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200405523
<br />mortgage of the Trust Property in such manner and in such place, and will take
<br />such other action as in the opinion of Trustee may be required by any present or
<br />future law in order to perfect, maintain and protect the lien of the Deed of Trust, as
<br />the same may be from time to time amended or supplemented.
<br />3. If title to the whole of the Trust Property shall be taken in condemnation
<br />proceedings, by right of eminent domain or similar action, or shall be sold under
<br />threat of condemnation, all awards, damages and proceeds, not exceeding the
<br />unpaid portion of the Note, are hereby assigned and shall be paid to Trustee who
<br />shall apply such amount to the payment of the Note. In the event that a portion of
<br />the property shall be so taken, then in that event, Trustor will promptly, and with
<br />due diligence, repair, alter and restore the remaining part of the Trust Property to
<br />its former condition substantially to the extent that the same may be feasible and so
<br />as to constitute a complete and usable unit, and in such event, shall be entitled to
<br />the entire condemnation award.
<br />4. Trustor, at its expense, will maintain with insurors approved by
<br />Beneficiary insurance with respect to the improvements and personal property
<br />constituting the Trust Property against loss by fire, lighting, and other perils
<br />covered by standard extended coverage endorsement in an amount equal to at least
<br />$41,000.00. Trustor will comply with such other reasonable requirement as
<br />Beneficiary may from time to time request for the protection by insurance of the
<br />interest of the respective parties. All insurance policies maintained pursuant to
<br />this Deed of Trust shall name Trustor, Trustee and Beneficiary as insureds, as their
<br />respective interests may appear, and provided there shall be no cancellation or
<br />modification without 15 days prior written notification to Trustee and Beneficiary.
<br />In the event any policy hereunder is not renewed on or before 15 days prior to its
<br />expiration date, Trustee or Beneficiary may procure such insurance, pay the
<br />premiums therefore, and such sums shall immediately become due and payable
<br />with interest at the rate of 9.25% per annum until paid and shall be secured by this
<br />Deed of Trust. All policies of insurance required by this Deed of Trust shall be
<br />delivered to and retained by Trustor, with receipts and copies provided Trustee
<br />upon request. Failure of Trustor to furnish such insurance, or renewals as are
<br />required hereunder, or failure to pay any sums advanced hereunder shall, at the
<br />option of Beneficiary, constitute a default.
<br />5. In case of any damage to, or destruction of, the buildings, improvements
<br />or personal property constituting part of the Trust Property, whether such loss is
<br />covered by insurance or otherwise, Trustor, at its sole discretion may promptly
<br />restore, repair, replace and rebuild the same as nearly as practicable to its condition
<br />immediately prior to such damage or destruction or with such changes and
<br />alterations as Trustor may deem appropriate, provided such changes and
<br />alterations do not materially lessen the value and utility of such buildings,
<br />improvements and personalty from that existing immediately prior to such damage
<br />or destruction. Trustor shall be entitled to the net insurance proceeds received in
<br />the event that Trustor rebuilds the property. In the event that the property is not
<br />rebuilt so that Trustee's property is adequate to secure the debt hereunder, then
<br />Trustee shall be entitled to the insurance proceeds, not exceeding the unpaid
<br />portion of the debt secured hereby.
<br />6. Trustor will not commit any waste upon the trust Property and will, at
<br />all times, maintain the same in good operating order and condition and will make,
<br />from time to time, all repairs, renewals, replacements, additions and improvements
<br />which are reasonably needful or desirable to such end.
<br />7. Trustor will pay all taxes, assessments and other public charges upon
<br />the Trust Property before the same by law becomes foreclosed and when any such
<br />taxes, assessments or public charges shall be levied upon the Note secured by this
<br />Deed of Trust, or upon the Trustee of Beneficiary, or upon their successors or
<br />assigns, on account of said debt or the lien of this Deed of Trust (except income
<br />taxes) Trustor will pay such taxes, assessments or public charges prior to the time
<br />the same shall, by law, become foreclosed. In conjunction with the monthly
<br />payment Trustor will pay JA2 of the property taxes and insurance billed on
<br />the property subject to this Deed of Trust to Beneficiary. Beneficiary will
<br />then pay for same.
<br />8. All payments made under the provisions of this Deed of Trust, of the
<br />Note secured hereby, which may be construed as interest, shall not, in the
<br />aggregate over the term hereof, exceed the rate that may be lawfully contracted in
<br />writing in the State of Nebraska.
<br />9. Trustor agrees that: (a) the duties and obligations of Trustee shall be
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