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99 112 � 90`
<br /> B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br /> promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary executed
<br /> after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one
<br /> person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances
<br /> and future obligations that are given to or incurred by any one or more Trustor, or any one or more Trustor and
<br /> others. All future advances and other future obligations are secured by this Security Instrument even though all or
<br /> part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of
<br /> this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or
<br /> future loans or advances in any amount. Any such commitment must be agreed to in a separate writing.
<br /> C. All obligations Trustor owes to Beneficiary, which may later azise, to the extent not prohibited by law, including, but
<br /> not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary.
<br /> D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br /> the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br /> Security Instrument.
<br /> This Security Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of
<br /> rescission.
<br /> 5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
<br /> terms of the Secured Debt and this Security Instrument.
<br /> 6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br /> Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power
<br /> of sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br /> 7. PRIOR SECURITY IN'I'ERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br /> document that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br /> A. To make all payments when due and to perform or comply with all covenants.
<br /> B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br /> C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement
<br /> secured by the lien document without Beneficiary's prior written consent.
<br /> 8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground
<br /> rents, utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to
<br /> Beneficiary copies of ail notices that such amounts are due and the receipts evidencing Trustor's,p�yment. Trustor will
<br /> defend title to the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to
<br /> assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who
<br /> supply labor or materials to maintain or improve the Property.
<br /> 9. DiTE ON SALE OR ENCiJMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br /> be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or
<br /> sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This
<br /> covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security
<br /> Instrument is released.
<br /> 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition
<br /> and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or
<br /> deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the
<br /> nature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not
<br /> permit any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor
<br /> will notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the
<br /> Property.
<br /> Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose
<br /> of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a
<br /> reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and
<br /> Trustor will in no way rely on Beneficiary's inspection.
<br /> 11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security
<br /> Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as
<br /> attorney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary's right to perform for
<br /> Tnzstor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from
<br /> exercising any of Beneficiary's other rights under the law or this Security Instrument. If any construction on the Property
<br /> is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's
<br /> security interest in the Property, including completion of the construction.
<br /> 12. ASSIGNMENT OF LEASES AND RENTS. Trustor inevocably grants, conveys and sells to Trustee, in trust for the
<br /> benefit of Beneficiary, as additional security all the right, title and interest in and to any and all existing or future leases,
<br /> subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including
<br /> any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases") and rents, issues
<br /> and profits (all referred to as "Rents"). Trustor will promptly provide Beneficiary with true and correct copies of all
<br /> existing and future Leases. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not in default under
<br /> the terms of this Security Instrument.
<br /> Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is
<br /> entitled to notify any of Trusor's tenants to make payment of Rents due or to become due to Beneficiary. However,
<br /> Beneficiary agrees that only on default will Beneficiary notify Trustor and Trustor's tenants and make demand that all
<br /> future Rents be paid directly to Benefciary. On receiving notice of default, Trustar will endorse and deliver to
<br /> Beneficiary any payment of Rents in Trustor's possession and will receive any Rents in trust for Beneficiary and will not
<br /> commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument.
<br /> Trustor warrants that no default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees to
<br /> maintain and require any tenant to comply with the terms of the Leases and applicable law.
<br /> 13. LEASEHOLDS; CONDOMINILJMS; PLANNED iJrTIT DEVELOPMENTS. Trustor agrees to comply with the
<br /> provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a
<br /> planned unit development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br /> condominium or planned unit development.
<br /> NEBRASKA-DEED OF TRUST �s�oa�Original - Record 0089032072
<br /> H003-2NE Page 2 of 4 '�. � �• �
<br /> 01994 Bankers Systems,Inc.,St.Cloud,MN 12/23/96
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