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200408861
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustors shall pay when due the principal of, and
<br />the interest on, the indebtedness evidenced by the Note, charges, fees and all other sums as
<br />provided in the Loan Instruments.
<br />2. REAL ESTATE TAXES. Trustors shall pay all real estate taxes when due and
<br />before same become delinquent and shall provide Beneficiary with evidence of payment of
<br />the same.
<br />3. INSURANCE AND REPAIRS. Upon closing, Trustors shall provide Beneficiary
<br />with a policy of fire and extended coverage insurance insuring the house and other building
<br />constituting the trust estate, for an amount no less than the replacement value of the house
<br />and buildings and naming Beneficiary as a loss payee.
<br />In addition to casualty insurance, Trustors shall, at closing, provide Beneficiary with a
<br />policy of comprehensive liability insurance covering the property and protecting the
<br />Beneficiary and Trustors from all claims, demands, lawsuits, costs, and judgments out of
<br />injury to persons or damage to property occurring on the premises. The coverage shall be in
<br />an amount not less than $300,000.00 single limit for bodily injury and property damage.
<br />Trustors shall pay the premiums to keep the above insurance in effect at all times.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustors shall appear in and contest any
<br />action or proceeding purporting to affect the security hereof or the rights or powers of
<br />Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence of title
<br />and attorney's fees, in any such action or proceeding in which Beneficiary or Trustee may
<br />appear. Should Trustors fail to make any payment or to do any act as and in the manner
<br />provided in any of the Loan Instruments, Beneficiary and /or Trustee, each in its own
<br />discretion, without obligation, may make or do the same in such manner and to such extent
<br />as either may deem necessary to protect the security hereof. Trustors shall, immediately
<br />upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in
<br />connection with the exercise by Beneficiary of the foregoing rights, including, without
<br />limitation, costs of evidence of title, court costs, appraisals, surveys and attorney's fees. Any
<br />such costs and expenses not paid within ten (10) days of written demand shall draw interest
<br />at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest
<br />therein, be taken or damaged by reason of any public improvement or condemnation
<br />proceeding, or in any other manner including deed in lieu of Condemnation ( "Condemnation "),
<br />or should Trustors receive any notice or other information regarding such proceeding,
<br />Trustors shall give prompt written notice thereof to Beneficiary. Beneficiary shall be entitled to
<br />all compensation and condemnation awards and other payments or relief therefor, and shall
<br />be entitled to make any compromise or settlement in connection with such taking or damage.
<br />All such compensation and condemnation, awards, damages, rights of action and proceeds
<br />awarded to Trustors (the "Proceeds ") are hereby assigned to Beneficiary; and Trustors agree
<br />to execute such further assignments of the Proceeds as Beneficiary or Trustee may require.
<br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time,
<br />by a written instrument executed and acknowledged by Beneficiary, mailed to Trustors and
<br />recorded in the County in which the Trust Estate is located and by otherwise complying with
<br />the provisions of the applicable law of the State of Nebraska substitute a successor or
<br />successors to the Trustee named herein or acting hereunder.
<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the
<br />benefit of and binds all parties hereto, their heirs, legatees, devisees, personal
<br />representatives, successors and assigns. The term "Beneficiary" shall mean the owner and
<br />holder of the Note, whether or not named as Beneficiary herein.
<br />8. INSPECTIONS. Beneficiary, or its agents, representatives or workmen, are
<br />authorized to enter at any reasonable time upon or in any part of the Trust Estate for the
<br />purpose of inspecting the same and for the purpose of performing any of the acts it is
<br />authorized to perform under the terms of any of the Loan Instruments.
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