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<br />or violation of all Loan Documents, and that as a result thereof, the Security Instrument can be foreclosed
<br />or a default can be declared.
<br />31. ANNUAL OPERATING STATEMENTS. Borrower shall furnish to Lender, annual
<br />financial statements for the Borrower by April 1 of each year during the loan term. Said statements shall
<br />include a balance sheet, profit and loss statement, and any supplemental schedules. If Borrower fails to
<br />furnish said statements, Lender shall, at its option, have the right to audit Borrower's books and records.
<br />Upon request, Borrower will also provide copies of its federal income tax returns to Lender.
<br />Guarantors, Michael D. Raasch and Diane K. Raasch, shall submit personal financial statements
<br />dated and signed certifying to the accuracy of the statement by April 1 of each year during the term of the
<br />loan. Said personal financial statements must be current (not more than 60 days old) when submitted to
<br />Lender. Upon request, Guarantors will also provide copies of their respective federal income tax returns to
<br />Lender.
<br />32. SECONDARY FINANCING. Borrower hereby agrees that there shall be no secondary
<br />financing on the Property without the prior written consent of Lender.
<br />33. CONSTRUCTION LOAN PROVISIONS. Borrower agrees to comply with the covenants
<br />and conditions of the Construction Loan Agreement, if any, which is hereby incorporated by reference in
<br />and made a part of this Security Instrument. All advances made by Lender pursuant to the Construction
<br />Loan Agreement shall be indebtedness of Borrower secured by this Security Instrument, and such advances
<br />may be obligatory as provided in the Construction Loan Agreement. All sums disbursed by Lender prior to
<br />completion of the improvements to protect the security of this Security Instrument up to the principal
<br />amount of the Note shall be treated as disbursements pursuant to the Construction Loan Agreement. All
<br />such sums shall bear interest from the date of disbursement at the rate stated in the Note, unless collection
<br />from Borrower of interest at such rate would be contrary to applicable law in which event such amounts
<br />shall bear interest at the highest rate which may be collected from Borrower under applicable law and shall
<br />be payable upon notice from Lender to Borrower requesting payment therefore.
<br />From time to time as Lender deems necessary to protect Lender's interests, Borrower shall, upon
<br />request of Lender, execute and deliver to Lender, in such form as Lender shall direct, assignments of any
<br />and all rights or claims which relate to the construction of the Property and which Borrower may have
<br />against any party supplying or who has supplied labor, materials or services in connection with
<br />construction of the Property. In case of breach by Borrower of the covenants and conditions of the
<br />Construction Loan Agreement, Lender, at Lender's option, with or without entry upon the Property, (i) may
<br />invoke any of the rights or remedies provided in the Construction Loan Agreement, (ii) may invoke all
<br />rights and remedies provided in this Security Instrument, including the acceleration of all sums secured by
<br />this Security Instrument, or (iii) may exercise any other right or remedy available to Lender under the Loan
<br />Documents or such remedies as may be provided at law or in equity. All such rights and remedies shall be
<br />cumulative.
<br />34. REQUEST FOR NOTICE. Borrower and Lender hereby request that a copy of any notice
<br />of default and notice of sale made or executed by Trustee pursuant to the provisions hereof be sent to
<br />Borrower and Lender at their respective mailing addresses set forth above.
<br />35. CROSS - DEFAULT PROVISION. In the event Borrower has entered or does in the future
<br />enter into any other loan agreement, deed of trust, mortgage or note payable to Lender, a default in the
<br />terms and provisions of the other loan agreement, note or instrument securing it shall constitute a default
<br />hereunder. Nothing in the preceding sentence shall in any way lessen or impair the rights of Lender with
<br />respect to this Security Instrument and the Note (or notes) which it secures. Lender, at its option, may
<br />separately enforce the provisions of any loan, note or deed of trust or mortgage securing it. Default under
<br />each loan, note or deed of trust or mortgage shall constitute a separate cause of action, and the institution
<br />of proceedings upon one, but not upon both or all, shall not be construed as a splitting of a cause of action
<br />by Lender or a waiver of any rights under any other loan, note, or deed of trust or mortgage.
<br />36. PARTIAL RECONVEYANCES. Provided no default or Event of Default shall then exist
<br />under the Note, this Deed of Trust or any of the Loan Documents, Lender agrees to cause Trustee to
<br />partially reconvey this Deed of Trust as to any individual commercial pad site, subject to the following
<br />terms and conditions:
<br />(a) All requests for partial reconveyances shall be made in writing directed to Lender, TierOne
<br />Bank, 1235 "N" Street, Lincoln, NE 68508; and
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