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200301381
<br />deed of trust or mortgage, compliance with the insurance requirements of the first deed of trust or mortgage shall be sufficient it, atist, the
<br />requirements ofthis paragraph 3 refuting to insurance.
<br />Tmstor shall promptly repair and replace the frost Estate or any pan therwl'so that, except for ordinary wear mid tear, the Trust
<br />Estate shall not deteriorate. In no event shall the Tnrsmr commit waste on or to the'frust Estate, or commit, suffer or permit anv act to he
<br />done in or upon the frost Estate in violation of any law, ordinance or regolation. "I'ntslur shall pay and promptly discharge at'I'rrtstor's cost
<br />and expense all Iiem, encumbrances and charges levied, imposed or assessed against the Trust Estate or any pan thereof.
<br />4. Aedons AJjeedng Trust Es/nle. Toaster shall appear in and contest any action or proceeding purporting to anect the ecurtly
<br />hercofor the rights or powers of Beneficiary or 'I notice, and shall pay all costs and cxpcnscs, including cost of evidence of title omit
<br />attorney's fees, in any such action or proceeding in which Beneficiary or Tmstce may appear. If Trustor fails to make any paymanl or to do
<br />any acts and in the manner provided 1n any of the Loan Instruments, lieneticiary and /or Trustee, each in their own discretion, ten hnut
<br />obligation so to do and without notice to or demand upon'I'mstor and without releasing Trustor from any obligation, may make or do the
<br />same in such manner and to such extent as either may deem necessary to protect the security hereof. Tmstor shall, immediately upon demand
<br />therefore by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection with the exercise by Beneficiary ofthe foregoing
<br />rights, including without limitation costs ofevidence oftitic, court costs, appraisals, surveys and attorney's fees.
<br />5. Eminent Damaln. Ifthe Trust Estate, or any pan thercofor interest therein, be taken or damaged by reason ofany public
<br />improvement or condemnation proceeding, or in any other manner including deed in lieu thereof( "Condemnation" ), or if Tmstor receives
<br />any notice or other information regarding such proceed i ng,'I more shall give prompt written notice thereof and shall be entitled at its option
<br />to commence, appear in and prosecute in its own name any action or proceedings. "Tmstor shall also be entitled to make any compromise or
<br />settlement in connection with such taking or damage.
<br />h. Appointment aitSuccercur Trustee. Beneficiary may, from time to time, by a written instrument executed and acknowledged by
<br />Beneficiary, mailed to frustor and recorded in the County in which the T rest Estate is located unit by otherwise complying with the
<br />provisions of the applicable law of the State of Nebraska substitute a successor or successors to the 'I mstee named herein or acting
<br />hereunder. -
<br />Z Successors and Acdgnr. This Second Decd of Trust app l ics m, insures to the henefii of and binds all pan ies hereto, Ihcir heirs,
<br />legatees, devisees, personal rejamsentati Yes, successors and assigns. 'f he tern "Benclic iary" shall mean the owner and holder of any
<br />promissory note given to ben officiary, (whether nr not named as Beneficiary herein.)
<br />g. Merger, Consolidation, Sales or Leases. 'Inomr covenan is that Tmsmr will not sell, ]Cos. or Otherwise dispose of nor of the
<br />Trust Estate. In the event that I Star sells, leases or otherwise disposes of any pan of the'1'mst Estate, Beneficiary may at its option declare
<br />the Indebtedness secured hereby immediately due and payable, whether or not any default exists. Beneficiary shall consent to a transfer of
<br />the Trust Estate to a third pm ty to file extent such third party occts'the requirements contained in, and usxumcs the obligmions set faith in the
<br />First Deed of Tmst. The convenants contained herein shall nut with the Property and shall remain in full force and effect until the
<br />Indebtedness is paid in full.
<br />9. Events n/DeJaull Any of the following events shall be deemed an event ofdcfnilt hereunder.
<br />(a) default shall be made in the payment of the indebtedness or any other sum secured
<br />hereby when due
<br />or
<br />(b) Trustor shall perform any act in bankruptcy; or
<br />(c) a court of competent jurisdiction shall enter an ruder, judgment or decree approving a petition fled against Truslor
<br />seeking any morgarmation, dissohn inn or similar relief ander any present or future federal, state or other statute, law or regulation relating to
<br />bankruptcy, insolvency or other re lnor for debtors, and such order, judgment or decree shall remain unvacated and ensured for im aggregate
<br />of sixty (60) days (whether or not consecutive) from the first at entry thereof, or any Irsiee, receiver or liquidator or Trustor or of all or any
<br />pan of the Trust Estate, or of any oral I of the royalties, revenues, rents, issues or profits thereof, shall be appointed without the consent or
<br />acquiescence of Tmstor and ouch appointment shall remain unvncated and unsfayal for an aggregate of sixty (60) days (whether Or not
<br />consecutive); or
<br />(d) a writ ofexecution nr attachment of any similar process shall he entered against Totter which shall become a lien on the
<br />Trust Estate or any portion Ihereofor interest therein and such cxeeraion, attachmeN or similar process ofludgment is not released, bonded.
<br />satisfied, vacated or stayed within sixty (60) days after its entry or levy; or
<br />m) there has occurred a hrcuch of or delimit under any term, covennot, agreement, condition, provision.
<br />representation or warranty contained in any prior decd ol'mut or mortgage anecting the Trust Estate.
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