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20030 5038 <br />effectuate, complete, perfect, continue or preserve any right, power or privilege <br />granted or intended to be granted to the Beneficiary hereunder. <br />Section 2.02. Secured Obligations. The Grantor shall duly and punctually <br />pay, perform and observe the Secured Obligations binding upon the Grantor. <br />Section 2.03. Impositions. Subject to Section 2.09, the Grantor shall (a) <br />duly and punctually pay all Impositions before any fine, penalty, interest or cost <br />may be added for nonpayment; (b) duly and punctually file all returns and other <br />statements required to be filed with respect to any Imposition; and (c) promptly <br />notify the Beneficiary of the receipt by the Grantor of any notice of default in the <br />payment of any Imposition or in the filing of any return or other statement relating <br />to any Imposition and simultaneously furnish to the Beneficiary a copy of such <br />notice of default. The Grantor shall not make any deduction from or claim any <br />credit on any Secured Obligation by reason of any Imposition and, to the extent <br />permitted under applicable law, hereby irrevocably waives any right to do so. <br />The Grantor shall not claim any deduction from the taxable value of the Trust <br />Property by reason of this Deed of Trust and, to the extent permitted under <br />applicable law, hereby irrevocably waives any right to do so. The term <br />"Impositions" means all taxes, assessments and other governmental charges, <br />ground rents, water, sewer or other rents, rates and charges, excises, levies, fees <br />and other charges (public or private) which may be assessed, levied, confirmed or <br />imposed on, or in respect of or be a Lien upon the Trust Property or any part <br />thereof or any interest therein. <br />Section 2.04. Compliance With Legal And Insurance Requirements. (a) <br />The Grantor represents and warrants that (i) as of the date hereof, the Property <br />and the use and operation thereof comply with all material Legal Requirements <br />and Insurance Requirements; (ii) there is no material default under any Legal <br />Requirement or Insurance Requirement; and (iii) the execution, delivery and <br />performance of this Deed of Trust does not require any consent the failure of <br />which to obtain would contravene any provision of and constitute a material <br />default under, any Legal Requirement or Insurance Requirement. <br />(b) Subject to Section 2.09, the Grantor shall promptly perform and <br />observe, or cause to be performed and observed, if the failure to so perform and <br />observe would have a Material Adverse Effect, (i) all laws, rules, regulations, <br />judgments, orders, permits, licenses, authorizations and other requirements of and <br />agreements with all governments, departments, agencies, courts and officials, <br />which now or hereafter shall be applicable to the Trust Property or any part <br />thereof or any use or condition thereof (herein collectively called the "Legal <br />Requirements "); (ii) all terms of any insurance policy covering or applicable to <br />the Trust Property or any part thereof, all requirements of the issuer of any such <br />policy, and all orders, rules, regulations and other requirements of the National <br />Board of Fire Underwriters (or any other body exercising similar functions) <br />applicable to the Trust Property or any part thereof or any use or condition thereof <br />(herein collectively called the "Insurance Requirements "); and (iii) all Permits <br />17 <br />(NY) 04675/ 120 /REALNEBRASKA/form.dot.NE.doc <br />