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200305038 Proceeds are required to be paid to the Beneficiary pursuant to this Section, the Grantor shall (A) promptly pay the amounts described in clauses (i) and (ii) of the definition of "Insurance Proceeds" and (B) promptly pay as soon as received the amounts described in clause (iii) of the definition of "Insurance Proceeds ", to the Beneficiary pursuant to clause (ii) or (iv) of this Section, as the case may be. The insurer shall be entitled to assume conclusively that no Event of Default has occurred and is continuing if it has not received written notice of the existence of such Event of Default. (b) If an Event of Default has occurred and is continuing, the Beneficiary shall have the right, at its option, (i) to apply any Proceeds toward the cure of any Default; or (ii) to apply any Proceeds paid to or collected by it (together with any income earned thereon) as provided in Section 9(b) of the Pledge Agreement. (c) If no Event of Default has occurred and is continuing, the Proceeds deposited with the Beneficiary shall be deposited into a separate interest - bearing account (the "Interest- Bearing Account ") in the name of and under exclusive dominion and control of the Beneficiary, to be distributed to the Borrower as provided below. Disbursements from the Interest Bearing Account for the cost of building or restoring property in respect of which money was deposited in such account shall be made by the Beneficiary from time to time, but not more than once in each 30 -day period. Each such disbursement shall be made within 15 days of receipt by the Beneficiary of (A) a request of the Borrower for such disbursement; (B) a certificate from an Authorized Financial Officer of the Borrower and the supervising architect or engineer, if any, that the portion of work for which the disbursement is requested is completed; (C) a certificate from an Authorized Financial Officer of the Borrower that the disbursement is needed to pay the costs of such work or to reimburse the Borrower for payment for such work and that the funds remaining to be disbursed under this subsection in connection with such property, together with other funds available to the Borrower, are sufficient to pay all costs of completing such repairing, rebuilding or restoring and (D) such other certificates, information and documents as the Beneficiary shall reasonably require. ARTICLE 4 EXPENSES AND INDEMNIFICATION Section 4.01. Expenses. Upon demand, the Grantor (a) shall reimburse the Beneficiary and the Administrative Agent for all out -of- pocket expenses, including reasonable attorneys' fees and expenses, paid or incurred by the Beneficiary or the Administrative Agent in connection with (i) any Default or alleged Default, (ii) the exercise or enforcement of any right or remedy under or with respect to this Deed of Trust or any other Security Document, and (iii) the 24 (N1) 04675/ 120 /REAL/NEBRASKA/form.dot.NE.doc