|
200305 &59
<br />A. To make all payments when due and to perform or Comply with all covenants.
<br />B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C. Not to allow any modification or extension of, nor to request any future advances under any
<br />note or agreement secured by the lien document without Beneficiary's prior written consent.
<br />S. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease
<br />Payments, ground rents, utilities, and other charges relating te the Property when due. Beneficiary
<br />may require Truster to provide to Beneficiary copies of all notices that such amounts are due and the
<br />receipts evidencing Trustor's payment. Trustor will defend title to the Property against any claims that
<br />would impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested
<br />by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or
<br />materials to maintain or improve the Property.
<br />9. DUE ON SALE. OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of
<br />the Secured Debt to be immediately due and payable upon the creation of, or contract for the creation
<br />of, any lien, encumbrance, transfer or sale of the Property'. This right is subject to the restrictions
<br />imposed by federal law (12 C.F.R. 591), as applicable. This covenant shall run with the Property and
<br />shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released.
<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property
<br />in good condition and make all repairs that are reasonably necessary. Trustor shall not commit or
<br />allow any waste, impairment, or deterioration of the Property. Tmslor will keep the Property free of
<br />noxious weeds and grasses. Trustor agrees that the nature of the occupancy and use will not
<br />substantially change without Beneficiary's prior written consent. Tustor will not permit any change in
<br />any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will
<br />notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or
<br />damage to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the
<br />Property at any reasonable time for the purpose of inspecting the Property. Beneficiary shall give
<br />Trustor notice at the time of or before an inspection specifying a reasonable purpose for the inspection.
<br />Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will in no way
<br />rely on Beneficiary's inspection.
<br />11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants
<br />contained in this Security Instrument, Beneficiary may, without notice, perform or cause them to be
<br />performed. Trustor appoints Beneficiary as attorney in fact to sign Toaster's name or pay any amount
<br />necessary for performance. Beneficiary's right to perform for Trustor shall not create an obligation to
<br />perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of
<br />Beneficiary's other rights under the law or this Security Instrument. If any construction on the
<br />Property is discontinued or not carried on in a reasonable Timmer, Beneficiary my take all steps
<br />necessary to protect Beneficiary's security interest in the Property, including completion of the
<br />construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably grants, bargains and sells to
<br />Tmstee, in trust for the benefit of Beneficiary, as additional security all the right, title and interest in
<br />and to any and all existing or future leases, subleases, and any other written or verbal agreements for
<br />the use and occupancy of any portion of the Property, including any extensions, renewals,
<br />modifications or substitutions of such agreements (all referred to as "Leases ") and rents, issues and
<br />profits (all referred to as "Rents "). Truster will promptly provide Beneficiary with true and Correct
<br />copies of all existing and future Leases. Trustor may collect, receive, enjoy and use the Rents so long
<br />as Trustor is not in default under the terms of this Security Instrument. Trustor acknowledges that this
<br />assignment is perfected upon the recording of this Deed of Treat and that Beneficiary is entitled to
<br />notify any of Tmstoc s tenants to make payment of Rents due or to become due to Beneficiary.
<br />However, Beneficiary agrees that only on default will Beneficiary notify Trustor and Truster's tenants
<br />and make demand that all future Rents be paid directly to Beneficiary. On receiving notice of default,
<br />NEBRASKA - DEED OF TRUST
<br />LENE3 I.11al 20030837700240
<br />
|