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200306662 1.1 'Obligations "means all loans by the Beneficiary to THE .MEADOWS APARTMENT HOMES L - L.0 - including those loan evidenced by a note or notes dated 05. 2l 103 _ in the initial principal amotmt(s) of $ 270 000.00 - and any extensions, renewals, restatements and modifications thereof and all principal, interest, fees si expenses relating thereto (the 'Note ");and also means all the Torsos s debts, liabilities, obligations, reversers. warranties, and duties to the Beneficiary (plus its affiliates including any credit card debt, but specifically excluding any type of consumer credit), whether now or hereafter existing or inverted, whether liquidated or umiquidated, whether absolute or contingent, whether ansing out of the Loan Documents or Otherwise, and regardless of whether such Obligations arise out of existing or future credit granted by the Beneficiary to any Truster, to any Truster and odrers, in others guaranteed, endorsed or otherwise secured by any Truster or to any debtor in possession/sueeessot -in- interest of any Tmstor, and principal, [merest, fees, expenses and charges relating to any of the forcguing, including, without limitation, costs and expenses of collection and cmbaenrent of this Deed of Trust, attorneys fees of both inside and outside counsel and orvirommosal assessment or remededion costs. The interest rule and maturity of such Obligations are ss described in the documents creating the indebtedness secured hereby THIS DEED OF TRUST SECURES, WITHOUT LIMITATION,EXISTINO DEBTS OR OBLIGATIONS CREATED SIMULTA- NEOUSLY WITHTHE EXFCUTIONOP THIS DEED OF TRUST AND ANYFUTURE ADVANCESTO BE MADEATTHE OPTION OF THE PARTIES. The total principal amoum, exclusive of interest, of the Obligations, including any future debts, advances, liabilities or obligations, not including, however, any sums advanced for the protection of the Property or the Trustur's interest therein, shall not exceed the sum of$270, 000. 00 ; PROVIDED, HOWEVER, THAT NOTHING CONTAINED HEREIN SHALL CONSTITUTE A COMMITMENT TO MAKE ADDITIONAL OR FUTURE LOANS OR ADVANCES IN ANY AMOUNT. 1.4 Homestead. The Premises _ are uoE dic homestead of the Truster, Ifs., the Tmstor releases and waives nodn a non Al rights under and by virtue of the homestead excep mar laws of the State of Nebraska. ARTICLE. If. WARRANTIES AND COVENANTS In addition to all other warranties and covenants of the Truster under the Loan Documents which are expressly incorporated herein as pan of this Deed of Trust, including the covenouts to pay and perform all Obligations, and while any part of are broad granted the Truster under the Loan Documents is available or any Obligations of the Truster to the Beneficiary are unpaid or outstanding, the Tmstor eontinuensly warrants to the Beneficiary and the Trustee and agrees as follows- 2.1 Warranty of Title/Possession. The Truster warrants that it has sole and exclusive title to and possession of file Premises, excepting only the following' Permitted Encumbrances ": restrictions and easements of record, and zoning ordinances (the terms of which are and will be complied with, and in the case of easements, are and will be kept free of encroachments), taxes and assessments not yet due and payable and those Permitted Encumbrances set forth on Exhibit B amehed hereto (except that if no Exhibit B is attached, there will be no additional Permitted Encumbrances). The lien of this Deed of Trust, subject only to Permitted Encumbrances, is and will eontinoe to he a valid first and only lien upon all of the Property. 2.2 Maintenance; Waste; Alteration. The Tntsmr will maintain the Premises in good and tenantable cond lion and willrestore or replace damaged or destroyed improvements with items of at least equal utihtyand value. the Tmstor willnot commit or permit waste to he committed on the Premises. The Truster willnot remove, demolish or materially alter any part of the Premises without the Beneficiary's prior written consent, except the 'tmslor may remove a fixture, provided the fixture is promptly replaced with anoarer fixture ofd least equal utility- The replacement fixture will he subject to the priority lien and security of ads Deed of Trust. 2.3 Transfer and Liens. The Tmstor willnot, without the prior written consent of the Beneficiary, which may be withheld in the Beneficiary 's side and absolute discretion, either voluntarily or involuntarily (a) sell, assign, lease or transfer, or permit to be sold, assigned, leased or transferred, any pan of the Premises, or any interest thereiq or (b) pledge or otherwise emumber, create or permit to exist any mortgage, pledge, lien or claim for lien or encumbrance upon any part of the Premises or interest therein, except for the Permitted Encumbrances. Beneficiary has not consented and will not consent to any contract or to any work or to the banishing of any materials which might be deemed to create a Han or lien superior to the lien of this Deed of Trost. 2.4 Escrow. After written request from the Beneficiary, the Tmstor willpay to the Beneficiary sufficient furls at such ban, as the Beneficiary designates, to pay (a) the estimated sound real estate taxes and assessments on the Premises; and an all property or hazard insurance premiums when due. Interest willnot be paid by the Beneficiary on any escrowed funds. Escrowed funds may be commingled with other finds of the Renefichury- All escrowed funds are hereby pledged as additional security for ate Obligations. 2.5 'fazes, Assessments and Charges. To the extent not paid to the Beneficiary under 2.4 above, the Truster willpay, before they become delinquent all taxes, assessments and other charges now or hereafter levied or assessed against the Premises, against the Beneficiary basal upon this Doti of Trust or the Obligations secured by this Deed of Trust, or upon the Beneficiary's interest in the Premises, and deliver to the Beneficiary receipts showing timely Payment- 2.6 Insurance. The Truamr, will continually insure the Premises against such perils or hazards as hie Beneficiary may require, in amounts, with acceptable co insurance provisions, not less than the unpaid balance of the Obligations or the Boll replacement value 1714NE Page 2.f a 10 /01