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200308465
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200308465
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Last modified
10/16/2011 1:46:02 AM
Creation date
10/21/2005 6:48:39 PM
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DEEDS
Inst Number
200308465
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200308465 <br />34. REOUEST FOR NOTICE. Borrower and Lender hereby request that a copy of any <br />notice of default and notice of sale made or executed by Trustee pursuant to the provisions hereof <br />be sent to Borrower and Lender at their respective mailing addresses set forth above. <br />35. SPECIAL PROVISION. Borrower hereby agrees to deposit $200,000.00 into an <br />interest bearing Certificate of Deposit to be held by Lender per that Assignment of Deposit <br />Account dated of even date herewith. Should Borrower be in default of this Special Provision or <br />of said Assignment of Deposit Account, Lender shall have the rights and remedies as stated in <br />Paragraph 23 of this Deed of Trust. <br />36. PARTIAL RECONVEYANCES. Provided no default or Event of Default shall <br />then exist under the Note, this Deed of Trust or any of the Loan Documents, Lender agrees to <br />cause Trustee to partially reconvey this Deed of Trust as to any individual commercial pad site, <br />subject to the following terms and conditions: <br />(a) All requests for partial reconveyances shall be made in writing directed to Lender, <br />TierOne Bank, 1235 N Street, Lincoln, NE 68508; and <br />(b) Borrower shall deliver to Lender a copy of the duly executed "bona fide" third <br />party arm's length purchase agreement regarding the proposed sale of said <br />individual commercial pad site for Lender's review and approval; and <br />(c) With respect to each individual commercial pad site requested to be reconveyed, <br />Borrower shall pay to Lender 100% of the net proceeds of the sale. All amounts <br />paid to Lender in connection with each partial deed of reconveyance shall be <br />applied towards Principal reduction on the Note; and <br />(d) Payment pursuant to this paragraph 36 shall not delay or otherwise extend the date <br />of payment of (or be applied against) any Interest amounts due under the Note; <br />and <br />(e) All partial reconveyances shall be made without warranty and neither Lender nor <br />Trustee shall be responsible for any recording fees in connection therewith. <br />IN WITNESS WHEREOF, Borrower has executed and delivered this Deed of Trust as of <br />the date and year first above written. <br />[see next page for signature] <br />a <br />13 <br />
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