|
200200649 DEED OF TRUST
<br />Loan No: 19268 (Continued) Page 2
<br />determine compliance of the Property with this section of the Deed of Trust. Any Inspections a tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part Of Lender to Truster or to any other person. The
<br />representations antl warranties contained herein are based an Trustor's due diligence in Investigating the Property for Hazardous
<br />Substarwes. Truster hereby (1) releesers and waives any future claims against Lender for indemnity or contribution In the event Truster
<br />becomes liable for cleanup a other costs under any such laws; and (2) agrees to indemnity and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach
<br />of this section of the Deed of Trust or es a consequence Of any use, generation, manufacture, storage, disposal, release or threatened
<br />release occurring prior to Trustor's ownership or Interest in the Properly, whether Or not the same was or should have been known to Truster.
<br />The provisions of this sealion of the Deed of Trust, Including the obligation to indemnity, shall survive the payment of the Indebtedness and
<br />the satisfaction and reoonveyenee of the lien of this Deed of Trust and shall not be effected by Lentler's acquisition of any interest in the
<br />Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Truster shall not cause, conduct or permit any uisanCe nor commit, permit, or suffer any stripping of or waste on or to the
<br />Properly or any portion of the Property. Without limiting the generality of the foregoing, Trusfor will not remove, Or grant to any other party
<br />the right to remove, any limber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written
<br />consent.
<br />Removal of Improvements. Truster shall not demolish or remove any Improvements from the Real Property without Lender's prior written
<br />consent. As a condition to the removal of any Improvement, Lander may require Truster to make arrangements satisfactory to Lender to
<br />replace such Improvement with Improvements of at least equal value.
<br />Lender's Right to Enter. Lender and Lander's agents and representatives may enter upon the Real Property at all reasonable times to
<br />attend to Lender's Interests and to Inspect the Real Property for purposes of Trustor's compliance with the terms and conditions of this Deed
<br />of Trust.
<br />Compliance with Governmental Requirements, Truster shall promptly comply with all firm, ordinances, and regulations, now Or hereafter
<br />in effect, of all governmental authorities applicable to the use or occupancy of the Property. Truster may contest in goad faith any such law,
<br />anathema. or regUleNOn and withheld compliance during any proceeding, including appropriate appeals, so long as Truster has notified
<br />Lander in writing prior to doing so and so long as, in Lender's sole opinion, Lender's Interests in the Property are not jeopardized. Lender
<br />may require Truster to post adequate security or a surety band, reasonably satisfactory to Lender, to protect Landers interest.
<br />Duty to protect. Trusfor agrees hall to abandon or leave unattended the Properly. Truster shall do all other acts, in addition to those
<br />acts at forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the
<br />Property.
<br />DUE ON SALE — CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Dead
<br />of Trust upon the sale or transfer, without Lenders prior written consent, of all or any part of the Real Property, or any interest in the Real Property.
<br />A' §ale or transfer" means the conveyance of Reel Property or any right, title or Interest In the Real Property; whether legal, beneficial or equitable;
<br />whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for dead, leasehold Interest with
<br />a term greater than three (3) years, lasso- option contract, or by sale, assignment, Or transfer of any beneficial Interest in or to any land trust
<br />holding title to the Real Property, or by any other method of conveyance of an interest in the Real Property. However, this option shall not be
<br />exercised by Lender if such exercise is prohibited by federal lw or by Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
<br />Payment, Tractor shalt pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water
<br />and sewer), fines and impositions levied against a on account Of the Property, and shall pay when due all claims for work dam on or for
<br />services rendered or material furnished to the Properly. Trustor shall maintain the Property free of all hens having priority over or equal to the
<br />interest of Lentler under this Deed of Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this
<br />Deed of Trust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation
<br />to pay, so long as Lender's Interest In the Property is not jeopardized. If a lien arises or Is filed as a result of nonpayment, Trustor shall within
<br />fifteen L! 5) days after the lien arises or, If a lien is filed, within fifteen (I6) days after Trustor has notice of the filing, secure the discharge of the
<br />Ilan, or If requested by Lender, deposit with Lander cash or a sufficient corporate surety bond or other security satisfactory to Lender in an
<br />amount sufficient to discharge the lien plus any costs and afforneys fees, or other charges that could accrue as a result of a foreclosure or
<br />into under the lien. In any contest, Trustor shall defend dead and Lander and shall satisfy any adverse Judgment before enforcement against
<br />the Property. Truster shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.
<br />Evidence of Payment. Trustor shall upon demand furnish to Lander satisfactory evidence of payment of the taxes or assessments and shall
<br />authorize the appropriate governmental official to deliver to Lender at any rime a written statement of the taxes and assessment against the
<br />Property.
<br />Notice of Construction. Trustor ahul n0bly Lender at least fifteen (16) days before any work Is commenced, any services are furnished, or
<br />any materials are supplied to the Property, If any mechanic's Ilan, matriaimen's lien, Or Other lien could be asserted on account of the work,
<br />services, or materials. Trustor will upon request of Lander furnish to Lander advance assurances satisfactory to Lander that Trustor can and
<br />will pay the cost of such Improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Properly are a part of this Deed of Trust.
<br />Maintenance Of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsement On
<br />a replacement basis for the full insurable value covering all Improvements on the Real Property In an amount sufficient to avoid application of
<br />any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such other hazard and liability insurance as
<br />Lender may reasonably require. Policies shall be written In farm, amounts, coverages and basis reasonably acceptable to Lander and Issued
<br />by a company or companies reasonably acceptable to Lender. Trustor, upon request Of Lender, will deliver to Lender from time to time the
<br />policies or cer ificats of insurance In form satisfactory to Lender, Including stipulations that coverages will not be cancelled or diminished
<br />without at least ten (10) days prior written notice to Lender, Each Insurance policy also shall Include an endorsement providing that
<br />coverage in favor of Lender will not be Impaired in any way by any act, omission or default of Trustor or any other person. The Real Property
<br />Is or will be located in an arse designated by the Director of the Federal Emergency Management Agency as a special flood hazard area.
<br />Trustor agrees to obtain and maintain Federal Flood Insurance, ll available, for the full unpaid principal balance of the loan and any prior
<br />liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise
<br />required by Lander, and to maintain such Insurance for the term of the loan.
<br />Application of Pro ems. Trustor shall promptly notify Lender of any loss Or damage to the Property. Lender may make proof of loss if
<br />Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Landers security is impaired, Lender may, at Lender's election,
<br />receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien affecting
<br />the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Trustor shall
<br />repair or replace the damaged Or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfectary proof of such
<br />expenditure, pay or reimburse Trustor from the proceeds fa the reasonable cost of repair or restoration if Trustor t not in default under this
<br />Dead of Trust. Any proceeds which have not been disbursed within 180 days after their raoelpl and which Lander has not committed to the
<br />repair or restoration of the Properly shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued
<br />Interest, and the remainder, If any, shall be applied to the principal balance Of the Indebtedness. If Lander holds any proceeds after payment
<br />In full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's interests may appear.
<br />Unexpired Insurance at Sale. Any unexpired insurance shall inure to the benefit of, and pass to, the purchaser of the Property covered by
<br />this Deed of Trust at any trustee's sale or other sale held under the provisions of this Deed of Trust, or at any foreclosure eels of such
<br />Properly.
<br />LENDER'S EXPENDITURES. If Trustor falls (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other claims,
<br />(B) to provide any required insurance On the Property, or (C) to make repairs to the Property then Lender may do so. If any action or
<br />proceeding Is commenced that would materially affect Lender's Interests In the Property, then Lender on Tractor's behalf may, but Is not required
<br />to, take any action that Lender believes to be appropriate to protect Lender's interest. All expenses incurred or paid by Lender for such
<br />purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Truster.
<br />
|