|
200203511
<br />2. TAXES. Trustor shall pay each rent of all taxes and specWassessments of every kind, now or
<br />hereafter levied against the Trust Estate or any part Owed, before delinquency, without rxdw or demand.
<br />3. INSURANCE AND =REPAIRS. TnXdor shall maintain ftrs and eodended coverage Insurance insuring the
<br />Improvements constituting part of On Tam Estate for such amounts and on such terns reasonably satisfactory to
<br />Beneficiary. So I ns the Property Is secured by s- *9 deed of trust or mortgage, compliance with the Insurance
<br />requirements of. the deed of trust or mortgage shall be sufficient to satiety the requirements of this paragraph 3 relating
<br />to insurance.
<br />Trustor shall ,promptly repair and replace the Trust Estate or any pest thereof so that, excerpt for ordinary wear and
<br />t ear, the Trust Estate shad not deteriorate. In no event shell the Trustor comrrdt waste on or to the Trust Estate, or commit,
<br />suffer or permit any act to be done In or upon the Trust Efate In violation of any Now, ordinance or regulation. Trustor std
<br />pay and promptly discharge at Tnsrtor's cost and expense all liens, encumbrances and charges levied, imposed or
<br />assessed against the Trust &dale or any part thereof.
<br />ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear M and contest any action or proceeding
<br />.purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shy' pay all costs and
<br />expersses, Including cost of evidence of title and attorney's fees, in any such action or proceeding In which Beneficiary or
<br />Trustee may appear. If Trustor falls to make any payment or to do any act as and in the manner provided In any of the Loan
<br />Instrument, Beneficiary and /or Trustee, each In their own discretion, without obligation so to do and without notice to or
<br />demand upon Trustor and without releasing Trustor from any obligation, may make or do the same In such r www and to
<br />such indent as either may deers necessary to protect the security hereof. Trustor shall, immediately upon demand therefor
<br />by Beneficiary, pay all costs and expenses iro xwW by Beneficiary In connection with the exercise by Beneficiary of the
<br />foregoing rights, including without limitation costs of evidence of title, court costs, appraisals, surveys and attorney's fees.
<br />5. EMINENT DOMAIN. If the Trust Estate, or any part thereof or interest therku, be taken or damaged by reason
<br />of any public Improvement or emnation proceeding, or In any other manner kodudlog deed In lieu thereof
<br />rCondermnatfon j, or If Trustor receives any notice or other Information regarding such proceeding, Trustor shed give
<br />prompt written notice thereof to Beneficiary . Trustor shall be entitled to all compensti n, awards and other payments or
<br />relief theof and shall be entitled at its option to commence, appear In and prosecute in its own name any action or
<br />proceedings. Trustor stall also be entitled to make any compromise or settlement In connection with such taking or
<br />damage.
<br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written Instru mert
<br />executed and acknowledged by Beneficiary, mated to Trustor and recorded in the. County In which the Trust Estate is
<br />located and by othewise complying with the provisions of the applicable law of the State of Nebraska substitute a
<br />successor or successors to the Trustee named herein or acting hereunder.
<br />7. SUCCESSORS AND ASSIGNS. This Second Deed at Trust applies to, Inures to the benefit of and binds all
<br />parties hereto, their heirs, legatees, devisees, personal representativesâ–ş successors and assigns. The term
<br />'BenefickuY
<br />shah mean the owner and holder of any promissory note given to beneficiary, (whether or not named as Beneficiary
<br />8. MERGER, CONSOLIDATION, SALES OR LEASES. Trustor convenants that Trustor will not sell, lease or
<br />otherwise dispose of any of the Trusot Estate. In the event that Trustor sells, leases or otherwise disposes of any part of the
<br />Trust Estate, Beneficiary may at Its option declare the Indebtedness secured'hereby immediately due and .payable, whether
<br />or not any default exists. Beneficiary shall consent to a transfer of the Trust Estate to a third party to the extent such third
<br />party meets the requirements contained in, and assumes the obligations set forth M the First Deed of Trust. The covenants
<br />contained herein shall run with the Property and shall remain In full force and effect until the Indebtedness Is paid in full.
<br />9. EVENTS OF DEFAULT. Any of the following everts shall be deemed an event of default hereunder.
<br />0
<br />(a) default shall be made in the payment of the Indebtedness or any other sum secured hereby when duos;
<br />(b) Trustor shall perform any act In bankruptcy; or
<br />(c) a court of competent jurisdiction shall enter an order, judgment or decree approving a petition filed
<br />against Trustor seeking any reorganization, dissolution or similar relief under any present or future federal, state
<br />or othe statute, law or regulation relating to bankruptcy, insolvency or other relief fox debtors, and such order,
<br />judgment or decree shall remain unvacated and unstayed for an aggregate of sixty (60) days (whether or not
<br />consecutive) from the first date of entry therof, or any trustee, receiver or liquidator or Trustor or of as or any
<br />part of the Trust Estate, or of arty or all of the royalties, revenues, rats, issues or profits thereof, shall be
<br />appointed without the consent or acquiescence of Traitor and such appointment shall remain unvacated and
<br />unstayed for an aggregate of sixty (6D) days (whether or not consecutive); or
<br />
|