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200206032
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200206032
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Last modified
10/14/2011 11:42:59 PM
Creation date
10/22/2005 8:47:35 PM
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DEEDS
Inst Number
200206032
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200206032 <br />3. Borrower shall pay all general real estate taxes and special assessments against <br />the property before the same become delinquent except to the extent that that economic <br />obligation has been shifted to the Lessee of the subject property pursuant to the terms of a <br />Triple -Net Lease negotiated between Borrower and Lender regarding the property described <br />on Exhibit "A ". <br />4. If Lender determines that any part of the property is subject to a lien, which is <br />or may attain priority over this Deed of Trust, Lender may give Borrower a notice identifying <br />the lien and Borrower shall satisfy the lien within ten (10) days. <br />5. Borrower shall keep the improvements on said premises insured against loss by <br />fire and hazards included within the term "extended coverage" for their insurable value and <br />policies for the same shall include a standard mortgage clause identifying Lender herein. In <br />the event of loss, Lender may make proof of loss if not promptly made by Borrower. <br />Insurance proceeds shall be applied to restoration or repair of the property damaged, unless <br />both parties otherwise agree, except if restoration or repair is not economically feasible or <br />Lender's security is not lessened, otherwise said proceeds shall be paid on the debt herein, <br />whether or not then due. <br />Unless Lender and Borrower otherwise agree in writing, any payments or proceeds <br />from insurance shall not extend or postpone the due date of the payments provided in said <br />Note, or change the amount of the payments. <br />6. If Borrower fails to perform the covenants and agreements herein contained, <br />Lender may do and pay for whatever is necessary to protect the value of the property and <br />Lender's rights in the property, including the payment of any sum secured by a lien which has <br />priority over this Deed of Trust, appearing in Court, paying reasonable attorney fees and <br />entering the property to make repairs. Any amount disbursed by Lender under this paragraph <br />shall become an additional debt of Borrower secured by this Deed of Trust, to bear interest <br />from the date of disbursement and said payment, together with the then principal amount, shall <br />bear interest at the highest lawful rate until refunded by Borrower. <br />7. The proceeds of any condemnation award are hereby assigned and shall be paid <br />to Lender and shall be applied to the sums secured by this Deed of Trust, whether or not then <br />due, with any excess paid to Borrower. <br />8. Any extensions or modifications of the loan granted by Lender to any successor - <br />in- interest of Borrower shall not operate to release the liability of the original Borrower or <br />Borrower's successor -in- interest. Any forbearance by Lender in exercising any right or <br />remedy shall not be a waiver of or preclude the exercise of any right or remedy. <br />9. Any notice to Borrower provided for in this Deed of Trust shall be given by <br />delivering it or by mailing it by first class mail unless Nebraska law requires use of another <br />method, to the Borrower's last known address. <br />
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