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200206189 DEED On TRUST Page
<br />whether fee title to the leasehold premises, the leasehold estate, or any subleasehold estate, will merge without Lenders express written consent; rather
<br />these estates will remain separate and distinct, even if there is a union of these estates in the landlord, Grantor, or a third party who purchases or
<br />otherwise acquires the estates. Grantor further agrees that if Grantor acquires all or a portion of the fee simple file, or any other leasehold or
<br />subleasandd title to the Property, that Fib will, at Lenders option, immediately become subject to Me terms of this Deed of Trust, and Grantor will
<br />execute, deliver and record all documents necessary or appropriate to assure that such the is secured by this Deed of Trust.
<br />6. REHABILITATION LOAN AGREEMENT. Grantor shall fulfill all of Grantors obligations under any home rehabilitation, improvement, repair, or other
<br />loan agreement which Grantor may enter into with Lender. Lender, at Lenders option, may require Grantor to execute and deliver to Lentler, in a form
<br />acceptable to Lender, an assignment of any rights, claims or defenses which Grantor may have against parties who supply labor, materia5 or services
<br />In connection with improvements made to the Property.
<br />T. DUE ON SALE - CONSENT BY LENDER. Lender may, at its option, have the right to accelerate, that of, declare immediately due and payable all
<br />sums secured by this Dead of Trust upon the sale or transfer, without the Lenders prior written consent, of all or any pad of the Real Property, or any
<br />interest in the Real Property. If Grantor sells or transfers the Real Property without the women consent of Lender, then, prior to acceleration Lenoir shall
<br />give notice to Grantor. The notice shall provide a period of not less than ten (10) days from the dale of the notice within which Grantor may pay the
<br />sums declared due. if Grantor fails to pay those sums prior to the expiration of such period, Lender may, Whout further notice or demand on Grantor,
<br />invoke any remedies permitted in this Deed of Trust. A -woe or transfer" means the conveyance of Real Properly Or any right. tine or inleresl therein;
<br />whether legal or equitable; whether voluntary or involuntary whether by outright sale, deed, installment side contract, land contract, contract for code,
<br />Ieeaandtl interest with a term greater than three (3) years, leasa-opfion contact, or by sale, asslgnmerl, or transfer of any berieficial interest in or to any
<br />land trust holding title to the Real Property, or by any other method of conveyance of Real Property interest. However, this ophon shall not be exercised
<br />by Lender F such exercise is prohibited by federal low or by Nebraska law.
<br />A. TRANSFER OF PROPERTY. The following provisions relating to the transfer of the Real Property are a pad of this Dead of Trust:
<br />Notice of Transfer. Grantor shall give notice to Lender, as provided in this Deed of Trust, prior 10 any sale or transfer of all or pad of the Property
<br />or any rights in the Real Property. Any person to whom all or part of the Real Property is sold or transferred also shall be obligated to give notice
<br />to Lender, as provided in this Deed of Trust, promptly after such transfer.
<br />Advances After Transfer. Al amounts advanced under the LOANLINER® Home Equity Plan Credit Agreement, up to the Credit Limit, arc
<br />secured by this Dead of Trust, whether advanced before or after sale or transfer of the Real Property, except any amounts which may be
<br />advanced by Lender more than five (5) days after notice to Lender, as provided in this Dead of Trust, that such transfer or sale has Occurred,
<br />Even if Grantor transfers the Real Property. Grantor will continue to be obligated under the Credit Agreement and this Deed of Trust unless Lender
<br />r ft eses Grantor in writing. As a condition to Lender's consent to any proposed transfer or as a condition to the release of Grantor, Lender may
<br />require that fire person to whom the Real Property is transferred sign an assumption agreement Satisfactory to Lender and Lentler may impose an
<br />assumption fee. The assumption agreement will not entitle the person signing it to receive advances under the Credit Agreement.
<br />9. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are a pad of this Dead of Trust.
<br />Payment. Grantor shall pay when due (and In all events prior to delinquency) all taxes, special taxes, assessments, charges (including water and
<br />sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for services
<br />tendered or material furnished to the Properly. Grantor shall maintain the Property tree of all liens having priority over or equal to the interest 01
<br />Lender under this Dead of Trust, except for the lien of taxes and assessments nor due, except for the existing indebtedness referred to below, and
<br />except as otherwise provided in this Deed of Trust.
<br />Right To Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation to
<br />pay, so long as Lender's inleresl in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment, Grantor shall within fifteen
<br />(15) days after the tied an. or, if a lien Is filed, within fifteen (15) days after Grantor has notice of the filing, secure the discharge of the lien, or if
<br />requested by Lender, deposit with Lender rash or a sufficient corporate surety bond or other securty satisfactory to Lender in an amount sufficient
<br />10 discharge the lien plus any costs and al,Dmey! fees or other charges that could accrue as a result of a foreclosure or sale under the lien. In
<br />any contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall
<br />name Lender as an additional onfidee under any surety bond furnished in the contest proceedings.
<br />Evidence of Payment. Grantor shah upon demand furnish to Lender satisfactory evidence of payment of the taxes or, assessment and shall
<br />authorize the appropriate governmental official to deliver to Lender at any time a written statement of the Was and assessment against the
<br />Property.
<br />Notice of Construction. Grantor Shall notify Lender at least FlXeen (15) days before any work is commenced, any seances are ferni5bed, or any
<br />materiels are supplied to the PropeM, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work, services,
<br />or materials and fire cost exceeds $10,000.00. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender
<br />that Grantor can and will pay the cost of such improvement.
<br />10. PROPERTY INSURANCE The following provisions regaling to Insuring the Property are a pad of this Good of Trust.
<br />Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on e
<br />replacement basis for the lull insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any
<br />coinsurance clause, and with a standard mongoose clause in favor of Lender, together with such other hazard and liability insurance as Lender
<br />may reasonably require. If the Real Property is located in an area designated by the Director of the Federal Emergency Management Agency as a
<br />special flood hazard area, Grantor agrees to obtain Federal Flood Insurance to the extent such insurance i5 required and is available. Policies
<br />shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and Issued by a company Or companies reasonably
<br />accoplable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to lime the policies or caffifirams of insurance in form
<br />satisfactory to Lender, including stipulation that coverages will not be cancelled or diminished without at least ten (10) days' prior wdden notice to
<br />Lender.
<br />Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property if the estimated cost of repair or
<br />replacement exceeds $10,000.00. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. If, in Lender's
<br />judgment, the restoration or repair is economically feasible and Lenders security is not lessened, insurance proceeds shall Ice applied to
<br />restoration or repair of the damaged Property. If the restoration or repair is not economically feasible or Lender's security would be lessened, the
<br />insurance proceeds shall be applied to the sums secured by this Dead of Trust whether or not then due, with any excess paid to Grantor, It
<br />Grantor abandons the Property, or does net answer within thirty (30) days a notice from Lender that the insurance canner has offered to sethe a
<br />claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property Or to pay sums Secured by
<br />this Deed of Trust, whether or not then due. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid
<br />to Grantor as Grantor's interests may appear.
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