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200206631 DEED OF TRUST
<br />Loan No: 34427 (Continued)
<br />Page 2
<br />purposes only and shall ri t ba construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The
<br />,representations and warranties contakted herein are based on Trustees due diligence in investigating the Property for Hazardous
<br />Substances. Trustor hereby (1) releases and waives any future claims against Lender for Indemnity or contribution in the event Trustor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify 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 as a consequence of any use, generation, .manufacture, storage, disposal, release or threatened
<br />release occurring prior to Trustoes ownership or Interest In the Property, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the Indebtedness and
<br />the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any Interest in the
<br />............Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to
<br />the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to any other
<br />parry the right to remove, any timber, minerals (including of and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior
<br />written consent.
<br />Removal of Improvements. Trustor shaifn6r demofish or remove any Improvements from the Real Property without Lender's prior written
<br />consent. As a condition to the removal of any Improvements, Larder may require Trustor to make arrangements satisfactory to Lender to
<br />replace such Improvements with Improvements of at least equal value.
<br />Lender's Right to Enter. Lender and Lender'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 Trusor's compliance with the terms and conditions of this Deed
<br />Of Trust.
<br />Compliance with Governmental Requirements. Trusor shall promptly comply with all laws, ordinances, and regulations, now or hereafter
<br />In effect, of all governmental authorities applicable to the use or occupancy of the Property. Trustor may contest in goad faith any such law,
<br />ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Trustor has notified
<br />Lender in writing prior to doing so and so long as, in Larder's sole opinion, Lender's interests in the Property are not jeopardized. Lender
<br />" may require Trustor to post adequate security or a surety bad, reasonably satisfactory to Lender, to protect Lender's interest
<br />Duty to Protect. Trusor agrees neither to abandon or leave unattended the Property. Trustor shall do all other acts, in addition to time
<br />acts set 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 />Construction Loan. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construct or complete
<br />construction of any Improvements on the Property, the Improvements shall be completed no later than the maturity date of the Note (or such
<br />earlier date as Lender may reasonably establish) and Trustor shall pay in full all costs and expenses in connection with the work. Lender will
<br />disburse loan proceeds under such terms and owndftlons as Lender may deem reasonably necessary to insure that the interest created by
<br />this Deed of Trust stall have priority over all possible liens, including those of material suppliers and workmen. Lender may require, among
<br />other things, that disbursement requests be supported by receipted bills, expense affidavits, waivers of liens, construction progress reports,
<br />and such other documentation as Lender may reasonably request.
<br />DUE ON SALE • CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Deed
<br />of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest in the Real Property.
<br />A "sale or transfer" means the conveyance of Real 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 deed, leasehold interest with
<br />a term greater than three (3) years, lease- 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 law 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 Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges ( induding water
<br />and 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
<br />services rendered or materiel furnished to the Property. Trustor shall maintain the Property free of all liens having priority over or equal to the
<br />interest of Lender 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 />Alight to Contest. Trusor 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 (15) days after the lien arises or, If a lien is filed, within fifteen (15) days after Trustor has notice of the filing, secure the discharge of the
<br />lien, or If requested by Lender, deposit with Lender 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 attorneys' fees, or other charges that could accrue as a result of a foreclosure or
<br />sale under the lien. In any contest, Trustor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against
<br />.....................the Property. Trustor shall name Lender as an additional obligee under any surety bond fumished in the contest proceedings.
<br />Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
<br />authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
<br />.......................Property.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) days before any work is commenced, any services are fumished, or
<br />any materials are supplied to the Property, If any mechanic's lien, materlalmen's lien, or other lien could be asserted on account of the work,
<br />services, or materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Trustor can and
<br />will pay the cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property 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 endorsements 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 form, amounts, coverages and basis reasonably acceptable to Lender 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 certificates 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. Should the Real
<br />Property be located in an area 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, l available, within 45 days after notice is given by Lender that the Property is
<br />located in a special flood hazard area, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan,
<br />up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such
<br />.insurance for the term of the loan.
<br />... Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss If
<br />Trusor falls to do so within fifteen (15) days of the casualty. Whether or not Lender's 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 satisfactory proof of such
<br />expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of repair or restoration If Trustor is not in default under this
<br />Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt and which Lender has not committed to the
<br />repair or restoration of the Property 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 Lender 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 />TENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other claims,
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