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200208380
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Last modified
10/15/2011 3:21:48 AM
Creation date
10/22/2005 9:16:16 PM
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DEEDS
Inst Number
200208380
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200208380 <br />. 1, <br />3. INSURANCE AND REPAIRS Beneficiaries are to keep insurance on the property of $59,000.00. <br />Truster shall maintain fire and extended coverage insurance insuring the improvements and buildings constituting <br />part of the Trust Estate for an amount no less than the amount of the unpaid principal balance of the Note (co- <br />insurance not exceeding 80% permitted). Such insurance policy shall contain a standard mortgage clause in favor of <br />Beneficiary and shall not be cancelable, terminable or modifiable without ten (10) days prior written notice to <br />Beneficiary. Truster shall promptly repair, maintain and replace the Trust Estate or any part thereof so that, <br />except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no event shall the Truster commit <br />waste on or to the Trust Estate. <br />4. ACTIONS AFFECTING TRUST ESTATE Trustor shall appear in and contest any action or <br />proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay <br />all casts and expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in <br />which Beneficiary or Trustee may appear. Should Truster fail to make any payment or to do any act as and in the <br />manner provided in any of the Loan Instruments, Beneficiary and /or Trustee, each in its own discretion, without <br />obligation so to do and without notice to or demand upon Truster and without releasing Truster from any obligation, <br />may make or do the same in such manner and to such extent as either may deem necessary to protect the security <br />hereof Truster shall, immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by <br />Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including without limitation costs <br />of evidence of title, court costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid <br />within ten (10) days of written demand shall draw interest at the default rate provided in the Note. <br />5. EMINENT DOMAIN Should the Trust Estate, or any part thereof or interest therein, be taken or <br />damaged by reason of any public improvement or condemnation proceeding, or in any other manner including decd <br />in lieu of Condemnation ( "Condemnation "), or should Truster receive any notice or other information regarding <br />such proceeding, Truster shall give prompt written notice thereof to Beneficiary. Beneficiary shall be entitled to all <br />compensation, awards and other payments or relief therefor, and shall be entitled at its option to commence, appear <br />in and prosecute in its own name any action or proceedings. Beneficiary shall also be entitled to make any <br />compromise or settlement in connection with such taking or damage. All such compensation, awards, damages, right <br />of action and proceeds awarded to Trustor (the "Proceeds ") are hereby assigned to Beneficiary and Tnustor agrees to <br />execute such further assignments of the Proceeds as Beneficiary or Trustee may require. <br />G. FUTURE ADVANCES. Upon request of Truster, Beneficiary, at Beneficiary's option, prior to <br />reconveyance of the Property to Truster may make future advances to Trustor. Such future advances, with interest <br />thereon, shall be secured by this Deed of Trust when evidenced by promissory notes stating that said notes are <br />secured hereby. <br />7. APPOINTMENT OF SUCCESSOR TRUSTEE Beneficiary may, from time to time, by a written <br />instrument executed and acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the <br />Trust Estate is located and by otherwise complying with the provisions of the applicable law of the State of <br />Nebraska substitute a successor or successors to the Trustee named herein or acting hereunder. <br />8. SUCCESSORS AND ASSIGNS This Deed of Trust applies to, inures to the benefit of and binds all <br />parties hereto, their heirs, legatees, divorcee, personal representatives, successors and assigns. The term <br />"Beneficiary" shall mean the owner and holder of the Note, whether or not named as Beneficiary herein. <br />9. INSPECTION Beneficiary or its agent may make reasonable entries upon and inspections of the <br />Property. Beneficiary shall give Trustor notice at the time of or prior to an inspection specifying reasonable cause <br />for the inspection. <br />
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