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20021010:
<br />be applied, at the option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust Deed. Such insurance will be
<br />in an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and
<br />will at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail.
<br />Trustorls) will obtain and keep flood insurance in force to cover losses by flood as required by Beneficiary and by the National Flood Insurance Act
<br />of 1968, as amended, and by regulations implementing the same. Trustorlsl further agree that Beneficiary is not and will not he liable for any failure
<br />by Trustorlsl or by any Insurer, far whatever reason, to obtain and keep this Insurance In force.
<br />3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair,
<br />maintenance, and condition and to neither commit nor permit any acts of waste or any Impairment of the value of the property. Beneficiary may
<br />enter upon the property to inspect the same or to anteing any acts authorized herein or in the loan agreemen(s).
<br />4. In the event Trustri fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property,
<br />buildings, fixtures, attachments, or Improvements as provided herein or in the loan aarearna lsL Beneficiary, at its notion, may make such payments
<br />amounts will In no manner limit the right of Beneficiary to declare I rustdrlsl In default Or exercise any of Beneficiary other
<br />iary is a party to any litigation affecting the property or the lien of this Trust Deed, including any action by Beneficiary to
<br />I or any suit in which Beneficiary Is named a defendant (including condemnation and bankruptcy proceedings) Beneficiary
<br />d advance payments for abstract fees, attorneys fees Ito the extent allowed by law(, casts, expenses, appraisal fees, and
<br />mounts s advanced will become part of the Vrinciuol indebtedness secured hereby, be amnediotely due and payable and
<br />suit rate provided in the notilsl from the date of advance until paid.
<br />o Treater(s) or their successors by the exercise of eminent domain are hereby assigned to Beneficiary; and Beneficiary is
<br />flied and apply the same in payment of any indebtedness, mature or unmatured, secured by this Trust Deed.
<br />It in the payment when due of any sums secured hereby (principal, interest, advancements, or protective advances), or failure
<br />ay covenants and conditions contained herein, In the notelsL loan agreemenhol, or any other instruments, or any proceedings
<br />Trust Deed in the manner provided by law for the foreclosure of mortgages on real property, including the appointment of a Receiver upon ex party
<br />application, notice being hereby expressly waived, without regard to the value of the property or the sufficiently thereof to discharge the
<br />indebtedness secured hereby or in the loan agreement(s). Delay by Beneficiary in exercising its rights upon default will not be construed as a waiver
<br />thereof and any act of Beneficiary waiving any specified default will not be construed as a waiver of any future default. If the proceeds under such
<br />sale or foreclosure are insufficient to pay the total Indebtedness secured hereby, Trustorls) do hereby agree to be personally bound to pay the unpaid
<br />balance, and Beneflciary will be entitled to a deficiency judgment.
<br />8. Should Beneficiary elect to exercise the Power of Sale granted herein, Beneficiary will notify Trustee who will record, publish, and deliver to
<br />Tructuds) such Notice of Default and Notice of Sale as then required by law and will in the manner provided by law, sell the property at the time
<br />and place of sale fixed in the Notice of Sale, either as a whole or in separate lots, parcels, or items and in such order as Trustee will deem expedient.
<br />Any pparson may bid at the sale including Fostoria), Trustee, or Beneficiary.
<br />9. Trustorls) hereby requests a copy of any Notice of Default or Notice of Sale hereunder m be mailed by certified mail to Trusorlsl at the
<br />addressles) set forth herein.
<br />10. Upon default, Beneficiary, either In person or by agent, with or without bringing any action or proceeding and with or without regard to the value
<br />of the property or the sufficiency thereof to discharge the indebtedness secured hereby, is authorized and entitled to enter upon and take possession
<br />of the property in its own name or in the name of the Trustee and do any acts or expend any sums it deems necessary or desirable to protect or
<br />preserve the value of the property or any interest therein, or increase the income therefrom; and with or without taking possession of the property
<br />is authorized to sue for or otherwise on loot the rents, issues, crops, profits, and income thereof, including those past due and unpaid, and apply
<br />the same upon any indebtedness secured hereby or in the loan a reemengid.
<br />No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided
<br />or ppermitted, but each will be cumulative, will be in addition to every other remedy given hereunder or now or hereafter existing at few or in equity
<br />or by statute, and may be exercised concurrently, independently or successively.
<br />11. Trustorls) acknowledges that the duties and obligations of Trustee will be determined solely by the express provisions of this Trust Deed or
<br />the Nebraska Trust Deeds Act and Trustee will not be liable except for the performance of such duties and obligations as are specifically set forth
<br />therein, and no implied covenants or obligations will be imposed upon Trustee; Trustee will not be liable for any action by It in good faith and
<br />reasonably believed by it to be authorized or within the discretion or rf9 hts of powers conferred upon it by this Trust Deed or state law.
<br />12. The integrity and responsibility of Trustorlsl constitutes a part of the consideration for the obligations secured hereby. Should Trustorls) sell,
<br />transfer, or convey the property described herein, without prior written consent of Beneficiary, Beneficiary, at its option, may declare the entire
<br />indebtedness immediately due and payable and may proceed In the enforcement of its rights as on any other default.
<br />13. Assignment of Rents including Proceeds of Mineral Leases. Trustorlsl hereby assigns, transfers, and conveys to Beneficiary all rents, royalties,
<br />gravel, took, or Other mineral lease at any kind pending geothermal resources now existing Or that may hereafter come into existence, covering
<br />the property or any part thereof. All such sums so received by Beneficiary will be applied to the indebtedness secured hereby; or Beneficiary, at
<br />its option, may turn over and deliver to Trustorls) or their successors in interest, any or all of such sums without prejudice to any of Beneficiary's
<br />rights to take and retain future sums, and without prejudice to any of its other rights under this Trust Dead. This assignment will be construed to
<br />be a provision for the payment or reduction of the debt, subject to the Beneficiary's option as hereinbefore provided, independent of the lien on the
<br />property. Upon payment in full of the debt and the reconveyance of this Trust Deed of record, this assignment will become inoperative and of no
<br />further force and effect.
<br />14. This Trust Deed constitutes a Security Agreement with respect to all the property described herein.
<br />15. The covenants contained in this Trust Deed will be deemed to be severable; in the event that any portion of this Trust Deed is determined to
<br />be void or unenforceable, that determination will not affect the validity of the remaining portions of the Trust Deed,
<br />7i3AN�7lGfNIEDFECI�
<br />INDIVIDUAL BORROWER ACKNOWLEDGMEN
<br />STATE OF hri l2ASKA )
<br />COUNTY OF ❑AL as
<br />T, ;
<br />On this 21st day of September 2002 before me, a Notary Public, personally appeared
<br />Johna M. Niedte Lt and William M. NiedLel L, wife and husband
<br />to me known to be the perscri named in and who executed the foregoing instrument, and acknowledged that they executed the same as
<br />their voluntary act and deed.
<br />(SEAL) ka
<br />1
<br />(Type name under signature)
<br />My commission expires r.UirCf .✓t c4 /,J Notary Public In and for said County and State
<br />=-b
<br />Ap N: 00270704; Primary Customer ID k: 00032914; CIF N: 67763 Legal Doc. Date: September 21, 2002
<br />FORM 5011, Trust Deed and Assignment of Rents Page 2
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