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200503788
<br />encumbrance, pledge, or security interest (except with the prior written consent of Beneficiary), the whole
<br />of the principal and interest secured hereby shall, at the option of the Beneficiary, become immediately due
<br />and payable.
<br />18. Insurance. Without limiting the generality of any other provision contained in this Deed of
<br />Trust, Grantor shall procure and maintain all risk insurance on the Property with premiums prepaid
<br />providing replacement cost coverage and insuring against loss by fire, explosion, lightning, windstorm, hail,
<br />vandalism and other risks customarily covered by extended coverage insurance, loss of rents /income or
<br />business interruption insurance for a minimum of one year, earthquake to the extent required by Beneficiary
<br />now or in the future and coverage for such other perils and risks as may be required by Beneficiary from
<br />time to time. If the Property is ever designated as part of a flood plain area or any other designation which
<br />would make the Property subject to the Federal Flood Insurance Act of 1968, as amended from time to time,
<br />or any similar law, Grantor agrees to do everything reasonably necessary to comply with the requirements of
<br />said law and related regulations in order that flood insurance will be available to said Grantor, and to obtain
<br />and maintain for the benefit of Beneficiary such an insurance policy in form and content satisfactory to
<br />Beneficiary. Grantor shall also procure and maintain commercial general liability insurance against bodily
<br />injury or death or property damage occurring in, upon or about, or resulting from, the Property with limits in
<br />such amounts as are acceptable to Beneficiary, but in no event less than $2,000,000 combined single limit
<br />per occurrence and $2,000,000 general aggregate, naming Beneficiary as an additional insured on a non-
<br />contributory basis. All insurance shall be with companies satisfactory to Beneficiary having an A. M. Best
<br />rating of B +VI or better and in such amounts acceptable to Beneficiary with lender's loss payable clauses
<br />(Form BFU438) in favor of and in form satisfactory to Beneficiary. At least 10 days prior to the expiration
<br />of the term of any insurance policy, Grantor shall furnish Beneficiary with written evidence of renewal or
<br />issuance of a satisfactory replacement policy. If requested Grantor shall deliver copies of all policies to
<br />Beneficiary. In the event of foreclosure of this Deed of Trust all interest of Grantor in any insurance policies
<br />pertaining to the Property and in any claims against the policies and in any proceeds due under the policies
<br />shall pass to Beneficiary.
<br />19. Condemnation and Insurance Proceeds. Grantor shall give immediate notice to Beneficiary
<br />of any condemnation proceeding, or loss or damage to any Property exceeding the sum of $100,000
<br />( "Material Loss "). Grantor shall have the right to settle and receive the proceeds payable with respect to a
<br />condemnation, loss or damage except for a Material Loss. With respect to a Material Loss, Grantor
<br />authorizes Beneficiary, at Beneficiary's option, to make a claim for and enter into a compromise or
<br />settlement with respect to any proceeds payable as a result of condemnation, loss or damage. All proceeds
<br />payable as a result of a condemnation, loss or damage shall be paid to Beneficiary and applied to repair or
<br />restore the Property, provided no default shall have occurred and be continuing under this Deed of Trust or
<br />the other Loan Documents, and such repair or restoration is economically feasible, and the security of this
<br />Deed of Trust is not impaired. Upon condemnation of, or the actual or constructive total loss of, the
<br />Property to such an extent as would make repair uneconomical, or if a default shall have occurred and is
<br />continuing under this Deed of Trust at the time of such loss or condemnation, Beneficiary shall, after
<br />deducting its expenses including attorney's fees, apply the proceeds to the repair and restoration of the
<br />Property on such conditions as Beneficiary may impose including evidence of sufficient funds to complete
<br />the work, approval of the plans and specifications and periodic disbursement of the proceeds during the
<br />course of repair and restoration. If the restoration or repair is not economically feasible and/or the value of
<br />Beneficiary's security is diminished, the proceeds, at the option of Beneficiary, shall be applied to the debt
<br />secured by this Deed of Trust, whether or not then due, with any excess paid to Grantor. No application of
<br />the proceeds to the debt shall extend or postpone the due date of any monthly payments on the Note or
<br />reduce the amount of any such payments.
<br />Doff- Nebraska -12/04 NC LGL 6 Symetra loan No. SBOU508
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