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200504312
<br />"Lead -Based Paint Hazard Laws "). Trustor represents and warrants (a) that no notice has been
<br />received by Trustor with respect to, nor is Trustor aware of any basis for, any federal, state or
<br />local agency investigation, administrative order, consent order or decree, litigation or settlement
<br />regarding any violation of Lead -Based Paint Hazard Laws (b) the Subject Property is and at all
<br />times has been in compliance with Lead -Based Paint Hazard Laws, and (c) no notice, demand,
<br />claim or other communication has been received by Trustor from any governmental authority or
<br />other entity or individual claiming any violation of or demanding compliance with any Lead_
<br />Based Paint Hazard Laws, or demanding payment, contribution, remedial action or any other
<br />action or inaction with respect to any actual or alleged violation thereof. Trustor hereby agrees
<br />to indemnify and hold harmless the Beneficiary, its past, present and future directors, officers,
<br />employees and agents, and any successor to Beneficiary's interest, from and against any and all
<br />claims, damages, losses and liabilities arising in connection with any violation of Lead -Based
<br />Paint Hazard Laws. THE FOREGOING WARRANTIES AND REPRESENTATIONS, AND
<br />TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL
<br />SURVIVE THE REPAYMENT OF THE NOTE, THE RECONVEYANCE OF THIS DEED OF
<br />TRUST, AND JUDICIAL AND NONJUDICIAL FORECLOSURE OR CONVEYANCE OF
<br />THE SUBJECT PROPERTY BY DEED IN LIEU OF FORECLOSURE.
<br />15. CONSTRUCTION LOAN PROVISIONS. Trustor agrees to comply with the covenants and conditions
<br />of the Construction Loan Agreement, if any, which is hereby incorporated by reference in and made
<br />a part of this Deed of Trust. All advances made by Beneficiary pursuant to the Construction Loan
<br />Agreement shall be indebtedness of Trustor secured by this Deed of Trust, and such advances may
<br />be obligatory as provided in the Construction Loan Agreement. All sums disbursed by Beneficiary
<br />prior to completion of the improvements to protect the security of this Deed of Trust up to the
<br />principal amount of the Note shall be treated as disbursements pursuant to the Construction Loan
<br />Agreement. All such sums shall bear interest from the date of disbursement at the rate stated in the
<br />Note, unless collection from Trustor of interest at such rate would be contrary to applicable law in
<br />which event such amounts shall bear interest at the highest rate which may be collected from
<br />Trustor under applicable law and shall be payable upon notice from Beneficiary to Trustor
<br />requesting payment therefor.
<br />From time to time as Beneficiary deems necessary to protect Beneficiary's interests, Trustor shall,
<br />upon request of Beneficiary, execute and deliver to Beneficiary, in such form as Beneficiary shall
<br />direct, assignments of any and all rights or claims which relate to the construction of the Subject
<br />Property and which Trustor may have against any party supplying or who has supplied labor,
<br />materials or services in connection with construction of the Subject Property. In case of breach by
<br />Trustor of the covenants and conditions of the Construction Loan Agreement, Beneficiary, at
<br />Beneficiary's option, with or without entry upon the Subject Property, (i) may invoke any of the
<br />rights or remedies provided in the Construction Loan Agreement, (ii) may invoke all rights and
<br />remedies provided in this Deed of Trust, including the acceleration of all sums secured by this Deed
<br />of Trust, or (iii) may exercise any other right or remedy available to Beneficiary under the Loan
<br />Documents or such remedies as may be provided at law or in equity. All such rights and remedies
<br />shall be cumulative. If, after the commencement of amortization of the Note, the Note and this
<br />Deed of Trust are sold by Beneficiary, from and after such sale the Construction Loan Agreement
<br />shall cease to be a part of this Deed of Trust and Trustor shall not assert any right of set -off,
<br />counterclaim or other claim or defense arising out of or in connection with the Construction Loan
<br />Agreement against the obligations of the Note and this Deed of Trust.
<br />IN WITNESS WHEREOF, Trustor has executed this Deed of Trust as of the day and year set
<br />forth above.
<br />TRUSTOR:
<br />WCI, LLC,
<br />a Nebraska limited liability company
<br />By:
<br />William C. Peel, Member
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