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200315"730
<br />(b) Trustor hereby covenants with Beneficiary that Trustor is lawfully
<br />seised of the property hereby conveyed, that Trustor warrants and
<br />will defend the title to the Property against the lawful claims of all
<br />persons whomsoever, that Trustor has the right to grant and
<br />convey the Property, and that the Property is unencumbered by
<br />any mortgage, trust deed, and /or contract to purchase.
<br />3. Taxes. Trustor shall pay each installment of all taxes and special assessments of every
<br />kind, now or hereafter levied against the Trust Estate or any part thereof, before delinquency,
<br />without notice or demand, and shall provide Beneficiary with evidence of the payment of same.
<br />Trustor shall pay all taxes and assessments which may be levied upon Beneficiary's interest
<br />herein or upon this Deed of Trust or the debt secured hereby without regard to any law that may
<br />be enacted offering payment of the whole or any part thereof upon Beneficiary.
<br />4. Insurance and Repairs. Trustor shall provide to Beneficiary proof of and thereafter
<br />maintain comprehensive builder's risk insurance coverage insuring the construction of the
<br />improvements on the Trust Estate. Such insurance policy shall contain a standard mortgage
<br />clause in favor of Beneficiary and shall not be cancelable, terminable, or modifiable without ten
<br />(10) days prior written notice to Beneficiary. Trustor shall promptly repair, maintain, and replace
<br />the Trust Estate or any part thereof so that, except for ordinary wear and tear, the Trust Estate
<br />shall not deteriorate. In no event shall Trustor conduct waste on or to the Trust Estate.
<br />5. 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
<br />Trustee and shall pay all costs and expenses, including cost of evidence of title and attorney
<br />fees, in any such action or proceeding in which Beneficiary or Trustee may appear. Should
<br />Trustor fail to make any payment or to do any act as and in the manner provided in any of the
<br />Loan Instruments, Beneficiary and /or Trustee, each in its own discretion, without obligation so to
<br />do and without notice to or demand upon Trustor and without relieving Trustor from any
<br />obligation, may make or do the same in such manner and to such extent as either may deem
<br />necessary to protect the security hereof. Trustor shall, immediately upon demand therefor by
<br />Beneficiary, pay all costs and expenses incurred by Beneficiary in connection with the exercise
<br />by Beneficiary of the foregoing rights, including, without limitation, costs of evidence of title,
<br />court costs, appraisals, surveys and attorney 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
<br />Note.
<br />6. Eminent Domain. Should the Trust Estate, or any part thereof or interest therein, be
<br />taken or damaged by reason of any manner including deed in lieu of condemnation
<br />( "Condemnation "), or should Trustor receive any notice or other information regarding such
<br />proceeding, Trustor shall give prompt written notice thereof to Beneficiary. Beneficiary shall be
<br />entitled to all compensation, awards, and other payments or relief therefor and shall be entitled
<br />at its option to commence, appear in, and prosecute in its own name any action or proceedings.
<br />Beneficiary shall also be entitled to make any compromise or settlement in connection with such
<br />taking or damage. All such Compensation, awards, damages, rights of action, and proceeds
<br />awarded to Trustor (the "Proceeds ") are hereby assigned to Beneficiary, and Trustor agrees to
<br />execute such further assignments of the Proceeds as Beneficiary or Trustee may require.
<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
<br />county in which the Trust Estate is located, and by otherwise complying with the provisions of
<br />the applicable law of the State of Nebraska, substitute a successor or successors to the Trustee
<br />named herein or acting hereunder.
<br />8. Successors and Assigns. This Deed of Trust applies to, inures to the benefit of, and
<br />binds all parties hereto, their heirs, legatees, devisees, personal representatives, successors,
<br />and assigns. The term "Beneficiary" shall mean the owner and holder of the Note, whether or
<br />not named as Beneficiary herein.
<br />9. Inspections. Beneficiary, or its agents, representatives, or workmen, are authorized to
<br />enter at any reasonable time upon or in any part of the Trust Estate for the purpose of
<br />inspecting the same and for the purpose of performing any of the acts it is authorized to perform
<br />under the terms of any of the Loan Instruments.
<br />10. Events of Default. Any of the following events shall be deemed an event of default
<br />hereunder:
<br />{L0550262.1 }
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