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<br />200602583
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<br />Trustor covenants that (i) Trustor holds title to the Trust Estate and has lawful authority to encumber the Trust Estate,
<br />(ii) the Trust Estate is free and clear of all liens and encumbrances except for casements, restrictions and covenants of record and
<br />the Deed of Trust from Trustor encumbering the Property dated on or about the date hereof (the "First Deed of Trust"), and
<br />(iii) Trustor will defend the Trust Estate against the lawful claims of any person.
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<br />To Protect the Security ofthis Second Deed of Trust:
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<br />I. Payment of Indebtedness. Trustor shall pay when due the principal of, and the interest on, the Indebtedness
<br />and all other sums as provided in the Loan Instruments.
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<br />2. Taxe.~. Trustor shall pay each instal1ment of all taxes and special assessments of every kind, now or hereafter
<br />levied against the Trust Estate or any part thereot; before delinquency, without notice or demand.
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<br />3. Insurance and Repairs. Trustor shal1 maintain fire and extended coverage insurance insuring the
<br />Improvcments constituting part ofthe Trust Estate for such amounts and on such terms reasonably satisfactory to Beneficiary. So
<br />long as the Property is sccured by a first deed oftrust or mortgage, compliance with the insurance requirements of the First Dced
<br />of Trust or mortgagc shal1 be sufficient to satisfy the requirements of this paragraph 3 relating to insurance.
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<br />Trustor shall promptly repair and rcplace the Trust Estate or any part thcreof so that, except for ordinary wear and tear,
<br />the Trust Estate shall not deteriorate. In no cvent shall the Trustor commit wastc on or to the Trust Estate, or commit, sufTer or
<br />permit any act to be done in or upon the Trust Estate in violation of any law, ordinance or regulation. Trustor shall pay and
<br />promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposcd or assessed against the
<br />Trust Estate or any part thereof.
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<br />4. Actions Affecting Trust Estate. Trustor shall appear in and contest any action or proceeding purporting to
<br />affect thc security hereof or the rights or powers of Beneficiary or Trustee, and shall pay al1 costs and expenses, including cost of
<br />evidence of title and attorneys' fees, in any such action or proceeding in which Beneficiary or Trustee may appear. If Trustor
<br />fails to make any payment or to do any act as and in the manner provided in any of thc Loan Instruments, Beneficiary and/or
<br />Trustee, cach in their own discretion, without obligation so to <\0 and without notice to or dcmand upon Trustor and without
<br />rcleasing Trustor from any obligation, may make or do the same in such manner and to such extent as either may dccm necessary
<br />to protcct the security hereof. Trustor shall, immediately upon demand therefor by Beneficiary, pay al1 costs and expcnses
<br />incurred by 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 attorneys' fees.
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<br />5. Eminent Domain. If the Trust Estate, or any part thereof or interest therein, be taken or damaged by reason
<br />of any public improvement or condemnation proceeding, or in any other manner including deed in lieu thereof
<br />("Condemnation"), or if Trustor receives any notice or other information regarding such proceeding, Trustor shall give prompt
<br />written notice thereof to Beneficiary. Trustor shall be entitled to all compensation, awards and other payments or relief thercof
<br />and shall be entitled at its option to commence, appcar in and prosecute in its own name any action or procecdings. Trustor shall
<br />also be cntitled to make any compromise or settlement in connection with such taking or damage.
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<br />6. Appointment of Successor Trustee. Beneficiary may, from time to time, by a written instrument executed
<br />and acknowledged by Beneficiary, mailed to Trustor and recorded in the County in which the Trust Estate is located and by
<br />othcrwise complying with thc provisions of the applicable law of the State of Nebraska substitute a successor or succcssors to the
<br />Trustee named hcrcin or acting hereunder.
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<br />7. Succes.~ors and Assigns. This Second Deed of Trust applies to, inures to the benefit of and binds all parties
<br />hereto, their heirs, legatees, dcvisees, personal representatives, successors and assigns. The term "Beneficiary" shall mean the
<br />owner and holder of any promissory note given to beneficiary.
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<br />8. Merger, Consolidation, Sales or Leases. Trustor covenants that Trustor will not sell, lease or othcrwise
<br />dispose of any of the Trust Estate. In thc event that Trustor sells, leases or otherwise disposes of any part of the Trust Estate,
<br />Beneficiary may at its option declare the Indebtedness secured hereby immediately due and payable, whether or not any default
<br />exists. Beneficiary shall consent to a transfer of the Trust Estate to a third party to the extent such third party meets the
<br />requirements contained in, and assumes the obligations set forth in the First Deed of Trust. The covenants containcd herein shall
<br />run with the Propcrty and shal1 remain in full force and effect until the Indebtcdness is paid in full.
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<br />9. Events of Default. Any of the fol1owing events shall be deemed an event of default hereunder:
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<br />NIFA MRB/Form II
<br />(10/05)
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