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200605048
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Last modified
6/6/2006 3:19:53 PM
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6/6/2006 3:19:52 PM
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DEEDS
Inst Number
200605048
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<br />~ <br /> <br />200605048 <br /> <br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage <br />insurance insuring the improvements and buildings constituting part of the Trust Estate for <br />their full insurable value. Such insurance policy shall contain a standard mortgage clause in <br />favor of Beneficiary and shall not be cancelable, terminable or modifiable without ten (10) <br />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 <br />Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust <br />Estate. <br /> <br />4. ACTIONS AFFECTING TRUST EST ATE. Trustor shall appear in and contest any <br />action or proceeding purporting to affect the security hereof or the rights or powers of <br />Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence of title <br />and attorney fees, in any such action or proceeding in which Beneficiary or Trustee may <br />appear. Should Trustor fail to make any payment or to do any act as and in the manner <br />provided in any of the Loan Instruments, Beneficiary and/or Trustee, each in its own <br />discretion, without obligation so to do and without notice to or demand upon Trustor and <br />without releasing Trustor from any obligation, may make or do the same in such manner and <br />to such extent as either may deem necessary to protect the security hereof. Trustor shall, <br />immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by <br />Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including <br />without limitation costs of evidence of title, court costs, appraisals, surveys and attorney fees. <br />Any such costs and expenses not paid within ten (10) days of written demand shall draw <br />interest at the default rate provided in the Note. <br /> <br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest <br />therein, be taken or damaged by reason of any public improvement or condemnation <br />proceeding, or in any other 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 thereofto Beneficiary. Beneficiary shall <br />be entitled to all compensation, awards and other payments or relief therefor, and shall be <br />entitled at its option to commence, appear in and prosecute in its own name any action or <br />proceedings. Beneficiary shall also be entitled to make any compromise or settlement in <br />connection with such taking or damage. All such compensation, awards, damages, rights of <br />action and proceeds to Trustor (the "Proceeds") are hereby assigned to Beneficiary and <br />Trustor agrees to execute such further assignments ofthe proceeds as Beneficiary or Trustee <br />may require. <br /> <br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, <br />by a written instrument executed and acknowledged by Beneficiary, mailed to Trustor and <br />recorded in the County in which the Trust Estate is located and by otherwise complying with <br />the provisions of the applicable law of the State of Nebraska substitute a successor or <br />successors to the Trustee named herein or acting hereunder. <br /> <br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit <br />of and binds all parties hereto, their heirs, legatees, devisees, personal representatives, <br />successors and assigns. The term "Beneficiary" shall mean the owner and holder of any ofthe <br />Notes, whether or not named as Beneficiary herein. <br /> <br />8. INSPECTIONS. Beneficiary, or its agents, representatives or workmen, are <br />authorized to enter at any reasonable time upon or in any part of the Trust Estate for the <br />purpose of inspecting the same and for the purpose of performing any of the acts it is <br />authorized to perform under the terms of any of the Loan Instruments. <br />
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