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200609516 "Notwithstanding anything contained in this subsection to the contrary, prior to Lender exercising its rights hereunder, Lender shall provide Trustor with written notice of Trustor's failure to comply with the terms of this section and Trustor shaH have thirty (30) days to cure such failure or if such failure cannot be cured within such thirty (30) day period, such longer period of time so long as Trustor commences the cure within such thirty (30) day period and diligently pursues the cure to completion." f. Condemnation. i. Application of Net Proceeds. Notwithstanding anything contained in this provision to the contrary, so long as there exists no Event of Default continuing beyond any applicable cure period, then Lender and Trustee shall make the insurance proceeds available for the restoration and payout such proceeds to Trustor. Tn the event Trustor elects not to restore the Property then Lender and Trustee shall have the right to apply the proceeds to the Indebtedness. g. Security Al!reement: Financinl! Statements. I. Security Interest. This provision is hereby amended by deleting the words "three (3)" in the seventh line in their entirety and substituting the words "fifteen (15) business" in lieu thereof. h. Events of Default. I. Defective Collateralization. The following language shall be added at the end of the sentence: "except as a result of the acts or omissions of Trustee or Lender; provided, however, if the Deed of Trust or any ofthe Related Documents cease to be in full force and effect, Trustor agrees to cooperate with the Lender and Trustee to correct any invalid document." II. Death or Insolvencv. The following language shall be added at the end of the sentence: "which proceeding has not been discharged within forty-five (45) days." III. Events Affectinl! Guarantor. The provision is hereby deleted in its entirety and the following shall be substituted in lieu thereof: "Any of the preceding events occurs with respect to any Guarantor, of any of the Indebtedness or any Guarantor, revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness." v. Adverse Chanl!e. This provision is deleted in its entirety. VI. Insecurity. This provision is deleted in its entirety. vii. Ri~ht to Cure. The provision is hereby deleted in its entirety and the following is substituted in lieu thereof: "If any default, other than a default in payment, is curable, it may be cured if Trustor or Guarantor, after receiving written notice from Lender demanding cure of such default: (1) cures the default within thirty (30) days; or (2) if the cure requires more than thirty (30) M:\MSIDEVLP\ST A TES\Nebraska\Riverbend II Grand Island NEID. Legal\Loan Documents\Addendum to Construction Deed of Trust(final).doc