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<br />Loan No: 807157
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<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200700079
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<br />Page 2
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<br />lender's Right to Enter. lender and lender's agents and representatives may enter upon the Real Property at all reasonable times to
<br />attend to lender's interests and to inspect the Real Property for purposes of Trustor's compliance with the terms and conditions of
<br />this Deed of Trust.
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<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmental authorities applicable to the use or occupancy of the Property. Trustor may contest in good
<br />faith any such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as
<br />Trustor has notified L.ender in writing prior to doing so and so long as, in lender's sole opinion, Lender's interests in the Property are
<br />not jeopardized. l.ender may require Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect
<br />Lender's interest.
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<br />Duty to Protect. Trustor agrees neither to abandon or leave unattended the Property. Trustor shnll do all other acts, in addition to
<br />those acts set forth above in this section, which fron' the character and use of the Property are reasonably necessary to protect and
<br />preserve the Property.
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<br />DUE ON SALE - CONSENT BY lENDER. lender may, at Lender's option, declme immediately due and payable all sums secured by this
<br />Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, or nny interest in the
<br />Real Property. A "sale or transfer" means the conveyance of Real Property or any right, title or interest in the neal Property; whether legal,
<br />beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, instnllment sale contract, land contract, contract'
<br />for deed, leasehold interest with a term greater than three (3) years, lease-option contrnct, or by sale, assignment, or transfer of nny
<br />beneficial interest in or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real
<br />Property. However, this option shall not be exercised by Lendf!r if such exercise is prohibited by federal law or by Nebraska law.
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<br />TAXES AND LIENS, The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
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<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, aSSeSSIllf!nts, charges (including
<br />water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work donf!
<br />on or for serviCf!S renderwl or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority
<br />over or equal to the interest of lender under this Deed of Trust. except for the lien of taxes and assessments not due, except for the
<br />Existing Indebtedness referred to below, and except as otherwise provided in this Deed of Trust.
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<br />Right to Contest. Trustor may withhold payment of nny tax, assessment, or claim in connection with a good faith dispute over the
<br />obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,
<br />Trustor shall within fifteen (15) days after the lien ariSf!S or, if a Iif!n is filed, within fifteen (15) days after Trustor has notice of the
<br />filing, secure the discharge of the lien, or if requested by lender, deposit with Lender cash or a sufficient corporate surety bond or
<br />other security satisfactory to Lender in an amount sufficif!nt to discharge the lien plus any costs and attorneys' fees, or other chargf!s
<br />that could accrue as a result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall
<br />satisfy any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee under any
<br />surety bond furnished in the contest proceedings.
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<br />Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessmf!nts and
<br />shall authorize thf! appropriate governmental official to deliver to lender at any time a written statement of the taxes and assessments
<br />against the Property.
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<br />Notice of Construction. Trustor shall notify lender at lenst fifteen (15) days before (lny work is commenced, any serviCf!s are
<br />furnished, or any materials are supplied to the Property, if any mechanic's lien, materialnwn's lien, or other lien could bf! asserted on
<br />account of the work, services, or materials. Trustor will upon request of L.ender furnish to Lender advanCf! assurances satisfactory to
<br />Lender that Trustor can and will pay the cost of such improvements.
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<br />PROPERTY DAMAGE INSURANCE, The following provisions relating to insuring the Property are a part of this Deed of Trust.
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<br />Maintenance of Insurance. Trustor shall prOCUrf! and maintain policies of fire insurance with standard extended coveragf!
<br />endorsements on a replacement basis for the full insurable value covering all Improvements on the Real Property in an mnount
<br />sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such
<br />other hazard and liability insuranCf! as lender may reasonably require. Policies shall be written in form, amounts, coverages and basis
<br />reasonably acceptable to lender and issued by a company or companies reasonably aCCf!ptable to Lender. Trustor, upon request of
<br />lender, will deliver to lender from time to time the policies or certificates of insurance in form satisfactory to L.ender, including
<br />stipulations that coverages will not be cancf!lIed or diminished without at least ten (10) days prior written notice to Lender. Each
<br />insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any
<br />act, omission or default of Trustor or any other person. Should the Real Property be located in an area designated by thf! Director of
<br />the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees to obtain and maintain Federal Flood
<br />Insurance, if available, lor the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the
<br />maximum policy limits set under the National Flood Insurance Program, or as otherwise required by lender, and to maintain such
<br />insurance for the term of the loan.
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<br />Application of Proceeds, Trustor shall promptly notify Lender of any loss or dnmage to the Property. Lender may make proof of loss
<br />if Trustor fails to do so within fifteen (15) days of the casually. Whether or not Lender's security is impaired, Lender may. at Lender's
<br />election, receive and retain the proceeds of any insurance and apply the procf!f!ds to the reduction of the Indebtedness, payment 01
<br />any lien affecting the Properly, or the restoration and rf!pair of the Property. If Lender elects to apply the proceeds to restoration and
<br />repair, Trustor shall rf!pair or replace the damaged or destroyed Improvf!mf!nts in a manner satisfactory to L.ender. L.ender shall, upon
<br />satisfactory proof of such expenditure, payor reimburse Trustor from the proceeds for the reasonable cost of repair or restoration if
<br />Trustor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their mceipt
<br />and which Lender has not committf!d to the repair or restoration of the Property shall be used first to pay any amount owing to Lender
<br />under this Deed of Trust, then to pay accrued interest. fmd the remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness. If lender holds any proceeds after payment in lull of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustor's interests may appear.
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<br />Compliance with Existing Indebtedness. During the period in which any Existing Indebtedness described below is in efff!ct. compliance
<br />with the insurance provisions contained in the instrument evidencing such Existing Indebtedness shall constitute compliance with the
<br />insurance provisions under this Deed of Trust, to the extent compliance with the terms of this Deed of Trust would constitulf! a
<br />duplication of insurance requirement. If any proceeds from the insurance become payable on loss, the provisions in this Deed of Trust
<br />for division of proceeds shall apply only to that portion of the proceeds not payable to the Iwlder of the Existing Indebtedness.
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<br />lENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all taxes, liens. security interests, encumbrances, and other
<br />claims, (8) to provide any required insurance on the Property, Ie) to rnakf! repairs to thl'! Property or to comply with any obligation to
<br />maintain Existing Indebtedness in good standing as required below, then L.ender may do so. If any action or procf!eding is commenced that
<br />would materially affect Lender's interests in the Property, then lender on Trustor's behalf may, but is not required to, take any action that
<br />Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by lender for such purposes will then bear
<br />interest at the rate charged under the Note from the date incurred or paid by lender to the date of repayment by Trustor. All such
<br />expenses will become a part of the Indebtedness and, at lender's option, will (A) be payable on demand; (B) be added to the balance of
<br />the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any
<br />applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable
<br />at the Note's maturity. The Deed of Trust also will secure payment of these amounts. The rights provided for in this paragraph shall be in
<br />addition to any other rights or any remedies to which lender may be entitled on account of any default. Any such action by Lender shall
<br />not be construed as curing the default so as to bar Lender from flny remedy that it otherwise would have had.
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<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Def!d of Trust:
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<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simplf!, free and clear of all
<br />lif!ns and encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in
<br />any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and (b) Trustor has the full right, power, and authority to eXf!cute and deliver this Deed of Trust to Lender.
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