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<br />08-01-1988
<br />Lop.n No 5571
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<br />DEED OF TRUST
<br />(Continued)
<br />
<br />88-
<br />
<br />102842
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<br />Page 2
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<br />Duty to Maintain. Grantor shall maintain tho Proporty In tenantable condItion and prompUy perform all repairs and maintenance necessary to
<br />",reserve Its valUG.
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<br />HlIzardoua Substancea. Granlor reprosents and warrants that the Property never has been, and never will be 90 long as this Deed of Trust
<br />remains a lien on the Property, used for the generation, manulacture, storlgO, treltment, disposal, release Or threatened release of any hlZarclous
<br />subslance, 89 those teIm9 are defined In the Comprehensive Environmental Response, Compensation and Uablllty Act of 1980, as amended, 42
<br />U.S.C. Secllon 9601, fit ooq. ("CERClA"), the SUperfund Amendments and Reauthorization Act C'SARAj, applicable state laws, or regulAtions
<br />adopted pul'Btlant to any 01 the foregoing. Grantor authorizes Lender and Its agents to enter upon the Real Property to make such Inspections
<br />and tests as Lender may deem appropriate to determine compliance ollhe Proper1y with IhIs peragrllph. Any Insp9C1ions or te8tIllTlllCle b'f Lender
<br />shall be lor Lender's purposes only and shall not be construed to create any reeponslblllty or liability on the part 01 Lender to Grantor Or to any
<br />other person. Grantor agrees to indemnify and hold Lender harmaes against any and all claims and losses resulting from I breaCh of this
<br />paragn:ph 01 the Deed 01 Trust. Thls obligation to Indemnity shall survive the payment of the Indeb.edness and the 8IIlIsIaciIon ollhls Deed of
<br />Trust
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<br />Nulaa,... Waa'" Grantor shall not cause, conduct or permit any nuisance nor commit or suiter any strip or wasto on or to the Property or any
<br />portion lhereof 01 the Prtlperty. Spectflcally withoutlimitllllon, Grantor win not remove, or grant to any other party the right to remove, any limber,
<br />mlnerllls (including 011 and gas), soli, gravel or rock products without the prior written consant of Lender.
<br />
<br />Removal 0' Improvements. Grantor shall not demolish or remove any Improvements trom the Real Proper1y without the prior wril'.en consent 01
<br />Lender. As a oondltlon to the removal 01 any Ill1)rovements, Lender may require Granlor to make arrangements sa1istactory to Lender to replace
<br />such Ill1)rovements with Improvements of at least equal value.
<br />
<br />l.ender'a Right to Enter. Lender and lis agents and representatives may enter upon lhe Real Property at l1li r88lllOnable times to attend to
<br />Lender'lIlnterests and 10 Inspect lhe Property lor purposes 01 Grantor's compliance with the terms and r.ondillons 01 thIlI Deed of Trust
<br />
<br />CompUan~ with Governmental Requirements. Grantor shall prompUy comply with l1li laws, ordlnancee. and regulations 01 all governmental
<br />authorltlos applicable to the use or occupancy 01 the Property. Grantor may conlest In good laith any such law, ordinance, or regulation and
<br />withhold coll1)lIanoo during any proceeding, Includlng appropriate appeals, so long as Grantor has notilled Lender In wr1tIng prior to doing so and
<br />80 long as Lender's Interests in lhe Property !1m nol jeopardized. Lender may require Grantor to post adequate security or . 9UrB!y bond.
<br />reasonably satlsfactory to lender, to protect lender's interest.
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<br />Duty to Protec:t. Grantor shaH do all other acts, In addition to those acts sol forth above In this sectlon, which from the character and use of the
<br />Property 1118 roa.oonably necessary 10 prolect and preserve lhe Property.
<br />
<br />DUE ON SALE - CONSENT BY LENDER. Lender may at its option, declare IlTVTledlalely due and payable all sums secured by this Deed of Trust upon
<br />the sale or transfer, without the Lender's prior written consenl, of &II or any part ollhe Real Proper1y, or any Interest in the Real Property. A "sale or
<br />transfer" means lhe conveyanco tll real property or any right, title or Interest lhereln; whelher legal or equitable; whether voluntary or involum.y;
<br />whether by outlight lillie, deed, Installmenl sale contracl, land contract, contract lor deed, leasehold Intorest with . term greater than three )'NI'S,
<br />leaoo-option oontract. or by sale, assignment. or transfer 01 any benellclallnterest In or 10 any land trusl holding title to the Real Property, or by any
<br />other method 01 conveyance 01 real property Interest. II any Grantor Is a corporation or partnership. transler aI90 includes any change in ownership 01
<br />more Ihan twenty-five percent (25%) 01 the voUng stock or partnership InteroslS, as the ceo may be. 01 Grantor. However, this option shal not be
<br />exercised by Lender If exerclse Is prohlblled by loderallaw or by Nebraskllaw.
<br />
<br />TAXES AND UEN5. The IoIoWlng provlslona relating to the w8flllIld liens on the Property 819 a part 01 thla Deed of Trust.
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<br />P~ent. Grantor shal pay when due before they become delinquent .. tD8ll, special tn.., a..lI.m8n!S. ch8rg8S (Inclucing w" and __).
<br />fines and ~sItlons levied lIQalnst or on account 01 the Property. and shall pay when due all claims tor wort< done on or for servIoIIII rendered or
<br />matorllllurnlsh&d 10 the Proporty. Grantor sh.., maintain the Property tree 01 all IIen9 having priority over or equllto the Interest of Lender under
<br />thl9 Deed of Trust, excecJl for tho lion of taxes and Il58OSSm8nts not due except.. olherwll8 provided In this Deed of Trust
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<br />Evidence or PaymenL Grantor shall ,upon demand furnish 10 l.ender ovlool'Ce 01 paymenl 01 the taxes or assessments and shall authorize the
<br />approprlllte governmental olllclalto deliver to Lender at any lime a Mlnon stalOl1l8nt 01 tho taxes and ISSOSSIllOnts agllinst the Property.
<br />
<br />PROPERTY DAMAGE INSURANCE. Tho lollowing provisions rolllllng 10 Insuring lhe Proper1y are a paf1 ollhls Deed of Trust
<br />
<br />MAIntenance of Inaul1lnc.. Grantor shall procuro and maintain policies 01 IIro Insurance with slandll/'d OlltOnded coverage endorsements on a
<br />replacement basis lor the lull Insurable value covering aIllmprovomonts on lhe Real Property In an amoUllt sulficlont to avoid eppllcalion of any
<br />coinsurance claul8, and with a standard mortgagoo clauso In lavor 01 londoi', Pollcles llhd be wrItton In form, amounts. covtngle and basis
<br />r88lllO"ably IICCBPtable to Lender and issued by II company or compAl'llM r8l!lOn.bIy acceptable 10 Lender. Granl!)/', upon requMl: of LenGiIt, wiI
<br />deliver to Lender from time to lime the polk:los or certificates 01 Insurance In form sallslllCtory to lender, Inclucing stipulations thai cover~ will
<br />nol be cancelled or diminished wilhout lit least ten (101 daVS prior wrlnen notice to Lendor.
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<br />AppllcaUon 0' Pf'OC*lda. Granlor shall prompdy notily Lender 01 any loss or damage to lho Proper1y. Lender may make prool of loss " Grantor
<br />fails to do so wilhin fifteen (15) days ollhe casually, Whelher or nol Lender's security Is impaired, Lencle: may, at Its election, apply the proooeds
<br />10 the reduction 01 the Indebtedness. payment ollny tien .fIeetlng the P!'Qpe!1y, or the restoralkln and repair of the Property. "Lender elects 10
<br />IIppIy the procoods to restoration and repair, Grantor shall replir or replllC8 the damaged or destroyed Improvements In a manner satisfacklfY to
<br />Lender. Lender shall, upon saUslactoIY proof 01 such expendllure, payor reimburse Grantor from the procoocls for the reuonable cost of ~air
<br />or restoration If Grantor Is not In defauh under this Deed 01 Trust Any procoeds which have nol boon disbursed WIthin 180 days dlrthelr receipt
<br />and which lenOOr h85 not commined to lhe repair or rostoralion 01 the Properly shall be used tlrstlo pay any amount owing to Lender under this
<br />Deed of Trust, then to prepay accrued interest, and the remainder, II any, shall be appllod to lhe prlnctpal balance of the Indebtedness. If Lender
<br />holds any proceecls after payment In lull af the Indebtedness. such procoods sh811 be paid 10 Grantor as Grantor's Interests may 1Ipp4W'.
<br />
<br />Unoplred Insurance at Sal.. Any unexpired Insurance shall Inure 10 lhe bonolil ai, and pass to, lhe purchaser of the Property covered by this
<br />Deed 01 Trust at any trustee's sale or olher solo held under lhe provisions ollhls Dood 01 TruSI. or III any foreclosure sale 01 such Property.
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<br />Gl1Ifttor'. Report on Insurance. Upon request of Lender, however not moro thin onco I yoar, Grllntor shall furnish 10 Lender a report on each
<br />exlsUng poHcy of Insurance showing: (s) the name 01 the insurer; (b) tho rl9lcs Insured; (c) the amount of lhe polley; (d) the property insured, lhe
<br />thon current replacement villus of such property, and the manner 01 ootormnlng Ihat vllluo; and (0) tho expiration date 01 lhe policy. Grantor
<br />shd, upon request 01 Lender, have an Independent appraiser saUsfactory 10 Lender detormlne tho cash value replacement co~ of the Property.
<br />
<br />EXPEHDI1URES BY LENDER. If Grantor lalls to comply willi any provision 01 this Dood of Trusl, or II any action or proceeding Is conTl1llflCed that
<br />would malerlally affect Lerv.ler'a Interests In the Property, Lender on GUlntor's behatl mlY, bul shIll nol be required to, lake any IICtion thai Lender
<br />doems appropriate. Any amount that Lender exponds In 90 doing WIN bear Inloresl althe rlto charged under lhe Note trom the dale Incurred or paid
<br />by Londer to the date of repayment by Grantor. All such expenses, at Lendor'r! option, wtH (al be pllyable on demand, (b) be Idded to lhe balance 01
<br />tho Note and be appor1loned among Bnd be payable with any Installmenl paymon19 to become due during mttlor (I) lho term of any applicable
<br />Insurllnco polley or 01) lhe remaining torm 01 tho Noto, or (e) be treatod as a balloon payment which will be due IInd payable at lhe Note's malurity.
<br />This Deed of ", rust also will B9C\Jre paymenl 01 thooo amounts, The righ19 provided lor In this paragrllph shall be In addition to any other rights or any
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