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88102845
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Last modified
3/9/2007 5:41:21 PM
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3/9/2007 4:35:36 AM
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DEEDS
Inst Number
88102845
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<br />88- 102845 <br /> <br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, <br />with interest thereon at the rate of 9t percent per annum. <br /> <br />This Deed of Trust, the Note, and any other instrument given to evidence or <br />further secure the payment and performance of any obligation secured hereby are <br />referred to collectively as the "Loan Instruments". <br /> <br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST: <br /> <br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, <br />and the interest on, the indebtedness evidenced by the Promissory Note of even <br />date herewith. <br /> <br />2. TAXES. Trustor shall pay each installment of all taxes and special <br />assessments of every kind, now or hereafter levied against the Tru~t Estate or <br />any part hereof, before delinquency, without notice or demand, and shall provide <br />Beneficiary with evidence of the payment of same. Trustor shall pay all taxes <br />and assessments which may be levied upon Beneficiary's interest herein or upon <br />this Deed of Trust or the debt secured hereby, without regard to any law that may <br />be enacted imposing payment of the whole or any part thereof upon the <br />Beneficiary. <br /> <br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended <br />coverage insurance insuring the Dmprovements and buildings constituting part of <br />the Trust Estate for an amount no less than the amount of the unpaid principal <br />balance of the Note (co-insurance not exceeding 80% permitted). Such insurance <br />policy shall contain a standard mortgage clause in favor of Beneficiary and shall <br />not be cancellable, terminable, or modifiable without ten (10) days prior written <br />notice to Beneficiary. Trustor shall promptly repair, maintain and replace the <br />Trust Estate or any part thereof so that, except for ordinary wear and tear, the <br />Trust Estate shall not deteriorate. In no event shall the Trustor commit waste <br />on or to the Trust Estate. <br /> <br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any <br />action or proceeding purporting to affect the security hereof or the rights or <br />powers of Beneficiary or Trustee, and shall pay all costs and expenses, including <br />cost of evidence of title and attorney's fees, in any such action or proceeding <br />in which Beneficiary or Trustee may appear. Should Trustor fail to make any <br />payment or to do any act as and in the manner provided in any of the Loan <br />Instruments, Beneficiary and/or Trustee, each in its own discretion, without <br />obligation, may make or do the same in such manner and to such extent as either <br />may deem necessary to protect the security hereof. Trustor shall, immediately <br />upon demand therefor by Beneficiary, pay all costs and expenses incurred by <br />Beneficiary in connection with the exercise by Beneficiary of the foregoing <br />rights. including, without limitation. costs of evidence of title, court costs. <br />appraisals, surveys and attorney's fees. Any such costs and expenses not paid <br />within ten (10) days of written demand shall draw interest at the default rate <br />provided in the Note. <br /> <br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or <br />interest therein, be taken or damaged by reason of any public improvement or <br />condemnation proceeding, or in any other manner including deed in lieu of <br />Condemnation ("COndemnation"), or should Trustor receive any notice or other <br />information regarding such proceeding, Trustor shall give prompt written notice <br />thereof to Beneficiary. Beneficiary shall be entitled to all compensation awards <br />and other payments or relief therefor, and shall be entitled to make any <br />compromise or settlement in connection with such taking or damage. All such <br />compensation, awards, damages, rights of action and proceeds awarded to Trustor <br />(the "Proceeds") are hereby assigned to Beneficiary; and Trustor agrees to <br />execute such further assignments of the Proceeds as Beneficiary or Trustee may <br />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 <br />Trustor and recorded in the County in which the Trust Estate is located and by <br />otherwise complying with the provisions of the applicable law of the State of <br />Nebraska substitute 8 successor or successors to the Trustee named herein or <br />acting hereunder. <br /> <br />7. S:ICCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the <br />h(loefit of and b.~nd9 all parties hereto, their heirs, legatees, devisees, <br />porno:'!al representat.iveG, successors and assigns. The term "Beneficiary" shall <br />
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