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<br />'B. To promptly deliver to Lend!ny notices that Grantor receives from t!older. 20 0 70 3 6 6 1
<br />c. Not to allow any modification or extension of, nor to request any future advances under any note or
<br />agreement secured by the lien document without Lender's prior written consent.
<br />7. CLAIMS AGAINST TITLE. Grantor will pay all taxes, assessments, liens, encumbrances, lease payments,
<br />ground rents, utilities, and other charges relating to the Property when due. Lender may require Grantor to
<br />provide to Lender copies of all notices that such amounts are due and the receipts evidencing Grantor's
<br />payment. Grantor will defend title to the Property against any claims that would impair the lien of this Security
<br />Instrument. Grantor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Grantor
<br />may have against parties who supply labor or materials to maintain or improve the Property.
<br />8. DUE ON SALE OR ENCUMBRANCE. lender may, at its option, declare the entire balance of the Secured
<br />Debt to be immediately due and payable upon the creation of, or contract for the creation of, any lien,
<br />encumbrance, transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed
<br />by federal law (12 C.F.R. 591), as applicable.
<br />9. WARRANTIES AND REPRESENTATIONS. Grantor has the right and authority to enter into this Security
<br />Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing
<br />Grantor or to which Grantor is a party.
<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Grantor will keep the Property in good
<br />condition and make all repairs that are reasonably necessary. Grantor will not commit or allow any waste,
<br />impairment, or deterioration of the Property. Grantor will keep the Property free of noxious weeds and grasses.
<br />Grantor agrees that the nature of the occupancy and use will not substantially change without Lender's prior
<br />written consent. Grantor will not permit any change in any license, restrictive covenant or easement without
<br />Lender's prior written consent. Grantor will notify Lender of all demands, proceedings, claims, and actions
<br />against Grantor, and of any loss or damage to the Property.
<br />No portion of the Property will be removed, demolished or materially altered without Lender's prior written
<br />consent except that Grantor has the right to remove items of personal property comprising a part of the
<br />Property that become worn or obsolete, provided that such personal property is replaced with other personal
<br />property at least equal in value to the replaced personal property, free from any title retention device, security
<br />agreement or other encumbrance. Such replacement of personal property will be deemed subject to the
<br />security interest created by this Security Instrument. Grantor will not partition or subdivide the Property
<br />without lender's prior written consent.
<br />lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of
<br />inspecting the Property. Lender will give Grantor notice at the time of or before an inspection specifying a
<br />reasonable purpose for the inspection. Any inspection of the Property will be entirely for lender's benefit and
<br />Grantor will in no way rely on Lender's inspection.
<br />11. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants contained in this
<br />Security Instrument, Lender may, without notice, perform or cause them to be performed. Grantor appoints
<br />lender as attorney in fact to sign Grantor's name or pay any amount necessary for performance. Lender's right
<br />to perform for Grantor will not create an obligation to perform, and lender's failure to perform will not preclude
<br />lender from exercising any of lender's other rights under the law or this Security Instrument. If any
<br />construction on the Property is discontinued or not carried on in a reasonable manner, lender may take all steps
<br />necessary to protect lender's security interest in the Property, including completion of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Grantor irrevocably assigns, grants, conveys to lender as
<br />additional security all the right, title and interest in the following (Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of the Property, including but not limited to any extensions, renewals, modifications
<br />or replacements (leases).
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents,
<br />additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable
<br />taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss
<br />of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights,
<br />general intangibles, and all rights and claims which Grantor may have that in any way pertain to or are on
<br />account of the use or occupancy of the whole or any part of the Property (Rents).
<br />In the event any item listed as leases or Rents is determined to be personal property, this Assignment will also
<br />be regarded as a security agreement. Grantor will promptly provide lender with copies of the leases and will
<br />certify these leases are true and correct copies. The existing leases will be provided on execution of the
<br />Assignment, and all future leases and any other information with respect to these leases will be provided
<br />immediately after they are executed. Grantor may collect, receive, enjoy and use the Rents so long as Grantor
<br />is not in default. Grantor will not collect in advance any Rents due in future lease periods, unless Grantor first
<br />obtains lender's written consent. Upon default, Grantor will receive any Rents in trust for lender and Grantor
<br />will not commingle the Rents with any other funds. When lender so directs, Grantor will endorse and deliver
<br />any payments of Rents from the Property to lender. Amounts collected will be applied at lender's discretion to
<br />the Secured Debts, the costs of managing, protecting and preserving the Property, and other necessary
<br />expenses. Grantor agrees that this Security Instrument is immediately effective between Grantor and lender
<br />and effective as to third parties on the recording of this Assignment. As long as this Assignment is in effect,
<br />Grantor warrants and represents that no default exists under the leases, and the parties subject to the leases
<br />have not violated any applicable law on leases, licenses and landlords and tenants. Grantor, at its sole cost and
<br />expense, will keep, observe and perform, and require all other parties to the Leases to comply with the leases
<br />and any applicable law. If Grantor or any party to the lease defaults or fails to observe any applicable law,
<br />Grantor will promptly notify lender. If Grantor neglects or refuses to enforce compliance with the terms of the
<br />leases, then lender may, at lender's option, enforce compliance. Grantor will not sublet, modify, extend,
<br />cancel, or otherwise alter the leases, or accept the surrender of the Property covered by the leases (unless the
<br />leases so require) without lender's consent. Grantor will not assign, compromise, subordinate or encumber the
<br />leases and Rents without lender's prior written consent. lender does not assume or become liable for the
<br />Property's maintenance, depreciation, or other losses or damages when lender acts to manage, protect or
<br />preserve the Property, except for losses and damages due to lender's gross negligence or intentional torts.
<br />
<br />Gary E Valasek
<br />Nebraska Deed Of Trust
<br />NE/4XX28424000005900005586013042407Y
<br />
<br />@1996 Bankers Systems. Inc.. St. Cloud. MN ~
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