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<br />200704760
<br />c. Sums Advanced. All sums advanced and expenses incurred by lender under the terms of this Security
<br />Instrument.
<br />4. PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when due and in
<br />accordance with the terms of the Secured Debts and this Security Instrument.
<br />5. WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfully seized of the estate conveyed by
<br />this Security Instrument and has the right to irrevocably grant, convey and sell the Property to Trustee, in trust,
<br />with power of sale. Grantor also warrants that the Property is unencumbered, except for encumbrances of
<br />record.
<br />6. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or
<br />other lien document that created a prior security interest or encumbrance on the Property, Grantor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to lender any notices that Grantor receives from the holder.
<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. TRANSFER OF AN INTEREST IN THE GRANTOR. If Grantor is an entity other than a natural person (such as
<br />a corporation or other organization), lender may demand immediate payment if:
<br />A. A beneficial interest in Grantor is sold or transferred.
<br />B. There is a change in either the identity or number of members of a partnership or similar entity.
<br />C. There is a change in ownership of more than 25 percent of the voting stock of a corporation or similar
<br />entity .
<br />However, lender may not demand payment in the above situations if it is prohibited by law as of the date of
<br />this Security Instrument.
<br />10. WARRANTIES AND REPRESENTATIONS. Grantor makes to Lender the following warranties and
<br />representations which will continue as long as this Security Instrument is in effect:
<br />A. Power. Grantor is duly organized, and validly existing and in good standing in all jurisdictions in which
<br />Grantor operates. Grantor has the power and authority to enter into this transaction and to carryon
<br />Grantor's business or activity as it is now being conducted and, as applicable, is qualified to do so in each
<br />jurisdiction in which Grantor operates.
<br />B. Authority. The execution, delivery and performance of this Security Instrument and the obligation
<br />evidenced by this Security Instrument are within Grantor's powers, have been duly authorized, have received
<br />all necessary governmental approval, will not violate any provision of law, or order of court or governmental
<br />agency, and will not violate any agreement to which Grantor is a party or to which Grantor is or any of
<br />Grantor's property is subject.
<br />C. Name and Place of Business. Other than previously disclosed in writing to lender, Grantor has not
<br />changed Grantor's name or principal place of business within the last 10 years and has not used any other
<br />trade or fictitious name. Without lender's prior written consent, Grantor does not and will not use any other
<br />name and will preserve Grantor's existing name, trade names and franchises.
<br />11. 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 />12. 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 />13. 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 />
<br />Bighorn Enterprises, L. L. c.
<br />Nebraska Deed Of Trust
<br />NE/4XX28424000005900005586019060707Y
<br />
<br />@1996 Bankers Systems, Inc" St. Cloud, MN ~
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<br />Initials
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