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<br />DEED OF TRUST
<br />(Continued)
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<br />200710071
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<br />Page 3
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<br />whether fee tille to the leasehold premises, the leasehold estate, or any subleasehold estate, will merge without Lender's express written consent; rather
<br />these estates will remain separate and distinct, even if there is a union of these estates in the landlord, Grantor, or a third party who purchases or
<br />otherwise acquires the estates. Grantor further agrees that if Grantor acquires all or a portion ot the lee simple tille, or any other leasehold or
<br />subleasehold tille to the Property, thettitle will, at Lender's option, immediately become subject to the terms 01 this Deed of Trust, and Grantor will
<br />-execute, deliver and record all documents necessary or appropnate to assure that such title is secured by this Deed of Trust.
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<br />6. REHABILITATION LOAN AGREEMENT. Grantor Shall fulfill all of Grantor's obligations under any hDme rehabilitation, improvement, rapair, or other
<br />loan agreement which Grantor may enter into with Lender. Lender, at Lender's option, may require Grantor to execute and deliver to Lender, in a lorm
<br />acceptable to Lender, an assignment of any rights, claims or defenses which Grantor may have against parties who supply labor, materials or services
<br />in connection with improvements made to the Property.
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<br />7. DUE ON SALE - CONSENT BY LENDER. lender may, at its option, have the right to acceierate, that is, declare immediately due and payable all
<br />sums secured by this Deed 01 Trust upon the sale or transfer, without the lender's prior written cDnsent, of all or any part 01 the Real Property, or any
<br />interest in the Real Property. II Grantor sells or transle~ the Real Property without the written cDnsent Df Lender, then, prior to acceleration Lender shall
<br />give notice to Grantor. The notice shall provide a period of not less than ten (10) days from the date of the notice within which Grantor may pay the
<br />sums declared due_ II Grantor fails to pay those sums prior to the expiration of such period, Lender may, without further notice or demand on Grantor,
<br />invoke any remedies permitted in this Deed of Trust. A "sele or transfer" means the conveyance of Real Property or any right, title or interest therein;
<br />whether legal or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed.
<br />leasehold interest with a term greatar than three (3) yea~,lease-option contract, or by sale, assignment, or transfer of any beneficial interest in or to any
<br />land trust holding title to the Real Property, or by any other method of conveyance of Real Property interest. However, this option shall not be exercised
<br />by Lender if such exercise is prohibited by federal law or by Nebraska law.
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<br />8. TRANSFER OF PROPERTY. The following provisions relating to the transfer of the Reel Property are a pan of this Deed of Trust:
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<br />Notice of Transfer. Grantor Shall give notice tD Lender, as provided in this Deed of Trust, prior to any sale or transfer of all or pan of the Property
<br />or any rights in the Real Property. Any pe~on to whom all or pan of the Real Property is sold or transferred also shall be obligated to give notice
<br />to Lender, as provided in this Deed of Trust, promptly after such transfer.
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<br />Advances AMer Transfer. All amounts advanced under the LOANLlNER@ Home Equity Plan Credit Agreement, up to the Credit Limit, an
<br />securad by this Deed of Trust, whether advanced before or after sale or transfer of the Real Propeny, except any amounts which may be
<br />advanced by Lender more than five (5) days after notice to Lender. as provided in this Deed of Trust, that such transfer or sale has occurred.
<br />Even if Grantor transfers the Real Property, Grantor will continue to be obligated under the Credil Agreement and this Deed of Trust unless Lender
<br />reieases Grantor in writing. As a condition to Lender's consent to any proposed transfer or as a condition to the release of Grantor, Lender may
<br />require that the pe~on to whom the Real Property is transferred sign an assumption agreement satisfactory to Lender and Lender may impose an
<br />assumption fee. The assumption agreement will not entitle the person signing it to receive advances under the Credit Agreement.
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<br />9. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Propeny are a pan Of this Deed of Trust.
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<br />PlIYmen1. Grantor shall pay when due (and in all events prior tD delinquency) all taxes, specialtexes, assessments, charges (including water and
<br />sewer), fines and impositions levied against or on accouni of the Property, and shall pay when due all claims for work done on or for S8fV1ces
<br />rendered or material furnished to the Property, Grantor shall maintain the Property free of all liens having priority over or equal to the interest of
<br />lender under this Deed of Trust, except for the lien Of taxes and assessments not due, except for the eXisting Indebtedness referred to below, and
<br />except as otherwise provided in this Deed of Trust.
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<br />RighI To Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a gODd faith dispute over the obligation to
<br />pay, so long as lender's interest In the Property is not jeopardized, If a lien anses or is filed as a result of nonpayment, Grantor shall within fifteen
<br />(15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Grantor has notice of the filing, secure the discharge of the lien, or if
<br />requested by Lender, deposii with Lender cash or a sufficient corporate surety bond or other security satisfactory to lender in an amount sufficient
<br />to discharge the lien plus any costs and attorney!' fees or other charges that COUld accrue as a result of a foreclosure or saieunder the lien. In
<br />any contest, Grantor shall defend itself and lender and shall satisfy any adverse judgment before enforcement againsl the Property. Grantor Shall
<br />name lender as an additional obligee under any surety bond furnished in the contest proceedings.
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<br />Evidence of PlIYment. Grantor shall upon demand furnish to Lender satislactory evidence of payment of the taxes or assessments and Shall
<br />authorize the appropriate governmental Dfficial to deliver to lender at any time a writlenstatement of the taxes and assessmer.ts against the
<br />Property.
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<br />Notice of Construction. Grantor shall nDtify Lender at leasl fifteen (15) days before any work is commenced, any services are furnished, or any
<br />materiels ara supplied to the Property, If any mechanic's lien, materialmen's lien, or other lien cDuld be asserted on account of the work, services,
<br />or malerials and the cost exceeds :$10,000.00. Grantor will upon requesi of lender furnish to lender advance assurances saltsfaclory to lender
<br />that Grantor can and will pay the cost of such improvements.
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<br />10. PROPERTY INSURANCE The follDwing provisions relating to insuring the Property are a pan of this Deed of Trust.
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<br />Maintenance of Insurance. Grantor Shall procure and maintain policies of fire insurance with standard extended coverage end~ments on a
<br />replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any
<br />coinsurance clause, and with a standard mortgagee ciause in favor of Lender, together with such other hazard and liability insurance as Lender
<br />may reasonably require. If the Real Property is located in an area designated by the Direclor of the Federal Emergency Management Agency as a
<br />special flood hazard area, GrantDr agrees to obtain Federal Flood Insurance to the extent such insurance is required and is available. Policies
<br />shall be written in fDrm, amounts, coverages and baSIS reasonably acceptable to lender and Issued by a company or companies reasonably
<br />acceptable to Lender. Grantor, upon request of Lender, will deliver to lender from lime to time the policies or certificates of insurance in form
<br />salistactory tD lender, including stipulations that coverages will nof be cancelled or diminished without at least ten (10) days' prior written notice to
<br />Lender.
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<br />Application of Proceeds. Grantor shall promplly notify lender Of any loss or damage to the Property if the estimated cost of repair or
<br />replacement exceeds :$10,000.00. lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. If, in lender's
<br />judgment, the restoration or repair is econDmically feasible and Lender's security is not lessened, insurance proceeds shall be applied to
<br />restoration or repair of the damaged Property. If the restoration or repair is not economically teasible or lender's security would be iessened, the
<br />insurance proceeds shall be applied 10 the sums secured by this Deed of Trust whether Dr nolthen due, with any excess paid to Grantor. If
<br />Granlor abandons the Property, or does not answer within thirty (30) days a notice from lender that the insurance carrier has offered to seine a
<br />claim, then lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by
<br />this D&ed of Trust, whether or not then due. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shatl be paid
<br />to Grantor as Grantor's interests may appear.
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