|
<br />200602987
<br />
<br />,
<br />
<br />DEED O~ ;l:RUST 400600817
<br />(contmu~_RECORDEO 2"'0 0 8 0 2 363
<br />
<br />.'
<br />
<br />'/
<br />
<br />Loan No: 1309157
<br />
<br />Page 2
<br />
<br />of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened
<br />release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the Indebtedness and
<br />the satisfaction and reconveyance of the lien of this Deed of Trust and' shall not be affected by Lender's acquisition of any interest in the
<br />Property, whether by foreclosure or otherwise.
<br />
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to
<br />the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to any other
<br />party the right to remove, any timber, minerals (includiog oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior
<br />written consent.
<br />
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior written
<br />consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory to Lender to
<br />replace such Improvements with Improvements of at least equal value.
<br />
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to
<br />attend to Lender's interests and to inspect the Reat Property,for,pyrposes of Trustor's compliance with the terms and conditions of this Deed
<br />of Trust.' " , ,. :" '." . .'. '.
<br />
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or hereafter
<br />in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the Americans With
<br />Disabilities Act. Trustor may contest in good faith any such law, ordinance, or regulation and withhold compliance during any proceeding,
<br />including appropriate appeals, so long as Trustor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion,
<br />Lender's interests in the Property are not jeopardized. Lender may require Trustor to post adequate security or a surety bond, reasonably
<br />satisfactory to Lender, to protect Lender's interest.
<br />
<br />Duty to Protect Trustor agrees neither to abandon or leave unattended the Property. Trustor shall do all other acts, in addition to those
<br />acts set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the
<br />Property.
<br />
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Deed
<br />of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest in the Real Property.
<br />A "sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal, beneficial or equitable;
<br />whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with
<br />a term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust
<br />holding title to the Real Property, or by any other method of conveyance of an interest in the Real Property. However, this option shall not be
<br />exercised by Lender if such exercise is prohibited by federal law or by Nebraska law.
<br />
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
<br />
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water
<br />and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for
<br />services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority over or equal to the
<br />interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this
<br />Deed of Trust.
<br />
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation
<br />to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment, Trustor shall within
<br />fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Trustor has notice of the filing, secure the discharge of the
<br />lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an
<br />amount sufficient to discharge the lien plus any costs and attorneys' fees, or otner charges that could accrue as a result of a foreciosure or
<br />sale under the lien. In any contest, Trustor shall defend Itself and Lender and shall satisfy any adverse judgment before enforcement against
<br />the Property. Trustor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.
<br />
<br />Evidence of Payment Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
<br />authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
<br />Property.
<br />
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or
<br />any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work,
<br />services, or materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Trustor can and
<br />will pay the cost of such improvements.
<br />
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
<br />a fair value basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of
<br />any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Trustor shall also procure and maintain comprehensive
<br />general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in
<br />such liability insurance policies. Additionally, Trustor shall maintain such other insurance, including but not limited to hazard, business
<br />interruption, and boiler insurance, as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of
<br />Lender, will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations
<br />that coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each insurance policy also
<br />shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of
<br />Trustor or any other person. The Real Property is or will be located in an area designated by the Director of the Federal Emergency
<br />Management Agency as a special flood hazard area. Trustor agrees to obtain and maintain Federal Flood Insurance, if available, for the full
<br />unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the
<br />National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan.
<br />
<br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may make
<br />T rusM ftlII8-..... wlthlA flfteel'l. ."
<br />receIve and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien affecting
<br />the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Trustor shall
<br />repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such
<br />expenditure, payor reimburse Trustor from the proceeds for the reasonable cost of repair or restoration if Trustor is not in default under this
<br />Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt and which Lender has not committed to the
<br />repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued
<br />interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment
<br />in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's interests may appear.
<br />
<br />Trustor's Report on Insurance. Upon request of Lender, however not more than once a year, Trustor shall furnish to Lender a report on
<br />each existing policy of insurance showing: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy; (4) the
<br />property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the expiration
<br />date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine the cash value
<br />replacement cost of the Property.
<br />
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Trustor
<br />fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Trustor's failure to discharge or pay
<br />when due any amounts Trustor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Trustor's behalf
<br />may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes,
<br />liens, security interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring, maintaining
<br />and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under
<br />
<br />
<br />f of 108$ if
<br />
|