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87— 105562 4317 0619 5200 2766 NOTICE: THIS DEER OF TRUST SHALL CONSTITUTE A CONSTRUCTION SECURITY AGREEMENT WITHIN THE MEANING OF THE NEIIRAW CONSTRUCTION LIEN ACT IN THE EVENT THE AMOUNTS ADVANCED UNDER THE LINE OF CREDITARE USED TO FINANCE IMPROVEMENTS TO THE PROPERTY DESCRIBED IN THIS DEED OF TRUST, Loan Ne. . DEED OF TRUST THIS DEED OF TRUST Is made this loth day at Sttac y® i7 .., among the Truster S e.rir �t1d ICaT t,ritiner__a_ (herein "Borrower'), FirTi_ &L mil �.AGtTl- n,_ _- Aaaa on of Lincoln. (heroln "Trusloe , and the Beneficiary, Ff of t dFral Sevin an I, aan ton Organized and exehng unedr the laws ot. S , of America -, whose address Is th 6 Street. Lincoln. Nebraska _T _ T -� - - --_ -� T, �._._... _.._�...._...__...___ -�_ _ -- -- (herein "Lendol'). Borrower, in consideration of the Indebtedness herein recited and the trust heroin created, irrevocably grants and convoys to Trustee, in trust with boron Of sale, the following IteeCrfb d property Wooled In the County of __ Ball T Stste of Nebraska: Legal Description: See Attached Exhibit "All In addition to granting and conveying to Trustee, in trust, with power of sale, the property described above, we also grant and convey to Trustee, in trust, with power of sale, the following interests relating to that property: (a) all buildings and other structures located on the property; (b) all rights we may have In any roads and alloys next to the property or in any minerals, oil and gas rights and profits, water, water rights, and water stock which are a part of the property; (c) all rents and royalties from the property and any proceeds from the condemnation of, or Insurance payments concerning Iowa to, the property; and(d) all fixtures now on the propertyor later placed on the property, including roplacements of, and additions to. those fixturoa Our grant and conveyance to Trustee of the rights and interests described above includes all rights and interests which we now have or which we may acquire in the future. OBLIGATIONS BEING SECURED Wo_�II�1sa��ve ' Ihis Deed of Trust to secure (a) the payment to First Federal Lincoln of a revolving line of credit debt in the amount of U.S...3SIy or so much of that debt as may be outstanding, plus all accrued interest, fees and other charges owed under the First Federal Lincoln Smart Equity Agreement (the "Agreement") relating to this peed of Trust and dated the same date as this Deed of Trust; (t) the payment of any amounts advanced by First Federal Lincoln to protect the security of this Deed of Trust, with interest on those amounts; (c) the performance by the persons who signed the Agreement of their obligations under the Agreement; and (d) our performance of our obligations under this Deed of Trust. This Deed of Trust secures all future advances made under the Agreement and advances which have been repaid may be reborrowed, provided that the maximum aggregate amount of advances to be secured at any one time by this Deed of Trust *MIT not exceed the amount of the revolving line of credit debt set forth above. The Agreement and this Deed of Trust, taken together, are caked the "Credit Documents ". REPRESENTATIONS AND OBLIGATIONS CONCERNING THE PROPERTY We promise that: (a) we lawfully own the Property; (b) we have the right to grant and convey the Property to Trustee: and (c) there are no outstanding claims of charges against the Property other than it a recorded mortgage, deod of trust or other security agreement constituting a first lien position. We agree in the event more than one recorded mortgage, deed of trust or other security agreement Is recorded, the property will not be considered eligible for securing the First Federal Smart Equity Account or agreement unless the recorded mortgage, deed of trust or other security agreement are recorded by and are M favor of First Federal Lincoln in consecutive order and have been recorded in connection with other secured debt to First Federal Lincoln. We give ageneral warranty of title to First Federal Lincoln. This means that we will be fully responsible for any losses which First Federal Lincoln suffers because someone other than us has some of the rights in the Property which we promise that we have. We promise that we will defend our ownaettnip of the Property against any claims of such rights. Weturther promise that we will neither take not permit any action to partition or subdivide all or part of the Property, or change in any way the condition of title to all or part of the Property. PROVISIONS OF THE AGREEMENT We understand that the Agreement calls for a variable interest rate, and that First Federal Lincoln may, prior to the end of the term of the Agreement and under certain circumstances specified in the Agreement, cancel future advances, and/or require repayment of the outstanding balance, under this Agreement. PROMISES AND AGREEMENTS We agred with First Federal Lincoln as follows: 1. PAYMENTOF PRINCIPAL AND INTEREST. Except as limited by paragraph 9 of this Deed of Trust, we shall promptly paywhen required by the Agreement, the principal and interest due under the Agreement, together with any other charges imposed under the Agreement. 2. PRIOR MORTGAGES AND DEEDS OF TRUST: CHANGES: LIENS. We shall fully and timely perform all of our obligations under any mortgage, deed of trust or other security agreement which is prior to this Dead of Trust, including our obligat ions to make any payments when We stall pay or cause to be paid, at least ten (10) calendar days before delinquency, all taxes, assessments and other charges, fines and imposition relating to the Property and all oncumbrances, charges, loans, and liens (other than any prior mortgage or deed of trust) on the Property which may become prior to this Deed of Trust, and leasehold payments or ground rents, if any. We shall deliver to First Federal Lincoln, upon Its request, recelptsevidoncing such payment. If, at the time First Federal Lincoln elects io terminate the line of credit secured by this Deed of Trust (the "Account') as provided in paragraph 16 below, there is an assessment which is payable in installments at our eleCtiOn or at the election of the lessee of the Property, that assessment will nevertheless be considered entirely due and payable on the day the first installment becomes due or payable on lion. 3. HAZARD INSURANCE. We sheik at our cost, keep the improvements now existing or later erected on the Property insured against loss by fire, by hazards included within the term "extended coverage", and by such other hazards (collectively referred to as "Hazards ") as First Federal Lincoln may require, We shall maintain Hazard insurance for the entire term of the Agreemen t, or as long as First Federal Lincoln may requite, in an amount equal to the lesser of (a) the maximum msurh!e value of the property or (b) the amount of the Account plus the wtstattding amount of any obligation prior to this Deed of Trust, but in no event shall such amounts be less than the amount necessary to $*Italy the Coinaurance requirement contained in the insurance policy. We may choose the Insurance company subject to approval by First Federal Lincoln; provided, that such approval may not be unreasonably withheld. All insurance policies, Including renewals, must be in a form acceptable to First Federal Lincoln and must include a standard mortgagets clause in favor of and in a form acceptable to First Federal Lincoln. First Federal Lincoln shall have the right to hold the and renewals, subject to the terms of any mortgage, deed of trust or other security agreement which is prior to this Deed of Trust. if we pay the promiums directly, we shall promptly furnish to First Federal Lincoln all renewal notices and, if requested by first Federal Lincoln, all Of primp Proffisfurnsill, If policies and renewals are held by any other persons, we shall supply copies of them to First Federal Lincoln fay+ (101 ciskilinclar days after they are issued. IntRRi 61141111 of lose. we 8W gkro prompt notice to the Insurance company and First Federal Lincoln. First Federal Lincoln may make proof of Idea It not moo promptly by us. to "$* Wild Terms of any deed of trust of other security agreement whlchIs prior toIhis Deed of Trust. Iheamounts Collected tArpaor FNdi!►ol Liticoln under any Hazard insurance policy may, of First federal Lincoln's sole discretion, oil her be applied to mo Wine seCyred by this Do" of Trust fatter payment of all reasonable costs, expenses and attorneys' fees necessarily paid or incurred by Final P Lincelft and Its In this eorutectic" and in whatever order First Federal Lincoln may determine or be released to us for use in of rag tho Property. First Fi ral Lincoln has the authority to do any of the above. Regardless of any appication or VIM frodistiol Lincoln, as described *bone, this shall not cure or waive any default or notice of default under this Deed of Trust or eeY aC! to etch notes. ff>!Ie a try us, tilt we tail to (ftporsd to First Federal Lincoln in writing within thirty 430) calendar days from the ftate lie a ea r F Llnncoln That the insurance company offers to settle a claim for insurance benefits, First Federal L Incoln M settle the Clilel and to collect and apply the Insurance proceeds at First Federal Lincoln's sole option tithe, to m ins Pr to the "owed by this of Treat. ffgle a 1NrFpstF Lincoln, off ofourtight title srdenteres tinand loony insurance Proceeds resulting from damage to the become the property of First Federal Line oin Ica the extant of the sums secured by this Deed of law !o a IAA N MiY ENANCE OF PROPERTY, LE HOLDS; CONDOMINIUMS. PLANNED UNIT (DFVFLOPME:NIS We (R n the Pr. in comoshancowith applicable laws, statutas. ordinances. ordwii, re titiirorrienls. deernr a ..r rogisAWNWA Property in good condition and respect, issischidtogs the repair or nestotoI tonal any im pr owe me n l 5 on the Profierty which mow to doteatiled er- disetfavesti. and " I Pay when due aftclainsoto# low Perfofined and me too fals1 ,is cis srtRelthrernl,rr .(,'.Ire „tt.� +rnrt +IlOrpe?rntit I