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<br />Loan No: 809638
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<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200806301
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<br />Page 2
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<br />any other party the right to ramove, any timber, mlnarals (InclUding oil .nd gas). co.I, cl.y, scori., soil, gr.val or rock products
<br />without Landar's prior wrlttan conaant,
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<br />Ramoval of Improvamants. Trustor sh.1I not demoli.h or remove any Improvements from the Real Property without Lender's prior
<br />written consent, As S condition to the ramov.1 of .ny Improvements, Lender may require Trustor to mske arrangements satisfactory
<br />to La.nder to rapl.ce such Improvements with Improvements of at least aqua I value.
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<br />Lendar's RIght to Entar. Lendar and Lender's .gents .nd representatives m.y enter upon the Real Property at all reasonable times to
<br />attend to Lender'S Intarests .nd to inspect the Re.1 Property for purpoaes of Trustor's compliance with the terms and conditions of
<br />this Deed of Trust.
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<br />Compliance with Governmenlll Requiremenll, Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmentsl authorities .ppllcsble to the use Or occup.ncy of the Property, including without limitation, the
<br />American. With Dlsabilitie. Act. Trustor may contest In good faith any such I.w, ordin.nce, Or regul.tion .nd withhold compli.nce
<br />during .ny proceeding, including .ppropriate appeal., so long as Trustor has notified Lender In writing prior to doing .0 snd .0 long S',
<br />in Lender's sole opinion, Lender's interests in the Property sre not jeopardized. Lender may require Tru.tor to po.t adequate security
<br />or a surety bond, reasonably satlsfsctory to Lender, to protect Lender's interest,
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<br />Duty to Protect. Trustor .grees neither to .bandon Or le.ve un.ttended the Property. Trustor shall do all other acts, in addition to
<br />tho.a. act. set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and
<br />preserve the Property.
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<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare Immediately due and payable all .um. .ecured by this
<br />Deed of Tru.t upon the ..Ie or tr.nsfer, without Lender's prior written consent, of all or any psrt of the Real Property, or any interest In the
<br />Real Property, A ....Ie or tr.nsfer" me.nsthe convey.nce of Real Property or any right, title or interest in the Resl Property; whether legal,
<br />beneficial or equltsble; whether voluntary or Involuntary; whether by outright sale, deed, installment sale contract, land contract, contract
<br />for deed, leasehold Interest with a term graater than three (3) ye.rs, lease-option contract, or by sale, ..signment, or tr.nsfer of .ny
<br />benefici.1 interest in or to any land trust holding title to the Real Property, or by sny other method of convey.nce of an Intere.t In the Re.1
<br />Property. If any Trustor is a corporation, partnar.hip or limited IIsbillty comp.ny, tr.nsfer .Iso includes .ny ch.nge in ownership of more
<br />than twenty-five percent (25%) of the voting stock, p.rtnership interests or limited liability company intere.ts, as the case may be, of such
<br />Tru.tor. However, this option Shall not be exercised by Lender if such exercise is prohibited by federal law or by Nebraska law.
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<br />TAXES AND LIENS, The following provisions relating to the laxes and lIan. on tha Property sre part of thl. Deed of Trust:
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<br />Peyment. Trustor shall p,y when due (.nd in .11 events prior to delinquency) alltaxe., speclsltaxes, assassmants, chargas (Including
<br />w.ter .nd sewerl, fines .nd impositions levied against or on account of the Property, snd .hall pay when due all claim. for work done
<br />on or for servicea rendered or material furnished to the Property, Trustor shall maintain the Property free of all liens having priority
<br />over or equal to the intere.t of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as
<br />otherwise provided in this Deed of Trust.
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<br />Right to Contest. Trustor may withhold payment of any tax, assessment, Or cl.im in connection with a good faith dispute over the
<br />obligation to psy, so long a. Lender's Interest In the Property is not jeopardized. If a lien srises or is filed as a resull of nonpayment,
<br />Trustor shall within fifteen (151 days after the lien arisas or, If a lien Is flied, within fifteen (15) days after Trustor has notice of the
<br />filing, secure the disch.rge of the lien, or if requested by Lender, deposit with Lender c.sh or a sufficient corporate surety bond or
<br />other security satisf.ctory to Lender in an amount sufficient to discharge the lien plus any cost. and attorney.' fees, or other charges
<br />th.t could .ccrue .s . result of a foreclosure or sale under the lIan. In any contest, Trustor shall defend Itself and Landar and shall
<br />satisfy any adverse judgmant before enforcemant against the Property, Trustor sh.1I name Lender .s .n .dditional obligee under any
<br />surety bond furni.hed in the contast proceedings.
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<br />Evidence of Payment. Trustor shall upOn dem.nd furnish to Lender satisfactory evidence of payment of the taxes or assessments and
<br />shall authorize the appropriate government.1 offici.1 to deliver to Lender at any time a writtan .tatemant of the tsxes and assassmants
<br />.gainst the Property.
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<br />Notice of Construcdon. Tru.tor shall notify Lender .t le.st fifteen (15) days before any work is commenced, any services ara
<br />furnishad, or any matarlal. are supplied to the Property, if .ny mechanic's lien, materialmen's lien, or other lien could be assarted on
<br />.ccount of the work, services, or materials. Trustor will upon raquast of Lender furnish to Lender adv.nce .Ssur.nces satisf.ctory to
<br />Lender th.t Trustor can and will pay the cost of such improvament..
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<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
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<br />Melntenance of Ineurence. Tru.tor shall procure and m.int.in policies of fire insurance with standard extended coverage
<br />endorsements On . repl.cement basis for the full insurable value covering all Improvements on the Real Property in an smount
<br />sufficient to avoid application of any coln.urance clau.e, and with. st.ndard mortgagee clause in f.vor of Lender. Trustor shall also
<br />procure and maintain comprahensive ganeral liability Insurance In such cover.ge .mounts .. Lender may request with Trustee .nd
<br />Lender being n.med as .ddition.1 insureds in such liability insurance pollcle.. Additionally, Trustor shall maintain such other
<br />insur.nce, including but not limited to hazard, business interruption, and boiler Insurance, as Lender may reasonably require. Policies
<br />shall ba written In form, amounts, covarages snd basis reaaon.bly .cceptable to Lender and issued by a comp.ny or companiea
<br />reasonably acceptable to Lender. Tru.tor, upon request of Lender, will deliver to Lender from time to time the policies or certificates
<br />of insurance in form satisfactory to Lendar, Including stipulation. that coveragea will not be cancelled or diminished without .t le..t
<br />ten (10) days prior written notice to Lender. Each insurance policy also shall Include .n endorsement providing that coverage in f.vor
<br />of Lender will not be Impaired In any w,y by .ny .ct, omission or default of Trustor or any other person. Should the Real Property ba
<br />located in an area deslgnatad by the Diractor of the Feder.1 Emergency Management Agency as a special flood hazard araa, Trustor
<br />agrees to obtain and maintain Faderal Flood Insurance, If available, for the full unp.id principal b.l.nce of the loan .nd .ny prior liens
<br />on tha property .ecuring the loan, up to the maximum policy limits set under the National Flood Insurance Progr.m, or as otherwise
<br />required by Lender, and to maintain such insurance for the term of the loan.
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<br />Application of Proceeds. Trustor shall promptly notify Landar of .ny loss or d.m.ge to the Property, Lender m.y m.ke proof of loss
<br />if Trustor fails to do so within fifteen (151 days of the casualty. Whether or not Lander's security is imp.ired, Lender m.y, .t Lender's
<br />election, receive and retain the proceed a of any insurance and apply the procaeds to the raduction of the Indebtednesa, payment of
<br />any lian affecting the Property, or tha restoration, .nd rep.ir of the Property. If Lender elects to apply the proceeds to restoration and
<br />repair, Trustor .hall repair or replace tha dam.gad or destroyed Improvements in a mannar .atisfactory to Lendar. Lender shall, upon
<br />satiafactory proof of such expenditure, payor ralmbur.e Trustor from the proceeds for the re.son.ble cost of repair or rastoration if
<br />Trustor is not in default under this Deed of Trust. Any proceeds which h.ve not been disbursed within 1 BO d.ys .ftar their receipt
<br />and which Lander has not committed to the rep.ir or restor.tion of the Property shall be used first to pay any amount owing to Lendar
<br />under this Deed of Trust, then to pay accrued interest, .nd the remainder, if any, shall be applied to the principal balanca of tha
<br />Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds sh.1I be p.id to Trustor as
<br />Trustor's interests may appear.
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<br />Truator's Report on Inauranca. Upon requaet of Lender, howaver not mOre th.n Once. ye.r, Trustor shall furnish to Lander. report
<br />On esch existing policy. of insur.nce showing: (1) the nama of tha Insurer; (2) tha risks insured; (31 tha amount of tha policy: ~4)
<br />the property insured, the then current replacement value of such property, and the mannar of determining that value: and (5) tha
<br />expiration date of the policy. Trustor shall, upon request of Lander, h.ve .n independent .ppr.isar s.tisf.ctory to Lender determine
<br />the cash value replacement cost of the Property.
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<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's intarest in the Property or if
<br />Truator fails to comply with any provision of this Oeed of Trust Or .ny Related Documents, including but not limited to Truator's failure to
<br />disch.rge or pay when due any amounts Trustor is required to discharge or pay undar this Deed of Trust or .ny Related Documents, Lender
<br />on Trustor's behalf may (but shall not be obligated to) take any action that Lander deems .pproprlate, including but not limited to
<br />discharging or paying .11 taxea, liens, security interesta. encumbrancas and other claims, at any time laviad or placed on tha Property and
<br />paying all costs for insuring, maintaining .nd preserving the Property. All such expandlturas incurred or paid by Lender for such purposes
<br />will then bear interest at the rate charged under the Note from the data Incurred or p.id by Lender to the d.te of rep.yment by Trustor, All
<br />such expenses will become a part of the Indabtedness and, at Lender's option, will (A) be p.yabla On dam.nd; (B) be added to the
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