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<br />DEED OF TRUST
<br />(Continued)
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<br />200807065
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<br />Page 2
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<br />Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable
<br />federal, state"and local laws, regulations and ordinances, including without limitation all Environmental Laws, Trustor authorizes Lender and
<br />'its agents to enter upon the Property to make such inspections, and tests, atTrustor"s expense,' as Lender may deem ClPpropriate io
<br />determinepompliance of the Property withthissecti6ri 01 the Oeed of Trust. , An'y inspections or tests made by Lender shall be for Lender's
<br />purposes. only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or to any other person, The
<br />representations and warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous
<br />Substances, Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any
<br />and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or Indirectly sustain or suffer resulting from a
<br />breach 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 and defend, shall survive the payment of the
<br />Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any
<br />interest in the Property, whether by foreclosure or otherwise.
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<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 (Including 011 and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior
<br />written consent. .
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<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,
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<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 Real Property for purposes of Trustor's compliance with the terms and conditions of this Deed
<br />of Trust.
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<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, Trustor may contest in good faith any such law,
<br />ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Trustor has notified
<br />Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests, in the Property are not jeopardized. Lender
<br />may require Trustor to post adequl;lte security or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest.
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<br />Duty to Protect. Trustor agrees neither to abandon or leave unattended the Property, Trustor shall do all otheracts,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,
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<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,
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<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
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<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 againstor on aCQount 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, except for the Existing Indebtedness
<br />referred to below, and except as otherwise provided in this Deed of Trust.
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<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 other charges that could accrue as a result of a foreclosure 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,
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<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 statementof the taxes and assessments against the
<br />Property ,
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<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,
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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 />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
<br />a replacement 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, together with such other hazard and liability insurance as
<br />Lender may reasonably require, Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued
<br />by a company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the
<br />policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished
<br />without at least ten (10) days prior written notice to Lender. Each Insurance policy also shall include an endorsement providing that
<br />coverage In favor of Lender will not be impaired in any way by any act, omission or default of Trustor or any other person, Should the Real
<br />Property be located in an area designated by the' Director of the Federal Emergency Management Agency as a special flood hazard area,
<br />Trustor agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that the Property is
<br />located in a special flood hazard area, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan,
<br />up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such
<br />insurance for the term of the loan,
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<br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property, Lender may make proof of loss if
<br />Trustor fails to do so within fifteen (15) days of the casualty, Whether or not Lender's security is impaired, Lender may, at Lender's election,
<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 proofof 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 payrnent
<br />in full of the lndebtedness, such proceeds shall be paid to Trustor as Trustor's interests may appear, '
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<br />TAX AND INSURANCE RESERVES. Subject to any limitations set by applicable law, Lender may require Trustor to maintain with Lender
<br />reserves for payment of annual taxes, assessments, and insurance premiums, which reserves shall be created by advance payment or monthly
<br />payments of a sum estimated by Lender to be sufficient to produce, amounts at least equal to the taxes, assessments, and insurance premiums to
<br />be paid, The reserve funds shall be held by Lender as a general deposit from Trustor, which Lender may satisfy by payment of the taxes,
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