|
<br />Loan No: 89134
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />~ L01 DDCJ1jtJ
<br />
<br />Page 2
<br />
<br />At its sole cost and expense, Trustor shall comply with and shall cause ell occupants of the Property to comply with all Environmental
<br />laws with respect to the disposal of industrial refuse or waste, and/or the discharge, processing, manufacture, generation, treatment,
<br />removal, transportation, storage and handling of Hazardous Substances, and pay Immediately when due the cost of removal of any
<br />such wastes or substances from, and keep the Property free of any lien imposed pursuant to such laws, rules, regulations and orders.
<br />
<br />Trustor shall not install or permit to be installed in or on the Property, friable asbestos or any substance containing asbestos and
<br />deemed hazardous by federal, state or local laws, rules, regulations or orders respecting such material. Trustor shall further not install
<br />or permit the installation of any machinery, equipment or fixtures containing polychlorinated biphemyls (PCBs) on or in the Property.
<br />With respect to any such material or materials currently present in or on the Property, Trustor shall promptly comply with all applicable
<br />Environmental laws regarding the safe removal thereof, at Trustor's expense.
<br />
<br />Trustor shall indemnify and defend lender and hold lender harmless from and against all loss, cost, damage and expense (including,
<br />without limitation, attorneys' fees and costs incurred in the investigation, defense and settlement of claims) that Lender may incur as
<br />a result of or in connection with the assertion against Lender of any claim relating to the presence or removal of any Hazardous
<br />Substance, or compliance with any Environmental Law. No notice from any governmental body has ever been served upon Trustor or,
<br />to Trustor's knowledge after due inquiry, upon any prior owner of the Property, claiming a violation of or under any Environmental law
<br />or concerning the environmental state, condition or quality of the Property, or the use thereof, or requiring or calling attention to the
<br />need for any work, repairs, construction, removal, cleanup, alterations, demolition, renovation or installation on, or in connection with,
<br />the Property in order to comply with any Environmental Law; and upon receipt of any such notice, Trustor shall take any and all steps,
<br />and shall perform any and all actions necessary or appropriate to comply with the same, at Trustor's expense. In the event Trustor
<br />fails to do so, lender may declare this Deed of Trust to be in default.
<br />
<br />Nuisance. Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without lender's prior
<br />written consent. As a condition to the removal of any Improvements, lender may require Trustor to make arrangements satisfactory
<br />to lender to 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 Real Property for purposes of Trustor's compliance with the terms and conditions of
<br />this Deed of Trust.
<br />
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the
<br />Americans With Disabilities Act. Trustor may contest in good faith any such law, ordinance, or regulation and withhold compliance
<br />during any proceeding, including appropriate appeals, so long as Trustor has notified Lender in writing prior to doing so and so long as,
<br />in lender's sole opinion, lender's interests in the Property are not jeopardized. Lender may require Trustor to post adequate security
<br />or a surety bond, reasonably 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
<br />those acts 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.
<br />
<br />DUE ON SALE - CONSENT BY lENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this
<br />Deed 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
<br />Real Property. A "sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal.
<br />beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract
<br />for deed, leasehold interest with a term greater than three (3) years, lease-option contract. or by sale, assignment, or transfer of any
<br />beneficial interest in or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real
<br />Property. If any Trustor is a corporation, partnership or limited liability company, transfer also includes any change in ownership of more
<br />than twenty-five percent (25%) of the voting stock, partnership interests or limited liability company interests, as the case may be, of such
<br />Trustor. However, this option shall not be 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
<br />water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done
<br />on or for services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority
<br />over or equal to the interest of lender under this Deed of Trust, except for the lien of taxes and assessments not due, except for the
<br />Existing Indebtedness referred to below, and except as otherwise provided in this 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
<br />obligation 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,
<br />Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Trustor has notice of the
<br />filing, secure the discharge of the lien, or if requested by lender, deposit with Lender cash or a sufficient corporate surety bond or
<br />other security satisfactory to lender in an amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall
<br />satisfy any adverse judgment before enforcement against the Property. Trustor shall name lender as an additional obligee under any
<br />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
<br />Shall authorize the appropriate governmental official to deliver to lender at any time a written statement of the taxes and assessments
<br />against the Property.
<br />
<br />Notice of Construction. Trustor shall notify lender at least fifteen (15) days before any work is commenced, any services are
<br />furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on
<br />account of the work, services, or materials. Trustor will upon request of Lender furnish to lender advance assurances satisfactory to
<br />lender that Trustor can and 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
<br />endorsements on a fair value basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient
<br />to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Trustor shall also procure
<br />and maintain comprehensive general liability insurance in such coverage amounts as lender may request with Trustee and lender
<br />being named as additional insureds in such liability insurance policies. Additionally, Trustor shall maintain such other insurance,
<br />including but not limited to hazard, business interruption, and boiler insurance, es lender may reasonably require. Policies shall be
<br />written in form, amounts, coverages and basis reasonably acceptable to lender and issued by a company or companies reasonably
<br />acceptable to Lender. All policies shall provide that the policies shall not be invalidated by any waiver of the right of subrogation by
<br />any insured and shall provide that the carrier shall have no right to be subrogated to lender. Trustor, upon request of lender, will
<br />deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to lender, including stipulations that
<br />coverages will not be cancelled or diminished without at least thirty (30) days prior written notice to lender. Each insurance policy
<br />also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act. omission or
<br />default of Trustor or any other person. Should the Real Property be located in an area designated by the Director of the Federal
<br />Emergency Management Agency as a special flood hazard area, Trustor agrees to obtain and maintain Federal Flood Insurance, if
<br />available, within 45 days after notice is given by Lender that the Property is located in a special flood hazard area, for the full unpaid
<br />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 proof of loss
<br />
|