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<br />200902520
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<br />THIS IS A CONSTRUCTION SECURITY AGREEMENT WITHIN THE
<br />MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT.
<br />
<br />together with all interest which Trustor llOw has or may hereafter acqnire in and to said Real Estate and in and to: (a) all easements and rights of way appnrtenantlhereto and all ofthc
<br />cstatc, right, title, interest, claim and demand whatsoever of Trustor in thc Rcal Estate, either at law or in equity, now or hereafter acquired; (b) all structures, buildings and improvements
<br /> of
<br />every kind and descriptioll110W or at any time hereafter located Or placed On the Real Estate (the 'Ilmprovements"); (c) all machinery, appliance;:s apparatus; equipnlent and fixtures
<br /> now or
<br />hereafter located in, upon or under the Real Estate or the Improvements, or any part thereof, and nsed or nsable in connection with any prcsent or future operation thereof, and all additions
<br />thereto and replacements therefor; (d) all articles of personal property and any additions to, snbstimtions for, changes in or replacements of the whole or any part thereof, inclnding
<br /> without
<br />lirnitatioIlI all fundture and fumishingsl now or at any time hereafter affixed to, attached to, placed upon or used in any way in connection with the use, enjoyment, occupancy or operation
<br />of the Real Estate or the Improvements, or any portion thereof; and owned by the Trustor or in which Trustor now has or hereafter acquires an interest; (e) all of the rents, royaltics,
<br /> issues
<br />and profits of the Real Estate and the Improvements~ or arising from the use of enjoyment of all or ally portion lhereofor from any lease, licellse~ concession, occupancy agreement or
<br /> other
<br />agreement pertaining thereto (the "Reuts and Pn.Jl1ts"); a.nd all right, title and interest of Trustor in and to all leases, licenses and occupancy agreements of tlle Real Estate or
<br /> of the
<br />Improvemcnts now or hereafter entered into and all right, title and interest ofTmstor thereunder, including, without limitation, cash or secnrities deposited therenuder to secure perfonnancc
<br />by tenants, lessees or licensees as applicable, oftheir obligations thcreundcr; (I) all building materials and supplies now or hereafter placed on tile Real Estate or in tile Improvements;
<br /> (g) all
<br />proceeds of the convcrsion, voluntary or involuntary, or any of the foregoing into cash or liquidated claims, including, withoutlhnitatiotl1 proceeds of insurance and condemnation awards;
<br />(h) all humestead rights as now or hereafter provided by Nebraska Law; and (i) all othcr or greater rights and iuterests of every namre in the Real Estate and the Improvements and in
<br /> thc
<br />possession or use thercof and inco111c tllerefronl, whether now owned or subsequently acquired by Trustor, The property so conveyed hereunder is hereinafter referred to as "such
<br />propcrty" .
<br />
<br />FOR PURPOSE OF SECURING:
<br />
<br />A. Payment of the principal sum otOne Hundred Fifty Six Thousand Six Hundred Fifty and 29/1 00
<br />Dollars ($ 156.650.29 ) evidenced hy that certain Promissory Note dated of even date herewith (hercinafter rcfcrrcd to as "Promissory note")
<br />issued by Tmstor in said amount and payable to the order of Beneficiary, together with interest tllereon, late charges and prcpayment bonuses according to the tenns of the Promissory
<br /> Note
<br />and all renewals, extensions and lllodifications thereof.
<br />
<br />B. Performance, discharge of and compliancc with every obligation; covenant and agreement of Trustor incorporated by reference or contained herein or in any other security
<br />agreement or de cd of trust at any time given to secnre any indebtedness hereby secured, or any part thereof.
<br />
<br />C. TIle perfonnance, discharge of and compliance with every obligation created by a gnaranty agreement or continning guaranty or similar agreement in secnring the
<br />perfomlance of the Promissory Note referenced above herein.
<br />
<br />D. TIle perfonnance, discharge of and compliance with cvcry obligation, covenant and agreement contained in a loan agreement of the Tlllstor or the Maker of thc
<br />aforementioned Promissory Note or other individuals cxecuted at or reasonably lIear the LitIle of the execution of said Promissory Note,
<br />
<br />E. Paymeut of all fees and charges of Beneficiary, whether or not set forth herein.
<br />
<br />F. Payment of future advances necessary to protect such property.
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<br />G. Fnlure advances made to trustor or either of them, the total fnmre advances not to exceed the snm otDne Hundred Fiftv Six Thousand Six
<br />Hnnrlrprl Fiftv llnrl2Q/100 Oollars($ 156.650.29 l.
<br />
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS:
<br />
<br />1. Title: TIlat it is lawfnlly seizcd and possesscd of a good and indefcasible titlc and estate to such property in fee simple and will forever warrant and defend the title thereto
<br />against the claims and demands of all persons whosoever; that it will, at its expense, maintain and preserve tlle lien oftllis Deed ofTlllst as a tirst and paramount lien upon such property.
<br />
<br />2. Maintenance: To keep such property in gnod condition and repair; to complete or restore promptly and in good and workmanlike manner any bnilding which may be
<br />constructed, damaged 01' destroyed thereon and to pay, when due, all claims for labor perfonned and materials fumished thercfor and for any alterations thereof; to comply with the
<br />provisions of restrictions affecting such property; not to remove, demolish or materially alter any building, or the eharacter or use thereof at any time thereon; not to drill or extract,
<br /> not to
<br />permit tile drilling for or oil, gas or othcr hydrocarbon substances Or any mineral of any kind unless the written conseut of Beneficiary is first had and obtained; not to eommit or
<br /> pennit any
<br />waste thereof or any act upon snch property in violation of law; to do all other acts in a timely and proper manner which from the character or use of such property may be reasonably
<br />necessary to protect and preserve said security, tlle specifle ennmerations herein not exclnding tile general.
<br />
<br />3. Construction of Improvements: To complete in good and workmatdike manner any building or improvements 01' repair relating tllereto which may be begnn
<br />on snch property or contemplated by the loan secured hereby, to pay when dne all costs and liabilities inclll'red tllerefor, and not to pemlit any coustructionlien against such propcrty.
<br />Tlllstor also agrees, anything in this Deed ofTlllst to the contrary notwithstanding: (a) to promptly C(llllmenCe work and to complete the proposed Improvements promptly, (b) to complete
<br />same in accordance with plans and specifications as approved by Beneficiary, (c) to comply with all of the terms of any consmlctionloan agreement between Tlllstor and Beneficiary, (d)
<br /> to
<br />allow lleneficiary to inspect such propeny at all times dnring consmlction, and (e) to rcplace any work or materials unsatisfactory to Beneficiary, within fineen (15) days after written
<br /> notice
<br />from Beneficiary of such fact, which notice may be given to Tlllstor by registered or certified mail, sent to his last known address, or by personal service of the same.
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<br />4. Fire and Casualty Insurance: To keep such property inslll'ed against loss or damage by fire and other risk or risks which, in the opinion of Beneficiary should
<br />be insured against, under policies of insnrance with loss payable to Bencficiary in foml, amount and companies acceptable to Beneficiary. Said policies shall be delivered to and remain
<br /> in
<br />possession of Beneficiary as filrther security for the faithful performance of these obligations, which delivery shall constirnte an assignment by Trustor to Beneficiary to all rights
<br /> thereunder,
<br />including all return prenliums; to deliver to Beneficiary a policy or policies renewing or extending any expiring insurance Witll a receipt showing preminms paid at least thirty (30)
<br /> days
<br />before expiration. If Trustor fails to so deliver any renewal policies, Beneficiary may procure snch insnrance as it may elect and may make payment of premiums thereon, which paymelll
<br /> is
<br />repayable on demand. Neither Tlllstee nor Bcneficiary shall bc responsible for obtaining or maintaining such insurance. Beneficiary, fonn time to time, may fumish to any information
<br />concenling tile loan secured hereby. In no event and whetller or not default herennder has occurred shall Beneficiary, by tile fact or approving, accepting or obtaining such insurance,
<br /> incur
<br />any liability for the amount of snch insnrance, the foml or legal sufficiency of insurance contracts, solvency of insurers, or payment of losses by insurers, and Trustor hereby expressly
<br />aSSumcs full responsihility therefor and liability, if any, thereunder. In tile event of loss, Trustor shall give immediate written uotice to Bencficiary, and Bencficiary may, but is
<br /> not
<br />obligated to, make proof of loss if not made promptly by Tlllstor. In case of any loss tile amount collected nnder any policy of insurance on such property may, at the option of tile
<br />Beneficiary, be applied by Benetleiary upon any indebtedness and/or obligation secnred hereby and in such order and amonut as Deneficiary may detennine; or snch amount or any portion
<br />thereof may, at thc option of the Beneficiary, either by used in replacing or restoring tlle Improvements partially or totally destroyed to a condition satisfactory to said Bcncficiary,
<br /> or said
<br />amonnt, or any portion thereof, may be released to the Trustor. In any such evelllneither the Trustee nor the Beneficiary shall be obligated to see the propel' application thereof; nor
<br /> shall
<br />the amount so released or used be deemed a payment on any indebtedness secnred hereby. Snch application, nse, and/or release shall not curc (ll waive any default or notice of default
<br />hereunder or invalidat.e any act done pursuant to such notice. Any unexpircd insurance and. all retumable insurance premiums shall inure to the benefit of, and pass to, the purchaser
<br /> of the
<br />property covered thereby at any Trustee's sale held hereunder. If said property is sold plll'suant to the power of sale contained herein or pursuant to any decree of toreclosurc, all
<br /> right, title
<br />and interest of Tlllstor in and to the proceeds of fire and other insurance policies for damage prior to the sale, which proceeds are not received prior to the date of said sale, shall
<br /> belong to
<br />Beneficiary.
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<br />5. Taxes and Other Sums Due: To pay, satisfy and discharge, at least ten (10) days before delinqucncy, all gencral and special taxes and assessments affecting
<br />snch propeny, and in no event later than the date such amounts hecome due: (I) all encumbrances, charges and liens, with interest, on such property, or any part tllereof, which re, or
<br /> appear
<br />to Bencficiary to bc prior to or superior hereto, (2) all costs, fees and expenses of this trust, whether 01' not described herein, (3) fees or charges for any statement regarding the
<br /> obligation
<br />secured hereby in any amount demanded by Beneficiary, not to exceed the maximum amount allowed by law tllerefor at the timc when such request is made, (4) such other charges as the
<br />Benefieiary may deem reasonable for services rendered by Beneficiary and funlished at the request of Trustor 01' any successor in interest to Tlllstor, (5) ifsuch property inclndes a
<br /> leasehold
<br />estate, all payments and obligations required of the Tmstor, or his successor in interest, under the tenus of the instnuuent. or illstl11mellts creating such leasehold, Trustor hereby
<br /> agTecingnot
<br />to amend, change, or modify his leasehold i11Lerest or the temlS 011 which he has such leasehold interest, or to agree to do so, without the written consent of Beneficiary being first
<br /> obtained.
<br />(6) all payments and monetary obligation required of the owner of such property under any declaration of covenants, conditions and restrictions pcrtaining to such property or any
<br />modification tllereof. Shonld Tnmor fail to make any such payment, Beneficiary, without contesting the validity or amount, may elect to make 01' advance such payment, together with any
<br />costs, expense" fees or charges relating thereto, inclnding employing counsel and paying his reasonable fees. Tlllstor ab'fees to notify Bencficiary immediatcly upon rcceipt of Trustor
<br /> or
<br />notice of any increase in the assessed value of such property and agrees that Benefleiary, in the name of Trustor, may contcst by appropriate proceedings such increase in assessments.
<br />In the eVe"lt of the paosage of any law deducting fonn the value of real property for the purpose of taxation any lien tllereon, or changing in auy way the laws for the taxation of
<br />deeds of trust or debts secured by dceds of trust for state or local purposes, or tile manner of the collection of any such taxes, so as to affect tllis Deed of Trust, the holder of
<br /> this Deed of
<br />Trust and of the obligations which it ,ecures shall have the right to declare all sums secnred hereby dne as of a date to be specified by not less than 30 days' written notice to bc
<br /> given to
<br />Trustor by Bencticiary; providcd, however, that such election shall be ineffective if Ttustor is pennitted by law to pay the whole of such tax in addition to all otller payments required
<br />hereunder and if, prior to such specified date, does pay such tax and agrees to pay any such tax when hereafter levied or assessed against such property.
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<br />8123.CV (4103)
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<br />99022
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