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<br />200902871
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<br />J. Name Change. Grantor changes Grantor's name or assumes an additional name without notifying Lender
<br />before making such a change.
<br />
<br />K. Property Transfer. Grantor transfers all or a substantial part of Grantor's money or property. This
<br />condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in
<br />the DUE ON SALE section.
<br />
<br />L. Property Value. Lender determines in good faith that the value of the Property has declined or is
<br />impaired.
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<br />M. Erosion. Any loan proceeds are used for a purpose that will contribute to excessive erosion of highly
<br />erodible land or to the conversion of wetlands to produce or make possible the production of an agricultural
<br />commodity, as further explained by federal law.
<br />
<br />N. Insecurity., Lender determines in good faith that a material adverse change has occurred in Grantor's
<br />financial condition from the conditions set forth in Grantor's most recent financial statement before the date
<br />of this Security Instrument or that the prospect for payment or performance of the Secured Debts is
<br />impaired for any reason.
<br />
<br />14. REMEDIES. On or after default, Lender may use any and all remedies Lender has under state or federal law
<br />or in any document relating to the Secured Debts, including, without limitation, the power to sell the Property.
<br />Any amounts advanced on Grantor's behalf will be immediately due and may be added to the balance owing
<br />under the Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be
<br />available on Grantor's default.
<br />
<br />Subject to any right to cure, required time schedules or any other notice rights Grantor may have under federal
<br />and state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts
<br />immediately due and foreclose this Security Instrument in a manner provided by law upon the occurrence of a
<br />default or anytime thereafter.
<br />
<br />If there is a default, Trustee will, in addition to any other permitted remedy, at the request of the Lender,
<br />advertise and sell the Property as a whole or in separate parcels at public auction to the highest bidder for
<br />cash. Trustee will give notice of sale including the time, terms and place of sale and a description of the
<br />Property to be sold as required by the applicable law in effect at the time of the proposed sale.
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<br />To the extent not prohibited by law, Trustee will apply the proceeds of the Property's sale in the following
<br />order: to all fees, charges, costs and expenses of exercising the power of sale and the sale; to Lender for all
<br />advances made for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon;
<br />to the Secured Debts' principal and interest; and paying any surplus as required by law. Lender or its designee
<br />may purchase the Property.
<br />
<br />Upon any sale of the Property, Trustee will make and deliver a special or limited warranty deed that conveys
<br />the property sold to the purchaser or purchasers. Under this special or limited warranty deed, Trustee will
<br />covenant that Trustee has not caused or allowed a lien or an encumbrance to burden the Property and that
<br />Trustee will specially warrant and defend the Property's title of the purchaser or purchasers at the sale against
<br />all lawful claims and demand of all persons claiming by, through or under Trustee. The recitals in any deed of
<br />conveyance will be prima facie evidence of the facts set forth therein.
<br />
<br />All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at
<br />law or equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial
<br />payment on the Secured Debts after the balance is due or is accelerated or after foreclosure proceedings are
<br />filed will not constitute a waiver of Lender's right to require full and complete cure of any existing default. By
<br />not exercising any remedy, Lender does not waive Lender's right to later consider the event a default if it
<br />continues or happens again.
<br />
<br />15. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the extent permitted by law,
<br />Grantor agrees to pay all expenses of collection, enforcement or protection of Lender's rights and remedies
<br />under this Security Instrument or any other document relating to the Secured Debts. Grantor agrees to pay
<br />expenses for Lender to inspect and preserve the Property and for any recordation costs of releasing the
<br />Property from this Security Instrument. Expenses include, but are not limited to, attorneys' fees, court costs
<br />and other legal expenses. These expenses are due and payable immediately. If not paid immediately, these
<br />expenses will bear interest from the date of payment until paid in full at the highest interest rate in effect as
<br />provided for in the terms of the Secured Debts. In addition, to the extent permitted by the United States
<br />Bankruptcy Code, Grantor agrees to pay the reasonable attorneys' fees incurred by Lender to protect Lender's
<br />rights and interests in connection with any bankruptcy proceedings initiated by or against Grantor.
<br />
<br />16. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental
<br />Law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act
<br />(CERCLA, 42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations, ordinances, court orders,
<br />attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a
<br />hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste,
<br />pollutant or contaminant which has characteristics which render the substance dangerous or potentially
<br />dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any
<br />substances defined as "hazardous material," "toxic substance," "hazardous waste," "hazardous substance," or
<br />"regulated substance" under any Environmental Law.
<br />
<br />Grantor represents, warrants and agrees that:
<br />
<br />A. Except as previously disclosed and acknowledged in wntlng to Lender, no Hazardous Substance has
<br />been, is, or will be located, transported, manufactured, treated, refined, or handled by any person On, under
<br />or about the Property, except in the ordinary course of business and in strict compliance with all applicable
<br />Environmental Law.
<br />
<br />KENNETH A KOHLHOF .
<br />Nebraska Oeed Of Trust
<br />
<br />NE/4AMOSEMANOOOOOOOOOOO 111 045041409N
<br />
<br />0"96 B,"'~ ""~" 100,. ", Cloud. MN ~ ~
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