|
200904298
<br />so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized.
<br />Lender may require Grantor to post adequate security or a surety bond, reasonably
<br />satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Grantor agrees neither to abandon nor leave unattended the Property.
<br />Grantor shall da all other acts, in addition to those acts set forth above in this section, which
<br />from the character and use of the Property are reasonably necessary to protect and preserve
<br />the Property.
<br />DUE ON SALE -CONSENT BY LENDER. Lender may, at Lender's option, declare immediately
<br />due and payable all sums secured by this Deed of Trust upon the sale or transfer, without Lender's
<br />prior written consent, at all or any part of the Property, or any interest in the Property. A "sale or
<br />transfer" means the conveyance of Property or any right, title or interest in the Property; whether
<br />legal, beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed,
<br />installment sale contract, land contract, contract for deed, leasehold interest with a term greater than
<br />three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in
<br />or to any land trust holding title to the Property, or by any other method of conveyance of an interest
<br />in the Property. However, this option shall not be exercised by Lender if such exercise is prohibited
<br />by federal law or by Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are
<br />part of this Deed of Trust:
<br />Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes,
<br />special taxes, assessments, charges (including water and sewer), fines and impositions levied
<br />against or on account of the Property, and shall pay when due all claims for work done on or
<br />for services rendered or material furnished to the Property. Grantor shall maintain the
<br />Property free of all liens having priority over or equal to the interest of Lender under this
<br />Deed of Trust except for the lien of taxes and assessments not due and except as otherwise
<br />provided in this Deed of Trust.
<br />Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in
<br />connection with a good faith dispute over the obligation to pay, so long as Lender's interest
<br />in the Property is not jeopardized, If a lien arises or is filed as a result of nonpayment,
<br />Grantor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen
<br />(15) days after Grantor has notice of the filing. secure the discharge of the lien, or if
<br />requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other
<br />security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and
<br />Lender's reasonable attorneys fees, or other charges that could accrue as a result of a
<br />foreclosure or sale under the lien. In any contest, Grantor shall defend itself and Lender and
<br />shall satisfy any adverse judgment before enforcement against the Property. Grantor shall
<br />name Lender as an additional obligee under any surety bond furnished in the contest
<br />proceedings.
<br />Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of
<br />payment of the taxes or assessments and shall authorize the appropriate governmental official
<br />to deliver to Lender at any time a written statement of the taxes and assessments against the
<br />Property.
<br />Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any
<br />work is commenced, any services are furnished, or any materials are supplied to the Properly,
<br />if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the
<br />work, services, or materials. Grantor will upon request of Lender furnish to Lender advance
<br />assurances satisfactory to Lender that Grantor can and will pay the cost of such
<br />improvements.
<br />PROPERTY DAMAGE INSURANCE. The provisions of Section $ of the Loan Agreement,
<br />emit a Incur,
<br />"__ _ anceiCasualty And,Condemnation", are incorporated by reference as if fully set
<br />forth herein and are a part of this Deed of Trust.
<br />4
<br />
|