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DEED OF TRUST 2 0 9 0 4 6
<br />Loan No: 1Q1221402 (COntinued~ Page 2
<br />DATE HEREWITW. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS
<br />REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. TWIS DEED OF TRUST IS GIVEN AND
<br />ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Dsed of Trust, Truster shall pay to Lender all amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9-334 and 2A-309 of the
<br />Uniform Commercial Cade, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (11 remain in possession and control of the Property;
<br />12- use, operate or manage the Prpperty; and (3- collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: 11- During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about pr from the Property; (21 Trustor has no knowledge of, pr reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, la- any breach or violation of any
<br />Environmental Laws, Ib1 any use, generation, manufacture, storage, treatment, disposal, release ar threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Prpperty, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating tp such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, Ia1 neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and Ib- any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance pf the Property
<br />with this section of the peed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall net be
<br />construed to create any responsibility ar liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property far Hazardous Substances. Trustor
<br />hereby 111 releases and waives any future claims against Lender for indemnity or contribution in the event Truster becomes liable for
<br />cleanup or other costs under any such laws; and 121 agrees to indemnify, defend, and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly pr 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
<br />threatened release occurring prior to Trustor's ownership pr interest in the Property, whether or not the same was or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed pf Trust and shall not be
<br />affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct ar 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 pr rock prpducts
<br />without Lender's prior written consent.
<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 />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 far purposes of Trustpr's compliance with the terms and conditions of
<br />this Deed of Trust.
<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 sp 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 />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 />Construe#ion Loan. If some or all of the proceeds of the loan creating the Indebtedness era to be used to construct or complete
<br />construction of any Improvements on the Property, the Improvements shall be completed no later than the maturity date of the Note
<br />for such earlier date as Lender may reasonably establish) and Trustor shall pay in full all costs and expenses in connection with the
<br />work. Lender will disburse loan proceeds under such terms and conditions as Lender may deem reasonably necessary to insure that
<br />the interest created by this Desd of Trust shall have priority over all possible liens, including those of material suppliers and workmen.
<br />Lander may require, among other things, that disbursement requests be supported by receiptsd bills, expense affidavits, waivers of
<br />liens, construction progress reports, and such other documentation as Lender may reasonably request.
<br />TAXES AND LIENS. The fallowing provisicns relating to the taxes and liens on the Property are part of this Deed of Trust
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