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200500902 TRUSTOR AND BENEFICIARY AGREE AS FOLLOWS: 1. Trustor shall pay when due, the principal and interest as provided in said note. 2. All payments received by Beneficiary shall be first applied to advances, which may have been made by Beneficiary and then to interest due and last to principle due. 3. Trustor shall pay all general real estate taxes and special assessments against the property before the same become delinquent. 4. If Beneficiary determines that any part of the property is subject to a lien, other than to Pitcher and Pitcher Properties, which is or may attain priority over this security instrument, Beneficiary may give Trustor a notice identifying the lien and Trustor shall satisfy the lien within ten (10) days. 5. Buyer shall keep the improvements on said premises insured against loss by fire and hazards included within the term "extended coverage" for their insurable value and policies for the same shall include a standard mortgage clause showing Beneficiary herein. In event of loss, Beneficiary may make proof of loss if not promptly made by Trustor. Insurance proceeds shall be applied to restoration or repair of the property damaged, unless both parties otherwise agree, except if proceeds shall be paid on the debt herein, whether or not then due. Unless Beneficiary and Trustor otherwise agree in writing, any payments or proceeds from insurance shall not extend or postpone the due date of the monthly payments provided in said note, or change the amount of the payments. 6. If Trustor fails to perform the covenants and agreements herein contained, Beneficiary may do and pay for whatever is necessary to protect the value of the property and Beneficiary's rights in the property, including the paying of any sum secured by a lien which has priority over this security instrument, appearing in court, paying reasonable attorney fees and entering the property to make repairs. Any amount disbursed by Beneficiary under this paragraph shall become an additional debt of Trustor secured by this security instrument, to bear interest from the date of disbursement and said amount, together with the then unpaid principal amount, shall bear interest at the highest lawful rate until refunded by Trustor. 7. The proceeds of any condemnation award are hereby assigned and shall be paid to Beneficiary and shall be applied to the sums secured by this security instrument, whether or not then due, with any excess paid to Trustor. 8. Any forbearance by Beneficiary in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 9. Any notice to Trustor provided for in this security instrument shall be given by delivering it or may mailing it by first class mail unless Nebraska Law requires use of another method, at the Trustor's last known address. 10. This security instrument and the note, which it secures, shall be governed by Nebraska law. 11. Beneficiary shall give notice to Trustor following Trustor's breach of any covenant or agreement in this security agreement and the note, which it secures. The notice shall specify (a) the default, (b) the action required to cure the default, (c) a date not less than thirty (30) days from the date of the notice is given to Trustor by which the default must be cured, and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sum secured by this security agreement and resale of the property. The notice shall further inform Trustor of the right to reinstate, after acceleration, and the right to bring a court action to assert the nonexistence of a default or any other defense of Trustor to acceleration and sale. If default is not cured, on or before the date specified in the notice, Beneficiary, at its option, may require immediate payment in full of all sums secured by this Security Agreement without further demand and may invoke the power of sale and any other remedies permitted by Nebraska law. Beneficiary shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph, including but not limited to reasonable attorney fees and costs of title evidence. If all or any part of the property or any interest of Trustor therein is sold or transferred without the express or written consent of Beneficiary, Beneficiary may, at their sole option, declare all sums 2