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DEED OF TRUST 200905859
<br />Loan No: 807825 (Corttin~~ed) Page 2
<br />written consent. As a condition fo the removal of any Imprvvernents, Lender may require Trustnr to make arrarlgernents satisfactory
<br />to Lender to replace such Irnprnvements with Improvements of at least equal value.
<br />Lender's Right to Enter. Lender and L-ender's agents and representatives may enter upon the Heal Property at all reasonable times to
<br />attend to Lender's interests and to inspect the Real Property for purposes of Trustor's cornplianca with the terms and rrnuiitions of
<br />this Deed of Trust.
<br />Compliance with Gavernrnental Requirements. 'Trustnr 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. "Tnrstor rnay contest in good
<br />faith any such law, ordinance, nr regulation and withhold compliance during any proceeding, including appropriate appeals, so long as
<br />TYustor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are
<br />not jeopardized. Lender may require Trustnr to post adequate security or a surety bond, reasonably satisfactory to Lender, tv protect
<br />Lender's interest.
<br />^uty to protect. Trustnr agrees neither to abandon or leave unattended the Property. T'rustor shall do all other acts, in addition to
<br />those acts set forth above in this section, whtich from the character and use of the property are reasonably necessary to protect and
<br />l.~reserve the Property.
<br />^UE QN SALE -CONSENT 8Y LENDER. ).ender rnay, at L.ender's option, declare immediately due and payable all sums secured by this
<br />Deed of Trust upon the sale or transfer, willrout Lender's prior written consent, of all or any part of the Real Property, or any interest in the
<br />heal Property. A "sale nr transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal,
<br />beneficial nr equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract
<br />for deed, leasehold interest with a term greater than three 131 years, lease-option contract, nr by sale, assignment, or transfer of any
<br />beneficial interest in or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real
<br />Property. However, this option shall not be exercised by Lender if such exercise is prohibiter) by federal law or by Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Dead of Trust:
<br />Payment. l~rustor shall pay when due land in all events prior to delingrtency) all taxes, special taxes, assessments, charges (innluding
<br />water and sewer, tines and impositions levied against nr nn account of the Property, and shall pay when due all claims for work done
<br />on nr for services rendered or material furnished to the Property. Trustnr shall maintain the Property free of all liens having priority
<br />over or equal to the interest of Lender under this Deed of Trust, except for the lien of [axes and assessments not due, exceftt far the
<br />Existing Indebtedness referred to below, and except as otherwise provided in this f]aed of 1 rust.
<br />Right to Contest. Trustnr may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
<br />obligation to pay, so Inng as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,
<br />Trustnr shall within fifteen 1151 days after the lien arises or, if a lien is filed, within fifteen (15) days after Trustnr has notice of the
<br />filing, secure the discharge of the lien, or if requested by Lender, deposit with h_ender cash or a sufficient corporate surety bond or
<br />other security satisfactory to Lender in an amount sufficient to discharge thte lien plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of a foreclosure or sale under the lien. In any rnntest, Trustnr shall defend itself and Lender and shall
<br />satisfy any adverse judgment before enforrernent against the Property. Trustnr shall rtarne Lander as an additional obligee under any
<br />surety bond furnished in the contest proceedings.
<br />Evidence of Payment. "1 costar shall upon demand furnish to Lender satisfactory evidence of peyrnent of the taxes or assessments and
<br />shell authorize the appropriate governrttental official to deliver to Lender at any time a written statement of [he taxes and assessments
<br />__agaicrst_the!'rnperty------- . ----- --- --- - -
<br />Notice of Construction. Trustnr shall notify Lender at least fifteen (151 days before any work is nomrnenced, any services are
<br />furnished, or any materials are supplied to the Property, if any mechanic's lien, materialrnert's lien, or other lien could be asserted on
<br />account of the work, services, or materials. T'rustor will upon request of Lender furnish to Lender advance assurances satisfactory to
<br />tender that Trustnr can and will pay the cost of such irnprnvernents.
<br />PRL7PERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. '>-rusfor shall prnrure and maintain polinies of fire insurance with standard extended coverage
<br />endorsements on a replacement basis fur the full insurable value covering all Irnprnvements on the Real Property in an amount
<br />sufficient tv avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such
<br />other hazard and liability insurance as Lender may reasonably require- Policies shall be written in form, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued by a rnmpany nr companies reasonably acceptable to Lender'. Trustnr, upon request of
<br />L..ender, will deliver to t-ender from time to time the policies or certificates of insurance in form satisfactory to Lender, innluding
<br />stipulations that coverages will not be cancelled yr diminished without at least ten 1101 days lirior written notice to Lender. [mach
<br />insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any
<br />ar..t, omission or default of Trustnr or any other person. Should the Real Property be located in an area designated by the Director of
<br />the Federal Emergency Management Agency as a special flood hazard area, Trustnr agrees to obtain and maintain Federal Flood
<br />Insurance, if available, for the full unpaid principal balance of the loan and any prior liens on the property securing the Inan, up to the
<br />maximum policy limits set under the National Flood Insurance Program, nr as otherwise required by Lender, and to maintain such
<br />insurance for the term of the loan.
<br />Application of Proceeds. 'T'rustbr shall promptly r7otify Lender of any loss or damage to the Property. Lender may make proof of Ines
<br />if "T'rustor fails to do so within fifteen (16) days of the casualty. Whether or not Lender's security is impaired, Lender may, at Londer's
<br />election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of
<br />any lien affecting the Property, or the restoration and repair of the property. If Lender elents to apply the proceeds to restoration and
<br />repair, TYustor shall repair or replace the damaged or destroyed Irnprovernents in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse T'rustor from the proceeds for the reasonable cost of repair or restoration if
<br />Trustnr is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 1 SO days after their receipt
<br />and which Lender has not cnmrttitled to the repair or restoration of the Property shall he used first to pay any amount owing to Lander
<br />under thiis Peed of °I"rust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness. If )..ender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustnr as
<br />Trustor's interests may appear.
<br />Compliance whth Existing Indebtedness. During the period in which any Existing Indebtedness described below is in effect, rnmpliance
<br />with the insurance provisions contained in the instrument evidencing such Existing Indebtedness shall rnnstitute compliance with the
<br />insurance provisions under this Deed of Trust, to the extent compliance with the terms of this Deed of Trust would constitute a
<br />duplication of insurance requirement- If any proceeds frorrr the insurance become payable on loss, the provisions in this Deed of Trust
<br />for division of proceeds shall apply only to that portion of the proceeds not payable to the holder of the Existing Indebtedness.
<br />LENDER'S EXPENDITURES. If Trustnr fails (A- tv keep the Property free of all taxes, liens, security interests, encumbrances, and other
<br />clair'ns, IBI to provide any required insurance on the Property, ICI to make repairs to the Property or in ramply with arty obligation to
<br />maintain Existing Indebtedness in good standing as required below, than Lander rnay do so. If any action or prpreoding is commenced that
<br />would materially affoct Lender's interests in the Property, then Lender vn Trustor's behalf may, but is not required to, take any action that:
<br />L-ender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear
<br />interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Trustnr. All such
<br />expenses will become a part of the Indebtedness and, at Lender's option, will IAI be payable on demand; (B) be added to the balance of
<br />the Nnte and 6e apportioned among and be payable with any installment payments to become due during either 111 rite teen of any
<br />applicable insurance policy; or 12) the remaining term of the Nate; or (C) be treated as a balloon payment which will 6e due and payable
<br />at the Note's maturity. The Deed of -trust also will secure payment of these amounts. The rights provided for in this paragraph shall be in
<br />addition to any other rights or any remedies to which Lender may be entitled nrt account of any default. Any such action by Lender shall
<br />not be construed as staring the default so as to bar Lender frorrr any remedy that it otherwise would have had.
<br />WARRANTY; DEFENSE OF ThTLE. The following provisions relating to ownership of the Property are a part of this Dead of Trust:
<br />Title. Trustnr warrants that: (al Trustnr holds good and marketable title of renord to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in
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