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2~i~00a~D~~
<br />DEED OF TRUST
<br />(Continued)
<br />Page 2
<br />any other party the right to remove, any timber, minerals (including oil and gas-, coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Trustnr 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 Trustnr 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 for purposes of Trustor'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. Trustnr may contest in good faith any such law, ordinance, or regulation and withhold compliance
<br />during any proceeding, including appropriate appeals, so long as Trustnr has notified Lender in writing prior to doing so and so Inng 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 />nr 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 />Cons#ruction Loan. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construct or complete
<br />construction of any Improvements an 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 Trustnr 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 Deed of Trust shall have priority over all possible liens, including those of material suppliers and workmen.
<br />Lender may require, among other things, that disbursement requests be supported by receipted bills, expense affidavits, waivers of
<br />liens, construction progress reports, and such other documentation as Lender may reasonably request.
<br />DUE ON SALE -CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this
<br />Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real property, or any interest in the
<br />Real Property. A "sale or transfer" means the conveyance of Real Property yr any right, title or interest in the Real Property; whether legal,
<br />beneficial or equitable; whether voluntary or involuntary; whether by outright sale, dead, installment sale contract, land contract, contract
<br />for deed, leasehold interest with a term greater than three 131 years, lease-option contract, or 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 prohibited 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 Deed of Trust
<br />Payment. Trustor shall pay when due land in all events prior to delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewerl, fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done
<br />on or for services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority
<br />over nr equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as
<br />otherwise provided in this Deed of Trust.
<br />Right to Contes#. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
<br />obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,
<br />Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen 1151 days after Trustnr has notice of the
<br />filing, secure the discharge of the lien, or if requested by Lender, deposit with Lander cash nr a sufficient corporate surety bond or
<br />-- othSr~ecrlriTy~a~s~ctiiry Fo-Le-Self-ef in an amount sufl•icierit to discharge the lien plus any costs and attorneys' tees, or other charges
<br />that could accrue as a result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall
<br />satisfy any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee under any
<br />surety bond furnished in the contest proceedings.
<br />Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and
<br />shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments
<br />against the Property.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen 1151 days before any work is commenced, any services are
<br />furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could 6e asserted on
<br />account of the work, services, or materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to
<br />Lender that Trustor can and will pay the cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage
<br />endorsements on a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount
<br />sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Trustor shall also
<br />procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and
<br />Lender being named as additional insureds in such liability insurance policies. Additionally, Trustnr shall maintain such other
<br />insurance, including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies
<br />shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies
<br />reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies nr certificates
<br />of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least
<br />ten 1101 days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor
<br />of Lender will not be impaired in any way by any act, omission or default of Trustnr or any other person. Should the Real Property be
<br />located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Trustnr
<br />agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of the loan and any prior liens
<br />on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, ar as otherwise
<br />required by Lender, and to maintain such insurance for the term of the Inan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss
<br />if Trustnr fails to do so within fifteen 1151 days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender'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 elects to apply the proceeds to restoration and
<br />repair, Trustnr shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay ar reimburse Trustor from the proceeds for the reasonable cost of repair or restoration if
<br />Trustor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt
<br />and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender
<br />under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness. If Lander 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 />Trustor's Report on Insurance. Upon request of Lender, however not more than once a year, Trustnr shall furnish to Lender a report
<br />on each existing policy of insurance showing: 111 the name of the insurer; 121 the risks insured; 131 the amount of the policy; 141
<br />the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the
<br />expiration date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine
<br />the cash value replacement cost of the Property.
<br />LENDER'S EXPENpITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if
<br />Trustor fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Trustor's failure to
<br />discharge or pay when due any amounts Trustor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender
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