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-2- 81- +)(i230~
<br />as a lien upon the Trust Property sub,~ect only to encumbrances
<br />existing as of the date hereof, will cause this Trust Deed, and each
<br />amendment or supplement thereto, to be filed and recorded as a
<br />mortgage of the Trust Property in sueh manner and in such place,
<br />and will take such other action as in the opinion of Trustee may
<br />be required by any present or future law in order to perfect,-
<br />maintain and protect the lien of this Trust Deed, as the-same may
<br />be from time to time amended or supplemented.
<br />2. Pa ent of Princi al and Interest. Trustor shall punctually
<br />pay Che principal o and interest on, said promissory note in-
<br />eluding any advances thereto as provided herein on the dates
<br />and at the place and in the: manner provided therein and will punc-
<br />tually perform all agreements, conditions, and provisions of any
<br />other security instrument given in connection with this transaction.
<br />3. Preservation and *Saintenance of Property. Trustor will not
<br />commit any waste upon the Property and will, at alt times, main-
<br />tain the same in goad order and condition and will make, from
<br />tine to time, all repairs, renewals, replacements, additions and
<br />improvements which are reasonably required to prevent waste,
<br />impairment, or deterioration of said property. No building or
<br />improvement now or hereafter erected upon the Property shall be
<br />altered, removed or deisolished without the prior written consent
<br />of Beneficiary.
<br />~+. Dame e to Prooerty. In case of any damage to, or destruction
<br />of, t e uzt no mss, improvement, ~r personal property constitutin^
<br />part of the Trust Property, whether such less is cave red by insur-
<br />anee or othe r,~fse, Trustor, at its sole post and expense, will
<br />promptly restore, repair, replace and rebuild the same as nearly
<br />as practicabic to its condition i;m~ediately prior to such damage
<br />ar destruction or with such changes ans3 alterations as Truster nay
<br />deem appropriaee, provided such changes and alterations da not
<br />materially lessen the value and utility of such buildings, improve-
<br />;nents and personalty from that existings irrnediately prior to such
<br />damage or destruction. Trustor shall ue entitled co reimbursement
<br />from the Trustee to the extant of the net insurance proceeds re-
<br />ceived by Trustee, brat only to the extent of the actual sum ex-
<br />pended under this proE•tsion.
<br />5. for orate Trustor. If Trustor is a corporation, it wi13 ao
<br />all t ings necessary to preserve its corporate existence, righcs,
<br />and privileges under the laws of the state of its incorporation.
<br />6, lnsurance. Trustor, at it.s expense, wi31 maintain with insurers
<br />approv~neficiary, insurance with respect to the improvements
<br />and personal property, constituting the Property against loss by
<br />fire, lightening, tornado, and other perils covered by standard
<br />extended coverage endorsement, in an amount equal to at least one
<br />hundred percent of the full replacement value thereof; and insur-
<br />anee against such other hazards and in such amount as is customar-
<br />ily carried by ovcsers and operators of simitar properties and as
<br />Beneficiary may require for its protection. Trustor will Damply
<br />with sueh other requirements as Beneficiary nay from time to tine
<br />~ request for the protection by insurance of the interest of the re-
<br />spective parties, F~11 insurance policies maintained pursuant to
<br />this Trust Deed shall name Trustor and Beneficiary as insureds, as
<br />their respective interests may appear, and provide that .there shall
<br />be no cancellstion or modification without tifteen days prior writ-
<br />tesn notification to Trustee anti Beneficiary. In the went any
<br />policy hereunder is not renewed on or before fifteen days prior to
<br />its expiration data, Trustee or Beneficiary may procure such incur-
<br />axe-and the cost thereof shall be added to the ~.oan secur~:d by
<br />this- Trust heed a:xd shall b$ar interest at the greater ofi the in-
<br />K38lc'~st x'~tte ~-p«cified therein or the highest interest rate author-
<br />- ism by ~ lags of the State of tdabraska. Trustor shall deliver
<br />
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