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DEED O~ TRUST 2 010 o i s s~ i
<br />Loan No: 101228974 (Continued) Page 2
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<br />TRUSTOR'S OBLIGATIONS UNDER T
<br />HAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWE
<br />EN TRUST.~R.AND•~LENDER OF EVEN ..
<br />RE ERRED ~I THER"EIN, SFIAI:I: ALSO BE AN EVENT" OF DEFAULT UNDER TH S DEED 0~ TRUSO~TWIS p~E HE RELATED bpCUMENTS
<br />D'OETRUST'IS GIVEN AND
<br />ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender aq amounts secured by
<br />this Deed of Trust es they become due, and shall strictly and in a timely manner perform all of 7rustor'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 Code, 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 />(2- use, operate or manage the Property; 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 nv use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any 'person nn, under, about or from the Property; 12) Trustor has no knowledge pf; or reason to believe
<br />that there has been; except as previously disclosed to and acknowledged by Lender in writing, lal any breach or violation of any
<br />Environmental Laws, Ib) any use, .generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />' Hazardous Substance oh, under, about of from the Property' by any prior owners or occupants of the Property, dr Ic1 any actual br
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged. by Lender in writing, .la) ,neither, Truster oar ;any tenant, :contractor, agent or other authorized user of the Property. .. ..,
<br />shall use, generate, manufacture, store, treat, disease of or release any Hazardous Substance on, under; about or from the Property;
<br />and (b) any such activity shall be .conducted in ,compliance with all _. applicable federal, state, and local laws, regulations and
<br />ordinances,. including without limitation all En'virohmental Laws. Trustor authorizes Lender and its agents to enter upon the Property .. ''
<br />to make such inspections and tests, at Trustor's e p y
<br />with this section of the Deed of. Trust:' ~n rns e' tions or tests made b Lenderappropriate to determihe compliance of the Property
<br />y ' p y 'shall be far Lender's purposes only.and shall not.b'e
<br />"` construed to create any responsibility' or 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 .for Hazardous Substances. Trustor ..
<br />hereby 11- releases and waives any future claims against fender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (~) agrees to 'irdemnify, defend, and hold harmless Lender against any and all
<br />claims, losses; liabilities, damages, penalties; and expenses vvhich Lender may directly or 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 or interest in the Property, whether or not the same was or should have
<br />been known to Trustor. Tha 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 of 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 or 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 or rock products
<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 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 witheut 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 so 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 />Construction Laan. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construct yr 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 casts 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.
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