|
DEED OF TRUST 2 ~ i O ~ 2~ 3 6
<br />Laan Na: 1p122$932 (Continued) page 2
<br />entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to Lender all
<br />Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective
<br />obligations under the Note, this Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. torrower and Trustor agree that Borrower's and Trustor's possession and use of
<br />the Property shall be governed by the following previsions;
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may 111 remain in possession and control of the Property;
<br />121 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 Envirpnmantnl Laws. Trustor represents and warrants to Lender that: 11 j During the period of Trustar's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Wazardous Substance by any person on, under, about or from the Property; l21 Trustor has no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, la- any breach pr violation of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposai, release or threatened r_elpase of any
<br />Flazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property; or Ic1 soy actual or
<br />threatened litigation or claims of any kind by any parson relating to such matters; and 131 Except as previously disclosed to and
<br />acknowledged by lender in writing, la1 neither Truster npr any tenant, cpntractar, agent pr other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose 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 Environmental Laws. Trustor authorizes lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<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 111 releases and waives any future claims against lender for indemnity or nantribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and 121 agrees to indemnify, defend, and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which 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 nr should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation tp 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 anquisition of any interest in the Prpparty, whether by foreclosure pr otherwise.
<br />Nuisance, Waste. Trustor shall opt pause, cpnduct 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 goal, coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Remavnl of Improvements. Truster shall not demolish pr 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 tp Lender's interests and to inspect the Real Prpparty fpr purposes of Trustor's compliance with the terms and conditions of
<br />this Deed of Trust.
<br />-- ---Comp~nce-wlth Governmental Requirements. Trusfo'r shall promptly coiriply wiffi 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. Trustor may contest in gopd faith any such law, ordinance, ar regulatipn and withhold compliance
<br />during any proceeding, including appropriate appeals, so long as Trustor has notified Lender in writing prior to doing so and sa tong 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 Prptact. 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 />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 or any right, title or interest in the Real Property; whether legal,
<br />beneficial pr equitable; whether vpluntary or involuntary; whether by outright sale, deed, installment sale contract, land nontract, nontract
<br />for deed, leasehold interest with a term greater than three (3) years, lease-option contract, or by sale, assignment, pr 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 />Prpparty. 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 sewer, fines and impositions levied against pr an account pf the Prpparty, 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 />
|