|
~~~~ ~~ TRUST 2 o i o 0 4 s 4 s ~~
<br />Loan No: 872058011 (Gantinued) ge 2
<br />been known to Trustor. The provisions of this section of the [)eed of Trust, including thra obligation to irxiemnify and defend, shall
<br />survive the payment of the Indebtedness and itte satisfaction and reconveyance of the lien of this Deed of 't'rust. anti shall not be
<br />affected by Lender's acquisition of any interest in the Property, whether by Toreclosure or otherwise.
<br />Nuisance, Wast®. Trustor shall not cause, condurt or permit any nuisance nor commit, parrnit, or suffer any stripping of or waste nn
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, 'Trustor will net remove, or grant to
<br />any other party the right tct remove, any timber, minerals (including nil and gas), coal, clay, scoria, sail, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvernenls from the heal Property without Lender's prior
<br />written consent. As a condition to the removal of any Irnprovernents, tender rnay require Trustor to make arrangements satisfactory
<br />to Lender to replace such Improvements with Improvements of at b=ast equal value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives rnay enter upon the Heal Prnpr rty ar all reasonable timers to
<br />attend to t_ender''s interests and to ins-.~ect the Real Property for purposes of Trusty's compliance with the terms and atnditiorts of
<br />this Deed or 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 autftorities applicable to t:he use nr occupancy of the Property. Trustor may contest in good
<br />faith any such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so luny as
<br />"frustor has notified Lender in writing prior tv doing so and so Inrtg as, in Lender's sole opinion, Lender's interests in the Property are
<br />not jeopardized. Lender rnay require Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender, to prntert
<br />Lender's interest.
<br />Duty to Protect. Trustor agrees neither to abandon or leave ur'trtltended the Property. T"rusLor stroll do all other acts, in addition to
<br />those acts set forth above in this ser,tion, which from the charactor and use of the Property are reasonably necessary to -troter,t and
<br />preserve the Property.
<br />DUE pN SALE -CONSENT BY LENDER. Lender rnay, at I_onder'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 rnnsent, of all or any earl of the Real Property, ar any interest in the
<br />Real Property. A "sale or transfer" means the conveyance of Final Property or any right, title or interest in the Beal F'rnperty; whether legal,
<br />beneficial or equitable; whether voluntary or involuntary; whether by outright solo, deed, installment sale contract, land contract, contract
<br />for dead, leasehold interest with a term greater than three (3) years, lease option contract, or by sale, assignment, or' transfer nF any
<br />beneficial interest in or to any land trust holding title to the Real Property, or by any other ntelhod of conveyance of art interest. in the Reel
<br />Property. hiowever, this option shall not he exercised by Lender if sur•.h exercise is prohibited by federal law or by Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens nn the Property are part of this Deed of Trust
<br />Payment. Trustor shall pay when due (and in all events prior to delirtquenry) all taxes, special taxes, a55f355nlP.ntS, charges (including
<br />water and sewer), 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. Tntstvr shall maintain the Property fret of all lions having priority
<br />over or equal to the interest: of Lender under this Deed of Trust, except inr the lien of taxes and aS5P.551nent5 not due, except for +he
<br />Existing Indebtedness referred to below, anr.i except as otherwise provided in this Deed of 'Trust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessmctnt, or claim in cortrter.finn with a good faith dispute over the
<br />obligation to pay, set long as Lender's interest in the Property is not jeopardized. If a lien arises nr is filect as a result. of nonpayment,
<br />Trustor shall within fifteen (15) days after the lien ar15P.,6 or, if a lien is filed, within fifteen (15) days after Trustor has notice of the
<br />filing, secure the discharge of the lien, ar if requested by LenrJer, deposit with Lander cash nr a sufficient corporate surety bond or
<br />ether security satisfactory to Lender in an amount sufficient to discharge the 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 contest, `1'rusr.or shall riefend itself and Lender and shall
<br />satisfy any adverse judgment before anforcernent against the Property. Trustor shall name tenrter as an additional oktligee under any
<br />surety bond furnished in the contest proceedings.
<br />Evidence of Payment. Trustor shall upon demand furnish to Leerier 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 writirtn statement of the faxes and assessments
<br />against the Property.
<br />Notice of Construction. Trustor shall notify Lender at Fast fifteen 1151 bays before any work is ronunenced, any services are
<br />furnished, or any materials are supplied to the Property, if any mechanir.,'s lien, materialmen's Bert, or other lien could be asserted nn
<br />account of the work, services, or materials. Trustor will upon request. of Lender furnish to Lender advanr..e assurances satisfactory to
<br />Lender khat Trustor can and will pay the cost of such improvements.
<br />PRl)PERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property am 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 insurablr_ 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 I_enier, togethctr with such
<br />other hazard and liability insurance as Lender may reasonably require. Policies shall be written in form, amounts, coverages anti basis
<br />reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of
<br />Lender, will deliver to Lender from time to time the polir•.iets nr certificates of inst.rrance in lotto satisfactory to Lenrle:r, including
<br />stipulations that coverages will not he cancelled or diminished without at least ten 1701 days prior written notice to Lender. Farb
<br />insurance policy also shall include an endorsement providing that coverage in favor of Lenrinr will not f.>e impaired in any way by any
<br />act, omission or default of T"roster or any other person. Should the Real Property bn located in an area designated by the Director of
<br />the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees to obtain and maintain Fctdaral Flood
<br />Insurance, if available, for the maximum amount of Trustee's credit liner and the full unpaid principal balance of any prior liens on the
<br />property securing the Ivan, up to the maximum policy limits set under tare National Flonci Insurance Program, or as otherwise required
<br />by Lender, and to maintain such insurance for the term of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Pru-.~erty. I_enrler rnay make proof of loss
<br />if Trustor fails to do sa within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, Lender rnay, 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 eleris to apply the proceeds to restoration and
<br />repair, Trustor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to l-enter. Lander shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasttnahle cost of repair or restoration if
<br />Trustor is not in default under this Deed of Trust. Any proceeds whir..h have not ltc:en disbursed within 18p days after their rer:eipt
<br />and which Lender has not committed to the repair or restoration of the Property shall t>e used first t:o 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 ptrincipal balance of the
<br />Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proreads shall he paid to Trustor as
<br />Trustee's interests rnay appear.
<br />Compliance with Existing Indebtedness. During the period in which any Existing Indebtedness described below is in effect, compliance
<br />with the insurance provisions contained in the instrument evidertring such Existing Indebtedness shall constitute compliance with the
<br />insurance provisions under this Deed of Trust, to the extent romplianc:e with the terms of this Deed of Trust would constitute a
<br />duplication of insurance requirement. If any proceeds from the insurance become payable on loss, the Provisions in this Deed of Trust
<br />for division of proceeds shall apply only to that partiort of the proceeds not payable to the holder of the Existing Indebtedness.
<br />LENDER'S EXPENDITURES. It Trustor fails (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other
<br />claims, (B) to provide any required insurance on the Property, IC) to make repairs to the Property or to comply with arty obligation to
<br />maintain Existing Indebtedness in good standing as required below, then Lender may do so. If any action or proceeding is commenced that
<br />would materially affect Lender's interests in the Property, then Lender on Trustee's behalf may, but is not required to, take any action that
<br />Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then teeter
<br />tnterest ~t the rate charged under the Credit Agreement from the date incurred or paid by Lender to the date of repayment by Truster. All
<br />such expenses will become a part of the Indebtedness and, at Lender's option, will (A) 6e payable on demand; (B) he added to the
<br />
|