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DEAD OF TRUST 2 010 0 610 J
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<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 inspeet 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. Truster 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. Trustnr may contest in goad
<br />faith any such law, ordinance, or regulation and withhold compliance during: any proceeding, including appropriate appeals, so long as
<br />7rustor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are
<br />not jeopardized. Lender may require Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect
<br />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 Loan. If soma of all of the proceeds of the loan creating the Indebtedness.. are to be used to construct ar complete
<br />construction of any Improvements on the Property, the Improvements shall be completed nn later than the maturity date of the Nate
<br />Ior 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 ar transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal,
<br />beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, 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 ar by Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Daed 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 sewed, fines and impositions levied against ar on account of the Property, and shall pay when due all claims far 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 or 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 Contest. Trustnr may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
<br />obligation to pay, sn Inng 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 (151 days after the lien arises nr, 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 6y Lender, deposit with Lender cash or a sufficient corporate surety bond or
<br />other security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and attorneys' fens, 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 ~m'iarid' furnish to Lerider satisfactory eviderice of payment of the taxes ar 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 (15) 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 be 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 Trustnr 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 far the full insurable value covering all Improvements on the Real Propsrty in an amount
<br />sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such
<br />other hazard and liability insurance as Lender may reasonably require. Policies shall be written in farm, amounts, coverages and 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 policies or certificates of insurance in form satisfactory to Lender, including
<br />stipulations that coverages wilt not bs cannelled or diminished without at least ten 11 Q1 days prior written notice to Lender. Each
<br />insurance policy also shall include an endorsement providing that coverage in favor of Lander will not be impaired in any way by any
<br />act, emission or default of Trustor or any other person. Should the Real Property be located in an area designated by the C~irectar of
<br />the Federal Emergency Management Agency as a spacial flood hazard area, Trustor agrees to obtain and maintain Federal Flood
<br />Insurance, if available, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the
<br />maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such
<br />insurance for the term of the loan.
<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 sa 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 />soy 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 or reimburse Trustnr 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 shell 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 Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustor's interests may appear.
<br />LENDER'S EXPENDITURES. If Trustnr fails IAI to keep the Property free of all taxes, liens, security interests, encumbrances, and other
<br />claims, Igl to provide any required insurance on the Property, or ICI to make repairs to the Property then Lender may do so. If any
<br />action or proceeding is commenced that would materially affect Lender's interests in the Property, then Lender nn Trustor's behalf may,
<br />but is not required to, take any action that Lander believes to be appropriate to protect Lender's interests. All expenses incurred or paid by
<br />Lender for such purposes will then bear interest at the rata charged under the Note from the date incurred or paid by Lender to the date of
<br />repayment by Trustor. All such expenses will became a part of the Indebtedness and, at Lender's option, will IAI be payable on demand;
<br />(g) be added to the balance of the Nota and be apportioned among and be payable with any installment payments to became due during
<br />either 111 the term of any applicable insurance policy; or 12) the remaining term of the Nota; nr ICI be treated as a balloon payment
<br />which will be due and payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. The rights provided
<br />for in this paragraph shall be in addition to any other rights nr any remedies to which Lender may be entitled on account of any default.
<br />Any such action by Lender shall not bo construed as curing the default so as to bar Lender from any remedy that it otherwise would have
<br />had.
<br />WARRANTY; DEFENSE OF TITLE. Tha fallowing provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all
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