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Loan No: 340832a944
<br />�o�_uo�s�c
<br />DEED OF TRUST
<br />(Continued)
<br />Page 2
<br />DATE WEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEM�NT, QR ANY OF THE RELATED DOCUMENTS
<br />REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND
<br />ACCEPTED ON TWE FOLLbWING TERMS:
<br />TRUSTQR'S REPRESENTATIpNS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and
<br />not at the request of Lender, (b) Trustor has the full power, right, and authority to enter into this beed pf Trust and to hypothecate the
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default undar any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has
<br />established adequate means of obtaining from 8orrower on a continuing basi5 information about Borrower's financial condition; and (e)
<br />l.ender has made no representation to 7rustor about Borrower (including without limitatipn the creditworthiness of Borrowerl.
<br />TRUSTQH'S WAIVERS. Trustor waivss all rights or defenses arising 6y reason of any "one action" or "anti-deficiency" law, or any pther
<br />law which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise
<br />entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judiciaily or by
<br />exercise of a power of sale.
<br />PAYMENT AMD PERFORMANCE. Except as otherwise provided in this Dsed 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 Relatsd Documents.
<br />CONSTRUCTION MORTGAGE. This peed of Trust is a"construction mortgage" fpr the purposes of Sections 9-334 and 2A-309 af the
<br />Uniform Commercial Code, as thnse sections have been adopted by the State of Nebraska.
<br />POSSESSIQN AND MAINT�NANCE QF THE PRQPERI"Y. Borrower and 7rustor agrse that Borrower's and Trustor's possession and use of
<br />the Property shall be governed by the following provisions:
<br />Possesslon and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control af the Property;
<br />(a) use, operate or managa the Property; and (3) collect the Rents from the I'roperty.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantabte condition and pramptly perfarm all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Mazardous Substance by any person on, under, about or from the Property; (2) 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, (a) any breach or violation of any
<br />Environmental laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Proparty by any prior vwnars ar occupants of the Property, or (c) any actual or
<br />[hreatened 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, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall wse, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about ar 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 withnut limitetinn alI Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspectiqns and tests, at Trustor's axpense, as Lander may deem apprppriate 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 Substsnces. 7rustor
<br />hereby (1) rele�ses and waives any future claims against lender for indemnity or contribution in the evant Trustpr becomes liable for
<br />cleanup or other cpsts under any such laws; and (2) agrees to indemnify, defend, and hald harmisss Lendar against any and all
<br />claims, losses, liabilities, damages, penalties, and axpenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this sec[ion 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. 7he provisions of this section of the Deed of Trust, including tha 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 fpreclosure or otherwise.
<br />Nuisance. Waste. Trustor shall not cause, conduct or permit any nuisance nar commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any pnrtion 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 />Fiemoval of Improvements. Trustor shall nat demolish pr remove any Imprnvemsnts from the Real Property without Lender's prior
<br />written consant. As a condition tp tha removal qf any Improvements, Lendar may require Trustor to make arrangements satisfactory
<br />to Lender to replace such Improvements with Imprnvements nf et 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 Lendar's interests and to inspect the Real Property for purposas of Trustnr's compliance wi[h the terms and conditions of
<br />this Deed of Trust.
<br />Cnmpliance with Government�l Requirements. Trustqr shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmental authorities applicable tn the use or occupancy of the Property, including without limitatinn, the
<br />Americans With Disabitities Act. Trustpr may contest in gond 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 pripr tn doing so and so long as,
<br />in Lender's sole opinion, Lender's inte�ests in the Property are not jeopardized. Lender may require Trustor to post adequate security
<br />or a surety bond, reasonably satisfactory to l.ender, 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
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