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DEED OF TRUST 2 01 U U'7 6 2 G
<br />Laan No: 3408320944 (Continued) Page 3
<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 tha Prqperty.
<br />Construction Loan. If some or all of the proceeds of the loan creating the Indebtedness ars to be used to construct or complete
<br />construction of any Improvements on the Property, the Improvements shall be completed np later than the maturity date of the Note
<br />(or such earlier date as Lender may reasonably establish) and Trustor shall pay in full all costs and expenses in connection with the
<br />work. Lender will disburse loan proceeds undar such terms and canditions as Lender may deem reasonably necessary to insure that
<br />the interast created by this �eed of Trust shall have priqrity over all possible liens, including those of material suppliers and workmen.
<br />Lender may require, among other things, that disbursemen[ requests be supported by receipted bills, expense affidavits, waivers of
<br />liens, construction progress reports, and such other documentation as L.ender may reasonably request.
<br />DUE ON SALE - CbNSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this
<br />Deed af 7rust upon the sale or transfer, without Lender's prior written consent, pf all pr any part of the Real Property, or any interest in the
<br />Real Proparty. A"sale ar transfar" means tha canveyance pf Real Prpperty or any right, title or interest in the Real Property; whether legal,
<br />beneficial or equita6le; whether voluntary or invaluntary; whether by outright sale, deed, installment sale cantract, land contract, contract
<br />for deed, leasehold interest with a term greater than three (3) 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. If any Trustor is a corporation, partnership or limited liability company, transfer alsp includes any change in ownership of more
<br />than twenty-five percent (25%) of the voting stock, partnership interests or limited lia�ility company interests, as the case may be, of such
<br />Trustar. However, this option shall not be exercised by Lender if such exercise is prvhibited 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 Daed of Trust:
<br />Peyment. 7rustor shall pay when due (and in all evan#s prior to delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewerl, fines and impnsitions levied against or on account of the Property, and shall pay when due all plaims for work done
<br />on or for services rendered or material furnished to the Property. Trustor shall maintain the Property frae pf all liens having priority
<br />aver 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 af 7rust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
<br />qbligation to pay, so long as Lender's interest in the I'roperty is not jeopardized. If a lien arises or is filed as a result of nonpayment,
<br />Trustor sh�ll within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after 7rustar has notice pf the
<br />filing, secure the discharge of the lien, or if requested by 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' fees, or other charges
<br />that could accrue as a result of a foreclosure or sale under the lien. In any contest, Trustar 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 />�vidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and
<br />shall authorize the appropriata govarnmental nfficial to deliver to Lender at any time a written statement of the taxes and assessments
<br />against the Property.
<br />Notice of Constructiqn. Trustor shall notify Lender ai least fifteen (15) days before any work is commenced, any services are
<br />furnished, or any meterials are supplied to the Property, if any mechanic's lien, materialmen's lien, or othar lian could be asserted on
<br />account of [he work, services, or materials. Trustor will upon request of Lender furnish ta Lender advance assurances satisfactory to
<br />Lender that Trustor can and will pay the cost of such improvements.
<br />PRQPERTY DAMAGE INSURANCE. The following provisions relating to insuring tha Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies af fire insurance with standard extended coverage
<br />endorsements on a replacement basis for the full insurable 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 Lender. Trustor shall also
<br />procure and maintain comprehensive general liability insurance in such coverage ampunts as Lender may request with Trustee and
<br />Lender being named as additional insureds in such liability insurance policies. Additionally, Trustor shall maintain such other
<br />insurance, including but not limited tv hazard, business interruption, and bailer insurance, as Lender may reasonably require. Policies
<br />shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies
<br />reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies or certificates
<br />of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancellsd or diminished without at least
<br />thirty (30) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in
<br />favar of Lender will not be impaired in any way dy any act, omission or dafault of Trustor or any other person. Should the Real
<br />Prpperty ha Ipcated in an araa dasignatad by tha Diractar of the Federal Emergency Management Agency as a special flood hazard
<br />area, Trustor agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days sfter notice is given by Lender that
<br />the Prvperty is located in a special flood hazard area, for the full unpaid principal balanca nf the loan and any prior liens on the
<br />property securing the loan, up to the maximum policy limits set under the National Flpod Insurance Program, or as otherwise required
<br />by L�nder, and tq maintain such insurence fpr the term of the Inan.
<br />Application of Praceeds. Trustor shall promptly nqtify Lender af any Ioss or damage to the Property. Lender may 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 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 />any lien affecting the Property, or the restoration and repair of the Property. If Lender e�ects to apply the proceeds to restoration and
<br />repair, Truscor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upan
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the prpceeds 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 18p days after their receipt
<br />and which Lendar has not committed to the rapair or r�storation of the Property shall be used first to p�y any amount owing to Lender
<br />under this Deed of Trust, then to pay eccrued interest, and the remainder, if any, shall be applied to the principal balance of the
<br />Indabtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
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