|
20�007�5��
<br />DEED OF TRUST
<br />Loan No: 872058045 (Confiinu8d)
<br />Page 2
<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. The provisions of this section of the beed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfactian and reconveyance of the lien of this Deed of 1'rust and shall not be
<br />affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste vn
<br />or to the Property or any portion of the Property. Withaut limiting the generality of the foregoing, Trustor will not remove, vr grant to
<br />any other party the right tv remove, any timber, minerals (including oil and gas1, coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Impravements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written conssnt. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
<br />to Lender ta replace such Improvsments with Improvements of at least equal value.
<br />Lender's Right to Enter. l.ender and Lender's agents and representatives may enter upvn the Real Property at all reasanable times to
<br />attend to Lender's interests and to inspect the Real Property for purposes of Trustor's compliance with the terms and conditions of
<br />this �eed of Trust.
<br />Compliance with Govarnmental Requiremants. Trustor shall promptly comply with all laws, ordinsnces, and regulations, now or
<br />hereafter in effect, of all governmental authorities epplicable to the use or occupancy of ths Property. Trustor may contest in good
<br />faith any such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as
<br />Trustor has notified Lend�r in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are
<br />npt jeopardized. Lender may require Trustnr to post adequata security or a surety bond, reasonably satisfactory to Lender, to protect
<br />Lender's interest.
<br />Duty to Protect. Trustor agreas neither to sbandon 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 />DU6 ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declsre immediately due and payable all sums secured by this
<br />Deed of Trust upon the sale or transfer, without Lender's prior written consent, af all or any part ot the Real Property, or any interest in the
<br />Real propsrty. A"sale or transfer" means tha 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, cnntract
<br />for deed, leasehold interest with a term greater than thrae (3) years, lease-option contract, or by sale, assignment, or transfer of any
<br />beneficial interest in nr to any land trust holding title to the Real Property, or by any other method af conveyance of sn interest in the Real
<br />Property. Howevsr, 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 tp the taxes and liens on the Property are part af this �eed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all #axes, special taxes, assessments, charges (including
<br />water and sewar►, fines and impositions levied sgainst or on account of the Property, and shall pay when due all claims for work done
<br />on or for services rendered or material furnish�d to the Property. Trustor shall maintain the Property free of ell liens having priority
<br />over or equal to the interest of Lender undar this Deed vf Trust, except for the lien of taxes and assessments not due, except for the
<br />Existing Indebtedness referred to below, and except as otherwise provided in this besd of Trust.
<br />Right to Gvntest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
<br />obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result af nonpayment,
<br />Trust�rr shall within fifteen (15) days efter the lien arises or, if a lien is filed, within fifteen (15) days after Trustor has notice of the
<br />filing, secure the discharge of the lien, pr if requested by Lender, deposit with Lender cash or a sufficient carporate surety band or
<br />other security satisfactory to Lender in an amount sufficient to discharga the lien plus any cvsts and attorneys' fees, or other charges
<br />that could accrus 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 enfnrcement agsinst the Property. Trustor shall name Lender as an additional obligee under any
<br />surety bond furnished in the contest proceedings.
<br />Evldence af Payment. 7rustor shall upon demand furnish to Lender satisfactary evidence of payment of the taxes or 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 Prnperty,
<br />Notice of Construction. 7rustor 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, nr other lien could be asserted on
<br />account of the work, services, or materials. Trustor will upon request nf Lender furnish to Lender advance assurances satisfactory to
<br />Lender that Trustor can and will pay the cost of such impravements.
<br />PROPERTY DAMAGE INSURANCE. 7he following prpvisions 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 ftlr 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, together with such
<br />other hazard and liability insurance as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis
<br />reasona6ly 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 tv time the policies or certificates of insurance in form satisfactory to Lender, including
<br />stipulations that coverages will not be cancetled or diminished without at least ten (10) days prior written notice to Lender. Each
<br />insurance pnlicy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any
<br />act, omission or default of Trustor or any other person. Should the Real F'raperty be 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 maintein Federal Flood
<br />Insurance, if available, for the meximum amount of Trustor's credit line and the full unpaid principal balance of any prior liens on the
<br />property securing the loan, up to the maximum policy limits set under the Nationai Flood Insurance Program, or as otherwise required
<br />by Lender, and to maintain such insurance for the term of the Ioan.
<br />Application of Proceeds. Trustor shall promptly nntify Lender of any Inss or damage tv the Proparty. Lender may make proof of Inss
<br />if Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's
<br />election, raceive and retain the proceeds of any insurance and apply the proceeds ta the reduction of the Indebtedness, psyment of
<br />any lien affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and
<br />repair, 7rustor shall repair vr replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory proof af such expenditure, pay ar reimburse Trustor from the proceeds for #he reasonable cost of repair or restoration if
<br />Trustor is not in default under this Deed of Trust. Any proceeds whiCh have not been disbursad within 180 days after their receipt
<br />and which Lender has not committed to the repair or restoration of the Property shall be used first to pay eny amount owing to Lender
<br />under this Deed pf Trust, then tn pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness, If Lender holds any procaads after payment in full of the Indebtedness, such proceeds shall be paid to Trustar as
<br />Trustor's interests may appear.
<br />Complianca with Existing Indebtedness. buring the period in which any Existing Indebtedness described below is in effect, compliance
<br />with the insurance provisions contained in the instrument evidencing such Existing Indebtedness shall constitute compliance with the
<br />insursnce pravisions under this Deed nf Trust, to the extent compliance with the terms of this Deed of Trust would constitute a
<br />duplication of insurance requirement. If any proceeds from the insurance becnme payable on loss, the provisions in this Deed of 1'rust
<br />for division of proceeds shall apply only to that portian of the proceeds not payable to the holder of the Existing Indebtedness.
<br />LENDER'S EXPENDITURES. If Trustar 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 any abligation to
<br />maintain Existing Indebtedness in good standing as required 6elow, then Lender may do so. If any action or proceeding is commenced that
<br />would materislly affect Lender's interssts in the Property, then Lender on Trustor's behalf may, but is not raquired 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 bear
<br />interest at the rate charged under the Credit Agreement from the date incurred or paid by Lendar to the date of repayment by Trustor. All
<br />
|