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D�ED OF TRUST 2 Q 1Q Q'� "7 $�
<br />(Can#inued) Page 3
<br />Trustor. Hvwever, this option shall nof be exercised by Lender if such exercise is prohibited by federal law or by Nebraska law.
<br />TAXES ANL� 11EN5. The following prvvisions relating to the taxes and liens on the Property are part of this Deed pf Trust:
<br />Payment. Trustar shall pay when due (and in all events prior to delinquency) all taxas, special taxes, assessments, charges (including
<br />water and sewer�, fines and impositians levied against or on account af the Property, and shall pay when due all claims for work done
<br />an or for services rendered or material furnished to the Property. Trustar shall maintain the Proparty free of all liens heving priority
<br />nver or equal to the interest of l.ender under this Deed of Trust, except for the lien of taxes and assessments not dus and except as
<br />�therwise provided in this Deed of Trust.
<br />Right to Contes#. Trustor may withhold payment of any tax, assessment, or claim in connection with a gopd faith dispute over the
<br />obligation to pay, so Iong 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 (15) days after the lien arises or, if a lien is filed, within fifteen (15) days alter Trustor has notice of the
<br />filing, secure the discharge of the lien, or if requssted by Lender, deposit with Lender cash or a sufficisnt corporate surety bond pr
<br />other security satisfactory to Lender in an amount sutficient to discharge the lien plus any costs and attorneys' fees, or other charges
<br />tMat could acerue as a result of a foreclosure or sale under the lien. tn any contest, Trustor shall defend itself and Lender and shall
<br />satisfy any adverse judgment befare enforcement against the Property. Trustor shall name Lender as an additianal obligee under any
<br />surety bond furnished in the contest proceedings.
<br />Evidence af Peyment. Trustor shall upon demand turnish to Lender satisfactory evidence af payment of the taxes or assessments and
<br />shall autharize the appropriate governmental official tn deliver to Lender at any time a writtsn statement of the texes and assessments
<br />against the Property.
<br />Notice of Construction. Trustor shall nptify Lender at least fifteen (15) days befpre 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 pther lien could be asserted on
<br />account of the wnrk, services, or materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory ta
<br />Lender that Trustor can and will pay the cost af such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Prpperty are a part of this Deed of 7rust.
<br />Maintenance of Insuranca. Trustor shall procure and maintain policies of fire insurance with standard extended ooverage
<br />endorsements on a fair value basis tor the full insurahle value cpvering all Improvements on the Real Prpperty in an amount sufficient
<br />to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor ofi Lendsr. Trustor shall also procure
<br />and meintain comprehensive ganeral liability insurance in such coverage amounts as Lender may request with Trustee and Lender
<br />being named as additional insureds in such liability insurence policies. Additionally, Trustor shall maintain such other insurance,
<br />including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be
<br />written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably
<br />acceptable to Lender. Trustor, upon request oi Lender, will deliver to Lender from time to time the policies or certiticates af insurance
<br />in form satisfactary to Lender, including stipulations that coverages will not 6e cancelled ar diminished without at least thirty (30)
<br />days pripr written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favpr of
<br />Lender will not be impaired in any way by any act, omission or default of Trustor or any oChsr person. Should the Real Property be
<br />located in an erea designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, 7rustor
<br />agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that the Property is
<br />located in a special .flood hazard area, for the full unpaid principal balance of the laan and any prior liens on the property securing the
<br />loan, up to the maximum policy limits set under the Natipnal Fload Insurance Program, or as otherwise required by Lender, and to
<br />maintain such insurance for the term of the loan.
<br />Appliaation of Proceeds. Trustor shall promptly notify Lender of any loss or damage tn the Property. Lender may maka propf pf loss
<br />if Trustar fails to do so within fiiteen 115) days of the casualty. Whether or not Lender's security is impaired, Lendar 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 elects to apply the proceeds to restoration and
<br />repair, 7rustor 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 Trustor from the proceeds for the reasonable cost of repair or restoratian if
<br />Trustor is nnt in default under this f7eed of Trust. Any proceeds which have not been dishursed within 180 days after their recaipt
<br />and which Lender has not committed tp tha repair or restoration of the Property shall be used first to pay any amount owing to Lender
<br />under this Deed nf Trust, then to pay aceruad interest, and the remainder, if any, shall be applied to the principal balance of ths
<br />Indebtadness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustor's interes#s may appear.
<br />1'rustor's Report on Insurance. Uppn request of Lender, however not mvre than once a year, Trustor shall fumish ta Lender a report
<br />on each existing policy of insurance showing: (1) the name of the insurer, (2) the risks insured; (3) the amount of the policy; (4)
<br />the property insured, the then currant replacement value of such property, and the manner of determining that value; and (5) the
<br />expiration date of the policy. Trustor shell, upon request of Lender, have an independent appraiser satisfactory to Lender determine
<br />the cash value replacement cost of the Property.
<br />I.END�R'S EXPENDITUR�S. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if
<br />7rustor fails tv comply with any provision of this Deed of Trust or any Relatad Documents, including but not limited to Trustar's failure to
<br />discharge or pay when due any amounts Trustor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender
<br />on Trustor's behalf may (but shall not be obligated to► take any action that Lendar deems appropriate, including but not limited to
<br />discharging nr paying all taxes, liens, security interests, encumbrancas and other claims, at any time levied or placed on the Property and
<br />paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes
<br />will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of rapayment by Trustor. All
<br />such expanses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the
<br />balance of the Note and be apportipned among and be payable with any installment payments to become due during either (11 the term of
<br />any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and
<br />payabla at the Note's maturity. The Deed of Trust also will secure payment of thase amounts. Such right shall be in addi[ion to all othar
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