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MORTGAGE 2 O 1 O U�$$ J
<br />Loan No: 49943LP (Cantinued) Page 2
<br />to make such inspections and tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Mortgage. 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 lia6ility on the part of Lender to Grantor or to any other person. The representations and
<br />warranties contained herein are based on Grantor's due diligence in investigating the Property for Hazardous Su6stances. Grantor
<br />hereby 11) releases and waives any future claims against Lender for indemnity or contribution in the event Grantor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penal#ies, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section of the Mortgage or as a consequence of any use, generation, manufacture, storage, disposal, release or
<br />threatened release occurring prior to Grantor's ownership or interest in the Property, whether or not the seme was or should have
<br />been known to Grantor. The provisions of this section nf the Mortgage, including the obligation ta indemnify and defend, shall survive
<br />the payment of the Indebtedness and the satisfection and reconveyance of the lien of this Mortgage and shall not be affected hy
<br />Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor 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 />____ _..,. EtemavaL�L_LnprnvEm�nts.. ,.C,rantpr. shall not demplish..or_remave. an.ti_ImprQVements.,from .She...Real ProparLy. �cvithout Lender's .pri.or
<br />written consent. As a condition to the removal of any Improvements, Lender may require Grantor to make arrangements satisfactory
<br />to Lender tn replace such Improvements with Improvements of at least equal value.
<br />Lender's Right tn Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to
<br />at#end to Lender's interests and to inspect the Real Property for purposes of Carantor's compliance with the terms and conditions of
<br />this Mortgage.
<br />Gompliance with Gavernmental Requirements. Grantor 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 nf the Property, including without limitation, the
<br />Americans With Disabilities Act. Grantor may contest in good faith any such law, ordinance, or regulation and withhold compliance
<br />during any proceeding, including appropriate appeals, so long as Grantor has natified Lender in writing prior to doing so end so long
<br />as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate
<br />security or a surety 6ond, reasonaply satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor 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 some or all of the proceeds of the loan creating the Indebtedness are to be used to construct or complete
<br />construction of any Improvements on the Property, the Improvements shall be completed no later than the maturity date of the Note (or
<br />such earlier date as Lender may reasonably esta6lish) and Grantor shall pay in full all costs and expenses in connection with the work.
<br />Lender will disburse loan proceeds under such terms and conditions as Lender may deem reasonably necessary to insure that the interest
<br />created hy this Mortgage shall have priority over all possible liens, including those of material suppliers and workmen. Lender may require,
<br />among other things, that disbursement requests be supported by receipted bills, expense affidavits, waivers of liens, construction progress
<br />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 />Mortgage upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, ar any interest in the
<br />Real Property. A"sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal,
<br />6eneficial 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 th_an three (3) year�, lease-option contract, qr by sale.,_ assignm�nt, or transfer of any
<br />. _. . .
<br />beneficial interest in or 4o any land trust holding title to the Real Property, or by any other method nf conveyance of an interest in the Real
<br />Property. If any Grantor is a corporation, partnership or limited liability company, transfer also includes any change in ownership of more
<br />than twenty-five percent (25%) of the voting stock, partnership interests or limited liability company interests, as the case may be, of such
<br />Grantor. However, 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 to the taxes and liens on the Property are part of this Mortgage:
<br />Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, payroll taxes, special taxes, assessments,
<br />water charges and sewer service charges levied against or on account of the Property, and shall pay when due all claims for work
<br />done on or for services rendered or material furnished to the Property. Grantor shall maintain the Property free of any liens having
<br />priority over or equal to the interest of Lender under this Mortgage, except for those liens specifically agreed to in w,riting by Lender,
<br />and except for the lien of taxes and assessments not due as further specified in the Right to Contest paragraph.
<br />Right to Contest. Grantor 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 of nonpayment,
<br />Grantor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Grantor has notice of 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, Grantor shall defend itself and Lender and shall
<br />satisfy any adverse judgment 6efore enforcement against the Property. Grantor shall name Lender as an additionel n6ligee under any
<br />surety 6ond furnished in the contest proceedings.
<br />Evidence af Payment. Grantor shall upon demand furnish to Lender satisfactory evidence nf 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 Property.
<br />Notice of Construction. Grantor shell notify Lender at least fifteen (15) days 6efore 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 6e asserted on
<br />account of the work, services, or materials. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to
<br />Lender that Grantor can and will pay the cost of such improvements.
<br />PROPERTY DAMAGE INSURANC�. The following provisions relating to insuring the Property are a part of this Mortgage; _..
<br />Maintenance of Insurance. Grantor shall procura and maintain policies of 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 e standard mortgagee clause in favor of Lender. Grantor shall also
<br />procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Lender being
<br />named as additional insureds in such liability insurance policies. Additionally, Grantor shall maintain such other insurance, including
<br />but not limited to hazard, business interruption and boiler insurance as Lender may require. Policies shall be written by such insurance
<br />companies and in such form as may be reasonably acceptable to Lender. Grantor shall deliver to Lender certificates of coverage from
<br />each insurer containing a stipulation that coverage will not be cancelled or diminished without a minimum nf ten (10) days' prior
<br />written notice to Lender and not containing any disclaimer of the insurer's liability for failure to give such notice. Each insurance
<br />policy also shall include an endorsement providing #hat coverage in favor of Lender will not be impaired in any way by any act,
<br />omission or default of Grantar or any other person. Should the Real Property 6e located in an area designated by the Director of the
<br />Federal Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood
<br />Insurance, if available, within 45 days after notice is given by Lender that the Property is Iocated in a special flood hazard area, for the
<br />fuil unpaid principal 6alance of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set
<br />under the National Flood Insuranc� Program, or as otherwise required by Lender, and to maintain such insurance for the term of the
<br />Ipan.
<br />Application of Praceeds. Grantar shell promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss
<br />if Grantor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's
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