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DEED OF TRUST � o i u u 7 s 9 2
<br />(Cantinued) Page 2
<br />been known to Triastar. The provisions of this se<:tion of the Deed oi Trust, including the nbligatiqn to indemniiy �nd defend, shall
<br />survivt� thc payment of the Indebtodness and the saYis(action and reconveyanee of tho lien of this Deed af Trust end shall not bc
<br />aHected by Lender's acquisitiqn of any interest in the Property, whether by foreclosure or ntherwise.
<br />Nuisance, Waste. Trusfor shall nbt c�ause, conduct or permit any nuisonce nor commit, permit, �r suffer any sYripping pf or waste on
<br />or to the Properly or �ny portibn nf the Proparky. Without limiting ihe genarality of the foregoing, T'rustor wi�l not remove, or grant to
<br />any othar party the right to remove, any timber, minerals (including nil and gasl, coal, clay, scoria, sail, gravel nr roek products
<br />without Lander's prior written congent.
<br />Fiempval of Imprnvements. Trustor shell not demolish pr remove any improvaments frbm the Real Property without LAndcr's prior
<br />written eonsent. As a condition to the removal of any Improvements, Lender may require Trustor ro make arr�anc�ements ss�tisfactnry
<br />to Lender in replace such Improvements with Improvements of at le�st equal value.
<br />Lender's Hight to Enter. Lender t�nd Lender's agcnts nnd representatives may enter upon the Ret�l Prnperty at �all re��son�hln times to
<br />attend to Lenqer's intcresfs and lo insK�c:r.t the Real Property fbr purposes of 7rust�r's compliance with th�: terms and conditions o(
<br />this Deed ot Trust.
<br />Compliance with Governmental Fiaquirements. Trustar shall promptly cc,�mply with all laws, ordinances, �nd r�igulations, now or
<br />hpre�ftor in effect, of all gov�;rnmentai authoritie5 applicable to the use or occupancy of the Prpperty. Trustor may contest in good
<br />faith any suc;h law, ordinance, nr regulation and withh�ld complit�nce duriny ttny prpcoediny, including appropriate sppet�ls, so long as
<br />Trustor h�s nptified Lender in writing prior to doing so and so long as, in Lend<�r'S sole bpinion, Lender's interests in the F'rnperty tare
<br />not jeopt�rdized. Lender m�ty require 7rustor to posl adequate security or a surety 6ond, reasnnt�bly satisfactory to Lender, to protE:ct
<br />Lender's interest.
<br />Duty to Protect. 7rustor agrees neither to abandon or leave unattended the Property. Trustor shall do All other �cts, in additibn tn
<br />thosa acts set forth abnve in this secti�n, which from the character and use of the Property �ra reasonably na;c.essary to prntect and
<br />preserve the Prnperty.
<br />Construction Loan. I( some or all of the proceeds of the loan croating the Indebtednpss are to be used ko cbnstruct or complete
<br />constructibn c�f any Improvements on the Property, the Improvemants shall be completed no later than the maturity d�te of the Note
<br />I�r 5uch e<arlier date as Lender may reasonably establish) and Trustor shall pay in full all co5ts and expenses in connection with the
<br />wc�rk. Lender will disburse lot�n procr.eds under such tcrms and conditic�ns t�5 Lender may deem rensonably necesstary to insure that
<br />lhc; interest created by this Deed of 1'rust sht�ll hrrve priority bver all possible liens, including those of material �;upplicrs and workmnn.
<br />Lender m�y require, am�ng qther things, th�at disbursc:ment requests be supporied by reccipked bills, expenso affidavits, waiv<:rs of
<br />liens, construction prpgress reports, tand sur,h other documentFatipn as Lender m�y rF�sonably raquest.
<br />DUE ON SALE - CONSENT BY LENDEFi. Lender mt�y, at Lender's optinn, declare immedietely due and pay�ible tall sums secured by lhis
<br />Oeed of Trust upon the st�le or iransfer, withoul Lender's prior written c:c�nsent, of all or �ny parl of the Cieal Property, or any interest in the
<br />Real Property. A"s�ale or trtansfer" means the cqnveyence of Real PrqF�erty or any right, titic; or interest in the Fieal F'roperty; whecher Iegal,
<br />beneficial or Equitable; whether voluntary or involuntary; whether 6y outright sale, deed, insiallment s�ale contract, land confrsct, contract
<br />for deed, leasehold interest with a term greater th�an three (3) years, lease-option cnntract, or by sale, essignmenl, or transfer of any
<br />benetici�l interest in or to any land trust holding title to the Real Property, or by nny other method o( conveyance of t�n interest in thE: Re�l
<br />Propc:rty. However, this option shall nbt b� exercised by Lender i( such r.xercise is prohibited tay federal I�tw or by Nebraska law.
<br />TAXES AND LIENS. The follpwing provisibns rel�ating to the taxes and liens on the Property aro part bf this Deed of Trust:
<br />Paymont. 7rustor shell pay when due (and in all events prior tn delinquency) all taxes, special kaxes, assessmenfs, cherges (including
<br />water and sewer�, fines and impositions lavied against or on account of the Property, and shall pay when due �II claims for work dane
<br />on or for services rendered or m�terial furnished tn the Property. Trust�r shnll maintain the Property fren of all liens having priprity
<br />ovE�r qr equal to the interest of Lender under this Deed of 7rust, except for the lien of taxes and assessments not due and except as
<br />otherwise prouided in �his [3eed
<br />Right ta Contest. Truskor may withh�ld pt�yment of any tax, assessment, or claim in connection with a gbod itaith dispute ovar the
<br />obligation to p�y, so long as Lender's intr.rest in the Property is nor jeop��rdized. If a lien f�rises or is filed as �a result nf nonpayment,
<br />Trustor shnll within fifteen (15) days after the lien arises �r, if a lien is filed, within fifteen 115) days aftcr ?rustor h�s notice c>f the
<br />filinq, sQCUre the discharge of the lien, br if requesked by Lender, deposit with Lender cash �r � suFficient corp�ratE sur�ty bond or
<br />other security satisfactory to Lender in �n amount sufficient to discht�rgp thn lien plus any cosls end attbrneys' iee5, qr other ch�rges
<br />that could accrue as A result oi �a forecloaure or sale under th� lien. In any contcst, 7rustor shall defend itsc:l( and Lender and shfall
<br />satis}y any <'adverse judgment before eniorc:ement against the Prpperty. Trustor sh�all nt�me Lender as �n additipn�l obligee under any
<br />surc;ty bqnd furnished in the contest proceedings.
<br />Evidence of Payment. 1'rustor shall upon dcmand furnish to Lend�r s�tisfactory evidence of payment of the taxes or assessments and
<br />sh�ll authqrize the appropriate y�vernmental officiel to deliver tp Lender at eny time a writken statement of the tt�xes and assessments
<br />ayainst the Property.
<br />Notica of Construction. Truslor shall notity Lendcr at le�si fifteen (15) days beforc any wnrk is commenced, any services �rc
<br />(urnish�d, or any materials are supplied to che Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted On
<br />eccount of the work, services, or materials. TruStor will upon request of Lender furnish to Lender advance assurences satisfactory to
<br />Lender that Trustor can and will pay the eost of such imprnvements.
<br />PRdPERTY C7AMAGE INSURANC�. The following provisic�ns relating tb in5uring the Prpperty are a parY of this beed of Trust.
<br />MaintenancQ of Insuranca. trustor shall procure �and maintain policies pt fire insurance wich standard extended cover�ge
<br />endorsements qn a replacement basis (or the full insurable valuc covcring all Improvements on the Re�al f�rpperty in an amount
<br />su((icient tp evoid application nf any coinsurance clause, and with a standard mbrtgagee cl�use in tavor bf Lend�r, tqgether with such
<br />nther hazard and liability insurance as Lender may ret�sonably require. Pc�lit;ies shall be writien in fbrm, ��mnunts, cover�tges ��nd b��sis
<br />reasnnably �iceept�ble lo Lender and issued by �� company or comptanies repsnnably accept�able lo Lender. T'rustor, up�n re:quc:st n(
<br />Lender, will deliver to Lender from time to time the policies nr c�rrificates of insurance in form satisfaciory tn I�endc�r, including
<br />stipul�tions that cbver�tges will not be c.ancelled or diminished without at le�ast ten (10) days prior written notic� tc) Lender. Each
<br />insurance policy also shall include �n endorsement providing th�t coverage in favor of Lendpr will not be imp�rired in f3ny way 6y any
<br />act, omission pr default of Trustor nr any othnr person. Should the Real Property be located in an �are� clesignated by lhe Oirectnr q(
<br />the Fedaral Emergency Management Ayency as e special flood h�zard tarea, Trustor agrees f<> oblt�in and maint�ain Federal Flood
<br />Insurance, i( Av�ilable, for the full unpaid principal balance of the loan and �ny prinr liens on the property s�curing the loan, up to the
<br />maximum policy limits set under the Nationat Flood Insurt�nce Program, or as otherwise required by Lender, end tn maintain such
<br />insurance for the term of the loan.
<br />Applica#ion of Procaeds. Trustor shall promptly nntify Lender of any loss or damage tn the Property. Lender m�y m�ke proof of loss
<br />if 7rustor fails to do so within fifteen I1 5) days of the casualty. Whether or not �ender's security is impeired, L.ender may, at Lender's
<br />election, receive and retain the proceeds o( any insurance and apply the procceds to the reduction oi the Inde6tedness, peyment of
<br />any lien �affecting the F'roperty, or the restort�tipn and repair of the Property. If Lender elects ro tapply the proceeds tn restorati�n and
<br />rapF�ir, 7rustor shall repair or replace the damaged ar destroyed Improvaments in a menner satisfactary to Lender. Lender shall, upon
<br />satisfactnry prnof of such expenditure, pay or reimburse Trustor from the proceeds for the retasonable cost of reptair or r�storation it
<br />Trustor is nbt in default under this Deed of Trust. Any prpceeds which heve not been disbursed within 180 days aff�r their receipt
<br />�nd which l�ender h<�s not r.ammitted to the repair or restor�tion nf the Property shall be used first tn pay any amount owing tn Lender
<br />under this Devd of 7rust, then tn pay acerued intorest, and the remtainder, if any, shall 6e applied to the K�rincipal belance �f the
<br />Indr.btedness. If Lender holds tany prpc;eeds after peyment in full of the Indebtedness, such proceeds shall be paid to Trustor t�s
<br />trustor's interest5 may �ppetar.
<br />LENDER'S EXPENDITURES. If Trustor fails IA) t� keep tr�c Prpperry free of all taxes, licns, sc�r.urity interests, eneumbrances, and other
<br />t;l�ims, (B) to provide �ny required insur�nc� on the Property, or IC) fo m�ake repairs to the f'roperty then Lendcr may do so. If any
<br />r3ction or prbceeding is commenced thrit would materially afizct L.end�r's interests in the Prnperty, then Lender on Trustor's behalf m�y,
<br />6ut is not required to, take tany �action that Lender believes to be F�pprnpriate to prbtect Lender's inter�sts. All expenses incurred or pt�id by
<br />Lender fnr sueh purposc�s will then 6ear interest �at the rate c;harged under the Note from the date incurred or paid by Lendc;r ko the date oi
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