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D�ED OF TRUST 2 010 0 7 s s 4
<br />(Cantinued) Page Z
<br />to Lender tb replace such Improvements with Improvnments of at 12�ast equal value.
<br />Lender's Right to Enter. Lender and Lender'S agc�nts and represent�rtives may enter upon the Real Property at all re�snnable times to
<br />atiend to Lender's interests and to inspc:cl the Fteal Property fnr purpoaes of Trustor's compliance with the tc�rms and canditions oi
<br />this Deed of l'rust.
<br />Compliance with Governmental Hequirerrrents. Truslqr shall promptly comply with all laws, ordin�nces, end regulaYions, now or
<br />hereafter in effect, af all governmental �uthprities appliceble to the use or occupancy of tha Property. Trustor may contest in good
<br />teith any such I�aw, ordinence, nr regulation and withhnld compliance during any proceediny, including appropriate appeals, so long �s
<br />Trustor has noti(ied Lender in writing pribr to doing so and so long as, in Lendczr's sole opinibn, Lender's interests in the Property are
<br />not jeapardized. Lender may require Trustnr to pnst ad�quete security or a surety bnnd, re�sonably satisfectory lo Lender, to prntect.
<br />Lender's interest.
<br />Duty to Protect. Trustor agrnes neither to abandan or leave unattended tho f'roperty. Trustor shall do all other scts, in addition to
<br />those acts set fprth above in this section, which from the characker and use of the Prpperty are reasonably necessary to protecf and
<br />preserve the Proparty.
<br />Ganstructinn Loan. If some pr ell nf the proceada pf the Inan creating the Indebtedness are to be used tn eonstruct or complECe
<br />construction of any Improvements on the Prqperty, the Improuements shall be completed no later then the ma�turity date of the Nc�te
<br />(or such e�rliqr dete as Lender m�y rc�asonably establish) and 7rustor shall pay in (ull all costs and expenses in connecti�n with the
<br />work. Lender will disburse lat�n prqcr.r.ds under such terms and conditinns as Lender may deem retasanably necessary to insure that
<br />thc� intt;rest created by this Dc�ed nf 7rust shall h�ve priority over 711 possible lions, includiny those of material suppliers and workmen.
<br />L�nder may require, among other things, that disbursement requests be suppnrted by receipted 6ills, expense o(fidavits, waiuers o(
<br />liens, construction progress reports, �and such other documentation as Londer may reasonobly request.
<br />qUE �N SAL� - CONSENT BY LEN[7ER. Lender mtay, t�t Lender's option, declt�rp immedietely due and payable all sums secured by this
<br />Deed o( rtrust upon the sale or transfer, without Lender's prior written conscnt, of all or any p�rt of the Real Prop�rty, or any inter�st in the
<br />Re�l Property. A"s�ale or trnnsfer" means the conveyance �f Retal Property or any righl, fitle or interest in fhe Real f'roperty; whether legal,
<br />beneticial or equitablq; whether voluntary pr involuntary; whethar by outright sAle, de�d, installment sale cqntract, land contract, cbntract
<br />for deed, leasehold interest with a tc:rm greater th�an three (31 years, lease-aption contract, or by sale, essignment, or transfer of any
<br />beneficial interest in or to any land trust holding title ta the fieal Prnperry, or by any other me;thnd o( cbnveyt�nc;e n( an interest in the Real
<br />Property. However, this �ption shall nt�t be exercised by Lender if such exercise i5 prohibited by feder�l I�w qr by Nebr�isk�t I�aw.
<br />TAXES AND LIENS. ?he following provisions relating tb the t�xes and liens on the Property are pert nf this Dr.ed of "Trust:
<br />Payment. Trustor sht�ll pay when due (nnd in all events prior to delinquency) 711 taxes, special t�axes, assessmenis, ch�ryes (including
<br />w�ater �nd sewerl, fines and impc�sitions levied against or on account ni the Prnpnrty, and shall p�y when due ��U c:laim5 (or work dane
<br />on or (or services rendered or material furnished in the Property. Trustc�r shall maintain lhe Property free of all liens having priority
<br />ovcr or equal to the interest of Lender under this Deed of Trust, except for the lien o( tt�x�s and assessments npt due, exeept for Ihe
<br />Existing InclebtednFSa referred to below, nnd except as otherwise provided in this Deed of 7rust.
<br />Right to Contest. Trustor may withhold ptayment of any tax, assessment, or claim in connection with a go�d faith dispute ovt;r the
<br />obligati�n to pay, so long as Lender's intarest in the Property is not jeopardized. If a lien arise5 or is filed as a result of npnpayment,
<br />Trustor sht�ll within fifteen (151 days after the lien arises or, if a lien is filed, within fifteen (15) dtays aiter Trustor h�s nptice bf the
<br />filing, secure the disch�arge of thc lien, or if requested by Lender, deposit with Lender c�5h nr a sufficient corporatc surety bond or
<br />other security satisfactory to Lender in an �amount sufficient to discharge the lien plus any casts end attomeys' fees, or nther charges
<br />that could accrue as a result of a for�clnsure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall
<br />satisfy any adverse judgment before enforcement egainst the Property. Trustor shall name Lender as an additional nbligee under eny
<br />surety bond furnished in the contest proceedings.
<br />Euidence af Payment. "i'rustor shall upon demand turnish ta Lender satisfactory svidence of payment of the taxes or esseasments and
<br />shall authorize the appropriate govemmental official ta deliver tn Lender at any time a written statement of the taxes and assessments
<br />�gainst the Property.
<br />Notice of Cqnstruction. ?rustbr sht�ll noti(y Lender at leF�st fi(reen (15) days be(ore �ny work is ebmmenced, any servicc;s s�rc
<br />furnishcad, or any materials ar� supplied to the Property, it eny mt�ch�nic's lien, materi�lmen's lien, or other lien c;ould bc� asserted on
<br />a�ccount of the work, services, or materials. Trustor will upbn requt;5t o� Lender furnish to Lender advance assurt�nr.�s satisfactory tn
<br />Lender th�t TruStar can and will ptay the cost of such improvements.
<br />PRC7PER1'Y DAMAGE INSURANCE. 7he following provisions relating to insuring the Property �are a p�rk of this Deed o( Trust.
<br />Maintenance of Insurance. Trustor shall procure �nd maintain policies of fire insurance with standard extended coveragp
<br />endorsements an � fair value basis for the full insurable ualue covering all Improuements an the Real Property in an amount suttir.i�nt
<br />to avqid applicatibn oi any coinsurance clau5e, �tnd wikh a standerd mortgagec� clause in tavc�r o( Lender, together wit.h such other
<br />haza�rd end liability insurance as Lender may re�sonably require. Policies shflll be written in form, amounts, couerages fand basis
<br />reasonably �coeptable to Lender and issued by t� company br companies reasonably ecceptable to Lender. Trustor, upon requesi nf
<br />Lender, will deliver to Lender frnm time to timr, the pnlicies or ceriificates nf insurance in form satisfactory to Lender, including
<br />5tipulations thet coverages will nbt be cancelled or diminished without at least ten (10) d�ys prior written notice to Lender. E.ach
<br />insurancc policy also shell include an endorsement providing that coverage in fauor of Lc;nder will not be impaired in any w�ty by any
<br />�ct, omission or default of Trustnr or any other person. Should the Real Property be Incated in an area designnted by the Director pf
<br />the Feder�tl Emergency Management Agency as a speciel tlond haiard area, 7rustor ayrees to obtain and m�int�rin Fecieral Flood
<br />Insurence, i( available, for the full unpaid principal 6alance of the loan nnd any priar liens on �he property securing the Ipan, up to the
<br />ma�ximum policy limits set und�r the Neition�tl Flood Insur�nce Program, or as athcrwise required by Lender, and to mainYain sur.h
<br />insurance (or lhe term pf the loan.
<br />Application of Procesds. Trustor shall promptly notify Lender oi any loss nr damage to thc: F'rbp��rt.y. Lendcr may m�kE prnc>f nf loss
<br />it lrustar (�ail5 to do so within fitteen (15) dtays nf the casualty. Whether or not Lender's sccurity is impaired, Lenc�er may, t�t Lender's
<br />ele�tion, rc:�ceive and retain the proc�eds of any insuranee �and apply the proceeds to the reduction of the Indebtedness, pt3yment bf
<br />any lien affecting the Property, or the restor�ation and reptair nt the ('roperty, If L��ndcr elects to apply tho pmcr.eds to re5tor�.ttion F�nd
<br />repair, Trustor shall repair pr replace the d�am�ged ar dnstroyed Improvements in t� manner satisfaciory to Lender. Lender sh�all, upon
<br />satisftaetory proo( o( such expenditure, pay or reimburse Trustor (rom the proceeds tor the reasonable cost ot repair or r�5toration if
<br />Trustor is not in default under this DE;ed of Trust. Any proceeds which have not been disbursed within 180 days <'�fter their receipt
<br />and which Lender has not committed to the repair or restoratian of the Property shsll be used (irst to pay any amount awing to Lender
<br />under this Deed of Trust, then to p�y �accrued intorest, and the remainder, if any, shnll be applied to the princip�al balance at the
<br />Indet�YednE:ss. If Lender holds ctny prc>ceeds �tter peyment in full of the Inde6tedness, such procepds shall be p�aid to Trustor as
<br />Trustor's interests may �ppear.
<br />Compliance with Existing Indehtednass. During the peripd in which any Existing Indebtedness described below is in effect, compliance
<br />wi[h the insur�nca provisions conteined in thp instrument evidencing such Existing Indebtedness shall constitute compiiance wifh the
<br />insur�nce provisions under this D��ed oi 7rust, to the extent cpmpliance with the terms of this beed of Trust would constitute a
<br />duplicatibn of insurance raquirement. If �tny proceeds irom the insurance become payable on loss, fhe prpvisions in this []eed ot Trust
<br />for division Wf prpceeds shall apply nnly ro thflt portion of the proceeds not pay�ble to the holder of the Existing Indebtedness.
<br />L�NbER'S EXPENDITURES. If 7rustor fails IA) to keep thp Property free bf all taxes, liens, security interesls, encumbr7nces, �tnd nt.her
<br />claims, (Bl to prnvide any required insureinee on the, f'roperty, IC) tb makE: rt3p�irs to the Property t�r to r.omply with any obligt�tion to
<br />m�intain �xisting Indebtedness in good standing as required below, lhen Lender may db sb. Ii t�ny �ction or proceetling i5 c;ommenced that
<br />wquld materially aftect Lender's interesCs in the Property, then �c:nder on Trustor's behalf m�y, but ie not required tn, tt�ke �ny ac:tion that
<br />Lender believes tv be appropriate to protect Lender's intere5ts. All expenses incurred or p�id �iy Lender tor sueh F�urposes will then be�r
<br />intere5t at the r<�te chtarged under the Note frbm thc: date incurred or paid by Lender Co the date ol reptayment by rrustnr. /�II such
<br />expenses will 6nr.ome a part oi the Indct�lodness and, at Lendzr's option, will (A) be payable on demand; 181 be added tc� fhe bal�nce of
<br />thp Note and be apportioned �im�ng pnd be pe3yable with any insiallm��nt payments to becnm� dus during either (1) thE� tr.rm of any
<br />opplica6le insurance policy; or (Z) the r�amaining term o( the Nole; ar (Cl be treated �as a ballopn payment whieh will be due and payable
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