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201007934 <br />DEED OF TRUST <br />Loan No: 808329 (Continued) <br />Page 2 <br />Removal pf Improvements. Trustar shall not demolish or remove any Improvements from the Real Property without Lender's prior <br />writtan consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory <br />to Lender to replace such Improvements with Improvements of at least equal value. <br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at ell reasonabie times to <br />attend ta Lander's interests and to inspect the Real Property far purposes of Trustor's compliance with the ter�ns and conditions of <br />this Deed of Trust. <br />Cnmpliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or <br />hereafter in effect, of all governmental authorities applica6le to the use or occupancy of the Property. Trustor may contest in good <br />faith any such law, ordinance, or regulation and withhntd compliance during any proceeding, including appropriate appeals, so long as <br />7rustor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are <br />not jeopardized. Lender may require Trustar to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect <br />Lender's interest. <br />Duty to Protect. Trustor agrees neither to abandon 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 af the Property are reasnnably necessary to protect and <br />presarve the Property. <br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and paya6le all sums secured by this <br />Deed of Trust upon the sale or transfer, without Lender's prior written consent, af ell ar any part of the Real Property, or 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 />beneficial or equitable; whether volunt�ry or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract <br />for deed, leesehold interest with a term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any <br />beneficial intarest in or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real <br />Property. However, this option shall not be exercised 6y Lender if such exercise is prohibited 6y federal law or by Nebraska law. <br />TAXES AND LIENS. 7he following provisions relating to the taxes and liens on the Property are part of this Deed of 'Trust: <br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including <br />water and sewer►, fines and impvsitions levied against or on account of the Property, and shell pay when due all claims for work dvne <br />on or for services rendered or material furnished to the Property. Trustor shall msintain the Property free of all liens having priority <br />over ar equal to the interest of Lender under this Deed of Trust, except for tha lien of taxes and sssessments not due, except for the <br />Existing Indebtedness referred to below, and except as otherwise provided in this Deed of Trust. <br />Right ta Contest. Trustar may withhold payment of any tax, assessment, ar claim in connection with a good faith dispute over the <br />o6ligation to pay, so long as Lender's interest in the F'roperty 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 �rises or, if a lien is filed, within fifteen (15) days �fter Trustor has notice of the <br />filing, secura the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or <br />other security setisfactory 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 vf a foreclosure vr sale under the lien. In any contest, Trustor shall detend itself and Lendar and shall <br />satisfy any adverse judgment before entorcement against the Property. Trustar shall name Lender' as an additionsl obligee under any <br />surety bond furnished in the contest proceedings. <br />Evidence of Payment. 1"rustor shall upon demand furnish to Lender satisfactory evidence af payment of the taxes or assessments and <br />shall authorize the apprapriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments <br />against the Proparty. <br />Natice of Construction. Trustor shall notify Lender at least fiftesn (15) days before any wark is commenced, eny services are <br />furnished, or eny materials aK���apqlied to the Prbperty, +� any mashanic'saien -�aFetialmen's liefr, pr other lien coukl be asserted-on - <br />account of the work, services, or matarials. Trustor will upan request of Lender furnish to Lendar advance assurances satisfactory to <br />Lender that Trustor can and will pay the cost of such improvemants. <br />PROPERI'Y pAMAGE INSURANCE. The fallnwing provisipns relating ta insuring the Property are a part of this baed af Trust. <br />Maintenance of Insurance. Trustor shall procure 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 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 />reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upvn request of <br />Lender, will deliver to Lender trom time to tima the policies or certificates of insurance in form satisfactory to Lender, including <br />stipulations that coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each <br />insurance policy 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 Property be located in an area designated by the Director of <br />the Faderal Emergency Managament Agency as a special flood hazard area, Trustor agrees to obtain and maintsin Federal Flvod <br />Insurance, if available, for the full unpaid principal 6alance of the loan and any prior liens on the property securing the loan, up to the <br />maximum policy limits set under the National Fload Insurance Program, or as otherwise requirad by Lender, and to maintain such <br />insurance for tha term of the loan. <br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Praperty. Lender may make proof of loss <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 L.ender's <br />efection, receive and retain the proceeds of any insurance and apply the proceeds to the reduction nf 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, Trustor 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 ?rustor from the proceeds for the reasonable cost of repair or restoration if <br />Trustor is not in default under this beed of Trust. Any proceeds which have not been disbursed within 1$0 days after their receipt <br />and which Lender has not committed to the repeir or res#oration of the Property shall �e used first to pay any amount owing to l.ender <br />under this Daed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal 6alance af the <br />Indebtedneas. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as <br />Trustor's interests may appear. <br />Compliance with Existing Indehtadness. puring 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 />insurance provisions under this Deed of Trust, to the extent compliance with the terms of this [7eed of Trust would constitute a <br />duplication of insuranca requirement. If any proceeds from the insurance become payable on loss, the provisions in this Deed of Trust <br />for division of proceeds shall apply only ta that partion of the proceeds nat payable to the holder of the Existing Indebtedness. <br />LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all taxes, iiens, security interests, encumbrances, and other <br />claims, (B) to provide any required insurence on the Proparty, (C) to make repairs to the Property vr to comply with any obligatian to <br />maintain Existing Indabtednexs in good standing es required below, then Lender may do so. If any action or proceeding is commenced that„ <br />would materially affect Lender's interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any actipn that,, <br />Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purpases will then bea� • <br />interest at the rate charged under tha Note from the date incurred or peid by Lender ta the date of repayment by Trustor. All such <br />expenses will become a part of the Inde6tedness and, at Lender's option, will (A) be payable on demand; (B) be added to Che balance of • <br />the Npte and be apportioned among and be peyable with any installment payments to become due during either (1) the term of any <br />appliceble insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payabls <br />at thg Note's maturity. The Deed of Trust also will secure payment of these amounts. Tha rights prnvided for in this paragraph shall be in <br />addition to any other rights or any remedies to which Lender may be entitled on account of any default. Any such action by Lender shall <br />not be construed as curing the default so as to bar Lender from any remedy that it otherwise would heve had. <br />WARRANTY; pEFENSE OF TItLE. The following provisions relating to ownership of the Property are a part of this baed of Trust: <br />Title. 7rustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and clear nf all . <br />