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DEED OF TRUST � O 1 O O S S� 4
<br />(Continued) P��e 2
<br />threatened release occurring prior to 7rustor's ownership ar interest in tha Property, whether or not the same was or should have
<br />been known to Trustor. 7he provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien af this Deed of 7rust and shell not be
<br />affected 6y Lender's acquisition of any interest in the Property, whether hy toreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or p�rmit 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, Trustor 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 prnducts
<br />without Lender's prior written consant.
<br />Removal of Improvements. Trustor shall nnt demolish or remove any Improvements from the Real Property without Lendar's prior
<br />written consent. As a condition to the removal of arry Improvements, Lender may require Trustar to make arrangements satisfactory
<br />[o Lender to replace such Improvements with Improvements of at least equal value.
<br />Lender's Right to �nter. 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 af Trustor's compliance with the terms and conditions of
<br />this beed of Trust.
<br />Compliance with Govarnmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmental authorities applicable to [he use or occupancy af the Property, including without limitation, the
<br />Americans With Disabilities Act. 7rustor may contest in goad faith any such law, ordinance, or regulation and withhold compliance
<br />during any proceeding, including appropriate appeals, so long as Trustor has notified Lender in writing prior to doing so and so long as,
<br />in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may raquire Trustor to post adequate security
<br />or a surety bond, reasonably satisfactory to Lender, ta protect Lender's interest.
<br />Duty ta 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 of the Property are reasonably necessary to prntect and
<br />preserve the Property.
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, daclare immediately due and payable all sums secured by this
<br />Deed of Trust upon the sale or [ransfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest in the
<br />Rea� Property. A"sale or transfer" means the conveyance of Real Property pr any right, title or interest in the Real Property; whether legal,
<br />beneficial or equitable; whether voluntary or involun[ary; whether 6y outright sale, deed, installment sale contract, land contract, contracS
<br />for deed, leasehold interest with a term greater than three (3) years, lease-option contract, or by sale, assignment, or transfar of any
<br />beneficial interest 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. If any Trustor 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 s[ock, par#nership interests or limited liability company interests, as the case may be, of such
<br />Trustor. 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 ihe Property are part of this Deed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior tn delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewerl, fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done
<br />on or for services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority
<br />over or equal to tha interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not dua and except as
<br />otherwise provided in this Peed of Trust.
<br />Right to Contest. 7rustor may withhold payment of any tax, assessment, ar claim in connection with a good faith dispute aver the
<br />obligatian to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed ss a result of nonpayment,
<br />Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (75) days after Trustor has notice of the
<br />filing, secure the discharge of the lien, or if requestad by Lender, deposit with Lender cash or a sufficient corporate surety bond or
<br />other security satisfactory to Lender in an ampunt sufficient to discharge the lien plus any costs and attorneys' fees, ar other charges
<br />that could accrue as a result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall
<br />satisfy eny adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee under any
<br />surety bond furnished in the contest proceedings.
<br />Evidance of Payment. Trustor shall upnn demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and
<br />shall authorize the appropriate governmental official to deliver ta Lender at any time a written statcament of the taxes and assessments
<br />against the Property.
<br />Notice af Cans#ruction. Trustor shall notify Lender at least fifteen (15) days before any work is commenced, any services are
<br />furnished, ar any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on
<br />account of the wark, services, or materials. 7rustor will upon request of Lander furnish to Lender advance assurances satisfectory to
<br />Lender that Trustar can and will psy the cost nf such imprpvements.
<br />PROPERTY 17pMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage
<br />endorsements on a replacement 6asis for the tull insurable value covering all Improvements on the Real Property in an amount
<br />sufficient to avoid epplication of any coinsurence clause, and with a standard mortgagee clause in favor of Lender. Trustor shall also
<br />procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and
<br />Lander being named as additional insureds in such liability insurance policies. Additionelly, Trustor shall maintain such ather
<br />insurance, including but nat limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies
<br />shall be written in form, amounts, coverages and basis reasonably acceptahle to Lender and issued by a company or companies
<br />reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to tima the policies or certificates
<br />of insurance in form satisfactory to Lender, including stipulatians that coverages will not be cancelled nr diminished without at least
<br />thirty (30) days prior written notice to Lender. Each insurance policy also shall include an endorsement praviding that coverage in
<br />favor of Lender will not 6e impaired in any way by any act, omission or default of Trustor or any ather person. 5hould the Real
<br />Property be located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard
<br />area, Trustor agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that
<br />The Property is located in a special ftood hazard area, for the tull unpaid principal balance of the loan and any prior liens on the
<br />property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required
<br />6y Lender, and to maintain such insurance for the term of the Ioan.
<br />Application of Proceeds. Trustor shall prnmptly nptify Lender of any loss or damage to the Property. Lender may make proof of loss
<br />if Trustor fails to do so within fifteen (15) days of the casualty. Whether ar nnt Lender's security is impaired, Lender 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 tha Property, or the restoration and repair of the Property. If Lender elects to apply tha proceeds to restoration and
<br />repair, Trus#or shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactary proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost o# repair or restoration if
<br />Trustor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within" 180 days after their receipt
<br />and which Lender has not committed to the repair or restaration of the Property shall ba used first to pay any amount owing to Lander
<br />under this Deed af Trust, then to pay accrued interest, and ihe remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such prnceeds shall he paid to Trustor as
<br />Trustor's interests may appear.
<br />7rustor's Report on Insurance. Upon request af Lender, however not more than once a year, Trustor shatl furniah to 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 She policy; (4)
<br />the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the
<br />expiration date of the policy. 7rustor shall, upon request of Lender, have an independsnt appraiser satisfactory to Lender determine
<br />the cash value replacement cost of the Praperty.
<br />LENDEfi'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if
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