|
2oioo92i�
<br />DEED OF TRUST
<br />(Continued)
<br />Page 2
<br />to make such inspections .and tests, at Trustor's expense, as Lender may deem appropriate ta determine compliance of the Property
<br />with this sec4ion of the Deed bf Trust. Any inspectlons or tests made by Lender shall be far Lender's purposes only and shall not be
<br />construed to create any responsibility ar Ilability an the part of Lender to Trustor or to any pther person. The representations and
<br />warrantles contained herein are based on Trustor's due dlligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contributian in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees ta indemnify, defend, and hold harmless Lender against any and afi
<br />clsims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section nf the peed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property, whether ar not the same was or should have
<br />been known to Trustor. The provisions of this sectlon pf the Deed of Trust, including the oblfgatipn to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance af the lien of this Deed of Trust and shall not be
<br />affectad by Lender's acquisition of any interest in the Property, whether by foreclosure ar othervvise.
<br />Nuisanca, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping pf pr waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor wlll not remove, or grant to
<br />any ather party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, qravel or rock products
<br />without Lender's priar written cansent. • ' '
<br />Removal of Imprpvementa. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written 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 />Lander's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Properry at all reasonable times to
<br />attend to Lender's interests and to inspect the Real Property for purposes of trustar's compliance with the terms and conditipns of
<br />this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmental authorities applicable to the use nr occupancy of the Property. Trustor may contest in good
<br />faith any such law, ordinanne, or regulation and withhold campliance during any proceeding, inqluding appropriate appeals, so long as
<br />7rustor has notified Lender in writing prior to doing so and so Iong as, in Lender's sole opinion, Lender's interests in the Property are
<br />not jeopardized. Lender may require Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protact
<br />Lender's interest.
<br />Duty to Prntect. 7rustor agrees neither to abandon or leave unattended the F'roperty. Trustor shall do all nther acts, in addition to
<br />those acts set farkh above in this section, which from the character and use af the Property are reasonably necessary to protect and
<br />preserve the Property.
<br />DUE ON SAL� - CON5ENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this
<br />Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Proparty, 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 voluntary or involuntary; whether by outright sale, deed, installment sale contract, Iand contract, contract
<br />for deed, leasehold interest with a term greater than three (3) years, lease-optian contract, or by sale, assignmsnt, or transfer bf any
<br />beneficial interest in or to any land trust holding title ta 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 by Lender if such exercise is prohibited by federal law or by Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxas 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 dalinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done
<br />on or far services rendered or material fumished to the Property. Trustqr shall maintain the 1'roperty free pf all liens having priority
<br />over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not dua, axcept for the
<br />�xisting Indebtedness referred to belaw, and except as otherwise prpvided in this Deed of Trust.
<br />Right to Contest. Trustor 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 />Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Trustor has notice of the
<br />filing, secure the discharge of the lien, ar 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, qr 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 any 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 />�vldenca of Payment. Trustor shall upon demand fumish to Lender satisfactory evidence of p�yment of the taxes or assessments snd
<br />shall authorize the appropriate gnvernmental official to deliver to Lender at any time a written statement of the taxes and assessments
<br />against the Property.
<br />Notice of Construction. 1"rustor shall notify Lender at least fiftean (15) days before 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 be asserted on
<br />account of the work, services, or materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to
<br />Lender that Trustor can and will pay the cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisipns relating to insuring the Property are a part of this beed of Trust.
<br />Maintenanca of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage
<br />endorsements on a fair value basis for the full insurable value covering all Improvaments on the Real Property in an amount su�cient
<br />to avoid application nf any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such ather
<br />hazard and liability insurance as Lender may reasonably require. Policies shall be written in form, amounts, cnverages and basis
<br />reasonably acceptable to Lender and issued by a company pr companies reasonably acceptable tp Lender. Trustor, upon request pf
<br />l.ender, will deliver to Lender from time tp time the policies or certiflcates pf insurance in form satisfactory to Lander, including
<br />stipulations that coverages will not be cancelled or diminished without at least ten (90) 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 TrustQr or any other person. Should the Real Property be located in an area designated bv the.Director of
<br />� 4tie Federal Emergancy Managemerit Agency as a fl�od hazard area, TruStbr agFees'"to' obtain and rriaintain FBderal" Flood
<br />Insurance, if available, for the maximum amount of 8orrower's credit line and the full unpaid principal balance of 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 />by Lender, and ta maintain such insurance for the term of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage ta khe Prpperty. Lender may make proof nf 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 Lender's
<br />election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction qf the Inde6tedness, payment of
<br />any lien affecting;the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds tp restoration and
<br />repair, Trustor shall repair or replace the damaged or destroyed Imprpvaments in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the prqceeds for the reasonable cost of repair pr restoration if
<br />Trustor is not in default under this Deed of Trust. Any prpcaeds which have not been disbursed within 180 days after their receipt
<br />and which Lender haS not committed to the repair or restoration of the Property shall be used first tn pay any amount owing to Lender
<br />under this beed af Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness. If Lender hplds any proceeds after payment in full pf the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustor's interests may appear.
<br />Compliance with Existing Indebtedness. During the peripd in which any Existing Indebtedness described below is in effect, compliance
<br />with the insurance provisipns 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 beed of Trust wauld constitute a
<br />
|