|
DEED OF TRUST
<br />Laan No: 10123734� (Co11tIr1U�d) 2 O 1 O� t� ��� Pa9e 2
<br />P055ESSION ANp MAINTENANCE bF THE PiiOPEFi7Y. Borrower and Trustor agree th�t Barrower's and Trustor's possession and use of
<br />the F?roperty shall be governed by the following provisions:
<br />Possessinn and Use. Until the occurrsnce of an Event af Default, Trus#or may (1) remain in passession and control of the Prqperty;
<br />(2) use, operate or manage the Property; and (3) collact the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain ths Property in tenantable condition and promptly perform all repairs, replacements, and
<br />mairtenence necessary ta preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Prnperty, there has been nn use, generation, manufacture, storage, treatment, disppsal, release or threstened release of any
<br />Hazardous Substance by any parson on, under, about or from the Property; (2) Trustar has no knowledge nf, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, la) any breach or violation of any
<br />Environmental Laws, (b) any use, generatinn, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substence on, under, about or from the Property by eny prior owners or occupants of the Property, or Ic) any ectual or
<br />threatenad litigation or claims of any kind by any person ralating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, msnufacture, store, tree#, dispose of or release eny Hezardous Substance on, under, about or from the Proparty;
<br />and (b) sny such activity shall be conducted in compliance with all applicable tederal, state, and local laws, regulations and
<br />ordinences, including without limitation all �nvirnnmantal Laws. Trustor authorizes Lender and its agents to enter upon the f'roperty
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed tn craete any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Mazardnus Su6stances. Trustor
<br />hereby (1) releases and waives eny future claims ageins# Lender far indemnity or contribution in the even# Trustor becomes liable for
<br />cleanup or other costs under any such laws; and 12) agrees to indamnify, defend, and hold hsrmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this sectinn of the Deed of Trust or as a consequence of any use, generation, manufacture, storaga, disposal, release or
<br />threatened release occurring prior to Trustor's ownarship or interest in the Property, whether or not the same was or should have
<br />been known to Trustor. The provisions of this saction of the Deed of Trust, including the obligatipn to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfactian and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by Lender's acquisition of any interest in the Prpperty, whether by foraclpsure or otherwise.
<br />Nuisanca, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, ar suffer any stripping of or waste on
<br />pr to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remave, or grant to
<br />any other party the right to remave, any timber, minerals (including oil and gas), coal, cley, scoria, soil, grsvel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall nnt demolish or remove any Improvements from the Real Property withput Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender msy require Trustor to make arrangements satisfactory
<br />to Lender to raplace such Improvements with Improvements of at least equal value.
<br />Lender's Right ta Enter. Lender and Lender's agents and representatives may enter upon the fieal Property at all reasonable times to
<br />attend to Lender's interests and to inspect the Real Property for purposes af Trustor's compliance with the terms and conditions of
<br />this Deed of Trust.
<br />Compliance with Govemmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in affect, of all governmental authorities applicable to the use or occupency of the Property, including without limitation, the
<br />Americans With �isabilities Act. Trustor may contest in good faith any such law, ordinance, or regulation and withhold compliance
<br />during any proceeding, including appropriate appeals, so long as Trwstor has notified l.ender in writing prior to doing so and so long as,
<br />in Lender's sole apininn, Lender's intarests in the Property are not jeopardized. Lender may require 7rustor tp post adequate security
<br />or a surety bond, reasonably setisfactory to Lender, to prptect Lender's interest.
<br />Duty to Pratect. Trustor agrees neither to abandon or laeve unattended the Property. Trustor shall do ell other acts, in additipn to
<br />those acts set forth above in this section, which frpm the character and use of the Property are reasonably necessary tv protect and
<br />preserve the Property.
<br />DUE ON SAL� • CONSENT BY LENDER. Lender may, et Lender's option, declsre immediately due end payable all sums sacured by this
<br />f]eed of Trust upon the sale vr transfer, without Lender's prior written consent, of all or any part of the Real Property, or eny interest in the
<br />Real Property. A"sale or transfer" means the conveyance of Rsal Property or any right, title or interest in the Real Property; whether Isgel,
<br />beneficial or equitable; whether vpluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract
<br />for deed, leasehald interest with a term greater than three (3) yaars, lease-option contract, or 6y sale, assignment, or transfer of any
<br />beneficial interest in or to any land trust holding title to the Real Property, or by any other method of convayance of an interest in the Real
<br />Property. If any Trustor is a corporation, partnership pr limited liability company, transfer also includes any change in ownership of more
<br />than twenty-five percent (25%) of the voting stpck, partnership interests or limited liability campany interests, as the case may be, of such
<br />Trustor. Howevar, this option shall not be exercised by Lender if such exercise is prphibited by federal law or by Nebraska law.
<br />TAXES AND LIENS. The following pravisions relating ta the taxes and liens on tha Property are part of this �eed of Trust:
<br />Payment. Trustor shall pay when due land in all evants prior to delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewerl, finas and impositions levied against or on account of the Property, and shsll pay when due all claims for work done
<br />on or for services rendered or material furnished to the Property. Trustor shall msintein the Property free of all liens having priority
<br />over or aqusl ta the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as
<br />otherwise provided 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 tn 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 />
|