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DEED OF TRUST 2 o i o a 9 s� o
<br />Loan No: 901237329 (COI1tIt1U�d) Page 2
<br />DAT� H�REWITH. ANY �VENT pF DEFAULT UNDER THE CONSTRUCTION LbAN AGR�EM�N7, QR ANY OF THE RELATED DOCUMENl'S
<br />R�F�RRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEEb QF TRUST. THIS DEED OF TRUST IS GIVEN AND
<br />ACCEPTED ON THE FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of 7rust is executed at Borrower's request and
<br />not at the request of Lender; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust 9nd to hyp(ithecate the
<br />Property; (c) the provisions of this ❑eed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable tv Trustor; (d) Trustor has
<br />established adequate means of obtaining frvm Borrower on a continuing basis information about 8orrower's financial condition; and (e)
<br />Lender has made no rapresentation to Trustor about Borrower (including without limitation the creditworthiness of Borrower►.
<br />TRUSTbR'S WAIVERS. ?'rustar waives all rights or defenses arising by reason of any "one actinn" or "anti-deficiency" law, or any ather
<br />law which may prevent Lender from bringing any action against 7rustor, including a claim for deficiency to the extent Lander is otherwise
<br />entitlad ta a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />PAYM�NT AND PERFQRMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to Lender all
<br />Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective
<br />obliga#ions under the Note, this Deed of Trust, and the Related Documents.
<br />CQNSTRUCTI�N MORTGAGE. This Deed of Trust is a"construction mortgege" for the purposes of 5ections 9-334 and 2A-309 of the
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE qF THE PROPERTY. Borrower and Trustor agree that Barrower's and Trustor's possession and use of
<br />the Property shall be governed by the fallowing provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, 7rustor may (1► remain in possession and control of the Property;
<br />(2) use, aperate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental L.aws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatmant, dispasal, release or threatened release of any
<br />Mazardous Substance by any parson on, under, a6out or from the Property; (2) Trustar has no knowledge of, or reason to beli�ve
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violatian of any
<br />Environmental l.aws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Suhstance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation nr claims of any kind by any person relating to such matters; and (3) Except as previnusly disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenent, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, stora, traat, dispnse of or release any Mazardous Substence on, under, about or from [he Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Praperty
<br />to make such inspections and tests, a[ Trustor's expense, as Lender may deem appropriate to determine compliance af 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 />cqnstrued to create any responsibility or liability on the part of Lender to Trustor or to any other persan. The representations and
<br />warranties contained herein are based on Trustar's due diligence in investigating the Property far Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all
<br />claims, Iosses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section nf the Deed 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 or not the same was or should have
<br />been known to Trustor, The provisions of this section of the �eed 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 ot this Deed of Trust and shall not be
<br />affected by Lendar's acquisitian bf any interest in the Property, whethsr by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Proper#y 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 vil and gas�, coal, clay, scoria, soil, gravel or roCk prpducts
<br />without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without L.ender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Trustor to make srrangements satisfactory
<br />to Lander to replace such Improvements with Improvements af at least equal value.
<br />l.ender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to
<br />attend to Lender's interests and to inspect the Real Property for purposes of Trustor's compliance with the terms and cpnditions 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 or occupancy af the Property, including without limitation, the
<br />Americans With Disabilities 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 Trustor has notified Lender in writing prior to doing sa and so long as,
<br />in Lender's sole opinion, Lender's interests in the Proper#y are not jeopardized. Lender may require 7rustor ta past adequate security
<br />or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest.
<br />buty tv Protect. Trustar agrees neither to abandon or leave unattended the Property. Trustor shall do all other acts, in addition to
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