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oEEO o� rRUSr 2 Q 1 a 4 9 S 9 0
<br />�.oan No: 101237329 (Continued) Page 3
<br />thbse acts set forth above in this section, which frpm #he character and use of the Property are reasonably necessary to protect and
<br />preserve the Property.
<br />Construction Loan. If some or all of the proceeds of the loan craating the Inde6tedness are to be used to construct or complete
<br />construction of any Improvements on the Property, the Improvements shall be completed no later than the maturity date of the Note
<br />(pr such esrlier date as Lender may reasonably establish) snd Trustor shall 'pay in full all costs and expenses in connection with the
<br />work. Lender will disburse Ioan proceeds under such terms and conditions as Lender may deem reasonably necessary to insure that
<br />the interest created by this ❑eed of Trust shell have pribrity over all pqssible liens, including those of ineterial suppliers and workmen.
<br />Lender may require, among other things, that disbursement requests be supported by receipted bills, expense affidavits, waivers of
<br />liens, construction progress reports, and such other documentation as Lender may reasonably request.
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's optinn, 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 Property, or any interest in the
<br />Real Property. A"sale or transfer" means the conveyance of Real Property or any right, title or in[erest in the Real Property; whether legal,
<br />beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract
<br />for deed, leasehold interest with a term greater than thres (3) years, lease-option contract, or by sale, assignment, or transfer of any
<br />beneficial intarest in or tp any lend trust holding title ta the Raal Prpperty, 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 stock, partnership interests or limited lia6ility company interests, as the case may be, of such
<br />7rustor. Hawever, this option shsll not be exercised by l.ender 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 the Property ere 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 impositions levied against or nn account of the Prvperty, 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 the interest of Lender under this Deed of Trust, except far the lien of taxes and assessments not due and except as
<br />otherwise provided in this Deed of Trust.
<br />Right ta 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 Prnperty is not jeapardized. If a lien arises vr is filed as a result vf nonpayment,
<br />Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fiftean (15) days after Trustor has notice ofi the
<br />filing, secure the discharge of the lien, ar if requested 6y Lender, deposit with Lender cash or a sufficient corporate surety 6ond or
<br />other security satisfactory to Lender in an amount sufticient to discharge the lien plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of a fareclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall
<br />satisfy any adverse judgment befo�e enforcement against the Property. Trustor shall name Lender as an additional obligee under any
<br />surety bond furnished in the contest proceedings.
<br />�vidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and
<br />shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments
<br />again5t the I'rnpF�rty.
<br />Notice of Construction. Trustor shall notity Lender at least fifteen �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 imprpvements.
<br />PRpPERTY DAMAGE INSURANC�. 7he 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 qf fire insurance with standard sxtended coverage
<br />endorsements on a fair value basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient
<br />to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Trustor shall also procure
<br />and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender
<br />being named as additional insureds in such liability insurance policies. Additionally, Trustor shall maintain such other insurance,
<br />including but not limitad ta hazard, business interruption, and hoiler insurance, as Lender may reasonably require. Policies shall be
<br />written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies raasanably
<br />acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurance
<br />in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least ten (10) days
<br />prior written notice to Lender. Each insurance policy alsp shall include an endorsement providing that coverage in favor of Lender will
<br />not be impaired in any way by any act, omission or default of Trustor or any other person. Should the Real Property be located in an
<br />area designated by the Director of the Federal Emergency Management Agency as e special flood hazard erea, Trustor agrees to
<br />obtain and maintain Federal Flood Insurance, if available, for the full unpaid principel 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 />by LBnder, and ta maintain such insur8nce for the term of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss
<br />if Trustor fails to do so within fiftaen (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 tha proceeds to the reduction of the Indebtedness, payment of
<br />any lien affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the praceeds to restorativn 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 af such expenditure, pay or reimburse 7rustor from the proceeds for the reasonable cost of repair or restoration if
<br />Trustor is not in default under this Deed pf 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 restoration of the Property shall pe used first to pay any amount owing to Lender
<br />under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance af the
<br />Indebtedness. 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.
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