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DEED OF TRUST
<br />Loan No: 90123733$ (Continued) 2 01 U Q 9 6 9 4 Page 3
<br />thase acts set forth above in this section, which trom the character and use of the Property are reasonably necessary to protect and
<br />preserve the Property.
<br />Cqnstruction Loan. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construct or complete
<br />construction of any Improvemants on the Praperty, the Improvements shall be cnmpleted no later than the maturity date of the Note
<br />(or such earller date as Lender may reasonably establish) and Trustor shall pay in full all costs and experrses in connection with the -- -
<br />work. Lender will disburse loan proceeds under such terms and conditions as Lender may deam reasonably necessary tn insure that
<br />the interest created by this Deed of Trust shall have priority over all passible liens, including those of material 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 nther documentation as Lender may reasonably request.
<br />DUE ON SALE - CONSENT BY I�ENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this
<br />Deed of Trust upvn the sale or transfer, without Lender's prinr written consent, of all or any part of the Real I'roperty, or any intarest 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, land contract, contract
<br />for deed, leasehold interest with a term greater than three (3) years, lease-option contract, ar by 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 conveyance of an interest in the Real
<br />Property. If any Trustor is a corporation, partnership or limited liability campany, transfer also includes any change in ownership of more
<br />than twenty-five percent (25°k) of the voting stock, partnership 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 the Proparty are 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 (induding
<br />water and sewerl, fines and impositions levied against or on account of the Property, and shall pey 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 vf Trust, except for the lien of taxes and assessments not due and except as
<br />otherwise provided in this Deed of Trust.
<br />Right tn 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 fiftaen (15► days after Trustor has notice of the
<br />filing, secure the discharge of the lien, or if requested by Lender, daposit 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, or other charges
<br />that could accrue as a result nt a foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall
<br />satisfy any adverse judgment befqre enfprcement against the Property. Trustor shall name Lender as an additional obligee under any
<br />surety bond furnished in the contest prpceedings.
<br />Evidence of Payment. 7rustor shall uppn demand furnish tp 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 />against the Property.
<br />Notice of Construction. 7rustar shall notify Lender at least fiftesn (15) days before any work is commenced, any services are
<br />furnished, or any materials sre 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 />Lendar that Trustor can and will pay the cost of such improvements.
<br />PRpPERTY DAMAGE 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 ppIICI�S of fire insurance with standard extended 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 camprehensive 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 limited to hazard, business interruption, and boiler 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 cvmpany ar companies reasona6ly
<br />acceptable to Lender. Trustor, upon request vf Lender, will deliver to Lender frpm tima 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 also shall include an endorsement providing that coverag� in favor of Lender will
<br />not be impaired in any way by any act, omission or default of Trustor or any other person. Shvuld the Raal Property be located in an
<br />area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees to
<br />obtain and maintain Federal Flood Insurance, if availa6le, for the full 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 />by Lender, and to maintein such insurance for the term of the loan.
<br />Application of Proceeds. Trustor shell 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 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 of the Indebtedness, payment of
<br />any lien affecting the Property, or the restoration and repair of the Property. If l.ender elscts to apply the prvcaads to restoratinn and
<br />repair, Trustor shall repair or replace the damaged or destrnyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory prppf vf such expenditure, pay or reim6urse Trustor from the proceeds for the reasonable cost of repair or restoration if
<br />Trustor is not in deteult under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt
<br />and which Lender has not commit[ed to the repair or restoration of the Property shall be used first to pay any amount owing ta Lender
<br />under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be appliad to the principal balance of the
<br />Indebtedness. If Lender holds any procaeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />7rustor's interests may appear.
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