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DE�D OF TRUST 2 O 10 U 9 G 9 G
<br />Loan No: '101237326 (COntirlu�d) Page 3
<br />those acts set forth above in this section, which from the character and use of the Property are reasona6ly necessary to protect and
<br />preserve the Property.
<br />Construction Loan. If soma or all of the proceeds of the loan creating the Indebtedness are tv be used to construct or complete
<br />canstruction of any Improvements on the Property, the Improvemants shall be cvmpleted no later than the maturity date of the Note
<br />(or such aarlier date as Lender may reasona6ly establish) and Trustor shall pay in full all costs and expenses in connection with the
<br />work. Lender will disburse loan proceeds under such terms and conditions as Lender may deem reasonably necessary to insure that
<br />the interest created by this Peed of Trust shall have priority over all possible liens, including those of material suppliers and workmen.
<br />Lender may require, among vthar things, that disbursem�nt requests be supported by receipted bills, expense affidavits, waivers of
<br />liens, construction prvgress reports, and such other documentation as Lander may reasonably request.
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immedietely 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, ti[le 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, or by sale, assignment, or transfar 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 7rustor is a corppration, partnership pr limited liability company, transfer also includas any change in ownership of mqre
<br />than twenty-five percent (25%) af the voting stock, partnership interests or limited liability campany interests, as the case may be, of such
<br />Trustar. However, this option shell not 6e exercised by Lender if such exercise is prahibited by federal law or by Nebraska law.
<br />TAXES AND LIENS. The following provisions relating ta the taxes and liens on the Property are part af 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►, tines and impositions levied against or pn account of the Property, and shall pay when dua all claims fpr work done
<br />pn or fpr servipes rendered or material furnished to the Property. 7rustpr shall maintain the Property free of ell liens having priority
<br />over or equal to the interest of Lender under this ❑eed 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. 7rustor may withhold payment of any tax, assessment, or claim in connectipn with a gpod fai#h dispute aver 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 />7rustor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Trustor has notice vf the
<br />filing, secure the discharge of the lien, vr if requested by Lender, deposit with Lender cash or a sufficient carpprate suraty bond or
<br />ather security satisfactary to Lend9r in gn amount sufficient to discharge the lien plus any costs and sttarneys' feas, pr pther charges
<br />that could accrue as a result of a fpreclvsure or sale under the lien, In any contest, 7rustor shall d�fend itself and Lender and shall
<br />satisfy any adverse judgment befqre enfqrCement against the Property. Trustor shall name Lender as an additional o6ligee under any
<br />surety bond furnished in the contest proceedings.
<br />Evidence af Payment. Trustor shall uppn demand furnish #o Lender satisfactory evidence of paymen# of the #axes 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 />Netice nf Construction. Trustor shall notity Lender at least fifteen (15) days before any work is commenced, any services are
<br />furnished, pr any materials are supplied to the Property, if any mechenic'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 tollowing provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. 7rustor shall procure and maintain policies of fire insurance with standard extended coverage
<br />endorsements on a fair value basis tpr the full insurable value covering all Improvements on the Real Property in an amount sufficient
<br />ta avpid applicatipn of any coinsurance clause, and with a standard mortgagee clause in favor pf Lender. Trustor shall also prpcure
<br />and maintain comprehensive general liability insurance in such coverege amnunts es 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, covarages and basis reasonably acceptable to L.ender and issued by a company or companies reasonably
<br />acceptable to Lender. Trustor, upon requsst pf Lender, will deliver to Lender frpm time to time the palicies 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) deys
<br />prior written notice to Lender. Each insurance policy also 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 a special flood hazard area, Trustor agrees to
<br />obtain and maintain Federal Fload Insurance, if available, far the full unpaid principal balance af the loan and any priar liens on the
<br />prpparty sacuring the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required
<br />by Lender, and to maintain such insurance for the term of the loan.
<br />Applicatian of Procaeds. Trustor shall promptly notify Lender of any loss or damage tv the Property. Lender may make proof of loss
<br />if Trustnr fails to db so within fifteen (15) days of the cesualty. 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 af the Praperty. If Lender elects to apply the proceeds to restoration and
<br />repair, Trustbr shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of repair or restoration if
<br />Trustor is not in default under this Deed of 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 be used tirst to pay any amount owing to Lender
<br />under this Deed ot Trust, then to pay accrued in[erest, and the remainder, if any, shall be applied [o ihe principal balance of the
<br />Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustar's interests may appBar.
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