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Loan No: 101237797
<br />DEED OF TRUST �� i i� O��: �
<br />(Continued) Page 3
<br />Property. However, this option shall not be exercised by Lender if such exercise is prohibited 6y federal law or by Nebraska law.
<br />TAXES AND LIEIVS. The following provisions ralating to the taxes and lisns vn the Property are pari 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 />wa[er and sewer), fines and impositions levied against or on accvunt of the Property, and shall pay when due all claims for work done
<br />on or for services rendered or materisl furnished to the Property. Trustor shall maintain the Property free of all liens having priarity
<br />over or equal to 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 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 fiftesn (15) days after Trustnr hes notice of the
<br />filing, secure the discharge of the lien, or if requested by Lender, deposit with Lsnder cash or e sufficient corporate surety bond or
<br />other security satisfactory to Lender in an amount sufficient to discharge the lien plus eny costs and attorneys' fees, or other charges
<br />that could accrue as a result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall
<br />satisfy any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee under any
<br />surety band furnished in the contest proceedings.
<br />Euidence 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 />against the Property.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) days 6efore any work is commenced, any services are
<br />furnished, or any materials are supplisd ta 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 7rustor can and will pay the cost of such improvements.
<br />PROPERTY pAMAGE INSURAIVCE. 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 policies 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 Praperty in an amount sufficient
<br />to avoid application of any coinsurance clause, and with a standard mortgagee clause in favar 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 />6eing named as additional insureds in such liability insurance policies. Additionally, 7rustor shall maintain such other insurance,
<br />including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall 6e
<br />written in form, amounts, coverages and basis reasonably acceptable ta Lender snd issued by a company ar companies reasnna6ly
<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 stipulatipns that cnverages will not be cancelled or diminished without at least ten (101 days
<br />prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will
<br />not 6e impaired in any way 6y any act, omission or default of Trustor or any other person, 5hould 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, 7rustor agrees to
<br />obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of the Ioan 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 maintain such insurance 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 ot loss
<br />if Trustor fails to do so within fifteen (1 5) 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 restaration and repair of the Property. If Lender elects to apply the proceeds to restoration and
<br />repair, Trustor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactvey 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 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 �alance of the
<br />Indebtedness. If l.ender holds any proceeds after payment in full pf the Indebtedn�ss, such proceeds shall be paid to Trustor as
<br />Trustor's interests may appear.
<br />Trustor's Report on Insurance. Upon request of Lender, however not mpre than once a year, Trustor shall furnish to Lender a report
<br />on each existing policy of insurance showing: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy; (4)
<br />the property insured, the then current replacement value nf such prnperty, and the manner of determining that value; and (5) the
<br />expiration date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine
<br />the cash value replacement cost of the Property.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if
<br />Trustor feils to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Trustor's failure to
<br />discharge or pay when due any amounts Trustor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender
<br />on Trustor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to
<br />discharging or paying all taxes, liens, security interests, encumbrancas and other claims, at any time levied or placed on the Property and
<br />paying all cos#s for insuring, maintaining and preserving the Prnperty. All such expenditures incurred or paid by Lender for such purposes
<br />will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All
<br />such expenses will 6ecome a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (�) be added to the
<br />balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1 � the term of
<br />any applicable insurance policy; or (21 the remaining term of the Note; or (C) be treated as a balloon payment which will be due and
<br />payable at the Note's maturity. 7he beed of 7rust also will secure payment of these amounts. Such right shall be in addition to all other
<br />rights and remedies to which Lender may be entitled upan Default.
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