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Loan No: 808404 �( Q°;;,u�� � 2 fl i 1019 2 9 P 2
<br />written consent. As a condition 10 the removal of any Improvements, Lender may require Trustor to make arrangernents salisfactory
<br />to Lender to replace sur,h Improvements wikh Improvements c�f at least equal value.
<br />Lender's Right to Enter. Lender and Lender's agenls and representatives may enter upon the Real Property ak all reasonahle tirnes to
<br />attend to Lender's interests and to inspect the Real Properiy for ��urposes of Trustor's complianre with the terms and conditions oF
<br />this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor shall promptly camply wi[h all laws, ordinances, and reyulations, now or
<br />hereafter in effect, of all governmental authorities applicable to tlie use or or,cupancy of the Properry. Trustor may contest in good
<br />faith any such law, ordinance, or reyulation and withhold cornpliance d�iring any proc�:eding, inciuding appropriate appeals, so long as
<br />Trustor has notified Lender in writing rrior to doing so and so fong as, in lender's sole opinion, Lender's interests in the Property are
<br />not jeopardized. Lender may require Trustor to post adequafe secur�ity or a surety bond, reasonably satisfacYory tq Lender, to protect
<br />Lender's interest.
<br />Duty to Protect. Trustor agrees neither to abandon or leave unattencled ihe Propearty. Trustar shali do all other acts, in addition to
<br />those acts set forth above in this section, which from the character and use of tiie Property are reasonably necessary to pratect and
<br />preserve the Property.
<br />DUE QN SALE - CONSENT BY l_ENDER. Lender may, at Lender's option, dedare iminediately c)ue and payable all sums secured by this
<br />Deed of Trust upon the sale or transfer, without Lender's �irio� written consent, of ali or any part of the fieal Pro��erty, or any inlerest in ihe
<br />Real Property. A"sale or transier" means the conveyance oi Real Property or any right, title or inkerest in lhe Real Property; whether legai,
<br />beneficial or equitable; whether voliantery or involuntary; whether by outriyht sale, deed, ii�staliment sale contract, land contract, contract
<br />for deed, leasehold interest with a tenn yreater than three (3) years, lease option contract, or by sale, assignrnent, or transfer of any
<br />beneficial interest in or to any land irust hoiding tii:le to the Real Property, or by am� other method of conveyance of an interest in the Reai
<br />Property. However, this option shall not be exerciced by Lender if such exercise is prohibi[ed by Federal law or hy Nebraslca law.
<br />TAXES AND LIENS. The followiny provisions relating to the taxes and lieris on the Property are parY of this Deed of 1'rus[:
<br />Payment. Trustor shail pay when due (and in all events prior to delinquency) all faxes, special taxes, assessments, charges (includiny
<br />water and sewer�, fines and impositions levied against or on account of the Property, and shall pay when due ali claims for work done
<br />on or for services rendered �r material furnished to the Property. l7ustor shall rnain(ain the P'ro��erty free of all liens having priority
<br />over or equal to the interest of Lender under this Deed of �Trust, except for the lien af taxes and assessments not due, except for the
<br />Existing Indebtedness referred to below, and exce�t as otherwise provided in lhis Deed of Trust.
<br />Right to Contest. 7rustor rnay withhold payrnent of any tax, assessment, or claim in conr�ection with a yood faith dispute over the
<br />obligation to pay, so long as Lender's interest in the Pro�-�erty is not jeopardized. If a lien arises or is iiled as a result oF nonpayrnent,
<br />Trustor shall within litteen (15) days after the lier� arises or, i( a lien is filed, within fifteen f 15) days alter Trustor has noiice of the
<br />filing, secure the discharge of the lien, or if requesteci by l.ender, deposit with Lender cash or a sufficient corporate surety bond or
<br />other security satisfactory to Lender in an arnount sutfir,ient to discharye the lien plus any costs and atYorneys' fees, or vther charyes
<br />that could ar.crue as a result of a foreclosure or sale under the lien. In any r,ontest, 7rustor' shall defend itself and I_er�der and shail
<br />satisfy any adverse judgment before enForcement a,yainst ttie Property. Trustor stiall name Lender as an additional ol�ligee under any
<br />surety bond furnished in the r.ontest proc.eedings.
<br />Evidence of Payment. Trustor shall upun c�emand furnish ta Lender satisfactory evidence of payrnent o� the taxes o� assessments and
<br />shall authorize the appropriate governmental official to deliver to Lender at any iime a wricten statement of ihe taxes and assessments
<br />ayainst the Property.
<br />Notice of Construction. Trustor shall notify Lender at least fif[een (15) days betore any work is comrnenced, any services are
<br />furnished, or any materials are suppiied to the Property, if any mechanic's fien, m�terialmen's lien, or other lien could be asserted on
<br />account of the work, services, or materials. Trustor will i-ipon request of Lender Furnish to Lender advance assurances satisfactory to
<br />Lender that Trustor can and will pay the cost of such irnprovenients.
<br />PROPERTY DAMAGE INSURANCE. The Followiny provisions relating to insuring the Property are a p�rt of this L)eed of Trust.
<br />Maintenance of Insur�nce. Trustor shaii procure and rriaintain policies of fire insurance with standard extended couerage
<br />endorsements on a reptacement basis for the full insurable value r.overiny all hnrrovernertts on the Real Proper[y in an arnouni
<br />sufficient to avoid application of any coinsurance clause, and with a standarcl mortgaqee clause in (avor of Lender, toyether with such
<br />other hazard and liability insurance as Lender may reasonably require. F'ofiries shall be writt:en in torm, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued by a company or companies reasonably ar,ceptable to Lnnder. Trusior, upon request of
<br />Lender, will deliver to Lender from time to time the policies or certificates of insurance in foriYi satisfaciory to Lender, induciing
<br />stipulations ihat coverages wiil not be cancelled or ciiminished without at least ten (10) days prior written notice to i_ender. Each
<br />insurance policy also shall indude an endorsement providin,y that coverage in favor of Lencter will not be impaired in any way by any
<br />act, omission or default of Trustor or any other person. Should the Real Property be located in an area designated by the Director oi
<br />the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees to oUtain �nd maintain Federal Flood
<br />Insurance, if available, for the fuli unpaid �rincipal balance of the loan and any prior liens on the property securing �the lo�n, up to The
<br />maximum policy limits set under the National f lood insurarice Prograin, or as otherwise required by Lender, and i:o maintain such
<br />insurance for the term of the loan.
<br />Application of Proceeds. "Truslar shall promptly notify Lencier ot any loss or damage to lhe Property. L.erider rnay rnai<e proof of loss
<br />if Trustor fails to do so within fifteen (15) days of tlie casualty. Whether or not Lender's securit:y is irnpaired, Lender m�y, at �ender's
<br />elecYion, receive and retain the proceeds oF any ir�surance and apply the proceeds to the r�duction of the Indebteclness, payment of
<br />any lien affecting the Property, or the restoration and repair of tt�e ProE�erty. IF Lender elect.s to apply the pr'oceeds to restoration and
<br />repair, Trustor shal! repair or replace the damaged or ciestroyed irnprovements in a rnanner satisfactory Yo Lender. Len�ler shaii, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor frorn tf�ie proce��is for the r�asonable eost of re�air or restoration if
<br />Trustor is not in defoult under this Ueed of Trust. Any proceeds which have not been disbur�sed within 180 days after their recei�t
<br />and which Lender has not committed to the repair or restoration vf the Property shaii be used first to pay any amoiint owing to Lender
<br />under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be a�aplied to the principal balance of the
<br />Indebtedness. If Lender holds any proceeds affer payn�erst in full of the Inde�tedness, such proceeds siiall be paid to Trustor as
<br />Trustor's interests may appear.
<br />Compliance with Existing Indebtedness. During the period in which any Fxisting In�iebtedness described below is in ef(er,t, compliance
<br />with the insurance provisions contained in the instrument evidenci�,y such L=xisiing Inclebtedness shail con ,titute .r,ornpliance with lhe
<br />insurance provisions under ttiis Deed of Tnast, to the extent rompiianr,e with the terms of fhis Ueed of Trust would constitute a
<br />duplication of insurance requirement. If any proceeds from tiie insurance become payable un loss, the provisions in this Deed of Trust
<br />for division of proceeds shail appty only to ttiat portion of tlie proceeds not payable to the I�older of ihe Existing Indebtedness.
<br />LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Pro��e�rty iree uf all taxes, liens, security interests, encumbrances, and other
<br />claims, (B) to provide any required insuranr,e on the Property, (Cl to malce repairs lo the Property or to comply wich any obligation to
<br />maintain Existing Indebtedness in good standing as required below, then Lender may do so. If any action or proceeding is commenced that
<br />would materially affect Lender's in[erests in the Property, then Lender on l rustor's ueiialf may, but is not required to, take any action that
<br />Lender believes to be appropriate t0 prote,ct Lender's interests, All expenses incurred or ��aid by �ender for such purposes will then bear
<br />interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All such
<br />expenses will become a part of the Indebtedness and, at Lender's optio�, will (�) be payable on demand; (f3) be added to the halance of
<br />the Note and be apportioned 2mong and be payable with any installment payments to become due during either (1� the term of any
<br />applicabls insuranr,e policy; or (?) the remaining term of tPie Note; or (C) be treated as a balloon payment �vhich wiil t1e ciue and payable
<br />at the Note's maturity. The Deed oF �frust also will secure payrnent of ihese amounts. The rights provided for in this paragraph sha8 be in
<br />addition to any other rights or any remedies to whir,h Lender may be entit(ed on account of any def�ult. F�ny such action by Lender shall
<br />not be construed as curing the default so as to bar Lender irom any rernedy tf�at it otherwi>e would have had.
<br />WARRANTY; DEFENSE OF TITLE. The follovvinq provisions relatiny to ownership of the Property are a part of this Geed of TrusL•
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable tiUe of record to the Properly iri fee simpie, free and clear of all
<br />liens and encumbrances other than those set forth in the Real Property description or in the Existin4 Indebtedness secUon 6elow or in
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