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DEED OF TRUST 2 p 11 U 3 S 8 8
<br />(Continued) Page 2
<br />breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by Lender's acquisition of any interest in the Properfy, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any strfpping of or waste on
<br />or to the Properry or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender`s prior written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal of any Improvements,.l.ender may require Trustor to make anangements satisfactory
<br />to Lender to replace such Improvements with Improvements of at leasf equal va(ue.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon Yhe Real Pro�erty at all reasonahle times to
<br />attend to Lender's interests and to inspect the Real Properly for purposes of Trustor's compliance with the terms and cbnditions of
<br />this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all govemmental authorities applicable to the use or occupancy of the Property. Trustor may contest in good
<br />faith any such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as
<br />Trustor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are
<br />not jeopardized. lender may require Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect
<br />Lender's interest.
<br />Duty to Protect. Trustor agrees neither to abandon or leave unattended the Properly. Trustor shall do all other acts, in add(tion to
<br />those acts set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and
<br />preserve the Property.
<br />DUE ON SALE - CONSEN7 BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this
<br />Deed of Trust upon the sale or transfer, without Lender's prior writfen consent, of atl 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 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 transfer of any
<br />beneflcial 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. 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 Property are part of th(s Deed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) al( taxes, special taxes, assessments, charges (including
<br />water and sewerj, fines and impositions levied against or on account of the Property, 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 th(s Deed of Trust, except for the lien of taxes and assessments not due, except for the
<br />Existing Indebtedness referred to below, and except as 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 (s fi(ed as a result of nonpayment,
<br />Trustor shall within flfteen (15) days after the Ilen arises or, if a lien is filed, within fifteen (95) days after Tnistor has notice of the
<br />filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate,surety„bond or
<br />other security satisfa�tory to Lentler in an amount sufficient to discharge fhe lien pius any costs and atfomeys' 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 enforcerrient against the Property. Trustor shall name Lender as an additional obligee under any
<br />surety bond fumished in the contest proceedings.
<br />Evidence of Payment. Trusfor shaf( upon demand fumish to Lender satisfactory evidence of payment of the taxes or assessments and
<br />shall authoriae the appropriate govemmental 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 before any work is commenced, any services are
<br />fumished, 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 fumish to Lender advance assurances satisfactory to
<br />Lender that Trustor can and will pay the cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The fol(owing 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 replacement basis for the fuli insurable value covering all Improvements on the Real Property in an amount
<br />sufficient to avoid application of any coinsurance ciause, and with a standard mortgagee clause in favor of Lender, together with such
<br />other hazard and ItabiHty insurance as Lender may reasonably require. Pollcies shall be written in form, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of
<br />Lender, will deliver to Lender from time to time the po(icies or certificates of insurance in form satisfactory to Lender, including
<br />stipulations that coverages will not be cancelled or diminished without at least ten (10) days p�for written notice to Lender. Each
<br />insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any
<br />act, omiss(on or defau(t of Trustor or any other person. Should the Real Property be located in an area designated by the Director of
<br />the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees to obtain and maintain Federal Flood
<br />Insurance, if available, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the
<br />maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such
<br />insurance for the term of the loan.
<br />Application of Proceeds. Trustor shali 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 securfty is impaired, l.ender may, at Lender's
<br />election, receive and r�tain the proceeds of any in�urance and applya:the-proeQeds #q the fedactfor� s3#.tha I�btedness �+ient of
<br />any Iien affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds to resto�tion and
<br />repair, Trustor sha(I repair or replace the damaged or destroyed lmprovements in a manner satisfaetory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonabie cost of repair or restoration if
<br />Trustor is not in default under this Deed of Trust. Any proceeds which have nof 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 principai balance of the
<br />Indebtedness. If Lender holds any proceeds affer payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustor's interests may appear.
<br />Compliance with Facisting Indebtedness. During the peHod in which any Existing Indebtedness descHbed below is in effect, compliance
<br />with the insurance provisions contained in the instrument evidencing such Existing Indebtedness shall constitute comp(fance with the
<br />insurance provisions under this Deed of Trust, to the extent compliance wlth the terms of this Deed of Trust would constitute a
<br />duplication of insurance requirement. If any proceeds ftom the insurance become payable on loss, the provisions in this Deed of Trust
<br />for division of proceeds shall apply only to that portion of the proceeds not payable to the holder of tha Existirtg Indebtedness.
<br />LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Properly free of all taxes, liens, security interests, ancumbrances, and other
<br />claims, (B) to provide any required insurance on the Property, (C) to make repairs to the Propetty or to comply with 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 ri�aterial(y affect Lender's interests in the Property, then Lender on TrustoYs behalf may, but is not required to, take any action that
<br />Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear
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