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GI1�
<br />20110401�
<br />- DEED OF TRUST
<br />= Loan IVo: 373051715 (Contlnued)
<br />Page 2
<br />shall use, generate, manufacYUre, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />� ordinances, i�cluding without limitation all �nvironmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />— to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />— with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />� warranties contained herein are based on Trustor's due diligence in investigating the Properry for Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />- cleanup or other costs undar any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all
<br />— claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<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, whethe� 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 indemnifiy and defend, shall
<br />- survive the payment of the lndebtedness and the satisfaction and reconveyance of ihe lien of this Deed of Trust and shall not be
<br />,:?� affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />__ IVuisance, Waste. 7rustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any portion of Yhe Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />-- any other pany 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 Improv�ments. Trustor shall not demolish or remove any Improvements from the Real Property without Lendar's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
<br />to Lender to replace such improvements with lmprovements of at least equal value.
<br />Lender"s Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to
<br />attend to Lender's interests and to inspect the Real Property for purposes of Trustor's compliance with the terms and conditions of
<br />this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor sha{I promptty comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmental 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 compiiance 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 i� the Property are
<br />not jeopardized. Lender may raquire 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 Property. Trustor shall do all other acts, in addition 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 />ConstructTon 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 Improvements on the Property, the Improvements shall pe completed no later than the maturity date of the Note
<br />(or such earlier date as Lender may reasonably establishl 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 necassary to insure that
<br />the interest created by this Deed of Trust shatl have priority over all possible liens, including those of material suppliers and workmen.
<br />Lender may require, among other things, that disbursement requests be supported by receipted bilis, expense affidavits, waivers of
<br />liens, construction progress reports, and such other documentation as Lender may reasonably request.
<br />DUE 0�11 SALE - CONSENT BY LENDER. Lender may, aC 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 written consent, of all or any part of tha 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, instaliment sale contract, land contract, contract
<br />for deed, leasehold interest with a tarm greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any
<br />beneficial interest in or to any land trust hoiding title to the Real Property, or by any other method of conveyance of an interest in the Real
<br />Property. Nowever, this opYion 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 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), fines and impositions levied against or on account of the Property, and shall pay when due all claims tor work done
<br />- on or for services rendered or material furnished to the Property. Trustor shal! maintain the Property free of aii liens having priority
<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 ctaim in connection with a good faith dispute over the
<br />obligation to pay, so long as Lender's interest in the Properiy is not jeopardized. If a lien a�ises or is tiled as a result of nonpayment,
<br />Trustor shall within fifteen (15) deys after the lien arises or, if a lien is filed, within fifteen (151 days after Trustor 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 satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of a toreclosure or sale under the lien. In any contast, Trustor shall defend itseif and Lender and shall
<br />satisfy any adverse judgment before enforcement against the Property. Trustor shalt name Lender as an additional obligee under any
<br />surety bond furnished in the contest proceedings.
<br />Evidence of P�yment. 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 fiftean (15) days before any work is commenced, any services are
<br />furnished, or any materials are supplied to the ProperCy, if any meahanic'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 cen and wi11 pay the cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenence of Insurance. Trustor shall procure and maintain policies of fira insurance with standard extended coverage
<br />endorsements on a replacement basis for the full insurable value covering all improvements on the Real Property in an amount
<br />sufficient to avaid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such
<br />other hazard and liability insurance as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued by a company or companies reasonably ac�eptable to Lender. Trustor, upon request of
<br />Lender, will deliver to Lender from time to time the policies or certiticates of insurance in form satisfacCOry to Lender, including
<br />stipulations that coverages will not be cancelled or diminished without at least ten (90) days prior 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, omission or default of Trustor or any other parson. Should the Reai Property be located in an area designated by the Director of
<br />the Federal Emergency Management Agency as a special filood hazard area, Trustor agrees to obtain and maintain Federal Flood
<br />Insuranca, if available, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to tha
<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 shall promptly notify Lender ofi 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 rastoration and repair of the ProperCy. If Lender elects to apply the proceeds to restoration and
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