|
20��o4oJ�
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain gre and extended coverage insurance
<br />isuring the improvements and buildings constituting part of the Trust Estate for an amount no less than
<br />ie amount of the unpaid principal balance of the PVote (co-insurance not exceeding 80% permitted).
<br />uch insurance policy shall contain a standard mortgage clause in favor of Beneficiary and shall not be
<br />ancelable, terminable, or modifiable without ten (10) days prior written notice to Beneficiary. Trustor shall
<br />romptly repair, maintain and replace the Trust Estate or any part thereof so that, except for ordinary wear
<br />nd tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the
<br />rust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE Trustor shall appear in and contest any action or
<br />roceeding purporting to affect the securiry hereof or the rights or powers of Beneficiary or Trustee, and
<br />hall pay all costs and expenses, including cost of evidence of title and attorney's fees, in any such action
<br />r proceeding in which Beneficiary or Trustee may appear. Should Trustor fail to make any payment or to
<br />o any act as and in the manner provided in any of the Loan fnstruments, Beneficiary and/or Trustee,
<br />ach in its own discretion, without obligation, may make or do the same in such manner and to such
<br />xtent as either may deem necessary to protect the security hereof. Trustor shall, immediately upon
<br />emand therefore by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection with
<br />�e exercise by Beneficiary of the foregoing rights, including, wifihout limitation, costs of evidence of title,
<br />�urt costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten
<br />10) days of written demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Esfiafie, or any part thereof or interest therein, be taken
<br />r damaged by reason of any public improvement or condemnation proceeding, or in any other manner
<br />�cluding deed in lieu of Condemnation ("Condemnation"), or should Trustor receive any notice or other
<br />�formation regarding such proceeding, Trustor shall give prompt written notice thereof to Beneficiary.
<br />eneficiary shall be entitled to all compensation awards and other payments or relief therefore, and shall
<br />s entitled to make any compromise or settlement in connection with such taking or damage. All such
<br />�mpensation, awards, damages, rights af action and proceeds awarded to Trustor (the "Proceeds") are
<br />�reby assigned to Beneficiary; and Trustor agrees to execute such further assignments of the Proceeds
<br />s Beneficiary or Trustee may require.
<br />6. APPOINTMENT OF SUCCESSOR TRUSTEE Beneficiary may, from time to time, by a
<br />ritten instrument executed and acknowledged by Beneficiary, mailed to Trustor and recorded in the
<br />ounty in which the Trust Estate is located and by otherwise complying with the provisions of the
<br />�plicable law of the State of Nebraska substitute a successor or successors to the Trustee named herein
<br />� acting hereunder.
<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and
<br />nds all parties hereto, their heirs, legatees, devisees, personal representatives, successors and assigns.
<br />ie term "Beneficiary" shall mean the owner and holder of fihe Note, whether or not named as Beneficiary
<br />8. INSPECTIONS. Beneficiary, or its agents, representatives or workmen, are authorized to
<br />ter at any reasonable time upon or in any part of the Trustee Estate for the purpose of inspecting the
<br />me and for the purpose of performing any of the acts it is authorized to perForm under the terms of any
<br />the Loan Instruments.
<br />9. EVENTS OF DEFAULT. Any of the following events shall be deemed an event of default
<br />der:
<br />(a) Trustor shall have failed to make payment of any installment of interesfi, principal, or principal
<br />interest or any other sum secured hereby wrhen due; or,
<br />(b) There has occurred a breach of default under any fierm, covenant, agreement, condition,
<br />i, representation, or wrarranty contained in any of fihe Loan Instruments.
<br />10. ACCELERATION UPON DEFAULT ADDITIONAL REMEDIES. Should an event of default
<br />�, Beneficiary may declare all indebtedness secured hereby to be due and payable, and the same
<br />thereupon become due and payable without any presentment, demand, protest, or notice of any kind.
<br />safter the Beneficiary may:
<br />{a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver
<br />pointed by a Court and without regard to the adequacy of its security, enter upon and take possession
<br />the Trust Estate, or any part thereof, in its own name or in the name of Trustee, and do any acts which
<br />ieems necessary or desirable fio preserve the value, marketability or rentability of the Trust Estate, or
<br />rt thereof or interest therein, increase the income therefrom or protect the security hereof, and with or
<br />:hout taking possession of the Trust Estate, sue for or otherwise collect the rents, issues and profits
<br />
|