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t, 201104���
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<br />� ;�EED OF TRUST
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<br />(Continued) page 2
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<br />any other party the right to remove, any timber, rriinerals (including oil and gas�, coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent. '', :i"
<br />Removal of Improvements. Trustor shall not deFnalish or remave any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal df any Improvements, Lender may require Trustor to make arrangements satisfactory
<br />to Lender to replace such Improvements with Impi�bv�ments of at least equ�l value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Properly at all reasonable times to
<br />attend to Lender's interests and to inspect the FBeal''Property for purposes of Trustor's compliance with the terms and conditions 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 governmental authorities applicable to the use or occupancy of the Property, including without limitatian, the
<br />Americans With Disabilities Act. Trustor may cqnte�t in good faith any such law, ordinance, or regulation and withhold compliance
<br />during any proceeding, including appropriate appeals,� so long as Trustor has notified Lender in writing prior to doing so and so long as,
<br />in Lender's sole opinion, Lender's interests in the; Pr are not jeopardized. Lender may require Trustor to post adequate security
<br />or a surety bond, reasonably satisfactory to Lender, tn protect Lender's interest.
<br />Duty to Protect. Trustor agrees neither to abandoh'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 />DUE ON SALE - CONSENT BY LENDER. Lender may; at� Lender's option, declare immediately due and payable aIl sums secured by this
<br />Deed of Trust upon the sale or transfer, without Lend�r's ; prior written consent, of all or any part of the Real Property, or any interest in the
<br />Real Property. A"sale or transfer" means the convey�nce of Real Property or any right, title or interest in the Real Property; whether legal,
<br />beneficial or equitable; whether voluntary or involunta8y; rn+hether by outright sale, deed, installment sale contract, land contract, contract
<br />for deed, leasehold interest with a term greater thari thsee (3) years, lease-option contract, or by sale, assignment, or transfer of any
<br />beneficial 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 6�'y I.ender 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 evei�ts prior to delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewer), fines and impositions levied again�t or an account of the Property, and shall pay when due ali claims for work done
<br />on or for services rendered or material fumished`to ihe Property. Trustor shall maintain the Property free of all liens having priority
<br />over or equal to the interest of Lender under this' De�d 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 paymen�, 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 fifteen (15) days after Trustor has notice of the
<br />filing, secure the discharge of the lien, or if req�testad by Lender, deposit with Lender cash or a sufficient corporate surety bond or
<br />other security satisfactory to Lender in an amoun� sufficient to discharge the lien plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of a foreclosure or �sal� 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 bond fumished in the contest proceedings.�' '' =
<br />Evidence of Payment. Trustor shall upon demand fumish to Lender satisfactory evidence of payment of the taxes or assessments and
<br />shall authorize the appropriate governmental officBal tp 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 Lehder at least fifteen (15) days before any work is commenced, any services are
<br />furnished, 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 furnish to Lender advance assurances satisfactory to
<br />Lender that Trustor can and will pay the cost of sueM'improvements.
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<br />PROPERTY DAMAGE INSURANCE. The following prov�siohs relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall pro�ure! and maintain policies of fire 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 avoid application of any coinsurance•,Clae�se, and with a standard mortgagee clause in favor of Lender. Trustor shall also
<br />procure and maintain comprehensive general liakiility insurance in such coverage amounts as Lender may request with Trustee and
<br />Lender being named as additional insureds in 5uch liability insurance policies. Additionally, Trustor shall maintain such other
<br />insurance, including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies
<br />shall be written in form, amounts, coverages and' �t�asis reasonably acceptable to Lender and issued by a company or companies
<br />reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies or certificates
<br />of insurance in form satisfactory to Lender, inclu�img stipulations that coverages will not be cancelled or diminished without at least
<br />thirty (30) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coveraga in
<br />favor of Lender will not be impaired in any way? by, any act, omission or default of Trustor or any other person. Should the Real
<br />Property be located in an area designated by the Ditector of the Federal Emergency Management Agency as a special flood hazard
<br />area, Trustor agrees to obtain and maintain Federal �lood Insurance, if available, within 45 days after notice is given by Lender that
<br />the Property is located in a special flood hazar�'ar'sa, for the full unpaid principal balance of the loan and any prior liens on the
<br />property securing the loan, up to the maximum ppliicy limits set under the National Flood Insurance Program, or as otherwise required
<br />by Lender, and to maintain such insurance for the'teran of the loan.
<br />Application of Proceeds. Trustor shall promptly notif,y 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 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 restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and
<br />repair, Trustor shall repair or replace the damaged ot destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay or reimbarse Trustor from the proceeds for the reasonable cost of repair or restoration if
<br />Trustor is not in default under this Deed of Trust%.� �ny proceeds which have not been disbursed within 180 days after their receipt
<br />and which Lender has not committed to the repair ar restoration of the Property shall be used first to pay an,y amount owing to Lender
<br />under this Deed of Trust, then to pay accrued ie�te�est, and the remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustor's interests may appear. '
<br />Trustor's Report on Insurance. Upon request of tsrider, however not more than once a year, Trustor shall furnish to Lender a report
<br />on each existing policy of insurance showing: (1) t�e name of the insurer; (2) the risks insured; (3) the amount of the policy; (4)
<br />the property insured, the then current replaceme�t value of such property, 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 proceediri� is commenced that would materially affect Lender's interest in the Property or if
<br />Trustor fails 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 reqiuifed 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 interest§,'ehcumbrances and other claims, at any time levied or placed on the Property and
<br />paying all costs for insuring, maintaining and preservirig the Property. All such expenditures incurred or paid by Lender for such purposes
<br />will then bear interest at the rate charged under the Ndte from the date incurred or paid by Lender to the date of repayment by Trustor. All
<br />such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) 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
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