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DEED OF TRUST 2 0110 4 0 9 7
<br />Loan I�o: 35177 (Continued) Page 2
<br />attend to Lender's interests and to inspect the Real Property for purposes of Trustor's compliance wifh the terms and conditions of
<br />this Deed of Trust.
<br />Compliance with Govemmental Requirements. Trustor shall promptly comply with all laws; ordinances;'and regulationa, now or
<br />hereafter in effect, of all governmental authorities applicable to the use or occu�iancy of the Property, including without'1lmitation, the
<br />Americans With Disabilities Act. Trustor may contest in good faith any such law, ordinence, or regulation and wlthhold compliance
<br />during any proceeding, including appropriate eppeals, so long as?rusto� has notified Lender in wrlting prior to doing so"and so long as,
<br />in Lender's sole opinion, Lender's interests in the Property are not jeopardized: Lender may 7equire Trustor to post adequete security
<br />or a surety bond, reasonably satisfactory to Lender, to protect 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 />DUE 0111 SALE - CONSENT 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 written consent, of all or eny 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 sate contract, land contract, contract
<br />for daed, ieasehold interest with a term grea'ter than three (3) yaars, lease-optfon contract, or by sale; assignment, or transfer of any
<br />benefici�l 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 lew.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Praperty are part of this Deed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all texes, special taxes, assessments, charges (including
<br />water and sewer), fines and impositions levied against or on account of the Property, end shall pay when due all clafms for work done
<br />on or for services rendered or material furnished to the Property. Trustor shall meintairi the Property free of all liens having priority
<br />over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and essessments 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 claim in connectlon with a good faith dispute over the
<br />obligation to pay, so long as Lender's interest in the Property is not jeopardized. If e lien erises or is filed as e result. of nonpayment,
<br />TrJstor 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 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 ettomeys` fees, or other charges
<br />that could accrue as a result of a foreclosure or sale under the lien. In any contest, Trustor shali defend itself and Lender and shall
<br />satisfy any adverse judgment before enforcement ageinst the Property. „Trustor shall name Lender as an additionel qbligee under any
<br />surety bond furnished in the contest proceedings:
<br />Evtdence of Payment. TrusYOr shall upon demand furnish to Lender satisfactory evidence of payment bf the taxes or sssessments 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 fifteen f15) days before eny 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 ofthe work, services;.or materials. Trustorwill upon request of Lender furnish to Lender advance assurences satisfactory to
<br />Lender that Trustor can and will pay the cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Praperty ara a part of this Deed of Trust.
<br />Meintenance of Insurance. Trustor shall procure and maintein policies of fire insurance with standard extended coverage
<br />endorsernerats a� a i�afr valu� basis fior th� @uli }rsurai�l,s �value covering elk lmpro�+�ments on tfip Raal Property-i� an �mount sufficient
<br />to avoid application of any coinsur8nce clause, and with a standard mortgagee clause (n favor of Cender: Trustor shell also procure
<br />and maintain comprehensive general liability insurance in such coverege amounts as Lender may request with Trustee and Lender
<br />being named as additional insureds in such liability insurance policies. Add'itionally, Trustor shall maintain such other insurence,
<br />including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policfes shell be
<br />written in form, amounts, covereges and basis reasonably acceptable to Lender and issued by a company or companies reasqnebly
<br />acc.eptable to Lender. Trustor, upon request of Lender, wili deliver to Lender. from time to time the policies or certificates of insurance
<br />in form satisfactory to Lender, f�cluding stipulations that coverages will not be cancelled or diminished without at least ten (10) days
<br />priar written notice to Lender. Each insurence,policy also shall include an e�dorsement providing that coverage in favor of Lender will
<br />not' be impaired in any wey by any act, omission or default of Trustor or any other person. Should the Real Property be located in an
<br />area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Trustor egrees to
<br />obtain and maintain Federal Flood Insurance, if available, for the full unpeid principal' balance of the loan and any prior liens on the
<br />property securing the loan, up to the maximum policy limits set under the Netional Flood Insurance Program, or as otherwise required
<br />by Lender, and to maintain such insurance for the term of the loen.
<br />Ap�lication of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the `Property: ' Lender may make proof of lo'ss
<br />if Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, Lender may; et Lend'er's
<br />election, receive and retain the proceeds of eny insurance and epply the proceeds to the reduction of the Indebtedness, peyment of
<br />any lien affecting the Property, or the restoration and repair of the Property, If Lender, elects to epply the proceeds to resioration and
<br />repair, Trustor shall repair or replace the damaged or destroyed Imqrovements in a manner satisfactory to, Lender. Lender-shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of repeir or .restorat(on if
<br />Trustor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt
<br />and which Lender has not committed to the repair or restoration of the Property shell be used first to pay eny 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 principal balence of the
<br />Ind�btedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Truator as
<br />Trustor's interests mey appear.
<br />Trustor's Report on Insurance. Upon request of Lender, however not more than once a year, Trustor shall furnfsh to Lender a report
<br />on each existing policy of insurance showing: (1) the name of the insurer; (2) the risks inaured; (3) the amount of the policy; (4)
<br />the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the
<br />expiration date of the policy. Trustor shell, upon reguest of Lender, have an independent appraiaer setisfactory to Lender determine
<br />the cash value replacement cost of the Property.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would meterially affect Lender's interest in the Propsrty or if
<br />Trustor fails to comply with any provision of this Deed of Trust or any Related Documents, fncluding but not limited to Trustor's failure to
<br />discharge or pay when due any amounts Trustor is required to discharge or pay under this Deed of Trust or eny Releted Documents, Lender
<br />on Trustor's behalf may (but shall nat be obligated to) take any action that Lender deems appropriate, including but not limited to
<br />discharging or paying ell taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Property and
<br />�peying all costs for insuring, maintaining and preserving the Property. AII such expenditurea incurred or pafd by Lender for such purposes
<br />will then bear interest at the rate charged under the Note 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 instailment payments to become due during e(ther (1) the term of
<br />any applicable insurance policy; or (21 the remaining term of the Note; or (C) be treated as a balloon payment which will be due and
<br />payable at the Note's maturity. The Deed af Trust also will secure payment of these amounts. Such right shall be in edditlon to all other
<br />rights and remedies to which Lender may be entitled upon Default.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating. to ownership of the Property are a part of this peed of Trust:
<br />Title. Trustor warrants thet: (a) Trustor holds good and marketable title of record to the Property in fee simple, free end clear of all
<br />liens and encumbrances other than those set forth in the Real Property description or in any title insurance policy; title report, or final
<br />title opinion issued in favor of, and accepted by, Lender in connection with this Deed of TrusL and (bP Trustoc has the full°right,
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