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DEED OF TRUST � O� 1 O 5�. s�
<br />Loan No: 101241$89 (COntit7ued) Page 2
<br />entitled to e claim for deficiency, before or efter Lender's commencament or completion of eny foreclosure acSion, either judicially or by
<br />exercise of a power of sale.
<br />PAYMENT AND PERFORMANCE. Except es otherwise provided in this Deed of Trust, Borrower shall pey to Lender all Indebtednass
<br />secured by this Deed of Trust as it becomes due, end Borrower and Trustor shall perform all their respective obligations under the Note,
<br />th3s Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a"construction mortgaga" for the purposes of Sections 9-334 and 2A-309 of the
<br />Uniform Cammercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENAIVCE OF THE PROPERTY. Borrower and Trustor egree that Borrower's and 7rustor's possession and use of
<br />the Property shall be governed by the tollowing provisions:
<br />Possession and Use. Until the occurrence of an Event of Detault, Trustor may (1) remain in possession end control of the Proparty;
<br />(2) use, operate or manege the Property; and (3) cqlle,ct the Renis from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perfarm all repairs, replacements, end
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents end warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substence by any person on, under, about or from the Property; (2) Trustor has no knowiedge of, or reason ta believe
<br />that there has been, except as previously disclosed to end acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmentel Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardaus Substance on, under, about or trom the Property by any prior owners or accupants of the Property, or fa) any actual or
<br />threatened litigation or cfaims of any kind by any person relating to such matters; and (3) Except es previously disclosed to and
<br />acknowledged by Lender in writing, !a? naither Trustor nor any tenant, contractor, agent or other authorized user ot the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hezardous Substance on, under, about or from the Property;
<br />and fb) any such activity shell be conducted in compliance with ail applicable federal, state, and local laws, regufations and
<br />ordinances, including without limitation all Environmenta) 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 appropriete to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspec#ions or tests made by Lander shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or fiability on the part of Lander to Trustor or to any other person. The rapres�ntetions and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hezardous Substances, Trustor
<br />hereby (1) releases and waives any future cleims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, end hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, panalties, end expenses which Lender may directly or indirectly sustain or sufifer resuiting ftom a
<br />breach of this section of the Daed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or
<br />threatened release occurring prior to Trustor's ownarship or interest in the Propeny, whether or not the seme 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 tha payment ot the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust end shall not be
<br />afFected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />IYuisance, Waste. Trusior shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping ot or waste on
<br />or to the Property or any portion of the Property. Without timiting the generality ot the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timber, minerals (including oil and gas1, cosl, clay, scoria, soii, grevel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improveme�rts. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consant. As a condition to the removaf of any Improvemenis, Lender may require Trustor to make errengements satisfectory
<br />to Lender to replace such tmprovements with Impro.vements of at least equal value.
<br />Lender's Right to Enter. Lender and Lender`s agents and representatives mey enter upon the Real Property at a!I reasonebfe timas to
<br />attend to Lender's interests and to inspect the Real Properry tor purposes of Trustor's compliance with the terms and conditions of
<br />this Deed of Trust.
<br />Compliance with Governmerrtal Requirements. Trustor shal) promptly comply with alf laws, ardinances, and regutations, now or
<br />hereafter in effect, of all governmentel authorities applicable to the use or occupancy of the Property, including wifihout limitation, the
<br />Americans With Disebilities Act. Trustqr may contest in good faith eny such law, ordinance, or regulation and withhotd 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 Property are nat jeopardized. Lender may require Trustor to post adequate 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 ects 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 />Construct+on Loan. ff some or all of the proceeds of the loan creating the Indebfiedness are to be used to construct or complete
<br />construction of any lmprovements on the Propeny, the Improvemants shalt be completed no leter than the maturity date of the Note
<br />(or such earlier date as Lender may reasonabiy establish) and Trustor shail pay in tull all costs and expenses in connection with the
<br />work. Lender wilf disburse loan proceeds under such terms and conditions as Lender may deem reasonably rtecessary to insure that
<br />the interest created by this Deed ot Trust sheli heve priority over alf possible liens, including those of material suppliers and workmen.
<br />Lender may require, among other #hings, that disbursement requests be supported by receipted biils, expanse affidavits, waivers of
<br />liens, construction progress reports, end such other documentation as Lender may reasonabiy request.
<br />DUE ON SALE - CONSENT BY LENDER. Lender mey, at Lender's option, declare immediately due and payable all sums secured by this
<br />Deed ot Trust upon tha sale or transfer, without Lender's prior +nrrittAn consent, of all or any part of the Real Property; ar any interest in the
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