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' DEED OF TRUST � O��. O 6 3�i �
<br />Loan No: 101243968 � ' (Continued) Page 3
<br />Property. However, this option shell not be exercised by Lender if such exercise is prohibited by federal law or by
<br />Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of
<br />Trust:
<br />Peyment. Trustor shall pey when due (and in all events prior to dellnquency) all taxes, speciel texes, assessments,
<br />cherges (including water and sewer), fines and impositions levied against or on account of the Property, and shell
<br />pay when due all claims for work done on or for services rendered or meterial furnished to the Property. Trustor
<br />shell maintain the Property free of all liens having priority over or equai to the interest of Lender under this Deed of
<br />Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of
<br />Trust.
<br />Right to Contest. Trustor may withhoid payment of any tax, assessment, or claim in connection with e good faith
<br />dispute aver the obligetion to pey, so long as Lender's interest in the Property is not jeopardized. If a lien arises or
<br />is filed as a result of nonpeyment, Trustor shall within fifteen (15) deys after the lien arises or, if a lien is filed,
<br />within fifteen (15) days after Trustor hes notice of the filing, secure the discharge of the lien, or if requested by
<br />Lender, deposit with Lender cesh or a sufficient corporate surety bond or other security satisfactory to Lender in an
<br />amount sufficient to discharge the lien plus any costs and ettorneys' fees, or other charges that could accrue es a
<br />result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shell satisfy
<br />eny edverse judgment before enforcement ageinst the Property. Trustor shall name Lender as an additional obligee
<br />under any surety bond furnished in the contest proceedings.
<br />Evldence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the texes
<br />or essessments and shall euthorize the appropriete governmental official to deliver to Lender at eny time a written
<br />statement of the taxes and assessments against the Property.
<br />Notice of Constructton. Trustor shall notify Lender at least fifteen (151 deys before any work is commenced, any
<br />services are furnished, or any materials are supplied to the Property, if any mechanlc's lien, meterielmen's lien, or
<br />other lien could be asserted on eccount of the work, services, or materials. Trustor will upon request of Lender
<br />furnish to Lender advance assurances satisfectory to Lender thet Trustor can and will pey the cost of such
<br />improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a pert of this Deed of
<br />Trust.
<br />Maintenance of Insurance. Trustor shell procure and maintein policies of fire insurance with stenderd extended
<br />coverage endorsements on a fair velue besis for the full insurable value covering all Improvements on the Real
<br />Property in an emount sufficlent to avoid appllcetion of any coinsurance cleuse, end with a standard mortgegee
<br />clause in favor of Lender, together with such other hezard and liebility insurance as Lender may reasonably require.
<br />Policies shall be written in form, amounts, coverages end basis reasonably accepteble to Lender end issued by a
<br />compeny or compenies reasonebly eccepteble to Lender. Trustor, upon requeat of Lender, will deliver to Lender
<br />from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipuletions thet
<br />covereges will not be cencelled or diminished without at least ten (10) days prior written notice to Lender. Eech
<br />insurance policy elso shall include an endorsement providing that coverage in favor of Lender will not be impeired
<br />in any wey by any act, omission or default of Trustor or eny other person. Should the Real Property be loceted in
<br />en aree designated by the Director of the Federel Emergency Menegement Agency es e special flood hazard area,
<br />Trustor agrees to obtain and mafntein Federal Flood Insurance, if eveilable, within 45 days after notice is given by
<br />Lender that the Property is located in a special flood hezard area, for the full unpeld principal belance of the loen
<br />and any prior liens on the property securing the loen, up to the maximum policy limits set under the National Flood
<br />�nsurance Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loen.
<br />Applicatlon of Proceeds. Trustor shell promptly notify Lender of any loss or damage to the Property. Lender mey
<br />meke proof of loss if Trustor fails to do so within fifteen (7 5) days of the casualty. Whether or not Lender's
<br />security is impaired, Lender may, at Lender's electian, receive end retain the proceeds of any insurance end epply
<br />the proceeds to the reduction of the Indebtedness, payment of any lien effecting the Property, or the restoration
<br />end repair of the Property. If Lender elects to epply the proceeds to restoretion and repair, Trustor shall repeir or
<br />replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasoneble cost of
<br />repeir or restoration if Trustor is not in defauit under this Deed of Trust. Any proceeds which have not been
<br />disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of
<br />the Property shall be used first to pey any amount owing to Lender under this Deed of Trust, then to pay accrued
<br />interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds
<br />any proceeds after peyment in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's
<br />interests may appear.
<br />LENDER'S EXPENDITURES. It Trustor fails iA) to keep the Property free of all taxes, liens, security interests,
<br />encumbrances, and other claims, (B) to provide any required insurance on the Property, or (C) to make repairs to the
<br />Property then Lender may do so. If any action or proceading is commenced that would materielly affect Lender's
<br />interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender
<br />believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will
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