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Loan No: 16286
<br />of this Deed of Trust.
<br />DEED OF TRUST
<br />(Continued) 2 a i� Q��'� � Page 2
<br />DUE ON SALE - COiVSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums
<br />secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the
<br />Real Property, or any interest in the Real Property. A"sale or transfar" means the conveyance of Real Property or any
<br />right, title or interest in the Real Property; whether Isgal, beneficial or equitable; whether voluntary or involuntary;
<br />whether by outright sale, deed, installment sala contract, land contract, contract for deed, leasehold interest with a
<br />term greater than threa (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in
<br />or to any land trust holding title Yo the Real Property, or by any other method of conveyence 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
<br />Nebraska law.
<br />TAXES AND LIENS. The following provisions ratating to the taxes and liens on the Property ere part of this Deed of
<br />Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments,
<br />charges (including water and sewer), fines and impositions levied egainst or on account of the Property, and shall
<br />pay when due atl claims for work done on or for services rendered or material furnished to the Property. Trustor
<br />shall maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of
<br />Trust, except for the lien of taxes and assessments not due, except for tha Existing Indebtedness referred to
<br />below, and except as otherwise provided in this Deed of Trust.
<br />PROPERTY DAMAGE INSURANCE. The fo!lowing provisions relating to insuring the Property are a pert of this Deed of
<br />Trust.
<br />Mairrtenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended
<br />coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real
<br />Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee
<br />clause in favor of Lendar, together with such other hazerd and liability insurance as Lender may reasonably require.
<br />Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a
<br />company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender
<br />from time to time the policies or certificates of insurance in form satisfectory to Lender, including stipulations that
<br />coverages will not be cancelled or diminished without a# least ten (10) days prior written notice to Lender. Each
<br />insurance policy also shall include an endorsament providing that coverage in favor of Lender will not be impaired
<br />in any way by any act, omission or dafault of Trustor or any other person. Sf�outd the Reaf Property be loceted in
<br />an area designated by the Director ot ihe Federa! Emergency Managament Agency as a special flootl hazard area,
<br />Trustor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of
<br />the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the
<br />National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term
<br />of the loan.
<br />LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all taxes, liens, security interests,
<br />encumbrances, and othe� claims, (6) to provide any required insurence on the Property, (C) to make repairs to #he
<br />Property or to comply with any obligation to maintain Existing Indebtedness in good standing as required below, then
<br />Lender may do so. If any action or proceeding is commenced that would materially affect Lendar's interests in the
<br />Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender believes to be
<br />appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear
<br />interest at the rate charged undar the Note from the date incurred or paid by Lender to the date of repayment by
<br />Trustor. AII such ezpenses will become a part of the Indebtedness and, at Lender's option, will (A) be payabie on
<br />demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installmant
<br />payments to become due during either (7) the term of any applicable insurance policy; or (2) the remaining term of
<br />the Note; or (G) be treated as a balloon payment which will be due and payable at fihe Note's maturity.
<br />WARRAN7Y; DEFENSE OF TITLE, The following provisions relating to ownership of the Property are a part of this Deed
<br />of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple,
<br />free and clear of all liens and encumbrances other than those set forth in the Real Property description or in the
<br />Existing Indebtadnass section below or in any title insurance policy, title report, or final title opinion issued in favor
<br />of, and accepted by, Lender in connection with this Deed of Trust, and (b) Trustor has the full rigF�t, power, and
<br />authority to axecute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the
<br />title to the Property against the lawful claims of all persons.
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an
<br />existing lien. Trustor expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness
<br />and to prevent any default on such indebtedness, any default under the instruments evidencing such indebtedness,
<br />or any default under any security documents for such indebtedness.
<br />EVENTS OF DEFAULT. At Lender's option, Trustor will be in default under this Deed of 7rust if any of the following
<br />happen:
<br />Paymerrt Default, Borrower fails to make any payment when due under the lndebTednass.
<br />Break Other Promises. Borrower or Trustor breaks any promise made to Lender or tails to perForm promptly at the
<br />time and strictly in the manner provided in this Deed of Trust or in any agreement related to this Deed of Trust.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition conteined in this
<br />Deed of Trust, the Note or in any of the Related Documents.
<br />Default on Other Payments. Faifure of Trustor within the time required by this Deed of Trust to make arty paymant
<br />for taxas or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />Death or Insolvency. The death of Borrower or Trustor, the insolvency of Borrower or Trustor, the appointment of
<br />a receiver for any part of Borrower's or Trustor's property, any assignment for the benefit of creditors, any type of
<br />creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against
<br />Borrower or Trustor.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br />or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party
<br />dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br />Indeb#edness,
<br />Insecuri#y. Lender in good faith believes itself insecure.
<br />Existing Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is
<br />not made within the time required by the promissory note evidencing such indebtedness, or a detault occurs under
<br />the instrumenT securing such indebtedness and is nat cured during any applicable grace period in such instrument,
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