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. � , ,, , DEED OF TRUST c � �
<br />Loan No: 101244�6�1'6 '' (C011filnued) �+ o� 1 0 6��� page 3
<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 transfer" means the conveyence of Real Property or any
<br />right, titfe or interest in the Reai Property; whether legal, beneficial or equitable; whether voluntary or involuntary;
<br />whether by outright sele, deed, instaliment sele contract, land contract, contract for deed, leasehold interest with a
<br />term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in
<br />or to any lend trust holding title to the Real Proparty, 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
<br />Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Properry are 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 against or on account of the Property, and shall
<br />pay when due af( 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 and except as otherwise provided in this Deed of
<br />Trust.
<br />Rtght to Coirtest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good feith
<br />dispute over the obligation to pay, so long as Lender's interest in the Praperty is not jeopardized. If a Fien arises or
<br />is filed as e result of nonpayment, Trustor shail within fifteen (15) days after the lien erises or, if a lien is filed,
<br />within fifteen (15) days after Trustor has notice of the filing, secure the discharge of the lien, or if requested by
<br />Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an
<br />amount sufficient to discharge the fien plus any costs and attorneys' fees, or other charges that could accrue as a
<br />result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall satisfy
<br />any adverse judgment before enforcement against the Property. Trustor shall neme Lender as an additional obligee
<br />under any surety bond furnished in the contest proceedtngs.
<br />Evidence of Peyment, Trustor shall upon demartd furnish to Lander satisfactory evidence of payment of the taxes
<br />or assessments and shell authorize the eppropriate governmentai official to deliver to Lender at any time a written
<br />statement of the taxes and assessments against the Property.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (151 days before any work is commenced, any
<br />services are furnished, or any materials are supplied to the Properry, if any mechanic's lien, materialmen's lien, or
<br />other lien could be asserted on account of the work, services, or materials. Trustor will upon request of Lender
<br />furnish to Lender advance assurences satisfactory to Lender that Trustor can and will pay the cost of such
<br />improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of
<br />Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended
<br />coverage endorsements on a fair value basis for the full insurable value covering atl lmprovements on the Real
<br />Property in an amount sufficient to avoid application of any coinsurence clause, and with a stendard mortgagee
<br />clause in favor of Lender, together with such other hazard and liability insuranee as Lender may reasonabiy require.
<br />Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by e
<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 satisfactory to Lender, including stipulations that
<br />coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each
<br />insurance policy also shall include an endorsement providi�g that coverage in favor of Lender will not be impaired
<br />in any way by any act, omission or defautt of Trustor or any ather person. Should the Rea! Property be located in
<br />an area designated bq the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br />Trustor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal ba(ance of
<br />the loan and eny prior liens on the property securing the loan, up to the maximum policy limits set under the
<br />IVational Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term
<br />of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br />make proof of loss if T►ustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's
<br />security is impaired, Lender may, at Lender's election, receive and retain the proceeds of any insurance and apply
<br />the proceeds to the reduction of the Indebtedness, payment of any tien affecting the Property, or the restoration
<br />and repair of the Property, If Lender elects to epply the proceeds to restoretion and repair, Trustor shall repair 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 procesds for the reasonable cost of
<br />repair or restoration if Trustor is not in default 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 pay any amount owing to Lender under this Deed ot Trust, then to pay accrued
<br />interest, and the remainder, if any, shall be epplied to the principal balance of the Indebtedness. If Lender holds
<br />any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's
<br />interests may appear.
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