DEED OF TRUST �, 0� 10'7 � 5�
<br />(Continued) ,G, pege 2
<br />purposes only and shall not be construed Yo create any responsibility or liability on the part of Lender to Trustor or
<br />, to any other person. The representations and warranties contained herein are based on Trustor's due ditigence in
<br />investigating the Property for Hazardous Substances. Trustor hereby (1) releases end waives any future cleims
<br />against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under
<br />any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender ageinst any end ail claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectiy sustain or suffer resulting from
<br />a breach of this section of the Deed of Trust or as a consequence of any use, gt�neration, manufacture, storage,
<br />disposal, release or threataned refease occurring prior to Trustor's ownership or interest in the Property, whether or
<br />not the same was or should have been known to Trustor. The provisions of thfs section of the Deed of Trust,
<br />including the obligation to indemnify and ziefand, shall survive the payment of the Indebtedness and the satisfaction
<br />and reconveyance of the (ien of this Deed of Trust and shall not be affected by Lender's acquisition ot any interest
<br />in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance no� commit, permit, or suffer any
<br />stripping of or waste on or to the Property or any portion of the Property. Withput limiting the generality of the
<br />foregoing, Trustor will not remove, or grant to any other party the right to remov@, any timber, minerals (including
<br />oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvementis from the Real Property without
<br />Lender's prior writtan consent. As a condition to the removal of any Improvamen�s, Lender may require Trustor to
<br />make arrangements satisfactory to Lender to replace such Improvemants with �Improvements of at least equal
<br />value. �
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may erlter upon the Real Property at all
<br />reasonable times to attend to Lender's interests and to inspect the Real Pro�erty for purposes of Trustor's
<br />compliance with the terms and conditions of this Deed of Trust. i
<br />Compliance with Gavernmental Requlrements. 7rustor shall promptly complyi with all laws, ordinancas, and
<br />regulations, now or hereafter in effect, of all governmental authorities epplicable', to the use or occupancy of the
<br />Property, including without fimitation, the Americans With Disabilities Act. Trustpr may contest in good taith any
<br />such law, ordinance, or regulation and withhold compliance during any proceeding, inciuding appropriate appeals,
<br />so long as Trustor has notified Lender in writing prior to doing so and so long as, �n Lender's sole opinion, Lender's
<br />interests in the Property are not jeopardized. Lender may require Trustor to po,�t adequate security or a surety
<br />bond, reasonably satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Trustor agrees neither to abandon or leave unattended the Prdperty. Trustor shall do alI other
<br />acts, in addition to those acts set forth above in this section, which from the chatlacter and use of the Property are
<br />reasonab(y necessary to protect and preserve the Property. �
<br />Construction Loan. if some or all of the proceeds of the loan creating the Indebte ness are to be used to construct
<br />or complete canstruction of any Improvements on the Property, the Improvement�shall be completed no later than
<br />the maturity date of the Note (or such earliar date as Lender may reasonably establishl and Trustor shall pay in full
<br />all costs and expertses in connection with the work. Lender wi!! disburse loan proceeds under such terms end
<br />conditions as Lender may deem reasonably necessary to insure that the interest c�eated by this Deed of Trust shall
<br />have priority over all possible liens, including those of material suppliers and work en. Lender may require, among
<br />other things, that disbursement requests be supported by receipted bills, exp�nse affidavits, waivers of liens,
<br />construction progress reports, and such other documentation as Lender may reas�nably requesY.
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare imm�diately due and payable all sums
<br />secured by this Deed of Trust upon the sale or transfar, without Lender's prior writte consent, of all or any part of the
<br />Real Property, or any interest in the Real Property. A"sale or transfer" means the cojnveyance of Real Property or, any
<br />right, title or interast in the Real Property; whether legal, beneficial or equitable; �hether voluntary or involuntary;
<br />whether by outright sale, deed, installment sale contract, land contract, contract fo deed, leasehold interest with a
<br />term greater than three (3) years, lease-option contract, or by sale, assignment, or tr�nsfer of any beneficiel interest in
<br />or to any land trust holding title to the Real Property, or by any other method of con eyance of an interest in the Real
<br />Property. If any Trustor is a corporation, partnership or limited liability company, trahsfer also includes any change in
<br />ownership of more than twenty-five percent (25%) of the voting stock, partnership in�erests or limited liability company
<br />interests, as the case may be, of such Trustor. However, this option shall not be ex�rcised by Lender if such exercise
<br />is prof�ibited by federal law or by Nebraska law. +
<br />TAXES AND LIENS. The following provisions relating to Lhe taxes and liens on the �Property are part of this Deed of
<br />Trust: �
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all t xes, special taxes, assessments,
<br />charges (including water and sawer), fines and impositions levied against or on �ccount of the Property, and shalt
<br />pay when due ali claims for work done on or for services rendered or material f�rnished to the Property. Trustor
<br />shall maintain the Property free of all liens having priority over or equal to the int rest of Lander under this Deed of
<br />Trust, except for the lian of taxes and assessments not due and except as o��erwise provided in tfiis Deed of
<br />Trust. i
<br />Right to Contest. Trustor may withhold payment of any Tax, assessment, or clai�n in connection with a good faith
<br />dispute over the obligation to pay, so long as Lender's interest in the Property is �not jeopardized. If a lien arises or
<br />is filed as a result of nonpayment, Trustor shall within fifteen (15► days after the lien arises or, if a lien is filed,
<br />w+thin fifteen (15► days after Trustor has notice of the filing, secure the discha`ge of the lien, or if requested by
<br />Lender, deposit with Lender cash or a sufficient corporate surety bond or other s curity satisfactory to Lender in an
<br />amount sufficient to discharge the lien p(us any costs and attorneys' fees, or ot er charges that could acerue as a
<br />result ot a foreclosure or sale under the lien. In any contest, Trustor shall defendl itself and Lender and shall satisfy
<br />any adverse judgment before enforcement against the Property. Trustor shall na{ne Lender as an additional obligee
<br />under any surety bond furnished in the contest proceedings.
<br />Evidence of Payment. Trustor shall upon tlemand fumish to Lender satisfactoryievidence of paymeni of the taxes
<br />or assessmants and shall authorize the appropriata governmental offioiai to delivjer to Lender at eny time a written
<br />statement of the taxes and assessments against the Property.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) days be�ore any work is commenced, any
<br />services are furnished, or any materials are supplied to the Property, it any mec anic's lien, materialmen's lien, or
<br />other lien could be asserted on accoun# of the work, services, or materials. T�ustor will upon request of Lender
<br />furnish to Lender advance assurances satisfactory to Lender that Trustor cajn 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 vafue basis for the full insurabte value cove ing all improvements on the Reai
<br />Proparty in an amount sufticient to avoid application of any coinsurance claus , and with a standard mortgagee
<br />clause in favor of Lender. Trustor shall also procure and maintain comprehensiv general liability insurance in such
<br />coverage amounts as Lender may request with Trustee end Lender being na ed as additional insureds in such
<br />' i
<br />�
<br />
|