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� DEED OF TRUST � o�, i Q"� 61 �
<br />Loan No: 101245345 ♦ (Continued) Page 3
<br />or to any land trust hoiding title to the Real Property, 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 lew or by
<br />Nebraska law.
<br />TAXES AND LIENS. The following provisions relating ta the taxes and liens on the Property are part of this Deed of
<br />Trust;
<br />Payment. Trustor shall pey when due (and in ell evants 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 whan due all 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 />Right to Contest. Trustor may withhold payment of eny tax, essessment, or claim 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 (9 5) days after the lien arises 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 e sufficfent corporate surety bond or other security satisfactory to Lender in an
<br />amount sufficient to discherge the lien plus any costs and attorneys' fees, or other charges that could accrue as a
<br />result of a foreclosure or sele under the tien. In eny contest, Trustor shall defend itself and Lender and shell satisfy
<br />any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee
<br />under any surety bond furnished in the contest proceedings.
<br />Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes
<br />or assessments and shall authorize the appropriate governmental official to deliver to Lender at eny time e written
<br />statement of the taxes end assessments against the Property.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) days before any work is commenced, eny
<br />services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or
<br />other lien could be asserted on account of the work, services, or matarials. Trustor will upon request of Lender
<br />furnish to Lender advence assurances satisfactory to Lender that Trustar can end will pay the cost of such
<br />improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property ere 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 velue 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 fevor of Lender, together with such other hazerd and liebility insurance as Lender may reasonably require.
<br />Policies shell be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a
<br />company or compenies 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 (101 days prior written notice to Lender. Each
<br />insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired
<br />in any way by any act, omission or default of Trustor or any other person. Should the Real Property be tocated in
<br />an area designated by the Director of the Federal Emergency Management Agency as a spaciel flood hazard area,
<br />Trustor agrees to obtain and maintain Federal Flood Insurance, if aveilable, for the full unpaid principal belence 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 />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br />make proof of loss if Trustor fails to do so within fifteen (15) deys of the casualty. Whether or not Lender's
<br />security is impeired, Lender may, at Lender's election, receive and retain the proceeds of any insurence and apply
<br />the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration
<br />and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Trustor shall repeir or
<br />replace the dameged or destroyed Improvements in a mannar satisfactory to Lender. Lender shell, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds 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 bean
<br />disbursed within 180 days after their receipt end which Lender hes not committed to the repafr or restoration of
<br />the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued
<br />interest, and the remainder, if eny, shall be applied to the principal balance of the Indebtedness. If Lender holds
<br />eny proceeds after payment in fuil of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's
<br />interests may appear.
<br />LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all taxes, liens, security interests,
<br />encumbrances, and other claims, (B) to provide any required insurence on the Property, or (C) to make repeirs to the
<br />Property then Lender may do so. If any action or proceeding is commenced that would materiaily 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
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