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DEED OF TRUST � p 1�. 0 8 4'7 0
<br />(Continued) P89e 2
<br />replacements, and maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of
<br />Trustor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal,
<br />release or threatened release of any Hazardous Substance by any person on, under, about or from the Property;
<br />(2) 7rustor has no knowledge of, or reason to believe that there has been, except as previously disclosed to and
<br />acknowfedged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any use,
<br />generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance
<br />on, under, about or from the Propern/ by any prior owners or occupants of the Property, or (c1 any actual or
<br />threstened litigation or claims of any kind by any person reiating to such matters; and t3) Except as previously
<br />disclosed to and acknowledged by Lender in writing, (a► neither Trustor nor any tenant, contractor, agent or other
<br />authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous
<br />Substance on, under, about or from tfie Property; and Ib) any such activity shati be conducted in compliance with
<br />a�l applicable federai, state, and local laws, regulations and ordinances, including without limitation all
<br />Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property to make such
<br />inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the
<br />Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shali not be construed to 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 diligence in
<br />investigating the Property for Hazardous Substances. Trustor hereby (1) releases and waives any future ciaims
<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 against any and all claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from
<br />a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage,
<br />disposal, release or threatened release occurring prior to 7rustor's ownership or interest in the Property, whether or
<br />not the same was or should have been known to Trustor. The provisions of this section of the Deed of Trust,
<br />including the obligation to indemnify and defend, shaif survive the payment ofi the Indebtedness and the satisfaction
<br />and reconveyance of the lien of this Deed of Trust and shail not be affected by Lender's acquisition of any interest
<br />in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any
<br />stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the
<br />foregoing, Trustor will not remove, or grant to any other party the right to remove, 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 lmprovements. Trustor shall not demolish or remove any Improvements from the Real Property without
<br />Lender's prior written consent. As a cond'+tion to the removal of any Improvements, Lender may require Trustor to
<br />make arrangements satisfactory to Lender to replace such Improvements with improvements of at least equal
<br />vaVue.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all
<br />reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Trustor's
<br />compliance with the terms and conditions of this Deed of Trust.
<br />Compliance with Governmerrtal Requirements. Trustor shall promptly comply with all laws, ordinances, and
<br />regulations, now or hereafter in effect, of aii governmental authorities applicable to the use or occupancy of the
<br />Property, including without limitation, the Americans With Disabilities Act. Trustor may contest in good faith any
<br />such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals,
<br />so long as Trustor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's
<br />interests in the Property are not jeopardized. lender may require Trustor to post 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 Property. Trustor shall do all other
<br />acts, in addition to those acts set forth above in this section, which from the character and use of the Property are
<br />reasonably necessary to protect and preserve the Property.
<br />Construction Loan. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construct
<br />or complete construction of any Improvements on the Property, the Improvements shall be completed no later than
<br />the maturity date of the Note (or such earlie� date as Lender may reasonably establish) and Trustor shal{ pay in full
<br />all costs and expenses in connection with the work. Lender will disburse loan proceeds under such terms and
<br />conditions as Lender may deem reasonably necessary to insure that the interest created by this Deed of Trust shall
<br />have priority over all possible liens, including those o4 material suppliers and workmen. Lender may require, among
<br />other things, that disbursement requests be supported by receipted bills, expense affidavits, waivers of liens,
<br />construction progress reports, and such other documentation as Lender may reasonably request.
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums
<br />secured by this qeed of Trust upon the sale or transfer, without Lender's prior w�itten consent, of alI or any part of the
<br />Real Property, or any interest in the Real Property. A"sale or transfer" means the conveyance of Real Property or any
<br />right, title or interest in the Rea{ Property; whether legat, beneficial or equitable; whether voluntary or involuntary;
<br />whether by outright sale, deed, installment sale 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 land trust holding titte to the Real Property, or by any other method ot conveyance of an interest in the Real
<br />Property. If any Trustor is a corporation, partnership or limited liability company, transfer also includes any change in
<br />ownership of more than twenty-five percent (25%) of the voting stock, partnership interests or limited liability company
<br />interests, as the case may be, of such Trustor. However, this option shaff not be exercised by Lender if such exercise
<br />is prohibited by federal law or by 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 />Payment. Trustor shall pay when due Iand in all events prior to delinquency) all taxes, special taxes, assessments,
<br />charges (including water and sewerl, fines and impositions levied against or on account of the Property, and shall
<br />pay when due all claims for work done on or for services rendered or material furnished to the Property. Trustor
<br />shal{ maintain the Property free of ail 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 any tax, assessment, 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 (75) 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 Lendes cash 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 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 name Lender as an additional obligee
<br />under any surety bond furnished in the contest proceedings.
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