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_ DEED OF TRUST , Page 3
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<br /> whether fee title to the leasehold premises,the leasehold estate,or any subleasehold estate,will merge without Lende�'s express written co�uent;rather
<br /> these estates will remain separate and distinct, even if there is a union of these estates in the landlord, Grantor, or a third party who purchases or
<br /> otherwise acquires the estates. Grantor further agrees that if Granfor acquires all or a portion of the fee simple title, or any other leasehold or
<br /> subleasehdd tiHe to the Property, that title will, at Lender's option, immediately become subject to the terms of this Deed of Trust, and Grantor will
<br /> execute,deliver and record all documenls necessary or appropriete to assure that such title is secured by this Deed of Trust.
<br /> 6. REHABILITATION LOAN AGREEMENT. Grantor shall fulfill all of Grantor's obligations under any home rehabilitation,improvement,repair,or other
<br /> loan apreement which Grantor may enter into with Lender. Lender,at Lender's option, may require Grantor to execute and deliver to Lender,in a form
<br /> acxeptable to Lender,an assignment of any rights,claims or defenses which Grantor may have against parties who supply Iabor, materiels or services
<br /> in connection with improvements made to the Property.
<br /> 7. DUE ON SALE-CONSENT BY LENDER. Lender may,at its option, have the right to accelerate,that is, declare immediately due and payable all
<br /> sums secured by this Deed of Trust upon the sale or transfer,without the Lender's pnor wntten consent,of all or any part of the Real Property,or any
<br /> interest in the Real Property. If Grantor sells or transfers the ReBI Property without the wnften consent of Lender,then,prior to ecoeleratlon Lender shall
<br /> give notice to Grantor. The notice shall provide a period of not less than ten(10)days from the date of the notice within which Grantor may pay the
<br /> sums declared due. If Grantor fails to pay those sums prior to the expiration of such period,Lender may,without further notice o�demand on Grantor,
<br /> invoke any remedies permitted in this Deed of Trust. A"sale w transfe�' means the conveyance of Real Property or any right,title or interest therein;
<br /> whether legal or equitable;whether voluntary or involuntary;whether by outright sale, deed,installment sale contract,land contract,contract for deed,
<br /> leasehdd interest with a term greater than three(3)years,lease-option contract,a by 581e,assignment,or transfer of any beneficial interest in or to any
<br /> land trust holding title to the Real Property,or by any other method of conveyance of Real Property interest. However,this option shall not be exercised
<br /> by Lender if such exercise is prohibited by federal law or by Nebraska law.
<br /> 8. TRANSFER OF PROPERTY. The following provisions relating to the transfer ot the Real Property are a part of this Deed of Trust:
<br /> NotlCe of Trensfer. Grantor shall give notice to Lender,as provided in this Deed of Trust,pnor to any sale or transfer of all or part of the Properiy
<br /> or any rights in the Real Property. Any person to whom all or part of the Real Property is sold or transferred also shall be obligated to give notice
<br /> to Lender,as provided in this Deed of Trust,promptly after such transfer.
<br /> Advances After Transfer. All amounts advanced under the LOANLINER� Home Equity Ptan Credit Agreement, up to the Gedit Limit, are
<br /> secured by this Deed of Trust, whelher advanced before or after sale or transfer of the Real Property, except any amou�ts which may be
<br /> advanced by Lender more than five (5) days after notice fo Lender,as provided in this Deed of Trust, that such transfer or sale has occurred.
<br /> Even if Grantor transfers the Real Property,Grantor will continue to be obligaied under the Credit Agreement and this Deed of Trust unless lender
<br /> releases Grantor in writing. As a condition to Lender's consent to any proposed transfer or as a condition to the release of Grantor,Lender may
<br /> require that the person to whom the Real Property is transfeRed sign an assumption agreemeni satisfactory to Lender and Lender may impose en
<br /> assumption fee. The assumption agreement will not entitle the person signing it to receive advances under the Credit Agreement.
<br /> 9. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are a part of this Deed of Trust.
<br /> Peyment. Grantor shall pay when due(and in all events prior to delinquency)all taxes,special taxes,assessments,charges(including water and
<br /> sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for services
<br /> rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having priority over or equal to the interest of
<br /> Lender under this Deed of Trust,exCept for the lien of taxes and assessments not due,except for the existing indebtedness referred to below,and
<br /> except as othenerise provided in this Deed of Trust.
<br /> Rlyht To Contest. Grantor mey withhold payment of any tax,assessment,or claim in connection with a good faith dispute over the obligation to
<br /> pay,so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,Grantor shall within fifteen
<br /> (15)days aRer the lien anses or,if a lien is filed,within fifteen(15)days after Grantor has notice of the filing,secure the discharge of the lien,or if
<br /> requested by Lender,deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sutficient
<br /> to discharge the lien plus any costs and attorneys'fees or other charges that could accrue as a result of a foreclosure or safe under the lien. In
<br /> any contest,Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall
<br /> name Lender as an additional obligee under any surety bond furnished in the contest proceedings.
<br /> Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
<br /> authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
<br /> Property.
<br /> Notlte of Construction. Grantor shall notity Lender at least fifteen (15) days before any work is commenced,any services are furnished,or any
<br /> materiels are supplied to the Property,if any mechanic's lie�, materialmen's lien,or other lien could be ssserted on account of the worlc,services,
<br /> or materials and the cost exceeds 510,000.00. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender
<br /> that Grantor can and will p&y the cost of such improvements.
<br /> 10. PROPERTY INSURANCE The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br /> Malntenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a
<br /> replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avad application of any
<br /> cansurance clause, and with a standard mortgagee clause in favor of Lender, together with such other hazard and liability insurence es �ender
<br /> may reasonably require. If the Real Property is located in an area designated by the Director of the Federal Emergency Management Agency as a
<br /> special flood hazard area, Grantw agrees to obtain Federal Flood Insurance to the exteni such insurance is required and is available. Pdicies
<br /> shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a compeny or companies reasonably
<br /> acxeptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurance in form
<br /> satisfactory to Lender,inCluding stipulations that coverages will not be cancelled or diminished without at least ten(10)days'prior written notice to
<br /> Lender.
<br /> Appllcatlon of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property it the estimated cost of repair or
<br /> replacement exceeds 510,000.00. lender may make proof oi loss if Grantor fails to do so within fifteen (15)days of the casualty. If,in Lenders
<br /> judgment, the restoration or repair is economically feasible and Lenders security is not lessened, insurance proceeds shall be applied to
<br /> restoration or repair of the damaged Property. If the restoration or repair is not economically feasible or Lender's seCUrity would be lessened,the
<br /> insurance proceeds shall be applied to the sums secured by this Deed of Trust whether or not then due, with any excess paid to Grantor. If
<br /> Grantor abandons the Property,or does not answer within thirty(30) days a notice from Lender that the insurance cartier has offered to settle a
<br /> claim,then Lender may cdlect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by
<br /> this Deed of Trust,whether or not then due. If Lender holds any proceeds after payment in full of the Indebtedness,such proeeeds shall be paid
<br /> to Grantor as Grantors interests may appear.
<br /> Unexplred Insurance at Sale. Any unexpired insurance shall inure to the benefit of, and pass to, the purchaser of the Property covered by this
<br /> Deed of Trust at any trustee's sale or other sale held under the provlsions of th�s Deed of Trust, or at any foreclosure sale ot such Property.
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