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.;,� DEED OF TRUST 2 012 0 0 0 6 6
<br />Loen No: 1tl1248081� (Continued) Page 9
<br />previous fiscal year in such form and detail as Lender shall require. "Net operating income" shall mean all cesh
<br />receipts from the Property less all cash expenditures made in connection with the operation of the Property.
<br />Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be
<br />used to interpret or define the provisions of this Deed of Trust.
<br />e
<br />Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or
<br />estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent
<br />of Lender.
<br />Governing Law. This Deed of Trust will be governed by federel law applicable to Lender and, to the extent not
<br />preempted by federal law, the laws of the Stete of Nebraska without regerd to i� conflicts of law provisions. This
<br />Deed of Trust has been accepted by Lender in the Stete of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the
<br />courts of Hall County, State of Nebraska.
<br />Joint and Several Liability. All obligetions of Borrower and Trustor under this Deed of Trust shall be joint end
<br />several, and all references to Trustor shall mean each and every Trustor, end atl references to Borrower shell mean
<br />each and every Borrower. This means that each Trustor signing below is responsibla for all obligations in this Deed
<br />of Trust. Where any one or more of the parties is a corporation, partnership, limited liability company or similar
<br />entity, it is not necessary for Lender to inquire into the powers of eny of the officers, directors, partners, members,
<br />or other agents acting or purporting to act on the entity's behalf, and any obligations made or created in reliance
<br />upon the professed exercise of such powers shall be guaranteed under this Deed of Trust.
<br />No Welver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such
<br />waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right
<br />shall operate es a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust
<br />shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict complience with that
<br />provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing
<br />between Lender and Trustor, shall constitute e waiver of any of Lender's rights or of any of Trustor's obligations
<br />as to any future transections. Whenever the consent of Lender is required under this Deed of Trust, the granting
<br />of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where
<br />such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
<br />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or
<br />unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or
<br />unenforceable es to any other circumstance. If feasibie, the offending provision shall be considered modified so
<br />that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be
<br />considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or
<br />unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any
<br />other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest,
<br />this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If
<br />ownership of the Property becomes vested in a person other than Trustor, Lender, without notice to Trustor, mey
<br />deal with Trustor's successors with reference to this Deed of Trust and the Indebtedness by way of forbearance or
<br />extension without releasing Trustor from the obligations of this Deed of Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Walver of Homestead Exemption. Trustor hereby releases end waives all rights and benefits of the homestead
<br />exemption laws of the State of Nebreska as to ell Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of
<br />Trust. Unless specifically stated to the contrary, ell references to dollar amounts shall mean amounts in lawful money
<br />of the United States of America. Words and terms used in the singular shall include the plural, and the plural shell
<br />include the singular, as the context may require. Words and terms not otherwise defined in this Deed of Trust shall
<br />have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means Five Points Benk, and its successors and assigns.
<br />Borrower. The word "Borrower" means KTH HOLDINGS, INC.; KEVIN L HULSE; and TAMMIE L HULSE and
<br />includes all co-signers and co-makers signing the Note and all their successors and assigns.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust emong Trustor, Lender, and Trustee, and
<br />includes without limitation all assignment and security interest provisions relating to the Personal Property and
<br />Rents.
<br />Default. The word "Default" means the Default set forth in this Deed of Trust in the section titled "Defeult".
<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes,
<br />regulations and ordinances relating to the protection of human health or the environment, including without
<br />limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 7980, as emended, 42
<br />U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L.
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