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<br />2012Q0470
<br />, F , , , DEED OF TRUST
<br />� ' (Continued)
<br />Pag� 7
<br />this Dead 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, may
<br />deal with Trustor's successors with reference to this Deed of Trust and the Indebtedness by way of forbaerance or
<br />extension without releasing Trustor from the obligations of this Deed of Trust or liabilfty under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waive Jury. All partles to this Deed of Trust hereby waive the right to any jury trial in any action, proceeding, or
<br />counterclaim brought by any party egetnst any other party.
<br />Waiver of Homestead Exempdon. Trustor hereby releases and weives all rights and benefits of the homestead
<br />exemption laws of the State of Nebraska as to all 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, all 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 shall
<br />inolude 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 Exchange Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means Grand River Properties, LLC and includes all co-signers and co-mekers
<br />signing the Note and all their successors and assigns.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and
<br />includes without limitation ali 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 °Default".
<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local stetutes,
<br />regulations and ordinances relating to the protection of human health or the environment, including without
<br />limitation the Comprehensive Environmentel Response, Compensation, and Liab(Iity Act of 1980, es emended, 42
<br />U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br />No. 99-499 (°SARA"), the Hazardous Materlals Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource
<br />Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules,
<br />or regulations adopted pursuant thereto.
<br />Event of Default. The words "Event of Default° mean any of the events of default set forth in this Deed of Trust in
<br />the events of default section of this Deed of Trust.
<br />Guaranty. The word "Guaranty" means the gueranty from guarantor�endorser, su�rety, or accommodation party to
<br />Lender, including without limitation a guaranty of all or pert of the IV`�ote. � , _ �
<br />Hazardous Substances. The words "Hazardous Substances° m�an m�terials tC��'�, - because of thei� quantity,
<br />concentration or physical, chemical or infectious characteristics, rra _���use -or po�e°�a�F�Yr�9ecSt�or pota�tiel hazard
<br />to human health or the environment when improperly used, treated, stored, di§posed'of; genereted, mgnufactured,
<br />transported or otherwise handled. The words °Hazerdous Substances° are used in their very broedest sense and
<br />include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed
<br />under the Environmental Laws. The term "Hazardous Substances° also includes, without limitation, petroleum and
<br />petroleum by-products or any fraction the�eof and asbestos.
<br />Improvements. The word "Improvements" means all existing and future improvements, buildings, structures,
<br />mobile homes affixed on the Real Property, fecilities, additions, replacements and other construction on the Real
<br />Property.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expanses
<br />payable under the Note or Related Documents, together with ell renewals of, extensions of, modifications of,
<br />consolidations of and substitutions for the Note or Related Documents and any emounts expended or advanced by
<br />Lender to discharge Trustor's obligations or expenaes incurred by Trustee or Lender to enforce Trustor's
<br />obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.
<br />Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances
<br />provision, together with all interest thereon and all amounts that may be indirectly secured by the
<br />Cross-Collateralizatfon provision of this Deed of Trust.
<br />Lender. The word "Lender" means Exchange Bank, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated January 17, 2012, �n the original principal
<br />amount of 5400 ,000.00 from Trustor to Lender, together with all renewals of, extensions of, mod(flcations
<br />of, refinancings of, consolidations of, and substitutions for the' promissory note or agreement. NOTICE TO
<br />TRUSTOR: THE NOTE CONTAINS A VARIABLE INTEREST RATE.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, end other articles ot personal
<br />property now or hereafter owned by Trustor, and now or hereafter atteched or affixed to the Real Properry;
<br />together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such
<br />property; and together with all proceeds (Including without Umitation all insurance proceeds and refunds of
<br />premiums) from any sale or other disposition of the Property.
<br />Property. The word "Property° means collectively the Real Property and the Personal Property.
<br />Real Property. The words "Real Property° mean the real property, interests and rights, as further described in this
<br />Deed of Trust.
<br />Related Documents. The words "Releted Documents" mean all promissory notes, credit agreements, loan
<br />agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security
<br />deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter
<br />existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and
<br />other benefits derived from the Property.
<br />Trustee. The word °Trustee° means Exchange Bank-Gibbon, whose address is P.O. Box 760, Gibbon, NE 68840
<br />and any substitute or successor trustees.
<br />Trustor. The word °Trustor" means Grand River Properties, LLC.
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