|
201200607
<br /> DEED OF TRUST
<br /> Loan No:872U58449 (COntlnUed) Page 6
<br /> Amendments. What is written in this Deed of Trust and in the Related Documents is Trustor's ertire agreement
<br /> � with Lender concerning the matters covered by this Deed of Trust. To be effective,any change or amendment to
<br /> � this Deed of Trust must be in writing and must be signed by whoever will be 6ountl ot obligated by the change or
<br /> amendment.
<br /> Caption Headings. Caption headings in this Deed of Trust are for convenience purposes oniy and are not to be
<br /> used tn interpret or define the provisions of this Deed of Trust.
<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 /> Goveming Law. This Deed of Trust will be govemed by federal law applica6le to Lender and,to the extent not
<br /> preempted 6y federal law,the laws of the State of Nebraska without regard to its conflicts of law provisions. This
<br /> Deed of Trust has been accepted by Lender in the State of Nebraska. .
<br /> Choice of Venue. IP there is a lawsuit,Trustor agrees upon Lender's request to submii to the jurisdiction of the
<br /> courts of Hall County,State of Nebraska.
<br /> Joint and Several Liability. All obligations of Trustor under this Deed of Trust shall be joint and several,and all
<br /> references to Trustor shall mean each and every Trustor. This means that each Trustor signing below is
<br /> responsi6le fo�all QbGgations in this Deed of Trust.
<br /> No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under fhis Deed of Trust
<br /> unfess Lender does so in writing. Tlie fact that Lender delays or omits to exercise any right will not mean that
<br /> Lender has given up that right. If Lender does agree in writing to give up one of Lender's rights,that does not
<br /> mean Trustor will nQt have to comply with the other provisions of this Deed of Trust. T�ustor also understands
<br /> that if Lender does consent to a request,that does not mean that Trustor will not have to get Lender's consent
<br /> again if the situaUOn happens again. Trustor further undersYands that just because Lender consents to one or more
<br /> of Trustor's requests,that does not mean Lender will be required to consent to any of Trustor's future requests.
<br /> Trustor waives presentment,demand for payment,protest,and notice of dishonor.
<br /> Severability. If a court fintls that any provision of this Deed of Trust is not valid or should not be enforced,that
<br /> fact by itself will not mean that the rest of this Deed of Trust will not be valid or enforced. Therefore,a court will
<br /> enforce the rest of the provisions of this Deed of Trust even if a provision of this Deed of Trust may be found to be
<br /> invalid or unenforceable:.
<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 /> owners�hip of the Property becomes vested in a person other than Trustor, Lender,without notice to Trustor,may
<br /> deal with Trusmr's successors with reference to this Deed of Trust and the lndebtedness by way of forbearance or
<br /> eMension without releasing Trustor from the obligations of this�eed of Trusi 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 /> Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury trial in any action,proceeding,or
<br /> couriterclaim brought by any party against any other party.
<br /> Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead
<br /> exemption laws of the State of Nebraska as to all lndebtedness secured by this Deed of Trust.
<br /> DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust
<br /> . Beneficiary. The word"Beneficiary"means Equitable Bank,and its successors and assigns.
<br /> Borrower. The word "Borrower" means JAMES A MUHLBACH and KATHLEEN J MUHLBACH and includes all
<br /> co-signers and co-makers signing the Credit Agreement and all their successors and assigns.
<br /> Credit Agreement The words "Credk AgreemenY' mean the credit agreement dated January 19, 2012, Wlth
<br /> credit limit of 520,000.00 from Trustor to Lender,together with all renewals of,extensions of,modifications
<br /> of,refinancings of,consolidations of,and substitutions for tlie promissory note or agreement. The maturity date of
<br /> this Deed of Trust is January 19, 2017. NOTICE TO TRUSTOR: THE CREDIT AGREEMENT CONTAINS A
<br /> VARIABLE INTEREST FiATE. �
<br /> Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee; and
<br /> includes without limitation all assignment and security interest provisions relating to the Personal Property and
<br /> Rents.
<br /> Environmerrtal 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, ineluding without
<br /> limitation the Comprehensive Environmental Response,Compensation,and Liability Act of 1980,as amended,42
<br /> U.S..C.Section 9601,et seq. l"CERCLA"),the Superfund Amendments antl Reauthorization Act of 1986,Pub.L.
<br /> No.99-�'99("SARA"),the Hazardous Materials 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 Defauk"mean any of the events of default set forth in this Deed of Trust in
<br /> the events of default section of this Daed of Trust.
<br /> Hazardous Substances. The words "Hazardous Su6stances" mean materials that, because of their quantity,
<br /> concentration or physical,chemical or infectious characteristics,may cause or pose a present or potential hazard
<br /> to human health or the environment when improperty used,treated,stored,disposed of,9enerated,manufactured,
<br /> transported or otherwise handled. The words"Hazardous Substances" are used in their very broadest 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 Substaoces"also indudes,without limitation,petroleum and
<br /> petroleum by-products or any fraction thereof and asbestos..
<br /> - Improvements. The word "ImprovemenYS" means all existing and future improvements, 6uildings, structures,
<br /> mobile homes affixed on the Real Property,facilities, atlditions, replacements and other construction on the Real
<br /> Property.
<br /> IndebYedness. The word "Indebtedness" means atl principal; interest, and other amounts, costs and expenses
<br /> payable under the Credit Agreement or RelateB DocumeMS, together with all renewals of, exiensions of,
<br /> modifications of, consolidations of and substitutions for the Credit Agreement or Related Documents and any
<br /> amounts expended or advanced by Lender to discharge Trustor's obligations or expenses incurred by Trustee or
<br /> Lender to enforce Ttustor's obligations under this Deed of Trust, together with interesx on such amounts as
<br /> provided in this Deed of Trust.
<br /> Lender. The word "Lender" means Equitable Bank, its successors and assigns. The words "successors or
<br /> assigns"mean any person or company that acquires any interest in the Credit Agreement.
<br /> Personal Property. The words "Personal Property" mean all equipment, fiMUres, and other articles of personal
<br />
|