|
201201039
<br />DEED OF TRUST
<br />(Continued) Page 7
<br />purposes, Trustor agrees to keep Lender iriformed at all 4mes of Trustor's current address. Unless othervvise provided
<br />or required by law, If there is more than one Trustor, any noUce given by Lender to any Trustor is deemed to be notice
<br />given to all Trustors.
<br />MISCEILANE0U3 PROVISION3. The fotlowing miscellaneous provlsions are a part of this Deed of Trust:
<br />Amendments. This Deed of Trust, together with any Related Documents, constkutes the entire understanding and
<br />agreement of the parties as to the matters set forth in this Deed of Trust. No alteration of or amendment to this
<br />Deed of Trust shall be effective unless given in writing and signed by the party or parties sought to be charged or
<br />bound by the aiteration or amendment.
<br />Annual Reports. If the Property is used for purposes other than Trustor's residence, Trustor shall fumish to
<br />Lender, upon request, a certified statement of net operating income received from the Property during Trustors
<br />previous fiscal year in such foRn and detail as Lender shall require. "Net operating income" shall mean all cash
<br />receipts from the Property less all cesh expenditures made in connection with the operation of the Property.
<br />Captfon 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 provisfons 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 beneflt 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 applicable to Lender and, to the extent not
<br />preempted by 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 />Cholce of Venue. If there is a)awsuit, Trustor agrees upon Lender's request to submit to the ju�isdiction of the
<br />courts of Hall County, State of Nebraska.
<br />Joint and Several Llabllity. All obligations of BaROwer and Trustor under this Deed of Trust shall be joint and
<br />several, and all references to Trustor shall mean each and every Trustor, and all references to BoROwer shall mean
<br />each and every BoROwer. This means that each Trustor signing below is responsible for ali obligations in this Deed
<br />of Trust.
<br />No Waiver 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 omisslon on the part of Lender in exercising any right
<br />shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Tr,ust
<br />shall not prejudice o� constitute a waiver of Lenders right otherwise to demand strict compliance with that
<br />provisfon or any other provision of this Deed of Trust. No priw waiver by Lender, nor any course of dealing
<br />beiween Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustor's obligadons
<br />as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust, the grantfng
<br />of such wnsent 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 />S�verabllity. If a court of competent jurisdicUon flnds any provision of this Deed of Trust to be illegal, invaiid, or
<br />unenforceable as to any person or circumstance, that finding shall not make the offending provision illegal, fnvalid,
<br />or unenforceable as to any other person or circumstance. If feasible, the offending provision shall be considered
<br />modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so mod'rfied, it shall
<br />be considered deleted from this Deed of Trust. Unless othervvise required by law, the illegality, invalidity, or
<br />unenforceability of any provision of this Deed of Trust shail not affect the legaliry, validity or enforceability of any
<br />other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any lim(tations 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 Tn.rstor, Lender, without noUce to Trustor, may
<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 liabiliry under the Indebtedness.
<br />Time Is of the Essence. Time is of the essence in the performance of this Deed of Tnast.
<br />Waive Jury. All parties to this Deed of Trust heraby wafve the right to any jury trial in any action, proceeding, or
<br />counterclaim 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 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 spec'rfically 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 />include the singular, as the context may require. Words and terms not othetwise defined in this Deed of Trust shall
<br />have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneflciary. The word "Beneficiary" means GREAT WESTERN BANK, and its successors and assigns.
<br />Borrower. The word "BoROwer" means Thomas W. O'Neill; Jill A. O'Neill; and Ace Machine Shop and Sales, Inc.
<br />and 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 among Trustor, Lender, and Trustee, and
<br />includes without limitation all assignment and security lnterest provisions relating to the Personal Property and
<br />Rents.
<br />Default. The word "DefaulY' means the Default set forth in this Deed of Trust in the section tiUed "Defauit".
<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes,
<br />regulatians 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 1980, as amended, 42
<br />U.S.C. Section 9601, et seq. ("CERCIA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br />No. 99-499 ("SARA"), the Haaardous 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 DefautY' mean any of the events of default set forth in this Deed of Trust in
<br />the everrts of default section of this Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodatian party to
<br />Lender, lncluding without Iimitation a guaranry of all or part of the Note.
<br />Hazardous Substances. The words "Hazardous Substances" mean materials that, because of thefr quantity,
<br />concentration or physical, chemical or infectious characteristics, may cause or pose a present or potenUal hazard
<br />to human health or the environment when imprope�ly used, treated, stored, disposed of, generated, manufadured,
<br />transported or othervvise handled. The words "Hazardous Substances" are used in their very broadest sense and
<br />
|