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201202382
<br /> DEED OF TRUST
<br /> Loan No: 872058537 (Continued) Page 6
<br /> public; (b) join in granting any easement or creating any restriction on the Real Property; and (c) join in any
<br /> subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust_
<br /> Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights
<br /> and remedies set forth above, with respect to all or any part of the Property, the Trustee shall have the right to
<br /> foreclose by notice and sale, and Lender will have the right to foreclose by judicial foreclosure, in either case in
<br /> accordance with and to the full extent provided by applicable law.
<br /> Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee
<br /> appointed under this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the
<br /> office of the recorder of HALL County, State of Nebraska. The instrument shall contain, in addition to all other
<br /> matters required by state law, the names of the original Lender, Trustee, and Trustor, the book and page (or
<br /> computer system reference) where this Deed of Trust is recorded, and the name and address of the successor
<br /> trustee, and the instrument shall be executed and acknowledged by all the beneficiaries under this Deed of Trust or
<br /> their successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the
<br /> title, power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for
<br /> substitution of Trustee shall govern to the exclusion of all other provisions for substitution.
<br /> NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default
<br /> and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received
<br /> by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if
<br /> mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to
<br /> the addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of
<br /> any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning of
<br /> this Deed of Trust. Any person may change his or her address for notices under this Deed of Trust by giving formal
<br /> written notice to the other person or persons, specifying that the purpose of the notice is to change the person's
<br /> address. For notice purposes, Trustor agrees to keep Lender informed at all times of Trustor's current address. Unless
<br /> otherwise provided or required by law, if there is more than one Trustor, any notice given by Lender to any Trustor is
<br /> deemed to be notice given to all Trustors. It will be Trustor's responsibility to tell the others of the notice from Lender.
<br /> MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br /> Amendments. What is written in this Deed of Trust and in the Related Documents is Trustor's entire 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 bound or obligated by the change or
<br /> amendment.
<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 /> 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 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 /> 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 obligations of Borrower 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 Borrower shall mean
<br /> each and every Borrower. This means that each Trustor signing below is responsible for all obligations in this Deed
<br /> of Trust.
<br /> No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under this Deed of Trust
<br /> unless Lender does so in writing. The 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 not have to comply with the other provisions of this Deed of Trust. Trustor 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 situation happens again. Trustor further understands 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 finds 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 /> 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 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 /> Waive Jury. All parties to this Deed of Trust hereby waive 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 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 KIRBY K SMITH and includes all co-signers and co-makers signing the
<br /> Credit Agreement and all their successors and assigns.
<br /> Credit Agreement. The words "Credit Agreement" mean the credit agreement dated March 23, 2012, with
<br /> credit limit of $180,000.00 from Borrower to Lender, together with all renewals of, extensions of,
<br /> modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. The
<br /> maturity date of this Deed of Trust is March 23, 2017. NOTICE TO TRUSTOR: THE CREDIT AGREEMENT
<br /> CONTAINS A VARIABLE INTEREST RATE.
<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 /> Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes,
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