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201202438 <br /> DEED OF TRUST <br /> (Continued) Page 7 <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 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 /> 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 PINNACLE BANK,and its successors and assigns. <br /> Borrower. The word "Borrower" means WILKINSON DEVELOPMENT INC and includes all co-signers and <br /> 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 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 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 1980,as amended,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 Materials Transportation Act,49 U.S.C.Section 1801,et seq.,the Resource <br /> Conservation and Recovery Act,42 U.S.C.Section 6901,at 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 /> Existing Indebtedness. The words"Existing Indebtedness" mean the indebtedness described in the Existing Liens <br /> provision of this Deed of Trust. <br /> Guaranty. The word"Guaranty"means the guaranty from guarantor,endorser,surety,or accommodation party to <br /> Lender,including without limitation a guaranty of all or part of the Note. <br /> Hazardous Substances. The words "Hazardous Substances" 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 improperly used,treated,stored,disposed of,generated,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 Substances"also includes,without limitation,petroleum and <br /> petroleum by-products or any fraction thereof and asbestos. <br /> Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, <br /> mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real <br /> Property. <br /> Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses <br /> payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, <br /> consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by <br /> Lender to discharge Trustor's obligations or expenses 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 /> Lender. The word"Lender"means PINNACLE BANK,its successors and assigns. <br /> Note. The word"Note"means the promissory note dated March 20,2012,in the original principal amount <br /> of $362,160.25 from Trustor to Lender, together with all renewals of, extensions of, modifications of, <br /> refinancings of,consolidations of,and substitutions for the promissory note or agreement.NOTICE TO TRUSTOR: <br /> THE NOTE CONTAINS A VARIABLE INTEREST RATE. <br /> Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal <br /> property now or hereafter owned by Trustor, and now or hereafter attached or affixed to the Real Property; <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 limitation 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 "Related 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 contraction with the Indebtedness. <br /> Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and <br /> other benefits derived front the Property. <br /> Trustee. The word "Trustee" means PINNACLE BANK, whose address is PO BOX 179, OGALLALA, NE 69153 <br /> and any substitute or successor trustees. <br /> Trustor. The word"Trustor"means WILKINSON DEVELOPMENT INC. <br />