|
201202���
<br />DEED OF TRUST
<br />(Continued) Page 7
<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 forbearence 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 />Walve Jury. All parties to this Deed of Trust hereby walve the rlght to eny jury trial in any action, proceedtng, 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 Nebreska as to ell Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following capitelized words and terms shall have the following meanings when used in this Deed ot
<br />Trust. Unless specifically stated to the contrary, all references to doller 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, end the plurel 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 Exchange Bank, and its successors and assigns.
<br />Borrower. The word °Borrower° means Edwerds Building Corp end includes all co-signers and cp-mekers signing
<br />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 ar�y and all stata, federal and locel statutes,
<br />regulations and ordinances relating to the protection of humen health or the environment, including without
<br />limitation the Comprehensive Environmentsl Response, Compensation, and Liability Act of 1980, as amended, 42
<br />U.S.C. Section 9601, et seq. (°CERCLA"1, the Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br />No. 99-499 ("SARA"1, 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 8901, et seq., or other applicable state or federal laws, rules,
<br />or regulations adopted pursuant thereta
<br />Event of Default. The words "�vent �of Default" mean any of the events of default set forth in this Deed of Trust in
<br />the Qvents of default section of this Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guarenty from g ar.arttos, gndqrs�;,s�fQE�t:�4r �accomrr�odation party to
<br />Lender, including without limitation a guarenty of all or part o� th� Not�:�� c� GLa;�,�g ...� �'
<br />Hazardous Substances. The words "Haaerdous Substanc�"� �8�.l:�rr�,'�,' i��g t l i a r��t3eGguse of their quantity,
<br />concentration or physical, chemical or infectious characteristics, may ceuse or po§e a pre§ent 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 end
<br />include without limitation any and all hazardous or toxic substances, materials or,waste as defined by or Iisted
<br />under the Environmental Laws. The term °Hazardous Substances° elso includes, without limitation, petroleum and
<br />petroleum by-pro'ducts 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, end other amounts, costs and expenses
<br />payable under the Note or Related Documents, together with all renewals of, extenslons 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 />Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances
<br />provision, together with atl interest thereon end all amounts that may be indirectly secured by the
<br />Cross-Collateralization provision of thls Deed of Trust.
<br />Lender. The word °Lender" means Exchange Benk, its successors and assigns.
<br />Note. The word "Note° means the promissory note dated April 10, 2012 in the original principal amount
<br />of $35,136 from Trustor to Lender, together with all renewals of, extensions of, modiflcations 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 ettached 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 />properry; and together with all proceeds (including without Iimitation all insurance proceeds and refunds of
<br />premiums) from eny 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, es 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 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 Properry.
<br />Trustee. The word °Trustee" means Exchange Bank, whose address is 7 204 Allen Drive, PO Box 5793, Grand
<br />Island, NE 68802 and eny substitute or successor trustees.
<br />Trustor. The word °Trustor" means Edwards Building Corp.
<br />
|