|
MORTGAGE � O 1 `� O � � "� �
<br />(Continued) Page 8
<br />Lender does consent to a request, that does not mean that Grentor will not have to get Lender's consent egein if
<br />the situation happens again. Grantor further understanda that just because Lender consents to one or more of
<br />Grantor's requests, that does not mean Lender will be required to consent to any of Grantor's future requests.
<br />Grantor waives presentment, demand for payment, protest, and notice of dishonor.
<br />Severebtlity. If a court finds that any provision of this Mortgage is not valid or should not be enforced, that fact by
<br />itself will not mean that the rest of this Mortgage will not be velid or enforced. Therefore, a court will enforce the
<br />rest of the provisions of this Mortgage even if a provision of this Mortgage may be found to be invalid or
<br />unenforceable.
<br />Merger. There shall be no merger of the interest or estate created by this Mortgage 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 />Successors and Assigns. Subject to any limitations stated in this Mortgage on transfer of Grantor's interest, this
<br />Mortgage shall be binding upon and inure to the benefit of the perties, their successors and assigns. If ownership
<br />of the Property becomes vested in a person other than Grantor, Lender, without notice to Grantor, may deal with
<br />Grantor's successors with reference to this Mortgage and the Indebtedness by way of forbearance or extension
<br />without releasing Grantor from the obligations of this Mortgage or liability under the Indebtedness.
<br />Time Is of the Essence. Time is of the essence in the performance of this Mortgage.
<br />Walver of Homestead Exemption. Grantor 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 Mortgage.
<br />DEFINITIONS. The following words shall have the following meanings when used in this Mortgage:
<br />Borrow�r. The word "Borrower" means RONALD L. THORP and TAMARA RENKEN and includes all co-signers end
<br />co-makers signing the Note and all their successors and essigns.
<br />Envlronm�ntel Lewa. 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"1, the Superfund Amendments and Reauthorizatian Act of 1986, Pub. L.
<br />No. 99-499 ("SARA"�, the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Reaource
<br />Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules,
<br />or regulations adapted pursuant thereto.
<br />Event of Default. The words "Event of Defeult" mean any of the events of default set forth in this Mortgege in the
<br />events of default section of this Mortgage.
<br />Grantor. The word "Grantor" means RONALD L. THORP and TAMARA RENKEN.
<br />Guarenty. The word "Guarenty° 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 />Hazerdous Substencas. Th@, 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 "Hezardous Substances" are used in their very broedest sense and
<br />include without limitetion 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-praducts 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, eMensions 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 Grantor's obligations or expenses incurred by Lender to enforce Grantor's obligations under
<br />this Mortgage, together with interest on such emounts as provided in this Mortgage.
<br />Lender. The word "Lender" means TheBANK of Edwardsville, its successors and assigns. The words "successors
<br />or assigns" mean any person or company that acquires any interest in the Note.
<br />Mortgage. The word "Mortgage° means this Mortgage between Grantor and Lender.
<br />Note. The word "Note" means the promissory note dated May 2, 2012 in the original principal amount of
<br />$82,400.00 from Grantor to Lender, together with all renewats of, eutensions of, modifications of, refinancings
<br />of, consolidations of, and substitutions for the promissory note or agreement.
<br />Peraonal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personel
<br />property now or hereafter owned by Grantor, and now or hereafter etteched 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 />
|