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<br />Loan No: 135513
<br />DEED OF TRUST `� 012 Q 4� 7�
<br />(Continued) Page 7
<br />such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
<br />Severebility. If a court of competent jurisdiction finds eny provision of this Deed of Trust to be illegal, invalid, or
<br />unenforceable as to any circumstance, thet finding shall not make the offending provision illegal, inval(d, or
<br />unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so
<br />that it becomes legal, valid and entorceable. If the offending provision cannot be so modified, it shell be
<br />considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or
<br />unenforceability of any provision of this Deed of Trust shell not affect the legality, validity or enforceability of any
<br />other provision of this Deed of Trust.
<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 />Waiver of Homesteed Exemption. Trustor hereby releases end waives all rights and benefits of the homestead
<br />exemption laws of the State of IVebraska 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 ln this Deed of
<br />Trust. Unless specifically stated to the contrary, all references to dollar amounts shall mean emounts 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 Commerciel Code:
<br />Beneflciary. The word "Beneficiary" means CORNERSTONE BANK, and its successors and assigns.
<br />Borrower. The word "Borrower" means Southern Meadows Apartments, LLC and includes all co-signers end
<br />co-makers signing the Note end 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 end 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 Lews. The words "Environmental Laws" mean any and all state, federal and local stetutes,
<br />regulations and ordinances relating ta the protection of humen 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 />Conservetion and Recovery Act, 42 U.S.C. Se�ti�.�9Q�.g.�se�.,,�or other applicable state or federal laws, rules,
<br />or regulations adopted pursuant thereto. � � :�..� �- ��,� � ���
<br />Event of Default. The words "Event of Default,�' r���ii �r�`��f'�h'd`bvents of defiault t forth in this Deed of Trust in
<br />the events of default section of this Deed of T� a° "°"�� �� r�'rr `�� �� •`' ",
<br />(3uarentor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the
<br />Indebtedness.
<br />Guarenty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitat(on a
<br />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 humen health or the environment when improperly used, treated, stored, disposed of, generated, menufactured,
<br />transported or otherwise handled. The words "Haaardous 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 listed
<br />under the Environmental Lews. The term "Hazardous Substances" also includes, without limitation, petroleum end
<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 ell renewals of, extensions of, modifications of,
<br />consolidations of and substftutions for the Note or Related Documents and eny amounts expended or advanced by
<br />Lender to discharge Trustor's obligetions 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 all interest thereon and all amounts that may be indirectly secured by the
<br />Cross-Collateralizetion provision of this Deed of Trust.
<br />Lender. The word "Lender" means CORNERSTONE BANK, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated May 30, 2012 in the original principal �mount
<br />of $597 ,244.40 from Borrower to Lender, together with all renewals of, extensions of, modifications of,
<br />refinencings 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 "Personel Property" mean all equipment, fixtures, and other articles of personal
<br />property now or hereafter owned by Trustor, and now or hereafter atteched or affixed to the Real Property;
<br />together with all accessions, parts, end additions to, all replacements of, and all substitutions for, any of such
<br />property; and together with ell proceeds (including without limitation all insurance proceads and refunda 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 />egreements, environmentel agreements, guaranties, security egreements, mortgages, deeds of trust, security
<br />deeds, collateral mortgages, and all other instruments, agreements and documents, wheiher 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 Property.
<br />Trustee. The word "Trustee" means CORNERSTONE BANK, whose address is 529 LINCOLN AVENUE, YORK, NE
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