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<br />DEED OF TRUST 2 012 0 ����
<br />� .
<br />Loan No: 101254375� (Continued) Page 9
<br />Annual Reports. If the Property is used for purposes other than Trustor's residance, Trustor shall furnish to
<br />Lender, upon request, a certified statement of net opereting income received from the Property during Trustor's
<br />previous fiscal year in such form end detail es Lender shall require. "Net operating income" shall mean all cesh
<br />receipts from the Property less all cash expenditures made in connection with the operation of the Property.
<br />Ceptlon Headings. Caption headings in this Deed of Trust are for convenience purposes only and ere not to be
<br />used to interpret or define the provisions of this Deed of Trust. �
<br />Merger. There sha�l 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 capecity, without the written consent
<br />of Lender.
<br />Governing Law. This Deed of Trust will be governed by federal law appliceble 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 hes 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 Llability. 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. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such
<br />waiver is given in writing and signed by Lender. No delay or omission on the pert of Lender in exercising any right
<br />shall operate as a weiver of such right or any other right. A waiver by Lender of e provision of this Deed of Trust
<br />shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with thet
<br />provision or any other provision of this Deed of Trust. No prior weiver by Lender, nor any course of dealing
<br />between Lender and Trustor, shall constitute a waiver of eny of Lender's rights or of any of Trustor's obligations
<br />as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting
<br />of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where
<br />such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
<br />Severability. If a court of competent jurisdiction finds eny provision of this Deed of Trust to be illegal, invalid, or
<br />unenforceable as to any parson or circumstance, that finding shall not make the offending provision illegel, invalid,
<br />or unenforceable es to any other person or circumstance. If feasible, the offending provision shall be considered
<br />modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall
<br />be 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 shalt 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 steted in this Deed of Trust on trensfer of Trustor's interest,
<br />this Deed of Trust shell be binding upon and inure to the benefit of the perties, their successors end essigns. 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 liebility 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 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 wards 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 emounts 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 shell
<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 Five Points Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means KEVIN L. HULSE; KEVIN L. HULSE TRUST AGREEMENT DATED APRIL 6,
<br />2010 AND FURTHER AMENDED AND RESTATED ON AUGUST 25, 2077; and TAMMIE L. HULSE TRUST
<br />AGREEMENT DATED APRIL 6, 2010 AND FURTHER AMENDED AND RESTATED ON AUGUST 25, 2011 and
<br />includes all co-signers and 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 releting to the Personal Property and
<br />Rents.
<br />Defauh. The word "Default" means the Default set forth in this Deed of Trust in the section titled "Default".
<br />Envlronmental Laws. The words "Environmental Laws" mean eny and all state, federal and local statutes,
<br />reguletions and ordinances releting to 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
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