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DEED OF TRUST
<br />Loan No: 11096:8�-3, • (Continued)
<br />201206�5�
<br />Page 7
<br />shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that
<br />provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course o1 dealing
<br />between Lender and Trustor, shall constitute a waiver of any of Lender's rights or oi any oi 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 insta�ces 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 oi competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or
<br />unenforceable as to any circumstance, that finding shall not mAke the offending provision illegal, invalid, 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 enforceable. If the offending provision cannot be so modified, it shall 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 shall 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 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 Deod 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 Platte Valley State Bank & Trust Company, and its successors and
<br />assigns.
<br />Borrower. The word "Borrower" means Grone's Outdoor Power, Inc; Lawrence J Levering; and Sarah L Levering
<br />and includes all co-signers and co-makers signing the Note and all their succossors and assig�s:'
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and 7rustee, 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 "DefaulY'.
<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 amanded, 42
<br />U.S.C. Section 9601, et seq. ("CERCLA"►, the Superfund AmendmentsLLand F�eautha�i'ae�ion �ct,o�-1'� Pub. L.
<br />No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 4,9 U.S:�C. Soction 180f, e� seq.;;the Resource
<br />Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., oV o�her applicable,..stat��or ��derdl.layJs, 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 indobtedness described in the Existing Liens
<br />provision of this Deed of Trust.
<br />Guaranty. The word "Guaranty" means ihe 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 Subsiances" 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, gonerated, 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 substancas, materials or waste as defined by or listeci
<br />under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum and
<br />petroleum by-products or any fraction thereof and asbesios,
<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 othor 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 Qocuments, together with all renewals of, extensions oi, 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 axpenses 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 Platte Valley State Bank & Trust Company, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated July 23, 2012, 111 the original principal amount
<br />of 5150 ,000.00 from Borrower to Lender, together with all renewals of, extensions of, modifications ot,
<br />refinancings of, consolidations of, and substitutions for the promissory note or agreement.
<br />Persanal Properry. °The` words "Persanal Property" mean all equipment, fixtures, and pther articles ot personal
<br />property now or hereafter owned by Trustor, and now or hereafter attached or afiixed 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 procoeds (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 connection with the Indebtedness.
<br />R�nts. The word "Rents" meanS all present and future rents, revenues, income, issues, royalties, profits, and
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