|
201206263
<br /> DEED OF TRUST
<br /> Loan No: 872058705 (Contenued) Page 6
<br /> t�ustee,and the instrurnent shafl be executed and acknowledged by all the beneficiaries under this Deed of Trust or
<br /> their successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the
<br /> title, power, and duties conferred upon the Trustee in this Deed of Trust and by appiicable Iaw. This procedure fior
<br /> substitution of T�ustee shall govern to Yhe exciusion of all other provisions for substituiion.
<br /> NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any nofice of default
<br /> and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received
<br /> by telefiacsimile (unless otherwise required by law), when deposiied with a naiionally recognized overnight courier, or, if
<br /> mailed, when deposiied in the United States mail, as first class, certified or registered mail po5tage prepaid, directed to
<br /> the addresses shown near the beginning of tnis Deed of Trust. All copies of notices ofi foredosure from the holder of
<br /> any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning of
<br /> this Deed of Trust Any person may change his or her address for notices under this Deed of Trust by giving formaf
<br /> written notice to the other person or persons, specitying that the purpose ofi the notice is to change the person's
<br /> address. For notice purposes,Ttustor agrees to keep Lender informed at all times of Trustor's current address. Unless
<br /> otherwise provided or required by law, if there is more than one Trustor, any notice given by Lender to any Trustor is
<br /> deemed Yo be notice given to all Trustors. It will be Trustor's responsibiliiy to tell the others of the notice from Lender.
<br /> MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part ofi this Deed of Trust:
<br /> Amendments. What is written in this Deed of Trust and in the Related Documents is Trustor's entire agreement
<br /> with Lender concemi�ng the matters coveted by this Deed of Trust. To be effective, any change or amendment to
<br /> this Deed of Trust must be in writing and must be signed by whoever will be bound or obligated by the change or
<br /> amendment.
<br /> Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be
<br /> used to interpret or define the pYovisions ofi this Deed of Trust.
<br /> Merger. Tnere shall be no merger of the interest or estate created by this Deed of Trust wiifi any other interest or
<br /> estate in the Property at any time held by or for the benefiit of Lender in any capacity,without the written consent
<br /> of Lender.
<br /> Goveming Law. This Deed of Trust will be governed by federel law applicable to Lender and. to the e�ctent not
<br /> preempted by federal law.the laws of the Stata of Nebraska without regard to its conflicYs of law provisions_ This
<br /> Deed of Trust has been accepted by Lender in the State of Nebraska.
<br /> Choice of Venue. Ifi there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction ofi the
<br /> courts ofi Hall County, State of Nebraska.
<br /> Joint and Several Liability. All obligations of Trustor under this Deed of Trust shall be joint and several, and all
<br /> refierences to Trustor shall mean each and every Trustor. This means that each Trustor signing below is
<br /> responsible fior all obl:igations in this Deed of Trust.
<br /> No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under tnis Deed of Trust
<br /> unless Lender does so in writing. The fact that Lender delays or omits to exercise any right will not mean that
<br /> Lender has given up that right. If Lender does agree in writing to give up one of Lender's rights, that does not
<br /> mean Trustor will not nave to comply with the other provisions of this Deed ofi Trust. Trustor also understands
<br /> that if Lender does consent to a request, that does not mean that Trustor wi❑ not have to get Lende�'s consent
<br /> again if the situation happens again. Trustor further understands that just because Lender co�nsents to one or more
<br /> ofi Trustor's requests, ihat does not mean Lender will be requi.red to consent to any of Trustor's future requests.
<br /> Trustor waives presentment,demand for payment, protest, and notice of disnonor.
<br /> Severability. If a cour[finds that any provision of this Deed of Trust is not valid or sho��uld not be enforced, that
<br /> fact by itselfi will not mean that the rest of this Deed of Trust will not be valid or enfiorced. Therefo:re, a court will
<br /> enforce the rest of the provisions of this Deed of Trust even ifi a provision of this Deed of Trust may be found to be
<br /> invafid or unenforceable.
<br /> Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of T�ustor's interesi,
<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 ihan 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 ofi Trust or liability under the Indebtedness.
<br /> Time is of the Essence_ Time is of the essence in the perfio�mance of this Deed of Trust.
<br /> Waive Jury. All parties to this Deed of Trust hereby waive the tight to any jury trial in any action. proceeding, or
<br /> counterclaim brought by any party against any other party.
<br /> Waiver of Homestead Exemption_ Trustor hereby releases and waives all ri�.hts and benefits of the homestead
<br /> exemption laws of the State of Nebraska as to all Inde�btedness secured by this Deed of T�ust.
<br /> DEFINITIONS. The following words shall have tne following meanings when used in this Deed of Trust:
<br /> Beneficiary. The word "Beneficiary" means Equitable Bank, and its successors.and assigns.
<br /> Borrower. The word "Borrower" means BRADLEY J FOSTER and MICHELLE R FOSTER and includes all co-signers
<br /> and co-makers signing the Credit Agreement and all their successors and assigns.
<br /> Credit Agreement. The words "Credit Agreement" mean the credit agreement dated July 24, 201 2, with credit
<br /> 111711t of 538,�00.00 from Trustor to Lender, together with all renewals ofi, extensions of, modifications of,
<br /> refinancings of, consolidations ofi, and substitutions for ihe promissory note or agreement. The maturity date of
<br /> this Deed ofi Trust is July 24, 2017. NOTICE TO TRUSTOR: THE CREDIT AG�REEMENT CONTAWS A VARIABLE
<br /> INTEREST RATE.
<br /> Deed of Trust. The words "Deed of Trust" mean this Deed. of Trust among Trustor, Lender, and Trustee, and
<br /> includes without limitation alI assignment and security interest provisions relating to the Personal Property and
<br /> Rents.
<br /> Environmental Laws. The words "Environmental Laws" mean any and all s2ate, federal and local statufes,
<br /> regulations and ordinances relating to the protection of human health or the environment, including without
<br /> limitation the Comprehensive Environmental Response, Compensatiion, and Liability Act of '1980, as amended, 42
<br /> U.S.C. Section 960'I, et seq. ("CERCLA"), tne Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br /> No. 99-499 ("SARA"),the Hazardous Materials Transportateon Act,49 U.S.C. Section 1801, et seq.,the Resource
<br /> Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or oiher applicable state or federal laws, rules,
<br /> or regulations adopted pursuant thereto.
<br /> Event of Default. The words "Event of Default"mean any of the events of defiault set forth in this Deed of Trust in
<br /> the events of default section of this Deed ofi Trust.
<br /> Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens
<br /> provision of this Deed of Trust.
<br /> Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity,
<br />
|