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201206458 DEED OF TRUST Loan No: 81000991 (Continued) Page 7 previous fiscal year in such form and detail as Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the operation of the Property. Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be Used to interpret or define the provisions of this Deed of Trust. Merger. There shall 6e no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity,without the written consent of Lender. Governing Law. This Deed of Trust will be governed by federol law applicabfe to Lender and,to the extent not preempted 6y federal law,the laws of the State of Nebraska without regard to its conflicts of law provisions. This Deed of Trust has been accepted by Lender in the State of Nebraska: Choice of Venue. If there is a lawsuit,Trustor agrees upon Lender's request to submit to the jurisdiction of the courts ofi Hall County,State of Nebraska. Joint and Several Liability. AIl obligations of Borrower and Trustor under this Deed of Trust shall be joint and severai,and all references to Trustor shall mean each and every Trustor,and all references to Borrower shall mean each and every Borrower. This means that each Trustor signing below is responsible for all obligations in this Deed of Trust. No Waiver by Lender. Lender shall not be deemed to have waived a�y rights under this Deed of Trust unless such waiver is given in wrifing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing between Lender and Trustor,shall wnstitute a waiver of any of Lender's tights or of any of Trustor`s obligations as to any fufure transactions. Whenever the consent of Lender is required under this Deed of Trust,the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal,invalid,or unenforceable.as to any person or circumstance,that finding shall npt make the offending provision illegal,invalid, or unenforceable as to any other person or circumstance. If feasible,the oifiending provision shall be considered modified so that it becomes Iegal,valid and enforceable. If the ofFending provision cannot be so modified,it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidiry, or u�enforceability of any provision of this Deed of Trust shall not affect the legality,validity or enforcea6ility of any other provision of this Deed of Trust. Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this Deed of Trust shall be binding upon and inure to the benefit of the parties,.their successors and assigns. If ownership of the Property becomes vested in a person other than Trustor,Lender,without notice to Trustor,may deal with Trustor's successors with reference to this Deed of Trust and the Indebtedness by way of forbearance o[ extension without releasing Trustor from the obligations of this Deed of Trust or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance of this Deed of Trust. Waive Jury. All parties to'this Deed of Trust hereby waive the right Yo arry jury trial in any acYion,proceeding,or couMeeclaim brought hy any party against any other party. Waiver of Homestead F�cemption. Trustor hereby releases.and waives aIl rights and benefits of the homestead exemption laws of the State of Nebraska as to all Indebtedness secured by this Deed of Trust. DEFINRIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless specificalfy stated to the cootrary,all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural,.and the plural shall include the sirigular, as the context may require. Words and terms not otherwise defined in this �eed of Trust shail have the meanings attributed to such terms in the Uniform Commercial Code: Beneficiary. The word"Beneficiary"means Equitable Bank,and its successors and assigns. Borrower. The word "Borrower" means JOSEPH M BROWN and LORI J BROWN and includes all co-signers and co-makers signing the Note and all their successors and assigns. Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and indudes without limitation all assignment and securiry interest provisions relating to the Personal Property and Rents. Default. The word"Default"means the Default set forth i�this Deed of Trust in the section titled"Defaalt". Environmerrtal Laws. The words� "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response,Compensation,and Liabiliiy Act of 1980, as amended,42 U.S.C.Section 9601, et seq. ("CERCLA"),the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No.99-499 I"SARA"),the Hazardous Materials Transpvrtation Act;49 U.S.C.Section 1801,et seq.,the Resource Conservation and Recovery Act,42 U.S.C.Section 69D1,et seq.,or other applicable state or federal laws, rules, orregulations adopted pursuantthereto. Event of Default. The words"Event of DefaulY'mean any of the events of default set forth in this Deed of Trust in the events of default section of this Deed of Trust. Guaranty. The word"Guaranty"means the guaranty from guarentor,endorser,surety,or accommodation party to Lender,including without limitation a guaranty of alI or part of the Note. Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical,chemical or infectious characteristics,may cause or pose a present or potential hazard to human health or the environment when improperly used,trea#ed,stored,�disposed of,generated,manufaetured, transported or otherwise handled. TBe words"Hazardous Substances"are used in their very broadest sense and include without limitation any and aII hazardous or toxic substances, materials or waste as defined�by or listed under the Environmental Laws. The term"Hazardous Substances"also includes,without limitation,petroleum and petroleum by-products or any fraction thereof and asbestos. Improvements. The word "Improvements" means all existing and future improvements, liuildings, structures, mobile homes affixed on the Real Property,facifities, additions, replacements and other construction on Lhe Real Property. Indebtedness. The word "Indebtedness" means all. principal, interest, and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of,. modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Trustor's obligations or expenses incurred by Trustee or Lender to enforce Trustor's obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.