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;�, �� . .. �, 20120643�
<br />� - DEED OF TRUST
<br />(Continued)
<br />Page 7
<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 conaent 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 any provision of this Deed of Trust to be Illegal, invalid, or
<br />unenforceable as to any person or circumatance, thet finding shall not meke the offending provision illegal, invalid,
<br />or unenforceable as 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 moditied, 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 shall not effect the legelity, validity or enforceability of any
<br />other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any limitetions 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 thia 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 />INaive Jury. All parties to this Deed of Trust hereby walve the rlght to any jury Viel 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 rights and benefits of the homestead
<br />exemption laws of the Stete of Nebraska 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 in this Deed of
<br />Trust. Unless specifically stated to the contrary, all references to doller 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 Commercial Code:
<br />Beneficiary. The word "Beneficiary° means Exchange Bank, and its auccessors and assigns.
<br />Borrower. The word °Borrower° means GORDON H PEDERSEN and PAMELA M PEDERSEN and includes all
<br />co-signers and co-makers signing the Note and all their successors and essigns.
<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 securiry 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 Laws. The words "Environmental Laws° mean eny and all state, fe eral end local statutes,
<br />regulations and ordinences relating to the protection of human �kr�e�°'tE� enwron ent, including without
<br />limitation the Comprehensive Environmental Respons�;°Gompe aiid Clefiili"ty Act o� 1980, as amended, 42
<br />U.S.C. Section 9601, et seq. ("CERCLA°1, the Supe�f�f�i� Ame�rr�t►is �8"nd Reautt�orizati0n Act of 1986, Pub. L.
<br />No. 99-499 (°SARA"), the Hazardous Materiels Trens�)ortafion �ection 180"1, et seq., the Resource
<br />Conservation and Recovery Act, 42 U.S.C. Section 650�;..�li�eq:, ar ofher 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 default set forth in this Deed of Trust in
<br />the events of default section of this Deed of Trust.
<br />Guararny. The word "Guaranty° meana the guaranty from guarantor; endorser, surety, or accommodation party to
<br />Lender, including without limitation a guarenty 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 human health or the environment when improperly used, treated, stored, disposed of, generated, manufectured,
<br />transported or otherwise handled. The words °Hazardous Substances° are used in their very broadest sense and
<br />include without limitation any end all hazardous or toxic substances, materials or waste as defined by or listed
<br />under the Environmentel Laws. The term °Haaardous Substances° also includes, without limitation, petroleum and
<br />petroleum by-products or any fraction thereof and asbestos.
<br />Improvaments. 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 all renewals of, extensions of, modifications of,
<br />consolidations of end substltutions for the Note or Related Documents and any emounts expended or advanced by
<br />Lender to discharge Trustor's obligations 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 thet may be indirectly secured by the
<br />Cross-Collateraliaetion provision of this Deed of Trust.
<br />Lender. The word °Lender" means Exchenge Bank, its successors and assigns.
<br />Note. The word °Note° means the promissory note dated August 2, 2012 in the original principal amount
<br />Of $40,000.00 from Trustor to Lender, together with ell renewals of, extensions of, modifications of,
<br />refinancings 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 "Personal Property" mean all equipment, fixtures, and other articles of personal
<br />property now or hereafter owned by Trustor, and now or hereafter attached or affixed to the Real Property;
<br />together with all eccessions, parts, and additions to, all replacements of, and all substitutions for, any of such
<br />property; and together with all proceeds (including without limitation all insurance proceeds and refunds of
<br />premiums) from any sele 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 />Releted 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, egreements end documents, whether now or hereafter
<br />existing, executed in connection with the Indebtedness.
<br />Rents. The word °Rents° means all present end future rents, revenues, income, issues, royalties, profits, and
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