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201209012
<br /> DEED OF TI��UST
<br /> Loan iVo: 81007486 (Continued) Page 7
<br /> Severability_ If a couri of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or
<br /> unenforceable as to any person or circumstance, that finding shall not make the offending provision illegal, invalid,
<br /> or unenforceable as to any other person or circumstance. Ifi fieasible, the offending provision shall be considered
<br /> modified so that it becomes Iegal, valid and enforceable. If tV�e 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 ofi any provision ofi this Deed of Trust shall rvot 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 th.is Deed of Trust on transfer of Trustor's interest,.
<br /> this Deed of Trust shall be binding upon and inure to the bec�efiit 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 ofi Trust and the Indebtedness by way of forbearance or
<br /> extension without releasing TrusYor from the obligations of this Deed of Trust or liabiliiy under the Indebtedness.
<br /> � Time is of the Essence_ Time is of the essence in.the perform,ance ofi this Deed o#Trust.
<br /> Waive Jury. All parties to this Deed of Trust hereby waive t�e right 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 rights and benefiits of the nomestead
<br /> exemption laws of tne State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br /> DEFINITIONS. The following capitalized words and terms shall ha�ve 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 lawfiul 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 ofi Trust shall
<br /> have the meanings attributed to such terms in Yhe Uniform Commercial Code:
<br /> Beneficiary. The word "Beneficiary" means Equitable Bank, and its successors and assigns.
<br /> Borrower. The word "�Borrower" means GARTH EDWARDSON and includes aIl co-signers and co-makers signing
<br /> 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 /> indudes without limitation all assignment and security inter�st provisions relating to the PersonaF Property and
<br /> Rents.
<br /> Default. The word "Defiault" means the Default set forth in this Deed ofi Trust in the section titled "Default".
<br /> Environmental Laws. The� words "Environmental Laws" mean any and all state, fiederal and local statutes,
<br /> regulations and ordinances relating to the protection of F�uman health or the environment, including without
<br /> limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42
<br /> U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br /> No. 99-499 ("SARA"),.the Hazardous Materials Transportatio�n Act,49 U_S.C..Section "180'I,et seq.,the Resource
<br /> Conservation and Recovery Act, 42 U.S.C. Section 6907, et seq., or other applicable state or fiederal 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 fortn in this Deed of Trust in
<br /> the events of default section of this Deed of Trust_
<br /> Guaranty. The word "Guarenty" means the guaranty from guarantor, endorser,surety,or accommodation party to
<br /> Lender,including without li�mitation a guaranty ofi all or part of the Note.
<br /> Hazardous Substances_ The words "Hazardous Substances" mean materials that, because of their quantity,
<br /> concentration or physical, chem7cal 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, generaied, manuFactured,
<br /> transported or otherwise handled. The words ^Hazardous Substances" are used in their very broadest sense and
<br /> indude without limitarion any and_aJl.Fi,azardous or toxic substances, matarials or waste as defined by or listed
<br /> ..... �.�. .
<br /> under the Environrt�ental,Lav�s:..�The teren ^Hazardous Substances" also includes,.witnout I�imitation, petroleum and
<br /> petroleum���by-prod�cts or a.ny.f.raction thereof and asbestos. . .
<br /> Improuements i he��woaf Tfmmproygm.enls^ means aIl exist"sng and future improvements, buildings, structures,
<br /> mobile""h"o"rries"'a"�fized�on the Real Property, facilities, additions, replacements and other construction on the Real
<br /> Property. , � " � . �
<br /> Indebtedness. Tne word "Indebtedness" means all princi�pal, interest,�and other amounts, costs and expenses
<br /> payable under the Note or Related Documents, together woth aIl renewals ofi, e�c[ensions of, modifications of,
<br /> consolidations of and substitutions for the Note or F�elated Documents and any amounts expended or advanced by
<br /> Lender to discharge Trustor's obligations or� expenses incurred by Trustee ar 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 limifiation, Indebtedness includes the future advances set forth in the Future Advances
<br /> provision of th�is Deed ofi Trust,together with all interest thereon.
<br /> Lender. The word "Lender" means Equitable Bank, its successors and assigns.
<br /> Note_ The word "Note" means the promissory note date�d October 22, 2012, in the o�iginal p1'inClpal
<br /> amount of $55�721.99 firom Borrower to Lender, together with all tenewals of, e�ctensions ofi, modifications
<br /> of, refinancings of, consolidations of,and substitutions for the� promissory note or agreement.
<br /> Personal�Property. The words "Personal Property" mean all equipment, fixtures, and other articles ofi personal
<br /> property now or hereafter owned by Trustor, and now or hereafter attached or affixed to the Real Property;
<br /> together with aIl accessions, parts, and additions to, all replacements of, and all substitutions fior, any of such
<br /> property; and together with all proceeds (including without limitation all insurance proceeds and refunds of
<br /> premiums) firom any sale or other disposition of the Property.
<br /> Property. The word "Property" means collectively the Real Pr�operty and Yhe Personal Property.
<br /> Real Property. The words "Real Property^ mean the real property, interests and rfghts, as further described in tnis
<br /> Deed of Trust.
<br /> Related Documents_ The words "Related Documents" mean all promissory notes,. credit agreements, Ioan
<br /> agreements, environmental agreements, guaraniies, security agreements, mortgages, deeds of trust, security
<br /> deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafiter
<br /> existing, executed in conne�ction with the Indebtedness.
<br /> Rents_ The word "Rents" means all presenC and future rents, revenues, income,. issues, royalties, profits, and
<br /> ottier benefits derived from the Property.
<br /> Trustee. The word "Trustee" means Equitable Bank (Grand Island Region?, whose address is 1"I 3-1 9 5 N Locust
<br /> St; PO Box 160, Grand Island, NE 68802-01 60 and any substitute or successor trustees.
<br /> Trustor. The word "Trustor" means GARTH L EDWARDSON and TARA S EDWARDSON.
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