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201209308
<br /> DEED OF TRUST
<br /> Loan No: 872058857 (COntlnued) Page 6
<br /> trustee, and the instrument shall 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 ail the
<br /> title, power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for
<br /> substitution of Tr�stee shall govern to the exclusion of all other provisions for substitution.
<br /> NOTICES. Any noti.ce required to be given under this Deed of Trust, including without limitation any notice of default
<br /> and any notice of sale shall be given in writing, and shall be effectiye when actually delivered, wnen actually received
<br /> by telefacsimile (unless otnerwise required by law), when deposited with a nationally recognized ovemight courier, or, ifi
<br /> mailed, when deposited in the United States mail, as first class, ce�rtifiied or registered mail postage prepaid, directed to
<br /> the addresses shown near the beginning of this Deed of Trust. All copies of notices ofi foreclosure firom the holder of
<br /> any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown nea�the beginning of
<br /> thi5 Deed of Trust. Any person may change his or her address for notices under this Deed of Trust by giving formal
<br /> written notice to the other person or persons, speciiying ihat the purpose of the notice is to change the person's
<br /> address. For notice purposes,Trustor 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 ta be notice given to all Trustors. It will be Trustor's responsibility to tell the others of the notice from Lender.
<br /> MISCELLANEOUS PROVISIONS. The following misceUaneous provisions are a part of this Deed of Trust:
<br /> Amendments. What is written in this Deed of Trust and in the Related Documents is Trusior's entire agreement
<br /> with Lender cortcerning the matters covered by tnis Deed of Trust. To be effective, any change or amendment to
<br /> this Deed of Trust must be in writing and must 6e 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 provisions of this Deed of Trust
<br /> Merger. There shafl be no merger of the interest or estate created by this Deed of Trust with any other interest or
<br /> estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent
<br /> of Lender.
<br /> Governing Law. This Deed of Trust will be governed by federal law applicable to Lender and, to the e�ctent not
<br /> preempted by federal law,the laws of the State of Nebraska without regard to its conflicts of law provisions. This
<br /> Deed of Trust has beert accepted by Lender in the State of Nebraska.
<br /> Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the
<br /> courts of Hall County, State of Nebraska.
<br /> Joint and Several Liability.. All obligations of Trustor u'nder this Deed of Trust shall be joint and several, and all
<br /> � references to Trustor shall mean each and every Trustor. This means that eacF� Trustor signing below is
<br /> responsible for all obFigations in this Deed of Trust.
<br /> No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under this 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 have to comply with ihe other provisions ofi tnis Deed of Trust. Trustor also understands
<br /> that if Lender does consent to a request, that does not mean tnat Trustor will not have to get Lender's consent
<br /> again if the situation happens again. Trustor fiurther understands that just because Lender consents to one or more
<br /> of Trustor's requests, thai does not mean Lender will be required to consent to any of Trustor's fuwre requests.
<br /> Trustor waives presentment, demand for payment, protest, and notice of dishonor.
<br /> SeverabiliYy_ If a court finds that any provision of this Deed of Trust is not valid or should not be enforced, that
<br /> fact by itself will not mean that the�est of this Deed of Trust will not be valid or enforced. Tnerefore, a court will
<br /> enforce the rest of the provisions of this Deed of Trust even if a provision of this Deed of Trust may be found to be
<br /> invalid or unenforceable.
<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 bind�ing upon and inure to the benefit of the parties, their sucoessors 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 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 /> Waive Jury. All parties to this Deed of Trust hereby waive the 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 benefits of the homestead
<br /> exemption laws of the State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br /> DEFINITIONS. The fiollowing words shall have the following mea.nings when used in this Deed of Trust:
<br /> Beneficiary. The word "Beneficiary" means Equitable Bank, and its successors and assigns.
<br /> Borrower. The word "Bbrrower" means PATRICK C LARSON and ALISON M LARSON 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 November 1, 20"12, with
<br /> credit lirnit of $56,000.00 from Trustor to Lender,together with all renewals of, extensions of, modifications
<br /> of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. The maturity date of
<br /> this Deed of Trust is November 'I, 20'17. NOTICE TO TRUSTOR: THE CREDIT AGREEMENT CONTAINS A
<br /> VARIABLE INTEREST RATE.
<br /> Deed of Trust. Tne words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and
<br /> includes without limitation all assignment and security interest provisions relating to the Personal Property and
<br /> Rents.
<br /> Environmentat Laws. The words "Environmental Laws�" mean any and all state, federal and local statutes,
<br /> regulations and ordinances �elating to the protection of human health or the e�.nvironment, including without
<br /> limitation.the Comprehensive Environmenial Response, Compensation, and Liability Act of 1980, as amended, 42
<br /> U.S.C. Section 960'I, et seq. ("CERCLA"), the Superfund Ame;ndments and Reauthorization Act of 7986, Pub. L.
<br /> No. 99-499 ("SARA"),the Hazardous Materials Transportation 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 other applicable state or federal laws, rules,
<br /> or regulations adopted pursuant thereto.
<br /> Event of Default. The words "Event of Defiault" mean any of the events ofi 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 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,
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