201209604 - Laserfiche WebLink

Browse

201209604 DEED OF TRUST Loan No: 81001627 (ContlnUed) Page 7 entity,it is not necessary for Lender to inquire into the powers of any of the officers,directors,partners,members, or other agents acting or purporting to act on the entity's 6ehaff,and any obligations made or created in reliance upon the professed exercise of such powers shall be guaranteed under this Deed of Trust. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless sueh waiver is given in writing 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 waivet by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender'S right othetwise 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 6etween Lender and Trustot,shall constitute a waiver of any of Lender's rights or of any of Trustor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed af Trust,the granting of such consent by Lender in any instance shall not cons2itute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or wi#hheld in the sole discretion of Lender. Severebility. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal,invalid,or unenforceaple as to any circumstance, that finding shall not make the offending provision illegal; invalid, or unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shalf be considered deleted from this Deed of T�ust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality,validity or enforceability 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 or extension without releasing T�ustor 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 to any jury trial in any action,proceeding,or courrterclaim brought by any party against any other party. Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws oi the State of Nebraska as to all Indebtetlness secured by this Deed of Trust. DEFINITIONS. The following capitalized wortls and terms shall have the following meani�gs when used in this Deed of Trust. Unless specifically stated to the contrary,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 plutal, and the plural shall include the singular, as the context may reqwre. Words and terms not otherwise defined in this Deed of Trust shall have the meaning,s att,.�ibuIed:�to�u_c,h.,,,tecros.in,?he Uniform Commercial Code: Beneficiary.,The wqrd�,"Ber�e,fiicia'r�Y, rpeans�Equitable Bank,and its successors and assigns. Borrower. ,��heg�rd"Borr.awet"�m�ans.D��:&A INVESTMENTS,LLC.;Richard H.Baasch; and Arlene M.Baasch and ineludes a�srgrters�nd°'C'o'r'�'a�Ys"srgning the Note and all their successors and assigns. Deed of Trust. The words "�eed of TrusY" mean this Deed of Trust among Trustot, Lender, and Trustee, and includes without limitation all assignment and security iMerest provisions relating to the Personal Property and Rents. Default. The word"Default"means the Default set forth in this Deed of Trust in the section titled"Default". En�ironmental Laws. The words "Environmental Laws" mean any and. all state, federal and local stahrtes, regWations and ordinances relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response,Compensation,and Liability Act of 1980,as amended,42 U.S.C. Section 9601,et seq. ("CERCLA'),the Superfund AmendmeMs and Reauthorization Act of 1986, Pub. L. No.99-499("SARA"),the Hazardous Materials Transportation Act,49 U.S.C.Section 1807,ei seq.,the Resource Conservation and Recovery Act.,42 U.S.C.Section 690�1,et seq.,or other applicatile stafe oe federal laws,rules, or regulations adopted pursuant thereio. � Event of Default. The words"Event of Default"mean a�y of the events of default set forth in thfs Deed of Trust in the events of default section of this Qeed of Trust. Guaranty. The word"Guaranty"means the guaranty from guarantor,endorser,surety,or accommodation party to Lender,including wiihout limitation a guaranty of all 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,treated,smred,disposed of,generated�,manufactured, transported or otherwise handled. The words"Hazardous Substances"are used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by o�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, buildings, structures, mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real Property. Inde6tedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or Related Dacuments, together with all renewals of, extensions of, modifications of, consolidations of and su6stitutions 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. Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provision, together with all interest thereon and all amounts that may be indirectly secured 6y the Cross-Collateralization provision of this Deed of Trust. Lender. The word"Lender"means Equitable Bank,its successors and assigns. Note. The word "Note" means the promissory note dated November 13, 2012, in the original principal amount of$100,535.75 from Borrower to Lender,together with all renewals of,extensions of,modifications of,refinancings of,consolidations of,and substitutions for the promissory note or agreement. Personal Property. The words "Personal Property" mean afl equipment, fixtures, and other articles of personal property now or hereafter owned by Trustor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all replacements of, and all subs[itutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of premiums)from any sale or other disposition of the Property. Property. The word"Property"means collectively the Real Property and the Personal Property.