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201209875
<br /> DEED OF TRUST
<br /> Loan No:872058877 (Continued9 Page 6
<br /> trustee,and the instrument shall 6e 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 all the
<br /> title,power,and duties conferied upon the Trustee in this Deed of Trust and by applicable law. This procedure for
<br /> substitirtion of Trustee shall govern to the exclusion of all other provisions for substitution.
<br /> NOTICES. Any notice required to be given under this Deed of Trust; induding without limitation any notice of default
<br /> and any notice ofi sale shall be given in writing,and shall be effective when actually delivered,when actually received
<br /> by telefacsimile(unless otherwise required by law),when deposiYed with a nationally recognized overnight courier,or,if
<br /> mailetl,when deposited in the United States mail,as first class,certifiied or registered mail postage prepaid,directed to
<br /> the addresses shown near the beginning of this Deed of Trust. AII copies of notices of foreclosure from the holder of
<br /> any lien which has priority over this Deed of Trust shali be sent to Lender's address,as shown near the tieginning of
<br /> this 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, specifying that 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 TrustoF,any notice given by Lentler to any Trustor is
<br /> deemed to 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 miscellaneous provisions are a part of this Deed of Trust:
<br /> Amendments. What is written in this Deed of Trust and in the Re{ated Documents is Trustor's entire agreement
<br /> with Lender concerning the matters covered by this Deed of Trust. To be effective,any cha�ge or amendme�t to
<br /> this Deed of Trust must be in writing and must be signed by whoever will be bound or obligated by the change or
<br /> amendment.
<br /> Gaption Headings. Caption headings in this Deed of TrusY 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 shall be no merger of the interest or estate created by this Deed of Trust with any other interest or
<br /> estate i.n 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 6y fedeeal law applicable to Lender and,ta the exteM not
<br /> preempted by federel law,the laws of the State of Nebreska without regard to its conflicts of law provisions. This .
<br /> Deed of Trust has been 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 oi Nebraska.
<br /> Joint and Severef Liability. All obligations of Trustor under this Deed of Trust shall be jo�int and several,and all
<br /> references to Trustor shall mean each and every Trustor. This means that each Trustor siqning below is
<br /> responsible for all obligations in this Deed of Trust.
<br /> No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under tkis Deed of Trust
<br /> unless Lender does so in writing. The fact thax Lender tlelays or omits to exercise any right wifl 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 the other provisions of this Deed of Trust. Trustor also understands
<br /> that if Lender does consent to a request,that does not mean that Trustor will not have to get Lender's consent
<br /> again if the situation happens again. Trustor further understands that just because Lender consents to one or more
<br /> of Trustor's requests,that does not mean Lender will tie required to consent to any of Trustor's future requests.
<br /> Trustor waives presentment,demand for payment,protest,and notice of dishonor.
<br /> Severa6ility. 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 rest of this Deed of Trust will not be valid or enforced. Therefore;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 Lie found to 6e
<br /> invalid or unenforceable.
<br /> Successors and Assigns. Subject to any limitations sta�ted in this Deetl 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 bewmes vested in a person other than Trustor,Lender,without notice to Trustor,may
<br /> deal with Trustor's successors with reference to this 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 /> Waive Jury. AII parties to this Deed of Trust herehy waive the right to any jury trial in any actian,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 following words shall have the following meanings when used in this Deed of Trust:
<br /> Beneficiary. The word"Beneficiary"means Equitable Bank,and its successors and assigns.
<br /> Borrower. The word "Borrower" means JOHNNY P PAPE and PEGGY J PAPE and includes all co-signers and
<br /> 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 19, 2012,with
<br /> credit limit of$40,000.00 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 19, 2017. NOTICE TO TRUSTOR: THE CREDIT AGREEMENT CONTAINS A
<br /> VARIABLE INTEREST RATE.
<br /> Deed ofi 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 /> Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes,
<br /> regulations and ordina�ces relating to the protection of human 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. f"CERCLA"1,the Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br /> No.99-499("SARA"1,the Hazardous Materials Transportation Act,49 U.S.C.Section 1807,et seq.,the Resource
<br /> Conservation and Recovery Act,42 U.S.C.Sectio�6901,et seq.,or other applicabte sYate or federal laws,rules,
<br /> or regulations adopted pursuant thereto.
<br /> Event of Defauk. The words"Event of�efault"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 /> Existing Indebtedness. The words"Existing Indebtedness" mean the indebtedness desc�ibed 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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