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201210678
<br /> DEED OF TRUST
<br /> Loan No: S'1001791 (COntinued) Page 7
<br /> unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enfiorceability of any
<br /> other provision ofi this Deed of Trust.
<br /> Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest,
<br /> this Deed ofi Trust shall be bind�ing upon and inure to the benefiit ofi the parties, their successors and assigns. If
<br /> ownership of the Prope�rty becomes vested in a person other than Trustor, Lender, withoui notice to Trustor, may
<br /> deal witn Trustor's successors with reference to this Deed of Trust and the Indebtedness by way ofi forbearance or
<br /> extension without releasing Trustor from tne obtigations of this Deed of Trust or liability under the Indebtedness.
<br /> Time is of the Essence. Time is of tne essence in the performance of this Deed of Trust.
<br /> Waive Jury. Atl parties to tF�is 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 rthe State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br /> DEFINITIONS. The following capitalized words and terms shafl have 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 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 Equitable Bank, and its successors and assigns.
<br /> Borrower_ Tne word "Borrower" means WALTER C SOREN.SEN and LAURA J SORENSEN and includes all
<br /> co-signers and co-makers signing the Note and all thei�successors and assigns.
<br /> Deed of Trust. The words "Deed of Trust" mean this Deed of Trusi 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 /> Default_ The word "Default" means the Defiault set forth in this Deed of Trust in the section titled "Defiault".
<br /> Environmental Laws. The words "Envirorimental Laws" mean any and all state, fede�al and local statutes,
<br /> regulations and ordinances relating to the protection of human health or the� environment, including without
<br /> limitation the Comprehensive Environmental Response, Co��mpensation, and Liability Act of '1980, as amended, 42
<br /> U.S.C. Section 9601, et seq. ("CERCLA"), the Superfu�.nd Amendments and Reauthorization Act of '1986, 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 6909, et seq., or other applicable state or federal laws, rules,
<br /> or regulations adopted pursuant thereto.
<br /> Event of Default. The words "Event of Default" mean a�ny of the events of default set fiorth in tnis Deed of Trust in
<br /> the events ofi default section of this�Deed of Trust.
<br /> Guaranty. The word "Guaranty" means the guaranty from guara:ntor, endorser, surety, or accommotlation party to
<br /> Lender, including without limitation a guaranty of all or part of the Note.
<br /> Hazardous Substances. The words "Hazardous Substances" mean materials tnat, 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 tne environment when improperly used, treated, stored., disposed of, generated, manufactured,
<br /> transported or otherwise handletl. The words "Hazardous Substances" are used in their very broadest sense and
<br /> include wiihout limitation any and all hazardous or toxic substances, materials or waste as defi:ned by or listed
<br /> under the Environmental Laws. The term "Hazardous Substances" also indudes, without Iimitation, petroleum and
<br /> petroleum by-products or any fraction thereof and asbestos.
<br /> Improvements. The word "Improvements" means all existing and future improvements, buildings, strucwres,
<br /> mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real
<br /> Property.
<br /> Indebtedness. The word "Ini9ebtedness" means all principal, interesi, and other amounts, costs and expenses
<br /> payable under the Note -or Rela2ed Documents, together with all �enewals of, extensions ofi, modifications of,
<br /> consolidations of�and substitutions for the Note or RelaYed Documents and any amounis expended or advanced by
<br /> Lender to. discharge Trustor"S o.bligetions or expenses incurred by Trustee or Le.nder Yo enforce Trustor's
<br /> obligations-undeY"ifiis�Deed of Trust,. together with interest on such amounts a5 provided in this Deed of Trust.
<br /> Specifically, wiYhout limitation, Indebtedness includes the future advances set forth in ihe Future Advances
<br /> provision, together with all interest thereon and all am�ounts thai may be indirectly secured by the
<br /> Cross-Collateralization provision of this Deed ofi Trust.
<br /> Lender. The word "Lender" means Equitable Bank, its successors and assigns.
<br /> Note. The word "Note" means the promissory note dated December 14, 2012, in th6 original principal
<br /> amount of 540,000.00 from Trustor to Lender,together with all renewals of, extensions of, modifications of,
<br /> refin:ancings of, consolidations of, and substitutions for the promissory note or agreement.
<br /> Personal Property. The words "Personal Property" mean all equipment, fiMures, and other articles of personaf
<br /> property now or hereafter owned by Trustor, and now or hereafter attached or affixed to the Real Property;
<br /> together with all accessions; 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 pro�ceeds and refunds of
<br /> premiums) from any sale or other disposition of the Property.
<br /> Property. The word "Property" means collectively tne 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 /> Related Documents. The words "ftelated Documents" mean all promissory notes, credit agreements, loan
<br /> agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trusi, security
<br /> deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hePeafter
<br /> existing, executed in connection with the Indebtedness.
<br /> Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and
<br /> other benefits derived from the Property.
<br /> Trustee. The word "Trustee" means Equitable Bank (Grand Islantl Region), whose address is 113-1'Ib N Locust
<br /> St; PO Box 7 60, Grand Island, NE 68802-0160 and any substitute or successor trustees.
<br /> Trustor. The word �"Trustor" means WALTER C SORENSEN and LAURA J SORENSEN..
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