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201302663
<br /> DEED OF TRUST
<br /> (Continued) Page 7
<br /> this Deed of Trust shall be binding upon and inure to the benefit of the parties,their successors end 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 SuCCeCSOrs 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. 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 following capitalized words and terms shall 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 Exchange Bank,and its successors and assigns.
<br /> Borrower. The word "Borrower" means RHOADS ENTERPRISES INC and includes all co-signers and 00-makers
<br /> signing the Note and all their Sutcesacrs and assigns.
<br /> Deed of Trust. The 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 /> Default. The word"Default"means the Default set forth In this Deed of Trust in the section titled"Default".
<br /> Environmental Laws. The words "Environmental Laws" mean any and all state, federal 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,Compensation,and Liability Act of 1980,as amended,42
<br /> U.S.C.Section 9601,at seq.i"CERCLA"),the Superfund Amendments and Reauthorization ACt Of 1986, Pub.L.
<br /> No.99-499("SARA"),the Hazardous Materials Transportation Act,49 V.S.C.Section 1801,at seq.,the Resource
<br /> Conservation and Recovery AOt,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 Default"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 /> Guaranty. The word"Guaranty"means the guaranty from guarantor,endorser,Surety,or accommodation party to
<br /> Lender,including without limitation a guaranty of all or partof-the-Note, .,—..�
<br /> Hazardous Substances. The words "Hazardous Substances" mean materials'tfikt,*ca a of their quantity,
<br /> concentration or physical, chemical Or infectious charsgteriatica,may cause or;poes a present or potential hazard
<br /> to human health or the environment when Improperly u , ted,stored,disposed of,-ganerated,manufactured,
<br /> transported or otherwise handled. The Words"Hazardous Substances'are used In their very broadest sense end
<br /> include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed
<br /> under the Environmental Laws. The term"Hazardous Substances"also includes,without limitation,petroleum and
<br /> petroleum by-products or any fraction thereof and asbestos.
<br /> Improvements. The word "Improvements" means all existing and future Improvements, buildings, structures,
<br /> mobile homes affixed on the Real Property, facilities,additions, replacements and other construction on the Real
<br /> Property.
<br /> Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, Costs and expenses
<br /> payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of,
<br /> consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by
<br /> Lender to discharge Trustor's obligations or expenses incurred by Trustee or 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 limitation, Indebtedness includes the future advances set forth In the Future Advances
<br /> provision, together with all interest thereon and all amounts that may be indirectly secured by the
<br /> Crass-Collatsralization provision of this Deed of Trust,
<br /> Lender. The word"Lender"means Exchange Bank,its successors and assigns.
<br /> Note. The word"Note"means the promissory note dated March 26, 2013,in the original principal amount
<br /> of $80,000.00 from Trustor to Lender, together with all renewals of, extensions of, modifications of,
<br /> refinancings of,consolidations of,and substitutions for the promissory note or agreement,NOTICE TO TRUSTOR:
<br /> THE NOTE CONTAINS A VARIABLE INTEREST RATE,
<br /> Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles Of personal
<br /> property now or hereafter Owned by Trustor, and now or hereafter attached or affixed to the Real Property;
<br /> together with all accessions, pans, 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 proceeds and refunds of
<br /> premiums)from any sale or other disposition of the Property.
<br /> Property. The word"Property"means collectively the 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 "Related Documents" mean all promissory notes, credit agreements, loan
<br /> agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security
<br /> deeds, collateral mortgages, and all other Instruments, agreements and documents, whether now Or hereafter
<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 Exchange Bank , whose address is PO Box 5793.Grand Island,NE 68802
<br /> and any substitute or successor trustees.
<br /> Trustor. The word'Trustor"means RHOADS ENTERPRISES INC.
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