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201304731
<br /> DEED OF TRUST
<br /> Loan No: 101266453 (Continued) Page 9
<br /> Annual Reports. If the Property is used for purposes other than Trustor's residence, Trustor shall furnish to
<br /> Lender, upon request, a certified statement of net operating income received from the Property during Trustor's
<br /> previous fiscal year in such form and detail as Lender shall require. "Net operating income" shall mean all cash
<br /> receipts from the Property less all cash expenditures made in connection with the operation of the Property.
<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 shall 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 extent 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 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 of Nebraska.
<br /> Joint and Several Liability. All obligations of Borrower and Trustor under this Deed of Trust shall be joint and
<br /> several, and all references to Trustor shall mean each and every Trustor, and all references to Borrower shall mean
<br /> each and every Borrower. This means that each Trustor signing below is responsible for all obligations in this Deed
<br /> of Trust. Where any one or more of the parties is a corporation, partnership, limited liability company or similar
<br /> entity, it is not necessary for Lender to inquire into the powers of any of the officers, directors, partners, members,
<br /> or other agents acting or purporting to act on the entity's behalf, and any obligations made or created in reliance
<br /> upon the professed exercise of such powers shall be guaranteed under this Deed of Trust.
<br /> No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such
<br /> waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right
<br /> shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust
<br /> shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that
<br /> provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing
<br /> between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustor's obligations
<br /> as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting
<br /> of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where
<br /> such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
<br /> Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or
<br /> unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or
<br /> unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so
<br /> that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be
<br /> considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or
<br /> unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any
<br /> other provision of 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 of Trust shall be binding upon and inure to the benefit of the parties, their successors 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 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 /> 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 Five Points Bank, and its successors and assigns.
<br /> Borrower. The word "Borrower" means GLZ PROPERTIES, L.L.C; ZOUL HOSPITALITY LLC; and ZACHARY Z
<br /> ZOUL SR AKA ZACHARY Z ZOUL and includes all co-signers and co-makers signing the Note and all their
<br /> successors 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,
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