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DEED OF TRUST 201306777
<br /> (Continued) Page 7
<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 /> 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 co-makers
<br /> signing the Note and all their 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,
<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;;etseq.("CERCLA"),the Superfund 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 6901,at seq.,or other applicable state or federal laws,rules,
<br /> or regulation's adopted'pursuant thereto. t^',i?',l,iwia 33� k:
<br /> Event of Default:;The words".Event of Default"mean any of the ev nts;otdehaUrneetfoitff n this seed gf Trust in
<br /> the events of default section of this Deed of Trust. srr;. *;:,;,,,•,;,qr5 s;aue:;;;J. :*
<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 part of the Note.
<br /> Hazardous Substances. The words "Hazardous Substances" mean materials that, 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 the environment when Improperly used,treated,stored,disposed of,generated,manufactured,
<br /> transported or otherwise handled. The words"Hazardous Substances"are used in their very broadest sense and
<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 include§,;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 /> Cross-Collateralization 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 August 16, 2013, in the original principal
<br /> amount of$131,000.00 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.
<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, 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 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 8793,Grand Island,NE 88802
<br /> and any substitute or successor trustees.
<br /> Trustor. The word"Trustor"means RHOADS ENTERPRISES INC.
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