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201400195
<br /> DEED OF TRUST
<br /> Loan No: 810a44$d (Continued) Page 7
<br /> Joint and Se�eral Liahi[ity. A[I obligations of Borrower and 'frus#or under this Qeed of Trust shall be jaint and
<br /> several, and all references to Trustor shal] mean each and every Trustor, and all references to Borrower shall mean
<br /> each and evary Borrower. This means that each Trustor signing below is respons9b]e 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 similer
<br /> entity, it is nat necessary for Lender to inquire into the powers of any of the officers, directors, partners, members,
<br /> or ather 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 af Trus#unless such
<br /> waiver is g[ven 'sn writing and signed by Lender. f�o delay or orr�ission on tE�e part of Lender in exercising any right
<br /> shall operate as a waiver of such right or any other righ#. A waiver by Lender of a provision of this Deed of Trust
<br /> shall not prejudice or constitute a waiver of Lender's right otf�erwise to demand strict compEiance with that
<br /> provisian ar any other provision of this �eed of Trust. f�o prior waiver by Lender, r�or any caurse of dealing
<br /> between Lender and Trustor, shall constituts a waiver of any of Lender's rights or of any of Trustor's o6ligatlons
<br /> as to any future transactions. Whenever the cansent of Lender is required under this Deed of"frust, the granting
<br /> af such consent by Lender in any instance shall not constitute continuing consent to su6sequent instances where
<br /> such consent is requiret€ and in all cases such consent may be granted or withheld in#he so[e discretion of Lender.
<br /> Se�erability. If a court of competent jurisdicEian finds any provision of this Deed of Trust to be illegal, inva[id, or
<br /> unenforceabfe as to any eirce�mstance, that finding shall not make the offending provision illegal, invalid, or
<br /> unenforcea6le as to any other circu�nstance. If feasible, the o�fending provision shal! be considered modified so
<br /> that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shali be
<br /> considered deleted from this I]eed of Trust. Unless otherwise required by law, the il�egality, invalidity, or
<br /> unenforceability of any provision af this Deeci of Trust shall not affect the legality, �alidity or enforceability af any
<br /> other provisian of this �eed of Trust.
<br /> S�ccessors and AssigRs. Subject to any limitations stated in this �eed of Trust on transfsr of TrusCor's interest,
<br /> this Deec[ of Trust shall be bir�ding upon and inure to the benefit of the parties, their successors and assigns. ]f
<br /> ownership of the Property becomes vested in a persan other than Trustor, Lender, wi#hout notice to Trustor, may
<br /> deal with Trustor's successors with reference to this �eed of Trust and the I�debtedness by way of forbearance or
<br /> extension without rele8sing Trustor from the o6ligations of this Deed of Trust or liability under#he [ndebtedness.
<br /> Time is of the @ssence. Time is af the essence in the perfprrr�ance of this deed of Trust.
<br /> Waive J►�ry. All parties to this Deed of Trust f�ereby waive the right to any jary tria! in any action, proceeHing, or
<br /> co�nterclaim broeaght by any party against any other party.
<br /> Waiver of Horriesteaci'"�"i�tr,�iYiqrs'_`,;Trustor.,hereby releases and waives all rights and benefits o€ the homesYead
<br /> exemption]aws of tYie S#ate of,Ne6raska'as to al] Indebtedness secured by this Deed of Trust.
<br /> DEFINITIOI�S. 7he follo�rving,capitafiz�d words and terms sha[I have the following meanings when used in this �eed of
<br /> Trust. Unless §paci�Ficaffy sfafed icf'�he'contrary; a11 references to doAar amounts sha[I mean amounts in lawful money
<br /> of the United States of America. Words and terms used in the singular shap include the plural, and #he plural shall
<br /> include the singu€ar, as the conte:cY may require. Words and terms not atherwise defined in this Deed of 7rust sha[I
<br /> have the meanings atCri6uted to such terms in the Uniforrn Commercial Code:
<br /> Beneficiary. -fhe word "BenefiCiary" means Equitable Bank, and its successors and assigns.
<br /> Borrower. T[�e word "Borrower" means HUTCHINSON A�[D AS50CIATES, L.L.C.; iVi]CHAEL C HiJTCHINSON; and
<br /> WANDA HUTCHINSDN and includes all eo-signers and co-makers signing the Note and al[ their successors and
<br /> assigns.
<br /> Deed of Trust. The words "Deed of Trust" rrtean this Deed of Trust among Trustor, Lender, and Trustee, and
<br /> includes without limitation al] assignment and security interest pro�isions relating to the Personal Property and
<br /> Ren�s.
<br /> Default. The word "Default" means the Default set forth in this Dead of Trust in the section titled "Default".
<br /> Environmental Laws. 7he words "En�ironmenta] Laws" mean any and al[ state, federal and [ocal statutes,
<br /> regulations and ordinances relating to the protect9on 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 960'3, et seq. ("CERCLA"), the Superfurtd Amendments and ReautE�orization Act of 7986, Pub. L.
<br /> No. 99-499 {"SARA"},#he Hazardous Materials Transportation Act, 49 U.S.C. Section 7801, st seq.,the Resource
<br /> Conservation and Reco�ery Act, 42 U.S.C. 5ection 6901, et seq., or other applicab]e state or federal [aws, rules,
<br /> or regu[ations adopted pursuant thereto.
<br /> Everrt of Defau[t. The words "Event of Default" mean any of the events of defauit set forth in this Deed of Trust in
<br /> the events af default section of this Deed of Trust.
<br /> Guaranty, The word "Guaranty".[neans the guarantjr from guarantor, endorser, surety, or accommodation party to
<br /> Lender, including without limitatian a getaranty of all or part of the Note.
<br /> Hazardons Substances. The words "Hazardous Substances" mean materials that, because of their quantity,
<br /> concentration or physical, chemical or ir�fectious characteristics, may cause or pose a present or potential hazard
<br /> to human health or the environment when improperly used, tseated, stored, disposed of, generated, manufactured,
<br /> transported or otherwise handled. The words "Hazardous Substances" are used in their very 6roadest sense and
<br /> include without lirr�itation any and alE hazardous ar toxic substances, materials ar waste as defined by or listed
<br /> under the Environmental Laws. The term "Hazardous Substances" also includes, without IimitaYion, petroleum and
<br /> petroleum by-products or any frac#ion t[�ersof and asbestos.
<br /> [mpro�emertts. The word "Improvements" means al[ existir�g and future improvements, buildings, structures,
<br /> mobile homes affixed or� the Real Property, facilities, additions, replacements and other construction on the Real
<br /> Property.
<br /> Inda6tedness. The word "Indebtedness" means al{ principal, interest, and other amounts, costs and expenses
<br /> payable under the Note or Related Documents, together with al! renewa[s 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 o6ligations or expenses incurred by �rustee ar Lender to enforce Trustor's
<br /> obligations under this Deed of 7rust, together with interest on such amounts as provided in this Deed of Trust.
<br /> Specifical[y, without limitation, Indebtedness includes the future advances set forth in the Future Advances
<br /> provision, together with all interest thereor� and al[ amounts that may be indirecY]y secured by the
<br /> Cross-Col[atera[ization provfsion of this Deed ofi Trust.
<br /> Lender. 7he word "Lender" means Equitable Sank, its successors and assigns.
<br /> Note. The word "Note" means the promissory note datec[ January 10, 2Q14, 111 ��12 original principal
<br /> arr�ount of $125,000.00 from gorrower to Lender,together with a[I renewals of, extensions of, modifications
<br /> of, refinancings of, cansolidatians of, and substitu€ions far ihe promissory note or agreement.
<br /> Persona! Property. The worcEs "PersonaE Property" mean a[I equipmenY, fixtures, and other articles of personal
<br /> property now or hereaiter ownsd by Trustor, and now or hereafter attached or affixed to the Real Property;
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