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201404182
<br /> DEED OF TRUST
<br /> Loan Na: 1 1 1 1 292-3 [Continued] Page 7
<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 ogerating income" shall mean all cash
<br /> raceipts from the Property less all cash expenditures made in connection with the operation of the Property.
<br /> Caption Neadings. Caption headings in this Deed of Trust are for convenience purposes only and are not Yo 6e
<br /> used to interpret or define the provisions of this Deed of Trust.
<br /> Merger. There shall be na merger of the interest or estate created by#his �eed 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 Yhe writien consent
<br /> of Lender.
<br /> Garrerning Law. This Deed of Trust will be gaverned by federal law applicable to Lender and, tn the extent nnt
<br /> preempted by federal Caw,the laws of the Sta#e of Nebraska without regard to its conflicts of law provisions. This
<br /> Deed of Trust has been accepted 6y Lenc#er in the 5tate of Nebraska.
<br /> Choice of Venue. lf there is a lawsuit, Trustor agrees upon Le�der's request to submit Yo the jurisdiction of ihe
<br /> courts of Hall County, 5tate of fVe6raska.
<br /> Joint and 5e�eral Liability. All obligations of Borrower and Trustor under this €7eed of �rust shall ba joint and
<br /> several, and aIS references ta Trustor shail mean each and every 7rustor, and all r�farences to 8orrower shall mean
<br /> each and every Borrower. This means that each Trustor signing below is responsible for all abligations in#his Deed
<br /> of Trust. Where any one or more pf the parties is a corporation, partnership, limited lia6ility company or similar
<br /> entity, it is not necessary for Lender to inquire into the powers of any of the ofi#icers, directors, partners, members,
<br /> or other agents acting or purporting to act on tha enti�y's behalf, and any abligations 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 shalf not be deemed to have waived any rights under this Deed of Trust unless suc�
<br /> waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right
<br /> shatl operate as a waiver of such right or any other right. A waiver by Lender of a provisian of this �eed of Trust
<br /> shall not prejudice pr constiwte a waiver of Lender's right otherwise to demand strict cgmpiiance with that
<br /> provision or any other pravision af this Deed of Trust. No privr waiver by Lender, nor any course of dealing
<br /> between Lender and Trustor, shall constitute a waiver of any of Lender's rights or af any of Trustor's obligations
<br /> as to any future transactions. Whenever the consent of Lender is required under this Deed af Trust, the granting
<br /> of such consent by Lender in any instance shall not constitute continuing consent ta subsequent fnstances where
<br /> su�h consent is required and in alf cases such consent may be granted or wiChheld in the sole discretion of Lender.
<br /> 5avera6ility. ]f a court o� competent jurisdiction finds any provision of this �eed of Trust to be illegal, in�alid, or
<br /> unenforceakale as to any circumstance, that finding shall npt make the affending pro�ision illegal, invalid, or
<br /> unenfarceable as ta any other circumstance. Ef feasi�le, the offending provision shall be cansidered madified so
<br /> that it becomes legal, valid arsd enforceable. If the offending provision cannot be so modified, it shall be
<br /> considered deleted from this Deed of Trust. Unless otherwise required by Isw, the illegality, invalidity, or
<br /> unenforceability of any pravision of#his need of"frust shall not affect the legali#y, validity ar enforceability of any
<br /> other provision of this Deed of Trust.
<br /> 5uccessors and Assigns. Subject to any limications stated in Yhis Deed of Trust on transfer of Trustor's i�terest,
<br /> this Deed af 7rust shall 6e binding upon and inure to the 6enefit of the parties, their successors and assigns. If
<br /> ownership of the Praperty becomes vested in a person other than Trustor, �ender, without notice to Trustor, may
<br /> deai witF� Trustor's successors with reference to this l7eed of Trust and the Indebtedness by way of forbearance or
<br /> extension witho�t releasing Trustor from the obligations of this Qeed 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 Exemptipn. 7rustor hereby releases and wai�es all rights and benefits pf the homestead
<br /> exemption laws of the 5tate of�lebraska as to all Indebtedness secured by t�is Deed of Trust.
<br /> DEFINITIpNS. The following capitalized words and terms shall have the fallowing meanings when used in this Deed of
<br /> Trust. Unless specifically stated to the cantrary, all references to dollar amounts shall mean amounts in !aw#ul maney
<br /> of the United States af America. Words and terms used in tha singular shall include the plural, and the plural shall
<br /> inc[ude the singular, as the cantext may require. Words and terms not otherwise defined in this Deed of TrusY shall
<br /> have the meanings attributed to such terms in the Uniform Commercial Code:
<br /> Beneficiary. The word "Beneficiary" means First Nationa] Bank of Omaha, and its successors and assigns.
<br /> Barrower. The word "Borrower" means Steadfast Builders, LLC; Keith P. Es�eland; and Lowell A. Poland and
<br /> includes alf co-signers and co-makers signing the Note and all their successors and assigns.
<br /> Deed of Trust. The words "Deed of Trust" mean this peed of Trust among Trustor, L.ender, and �rustee, and
<br /> includes without fimitation all assignment and securiYy interest provisions relating Yo Yhe Personal Property and
<br /> Rents.
<br /> Default. The word "Refault" means the Default set forth in this [7eed of"frust in the section titled "Default",
<br /> En�ironmental 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, i�cluding without
<br /> limitation the Comprehensive En�ironmental Response, Compensation, and Liability Act of 1980, as amended, 42
<br /> U.S.C, Section 9fi01, et seq. {"CERCLA"], the Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br /> f�€o. 99-499 I"SARA"1, the Hazardous Materials Transportation Act, 49 U.S.C. 5ection 1841, et seq., the Resource
<br /> Conservation and Recovery Act, 42 U.S.C. Section 6901, et seg., ar..other applicable state or federal laws, rules,
<br /> or regulations adopted pursuant thereto.
<br /> E�ent of Default. The wvrds "Event of DefaulY' mean any of the events of default set forth i.n this CJeed ot Trust in
<br /> the events of default section of ihis Deeci of Trust. ,
<br /> Existing Indebtedness. The words "Existing Indebtecfness" mean the indebtedness described in the Existing Liens
<br /> provision of Yhis deed of Trust.
<br /> Guaranty. The word "Guaranty" means the guaranty from guarar�tor, endorser, surety, or accommodation party to
<br /> Lender, including without fimitation a guaranty of all or part of the Note.
<br /> Hazardaus Substances. The words "Hazardous Substances" mean msterials #hat, because of their quantity,
<br /> concentration or physical, chemical or infeciious characteristics, may cause or pose a present or potentiai hazard
<br /> Yo human health ar the environment when improperly used, #reated, stored, disposed of, generated, manufactured,
<br /> transporYed or otherwise handled. Tf�a words "Hazardous Substances" ara used in their very broadest sense and
<br /> lnclude withouY limitation any and all hazardaus or toxic substances, materials or waste as defined by or listed
<br /> under the Environmental Laws. The term "Hazardous Substances" also inoludes, without limitation, petroleum and
<br /> petroleum by-products or any fraction thereof and asbestos.
<br /> Improvements. 7he word "Improvements" means all existing end future improvements, buildings, structures,
<br /> mobi]e homes affixed on the Real Property, facilities, additions, replacerr�ents and other construction on the Real
<br /> Property.
<br /> fndebtedness. The word "Indebtedness" means alk principal, interest, and other amounts, costs and expenses
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