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201404183
<br /> D�ED OF TRUST
<br /> Loan No: 1 9 1 1 292-3 [COC1tIf1UBCl] Page 7
<br /> or other age�ts 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 Wai�er by Lender. Lender shalt not be deemed to have wai�ed any rights under this peed of 7rust unless such
<br /> wai�er 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 rigf�t or any other right. A weiver by Lender of a pro�ision vf this De�d of Trust
<br /> shall not pre}udice ar constitute a waiver of Lender's right otherwise co demand strict compGance with that
<br /> pro�ision 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 righcs or of any of Trustor's abGgations
<br /> as to any future transactians. Whenever the consent of Lender is required under#his Deed of Trust, the granting
<br /> of such consent by Lender in any instance shalk nat constitute continuing consent to subsequent instances where
<br /> such cansent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
<br /> Severahility. If a court of competent jurisdiction finds any pro�ision of this Deed oF Trust to be illegal, invalid, or
<br /> unenforceable as to any eircumstance, that finding shall not make the offending provision iilegal, in�alid, 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. ff the offending provision cannot be so modifiad, it shall be
<br /> considered deleted from this Qead of Trust. Unless otherwise required by law, the ilkegality, invalidity, or
<br /> unenfarceability of any pro�ision of this �eed of Trust shal{ not affect the IegaEity, validity or enfprceabiGty of any
<br /> other pravision of this Deed of Trust.
<br /> Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interesc,
<br /> thss Deed of Trust shaA be binding upon and inure to the benefit af the parties, their.successors and.assigns. If
<br /> ownership of the Property becomes vested in a person other than l"rus#ar, Lender, without no#ice to Trustor, may
<br /> deal with Trustor's successors with reference to this �eed of Trust and the Indebtedness by way af forbearance or
<br /> extension without releasing Trustor from the obligations of this Deed o�7rust 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 /> Wai�er of Homestead Exemption. Trustor hereby releases and wai�es all rights and benefits af the homesiead
<br /> exemption laws of the State of Nebraska as to all lndebtedness secured 6y this Deed of Trust.
<br /> DEFIN1TIdN5. The following capitalized words and terms shaq f�ave the following meanings when used in this Deed of
<br /> Trust. Unless specifically stated to the cantrary, aA referencas Yo dollar amounts shaA 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 cantext may require. Words and terms not atherwise defined in this Deed of Trust shall
<br /> have the meanings attributed to such terms in the Unitorm Cammercial Gode:
<br /> 6aneficiary. The word 'Beneficiary" means �irst National Bank of qmaha, and its successors and assigns.
<br /> Borrower. The word "8arrower" means Stead#ast Builders, LLC; Keith P. Espeland; and Lowell A. Poiand and
<br /> incfudes all co-signers and co-makers signing the Note and all their successors and assigns.
<br /> Deed of Trust. The words "Deed af Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, arsd
<br /> includes without lim9tation akl assignment and security interes# provisions relating to the PersanaE Property and
<br /> Rents.
<br /> Default. The word "Default" means the Default set forth in this Deed of Trust in the sectia�titled "Default".
<br /> Environmentaf Laws. The words "Environmer�tal l..aws" mean any and all state, federal and local statutes,
<br /> regulations and ordinances relating to the Protectian of human �ealth or the en�ironment, including withaut
<br /> fimitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, �2
<br /> U.S.C. 5ectian 9601, et seq. {^CERCLA"}, the Superiund Amendments and Resuthorization.Act of 1986, Pub. L.
<br /> No. 99-499 ["SARA"J,the Hazardous Materials Transpartation Act, 49 U.S.C. Section 1801, et s�q., the Resource
<br /> Conservation and Recovery Act, 42 U.5.G. 5ection fi901, et seq., or other applicable state or federal laws, rules,
<br /> or regulations adopted pursuant thereto.
<br /> ��en#of Default. The words "Event of Qefault" mean any of the e�ents af default set forth in this Deed of Trust in
<br /> the events o#default section of this Deed of Trust.
<br /> Existing Indebtedness. The words "Existing Indehtedness" mean the indebtedness described in the Existing Liens
<br /> pro�isian 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 part of the Note.
<br /> Hazardous Substances. TF�e words "Hazardous 5ubstances" mean materials that, because of their quantity,
<br /> concentration or physical, chemical or infectious characteristics, may cause or pose a presant or po#ential hazard
<br /> to human health or the environment when improperly used, treated, stored, disposed of, generated, manufsctured,
<br /> transported or otherwise handfed. The words "Hazardous Substances" are used in their �ery 1�roadest sense and
<br /> include withaut limitation any and all hazardous or #oxic substances, materiais 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 thereaf and as4estos.
<br /> Impro�ements. The word "Impro�ements" means a11 existing and future improvements, buildings, structures,
<br /> mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on #he Real
<br /> I'roperty,
<br /> Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses
<br /> payable under the Note or Related Qocuments, together wi#h afl renewals of, extensions of, modifications of,
<br /> consolidations of and substitutions for the lVote or Related Documents and any amounts expended or ad�anced by
<br /> Lender to discharge 7rustor's ohligations or expenses incurred by Trustee or Lender to enforce Trustor's
<br /> obligations under this Deecf of"frusf, together with interest on such amounts as pra�ided in this Deed of Trust.
<br /> Lender. The word "Lender" means First fVationa! Bank of Omaha, i#s successors and assigns.
<br /> lUote. The word "Note" means the promissory note dated Juiy 7, 2014, in the original principa! amount of
<br /> $200,000.00 from Sorrower to Lender, together with akl renewals of, extensions of, modifications of,
<br /> 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 awned by Trustor, and naw ar hereafter attached ar affixed to the Real Property;
<br /> together with all access9ons, parts, and additions to, all replacements of, anct a11 substitutions far, any of such
<br /> property; and together with all proceeds [including withou# limitation all insurance proceeds and refunds of
<br /> premiums) from any sale or pther disposition of the Property.
<br /> Propevty. The word "Property" means collectively the Resl Praperty and the Personal Property.
<br /> Real Prpperty. The words "Reai Property" mean the real property, interests and rights, as further described in this
<br /> Deed of Trust.
<br /> Related Documents. The words "Related Qocuments°' mean all prvmissory notes, credit agreements, koan
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