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201404184
<br /> D��D OF TRUST
<br /> Loan No: 711'f292-3 [COntI11uBG1} Page 7
<br /> provision or any other provision of this �eed of 7rust. 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 obligatians
<br /> as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting
<br /> of such consent 6y Lender in any instance shall not constitute continuing consen#to subsequent instances where
<br /> such consent is required and in al] cases such consent may be granted or withheld in the sole discretion of Lender.
<br /> 5everability. If a couri vf competent j�risdiction finds any provision of this Deed o#Trust to be illegal, invalid, or
<br /> unenforceable as to any person or circumstance, that finding shall not make the offending provision illegal, invalid,
<br /> or unenforceable as to any other person or circumstance. If feasible, the offending provision shall be considerad
<br /> modified so that it becomes legal, vaEid and enforceable. 1f the offending provision cannoi be sa modified, it shall
<br /> 6e considered deleted from this Deed oi Trust. llnless otherwise required by taw, #he il{egality, invalidity, or
<br /> unenforceability of any provision of this Deed of 7rust shall not affect the legality, validi#y or enforceabiEity of any
<br /> other provision of this Deed of Trust.
<br /> Successors and Assigns. Subject to any 9imitativns stated in this �eed o# Trust on transfer of Trustor's interest,
<br /> this Deed of Trust shall be binding upon and inura to the benefit of the parties, their successors and assigns. If
<br /> ownership of the Property becomes vested in a person ather than Trustor, Lender, without notice to Trustor, may
<br /> deal with Trustor's successors wi#h reference to this Deed of Trust and the Inde6tedness by way of forbearance or
<br /> extension withvut releasing Trustor from the o6ligations of this �eed of 7rust or tiability under the lndebtedness.
<br /> Time is of the Essence. Time is of the essence in the performance of this daed of Trust.
<br /> Wainer of Nomestead Exemption. Trus#or hereby releases and waives all rights and benefits of the homestead
<br /> exemption laws of the 5tate of Nebraska as to all Indebtedness secured by this Deed o'f Trust.
<br /> DEFtNIT101115. The foHpwing capitalized words and terms shall have the fol[owing meanings when used in thts Deed pf
<br /> Trust. Unless specifically stated to the contrary, all references to dollar amounYs shall mean amounts in Eawful maney
<br /> vf 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 t3�e �ontext may require. Words and terms not otherwise defined in this deed of Trusc shall
<br /> have the meanings attri6uted to such terms in the Uniform Commercial Code:
<br /> Beneficiary. The word "Beneficiary" means First National Bank of Omaha, and its successors and assigns.
<br /> Borrower. The word "Borrower" means Steadfast 6uilders, LLC; Keith P. Espeland; and Lowell A. Poland and
<br /> includes al1 co-signers and co-makers signing the Note and all their successors and assigns.
<br /> []eed qf 7rust. 7he words "Deed of l�rusY' mean this �eed of 7rust among Trustor, Lender, and Trustee, and
<br /> includes withaut limitatiors alt assignment and security interest pro�isions relating to the Persanal Property and
<br /> Rents.
<br /> Default. The word "DefauEt" means the Default set forth in this Deed o#Trust 9n the sectio�t9tled "Default°.
<br /> Environmental Laws. The wards "Environmental Laws" mean any and sll state, federa] and local statutes,
<br /> regulations and ordinances relating to the protection of human health ar the environment, including without
<br /> limi#ation #he Comprehensive Environmental Response, Campensation, and Liahility Act of 1984, as amended, 42
<br /> U.S.C. Section 9607, et seq. ("CERCLA"I, the Superfund Amendments and Reau#horization Act af 1986, Pu6. L.
<br /> No, 99-499 ("SARA"}, the Hazardous Materials Transportation Act, 49 U.S.C. Section 18Q1, et seq., the Resource
<br /> Conservation and Recovery Act, 42 U.S.G Sec#ion 69d1, et seq., ar other applicable state or federal laws, rules,
<br /> or regulaCions adopted pursua�t thereto.
<br /> E�ent of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in
<br /> the e�ents of default section of this �eed of Trust.
<br /> Existing Indsbtedness. The words "Existing Indebtedness" mean the indebtedness described i� the Existing l.iens
<br /> pravision af Yhis �ead of Trust.
<br /> Guaranty. The word "Guaranty" means the guaranty frorrs guarantor, endorser, surety, or eccommodativn party to
<br /> Lender, including without limitation a guaranty of all or part of the Note.
<br /> Wazardous Substances. The words "Hazardous Su6stances" mean materials that, because of their quantity,
<br /> concentration or physical, chemicai ar infectious characteris#ics, may cause or pose a present or potential hazard
<br /> to human health or the environment when improperly used, treated, stored, dispased o�, ganerated, manufactured,
<br /> transported or otherwise handfed. The words "Hazardaus 5ubstances" are used in their �ery broadest sense and
<br /> include without limitation any and afl hazardaus ar toxic substances, materials or waste as defined by or listed
<br /> under the Environmer�#al Laws. The term "Hazardous Substances" also indudes, without IimiYation, petroleum and
<br /> petroleum by-products ar any fractian thereof and ashestos.
<br /> Impro�ements. The word "Improvements" means all existing and future improvements, buildings, structures,
<br /> mobile homes affixed on the Rea! Property, facilities, additions, replacements and ather construction on the Real
<br /> Property.
<br /> [ndebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses
<br /> payable under the Nate or Related Documents, together with ail renewals of, extensions of, madifications af,
<br /> consalidations of and substitutions for the EVote or Related Dacuments and any ampunts expended or ad�anced 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 /> Lendar. The word "Lender" means First National 8ank of Omaha, its successars and assigns.
<br /> Note. The word "Note" means the promissory note dated July 1, 20i4, in the original principal amount of
<br /> $200,Ofl0.00 from Borrower tn Lender, together with all renewals of, extensions of, modifications of,
<br /> refinancings of, consolidations v#, and substitutions for the promissory note or agreement.
<br /> Personal Property. The words "I'ersonal Pro�erty" mean alE equipment, fixtures, and other articles of personal
<br /> property now or hereafter owned by Trustor, and nvw or hereafter attached or affixed to the Real Property;
<br /> together with a11 accessions, parts, and additions to, all replacements of, and all substitutipns for, any of such
<br /> property; and together with all proceeds lincluding without limitatio� 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 Praperty.
<br /> Real Prpperty. The words "Rea1 Property" mean the real property, interests and rights, as further described in this
<br /> Deed of Trust.
<br /> Fielated [3ocuments. The words "Related Documents" mean all promissory notes, credit agreements, loan
<br /> agreements, en�ironmentaj agraements, guarantias, security agreements, mortgages, deeds of tr�st, security
<br /> deeds, collatera9 mortgages, and all other instruments, agreements and documents, whether now or hereafter
<br /> existing, executed in connectian with the Indebtedness.
<br /> Rents. The word "Rents" means all present and future rents, sevenues, income, issues, royalties, prof9ts, and
<br /> other�enefits derived from the Property.
<br /> Trustor. The word "Trustor" means Keith P. Espeland and Jodi A. Espeland.
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