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201500417
<br /> DEED OF TRUST
<br /> Loan No: 10012357 (Contirlued) Page 7
<br /> unless Lender does so in writing. The fact that Lender delays or omits to exercise any right will not mean that
<br /> Lender has given up that right. if Lender does agree in writing to give up one of Lender's rights, that does not
<br /> mean Trustor wili not have to cornply with the other provisions of this Deed of Trust. Trustor also understands
<br /> that if Lender does consent to a request, that does not mean that Trustor will not have to get Lender's consent
<br /> again if the situation happens again. Trustor further understands that just because Lender consents to one or more
<br /> of Trustor's requests, that does not mean Lender will be required to consent to any of Trustor's future requests.
<br /> Trustor waives presentment, demand for payment, protest, and notice of dishonor.
<br /> Severability. If a court finds that any provision of this Deed of Trust is not valid or should not be enforced, that
<br /> fact by itself will not mean that the rest of this Deed of Trust will not be valid or enforced. Therefore, a court will
<br /> enforce the rest of the provisions of this Deed of Trust even if a provision of this Deed of Trust may be found to be
<br /> invalid or unenforceable.
<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 shali 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 /> deai 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 foilowing words shall have the following rneanings when used in this Deed of Trust:
<br /> Beneficiary. The word "Beneficiary" means Equitabte Bank, and its successors and assigns.
<br /> Borrower. The word "Borrower" means JEREMY LEMBURG and ANGELA LEMBURG and includes all co-signers
<br /> and co-makers signing the Note and all their successors and assigns.
<br /> Deed of Trust. The words "Deed of Trust" mean this Deed ofi 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 /> 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 Gomprehensive Environmental Response, Compensa2ion, and Liability Act of 1980, as amended, 42
<br /> U.S.C. Section 9601, et seq. ("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 6907, et seq., or other applicable state or federal laws, rules,
<br /> or regulations adopted pursuant thereto.
<br /> Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in
<br /> the events of default section of this Deed of Trust.
<br /> Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens
<br /> provision of this Deed of Trust.
<br /> Guaranty. 7he word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to
<br /> Lender, including without limitation a guaranty of al!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, materiafs or waste as defined by or Iisted
<br /> under the Environmental Cav✓s. The term "Hazardous Substances" also includes,without limitation, petroleum and
<br /> petroleum by-products or any fraction Yhereof 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, replacemenis and other eonstruction 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 o� Related Documents, together with all renewals of, extensions ofi, 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 /> Lender. The word "Lender" means Equitable Bank, its successors and assigns. The words "successors or
<br /> assigns" mean any person or company that acquires any interest in the Note.
<br /> Note. The word "Note" means the promissory note dated January 13, 2015, In $he original proncipal
<br /> amOunt Of $35,000.00 from Borrower to Lender, together with ali renewa[s of, extensions of, modifications
<br /> of, refinancings of, consoiidations of,and substitutions for the promissory note or agreement. The rnaturity date ofi
<br /> this Deed of Trust is Janvary 15, 2025. NOTICE TO TRUSTOR: THE NOTE CONTAWS A VAR➢ABLE tl�9TEREST
<br /> RATE.
<br /> Personal Property. The words "Personal Property" mean all equipment, fixtures, and other artides 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, c;edit 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 Equitable Bank (Grand Island Region), whose address is 113-115 N Locust
<br /> St; PO Box 160, Grand Island, NE 68802-0160 and any substitute or successor trustees.
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