|
��15�5774
<br /> DEE❑ �F TRUST
<br /> ���11t111ugd} Pa�e �
<br /> Caption Ha�dings. Caption heat�ings in this Deed of Trust �re �ar cvn�enience purposes ❑nly and are no#to be
<br /> used to interpret or define the prv�isions o�this❑eed o�Trust.
<br /> Merger. There shalE be no rnerger vf�he in#erest or estate c�ea#ed by this❑eed of Trust with any ather interest or
<br /> estate in the Praperty at any time heid hy vr fo�the benefit of Lender in any capacity, without the written consent
<br /> of Lender.
<br /> Go�erning Law. This Deed af Trust will he go�erned by fgderal !aw appli�abfe to Lender and, to'the ex#ent not
<br /> preempted by federal law,the laws a'f the State of Nebraska without rega�d to its cor�flicts o#!aw pro�isions. This
<br /> Daed of Trust has been ac�epted by L�nder in the State af Nebrask�.
<br /> Choice o'�Venua. 1f there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the
<br /> cvur#s of Hall County.Statg of Nebraska.
<br /> Joint �nd Ss�eral Liabili#y. Aff ab�igatians af Trustar under this Deed o�Trust shall be jaint and se�eral, and all
<br /> referenc�s to Trustor shal� mean �ach and e�ery Trustor. This means that each Trustor signing below is
<br /> respvnsible for aIC�b�igations in this Deed of Trust.
<br /> IVv Vllai�er by Lender. Trustor understands Lend�r wi11 not gi�e up any of Lender's rights under this Deed of Trust
<br /> unless Lender does sa in writing. The fact that Lender delays or omi#s t❑ exercise any right wif� not mean that
<br /> Lender has gi�en up tha# �ight. If Lend�r does agree in writing to gi�e up one of Lender's rights, that does not
<br /> mean Trustor will not ha�e to comply with the ather pro�isions of this ❑eed of Trust. Trustor also understands
<br /> #hat if Lender does consent t❑ a request, that do�s not mean that Trustor will nat ha�e to get Lender's consent
<br /> again if the situatian happens again. Trustor fur�her understands that just becaus�Lend�r cansents tv one or more
<br /> o# Trustor's requests, that does not mean Lender will be required to cansent to any of Trusto�'s future requests.
<br /> Trustor wai�es presentment,demand fvr payment, pratest,and natic�vf dishonvr.
<br /> Se�erabilEty. If a cvurt finds that any prv�isian o�this Deed of Trust is nvt�alid or shoutd nvt he enforced, that
<br /> • fact by itself will not mean that the rest of th�s Deed o#Trust will not be�alid or en#or�ed. Therefore, a court will
<br /> enforce the rest af the pro�isions❑f this Desd af Trust e�en if a pro�ision af this Deed of Trust may be faund to be
<br /> in�e�id flr unenfarceable.
<br /> Suc�essars �nd Assigns. Suhject ta any iimitations stated in this Deed of Trust an transfer of Trustvr's interest,
<br /> this ❑eed ❑f Trust shall be binding upvn and inur� to the benefFt v�the parties, their successvrs and assigns, lf
<br /> ownership of the Property becomes�ested in a persan vther than Trustor, Lender, withou�notice tv Trustor, may
<br /> dea�with Trustor's su��essars with reference to this Deed vf Trust and the Indebt�dness by way of f�rbsarance or
<br /> extension withvut releasing Trustor frorn the vbliga#ivns�f this Deed❑f Trust or liability under the indebtedness.
<br /> Time is of the Essencs. Time is of the essence in the performan�e of this Deed of Trust.
<br /> Waiver af Hamest�ad Exemptian. Trustar h�reby r�l�ases and wai�es al� r�ghts and bene#its of the homestead
<br /> exempt�on 1�ws a�the State of Nebraska as to all Indebtedness secured by this Deed a#Trust.
<br /> �EFiNITI�NS. The€ollowing wvrds shall ha�e the talio►rving meanings when used in this Deed af Trust:
<br /> Benefi�iery. The word "Seneficiary" m�ans Exchange Bank. and its successors and assigns.
<br /> Bflrrower. The word "Borrawer" means MICHAEL J SEMM and LINDA C SEMM and includes all co�signers and
<br /> �a-mak�rs signing the Credit Agreerinent and all their successars and assigns.
<br /> �redit Agrgernent, The wards "Credit Agresment" mean Che credit agreement date� August 19. 2415� with
<br /> �redit limit of �75.���.�❑fram Trust�r to Lender.tagether with al�renewals of,extens�ons of, modifica#ions
<br /> ' �f, refinancings v�, consolidations a'�, and substitutians for the prvmissvey note or ag�sement. NaTICE TQ
<br /> TRUST�R: THE CREDIT AGREEMENT CDNTAINS A VARIABLE INTEREST RATE.
<br /> Deed of Trust. The words "Deed af Trust" mean th�s Deed vf Trust amang Trustv�, Lender, and Trustee, and
<br /> includes withvut limitation all assignment and security interest pro�isions �elating ta the P�rsanal Pr�perty and
<br /> Rents.
<br /> En�iranmental Laws. The words "En�ironmental Laws" mean any and all state, #ederal and fvcal statutes,
<br /> regulations and ❑rdinances relating to the protection o# human health or the en�iranm�nt, including withaut
<br /> limita�ion the �arnprehensi�e En�iranrnental Response, Campsnsation, and Liabi�ity Act of 1980, as amended, 42
<br /> U.S.C. Section 9Sn1. et seq. t"CERCLA"y� the Superfund Amendments and Reauthari�ation Act af 1986, Pub. L.
<br /> Na. 99-499 �"SARA"�,the Hazardaus Materials Transportativn Ac#�49 U.S.C. Section �801, et seq.,the ftesaurce
<br /> Conser�ation and Re�v�ery A�t, 42 U.S.C. 5e�tian s9n�, et seq., or other appliGabSe state�r federaf laws, rules,
<br /> vr regu�stions adopted pursuant thereto. ,•
<br /> E�ent of DefauRt. The words "Event of Defau�t" mean any of the e�ents af default set forth in this�]eed vf Trust in
<br /> the e�ents af default sectian of this Deed of Trust.
<br /> Hazardous Substances. The words "Hazardous Substances" mean materials that, because of th�ir quantity,
<br /> concentration ar physical, chemical ar infe�tious character�st�cs, may cause vr pose a present or potentia� hazard
<br /> to human health ar the en�ironment when imprvperly used, treated, stared, disposed af, gen�rat�d, manu#a�tured,
<br /> transported ar otherwise handled. The wards "Hazardvus Suhstan�es" are used in their�ery broadest sense and
<br /> include with�ut limitation any and a�l hazardous or toxic substances, mater�als or waste as defined by �r iisted
<br /> under the En�ironmentai Laws. The term "Hazardous Substances" alsv includes, withvut limitation, petraieum and
<br /> petroleum hy-p�adu�ts❑r any#raction thereof and asbestas.
<br /> � Impravements. The ward "Impra�ements" means ell existing and future imprv�ements, buildings. structures,
<br /> mobile ham�s affix�d on th� Real Property, facilities� additions, repiacements and ❑ther canstru�tion an the Rea�
<br /> Prvperty.
<br /> Indebtedness. The wvrd "Indebtedness" means all principal, interest, and ather amounts, cvsts and expenses
<br /> payable under the Credit Agresment or Related [3ocumen#s► together with all renewais af, extensions of.
<br /> rnadificativns of, �ans�lidations ❑# and suhstitutions for the Credifi Ag�eement or Related Documents and any
<br /> arnounts expended or �d�anced by Lender tv diseharge Trus#or's �bligetions or expenses incurred by Trustee or
<br /> L�nder to enfarce Trustor's obligations unde� this Daed vf Trust. tvgether with interest on such am�unts as
<br /> pro�idgd�n this Deed of Trust.
<br /> , Lender. The word "Lender" means Exchange gank, its successvrs and assigns. The wards "successvrs ❑r
<br /> assigns" mean any persvn or company that a�quires any inxerest�n the Credit Agreement.
<br /> Persona� Prvparty. The w�rds "Persvnal Property" mean a�� equipmsnt� fixtures, and o�her articles af pe�sana�
<br /> praperty now ar hereafte� vwned by Trusiar, and now ar h�reafter attached or affixed to the Rea� Prvperty;
<br /> together with a�l ac�essions, parts, �nd additi�ns ta. all replacements of. and a11 substitutions f�r, any of su�h
<br /> property; and together with a!� pra�eeds {inctuding without limitation all insurance proceeds and refunds af
<br /> premiums] fram any sale Qr vther disposition af the Property.
<br /> Proparty. The wvrd "Property" rneans c��3acti►►ely the R�al Praperty and the Personal Property.
<br /> Re�l Property. The wards "Real Property" mean the rea�pcvperty, interests and rights, as further described in this
<br /> , �eed af Trust.
<br />
|