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<br /> DEED �F TRUST
<br /> ��Dl7tli71.��d� Page 7
<br /> agreement of the pa�ties as ta the matters set forth in this Deed ❑f Trust. No alterat'ran vf or amendment to this
<br /> Deed of Trust sha�l be effecti�e uniass gi�en in writing and si9ne� by the party�r parties saught t�he charge�or
<br /> �ound by the alteration or a�mendment.
<br /> Annua! Rapor#s. lt the Property is used �nr purposes vther than Trustor's residen�e. Trustor �hall furnish tv
<br /> Lender, upon �equest. e certafjed statement of net aperetin� inGvme received #rom the Prvperty during Trustor's
<br /> prev�ous fisce[ year in su�h #arm and detail as Lender ahail requ�re. "fVet vperating income" shall mean alI cash
<br /> rec��pts fram the Prvperty less ail cash expenditures made in evnnectian with the ope�atiti�a#the Pr�perty.
<br /> C�ption Headin�s. Caption headings in this ❑eed af Trust er� far con�enisnce purpvses only and are not tQ be
<br /> used to interpret or define the pra�isions of this Dead of Trust.
<br /> Marger. There shalf be nv merger o�the interest vr estate creeted by this �eed❑f Trust with any othe�interest vr
<br /> estate in the Praperty�t any tima hefd by ar far the benefii of Lender in any capacity, wi�hvut tha written consent
<br /> af Lander.
<br /> Go�erning Law. This Daed of Trust wi�! ba 9v�arned by fed�r�l law applicab�e t� Lendar and. to the extent nvt
<br /> preemp#ed by federa[law,ths��ws of the St�te vf Nsbraska without re�ard to its conflicts af law pr��isivns. This
<br /> Deed v�Trust h�s been�aaepted by Lendar in the 5ta#e�f Nobr�ska.
<br /> Ghoice of Venua. lf there i� � lawsuit, Trustar agreas upon Lender'� request to submit ta the jurisdictivn of the
<br /> cour�s of Hal��ounty,Stet�af Nebrasks.
<br /> Joint and So�era! Liabii�ty, Ali obligatians ot Barr�wa� and Trustvr undar this Deed af Trust shali be jaint and
<br /> ae�era�, end all references to Trustar sh�il mean each snd aWgry Trustor, and ell r�ferences to Borr�wer sha�f inean
<br /> each and e�ery Bvrrower. This means that aa�h Trustor s�gn}n8 be�ow is responsibie far a�E obligativns in this❑eed
<br /> of Trust.
<br /> Na Vliaiv�r by Lender. Lender ahail not ha dBemed ta ha�e waiued any rights under this D�ad af 7rust unless su�h
<br /> wai�er is given in writing and signed by Lender. No delay or omissEon on the part of Lender in exercis�ng any right
<br /> shall operate as a wai�er o#such�i�ht vr any other right. A wet�er by Lender❑f a pr��ision of this Deed of Trust
<br /> shali nvt prejud��e vr �onst�tute a wai�er af Lender's r�ght otherwise to demand stri�t cvmpliance with that
<br /> pro�ision or any other pro►�isian af this �eed of Trust. Na prior wai�er by Lender, nor any course of dea�ing
<br /> between Lander and T�ustar, sha�� canstitute e wa��er of eny af Lender's rights or af any af Trustor's vbligations
<br /> as to any future transections. Whenever#he consent�#Lender is required under this Deed of Trust. the granting
<br /> af such Gonsent by Lend�r in any instance sh�ll not�onstitute cantinuing cansent to suhsequent instances where
<br /> such consent is required and in a�!cases such�onsen�may be�ranted or withheEd in the sole discretinn af Lender.
<br /> Se�erability. If a court of c8mpetent jurisdiction finds anY prv�ision ot this Deed of Trust to be illegal, invalid, or
<br /> unenfo�C��blB�S ta 8ny p�rson or circumet�nce,that finding sh�ll not make the�ffending pro�isian illegai, in�alid,
<br /> ar unenforceab�e as ta any atha�p�r�an or circumstenc�. If f�as�ble, ths offend'+ng pr��ision shall be ��nsiderad
<br /> modified s�that lt becvrnss Ivflel, ����d end enforGeeble. If the of�endina prv�ision c�nnnt be so modifiad� it shall
<br /> be considered deleted #rorn thia ae�d ❑f Tru�t. llnl�aa atherwise reqult��d by i�w, the illegsiity, invalidity, nr
<br /> unenforcqability of any pr���slnn 8f this ❑eed of Trust she�l not effect the lggelity, �alidity or enfarceabtlity❑f any
<br /> vther pro�ision�f this t7eed of Trust.
<br /> Successvrs and AssiBns. 5ub�ect ta any�imitations s�at�d in this Deed�f Trust an transfer of Trustor's interest,
<br /> this Deed ot 7rust shail be binding upon and inure to #h� benef�t o�ths parties, their succ�ssars and assigns. If
<br /> vwnership of the Prvp�rty bec�mes�ested in a pers�n ather than Trustor, Lender, w�thflut natice to Trustor� may
<br /> dea�w�th Trus#or's succ�ssors with reference to this❑eed ort Trust and ths 1ndBbtedness by way of forbearance or
<br /> extension with�ut�eleasing Trustor#rom the obiig�#iona of this�eed of Trus#vr liabiiity under the indebtedness.
<br /> Time is af the Essence. Tirne ls af the sssence in the per�o�rnance of this De�d�f Trust.
<br /> Wai�e Ju�y. Ail parties to thia Daed vf Trust he�eby wai�e#ho r��ht#o any jury trial�n any action.proGee��na,ar
<br /> counterclaim brau�ht by any party a�ainat any othar party.
<br /> Wai�er vf Hamestead Exemption, Trustvr hereby releases and wai�es a!� rights and benefits of the homestead
<br /> exemption laws❑f the Stet�vf Nehraska as ta all lndeb#ed�sss secured by this Deed Qf Trust.
<br /> aEFlNlTI�NS. The fo!lawing �epit�iiaed wvrds and terms�hall ha�e the following meanings when used in this ❑eed of
<br /> Trust. Unless specificatty stated to the contrary+ ail references tv doll�r amounts shali mean amounts in lawful maney
<br /> af the United States ❑f AmeriGa. Words and terrns usad in the singular she�� inc�u�le the plu��l, and tha plural sha��
<br /> incFude the singular, as the c�ntext may require. Words and terms not otherwise defined in this Deed o# Trust she�!
<br /> ha�e the meanings attrihuted to such terms in ths Un�fv�m Cvmmerciaf Cade:
<br /> Beneficiary. The word "Beneficiary" means Exchange Bank, and its successors and assigns.
<br /> Borrawer. The wvrd "Borrower" rneans �RANQ 1SLAND AUTnMOT�VE fNC and includes all co-signers and
<br /> c�-mak�rs signing the Note end a�l their successors and assigns.
<br /> Deed of Trust. The words "�eed Qf Trust" msan th�s �e�d of Trust amang Trustar. Lend�r, and Trustee, and
<br /> +ncludes without timitation aii assignment �nd security int�rest prv�isions relating tv the Persvnal Property an�
<br /> Rents.
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<br /> De#ault. The ward "Default" means the D�fault set�orth in this Deed af Trust in the seetian titled "Q�fault".
<br /> Enviranmvntal Laws. The words "En�ironmental L�►ws" meen any and all state, �sderal end laca! statutes,
<br /> regulations end ordinan�es r�lax�ng ta thg protection of human health �r the en�i�anmant, includin� withaut
<br /> limitation the Cvmprehensiv� Envi�o�menta� R�sponsa, Cvrnp�nsation, and tiah�sity Act of 198�, as amended. 42
<br /> U.S.C. Ssction 9�4�, �t seq. �"CERGLA"}, the 5uper#und Amsndments and ReauthoriZation A�t af 1988, Pub. L.
<br /> No. 99-499 t"SARA"}.#he Hazerdous Materiels Tr�nspor#at#on Act,49 U.�.C. 5ection '�8D1,et seq.,the Resvurce
<br /> �anservet�on and Re�oWery Act, 42 U.S.C. Section 59��, �t seq..❑r vther ep�p�i�ab�e state or fiederal laws. ru�es,
<br /> or regulatians adopted pursuant thereto.
<br /> E�ent of�afault. The wards "E�ent ofi Default"rnean any of thg e�ent�of default set forth 4n t#�is De�d v�Tsust in
<br /> the e�ents of default sectifln of this Deed af Trust.
<br /> Guarantar. The word "C�u�rantar" means any guarantar, surety, ❑r a��vmm�dativn party o� any vr all of the
<br /> lndeb�edness.
<br /> Guar�nty. The word "Guar�nty" means the gueranty fr�m Guarantar t� Lender, including without limitation e
<br /> guaranty of all❑r pa�t flf the Nate.
<br /> Ha=ardoua Subs#ances. The words "Hazardous Suhstances" mean materials that, because �f their quantity,
<br /> cancentration or phys��al� chemi�a�l ar in#e�tiaus characta�istica� m�y �gusa ar pose � prgsant or potentiaE hat�rd
<br /> t�human ha�lth or the en�iranment when impr�perEq used.treeted, stora�� disposed af, gen�rated, manufactu�ed,
<br /> transported ar otherwise handled. The words "Haaardvu� Sub�tences" are used in their�ery brvadest sense and
<br /> inctude without lirnitation any snd all hazardaus or toxic sutystances, materials or waste �s de#ined by ❑� listed
<br /> under tha En�iranmentel Laws. The term "Hazerdvus Substances" also in�ludes,without limitation, pet�vleum and
<br /> petrvleum by-products ar any frection thereaf and asbestos.
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