|
2� 15�8�9�
<br /> DE�D DF TF�UST
<br /> ��ontir�ue�� Pag� 6
<br /> Cap�ion Headings. Captian headings in �his Qeed of Trust are fo� con�enience purpvses only and are nvt �❑ be
<br /> used t� interpret Qr define the pro�isions af th�s Deed vf Trus�.
<br /> IVle�rg�rd TherE shall be na merger p�the interes�vr�sta�� cre�ted by this De�d �t Trust with�ny Q�her int�res�t or
<br /> estate in the Proper�y a��ny time he�d �y o�f�r the bene'Fit n�L�nder in any capacity, v�i�hout the written c�nsent
<br /> af L�nder.
<br /> GoWerning Law, This Deed nf Trus� wi#� be go�erned by �ederal law applicabie ta L�nder and, to �he ex�tent nat
<br /> preempted by�ede�al la►nr,the laws of the State o�Nehraska w�thout rega�d tv its cQnflic�s of law p�rv�isions. This
<br /> I�eed��F Trust has been��cep�ed by Lender in the 5tate of Nehraska.
<br /> Choice �� Venue. �� ther� is a lav►rsuit, T�ustor agr�es upon L�nder�'s request to submi� to th� jurisdi�tivn of the
<br /> cvurts ofi Hall Caunty, 5tate vf Nebraska.
<br /> No Vllaiver by Lender. Trustor unders�ands Lender wifl not giWe up any of Lend�r's rights und�r this Deed of Trust
<br /> un�ess Lender does sa in writing. The �Fact �hat �,�nder delays or vmits to exer�i�e any right wiiE nvt mean �hat
<br /> Ler�der has gi�en up that ri�h�. If Lende� does agree in writing to gi�e up one of Lend�r's righ�s, �hat dves not
<br /> mean Trustor wiI[ npt ha�e to �ompiy with the vther prouisians vf this Deed of Trust, Trustor a�so unders�ands
<br /> that i� Lender dves cansent t� a reques�, �hat does nvt m�an that Trustor will no� ha�e to get L�nder's Consent
<br /> again if the situativn happ�ns aga�n. Trustor further understands tha��us��e�aus� Lender consents to ane or mvre
<br /> of T�ustar's requ�sts, that does nofi mean Lender will be req�ir�d �❑ consent to any af Trustar's fu�ure r�quests.
<br /> Trustar►n�aiv�s presentment, demand �ar payment, p�flfest, and n�ti�e of dishonor.
<br /> Se�erabilifiy, �� a court �inds that any pra�ision ofi this Qeed o�Trus�t is not �alid or should na� �e enfvr�ed, that
<br /> fiact by ��se�f will nvt mean that the rest of�his Deed o� Trus�will nat L�e valid ar enfor�ed. Therefore, a caurt will
<br /> enfvrce the rest at the pr��isic�ns af this Deed�f Trust eu�n i�a pro�ision af�this Deed afi Trust may �e fiound to be
<br /> �n�a13d or unenfo�ceable.
<br /> Successc�rS and Assigns. Suh�ect to any limitatians stated in �his l��sd af Trust ❑n trans�er �� Trus�ar's int�rest,
<br /> this D�ed of Trust sha�l be �inding upon and inure tv �he bene�it vf the p�rties, their successa�s and ass�gns. ��F
<br /> ov►rnership o�the Property becvmes �est�d in a pe�son other than Trustor, Lender, without no�tice to Trustvr, may
<br /> d�al with T�ustor's�uccessars wi�h reference to'this Deed o#Trust and the�ndebt�dness by way af forbea�an�e or
<br /> ex�ension wi�haut releasing Trustor frvm�he obl�ga��ons o�this Deed of�'rust ar liabi�i�y under�he Indebtedness.
<br /> Tlii'1�15 0'�'��'lB E55@�'1G@. Tim� is af the essence in th� per�ormance o�this Deed vf Trust.
<br /> 1Na��er vf Hame�tead Ex�mptivn. Trustar here�y releases and wai�es a�l rights and bene�its af the homestead
<br /> �xemptic�n laws��the State of Nebraska as tv al� lndeb�edness secured by this Deed❑f Trust.
<br /> DEFINITIDNS. The fvllvwing words shaii ha�e the follawing meanings when used in this i�eed �f Trus�:
<br /> Beneficiary. The wqrd °'Bene�i�iary'T means Exchange Bank, and its suc�essors and a�sign�,
<br /> Bvrrawer. The rrvvrd "Barrower" m�ans J�SEPN G AIVDERS�N and includes all co-signers and co-maker� signing
<br /> the Cr�d�t Agreement and all their successors and assEgns.
<br /> Credit Agr�ement. The wvrds "Credifi Agre�m�n�" mean th� cr�dit agreement da�Ce� Nr��ember �, ����, 1N�#h
<br /> �redit limit af $ZS,�I��.��from Trustor xQ Lender, t�gether wi�h ai! r�n�wals❑�, ext�nsians a#, m�dif��atiflns
<br /> af, refinancin�s of, consolida�ians o�, and subs�itutians tar �he promissory note ar agreernen�. N�TI�E TQ
<br /> TRUST'�R: THE CRE�iT AGREEMENT�QNTAIN�A V►4RIABLE iNTEREST RATE,
<br /> �eed of Tru�t. The wards "Deed ❑f Trust" mean this Qeed of Trust amonc� Trustor, Lend�r, and Trust�e, and
<br /> �nCludes withou� limitation al1 assignment and security in#er�st pro�is+ons r�l�ting to �he Persanaf Prvperty and
<br /> Rents.
<br /> En�ironmental Laws. The wards "Environmenta� Laws" mean any and all state, fied�ral and local statutes,
<br /> regulations and �rdinan�es relating �a �he pratec�ion a# human health or the envirvnment, including without
<br /> limitation the Camprehensi�e Environmental REspon�e, Compensation, and Lia�ili�y Act of �98�, a� amended, 4�
<br /> U.S.C. �e�tion 95Q�, e� seq, �"CER�LA"y F the Super�und Am�ndm�nts and Reauthar�zation A�t v� 198fi, Pub. L.
<br /> Nfl. 99-�99 �"�ARA"},�I�e Ha�ardvus Materials TransportatiQn �4ct, 49 U.S.�. ��c�ian 1 S��, et seq.,the F��source
<br /> Conseruation and Recv�ery A�t, 4� U.S.G. 5ectian fi3�1, e�seq., or ather applicable state or'�ederal �aws, ru�es,
<br /> or regulativns adnpted pursuant thereto.
<br /> Er►en#ot Def�ul�. Th� words "EWEnt�f Qefault" mean any a��he e�ents of default�et farth in�his De�d of Trust in
<br /> the events o�default section o�F this Deed o�Yrus�.
<br /> Hazardous Su�s�anCes. The words "Ha�ardaus Su�astances" mean mate��afs that, because v� th�ir quan�ity,
<br /> concen�ration v� physicai, chemiGal or in€ect�ous characteri�tics, may cauSe or pos� a present ar potential ha�ard
<br /> ta human health �r the en�irQnment when im�rop�rly used, treatecl, store�, dispvsed vf, g�nerated, manufa�tur�d,
<br /> tr�nsparted or otherw�se handled. The words "Ha�ardous Substar�ces" are us�d in their ��ry hroadest �ense and
<br /> in�lude �vi�hout limitation any and ��I h�zardous ar �axi� su�stanc�s�� materi�IS or `rvaste as de#ined by ar I�sted
<br /> under�h� En�ironm�ntal Laws. The term "Ha�ardaus Substanc�s" also in�iude�, withaut limita�ion, p��r�leum and
<br /> petr�leum by-produc�s or any frac�ion th�reof and asbesfios.
<br /> impro�ements. The word "lmpra�emenfis" means all e�cisting and futu�e impra�em�nts, buildings, structures,
<br /> mobile hom�s affiaced an the Real PrQperty, fa�i�i�ties, addit+�ans, re�la�ements and athe� �onstru�tian ar� th� Real
<br /> Property.
<br /> ind�htedness. The word "Ind�b��dness" means all principa�, inter�stf and v�her arn�un#s, costs and eacpenses
<br /> pa�abie under the �redi� Agreement or Related Documents, �agether with all renewals afi, �xtensians a�,
<br /> madifiGat�ons of, conso�idativns of and substitutians �Qr the �redi� Agreement vr Re�at�d Documents and any
<br /> amvun�Cs expended or ad�an�ed by Lend�r �o discharg� Trus�ar's obl+gations or expens�s inGurred by Trustee or
<br /> Lender �a en�orce T�ustor"s abligations under this Deed of Trust, together w�t� in�er�sr on such arnaunts as
<br /> pro�ided in this Deed of Trust.
<br /> Lender. The wvrd n Lender" m�ans E��hange Bank, it� success�rs and assigns, The words "successvrs qr
<br /> assi�ns" mean any per�on or cvmpany that a�quires any�nter�st�n the Credit Agreement.
<br /> P�r�ona� Property. The vuords "Person�l Praperty'" mean all equipm�nt, fixtures, and oth�r artic�es vf personaf
<br /> pra�erty now vr hereaf�er owned by Trus��rr and n�w or h�reafter a��ached or affixed to the Real I�ro�er�y;
<br /> together with all acce�sivns, par�ts, and additions ta, ali rep�acemen�s af, and all su�stitu'tions fa�, any of such
<br /> praperty; and togeth�r with af1 praceeds {including withaut limi�ation all insurance proceeds and refunds of
<br /> pr�miums� t�am any sale or other di�pasiti�n c�f th�e Pr�perty.
<br /> Prvperty. Th�wvrd "Praperty" me�ns collec�i�ely the R�al Prr�perty and�he P�rsvnal Pr�perty.
<br /> R�a� Pr�perty. The words "Real Property" mean �he real property, interests and righ�s, as further described in this
<br /> De�d o�Trust.
<br /> Related Dacuments. The words "Related ❑ocuments" mean �l� pramissory notes, Gredit agre�m�nts, �van
<br /> agreem�nts, enUiranmental agreements, guaranti�s, seGurity agreements, mv�tgages, deeds vf trustx s��uri�y
<br /> deeds, ca�iateral martga�es, and all other instrum�n��, agreemen�s and d�cumenfis, whe�he� now or hereafter
<br />
|