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2� 1 �� 1397
<br /> DFED �� TR��T
<br /> ���ntinued� Page 7
<br /> Go►►erning Law. This Deed v!Trust wil� be gove�ned by faderal �aw applicabls to Lender and. ta the �xtent not
<br /> preemptad�y fsdsra!law.th�#ews af tha S�ate af Nebra�ka wrth�ut regard ta its co�flicts of[aw proW��. This
<br /> Deed of Trust has been�ccepted by Lender in the State of Nab��aka.
<br /> �hoice o#Vsnu�. If thare is � lawsuit, �frustar agre�s upon Lender's request to submit tv the �urisdi�t�on ❑f the
<br /> courts o�Hal!Cvunty, State�f Neh�rask�.
<br /> Joint an�! 5e�eral L�ahi�ity. All oblig�tions af Trustar under this Deed of Trusi sha�� be �aint and se�eral� and all
<br /> re#erence� to Trus�nr sh�ll msan eaGh and er►��y Trusttir. This means th�t aach 7'rustar signing be�ow is
<br /> respansibie#ar all vb�igations in this Degd vf Trust.
<br /> No Wairrer by Lender. Lende►shalf not be dsemed to ha�e wei�ad any rights under thi$Deed a#Trust unless such
<br /> wai�er is gi�en in writin�end siyned by Lender. No detey❑r om�ssivn on the part af Lender in exercis�n9 any right
<br /> shal�operate as a wai�er�f such right or any other right. A wai�e�by Lander Q�a pro�ision of th�s ❑a8d of Trust
<br /> shali not prejudice or consti�ute a w�iver of Lender'e right otherwise to demand strict �omplian�e wi#h #hat
<br /> pro�isiQn or eny �ther �rovisian of this Daed ❑f Trust. N� pri�r w�i�er by L�nder, nor any cvurse ai de����ng
<br /> betw��n Lender�nd Trustor, sh�t� cpnstitute � wai�er vf anY of�.ender's rights ar v'�any of Trustor'a flk�li�ations
<br /> a� ta �ny �utur�transactivns. Wh�ne�g�th� cans�nt o#� Lender 4s ret�uired under thi� ❑eed �f Tru�t, ths granting
<br /> v�such cansen� by Lender in any instence shell nvt constitute cantinuing �ansent t� �ubsequ�nt inst�nces wher�
<br /> such Gonsent is required and in ell c�sas such cons�nt may 1n��ranted or withh�ld in the sole dis�retion a�f Lende�.
<br /> Se�er�i�ility. If a court of campetent jurisdiction finds any pro�ision �f th�s Qeed a�Trust t❑ be illegai� �nvai�d, or
<br /> unenfvrceab�e as to any perso�or circumstan�e� that finding sh�1� not make the off�nd'+ng pra�isson i��eg�l, in�a�id,
<br /> or unenfarceable as ta any ather person ❑r circumstance. i�fe�sible, the o#�en�iing prn��sEon shall bs cflnaidered
<br /> modified so#hat it becomes legal, Walid and enfor�esble. �f the af#en�l+n8 pro�ision csnnvt be so modi�ied� it sha11
<br /> b� considerad de��ted trom this Deed of Trust. Untiess a�therwise r�quir�d by law, th� iElegality. in�alidity� �r
<br /> unenfar�eab�lity ot any pr��ision of th�s Deed o�Tru�t shal! not s�fect the leg�lity� u��idity or enfarc�ahility vf any
<br /> other provision a�this De�d❑f Trust.
<br /> 5u�cassors and Assign�. 5ubject�a any limixations state�d in this Deed Q�Trust on rran�#er of Trustar'� in��rest,
<br /> th+s [�eed af Trust shal� !�e binding upon �nd inur� to the benefi� of the partie�. the�r �ucGess�rs and �ssi�ns. I�
<br /> ownership af the RrpRerty becomes�ested in e person�th�r thsn Trustor, Lend�r. without notice tv Tru6�or, may •�
<br /> dea�witi�Trustar's successors w�th referanc�t�this Deed v�f Truat end ths I ndebtetiness by w�y oi fiarbaer�nce ar
<br /> e�tensian without releesing Trustor fram the oa�igationa af t�t�s Deed a�T�ust or 1i�bility under the Indebtedness.
<br /> Tim�is vf tha Essence. Tim�is of the essen�e in the perfo�mence�f this Deed vf Trust.
<br /> Wai�a Jurx. A!I partias to th�s �eed a�Trust hs�sby wal��tha r�ght ta 4ny�urY trlal in any action. p��oa�din9, or
<br /> counta����im�bra�ught by�'ty party against any othsr party.
<br /> Wai��r o� Homastead �x�mptivn. Trustor hereby raleese� �nd wai�es a�E rights and b�ne#its of �he h�m�s�ead
<br /> exemptivn lews of tha State o�Nebreska�s ta���Ind�btedness secured by this pead of Trust. '
<br /> L7EFIN1Tl�NS. Th�a f����wing�epita�ized words and terms shali M��a the tollawing meanings when used i�thi� Deed a�
<br /> Trust. Unlsss specifically ststed to the con#rsry, ell refer�nces#a doll�r amvunts sh��i mean amounts in I�w#u! ma�ney
<br /> ❑f the U nited S#ates ❑f Americ�. Words end terms used in tl�e s�nguler shali include the p�uras, and the plural shall
<br /> i nclude the singulsr, as the context may require. Words and t�rms not otherwise def�n�d in thi� Deed of Trust shall
<br /> ha�e the meanin�s att�iauted'to such t�rms in the Uniform Commerciel�ade:
<br /> �
<br /> �aneficiary. The word "Bengticiary" means ExGhsnge Sank� �nd its sucGess[�rs end essigns.
<br /> Bor�r�wvr. The word "Borrower" mean� MI�HAEL P FiANNDN end KlMBERL.Y S HANN�N and �n�lude� alE
<br /> cv-signsr�and ca-makers�igning�he Note�and e!!their succsssor�and assigns.
<br /> Deed of Truat. The wards "�eed c�f Trust" me�n this Deed vi Trust among Trustar, l�ender, and Trustee, and
<br /> includas without limitatian al� assi�nment and security inter�st pro�iss�ns re��ting to the Personal Property and
<br /> RentS.
<br /> �efault. The word "Defau�t" means the Default set forth in this Deed o�Trust in the�ection titled "Defeult".
<br /> En�irar�me�t�1 L�ws. The W��dS "En�ironment�l L�ws'� mean any and a!� state� tedera� and ia�a� stetutes,
<br /> regulations and ordinances relatin� tQ the prvt�ction of lu�'��-.health_.,,�p,�,�„�n�ri�'�[�nent, includin� withput
<br /> limitati�an th� Cvmpre�ensi�e En�ironmental #�esponse, Gomp�ensatsan, an��„iabi��A���of 1 SBQ� �s amer�ded, 42 '
<br /> U.S.�. Sectian 9�q1, et seq. � CERCLA �, the Sup�rfund Am��dr��n�s ��Fie��or�zetian Actso� '19�6, Pub. L,
<br /> No. 99M499 �"SARA"f. the Haza�rdaus M�terials Transpartat�c�n��Gt.�9 lJ.�:�C. S�c�pvn�1,�t�eq.�ti�e Resource
<br /> Canservatiqn and Reco�ery Act. 42 U.S.C. Section 6941, ���e�[�;, br vt�'�pp#tCabte staxe flr federel laws. rules,
<br /> or regulatians�dapted pursuant theret�.
<br /> E�ent of Def�ul#. The►►vards "E�ent of Default" mean any vf the e�ents ot det�u�t�et for#h in this ❑eed Q�Trust in
<br /> the e�ents of ciefault saction of this Deed of Trust.
<br /> Guaranty. Ths word "Guaranty" means the guar�nty trom guerentor� end�rser. sur�ty, or accommodatian perty to
<br /> L�nder, in�lud�ng withaut limitatian��uaranty of a11 vc part of the Nvte.
<br /> Ha�ardofus 5ut�stsn�es. 1'he words "Hazardvus Substenc��" m�an meteria�s that. because af their quantity.
<br /> can�en�rativn or physical, �hemical ar infe�tiaus charact�ristjcs. may ceuse or pas� � present ar potentiai h�zard
<br /> ta humen heslrh or thq en�ironment when smprop�ri�r us�d. treated. stored� disposed rsf, generated, m�nu�a�tured,
<br /> trans�rted or atherwise handsed. The words "Ha�ardaus 5uhstances" ars used in their�ery braadest sense and
<br /> include w�thout �imitation any and a�� hazardous ar toxic substsnces� materi�ls ar waste as defined hy or listed
<br /> under the En�irvnm�ntai Lews. The term "Hazardaus Substances" alsv�ncludea,without i+mitation. p�trateum and
<br /> p�t�o�eum by-products or any frsctian the�eof and esbestas.
<br /> Improvemant�. Tha word "�mp�ra��ments" ma�ns ali exist�ng and future impr�►►ements, buiEdings, siructures,
<br /> mab�#g home� affixed an the Rea! Property, faciliti�s, additian�, rsplacements and ath�r construCtion on the Real
<br /> Prc�pe rty.
<br /> indebtednes�. The v+rvrd "�ndabt�dn�ss" meens a��l principai, int�rest, snd other amaunt�, cvsts and expenses
<br /> payabl� und�r the Note or Re��ted D�cuments. tagether with all renewaEs of. ext�nsions of, modification� of,
<br /> consolid�tians❑�and sui�st�tutivns fvr the Natp or Re�eted Do�uments�nd�ny amflunts ex�ended ar sdv�nced hy
<br /> Lendsr t� discharge Trustor's a�lfgatians �r gxp�nses incu�red hy Tru�tea or Lender ta �nforGe Trus�vr's
<br /> abligations under this Deed of Trust, toyether with interest on such amounts as pro�ided in this Dees� ot Trust.
<br /> Spe�i#i�es�y, w�thnut �imftation, lnd�htedness includes the tuture ad�an�es �et forth in the Future Ad�►�n�es
<br /> p�a�isia�n, together with all intarest thereon �nd all amvunts that may he indirgct�y secured by tha
<br /> Cross-Cv�l�atgrali�ation p��►►ision�f this Deed of Trust.
<br /> Lender. The ward "Lender" m�ans Exchange Bank, ixs successvrs�nd a�aEgns.
<br /> Nata. The ►ruord "N�te" means the promissory note dated M��rch 7, ZQ1�, in the or�gin�l prin�ipal amount
<br /> []f $�5�.(���.�� �ram Tru�tor �o L�nder, together with ��I r�newais of, px�ensions of, modifi�atinns ❑�,
<br /> refinancings of, consosidetians of, and su�stitutions�or the promissory note ar agresm�nt.
<br /> Persona� Property. The wards "Pers�na� Praperty" m�an �#� equipment. ��xtures, and �ther articles of persona�
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