|
2� 1 ��2�95
<br /> ���� �� �����
<br /> Loan h�v: ����� ����t�r�ued� Page 7
<br /> No Wai�er by Ler�der. Lender shaIl not be deemed to have v�aived any rFghts unde�this De�d a�T�-us� unless such
<br /> wai�er�s given in writing and signed by Lender. No delay or omission ❑n�he part of Lender in ex��cising any righ�
<br /> sha11 operate as a wai�er of such right or any other right. A wai�e� by Lender�f a pro�ision ❑�this Deed o�T�-us�
<br /> shall n�t prejudice ❑r constitute a waiver ❑� Lender`s right o�herwise �❑ demand s�ric� comp�iance with that
<br /> pro�isian ar any ❑ther provision ❑�F this Deed o� Trus�. No prior waiv�r by Lender, nor any course o� dealing
<br /> betv�een Lender and Trusto�, shal� consti�u�e a wai�er of any a� Lender's righ�s ❑r ❑f any of Trustor's ❑bliga�ions
<br /> as �o any future �ransacti�ns. VVhene�er�he �onsent of Lender is r�equired under�his Deed ��Trust, �he gran�ing
<br /> ❑f such �onsent by Lender in any �ns�ance shall na�t cflnstitute continuEng consent t❑ suhsequent instances where
<br /> such consent is required and in al! cases such consent may be granted or withheld in the sole discretion❑�Lender.
<br /> 5e�rerab��ity. !� a caurt o� competent�urisdict�on finds any prv�isian af�his Deed of Trust�o be i!legal, �nvalid, or
<br /> unen�a�ceable as t❑ an}� �ircumstan�e, that �inding shaIl not make th� o�fending pro�isian il�egal, invalid, ❑r
<br /> unen�arceab�e as �o any o�her c�rcumstance. If �easE��e, the ❑f�ending provision sha�� be cansidered madi�ied sv
<br /> tha� it becomes legal, vaiid and en�orceabfe. !f the v��Fending provision cannat be so mod��ied, it shaII be
<br /> cansidered dele�ed fram this Deed o� Trus�. UnIess ��t�erwise required by law, the ilIega�i�y, in�a�idity, or
<br /> unen�orceabiIity v� any provisi�n o�this D�ed a�Trust shalf nat a�fect the �egali�ty, validity or en�ar�eabiii�y of any
<br /> other pro�isian o��his Deed o�T�ust.
<br /> Successv�~s and l�ssig,�s. Subject to any �fmitations stated in this Deed o�Trust on t�-ansfer of Trus�or's interest�
<br /> this Dee� of Trus� shal� be binding upon and inure t❑ t�e benetit ❑� the parties, their successars and assigns. ��
<br /> ownership ❑�the Property becom�s ves�ed in a persan �ther than Trustar, Lender, without notice ta Trustor, may
<br /> dea! with Trusto�'s successors wi�h reference to this Deed o�Trust and the Indebtedness by way of�orbearance or
<br /> extension without releasing Trustor�r�m �he obIiga�ions of�his Deed a�Trust or Iiability under the indeb�edness.
<br /> Time is �f the Essence. Time is o��he essence in the performance a�th�s Deed❑�Trus�.
<br /> Wai�e�' af Homestead ExemPtion. Trustar hereby refeases and wai�es all righ�s and bens���s a� the homestead
<br /> exemption latirvs ❑�the State ❑f Nebraska as�to ail Indeb�edness sec�ur�d by�his �7eed o�Trust.
<br /> DEFjNlTI�NS. The folioutiring capitaiized wnrds and terms shail have the �allowing meanings v5rhen used in �his Deed ❑�
<br /> Trus�. Unless speci�ically stated �❑ the contrary, all re�er�nces to dolIar amaunts shal! mean amounts in �awfu� money
<br /> of the United States ❑� America. V1lards and �erms used in the singu(ar sha�1 include the plural, and the p�urai sha!!
<br /> include the singularr as the cantext may require. Wards and terms not otherwise de�ined in this Deed ❑fi Trust shall
<br /> ha�e the meanings attributed to such terms in the Uni�orm Commer�ial Cad�:
<br /> Bene�ic�ary. The word �'Beneficiary" means Heartland Bank, and its successor-s and assigns.
<br /> Borrower. The word "Barrower" means Budsan, inc and �ncludes all co-s�gners and cv-makers signing the Nate
<br /> and aII th�ir�uccessors and assigns.
<br /> Deed of Trust. The words '°Deed �f T�ust" mean th'rs Deed o� T�ust among Trustar, Lender, and Trustee, and
<br /> inciud.es w��Chau� �imitatian aII assignmen� and security �nterest pro�is�ans relating to the Pers�nal Property and
<br /> l�ents.
<br /> Defau�t. The word "Defauit" means�the Defaul�t set�arth in this Deed o�Trust in the section titled "De�au�t".
<br /> En�ironmentai Laws. The words "En�ironmental Laws" m�an any and all state, �ederal and laca! s�atu�tes,
<br /> regu�ati�ns and ordinances rela�ing to the pro�e�tion o� human heafth ar the environment, including withou�
<br /> Iimi�a�ion �he Cc�mprehensive En�ironmen�a! Respanse, Campensation, and Liability Act o� �98�, as amended, 4�
<br /> U.S.C. Sect�on 96D1, et seq. �"�ERCLA"}, the Super�und Amendments and Reautl�orization Act o� �98�, Pub. L.
<br /> No. 99-�-99 t"SARA"}, the Haza�dous Materials Transportation Act, 49 U.S.C. Section 18�1, ��seq., the Resource
<br /> Conserva�ion and Reco�ery Act. 42 U.S.C. Se�tion 69��. �� seq., or ❑ther appiicable state or federa� Ia�rvs, ruies.
<br /> ❑r reguiat�ons adop�ed pursuant thereto.
<br /> E�ent a�De�au��, The wards "E��nt❑��efaul�" mean any Q��he e�ents o�de�au�t set�arth in this Deed o�Trust in
<br /> the events of defauit sectian of�his Deed of Trust.
<br /> Guaranty. The vvvrd "Guaranty" m�ans �he guaranty�rom guarantor, endorser, sure�y, or acc�mmodatian party�o
<br /> Lender, including without�imi�ation a guaran�y of a!I ar part of the Nate.
<br /> Hazardous Substances. The words "Hazardous 5ubs�ances" mean ma�eriais that, because a� their quanti�y,
<br /> c�ncentration or physica�, chemicai or infec�ious characteristics, may cause or pase a present or po�ential hazard
<br /> to human health ar the en�iranment when improperly used, �rea�ed, sto�ed, dispased o�, generated, manu�ractured�
<br /> ��ansported or ❑therwise handled. The words "Hazardaus Suhstances'° a�e used in their �ery br�ades� sense and
<br /> incIude withou� limita�i�n any and alI hazardous ar toxic substances, materials vr waste as de�ined hy or listed
<br /> under the En�ironmenta! Laws. The term "Hazardous 5ubstances" alsa inciudes, without limitationr petro�eum and
<br /> petrafeum by-praducts or any�ractian thereo�and asbestos.
<br /> lmprovernents. The word "Imp�o�ements" means a�] existing and future impro�ements, buildings, s�ru��ures,
<br /> mobile homes a��ixed on the Real Praperty, �aci�ities, additians, rep�acements and other cvnstruc��on on �he Reai
<br /> Property.
<br /> lndeb�edness. The wnrd "lndebtedness" means a!I pr�ncipal, interes�, and ather amflunts, casts and expenses
<br /> payable unde� the No�e or Rela�ed Dacuments, toget�er with ail renewaIs af, extensions vf, modif�cations o#,
<br /> conso�fdatians of and substitu�ions far the Nv�e o�- Related Da�um�nts and any amounts expended or advanced by
<br /> Lender �a discharge T�ustor's ❑bligations or expenses incurred �y Trustee or Lender to enfiorce Trustar's
<br /> ❑bligatians under this Deed of Trust, toge�her with interest on such amaunts as prv�ided in this Deed ❑f Trust.
<br /> Speci�icalfy, w�thou� limitatian, lndeb�edness inc[udes the future ad�ances set forth in the Fu�ure Ad�ances
<br /> pravis�on, tagether with all interest th�reon and aII amounts tha� may be indire�tiy secured by the
<br /> Crass-��IIa�erali�ation provision af this Deed vf Trust.
<br /> Lender. The word "Lender" means Heartland Bank, its successars and assigns.
<br /> Note. The word "Na�e" means the promissc�ry no�e dated April �, 2���, rn �he or�g�na� pr�ncipal amount o�
<br /> $�'��,���.�� from Borrawer to Lender, togeth�r with aII renewals o�, extensians of, modi�ications o�,
<br /> re#inancings of, consolidations of, and subst�tu�ions for the pram�ssary note or agreemen�t. Nt3TICE TD TRUS�QR:
<br /> THE 111�TE C�NTAINS A VAl�IABLE INTEREST RATE.
<br /> Personal Prvper�y. The v�rards "Pers�nal Property" mean a�l equipmen�, f�x�ures, and othe� artic�es of persona�
<br /> proper'ty now ar hereaf��r owned by Trustar, and naw or hereafter attached vr a��ixed �o �he Real Property;
<br /> together wi�h all accessians, par�s, and addi�ions to, aII replacements vf, and a!I subs�itutivns �or, any ❑f such
<br /> property; and toge�her with al! p�oceeds {including withou� �imitation a�� insurance proGeeds and re�unds of
<br /> premiums} from any saie or a�her dispflsi�ion❑f the Property.
<br /> Proper�y. The word "P�operty" means coIle��rively th�: Real Property and the Persvnal Proper-ty.
<br /> Rea� Property. The words "�eal Property" mean �he real property, inte�ests and r�ghts, as fur�he�-descr-ibed �n this
<br /> Deed of Trust.
<br /> Re�ated Documents. The wards "Relat�d I�ocuments" mean a�� promissory notes, �redit agreements, Ioan
<br /> agreements, enviranmentaE agreemen�Cs, guaranties, secu�ity agre�men�s, martgages, deeds o� trus�t, secur�ty
<br />
|