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2� 1 ��37��
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<br /> �EED �F TF�UST
<br /> �Continued� Page 7
<br /> Joint end Se�erel Liebil�ty. All abligations o� Trustor under this ❑eed af Trust shali I�e jo�nt and seu�ral, and a�f
<br /> references to Trustor she�l mean eaCt� �n� every Trustor. This means that each Trustor sign�ng belvw is
<br /> respons�ble f�r all obligation$in this Deed of Trust.
<br /> No Waiver b►�Lendar, Lender sha11 nat b�deemed ta ha�e wa4a�d any rights under this Deed of Trust Unless suGh
<br /> wai�er is gi�en in writing and signed by Lender. Nv delay ar omission on the part of Lender in exerCising any right
<br /> shall aperate as�wa�iwer of such right ar any other ri�ht. A waiuer by Lender of a pra�i�ion�f this D�ed af Trust
<br /> shall nat pr�judic� or c�nstitute a waiver �f L�nder's �ight otherwise t� d�mand strict compliance with that
<br /> prvvisian or �ny other pro�ision of this []eed of Trust. Nv prior waEver I�y L�n�er, nor any course af dealing
<br /> betwe�n Lender and Trustor, shall constitute a wai�er of any afi Lender's rights or oi any of Trustor's abligati�ns
<br /> a�to any #uture transactions. Wh�ne�er the �ansent of Lend�r is required under this ❑eed oi Trust, the granting
<br /> of such �onsent by Lender in any instance shall not ��nstitut� continuing �onsent to subsequent instances where
<br /> such�onsent is required and in all cases su�h consent may he granted o�withh�ld in th�s�le dis�r�tivn af Lender.
<br /> Se��ra�ility. if a court of campet�nt jurisdiction finds any prvuistan�f this Deed�f Trust to b�ille�al, inWa�+d, o�
<br /> unenf�rc�able�s ta anY person or cir�umstance, that finding shall nvt mak� the off�nding prv�ision illegal, invalid�
<br /> �r unenforceable as to any othe� p�rsan ar circumstance. It ���si�le, xhe otf�nding pr��isian shall be c�nsid�red
<br /> modified so that it becomes iegal, valid �nd enforceable. if the�ffending provision�annvt be so modified, it shall
<br /> b� cansider�d de�eted fr�m this Deed of Trust. Untess otherwise required �y law, the +Ilegali�y, invalidity, ar
<br /> unenf�rceability of any pra�i�ion of this Deed of Trust sha!! nut affect the legafity. �ralidity or enfarceability vf an�
<br /> ❑ther pro�ision af this Qeed af Trust.
<br /> Su�c�ssars and Assi�ns. 5ubje�t to any limitatians stated in this ❑eed of Trust on transfer ort Trust�r's interest,
<br /> this De�d of Trust shall be binding upan and inure ta the benefit of the partie�, their successars and assigns. If
<br /> ownership af the Property be�omes vested in � person vther than Trustor, Len�er, without nati�e to Tr�,stor, may
<br /> deal with Trustor's suc�essvrs with refer�nce to this Deed of Trust an�xhe Indebtedness by way af�ork�earan�e or
<br /> extensivn withaut releasing Trustar from the abligatians of this D�ed of Trust ar tiability und�r the Indebtedness.
<br /> Tim�is of th�Ess+�nce. Time is af the essence in the performance vf this Deed of Trusx.
<br /> W�ive Jury. A!I parties ta this De�d of Trust hereby wai�e the right ta any jury trial in any act�on, pr�Gsedin�, vr
<br /> cvuntercl�im brou+ght by any party ag�inst any othar p�rty.
<br /> Wai�e� a� Hon��stsad Ex�mptivn. Trustar hereay releases and vtiraives all ri�hts and b$nertits af the hornestead
<br /> �xemption taws o�the State of Neara�ka as ta all Indebtedness secur�d by this De�d o�Trusi.
<br /> DEFIlVlTI�NS. The fvllowing �apitalized wQ�ds and terms sh�ll have the following meanings when used in this �eed ofi
<br /> Trust. Unless s�ecifically stated to the cantrary, all r�ferences ta dollar amounts shell m�an a�mvunts in lawful rnane�r
<br /> af th� Unit�d States o# America. Words and terms used in the singular sh�ll include th� plural, and the plural shafl
<br /> include the singu�ar, �s the conte�ct ma� requir�. Wards and terms not atherwise defined in this De�d afi Trust shalf
<br /> ha�e the rneanings atifibuted to such terms in the Unifarm Cammercial Cade:
<br /> ��n�fi�iary. The ward "Beneficiary" means Exchange Bank, and its successars and assigns.
<br /> Borrowsr. Ths wvrd "Barrawer" rneens �1Aichael A Panowicz and Patricia AA Panawicz and incluc�es af� ca-signeis
<br /> and co-makers signing the Note and all th�ir successors and assi�ns.
<br /> Deed a� Trust. The words "Deed v� Trust" mean th+s Deed of Trust amang Trustor, Lender, and Trustee, and
<br /> inctudes withaut limitat+vn all assignment and secur�ty in#eresi pro�isi�ns telai+ng to th� Persanal Pr�p�rty and
<br /> Rents.
<br /> D�fault. The wQrd "aefault" means the ❑efault set forth in this Deed�f Trust in the section titfed "a�fault".
<br /> En�ironmental L�ws. The words "Environmental Laws" m�an �ny and all state, federal and 1Q�al statutes,
<br /> regu�ations and ordinances relating ta the pr�te�t�an af human health or the environment, includ'+ng withaut
<br /> limitation the C�mpr�hensi�e Environmenta� Response, �ampensar�on, and Liabilit�► Act af ]98�, as amended, �2
<br /> U.S.C. Sectian 9��1, et s�q. �"CER�LA"}, the Super�und Amendments �nd Reautharization Act of 19$fi, Pub. L.
<br /> N�. �9-499�"SARA"�, the H��ardous Mater�als Transportatian A�t, 49 U.�.C. Secrion �801, �#seq�, the R�source
<br /> Conservation and R�coverY Act, 42 U.S.�. Sectian Sg41, et seq., or ather applicable state or federal laws, rules,
<br /> ar regulatians adop[��p�rsu�nt thersto.
<br /> E�ent of Default, The word�"E�ent vf Default" mean any�f the��ents of default set forth in thi� Deed vf Trust in
<br /> th�events of default section of this Deed af Trust.
<br /> GUar�nty. The word "Guarant�r" means ihe guar�nty from guarant�r, endurser, sur�tyr or accomm�dation party to
<br /> Lender, including withoux lim+tation a guaranty of all or part of th� Note.
<br /> H�iardous Substan�es. The wards "Ha�ardaus Substan�es" mean materials that, because of their quantity,
<br /> cancentrati�n or physi�al, chemical vr inf�ctious character+stics, may cause�� pase a present or pot�ntial ha�ard
<br /> to human health or the enuiranment when impraperly used, ireated, stored, disposed oir, �enerated, manufactured,
<br /> transparted or ath�rwise hendled. The words "Hazardvus Substances" ar� used in their Wery broadest sense and
<br /> inclU�e withvut limitetion any and al! ha�ardous or toxic substances, materiafs �r waste as define� by or iis#ed
<br /> und�r the Environmental Laws. The term "H��ardtius Su�stances" alsa includes► without limitativn, petroleurn and
<br /> petrQleum by-pr��lucts ar any fracti�n thereof and ast�esta�.
<br /> impra�err�ents. �he w�rd "Improvements" meanS all existing and future impra�ements, buildings, stru�tures,
<br /> mobtle hames a�fixed on the Real Property, facilities, additi�ns, repl�c�rn�nts and other con�truction �n the Real
<br /> Pro�e�iy.
<br /> Indebtedn�ss. The word "Indeatedness" means all princEpa�, interest, and other arnaunts, cvsts and expenses
<br /> payabie under th� IV�te or Related Do�uments, tog�ther witn a[I renewals af� ext�l�slon5 ❑f, madifications ❑f,
<br /> cansalidatians af and�ubstitut�ons far the Note or Relatet! Documents and any amaunts expende��r ad�an�ed k�y
<br /> Len�ier t� dis�harg� Trustor's obligatiQns �r expensQs incurr�d by Trustee or Lender to �nfor�e Trustor's
<br /> �bligations und�r this De�d vf Trust, tagether with interest on such amounts as pra�+ded in #his ❑�ed ort Trust.
<br /> Spe�ifically, without limitation, tndebtedness in�ludes th� �Uture ad�ances set forth in the Future Adv�nces
<br /> pro�isian, together with al� interest ther�on and al1 amounts that may be indire�tl� secured by the
<br /> Cross-CallateraEizatiQn prouisi�n of this Deed af Trust.
<br /> Lender. The word "Lender" means Ex�han�e Bank, i#s successors and assigns.
<br /> N�#e. The w4rd "Note" rineans t�e promissory nQte dated June 1 5, 2016, in the original principal amount
<br /> Qf $�$$■�S�.Q� from Trusior ta Lender, to��ther with �II renewals of, extensi�ns af, madifications of,
<br /> refinancings of, cansolid�tians�f, and substituti�ns f�r the pramissvey nvte or agreement. N�TICE T�TRUSTQR:
<br /> THE NOTE C�IVTA[NS a V�4RIAgLE IIVTEREST RATE.
<br /> Pe�sonal Praperty. The wards "�ersonal Property" mean all equiprnent, fixtures, ar�d other articles vf personal
<br /> property naw ar hereafter owned by Trustor, and now �r hereafter att�ched ❑r affixed to the Real Property;
<br /> #ageth�r with a�! �c�es�ians, parts, and additivns to, all replacements of, and all substitutions #or, any of such
<br /> �ro�erty; and togethe� with all pro�eeds �includin� without limitatian al� insurance praceeds and refunds af �
<br /> premiumsy frvm any sale or other disposition af th�Pr�perty.
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