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2� 1 ��4�49
<br /> �EE� oF TRus-r
<br /> �Cor�tinued} Pa�e �
<br /> �heir successors in inte�-est. The successor trustee, withvut �on�eyance of�he Prop�r�y, �hall succeed to al[ �he
<br /> titIe, powerr and �tu�ies conf�rred upon the Trustee�n�his Deer�v�Trust anci by appli�able I�w. This procedure�or
<br /> � substitutzon of Trustee shall go�ern to�he exclusion of al[other pro�isions for substitution.
<br /> N�T�CES. Any natice required t� be given under�his Deed of Trust, inc�uding withvut�imitation any na�ic� of de-Fault
<br /> and any nntice ❑f saIe si�all be gi�en in writing, and shall be e�F-�e�tirre when ac�uafiy deli�ered, when actuaIIy recei�ed
<br /> by tele�acsimile �unIess otherwise required by Iaw},when d�posited with a nationaIIy recognized ❑vernight courier, a�, i'�
<br /> mailed� when deposited in the United ��ates maiI� as firs�class� certi�Fied or�-egis�ered mai! pvstage p�epaid, direc�ed t❑
<br /> �he addresses shov►rn near�he beginning of�th�s Deed of Trust. A�� copies ot notices o�F foreciosure �rvm �he hoIder of
<br /> any �ien which has priority ove��his ❑eed o�Trusfi shaIl b� sent�o Lender's address, as shown near�he beginning of
<br /> this �eed of Trust. Any person may �hange his ❑r her add�ress for no�ices under this ��ed ❑f Trust by giving �ormal
<br /> writ-zen noti�e ta the other person or persons, speci�ying that the purpose of the notice is �❑ �hange the persan's
<br /> address. Far notice purpases,Trustor agrees ta ke�p Lender informed at aII fimes of Trustor's curren�address. Unless
<br /> ❑fihe�-wise pro�ided or requir�d by Iaiiv, if there is mare than one Trustor, any no�i�e gi�en by Lender ta any Trustor is
<br /> deemed to be nvt�Ge given to a!1 Trustors, j�wiil he Trus�or's r�spansibility�o teII the a�hers❑f the notice-From Lender.
<br /> MISCELLANE�US PRDVISI�NS. The faIIowing mis�ellaneous provisians are a part❑f this ❑eed ❑f Trust:
<br /> Amendments. V1lhat is written in �his Deed a�Trust and in the Related C�acumen�s is Trustor's �ntire agreemen�
<br /> wi�h Lender concerning�he matters co�ered by this Deed o�Trus�. T❑ be efi�ecti�e, any change or amendmen��a
<br /> this I�eed of Trusf mus�be in wrifing and must he signed by whoever wi[f be bvund ar obligated by the change or
<br /> amendment,
<br /> Caption Headings. Caption headings in this Deed of Trust are far con�enience purposes only and are nat to be
<br />, used to interpret or define the prarrisions o�this De�d af Trust.
<br /> Merger. There shaiI be no merger vf the interest or estat�created by this ❑eed of Trust with any other�nteres�or
<br /> estate in the Properry at any tim� heid by vr for the bene�it of Lender in any capacity� withou��he written consen�
<br /> of Lender.
<br /> Governing Law. This Deed af Trust wi�l be g��erned by f�dera� Iaw applicable ta Lender and, ta the extent not
<br /> preempted hy federa�law.the laws af the State of Nebraska withou-t regard�o'rts canflicts af Iaw prvvisions. This
<br /> Deed of Trust has been accepted by Lender in the State af N.�braska.
<br /> �hoic� of Venue. if there is a Iawsuit, Trustor agrees upon Lenderrs re�uest to submit�o �he jurisdic�ion ❑f�he
<br /> courts o�F HaII County, 5tafie of N�braska.
<br /> Joint and Severa� Liab���ty. All ❑bl�gations af Trustor under this Deed of Trust shall be joint and se�eral� and all
<br /> referen�es t❑ Trustor shall mean each and e�ery Trustor. This means tha� ea�h Trus�or signing below is
<br /> �esponsible far al! ❑l�ligations in�his Deed of Trust.
<br /> No Waiver hy Lender. Trustor understands Lender will not give up any o�Lender's righ�s under th�s Desd o�Trus�
<br /> uniess Lender does s❑ in writing. The fact that Lender de�ays or omits to exercise any �right will not mean tha�
<br /> Lender has gi�en up that right. lf Lender daes agree in writing to give up one of Lender's �ights, that do�s not
<br /> m�an Trustor wiII not ha�e �o compIy wi�h �he o�h�r provisivns o�this Deed af Trus�. Trustor also understands
<br /> �hat if Lender do�s con�ent to a r�ques�, that does not m�an �hat Trus�or will nv� have t❑ get Lender'� �ons�n�
<br /> again if�the si�uation happens again. Trustor further understands that just becaus� Lender consen�s�o one or mor-e
<br /> ❑f Trusto�-'s requests, that does not mean Lender wiII be required to Gonsent to any of Trustorrs �Futur� requests.
<br /> Trustor wai�es presentmen�, demand�o�payment, prat�st, and no�ice❑f dishonor.
<br /> SeverabiIity. [�a caurt finds that any p�o�ision ❑�thxs I�eed ❑�Trust is not�alid or shauId not be en��rced, �tha�
<br /> faGt by i�self wiII nat mean that the rest af this De�d of Trust w'rll not be vaIid or enforced. There�orer a caurC`wi�1
<br /> snforce the res�of�he provisivns ❑f this Deed af Tru�t even ��a provis�on❑t thss Deed ot Trust may be�aund to be
<br /> in�alid or unen-Forceabie.
<br /> SuGcessors and Assigns. Subject to any [imitations stated in this Deed of Trust on transfer of Trustor's in�erest, �
<br /> this Deed of Trust shail be binding upon and inure ta �he bene�it of�he partzes, their successors and assigns. I�
<br /> ' ownersh�p of the Praperty becam�s�ested in a person other than Trustor, Lender� wi�hou� na�ice�❑ Trustor, may
<br /> deal with Trustor's successors wi�h reference to this Deed of Trust and the Indebtedness by way of�vr-bearance or
<br /> ext�nsion witnvut releasing Trustor from the obliga��vns a�F�his Deed❑f Trust o�-liabiiity under the Inde�tedness.
<br /> Time is vf the Essence. Time i�af the essence�n the performance❑f this Deed❑f Trus�. ' '
<br /> W�i�er of Hamestead Exemp�ian. Trustor hereby releases and waiv�:s aI� rights and bene�its ❑�F the homestead
<br /> exemptian laws o�F the 5tate of Nebraska as�v a1� Indeb�edness secured by this ❑eed o�Trust.
<br /> ❑EF�NITI�NS. The foIIawing wards shaII have�he fvllawing meanings v►rhen used in fhis Deed ❑f Trust:
<br /> Benefciary. The word nB�neficiary" means Exchange Bank, and i�s successors and assigns.
<br /> Borrower. The ward "Borrower" means S�e�en D. Gratopp and Lynda G. Gratopp and �ncIudes aIj co-signers and
<br /> ca-makers signing the Credit Agreement and a�i fhe�r successors and assigns.
<br />� �redit Agreem�nt. The words nCredit Agreement" mean the credi�agreemen�dated Ju�y '�8� �D16, with credit
<br /> [�mit of $4�r���=�D �rom Trus�ar t❑ Lender, toge�h�r with all renewals ❑�{ �xtensions o�, moditi�ativns ❑f,
<br /> refinancings of, consolida��ons of, and substi'tutivns�For the promissory note or agreement. N�TiCE T� TRU�TaR:
<br /> THE CREDIT AGREEMENT Ga�ItTAINS A VARIA�LE liIITEREST RATE.
<br /> . �eed of Trust. The words "D�ed of Trust" mean thi� Deed of Trust amang Trustor, L�nder, and Trusfee, and
<br /> includes wi�haut limitation aII assignmen� and security in�eres� pro�is�ons relating t❑ the Per�onaj Property and
<br /> Rents. .
<br /> EnvironmentaZ L�ws. The words nEn�ironmenta� Laws" mean any and aII sta�e, federal and �oca� statutes,
<br /> regufations and ordinances refating t❑ th� prot�ction of human health or the envirvnment, in�fuding wifhouf
<br /> Iimifa�ion the Compr�ehensi�e En�ironmen�aI Response{ Gompensation� and L�ability Act af `I98�, as amended, 42
<br /> U.S.C. Section 96fl'�r e�seq. �"CERC�..A'�}�the Sup�r�und Am�ndments and Reau�horization .a�t of �986f Pub. L.
<br /> Nn. 99�499 �"SARAtt}r�he Hazardaus Materiais Transparta�ian Act,49 U.S.C. Section 'I 84'I r e�seq.,the Resource
<br /> Cansenration and �ecvvery Act, �-� U.S.C. Section 69�'I� e�seq., o�-other applicable s�ate ar f�deraI Caws, �uIes,
<br /> or reguIations adop�ed pu�-suan�thereta.
<br /> Ev�nt of DefauIt. The words TMEvent of DefauI�" mean any of th�even�s o-F defauI�se�forth in�his ❑e�d of Trust in
<br /> the errent�❑f defauIt section of this Deed o�T�ust.
<br />, Existing Indeh�edness_ The words "Existing jndeb�ednessn mean the indebtedness described in the Exis�ing Liens
<br /> �rovision❑f this Deed af Trus�.
<br /> Hazardous Substan�es. The words "Hazardous Substances" mean materials that, be�ause of their quantity,
<br /> concentra�ion or physical, chemica� or infectious charac�et�istics, may �ause or pose a pt�esent ❑t' potent�al hazard
<br /> to human hea[�h or the environment when imp�roper�y usedr�reated, stored, disposed of, generated, manu�Factured,
<br /> �ranspvrted or o�therw�se handIed. The words "Ha�ardous Substances" are us�d in their�ery Iaroadest sense and
<br /> include without Iimztation any and aII hazardous or toxic subs�an�es� mat�rials or waste as de�ined by or Iisted
<br /> under�he Environmental Lavvs. The tet�m nHazardaus Subs�anc�stt also incIudesr wi�hout fimitation, petroleum and
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