|
2� 1 ��5154
<br /> �]EED �F T'RUST'
<br /> �Cont�nued� Page 8
<br /> amendment.
<br /> Captian Headings. Caption h�adings in this Deed a�T�ust are fo� con��nien�e purposes only and are no� tQ be
<br /> , used to interpret❑r define the p�ovis�ons of this Deed o�Trust.
<br /> �Vlerger. There shall be no merger of�he in�erest or�s�ate crea#ed by this Deed of Trust w�th any other interest or
<br /> estate in the Property at any�ime hefd hy or fQr the bene�i�af Lender�n any�apacity, wifihou��he written cansen�
<br /> o�Lender.
<br /> Go�erning Law. This Deed vf Trust wiI! he governed by federal law applicab[e to Lender and, to the extent not
<br /> preempted by federa� law,the faws of the Sta'�e of Neb�aska without regard to�ts conflicts of iaw p���isions. This
<br /> Deed af Trust has been ac�ept�d by Lender in the Sta�e of Nehraska.
<br /> Joint and Se�eral Liability, Ai� ❑bligations of Trustar under this ❑eed o�Trus� sha�l be jaint and se�eraf, and a1[
<br /> references ta T�us�or shall mean each and every Trus�ar. This means tha� each Trus�or sign�ng befaw is
<br /> responsible for a�l obliga�ions�n�his De�d�f Trust.
<br /> Na 1NaiWer hy Lender, Trustor understands Lender will no�give up any❑f Lender's righ�s under this ❑eed❑�Trus�
<br /> unless Lender daes so in w�iting. The fact tha� Lender de�ays or omits to exercise any right will no� mean thaf
<br /> Lender has gi�en up �hat r�ght. �f Lender does agree in writing to give up vne ❑�Lender's rights, tha� does nat
<br /> mean Trus�or wi11 na# have ta �omply wi�h th� ather pr�visians af this Deed of Trust. Trustor alsa understands
<br /> �ha� if Lender daes consent to a request, that does not mean that Trustor vvill no� have to get Lender's can�ent
<br /> a�ain if the situa�i�n happens again. Trustor further unders�ands�hat just because Lender cansents to�ne or mare
<br /> of Trus�or's �eques�s, that does not m�an Lender will b� r�quired �o Gansent �o any ��T�ustor°s future requests.
<br /> Trusfor wa��es presen�ment, demand fo�payment, protest, and no�ice a�dishonor.
<br /> SQ�erability. If a court finds tha� any pro�ision of�his ❑eed ❑f Trust is not valid or should not be 2n�orced, tha#
<br /> fac�by itself wifl nat mean thaf the rest o�F this Deed of Trust will n�t be val�d or en�arced. Therefore, a cou�t wi�!
<br /> enforce#he rest of the pro��sions❑�this Deed❑f Trust ev�n �f a pravision�f this Deed o�Trust may be found�o be
<br /> �nvalid o�unenforceable.
<br /> Succ�ssors and Assigns. Subject�a any limitations s�a�ed in this Deed of Trus� on transfer afi Tru�tflr`s interest,
<br /> th�s Deed af Trust shall be binding upan and �nure �o �he benefi� of the parti�s, �heir successors and assigns. �f
<br /> awnership of the Proper�y becomes Wested in a person other than Trus#or, Lend�r, without notice �o Trustar, may
<br /> deal with Trustor's successors with �ef�rence ta this Deed ❑fi Trust and the Indebtedness by way o��orbearance❑r
<br /> ex�ension vuithou�releasing Trustor f�om the obfiga�ians of this De�d of Trust or�iab�lity under�he lndebtedness.
<br /> Time is vf the Essenc�. Time is of�he essence in�he perfa�mance of this Deed of Trus�.
<br /> V1Jai�er af Homes�ead Exemption, Trus�ar hereby releases and wai�es alf rights and bene�its of the homestead
<br /> exemption laws af the Stat�❑f N�hraska as�o all Indehtedness secured by�his De�d o�Trust.
<br /> DEFIN[TIQNS. The following words shall ha�e the fol�aw'tng mean�ngs when used in this Deed af Trus�:
<br /> Beneficiary. The ward "Beneficiary" means BANK�F THE WEST, and its successo�s and assigns.
<br /> 6orrow�r. The word "Borrowe�" means MICHAEL E HARMS and RAYDENE F HARMS and in�fudes al] c�-signers
<br /> and co-makers signing the Cred��Agreem�nt and all their successors and assigns.
<br /> Credit A�reement, The words "Credi� Agreemen�" mean the credit agreemen� da�ed Augus� 3, 2�'i 5, w'Nth
<br /> cred�� I�mi'� of$�t�,�D�.�❑fram T�ustor�o Lender,toge�her wi�h all renewals of, ex�ensians o�, m�difications
<br /> ❑�, refinancings❑f, consolida�ions o�, and subs�itutions�or the promissory note a�ag�eement. The matur��y date of
<br /> this Deed o�Trust�s August 8, ��4�. NOT�CE T�TRUST�R: THE CREDiT AGREEMENT C�NTA�NS A VARIABLE
<br /> INTEREST RATE.
<br /> Deed of Trust. The words "Deed of Trust" mean this Deed o�Trust amang Trus�or, Lender, and Trus�ee, and
<br /> in�ludes without limi�atian afl assEgnment and securi�y inter�s� proWisions relafiing fa the Personal Property and
<br /> Ren#s.
<br /> Enviranmental Laws. The words "En�ironmenfal Laws" mean any and a!I sta�e, federal and lo�al statu�es,
<br /> regufa�ions and ordinances rela�ing �o th� pra�ect�on of human heafth ar the en�ironm�nt, in�luding wi�h�uf
<br /> fim�tat�on �he �amprehensive Environmental Respanse, Gompensation, and Liabi�ity A�t of 198�, as am�nded, �4�
<br /> U.S.C. Sec�ian 96�'�, e� seq. �"GERCLA"}, �he Superfund Amendments and Reauthorization Act o�`�986, Puh. L.
<br /> No. 99�499�"SARA"}, �he Hazard�us Materials Transportation Ac�, 49 U.S.C, 5ec�ion '1 S�'1, et seq., the Resour�e
<br /> Conservatian and Recavery Act, �2 U.S.C. Section �9�'1, et seq., or other app�icab�e sta�e or federa! laws, rules,
<br /> or regufa#ions adop�ed pursuant�hereto.
<br /> E�ent of Defaul�, The words"E�ent a�F D�fau(t"mean any�f th�e�ents❑�defau�t set�orth in th�s Deed of Trust in
<br /> the e�ents o�default section of this Deed o�Trust.
<br /> Existing lndeb�edness, The wards "Existing Indebfedness" mean�he indebtedness described in the Existing Liens
<br /> p�av�s��n o�this D��d o�Trust.
<br /> Hazardous Suhs#anc�s. The words "Hazardous Substan�es" mean materials that, hecause a� their quantity,
<br /> �ancentration or physi�al, chemica� or infecti�us charac�eristics, may cause or pose a present or potentiaf hazard
<br /> to human health or the environment when impraperly used, treated, stored, disposed of, generated, manufa�tured,
<br />
|