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2� 1 ��5477
<br /> DEED �F TRUST
<br /> ��antinued� Page 7
<br /> references to Trustor shail mean each and e�ery Trustor. This means that each Trustor signing below is
<br /> responsible�or all obligations in this Deed of Trust.
<br /> No Vllai�er by Lender. Lender shell not be deemed ta ha�e wai�ed any rights under this Deed of Trust unlsss such
<br /> wai�er is gi�en in writing and signed by Lender. Na de�ay❑r amission an the part of Lender in exer�ising any right
<br /> shall operate as a w���er o#such right or any ather right. A waiver by Lend�r of a pro�isivn of this De�d of Trust
<br /> shali not prejudice or constitute a wai�er of Lender's right �therwise t❑ demand str�ct �vmpliance with #hat
<br /> prv�ision or any other prv�ision of this Dsed of Trust. No prior wai�er by Lender, nor any cvurse of dsaling
<br /> between Lender and Trustor, shall canstitute a wai�er of any of Lender's rights ar vf any vfi Trus#or's obligations
<br /> as to any #uture tr�nsactions. Whene�er the cvnsent of Lender is required under this Deed vf Trust. the granting
<br /> of such consent by Lender in any instance shall not constitute cvnt�nuing cvnsen�tv subsequent instances where
<br /> such�onsent is required and in all ceses such consent may be granted or withheld in#he sole discretion of Lender.
<br /> Se�erability. I#a court of cvmpe#ent�urisdiction finds any pro�ision of this Desd of Trust to be illegal. in�alid, or
<br /> unenforceeble as to any ps�son or circumstance, that#inding shall not make the offending pro�is+on illegal, in�alid,
<br /> ar unenfarceable as to any ather person vr circumsta�ce. If #easible, the ❑ffending prov�sion shali be �onsidered
<br /> modified so that it be�omes legal, �alid and en#orceab�e. if�he offending prv�isian cannvt he sa madified, it shall
<br /> be considered dele�ed from this Deed of Trust. lJnless otherwise required by law, the illegality, in�alidity. ar
<br /> unenforceabi�ity of any prv�ision o�this Deed o�Trust shall not affe�t the legaiity. ►►alidity vr snfarceability of any
<br /> ❑ther pro�ision of this aeed af T�ust.
<br /> Successors �nd Assigns. Subject to any limitations stated in #his Deed of Trust on transfer vf Trustvr's intsrest,
<br /> this ❑eed of Trust shall bg binding upvn and inure to the benefit o# the parties, #heir successors and assigns. If
<br /> vwnership of the Prvperty becomes �est�d in a person other than Trustor. Lender, withaut notice to Trustar� may
<br /> deal with Trustor`s successors wi#h r�ference to this❑eed of Trust and the Indeht�dness hy way of forb�aran�e ar
<br /> extensian without releasing Trustor fram the ahligations of this Deed❑f Trust vr liability under the Indebtec�ess.
<br /> Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br /> Vllai►►e Jury. All parties to this Dead vf Trust hereby wai�e the rish�to eny jury trial in eny action, praceeding, or
<br /> counter�laim brousht by any party against any other party.
<br /> Wa��er of Hvmesteed Exemption. Trustvr hereby releases and wai�es all rights and benefits a# the hvmestead
<br /> exemption laws of the State of Nebraska as ta all �ndebtedness secured by this Deed�f Trus�.
<br /> DEFINITIQNS. The faliowing capitalized wards and terms shall ha�e the following msanings when used in this ❑egd of
<br /> Trust. Unless specifically stated to the contrary, �!f references to doifar amounts shall mean amaunts in lawful money
<br /> of the llnited Stat�s vf America. Words and terms used in the singular shall include the plural, and the plural shall
<br /> inctude the singu�ar, as #he context may require. Wards and terms not otherwise defined in this Desd of Trust shall
<br /> ha�e the meanings attributed ta such tsrms in the Uniform Commercial Cade: ...
<br /> Baneficiary. The word "Benefi�iary" meens Exchange Bank, and its successors and assiyns.
<br /> Borrower. The word "Barrower" means TIM C PLATE and CURT L RATLIFF and �nc�udes a!� cv-signers and
<br /> co-makers signing the Note and all their succ�ssors and assigns.
<br /> Deed vf Tru�t. The words "Deed of Trust" mean this Deed of Trust among Trustvr, Lsnder, and Trustee, and
<br /> inciud�s without limitatian all assignment and security interest-pr��isions relating to the Personal Property and
<br /> Rents.
<br /> Defaul#. The wvrd "Default" means the Defauft set forth�n this Deed af Trust'rn the section titled "�efault".
<br /> En�ironmantel Laws. The words "En�ironmental Laws" mean an and all state, federal and local statutes,
<br /> �a.�� wn � ,r:.
<br /> regulatians and ordinances relat�ng tv the protection of hu Y: ,h�� ,. :�r'"�"�`��"` �r�t��'n'ent, in uding without
<br /> _ �.� ,�, �
<br /> limitation the Comprehensi�e En�ir�anmental Response. Cvmp. sa ��, il `�[ci��` 19�, as amended, 42
<br /> � � �= -_�.-�� ►.,�
<br /> � i n A f 198 P b. L.
<br /> U.S.C. 5ection 96�1, et ssq. � CERCLA ), the Superfiund Am r�.d,�nt� �[r1d � _.� bt�t a �t o 6� u
<br /> No. 99-499 t"SAR�1"�,the Hez�rdaus Materials Transportatio � '�..4���.L���.:�'������`8�''I et seq.,the Resource
<br /> ,........�.,,...... .....,,,.. .
<br /> Canser�atian and Recv�ery Act, 42 U.S.C. 5ection 83�1, �t seq., or other applicable state vr faderal laws, rules,
<br /> or regulations adapted pursuant thereto.
<br /> E�ent of Dafautt. The wvrds "E�ent of Default" mean any of the e�ents vf default set forth in this Deed of Trust in
<br /> the e�snts of default section o#this Deed�f Trust.
<br /> Gu���nty. Th� r►vord "Guaranty" means the gua�anty from guarantar, endorser, surety, ❑r a�commvdation party to
<br /> Lender, including withaut limitation a gu�r�nty v#all or pa�t of the Note.
<br /> H�zardous Substan�es. The wards "Hazardvus 5ubstances" mean ma�erials that. because o# their quantity,
<br /> concentration ar physical, chemicaf ar infe�tious charact�ristics, may cause ar pvse a present vr potential h�z�rd
<br /> to human health or the en�irvnment when improperly used, treated. stvred, disposed of, generated� manu�actured,
<br /> transported or vtherwise handled. The words "Hazardous 5ubstances" are used in their�ery hroadest sense and
<br /> include wi�hout limit�tion any and all hazardous or toxic substances, materials or waste es defined by or listed
<br /> under the En�iranmental L�ws. The term "Hazardous Suhstances" also includes, without limitation, petroleum and
<br /> pstroleum by-produ�ts or any fractian thereof and asbestos.
<br /> Irr�pro�ements. The ward "lmpr��ements" means all exist'rng and future impro�ements, buildings, structures,
<br /> mobile homes affixed on the �teal Property, facilities, additi�ns, rep�acements and ❑ther �onstructian on the Real
<br /> Prvperty.
<br /> Indebtedness. The word "lndebtedness" means al! principal, interest, and other amounts, costs and expenses
<br /> payak�le under the Note or Related Dacuments, together with a!I �en�wals of, extensions of, mvdifications of,
<br /> consolidati�ns of and substitutivns fflr the Note or Related Documents and any�mounts expended or ad�anced by
<br /> Lender to discharge Trustor's obligativns or �xpenses incurred hy Trustee vr Lender t� enfor�e Trustor's
<br /> ❑bligativns under th�s Deed of Trust, together wi#h interest on such amounts as pra�ided in this Deed vf Trust.
<br /> Specifica��y, withaut limitetion, Indebtedness includes the fu�ure ad�ances set �orth in the Future Ad�ances
<br /> prv�ision, tage#her with all interest therevn and ail amvunts that may be indirect�y secured by the
<br /> Cross-�oliateralization pro�ision ot this�eed�f Trust.
<br /> Lender. The word "Lender" means Exchange Bank, �ts successors and assigns.
<br /> Note. The word "Note" mQans the promissory note da�ed August 23, 2��fi, In the original principai
<br /> amaunt of $234.���.�� from Trustor to Lender. tagether with ai! renewals vf, extensi�ns o�� modifications
<br /> of, refinancings of, consalida�ions o�, and substitutivns fof the promissory note or agre�ment. NOTfCE TD
<br /> TRUST�R: THE N�TE C�NTA�NS A VARIABLE INTE#iEST RATE.
<br /> Person�f Propsrty. The words "Personal Property" mean ail equipment, fixtures, and other artic�es of personal
<br /> property now or hereafter ❑wned by Trustar, and now or he�eartt�r attached vr affixed to the Real Property;
<br /> toge#her with all accessions, �aarts, and additions tv, ail rep�acements af. and a!f substitutivns for, any vf such
<br /> praperty; and togethe� with ail proceeds �including without iimitation all insurance proceeds and refunds of
<br /> premiumsj from any sale or other dispasitian❑f the Property.
<br /> Property. The wvrd "P�operty" means�ollec#i�ely the Real P�operty and the Personal Property.
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