|
2� 1 ��5777
<br /> DEED �]F TRUST
<br /> ��ontinu�d� Pa�e 7
<br /> caurts�f Ha�l Caunty, 5tate o�Nebraska.
<br /> No Vllai�er by Lender. Lender shall not be deemed t❑ ha�e wai�ed any rights und�r this De�d ❑f Trust unless such
<br /> wai�er is gi�en in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right
<br /> shall operat� as a wai�er of such r�ght ar any other right. A wai�er by Lender vf a prv�ision of this Deed of Trust
<br /> shall not prejudice or constitute a wai�er ❑f Lender's right otherwise t❑ demand stri�t �ompliance with that
<br /> pr��ision ar any other pro�ision of this Deed of Trust. No prior wai�er by Lender, na� any course af dealing
<br /> h�tween Lender and Trustvr, sha�l constitute a wai�er of any of Lend�r's rights or af any ❑f Trustar`s obligations
<br /> as to any future transacti�ns. Whene�er the consen# of Lender is required under this D�ed of Trust, the granting
<br /> ❑f su�h cons�nt t�y Lender in any instance shall not �onstitute c�ntinuing consent #❑ subsequent instances where
<br /> such cansent is �equired and in all cases such cansent may be granted or withheld in the so��discretivn of Lender.
<br /> Se�erability. If a caurt of competen# jurisdiction finds any pra�ision of this Deed ❑f Trust to be illegal, in�alid, or
<br /> unenfvrceable as t� any circumstance, that finding shalf nvt make the vffending pro�ision illegal, in�alid, ❑r
<br /> unenforceable as to any other �i�cumstance. if feasible, the offend�ng pro�ision shall be considered modi#ied so
<br /> that it becomes legal, �alid and enfvrceable. If the affending prv�isi�n cannot be so modified, it shall be
<br /> consid�red deleted from this De�d of Trust. llnless vtherwise requtr�d !�y law, the illegality, in�alidity, ❑r
<br /> unenfiarceability of any pro�ision of this ❑eed of Trust shall not affect the lega�ity, �a�idity vr enf�rceability af any
<br /> other pro�ision of this ❑eed vf Trust.
<br /> Su��essors and Assigns. Subjsct to any �imitations stated in this Deed o� Trust on trans�er of Trustar's interest,
<br /> this Deed ❑f Trust shall b� binding upan and inure t❑ the benefi# af the parties, their successors and assigns. If
<br /> ownership �f the Property be�omes �ested in a persan other than Trustor, L�nder, withaut notice to Trustor, may
<br /> deal with Trustor's su�cessvrs with r�ference to this ❑eed of Trust and the Indebt�dness by way of far�earance or
<br /> extension without re�easing Trustor from the❑bfigations of this Deed af Trust or liability under the Indebtedness.
<br /> Time is of the Essence. Time is ❑f the essence in the performance ❑f th#s Deed ❑f Trus�.
<br /> Wai�e Jury. All parties t❑this Deed of Trust hereby wai�e the right tv any jury trial in any a�tivn, proceeding, or
<br /> counter�laim brvught hy any party against any vther party.
<br /> Wai�er v# Hamestead Exemption. Trustar h�reby r�leases and wai�es all rights and benefits of the hamestead
<br /> exemptian �aws of the 5tate of Nebraska as ta all Indebtedness se�ured by this Deed af Trust.
<br /> DEFINITfC]N5. The following �apitalized words and terms shall ha�e th� fo�lowing meanings when used in this Deed of
<br /> Trust. Unless sp�cifi�ally stated to the �ontrary, all ref�ren�es to dallar amaunts shall m�an amounts in lawful money
<br /> of the United States of America. Wvrds and terms used in the singular shail include the plural, and the plural shall
<br /> in�lude #he singular, as the �antext may require. Wards and t�rms nvt otherwise de�fned in this Deed af Trust shal�
<br /> ha�e the meanings attributed to such terms in the Llniform �ommercial Cvde:
<br /> 6eneficiary. The word "Beneficiary" means Exchange Bank, and its successors and assigns.
<br /> Borrower. The word "Borrower" means Trafalgar In�estments, L.L.G, and includ�s alE co-signers and co-makers
<br /> signing the Nvte and all their successors and assigns.
<br /> De�d of Trust. The words "Deed ot Trust" mean this Deed af Trus� among Trustor, Lender, and Trustee, and
<br /> includ�s without limitatian all assignment and securi#y interest pra�isians relating to the Pers�nal Property and
<br /> Rents.
<br /> Default. The wvrd "Default" means th� ❑efault set fvrth in this ❑eed of Trust in the sectian titled "Default".
<br /> En�ironmental Laws. The words "En�ironmental Laws" mean any and al� state, #ederal and lo�al statutes,
<br /> regulations and ordinances relating to the protection o# human health or the en�ironment, including withaut
<br /> limitation the Comprehensi�e En�ironmental Response, Cvmpensation, and Liability Ac� of 13Sfl, as amended, 42
<br /> U.S.�. Sectivn �601, et seq. �"CERCLA"y, the 5uperfund Amendments and ReauthorizatEvn Act of 198fi, Pub. L.
<br /> No. 99-499 �"SARA"f, the Hazardous Materials Transportation Act, 49 U.S.C. Section "�8D 1, et seq., the Resaur�e
<br /> Conser�ation and Reco�ery Act, 42 U.S.C. 5ect�on fi9�1, et seq., ❑r v#h�r applicable state ❑r federal laws, rules,
<br /> or regulati�ns adopt�d pursuant thereto.
<br /> Event of Default. The words "E�ent af ❑efault" mean any vf the e�ents vf default set forth in this Deed vf Trust in
<br /> the e�ents❑f default section of this ❑eed vf Trust.
<br /> Guaran#vr. The word "Guarantar" means any guarantor, surety, ar accommodatian party of any or all of the
<br /> I nde bted ness.
<br /> Guaranty. The word "Guaranty" means the guaranty fram Guarantvr to Lender, including without limitation a
<br /> guaranty af all or part of th� Note.
<br /> Hazardous Substan�es. Th� words "Hazardous Substanc�s" mean materials that, because af their quantity,
<br /> concentration vr physi�al, chemi�al or �nfectious characteristics, may cause or pose a present �r patential hazard
<br /> t❑ human h�alth or the en�ironment when improper�y used, treated, stored, disposed of, generated, manufactured,
<br /> transpvrted or otherwis� handled. The words "Hazardvus 5ubstances" are used in their �ery �raadest s�nse and
<br /> include withaut limitat+on any and all hazardous ar tvxic suk�stan�es, materials ❑r waste as de#ined by ❑r listed
<br /> under the En�ironmenta� Laws. The term "Hazardous Substances" also in�ludes, withaut limitation, petraleum and
<br /> petroleum by-pradu�ts or any fraction thereof and asbestos.
<br /> Impro�emen#s. The ward "Impro�ements" means all existing and future impro�ements, buildings, struGtures,
<br /> mahile homes affixed on the Rea! Praperty, #acilities, additions, replaGements and ❑ther cvnstruction on the Real
<br /> Prvperty.
<br /> Indeh#edness. The ward "indebtedness" means all principal, interest, and vther amounts, casts and expenses
<br /> payable under the Nvte or Relat�d Dacuments, together with all renewals af, extensians af, modifica�ivns of,
<br /> consolidations of and substitutions for the Note ❑r Related Dacuments and any amvunts expended or ad�anced by
<br /> Lend�r to discharge Trustar's obligations or expenses in�urred �y Trustee or Lender to enforc� Trustor's
<br /> obligations under this Deed af Trust, togeth�r with interest on su�h amounts as pro�ided in this Deed of Trust.
<br /> Specificaily, withvut limitatian, indebtedness includes the future ad�ances set forth in the Future Ad�ances
<br /> pra�ision, tog�ther with all interest thereon and afl amounts that may be indirectly se�ured by the
<br /> Crass-C�ilat�ralization pro�ision of this Deed of Trust.
<br /> Lender. The word "L�nder" means Exchange Bank, its successors and assigns.
<br /> Nvte. The word "Note" means the promissory note dated September �, 2�1�, 111 the vriginal principal
<br /> amvunt of �2'I D.���.�� fr�m Trustvr tv Lender, tagether wfth all renewals of, extensians of, modifications
<br /> ❑f, r�financings of, cvnsolidativns of, and substitutions for the promissvey note�r agreement,
<br /> Personal Prop�r#y. The words "Persanal Property" mean all equipment, fixtures, and other artic�es af persona!
<br /> property now or hereafter owned by Trustor, and n�w or hereafter attached or affixed t❑ the Real Property;
<br /> together with afl accessivns, parts, and additions to, all replacements ❑f, and all substitutions for, any of such
<br /> property; and t�g�ther with all proceeds �in�luding without limitatian all insuran�e prac�eds and refunds of
<br /> premiumsy from any sale or other dispvsition of the Property.
<br /> Praperty. The word "Property" means collecti�ely th� Real Property and th� Personal Property.
<br />
|