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2� 1 ��7277
<br /> DEE[3 �F TRUST
<br /> Loan N�; 'I�1�397�F �C�nt�n ued� Page 9
<br /> pre�ious fiscal year in such farm and detail as Lender shall require. "Ne� nperating income" shall mean all �ash
<br /> receipts frvm the Property less all cash expenditures made in cnnnection with the ❑p�rativn of the Praperty.
<br /> Cap�ion Headings. Caption headings in this ❑eed ❑f Trust are for con�enience purpvses ❑n#y and are not t❑ be
<br /> used to interpret or define the pro�isions of th�s Deed of Trust.
<br /> Merger. There shall be no merger of the interest ar estate created by �his Deed vf Trust with any�the� interest or
<br /> estate in th� Property at any time hefd by or for the benefit of Lender in any �apacity, without the written consent
<br /> a� Lender.
<br /> Gv►►erning Law. This D�ed of Trust will be gv�erned by federal law applicable tv Lender and, to the extent not
<br /> preempt�d by federal law, the �aws of the State of Nebraska without regard ta �ts conflicts of law pro�isions. This
<br /> Deed of Trust has heen ac�epted by Lender En the State o�Nehraska.
<br /> Chvi�e of Venue. �f there is a lawsuit, Trustor agrees upon Lender's request t❑ subm�t to the jurisdiction �f the
<br /> courts of Hall County, S�ate of Nebraska.
<br /> Jvint and Se�eral Liahility. All a�ligations af Barrawer and Trust�r und�r this Deed af Trust shall be jaint and
<br /> se�eral, and a�l references ta Trustor shall mean each and e�ery Trustor, and all references tv E3orrower shal! mean
<br /> ea�h and e�ery 6orrower. This means that each Trustor signing below is responsibfe fvr all obligations in this Deed
<br /> of Trust. Where any ❑ne or more af the parties is a corporation, partnership, limited liability company or similar
<br /> entity, it is not necessary for Lender ta inquire into the powers vf any o#the officers, directors, partners, members,
<br /> or other agents acting or purpvrting t❑ act on the entity's behaf�, and any obligations made ❑r created in reliance
<br /> upon the professed exercise of such powers shall be guaranteed under this ❑eed o#Trust.
<br /> No VIJa��er by Lender. Lender shal! not be deemed to ha�e wai�ed any rights under this Deed �f Trust unf�ss such
<br /> wai�er is gi�en �n writing and signed by Lender. No delay❑r amission ❑n the part of Lender in exercising any right
<br /> shall operate as a wai�er af such right ar any other right. A wai�er by Lender vf a pro�isivn of this Deed ❑f Trust
<br /> shal! not pre�udice vr consti�ute a wai��r of Lender's right vtherwise to demand strict cvmplian�e with that
<br /> pra�ision or any other pra�ision of this Deed a� Trust. No prior wai�er by Lender, nor any course of dea�ing
<br /> between Lender and Trustar, shall Ganstitute a wai�er of any of Lender's rights or of any flf Trusto�'s ❑bligatians
<br /> as to any tuture transactions, Whene�er the cvnsent af Lender is required under this Deed ❑f Trust, the granting
<br /> ❑f such cvnsent by Lender in any instance shall not canstitute continuing consent �❑ subsequent instances where
<br /> such consent is required and in all cases such cansent may be granted ar withheld in the s�l� discretion af Lender.
<br /> Se�erability. Ef a court of competent jurisdictivn finds any pro�ision af this Deed af Trust to be illegal, in�alid, ❑r
<br /> unenforeeabie as ta any cir�umstance, that �inding shall nat make the affending pro�ision illegal, in�alid, or
<br /> unenfor�eable as to any other circumstance. If feasible, the offending pra�is�an shall be considered madified sfl
<br /> that it becames legal, �alid and enfarceahle. �f the offending pro�ision canno� be sn madified, it shail be
<br /> considered deleted from this Deed of Trust. Unless c�therwise required by law, the illegality, in�alidity, or
<br /> unenforceabifity of any pro��si�n ofi this Deed of Trust shall not affect the �egality, �alidity or enfarceabiiity at any
<br /> oth�r pro�ision of this Deed ❑f Trust.
<br /> Successors and Assigns. 5ubject to any limitations stated in this ❑eed of Trust on transfe� of Trustor's interest,
<br /> this ❑eed ❑f Trust shall �e binding upon and inure to the benefit nf the parti�s, their successors and assigns. If
<br /> flwnership of the Property hecomes �ested in a person ather than Trustor, Lender, without notice t❑ Trustvr, may
<br /> deal with Trustar's su�cessors with reference to this Deed vf Trust and the Indebtedness by way af fvrbearance or
<br /> extension without releasing Trustor from the abligations of this Deed of Trust vr liability under the lndebtedness.
<br /> Time is ❑f th� Essence. Time is of the essence in the perfvrman�e❑f this Deed of Trust.
<br /> Wai�er vf Homestead Exemption. Trustvr hereby releases and wai�es all rights and benefits of th� hvmestead
<br /> exemption laws vf the 5tate ❑f Nebraska as to all Indebtedness secured hy this Deed ❑f Trust.
<br /> DEFINITIDNS. The following capitalized words and terms shall ha�e the fol�awing meanings when used in this Deed ❑f
<br /> Trust. Unless specifically stated to the contrary, all referen�es to do�lar amounts shall mean amounts in lawful money
<br /> ❑f the United States of America. Wards and terms used in the singular shall include the piural, and the plural shall
<br /> include the singular, as the cantext may requ�re. Vll�rds and terms not otherwise definsd in this Deed of Trust shall
<br /> ha�e the meanings attributed to such terms in the Uniform Commercia! Cvde:
<br /> Beneficiary. The wnrd "Beneficiary" means Fi�e Points Bank, and its successvrs and assigns.
<br /> Borrvwer. The word "Bnrrower" means DENN15 SRIJNS GaNSTRUCTI�N LLC and DENN�S W BRUNS and
<br /> �n�ludes all �o-signers and ca-makers signing the Note and all their successors and assigns.
<br /> Deed of Trust. The words "Deed vf Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and
<br /> includes withaut limitat�on all assignment and secur€ty interest pra�isions relating tv the Persanal Praperty and
<br /> Rents.
<br /> D�faul#. The word "Defauit" means the Default set forth in this ❑�ed of Trust in the sectian titled "Default".
<br /> En�irvnmental Laws. The wards "En�iranmental Laws" mean any and all state, fed�ra! and �acal statutes,
<br /> regulations and ord�nances relating to the prvtection of human health ❑r the en�ironment, including withaut
<br /> limitation the Comprehensi�e En�iranmental Respanse, Compensation, and Liability A�t of �98�, as amended, 42
<br /> U.S.C. 5ection 96�'!, et seq. �"CERCLA"�, the Superfund Amendments and Reauth�riza�ion Act af 1985, Pub. L.
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