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<br /> Laan No: ���3D�827 �Cont�nued} Page 9
<br /> Nv 1Nai�er by Lender. Lender sha11 na� be deemed ta ha�e wa��ed any righfis under this Deed o�f Trus�unless such
<br /> wai�er is gt�en in writing and signed by Lender. No delay❑r amissian on the part of Lender in exercising any right
<br /> shall vperate as a wai�er❑f such righ�t❑r any other right. A wai�er by Lender❑�f a praWision of this Deed ❑f Trus�
<br /> sha�� not prejudice or constitu�e a wai�er o� Lender's r�gh� ❑�th�rwise t❑ demand stric�t �ompliance with tha�
<br /> pro�isian ❑r any o�her pro�ision o� this �eed o� Trus�. No prior waiv�r by Lender, nar any course ❑f deaiing
<br /> I�etween Lende�- and Trustar, shall consti�u�e a wai�er of any ❑f Lender's rights a� of any ❑�Trustor's ❑laligations
<br /> as �v any future t�ansac�ions. Whene�er�the consent o� Lender is required under this aeed ❑f Trusfi, �he granting
<br /> v� su�h Gonsent by Lender in any instance shall not cvns�i�u�e cont�nuing cvnsent�o subsequent instances where
<br /> such consen�is r�quired and in all cases such �onsent may be granted�r withheld in the sole discre�ion ❑�Lender.
<br /> �everab�lity. lf a �ourt vf c�mpetent jurisdic�ion �inds any pro�ision n��his Deed vf Trust�o be �Flegal, in�alid, ar
<br /> unentarceable as t❑ any person or circumstance, fihat finding shall not make�he affending pro�isian illegal, in�a�3d,
<br /> or unenforceable as ta any v�her person o� circumstanc�. I��easible, the o��ending prv�isian shal� be considered
<br /> modi�ied s❑ �hafi it becomes �egaf, �alid and en�or-ceable. If th� ❑ffending pro�ision �annot be so modified, it shall
<br /> be considered deleted from this Deed vf Trust. Unless otherwise required by law, �he il�egali�y, in�alidity, ❑r
<br /> unen�forceab��ity of any prv�isivn o�this aeed o�Trusfi shall no�t a�fec��he legali�y, validity or enforceabili�y of any
<br /> a�her pra��s;an❑t this ❑eed ❑f Trust.
<br /> 5uccessors and Assigns. 5ubjec�ta any limitations stated in this I�eed ❑f Trust on �ransfer ❑�Trustar's in�teresfi,
<br /> �his Deed vt Trust sha�! be binding upon and inure to the bene�i� of the pa�ties, their successors and assigns. lf
<br /> ownership o��he Prvperty laecames vested in a person ather than Trus�or, Lender, withaut nv�ice tfl Trusto�-, may '
<br /> deal wifih Trustor's su�cessors wi�h reference to this Deed vf Trus�and the Indelatedness by way❑f forbearance ar
<br /> ex�ension wsthvut releasing Trustvr�rom the obiigat€ons ❑f this �eed v�Trust❑r�iabili�ky under the lndel�fiedness.
<br /> Time is vf the Ess�nce. Time is o�the essence in the performance o�this I�eed ❑f Trust.
<br /> Wai�er of Hom�stead Exemp�ion. Trus�ar herehy releases and wai�es a[E �ights and benefi�s a� the homes�ead
<br /> exemptian �aws ❑�F fihe State o�Neh�-aska as to all lndebfiedness secured by�his Deed o�r Trust.
<br /> DEFiNlT1�N5. The fvllowing capitali�ed words and terms shal� ha�e�he follvwing meanings when used En�his Deed ��
<br /> Trusfi. [Jnless specifically stated to the contrary, a([ re�erences to dol[ar amounts shall mean amounfis in lawful money
<br /> vf �he United 5ta�es of Ameri�a. VVvrds and terms used in fihe sEngular shall include the plural, and �he plural shall
<br /> include �he singular, as �he contex� may requtre. Vllvrds and �erms not o�herwise defined in �his Deed vf Trus� sha�l
<br /> have�he meanings a�tribu�ed tv such terms in th� L]niform Commercial Cade:
<br /> Beneficiary. The word "6eneficiary" means Fi�e Points Bank, and its success�rs and assigns.
<br /> Barrawer. The word "Barrawer" means GRAND 1SLAN�AUT�MOTIVE 1NC dba GRAND ISLAND KART& CYCLE,
<br /> MICHAEL A KRAFT and L�RI � KRAFT and includes all co--signers and co-makers signing �he Note and all �heEr
<br /> successors and assigns.
<br /> Deed o� Trus�. The words "Deed of Trust" mean this ❑eed of T�ust among Trustor, Lender, and Trus�ee, and
<br /> includes v+�ithvut limita�ion all ass�gnment and security in�erest pro�isions relating �o the Persanal Proper�ty and
<br /> Rents. . ,
<br /> ❑e�auit. The wvrd "Default" means�he Defaulfi se�fvrth in�his•D�ed of Trust in the'sectian titled "�efault".
<br /> . - . . .
<br /> En�ironmenta[ Laws. The w�rds "Environmental Laws" mean any and all state, ��deral and local statutes,
<br /> regulations and ordinances relating �k❑ the p�-vtection of human health ar the en�irvnment, including wi�hout
<br /> limifiatian �he Comprehensive En�irvnmental Response, Compensation, and Liabi�ity Act v� �98D, as amended, 42
<br /> U.S.C. Sec�ion 9�4'�, e�t s��. �"CERCLA"}, the 5uperfund Amendments and Reautha�-ization Act�� '�986, Pu�. L.
<br /> No. 99-499 �"SARA"}, the Hazardvus Materials Transpartatian Act, 49 V.S.C. SeG�ion '18�1, et seq.,the Resvurce
<br /> Conser�ation and Recovery Ac�, 4� U.S.C. Sec�ion 69�1, et seq., ❑r other app�icable state or federai laws, ru�es,
<br /> or regulations adop�ed pursuant there�o.
<br /> E�ent of De�Fauit. The words "E�ent��Defaul�" mean any❑f the e�ents af default se��forth in this Deed of Trus�in
<br /> �he e�ents o�de�Fault sect�on❑f�his �3eed ❑f Trusfi.
<br /> Guaranty. The word "Guaranty" means�he guaranty frvm guaran�or, endo�ser, surety, ar accommvdat�an party ta
<br /> Lender, inciuding wi�hout limitation a guaranty of all a�-part of the Note.
<br /> Hazardvus �ubstances. The words "Hazardvus 5ulastances" mean materia�s �ha�, because of their quanfiity,
<br /> con�entration �r physEcal, chemical or infe��ious charac�eristi�s, may cause ❑r pvse a presen� or patentia� hazard
<br /> tv human heal�th or the en���-�nment when imprvperly used, treated, stored, disposed o�f, generated, manufia��u�-ed,
<br /> transparted ❑r vfiherwise hand�ed. Th� words "Hazardous Subs�ances" a�e used in �heir �e�y br�adest sense and
<br /> include without EEmita�ion any and al� hazard�us ar �oxic substances, materials ❑r waste as defined by or fis�ed .
<br /> under�he Environmenta! Laws. The t�rm "Hazardous Substan�es" also includes, wifihout limi�a�ion, pe�ra��um and
<br /> petroleum by-produc�ts or any fract�an thereof and asbestos.
<br /> lmprv�rements. The word "EmprvWements" means all existEng and future improvements, buildings, structures,
<br /> mobile homes a�ff�xed vn �he Real Proper�y, facili�ies, additivns, replacements and other cons�rucfiion �n the Reai
<br /> Pr�per�y.
<br /> Indebtedness. The wo�-d "�ndel�tedness" means all principaE, in'�erest, and other amoun�s, costs and expenses
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