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<br /> DEED �F TRUST
<br /> Lvan Nv: '1��3��83� �Continued} Page 9
<br /> No 1Nai�er by Lender. Lender sha�� nat be deemed to ha�e wai�ed any righ�s under this Deed of Trust unless such
<br /> wai�er is gi�en �n wri�ing and signed by Lender. N❑ delay❑r omiss�on on�he par�of Lender in exercising any righfi
<br /> shall vpera�e as a wai�er❑�such rtght❑r any ather right. A waiWer by Lender a# a pro�ision o�this Deed af Trus�
<br /> shall nvfi prejudice or cons�i�u�� a waiver o� Lender's right atherwise to demand s�rict compliance wi�h �hat
<br /> pro�ision or any other pro�ision o� �his ❑eed o� Trus�. Na priar waiver by Lender, nor any course ❑f dea�ing
<br /> between Lende� and Trustor, shall cons�i�ute a wai�er of any o�F Lender's rights ar ❑-F any of Trusfior's ob�igat�ons
<br /> as to any futu�e �ransa�tions. Whene�er the cansen� of Lender is required unde�this Deed o�Trusfi, �he grantin�
<br /> o�such consen� by Lender in any ins�ance shall nvt constitu�e con�inuing cansent�o subsequ�nt instances where
<br /> such consent is required and in all cases such c�nsent may be granted ar withheld in the svle discretion of Lender.
<br /> Severa�ility, �f a cvur� a� competen�jurisdic�ian finds any prv�ision ❑f this Deed vf Trust�o be illegal, in�alid, or
<br /> unen�o�-ceable as �❑ any persan ❑r circums�an�e, that finding shall not make �he �ffending pra�isian �lfegaE, �n�alid,
<br /> ❑r unen�orceable as to any vfiher pers�n ❑r c�rcums�an�e. If feasilale, the ❑��ending provisivn sha�l be ��nsidered
<br /> modi�ied so that it becomes legal, �alid and en-��rceable. �f the ❑ffending pro��sian �annat be so madified, it shall
<br /> be cans�dered deleted from �his ❑eed vfi Trust. Unless otherwise requf��d by law, the illegality, €n�alidity, or
<br /> unenfarceabili�y ❑f any pro�ision o�this Deed o#Trusfi sha11 not affect the legality, validity o� enforceabi[ity ❑� any
<br /> ❑ther prv�ision of this ❑��d of Trust.
<br /> Successors and Assigns. 5ubje�t to any limitations sta�ed in �his Deed ❑�F Trust vn transf�r o�Trustor's infieresfi,
<br /> �his ❑eed of Trust shall 1ae hinding upan and inure to the benefifi ❑f the parties, �kheir successvrs and assigns. If
<br /> awnership of the Property be�omes �es�ed in a persan athe�-than Trus�or, Lender, withaut notice�k❑ Trustor, may
<br /> deal with Trus�or's su�cessors wi�h reference to this ❑eed ❑f Trus�and�he Indebtedness by way of�Farbearance or
<br /> ex�ension withou�re�easing Trus�or��-om the abligations ❑f this Deed o�Trust❑r liability und�r the lnde��edness.
<br /> Time is o��he Essence. Time is a�the essence�n the perfvrmanc�flf th�s Deed o�Trust.
<br /> 1Nai�er o� Homestead Exemp�ian. Trus�ar hereby reieases and wai�es a�1 righ�ks and benefiits of �he homestead
<br /> exemption laws ❑f�he S�a�e❑f Nebraska as to af� lndei�tedness secured by this ❑eed��Trust.
<br /> DEFINIT[DNS. Th�fallowing cap�ta�ized words and terms shall ha�e the following meanings when used in this ❑eed af
<br /> Trust. Unless spe�ifica�ly sta�ed �o�he contrary, a�) re�erences t� dollar amaun�s shall mean amoun�s in lawful maney
<br /> vf the Unified States of Ame�ica. Words and terms used in �he singular sha�i in�lude the plural, and �he plural shafl
<br /> include �he singu�ar, as the context may require. V1lords and terms na� otherwise d��ined in this Deed of Trust shall
<br /> ha�e the meanin�s attributed�o such�erms in the lJniform Commer�ial Code:
<br /> Bene�i�iary. The word "Beneficiary" means Fi�e Paints Bank, and its suc�essors and assigns.
<br /> gorrvv+rer. The word "Borrower" means GRAND 1SLAND AUTDM�TIVE 1NC d�a GRAN❑ (SLAN❑ KART &CYCLE,
<br /> M�CHAEL A KRAFT and LDRI G KRAFT and includes a�E co-signers and �o--makers signing the Nate and all their
<br /> successors and assigns. r�
<br /> Deed of Trust. The words "Deed of Trusfi" mean �his ❑eed ofi Trus� among Trustar, Lender, and Trustee, and
<br /> includes wi�haut limita�ivn all assignment and securi�y interest pro�isions rela�ing to th� Persvna! Prvperty and
<br /> R e n�s.
<br /> T�e�au�t. The word "�efaul�" means�he Defaul�set forth in�his Deed of Trust in the sect�ion�tifiled "De�ault".
<br /> Environmen�al Laws. The w�rds "En�ironmental Laws" mean any and all state, federal and local s�a�u�es,
<br /> regula�i�ns and ordinances retating to fihe pra�ec�ion af human health or the en�iranment, including withvut
<br /> limitation fihe Comprehensi�e En�ironmental Respvnse, Campensation, and LiabiEity Act vf 'i 98�, as amended, 4Z
<br /> U.S.C. Section �6��, et seq. {"CERCLA"}, the Superfund Amendments and Reauthoriza�ion Act of �98�, Pub. L.
<br /> N�. 99--493 4"SARA"},the Hazardous Materia�s Transpo�tati�n Act, 49 IJ.S.C. Section �8��, et seq.,the Resource
<br /> Conser�ation and Recv�ery Act, 42 U.S.C. Se��ion 69��, e�seq., or vther appliGable s�ate or federai laws, rules,
<br /> or regulativns adopted pursuant there�a.
<br /> Event o�Default. The words "E�ent a�aefaul�" mean any�f the e�ents o�defaul�set farth in this aeed of Trust in
<br /> �he e�ents o�f de�ault sectian o#this ❑eed af Trust.
<br /> Guaranty. The word "Guaran�y" means the guaranty�rom guarantvr, endarser, surety, ❑r accommodatian party�o
<br /> Lender, including without limitation a guaranty o�a�l or par�o�the Note.
<br /> Hazardous Suhs�ances. The words "Hazardous 5ubs�kances" mean materials that, because o� the�r quan�kity,
<br /> concentrafiivn ar physEcal, chemEcal or in�fectivus cha�acteris�ics, may cause ❑r pose a presenfi ❑r potentia! hazard
<br /> to human health or�he en�irvnmen�when impraperly used, treated, s�vred, disposed of, generated, manufactured,
<br /> transported ❑r othe�wise hand�ed. The wards "Hazardvus Subs�ances" are used in their �ery broades� sense and
<br /> �nc�ude wi�haut iimitation any and all hazardvus or �oxic substances, ma�ter�a�s ❑r was�e as de�Fned by or lis�ed
<br /> under the En�ironmental Laws. The term "Hazardous Sulasfiances" also includes, wi�hout lim�tation, p�firof�um and
<br /> petroleum by-produ�#s or any�r-actian therevf and asbestas.
<br /> [mprvvements. The word "Impro�ements" means all ex�stEng and fu�ure imprv�ements, buildings, structures,
<br /> mvbile homes af�fixed ❑n the Rea[ Property, faciiities, additi�ns, repla�emen�s and other construction an the Real
<br /> Proper�y.
<br /> Indebtedness. The ward "lndeb�edness" means a[l principal, interes�, and o�her amounts, cvsts and expenses
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