|
DEED OF TRUST
<br />(Continued) Page 7
<br />of Lender.
<br />Governing Law. This Deed of Trust will be governed by federal law applicable to Lander and, to the extent not
<br />preempted by federal law. the laws of the State of Nebraska without regard to its conflicts of law provisions. This
<br />Deed of Trust has been accepted by Lender in the State of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the
<br />courts of Buffalo County, State of Nebraska.
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such
<br />waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right .
<br />shall operate as a waiver of such right or any other right A waiver by Lender of a provision of this Deed of Trust
<br />shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that
<br />provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing
<br />between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Truster's obligations
<br />as to any future transactions: Whenever the consent of Lender is required under this Deed of Trust, the granting
<br />of such consent by Lender In any instance shall not constitute continuing consent to subsequent instances where
<br />such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender,
<br />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or
<br />unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or
<br />unenforceable as to any other circumstance If feasible, the offending provision shall be considered modified so
<br />that. It becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be
<br />considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or
<br />unenforceabiltty of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any
<br />other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor interest,
<br />this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If
<br />ownership of the Property becomes vested in a person other than Trustor, Lender, without notice to Trustor, may
<br />deal with Trusters successors with reference to this Deed of Trust and. the Indebtedness by way of forbearance or
<br />extension without releasing Trustor from the obligations of this Deed of Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed. of Trust.
<br />Waive Jury: All parties to this Deed of Trust hereby waive the right to any jury tried in any action. precasting, or
<br />counterclaim brought by any party against any other party.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead
<br />exemption laws of the State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following capftelized words and terms shall have the following meanings when used in this Deed of
<br />Trust. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money
<br />of the United States of America. Words and terms used In the singular shall include the plural, and the plural shall
<br />include the singular, as the context may require. Words and terms not otherwise defined in this Deed of Trust shall
<br />have the meanings attributed to such terms in the Uniform Commercial Coda:
<br />Beneficiary. The word "Beneficiary" means Exchange Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means GRAND ISLAND. PROPERTIES, LLC and includes: all co- signers and
<br />co- makers signing the Note and all their successors and assigns.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor. Lender, and Trustee; and
<br />includes without limitation all assignment and security interest provisions relating to the Personal Property and
<br />Rents.
<br />Default The word "Default" means the Default set forth in this Deed of Trust in the section titled "Default ".
<br />Environmental Laws. The words °Environmental Laws" mean any and all state, federal and local statutes,
<br />regulations and ordinances relating to the protection of human health or the environment, including without
<br />limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42
<br />U.S.C. Section 9601, et seq. ( "CERCLA "), the Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br />No 99 -499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource
<br />Conservation and Recovery Act 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules,
<br />or regulations adopted pursuant thereto.
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in
<br />the events of default section of this Deed of Trust.
<br />Guarantor. The word 'Guarantor" means any guarantor, surety, or accommodation party of any or all of the
<br />Indebtedness:
<br />Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a
<br />guaranty of all or part of the Note.
<br />Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity,
<br />concentration . for physical, chemical or Infectious characteristics, may cause or pose a present or potential hazard
<br />to human health or the environment when improperly used treated, stored, disposed of generated, manufactured,
<br />transported or otherwise handled. The words 'Hazardous Substances' are used in their very broadest sense and
<br />include without limitation any and all hazardous or toxic substances, materials or waste as defined by or Listed
<br />under the Environmental Laws. The term "Hazardous Substances" also includes, wthout limitation, petroleum and
<br />petroleum by- products or any fraction thereof and asbestos.
<br />Improvements. The word "Improvements" means all existing and future improvements, buildings, structures,
<br />mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real
<br />Property.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, coats and expenses
<br />payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of,
<br />consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by
<br />Lender to discharge Trustor'a obligations or expenses incurred by Trustee or Lender to enforce Truster
<br />obligations under this Deed of Trust, together with Interest on such amounts as provided in this Deed of Trust.
<br />Specifically, without limitation, indebtedness includes the future advances set forth in the Future Advances
<br />provision, together with all interest thereon and all amounts that may be indirectly secured by the
<br />Cross - Collateralization provision of this Deed of Trust.
<br />Lender. The word "Lender" means Exchange Bank, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated February 7, 2017, in the original principal
<br />amount of $95,000.00 from Trustor to Lender, together with all renewals of, extensions of, modifications O1,
<br />refinancings of consolidations of and substitutions for the promissory note or agreement. NOTICE TO TRUSTOR:
<br />THE NOTE CONTAINS A VARIABLE INTEREST RATE.
<br />201 01 94
<br />
|