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2� 17�2�59
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<br /> DEEa �F TRUST
<br /> t�onti�ued� Page 7
<br /> wai�e��s gi�en in writing and signed hy Lende�. No delay vr omission an the part of Lender in exercising any right
<br /> shall operate as a wa��er of such right or any other right. A wai►►er k�y Lender vf a pro�isivn of this De�d of Trust
<br /> shal[ nox prejudice ar �anstitute a waiver of Lender's right otherwise ta dernand strict complian�e with that
<br /> pro�ision or any other pro�ision ofi this Deed of Trust. Na privr wai�er by Lender, nar any caurse af dealing
<br /> betwe�n Lender and Trustor, shal� constitute a waiver vf any of Lender's rights or of any of Trustar's ahligatians
<br /> as t� any future transectivns. Vllhene�er the consent of Lsnder is requ�red unde�this Deed af Trust, the granting
<br /> of such consent by Lender in any instan�e shall na�e�nstitute continuing cansen#to suhsequent instances where
<br /> such eansent is required and in all cases such cansent may be granted ar withheld in the sole discretion❑f Lender.
<br /> Se�erability. If a cvurt of competent juri9di�tion finds any pro�isivn vf this ❑eed af Trust to be illegal, in�alid, or
<br /> unen�nrceable as tv any circumstance, tha# finding shali not makg the offending pra�isivn �Ilegal, in�alid, or
<br /> unenforceable as to any other circumstance. If feasible► the vffending pro�isian shali be �ansidered modified so
<br /> tha� it becames lega�, �alid and en#arceable. !f th� �#fending prv►►ision cannot be so mvdified, it shall he
<br /> cansidered dele�ed fram this ❑eed of Trust. Lfnless otherwise requir�d by law, the illegality, in�alidity. or
<br /> unen�vrceabili#y of any pravis�on vf�his Deed vf Trust sha�l no#affect the legality,�alidity ❑r enfvrceability af any
<br /> ❑ther pra�ision af this peed of Trust,
<br /> SucGes�ors and Assigns. Subje�#ta any limitations state� in this ❑eed af Trust on t�ansfer of Trustar's int�rest,
<br /> this Deed v#Trust shall be bin�ing upon and inure to the benefit vf the parties, their successors and assigns. If
<br /> ownership of the Property hscomes�ested in a pers�n�ther than Trustor, Lender, withaut nv�tice#v Trustvr, may
<br /> deai with Trustor's successors with reference to ihis Deed❑f T'rust and the Indebtedness by way❑f f�orbearance vr
<br /> extension without releasing Trustor from the vbligations of this Deed of Trust or liahility under the Indeb�edness.
<br /> Tirne is of#he Essance. Time is o#the essence in the perfarmance of this Deed af Trust,
<br /> Vllai�e Jury. Ali parties to this Deed vf Trust herehy wai�e the right to any j.ury trial in any activn, proceeding, or
<br /> Gountercl��m brought by any party against any other perty,
<br /> Vlrai�er of Homes#ead Exemptian. Trustar herebY releases and wai�es a�i rights end benefits of the hvmestead
<br /> exemption laws❑f the State af Nebraska as ta all Indehtedn�ss secured by this Deed of Trust.
<br /> DEFINIT��N5. The fafiowing �apitali�ed words and terms shall ha�e the f�llowing rneanings when used in this Deed ofi
<br /> Trust. Unless specificelly stated#o the contrary, all referen��s ta dollar arnounts shall mean amaunts in �aw�uf money
<br /> of the l#nited States af Ameri�a. INvrds and terms used in the singular sha�l in�lude #he plural, and �he plural shall
<br /> inc[ude the singular. as the context may requ�re, W�rds and terms nvt otherwise defined in this ❑eed of Trust shall
<br /> ha�e the meanings attributed t4 such terms in the Uniform Commercial Code:
<br /> B�nefici�ry, Thg wv�d "Benef�ciary" means Exchange Bank,and its successors and assigns k ^ .
<br /> �orrower. The word "Borrower" means Panawi�� L�nd Cvmpany, LLC and inciudes al1 co-signers and �v-makers
<br /> signing the Nate and all their successors and assigns.
<br /> Deed af Trus#. The wo�ds "Deed vf T�ust" rnean this Deed of Trust amang Trustor, Lender, and Trus�ee, and
<br /> includes w�thaut limitat�on all assignmen# and security in#erest prv�isivns r�lating tv the Personal Property and
<br /> Rents. � ,
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<br /> De#auit. The word "De#ault" means the De#ault set fnrth in this Deed of Trust in the sectivn ti#�ed "Default". �
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<br /> Enviranrnenta! Laws. The words "En�iranmental Laws" mean any and all s#ate, federal and Iocal statutes, '
<br /> regu�axions and ordinances reiafing ta the prote�tivn o� human health or the en�irc�nment, �ncluding withvut
<br /> limitati�n the C�mpreh�nsi�e En�iranmental Respanse� Cornpensativn. �nd Liabi�ity A�t o# 198�, as amended. 42
<br /> U.S.C. Sectian 9fi�1, et seq. �"CERCLA"}� the Supsrfund Amendrnents and Reauthorization Act vf 1985, Pub. L.
<br /> No. 99-499 �"SARA"y,the Hazardvus Materials Transportation Act, 49 IJ.S.C.�ection 18�1.et seq., the Resource
<br /> Cons�r��tion and Reca�ery Act, 4� U.S.C. 5ectian �9�1, et seq.. ar other app�icabfe state ar federal laws, rules.
<br /> . or reguRatians advpted pursuant theretv.
<br /> . x Event af,Defaul�. The word� "Event of Defautt" mean any of the e�ents of d�fault set forth in this Deed of Trust in
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<br /> the eW�nts of default section of this Deed of Trust.
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<br /> � `Guaranty, The ward "Guaranty" means the guaranty frvm gu�rantvr,�endv���r�=su�r�t�,�orr��c�or�modation party to
<br /> Lender, in�luding witl�out limitativn a guaranty of all or part'of the No�e. ��:�'��_�"�� ���
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<br /> H��ardaus Su�stan�es. The words "Hazardaus 5uhstan�es�=���rrr�aft� rr�a�e�s-��t��A�because vf their
<br /> q uantity,
<br /> cancentrativn ar physical, chemical or infec#ious Gharac#eristics, may cause or pvse a present or pot�ntia� hazard
<br /> to humen health or the en�ironment when impr�perly us�d.treated. starsd, disposed of, generated, rnanu�actured,
<br /> transpa�ted or ott�erwise handled, The words "Hazardaus Substances" are us�d in their very braadest sense and
<br /> include without fimitation any and a�� hazardous or toxic sub5tanCes� materials vr waste as defined k�y or I�sted
<br /> under the En�iranmental Laws. The term "Hazardous Substances" also in�ludes, withvut limitation, petroleum and �
<br /> petroleum by-products or any fra�tion thereof and ashest�s. �
<br /> Impra�ements. The word "lmpro�ements" means all ex�sting and future irnprvvements, buildings, structures,
<br /> mobiie homes affixed on the Real Property, facilities, addEtians, replacements and oth�r cvnstruction on the Real
<br /> Property,
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<br /> Indebtednass. The word "�ndebtedness" means all princ�pal, interest, and other arnoun�s, casts and expenses ;
<br /> payable under the Note or Related Documents� tQgether with all renewals �#. extensions of, modEfications af, '
<br /> cbnsolidations af and substitutivns#or the Note or Reiated Dacurnents and any am�unts expended or ad�an�ed by �
<br /> Lender tv dis�harge Trustor's vhligatians vr expenses in�urred by Trustse �r Lender tp en�orce Trustor's
<br /> obligatians under this Deed ❑#Trust, tvgether wi#h interest on such amounts as pco�ided in this Deed af Trust. j
<br /> 5pecifically, without limitat�on. lndebtedness includes the future ad►►ances set �vrth in the Future Ad�ances !
<br /> pro�is�on, together with a11 interest thereon and all arnounts that may be indirectly secured by the �
<br /> Crvss-Collateralization pro�isivn of this Deed of Trust.
<br /> Lender. The word "Lend�r" means Exchange Bank, �ts su�cess�rs and assigns. �
<br /> Nats. The word "Nvte" rneans the promissory nQte dated Apri� '!4, �D'��, in th� orig�nal principal amvunt �
<br /> of �57�,�(��.�� trom Trustor tv Lender, togethsr with a!I renewals ❑f� extensions a�, modifications of, '
<br /> ref�nanGings of, consalidations o�, and substitutians for#he promissary no#e or agr�ement. N�TlCE T� TRUST�R: �
<br /> THE N�TE C�NTAlNS A VARIABLE[NTEREST RATE. •`
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<br /> P�rsonal Property. The w�rds "Personal Prvperty" mean all equipment, fixtures, and vther ar�icles of persvnal
<br /> pr�perty now or hereafter owned by Trustvr, and now or hereaft�r at#ached or a#fixed tv the Real Property;
<br /> together w�th all access�ons, parts, and additians to, all replacements of, and all substitutions for, any ❑f such
<br /> property; and tog�ther with �II proceeds tincluding withvut l�mitation -all �nsurance pro�eeds and refunds of
<br /> premiumsf from any sale or other d�spositi�n of the Prnpe�rty.
<br /> Praperty. The wvrd "Property" means cvllect��ely the Re�l Prvperty and the Persona! Property.
<br /> Real Rroperty. The wards "Real Property" rnean the real property, interests and rights, as further des�rtbed in this
<br /> Deed af Trust.
<br /> Rela#ed Docum�nts. The words "Related Documents" mean a�l p��missory nvtes, credit agreements, lvan
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