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2� 17�27�� vEEv �F -rRusT Loan No: '1�'13D4'145 �Cont�nued� Page 9 bvund by fhe alteration or amendment. Annual Reports. If the Property is used for purposes other than Trustvr's re�iden�e, Trustvr shall furnish to Lender, upan request, a certified statement af ne# �perating incame re�ei�ed from the Prap�rty during Trustar's pre�ious fiscal year in such fvrm and detail as Lender shall require. "Net operating income" shall mean a�l cash re�eipts #rom the Property less all cash exp�nditures made in �vnnection with the ❑perati�n ❑f the Prvperty. Captivn Headings. Cap�ion headings in this Deed of Trust are fvr cvn�enience purposes anly and are not ta be used to interprefi flr define the pro�isions �f this Deed of Trust. Merger. There shall be na merger of the interest or estate cr�ated by this ❑eed af Trust with any athe� interest or estate in the Property at any time hefd by ar far the benefit of Lender in any capacity, withaut the writ#en cansent af Lender, Go�erning Law. This Deed o� Trust wiil be gv�erned by federal law applicable to Lender and, to the extent nvt preempted by federal law,the laws of the 5tate of Nebraska v►►ithaut regard to its conflic#s of faw prv�isians. This Deed a�Trus#has �aeen a�cepted by Lender in the 5tate ot Nebraska. Ghvice ❑� Venue. If there is a fawsuit, Trustar agrees up�n Lender's request to submit to the jurisdiction �f the �ourts �f Hall County, State of Nebraska. Joint and 5e►►eral Liability. All obligations of Trustvr under this ❑eed af Trust shall be joint and se�eraf, and all references to Trustvr shall mean each and e�ery Trustor. This means that ea�h Trustor signing below is responsible for all obligativns in this Deed of Trust. �Ilo 1Naiver by Lender, Lende�- sha�l not be de�med to have wai�ed any rights under this Deed of T�ust unless such wai�er is gi�en in writing and signed by Lender. No delay or omission �n the part of Lender in exercising any right shall �p�rate as a wai�er❑f su�h right ar any ather right. A wai�er by Lender af a pra�ision of this Deed of Trust shalf not prejudice or const�tute a wai�er ❑# Lender's right otherwise tv �iemand strict cnmpliance with that pro�isi�n ❑r any other prv�ision ❑f this Deed of Trust. No prEor wai�er by Lender, nor any course ❑f dealing between Lender and Trustor, sha�l constitute a wai�er ❑f any of Lender's rights or of any of Trustor's obligations as to any future transa�tions. When��er th� consent of Lender �s required under this Deed ❑� Trust, the granting af such cflnsent by Lender in any instance shall nat canstitute continuing c�nsent to subsequent instances where su�h cansent is required and in alf cases such consent may be granted vr vuithheld in the sole discretion of�ender. 5e�e�ability. If a caurt vf cvmpetent jurisdiction finds any pro�ision vf this ❑�ed of Trust ta be illegal, in�alid, ar unenforceable as ta any person or circumstance, that finding shall not make the affending pra�isian iltegal, in�alid, ar unenforceabte as ta any �ther person or circumstance. !f feasible, the offendin� pro�ision shall be �vnsidered modified s❑ tha� it be��mes legal, �alid and enforceable. lf the offending pro�isivn cannot be so mvdified, �t shall he cansidered deleted from this ❑eed of Trust. Llnless oth�rwise required by law, the illegality, in�a�idity, or unenforceability vf any pro�isivn vf this Deed ❑f Trust shall nvt a�fect the legality, �alidity ❑r enforceabifity of any o#her pr�a�isron ❑�thi� De�d at Trus�. Successors and Assigns. 5ubject to any limitatians stated in this De�d of Trust on transfer af Trustor's interest, this Deed ❑f Trust shall be binding upon and inure to the benefit of the parties, th�ir SL1CC�55�C5 and assigns. ifi ❑wnership of the Prvperty becomes �ested in a person ❑ther than Trustar, Lender, withaut natice to Trustor, may deal with Trustv�'s successors with reference to this Deed ❑f Trust and the lndebtedness by way of�orbearance ❑r extension without re�eas+ng Trustar from the obligati�ns ❑f this Deed �f Trust ar liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance af this ❑eed of Trust. WaiWer of Hvmestead Exemption. Trustor hereby releases and wai�es all rights and benefits of the homestead exemptian laws of the State af Nehraska as to all Indebtedness seGured by this Deed of Trust, DEFIN1Tt�N5. The fvllvwing capitalized wvrds and terms shall ha�e the fallawing meanings when used in this Deed a� Trust. Unless spe�ifi�ally stated to the contrary, ail references to dollar amounts shail mean amaunts in lawfuf m�ney of the United States vf America. Words and t�rms used in the singular shall in�lude the plural, and the plural shall incEude the singular, as the context may require. Wvrds and terms nflt ❑therwise defined in this Deed af Trust shal! ha�e the meanings attributed t❑ such terms in the Uniform Commercial Code: BenefiGiary. The w�rd "�enefi�iary" m�ans Fi�e Paints Bank, and its successors and assigns. Barr�wer. The word "Barrvwer" means EQMUN❑ R KERSHAW III and MICHELLE K KERSHAW and includes all co-signers and co-makers signing the Nate and all their successars and assigns. Deed of Trus#. The wvrds "Deed of Trust" mean this Deed ❑f Trust amang Trustar, Lender, and Trustee, and in�ludes withaut limitativn all assignment and security interest praVi5i�n5 relating to the Personal Property and Rents. Default. The ward "❑efault" means th� ❑efault set farth in this aeed of Trust in the sectivn titled "C]efault". EnWironmental Laws. The words "En�ir�nmental Laws" mean any and a�l state, federaf and lo�al statutes, regulations and ordinances re�ating t❑ the protection of human health or the en�ir�nment, including withaut limitati�n the Camprehensi�e En�ir�nmental Response, Compensation, and Liability Act �# 1984, as amended, 42 U.S.C. ��ction 95�1, et seq, t"CERCLA"�, the Superfund Amendments and Reauthorizatian Act of 1986, Pub. L.