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2� 17�2�98 DEED �F TRUST L�an No: '1 D"13�4'I�� ont�nu�d� Page 9 baund by the alterativn or amendmen�, Annual Reparts. If the Prvperty is used far purpvses other than Trustar's residence, Trustor shall furnish t❑ Lender, upan request, a certified statement of net aperating incame recei�ed fram the Prvperty during Trustor's pre�ious fiscal year in su�h fvrm and detail as Lender sha�l require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the operation of the Prvperty. Caption Headin�s. Caption headings in this Deed �f Trust are for con�enience purp�ses only and are not to be used t❑ interpret�r define the pro�isions af�his Deed of Trust. Merger. There shall be na merger af the interest ❑r estate created by�his Deed �f Trust with any ather interest�r estate in the Property at any time held by vr for the bene�+t vf Lender in any capacity, wi�hout the written consent of Lender, Go�erning Law. This Deed vf Trust will be go�erned by federal iaw appf��able tv Lender and, to the �xtent nat preempted by federa� law,the laws of the State of Nebraska without regard to its conflicts vf law prv�isivns. This Deed❑�Trust has been ac�epted by Lender in the State of Nebraska. Chvi�e of Venue. I� there is a fawsuit, Trustar agrees upon Lender's request to submit to the jurisdic�ion of the courts of Hall Caunty, State of Nebraska. Joint and Se►►sral Liahility. All obligations af Trustor under this Deed �f Trust shall be joint and se�era�, and all references to Trustvr sha11 mean each and e�ery Trustor. This means that each Trustar signing below is respansible �vr a!I obligat�vns in this ❑eed of Trust. No 1111aiver by Lender. Lender sha�l not be deemed to ha�e wai�ed any rights und�r this Deed of Trust unless such wai�er is gi�en in writing and signed by Lender. No delay ar omission on the part af Lender in exercising any right shall c�perate as a wai�er ot su�h rtght ❑r any ather right. A wai�er by Lender of a pro�ision ❑f this Deed of Trus� shall n�t prejudice vr constitute a wai�er ❑f Lend�r's right ❑therwise tv demand strict cvmpliance with tha# pro�is�vn ar any other pro�isian o� this Deed o# Trust. No prior wai�er by Lender, nor any cvurse of dea�ing between L�nder and Trustor, shall constitute a wai�er of any oi Lender's rights or of any �f Trustor's abligatians as ta any future transactions. Whene�er the �onsent vf L�nder is required under this Deed ❑f Trust, the granting Df SUCh cvnsent hy Lender in any instance shall not constitut� continuing consent to subsequent instances where suGh consent is required and in all cases such consent rnay be granted ar withh�ld in the sole discretivn a#Lender. Se�erab�lity. If a caurt �f compet�nt ju�isdiction finds any pro�isivn of this ❑eed af Trust to h� iiiegal, in�alid, ❑r unenforceable as to any persan or circumstan�e, that finding shal� not mak� the �ffending pro�ision ill�gal, in�alid, ❑r unenforceab#e as tv any vther person vr circumstance. If #easible, the vffending pro�is�an shail be considered modified so that it becnmes legal, valid and enfvrceable. �f the of�ending prv�ision cannvt be so modified, it shall be �onsidered deleted from this Deed of Trust, Unless otherwise required by law, the illegality, in�alidity, ❑� unenforcea�ility of any pro�isivn of this D�ed af Trust sha!! noi affe�t the lega�ity, �afidity ❑r enforceability of any other pro�isian at th�s Deed ot Trust. Successors and Assigns. Subject to any limitations stated in this Deed of Trust an transfer of Trustar's interest, this De�d af Trust shall be binding upvn and inure to the �enefit of the parties, their successors and assigns. If nwnership of the Prvperty beGvmes �ested in a persvn vther than Trustor, Lender, without notice t❑ Trustor, may deai with Trustor's successors wi�h reference to this �]eed of Trust and the In�ebt�dness by way ❑f forbearan�e or ex�ensian with�ut releasing Trustor from the obligations of this Deed of Trust or liabil�ty under the Indebtedness. Tims is vf the Essence. Time is of the�ssence in th� performance ❑f this Deed af Trust. Vllai�er o� Homestead Exemption. Trustvr hereby releas�s and wai�es all rights and benefits ❑f the hamestead exempti�n laws nf�he State af Nebraska as to all lndebtedness se�ured by�his De�d of Trust. DEFINITI[3NS. The fo��owing capitalized words and terms shall ha�e the fallawing mean�ngs when used in this Deed vf Trus�. Un�ess specifically stated to the cantrary, alt references to dollar amvunts shall mean amounts in lawful maney vf the United 5ta�es of Ameri�a. Words and terms used in the singular shall �nclude the plural, and the plural shall tnc[ude the singular, as the context may require. Wor�ls and terms not otherw+se defined 'sn this ❑eed o# Trust shai� ha�e the meanings attributed t� such terms in the Unifvrm �ommerciaf Cvde: BenefiGiary. The word "8eneficiary" means Fi�e Points Bank, and its success�rs and assigns. 6orrower. The word "Bar�vwer" means E�MUND R KERSHAW ill and MICHELLE K KERSHAW and includes all cv-signers and co-makers signing the Note and all their successars and assigns. Deed v� Trust. The wvrds "Deed �f Trust" mean this Deed of Trust among Trustor, L�nder, and Trustee, and includes without limitatian all assignment and se�urEty interest pro��sions relating tv the Personal Prvperty and Rents. Def�ult. The wvrd "❑efault" means the Default set farth in this Deed vf Trust in the section titl�d "aefault". En�ironmental Laws. The words "En�ir�nmentai Laws" mean any and all state, federal and lacal statutes, regulatians and ordinances relating to the prvtection ❑f human health ❑r the en�ironment, including without limitativn the Comprehensi�e En�ironmental Respnnse, Comp�nsation, and Liabili�y Act of 198�, as amended, 4� U.S.C. �ec�ian 96D1, et seq. �"CERCLA"�, the 5uperfund Amendments and Reauthorizatian Act of 1986, Pub. L.