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000007880
<br />DEED OF TRUST
<br />(Continued)
<br />Page 6
<br />operation of the Property.
<br />Caption Headings. Caption headings In this Deed of Trust are for convenience purposes only and are not to be used to Interpret or define
<br />it* provisions of this Deed of Trust.
<br />Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate In the Property at
<br />,. any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
<br />Governing Law. This Dead of Trust wltl be governed by, construed and enforced M accordance with federal law and the laws of tim
<br />State of Nebra" The Deed of Trust has been accepted by Lender in 1110 Stale of Nebraska.
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver Is given M
<br />writing and signed by Lender. No delay or omission on the part of Lender In exercising any right shall operate as a waiver of such right or
<br />any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise
<br />to demand stmt compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of
<br />dealing between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustor's obligations as to any future
<br />transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting of such consent by Lender in any instance
<br />stall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be
<br />granted or withheld in the sole discretion of Lender.
<br />SeveraMNty. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or uranforosabls as to any
<br />circumstance, that finding shall not make the offending provision Illegal, Invalid, or unenforceable as to any other circumstance. If feasible,
<br />the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so
<br />modified, It shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the Illegality, Invalidity, or unenfomeaboty
<br />of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any 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's interest, this Deed of Trust shall be
<br />binding upon and inure to its benefit of its parties, their successors and assigns. If ownership of the Property becomes vested in a parson
<br />other than Trustor, Lender, without notice to Trustor, may deal with Trustor's successors with reference to this Deed of Trust . and the
<br />Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of Trust or liability under the
<br />Indebtedness.
<br />Thae Is of 1110 Essence. Time Is of the essence in the performance of this Deed of Trust.
<br />Wdm of Homestead Exemption. Trustor hereby releases and waves all rights and benefits of the homestead exemption laws of the State
<br />of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless specifically
<br />stated to the contrary, all references to dollar amounts shall mean amounts In lawful money of the United States of America. Words and terms
<br />used In the singular shall Include the phial, and the plural shall Include the singular, as the context may require. Words and terms not otherwise
<br />defined to this Deed of Trust shall have the meardngs attributed to such terns in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means United Nebraska Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means Reis Construction, Inc., and all other persons and entitles signing the Note in whatever capacity.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without limitation all
<br />assignment and security interest provisions relating to the Personal Property and Rents.
<br />Default. The word "Deteulr means the Default set forth in this Deed of Trust in the section titled "Default".
<br />EnvironmsnW Laws. The words 'Environmental Laws" mean any and sit state, federal and local statues, regulations and ordinances
<br />rotating to the protection of human health or the environment, Including without limitation the Comprehensive Environmental Response,
<br />Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, at seq. ("CERCLA"), the Superfund Amendments and
<br />Reauthorization Act of 1986, Pub. L. No. 99499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, at seq., the
<br />Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, at seq., or other applicable state or federal taws, rules, or regulations
<br />adopted pursuant thereto.
<br />Event of Default. The words 'Event of Defeuft" mean any of the Events of Default set forth In this Deed of Trust in the Events of Defauft
<br />section of this Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including without
<br />Imitation a guaranty of all or part of the Note.
<br />Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical,
<br />chemical or infectious characteristics, may cause or pose a present or poential hazard to human health or the environment when Improperly
<br />used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are
<br />used in their very broadest sense and Include without Imitation any and all hazardous or toxic substances, materials or waste as defined by
<br />or listed under the Environmental Laws. The term "Hazardous Substances" also Includes, without Imitation, petroleum and petroleum
<br />by-products or any fraction thereof and asbestos.
<br />Improvements. The word "Improvements" means all existing and future Improvements, buildings, structures, mobile homes affixed on the
<br />Reel Property, facilities, additions, replacements and other construction on the Real Property.
<br />Indeblednew The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or
<br />Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related
<br />Documents and any amounts expended or advanced by tender to discharge Tnutoes obligations or expenses incurred by Trustee or
<br />Lender to enforce Trustoes obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.
<br />Lender. The word "L ender" means United Nebraska Bank, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated September 21, 2000, in the original principal afnount of
<br />$100,000.00 from Trustor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and
<br />substitutions for the promissory note or agreement.
<br />Personal Property. The words "Personal Property' mean all equipment, fixtures, and other articles of personal property now or hereafter
<br />owned by Trustor, and now or hereafter attached or affixed to the Real Property, together with all accessions, parts, and additions to, aI
<br />replacements of, and all substitutions for, any of such property, and together with all proceeds (including without Imitation all Insurance
<br />proceeds and refunds of premiums) from any sale or other disposition of the Property.
<br />Property. The word "Property" means collectively the Real Property and the Personal Property.
<br />Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this Deed of Trust.
<br />Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other Instruments,
<br />agreements and documents, wgether now or hereafter existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the
<br />Property.
<br />Trustee. The word "Trustee" nears United Nebraska Bank, whose address Is 700 N. Webb, Grand Island, NE 86802 and any substitute or
<br />successor trustees.
<br />Tfttetor. The word "Trustee means Reis Construction, Inc..
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