|
07-15-1999 �;� �0'7 4 5 6 DEED OF TRUST P,age 2
<br /> Loan No 764524 (Continued) ,
<br /> DEFINITIONS:..Tlae f�llowing wor,�s shail have the following meanings when used in this Deed of Trust. Terms not otherwise defined in this Deed of
<br /> Trust shall Fiave the meanings attributed to such terms in the Uniform Commercial Code. All references to dollar amounts shall mean amounts in
<br /> lawful money of the United States of America.
<br /> Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described below in the Existing Indebtedness section of
<br /> this Deed of Trust.
<br /> Guarantor. The word "Guarantor" means and includes without limitation any and all guarantors, sureties, and accommodation parties in
<br /> connection with the Indebtedness.
<br /> Improvements. The word "Improvements" means and includes without limitation all existing and future improvements, buildings, structures,
<br /> mobile homes affixed on the Real Property,facilities,additions,replacements and other construction on the Real Property.
<br /> Indebtedness. The word"Indebtedness"means all principal and interest payable under the Note and any amounts expended or advanced by
<br /> Lender to discharge obligations of Trustor or expenses incurred by Trustee or Lender to enforce obligations of Trustor under this Deed of Trust,
<br /> together with interest on such amounts as provided in this Deed of Trust. Specifically,without limitation,this Deed of Trust secures,in addition
<br /> to the amounts specified in the Note,all future amounts Lender in its discretion may loan to Trustor,together with all interest thereon; however,
<br /> in no event shall such future advances(excluding interest)exceed in the aggregate$30,000.00.
<br /> Note. The word ','Notq" me�ns�the I�lpte�dated July 15, 1999, in the principal amount of $20,070.50 from Trustor to Lender,
<br /> together with all reriewals,extensi�+ns, rfiodifications,refinancings,and substitutions for the Note. The maturity date of this Deed of Trust is July
<br /> 25,2003.
<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, all
<br /> replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation 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 property,interests and rights described above in the"Conveyance and GranY'section.
<br /> Related Documents. The words "Related Documents" mean and include without limitation all promissory notes, credit agreements, loan
<br /> agreements,environmental agreements,guaranties,security agreements, mortgages, deeds of trust,and all other instruments,agreements and
<br /> documents,whether 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 /> Trustor. The word'Trustor"means any and all persons and entities executing this Deed of Trust,including without limitation all Trustors named
<br /> above.
<br /> THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br /> PROPERTY, IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2)PERFORMANCE OF ANY AND ALL OBLIGATIONS OF
<br /> TRUSTOR UNDER THE NOTE,THE RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED
<br /> ON THE FOLLOWING TERMS:
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust,Trustor shall pay to Lender all amounts secured by this Deed
<br /> of Trust as they become due,and shall strictly and in a timely manner perform all of Trustor's obligations under the Note,this Deed of Trust,and the
<br /> Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be governed by
<br /> the following provisions:
<br /> Possession and Use. Until the occurrence of an Event of Default,Trustor may (a)remain in possession and control of the Property, (b) use,
<br /> operate or manage the Property,and (c)collect any Rents from the Property.
<br /> Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform ali repairs,replacements,and maintenance
<br /> necessary to preserve its value.
<br /> Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of Trust
<br /> � remains a lien or'r-tts�pro��rty,US�z1 far the tJErteratirnr, martufactare,�torage,°treatment��isposat, refease or threatened re�ease of any
<br /> hazardous waste or substance,as those terms are defined in the Comprehensive Environmental Response, Compensation and Liability Act of
<br /> 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Supertund Amendments and Reauthorization Act ("SARA"), applicable
<br /> state or Federal laws, or regulations adopted pursuant to any of the foregoing. Trustor authorizes Lender and its agents to enter upon the
<br /> Property to make such inspections and tests as Lender may deem appropriate to determine compliance of the Property with this section of the
<br /> Deed of Trust. Trustor hereby (a) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br /> becomes liable for cleanup or other costs under any such laws, and (b)agrees to indemnify and hold harmless Lender against any and all
<br /> claims and losses resulting from a breach of this paragraph of the Deed of Trust. This obligation to indemnify shall survive the payment of the
<br /> Indebtedness and the satisfaction of this Deed of Trust.
<br /> Nuisance,Waste. Trustor shall not cause,conduct or permit any nuisance nor commit, permit,or suffer any stripping of or waste on or to the
<br /> Property or any portion of the Property. Without limiting the generality of the foregoing,Trustor will not remove, or grant to any other party the
<br /> right to remove,any timber,minerals(including oil and gas),soil,gravel or rock products without the prior written consent of Lender.
<br /> DUE ON SALE—CONSENT BY LENDER. Lender may,at its option, declare immediately due and payable all sums secured by this Deed of Trust
<br /> upon the sale or transfer, without the Lender's prior written consent, of all or any part of the Real Property, or any interest in the Real Property. A
<br /> "sale or transfer"means the conveyance of Real Property or any right,title or interest therein;whether legal,beneficial or equitable;whether voluntary
<br /> or involuntary;whether by outright sale, deed, instaliment sale contract, land contract, contract for deed, leasehold interest with a term greater than
<br /> three (3) years, lease—option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real
<br /> Property, or by any other method of conveyance of Real Property interest. If any Trustor is a corporation, partnership or limited liability company,
<br /> transfer also includes any change in ownership of more than twenty—five percent (25%) of the voting stock, partnership interests or limited liability
<br /> company interests, as the case may be, of Trustor. However, this option shall not be exercised by Lender if such exercise is prohibited by federal
<br /> law or by Nebraska law.
<br /> TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are a part of this Deed of Trust.
<br />
|