|
; `: DEED OF TRUST Page 6
<br /> 9 9 1 U 9 9'7 8 (Continued)
<br /> governed by whichever applfcable state or federal law would uphold or would enforce such challenged or questioned provision.
<br /> The loan transaction which is evidenced by the Note and this Deed of Trust has been applied for, considered,approved and made,
<br /> and all necessary loan documents have been accepted by Lender in the State of South Dakota.
<br /> Choice of Venue. If there is a lawsuit,Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of HUGHES County,
<br /> State of South Dakota.
<br /> Joint and Several Liability. All obligations of Trustor under this Deed of Trust shall be joint and several, and all references to Trustor shall
<br /> mean each and every Trustor. This means that each Trustor signing below is responsible for all obligations in this Deed of Trust.
<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 in
<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 strict 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 /> shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be
<br /> granted or withheid in the sole discretion of Lender.
<br /> Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any
<br /> person or circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other person or
<br /> circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the
<br /> offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the
<br /> illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other
<br /> 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 the benefit of the parties,their successors and assigns. If ownership of the Properly becomes vested in a person
<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 /> Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br /> Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury trial in any action,proceeding,or counterclaim brought by any
<br /> party against any other party.
<br /> Waiver of Homestead Exemptlon. Trustor hereby releases and waives 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 Unfted States of America. Words and terms
<br /> used in the singular shall include the plural,and the plural shall include the singular,as the context may require. Words and terms not otherwise
<br /> defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br /> Beneficiary. The word"Beneficiary"means BANKWEST,and its successors and assigns.
<br /> Borrower. The word"Borrower"means GAIL V MILLER, DELORIS A MILLER,JOE COBLE and BARBARA L COBLE,and all other persons
<br /> and entities signing the Note in whatever capacity.
<br /> Deed of Trust. The words "Deed of TrusY' 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"DefaulY'means the Default set forth in this Deed of Trust in the section titled"DefaulY'.
<br /> Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances
<br /> relating 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, et seq. ("CERCLA"), the Superfund Amendments and
<br /> Reauthorization Act of 1986, Pub. L. No.99-499("SARA"),the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801,et seq.,the
<br /> Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or regulations
<br /> adopted pursuant thereto.
<br /> Event of Default. The words "Event of DefaulY' mean any of the Events of Default set forth in this Deed of Trust in the Events of Default
<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 /> limitation 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 potential 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 limitation any and all hazardous or toxic substances, materials or waste as defined by
<br /> or listed under the Environmentai Laws. The term "Hazardous Substances" also includes, without limitation, 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 /> Real Property,facilities,additions,replacements and other construction on the Real Property.
<br /> Indebtedness. 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 Lender to discharge Trustor's obligations or expenses incurred by Trustee or
<br /> Lender to enforce Trustor's obligations under this Deed of Trust,together with interest on such amounts as provided in this Deed of Trust. In
<br /> addition, and without limitation,the term "Indebtedness" includes all amounts identified in the Future Advances paragraph of this
<br /> Deed of Trust. However,the term"Indebtedness" is subject to the Iimitations identified in the Maximum Lien paragraph of this Deed
<br /> of Trust.
<br /> Lender. The word"Lender"means BANKWEST,its successors and assigns.
<br /> Note. The word "Note" means the promissory note dated September 24, 1999, In the original principal amount Of
<br /> $500,000.00 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. The maturity date of this Deed of Trust is October 10,2014.
<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 properly; 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 real property,interests and rights,as further described in this Deed of Trust. ;
<br /> I
<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,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 />
|