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DEED OF TRUST Loan No: 1637611 (Continued) 200300146 Page 6 Time Is of the Essence. Time is of the essence in the performance of this Deed of Trust Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of Nebraska as to all Indebtedness secured by this Deed of Trust. DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless specifically stated to the contrary, all references to dollar amounts shell mean amounts in lawful money of the United States of America. Words and terms 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 defined In this Dead of Trust shell have the meanings allributad to such terms in the Uniform Commercial Coda: BeneBClary. The word "Beneficiary" means United Nebraska Bank, and its successors and assigns. Borrower. The word "Borrower" means Mehring, Inc.; and Donald D Mehring, and all other persons and entities signing the Note in whatever capacity. Deed of Trust. The words "Deed of Trust" mean this Dead of Trust among Trustor, Lender, and Trustee, and includes without limitation all assignment and security interest provisions relating to the Personal Property and Rents. Default. The word mef n fi" means the Default set forth in this Dead of Trust in the section filled "Default ". Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended. 42 U.S.C. Section 9601, at seq. ( "CERCL % the Summund Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 ( "SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1601, at seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, at seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. Event of Default. The words 'Event of Default" mean any of the events of default sat forth in this Dead of Trust in the events of default section of this Deed of Trust. Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including without limitation a guaranty of all or pad of the Note. Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as dented by or listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum and petroleum by- products or any fraction thereof and asbestos. Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes mixed on the Real Property, facilities, additions, replacements and other construction on the Reel Property. Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Trustors obligations or expenses Incurred by Trustee or Lender to enforce Trustor's obligations under this Dead of Trust, together with interest on such amounts as provided in this Deed of Trust. Lender. The word "Lender" means United Nebraska Bank, its successors and assigns. Note. The word "Note" means the promissory note sated January 3, 2003, In the original Principal amount of $168,000.00 from Borrower to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. The maturity date of this Deed of Trust is January 10, 2018. Personal Property. The words "Personal Properly" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Trustor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such properly; and together with all proceeds (including without limitatlon all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property. Property. The word "Properly" means collectively the Real Property and the Personal Property, Real Property. The words "Real Property" mean the real properly, interests and rights, as further described in this Deed of Trust. Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness. Rents. The word "Rents" means all present and future rents, revenues, Income, Issues, royalties, profits, and other benefits derived from the Property. Trustee. The word "Trustee" means United Nebraska Bank , whose address is Teo N. Webb, Grand Island, NE 68802 and any substitute or successor trustees. Trustor. The word'Trustor" means Mehring, Inc.. TRUSTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND TRUSTOR AGREES TO ITS TERMS. TRUSTOR MEHRI ,INC. By: D ale D em ing, Pr President e l g, Inc.