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DEED OF TRUST
<br />Loan No: 776073 200300668 (Continued) Page 7
<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 />the provisions of this Dead 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 Deed of Trust will be governed by and interpreted in accordance with federal hwx and the laws of the State of
<br />Nebraska. This Deed of Trust has been accepted by Lender in the Stale of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Truster agrees upon Lender's request to submit to the jurisdiction of the courts of Hall County, State
<br />of Nebraska.
<br />Joint and Several Liability. All obligations of Truster under this Deed of Trust shall be joint and several, and all references to Truster shall
<br />mean each and every Truster. This means that each Truster signing below is responsible for all obligations in this Deed of Trust.
<br />No Waiver by Lender. Truster understands Lender will not give up any of Lender's rights under this Deed of Trust unless Lender does so in
<br />writing. The fact that Lender delays or omits to exercise any right will not mean that Lender has given up that right. If Lender does agree in
<br />writing to give up one of Lender's rights, that does not mean Truster will not have to comply with the other provisions of this Deed of Trust.
<br />Truster also understands that if Lender does consent to a request, that does not mean that Truster will not have to get Lender's consent
<br />again if the situation happens again. Truster further understands that just because Lender consents to one or more of Truster's requests,
<br />that does not mean Lender will be required to consent to any of Truster's future requests. Trustor waives presentment, demand for payment,
<br />protest, and notice of dishonor.
<br />Severabllity. If a court finds that any provision of this Deed of Trust is not valid or should not be enforced, that fact by itself will not mean
<br />that the rest of this Dead of Trust will not be valid or enforced. Therefore, a court will enforce the rest of the provisions of this Deed of Trust
<br />even if a provision of this Deed of Trust may be found to be invalid or unenforceable.
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Truster'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 Property becomes vested in a person
<br />other than Truster, Lender, without notice to Truster, may deal with Truster's successors with reference to this Deed of Trust and the
<br />Indebtedness by way of forbearance or extension without releasing Truster 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 />Waiver of Homestead Exemption. Truster 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 words shall have the following meanings when used in this Deed of Trust:
<br />Beneficiary. The word "Beneficiary" means Five Points Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means ALLAN C PAVNE and CYNTHIA L PAVNE, and all other persons and entities signing the Note
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Truster, Lender, and Trustee, and includes without limitation all
<br />assignment and security interest provisions relating to the Personal Property and Rents.
<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, at seq. ( "CERCLA "), the Supedund Amendments and
<br />Reauthorization Act of 1986, Pub. L. No. 991 ("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 laws, rules, or regulations
<br />adopted pursuant thereto.
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the event of default
<br />section of this Deed of Trust.
<br />Ezlsting Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens provision of this Deed of
<br />Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to FeP. er, I cluding 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, stared, 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 Environmental 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 constructor 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, consolidators of and substitutions for the Note or Related
<br />Documents and any amounts expended or advanced by Lender to discharge Truster's obligations or expenses incurred by Trustee or
<br />Lender to enforce Truster's obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.
<br />Lender. The word 'Lender" means Five Points Bank, its successors and assigns. The words "successors or assigns" mean any person or
<br />company that acquires any interest in the Nate.
<br />Note. The word "Nate" means the promissory note dated January to, 2003, in the original principal amount of $3,530.32 from
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