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DEED OF TRUST Loan No: 776465 200301441 (Continued) , Pages State of Nebraska. Joint and Several Liability. All obligations of Borrower and Trustor under this Deed of Trust shall be joint and several, and all references to Truster shall m each and every Truster, and all references to Borrower shall mean each and every Borrower. This means that each Borrower and Truster signing below is responsible for all obligations in this Deed of Trust. 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 writing and signed by Larder. No delay or omission on the part of Lender in exercising any right shall operate as a of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver ofr Lender 'a right otherwise to demand strict compliance with that provision n any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing between Lender and Trustoq shall constitute a waiver of any of Lander's rights or of any of Tnistor'S obligations as to any future transactions. Whenever the consent of Lender is required under this Decd of Trust, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent Is required and In all cases such consent may be granted or withheld in the sale discretion of Lender. Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or enforceable as to any person or circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other person or circumstance. If feasible, the offending provision shall he coasiderad modified so that It becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be considered deleted from this Dead of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enfarceability of any other provision of this Deed of Trust. 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 binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested In a person other than Truster, Lender, without notice to Truster, may deal with Tructor's successors with reference to this Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Truster from the obligations of this Deed of Trust or facility under the lmareadn ors. Time Is of the Essence. Time is of the essence in the performance of this Deed of Trust. Waiver of Homestead Exemption. Truster 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 capitalimd 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 shall m 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 Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code: Beneficiary. The word "Beneficiary" means Five Paints Bank, and its successors and assigns. Borrower. The word "Borrower" means RASMUSSEN Is ASSOCIATES INC. BEAVERCREEK INC, STEVEN P RASMUSSEN and VICKIE K RASMUSSEN, and all other persons and entities signing the Note in whatever capacity. Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Truster, Lender, and Trustee, and 'includes without limitation all assignment and security interest provisions relating to the Personal Property and Rents. Default. The word "Default" means the Default sat forth in this Deed of Trust in the section titled "Default ". Environmental Laws. The words "Environmental Laws' recan any and all state, federal and Intel statutes, regulations and ordinances relating to the protection of human health or the environment, Including without limitation the Comprehensive Fovironmentol Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, at seq. I "CERCLA "1, the Superfund Amendments and Reauthorization Act of 1996, Pub. L. Nn. 99 -499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, at seq., the Resource Conservation and Recovery Art, 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 set forth in this Deed of Trust In lire events of default section of this Deed of Trust Existing Indebtedness. the words "Existing Indebtedness" mean the indebtedness described in the Existing Liens provision of this Dead of Trust. Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lenderr including without limitation a guaranty of all or part of the Note. Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, ronrentrdinn or physical, chemiral or infectious characteristics, may cause or pose a present or potential haeard 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 it their very broadest s and include without limitation any and all hazardous or toxic substances, materials or waste as defined 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 affixed on the Real Property, facilities, additions, replacements and other construction on lire Real 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 Trustor's obligations or expenses incurred by Trustee or Lender, to enforce Truster's obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.