|
UttuUr- Usual regez
<br />(Continued) 200302702
<br />Deed of Trust. The wards -Deed of Trust" mean this Deed of Trust among Grantor, Lender and Trustee.
<br />Grantor. The word "Grantor- means any and all persons and enaties executing this Dead of Trust. Any Grantor who signs this Dead of Trust, but
<br />does not sign the Credit Agreement, is signing this Dead of Trust only to grant and convey that Grantors interest in the Real Property and to grant
<br />a security interest in Grantor's interest in the Personal Properly to Lender and is not personally liable under the Credit Agreement except as
<br />otlwnvise provded by contract or law.
<br />Improvements. The word' Improvements' means end .includes wi)hout limilation all existing and future improvements, fixtures, buildings,
<br />structures, mobile homes affixed on the Real Property, ladilities, eddiflahs and other construction on the Real Property.
<br />Indebtedness. The word Indebtedness" means. all principal and idtgresl payable under the Credit Agreement and any amounts expended or
<br />advanced by Lender to discharge obligations of Grantor or, expenpeS (roamed by Trustee or Lender to enforce obligations of Grantor under this
<br />Deed of Trust, together with interest on such am0un15as prow, tl in this Dead of Trust. Specifically, without limitation, this Deed of Trust
<br />secures a revolving line of credit, which obligates Lender to mace advantee to Grantor 30 long as Grantor compiles with all Has terms W
<br />the Credit Agreement. Such advances may be made, repaid, and remade from time to time, subject to the IlmltMW that the total
<br />outstanding balance owing at any one lime, not including finance Charges on each balance at a fixed or vartable rate or sum as provided
<br />In the Credit Agreement, any temporary overages, other charges, and any amounts expended or advanced as provided In this paragraph,
<br />anal not exceed the Credit Limit as provided in the Credit Agreement. Notwithstanding the amount outstanding at any Partkular time,
<br />this Deed of Trust secures the total Credit Agreement amount shown above. The unpaid betance of the revolving line of credit may at
<br />certain rimes be lower than the amount shown or zero. A zero balance does rot ternilnab the line of credit or terminate Lender's
<br />Obligation to advance funds to Grantor. Therefore, the lien of this Deed of Trust will remain In Hill force and effect notwithstanding any
<br />2sro balance.
<br />..o. The word lease' means any lease between Grantor and the Lessor of the Property.
<br />Lender. The word lender means NAFCO NE Federal Credit Union, its successors and assigns.
<br />Personal Property. The words 'Personal Property mean all equipment. fixtures, and other articles of personal property now or hereafter owned
<br />by Grantor, and now or hereafter attached or affixed t0 the Real Property; together with all accessions, parts, and additions to, all repiacanwns of,
<br />and all substitutions for, any of such property; and together with ell proceeds (including without limitation all insurance proceeds and refunds or
<br />premiums) hom any sale or other disposition of the Property.
<br />Property. The word " Propery" means coilectively the Real Property and the Personal Property.
<br />Rea Property. The words "Real Property mean the property, interests and rights daserbed above In the "Conveyance and Gnmr section.
<br />Related Documents. The words 'Related Documents" mean and include without limitation all promissory notes, credit agreements, can
<br />agreements, guaranties, security agreements. mortgages• deeds of trust, and all other Instruments and documents, whether now or recall
<br />existing, executed in connection with Grantors Indebtedness to Lender.
<br />Trustee. The word "Trustee" means the entity shown at the top of page one of this Ceed of Trust.
<br />THIS D® OF TRUST AND, IF ANY, A SECURITY INTEREST IN THE PERSONAL PROPERTY, IS GIVEN TO SECURE (1) PAYMENT OF THE
<br />INDEBTEDNESS AND (2) PERFORMANCE OF EACH AGREEMENT AND OBLIGATION OF GRANTOR UNDER THE CREDIT AGREEMENT, THE
<br />RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />3. PAYMENT AND PERFORMANCE. Except as atherxise provided in this Deed of Trust, Grantor shall pay to Lender all amounts secured by the
<br />Deed of Trust as they become due, and shall shiCtly and in a timely manner perform all of Grantors obligations under the LOANLINERM Hone Equity
<br />Pan Credit Agreement and this Deed of Trust.
<br />a. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor'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. Grantor may (a) remain in possession and control of the Property, (b) use,
<br />operate or manage the Property. and Ic) collect any Rents from the Properly.
<br />Duty to Maintain. Grantor shall maintain the Property in lenantaole condition and promptly perform all repairs and maintenance necessary to
<br />preserve its value.
<br />Hanrdous Substances. Grantor represents and warrants that the Property never has been, and never will be so long as this Dead of Trust
<br />remains a lien on the PropeM• used for the generation, manufacture, storage, treatment, dispose, relessa or threatened release of any hazardous
<br />waste or substance, as those terms are defined in the Comprehensive Environmental Response, Compensation and Liability Pct of 1990, as
<br />amended, 42 U.S.C. Section 9601, at seq. (-CERCII'), the Superfund Amendments and Reauthorealion Act ("SARA"), applicable state or Federaf
<br />laws, or regulations adopted pursuant to any of the foregoing. Grantor authonzes Lender and its agents to enter upon the Property to make such
<br />inspections and tests as Lender may deem appropriate to determine Compliance of the Property with this section of the Dead of Trust. Grantor
<br />hereby (a) releases and waives any future claims against Lender for indemnity or contrbution in the event Grantor becomes liable tar cleanup or
<br />other costs under any such laws, and (b) agrees l0 indemnity and hold harmless Lender against any and all claims and losses esulfing tam a
<br />breach of this paragraph of the Deed of Trust. This obligation to indemnify shall survive the payment of the Indebtedness and the satisfaction of
<br />Ihrs Dead of Trust.
<br />Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stepping of a waste an a to the
<br />Property or any portion of the Property. Specifically without limitation, Grantor will not remove, or grant to any other parry the right to remove, any
<br />timber, minerals ( including oil and gas), soil, gravel or rack products without the prior wnnen consent of Lender.
<br />Lender's Right to Enter. Lender and its agents and representatives may enter upon the Real Property at all reasonable times to stand to
<br />Lender's interests and to inspect the PropeM for purposes of Grantors compliance with the terms and conditions of this Dead of Trust.
<br />Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations of all governmental
<br />authorities applicable to the use or occupancy of the Property. Grantor may contest to good faith any such law, ordinance, or regulation and
<br />withhold compliance during any proceeding, including appropriate appeals, so long as Grantor has notified Lender in writing poor to doing so and
<br />so long as Lender's interests in the Property are not jeopardized. Lender may require Grantor to past adequate security a a surety bond,
<br />reasonably satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Grantor agrees neither to abandon nor leave unattended the Property. Grantor shall dal all other act, in addition to those acts
<br />set forth above in Ihrs section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property.
<br />S. COMPLIANCE WITH LEASE. If there is a Leese an the Property, Grantor will pay all rents and will anon observe and perform on a tici basis all
<br />Other terms, covenants, and conditions of the Lease. Grantor Further agrees (a) not to surrender, terminals, or cancel the Lease, and (b) not to
<br />modify, Change, Supptemenl, alter. on amend the Lease. either orally or m writing, without Lenders prior written consent. No estate in the Property,
<br />
|