|
DEED OF TRUST
<br />Loan No:119827 200302868 (Continued) Page
<br />no offending provision shall be considered modified so that It becomes legal, valid and enforceable. If the offending provision cannot be so
<br />modfied, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, Me illegality, invalidity, or unenforceability
<br />of any provision of Mis Dead of Trust shall not affect the legally, validity or enforceability of any other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any Iimilatlons stated in this Dead of Trust on transfer of Truster's interest, this DOM 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 Man Trustor, Lender, without notice to Truster, 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 Truster from Me obligations of this Dead of Trust or liability under Me
<br />Indebtedness.
<br />Time is of the Essence. Time is of the essence in Me performance of fins Deed of Trust.
<br />Waiver of Homestead Exemption. 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 />DEPINMONS. 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 United States of America. Words and terms
<br />used in Me singular shall include Me plural, and Me plural shall include the singular, as the contest may require. Words and terms not oMenwlse
<br />defined In this DOW of Trust shall have the meanings attributed to such terms in Me Uniform Commercial Code:
<br />Beneficiary. The word 'Beneficiary' means Geneva Sane Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means W. B. P. Partnership, and all other persons and enmies signing the Note In whatever capacity.
<br />Deed of Trust. The words 'Dead of Trust" mean this Dead 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 "Default' means Me Default set forth in this Deed of Trust in the section titled "Default ".
<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances
<br />relating M the protection of human health or the environment, including without limitation the Comprehensive Environmental Response,
<br />Compensation, and Liability Act of 1880, as amended, 42 U.S.C. Section 9601, at seq. ( "CERCLA "), the Superfund Amendments and
<br />Reauthorization Act of 1986, Pub. L No 99-499 ( "SARA "), Me 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, nt 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 Me events of default set forth in this Deed of Trust in the events of default
<br />section of this Dead of Trust.
<br />Guarantor. The word 'Guarantor' means any guarantor, surely, or accommodation party of any or all of Me Indebtedness.
<br />Guaranty. The word "Guaranty" means Me guaranty from Guarantor to Lender, including without limitation a guaranty of all or pad of the
<br />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 Me environment when improperly
<br />usel 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 Environmental Laws. The term 'Hazardous Substances" also includes, without limitation, petroleum and petroleum
<br />by- pricell or any fraction thereof and asbestos.
<br />Improvements. The word "Improvements' means all existing and future improvements, buildings, structures, mobile homes affixed! on Me
<br />Real Property, facilttles, additions, replacements and other construction on the Real Property.
<br />Indebtedness. The.vr "Indebtedness means all principal, interest, and other amounts, costs and expenses pay�le untler Me 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 M discharge Trusbr's obligations or expenses incurred by Trustee or
<br />LaMar to enforce Trustor's obligations under this Deed of Trust, together with interest on such amounts as provided in firs Dead of Trust.
<br />Lender. The word "Lender" means Geneva State Bank, Its successors and assigns.
<br />Note. The word "Note" means the promissory note dated March 7, 2003, in the original principal amount of $931,937.50 from
<br />Truster M Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the
<br />promissory note or agreement.
<br />Personal Properly. 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 Me Real Property; together with all accessions, parts, and additions to, all
<br />replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance
<br />proceeds and refunds of premiums) from any sale or other dislocated of the Property.
<br />Property. The word "Property" means collectively Me 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 />Related Documents. The words "Routed 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, profile, and other benefits darived from the
<br />Property.
<br />Trustee. The word 'Trustee" means GENEVA STATE BANK, whose address Is P.O. Box 313, Geneva, NE 68361 and any substitute or
<br />successor trustaes.
<br />Trustor. The word "Trustor" means W. B. P. Partnership.
<br />
|