200305591 - Laserfiche WebLink

Browse

DEED OF TRUST Loan No: 777482 200305591 (Continued) Page 7 even If a provision of this Dead of Trust may be found to be invalid or unenforceable. Successors and Assigns. Subject to any limitations stated in this Dead of Trust on transfer of Trustor's interest, this Deed of Trust shell 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 Trustor, Lender, without notice to Trustor, may deal with Trustor's successors with reference to this Dead of Trust and the Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of Trust or liability under the Indebtedness. Time is of toe 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 Dead of Trust. DEFINITIONS. The following words shall have the following meanings when used in this Dead of Trust: Beneficiary. The word "Beneficlary' means Five Points Bank, and it successors and assigns. Borrower. The word Borrower means WILLIAM R EADS and CYNTHIA D EADS, and all other persons and entities signing the Note. Deed of Trust. The words Manx! 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. 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 1960, as amended, 42 U.S.C. Section 9601, at seq. ("CERCLA"), the Superfund Amendments and Rseuthonuation Act of 1966, 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 taws, 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 the events of default section of this Deed of Trust. Guaranty. The word "Guaranty means the guaranty from guarantor, endorser, surety, or axommodetion party to Lender, Including without limitation a guaranty of all or pert of the Nots. 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 serge 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 ward "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the Real Property, facilities, additions, replacement and other construction on the Real Properly. Indebtedness. The word "Indebtedness" means all principal, interest, and other amount, 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 amount expended or advanced by Lender to discharge Trustor's obligations or expenses Incurred by Trustee or Lender to enforce Trustor's obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust. Lender. The word "Lender" means Five Points Bank, its successors and assigns. The words "successors or assigns' mean any person or company that acquires any interest in the Note. Note. The word "Note" means the promissory note dated April 30, 2003, In the original principal amount of $128,000.00 from Trustor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutimrs for the promissory note or agreement. The maturity date of this Deed of Trust Is October 30, 2003. Personal Property. The words 'Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Trustor, and now or hereafter attached or attract to the Real Property; together with all accessions, pads, and additions lo, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property. Property. The word "Property" means collectively the Real Property and the Personal Property. Real Property. The words "Real Property mean the real property, Interests and rights, as further described in this Dead of Trust. Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security agreements, mortgages, made 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 "Rent" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the Property. Trustee. The word Trustee" means Five Points Bank, whose address is P.O Box 1507, Grand Island, NE 66802 -1507 and any substitute or successor trustees. Trustor. The word "Trustor means WILLIAM R EADS and CYNTHIA D EADS.