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DIED OF TRUST Loran No: 249483 s, (Continued). 200308663 Page S dealing between Lender and Trust-)r, Shall constitute a wai :ar of r.ny of Lender's rights or of any of Trustor's obligations as to any future transactions. Whenevi -r the consent of L tender is rec;;:i,ed urder this Deed of Tn!st, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instance, r %,',.re :f.Urh ronscnt is required and in all cases such consent may be granted or withheld in the sole discreti,. i of Lerr:_�r. Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any circumstance, that find:ng shall not make the offending provision i legal, invalid, or unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified se that t becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect i:ie legality, v^lid!ty or enforceability of any other provision of this Deed of Trust. Successors and Assigns. Subject to any limitations stated in this Deed of Trust of 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 Truster's successors with reference to this Deed of Trust and the Indebtedness by viay of forbearance or extension Wthor.rt rel:�as rg Truster from the obligations of this Deed of Trust or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance of this Deed of T; ust. Waiver of Homestead Exemption. Truster hereby releases and wrives 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 capitalized 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 mean 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 :o such terms in the Uniform Commercial Code: Beneficiary. The word "Beneficiary" moans First Community Bank, a branch of First State Bank, and its succosscrs and assigns. Borrower. The word "Borrower" means D & W MANAGEMENT, INC., and all other parsons and entities signing the Note in whatever capacity. Deed of Trust. The words "Deed of Trust" mean this Dead of Trust among Truster, Lender, and Trustee, and includes without limitation all assignment and security interest provisions relating to the ' erscnal Property and Rents. Default. The word "Default" means the Default set forth in this Deed of Trust in the section titled "Default ". Environmental Laws. The words "Environmental Laws" mean ary 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 1980, as amended, 42 U.S.C. Section 9601, et seq. ( "CERCLA "), the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No. 99 -499 ( "SARA'), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Secticn 6901, et seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. Evert of Default. The words "Event cf Default" mean an,/ of the rivents of default set forth in this Deed of Trust in the events of default section of this Deed of Trust. Guarantor. 'The word "Guarantor" means any guara,itor, surety, or accommodation party of any or all of the Indebtedness. Guaranty. The word "Guaranty" means the guaranty from Guarantor to !_ender, 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, 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, tran�.ported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense 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 "Hazard ;us Substances" also ir.c!udes, without limitation, petroleum and petroleum by- products or any fraction thereof and asbestos. Improvements. The word "Improvements" means all existing and future improvements, buildings, structure.3, mobile homes affixed on the Real Property, facilities, additions, replacemeht3 and other constructor. on the 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 ruster's obligations under this Deed of Toast, together with interest on such amounts as provided in this Deed of Trust. Lender. The word "Lender" means First Communitj Bank, a branch of First State Bank, its successors and assigns. Note. The word "Note" means promissory rote dated June 30, 2003 in the original principal amount of $405,600.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. The maturity date of this Note is June 30, 2023. NOTICE TO TRUSTOR: THE NOTE CONTAINS A VARIABLE INTEREST RATE. Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Truster, and now or hereafter attached of affixed to the Real Property; together with all accessions, parts, and additions to, all replacement;, 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 Deed of Trust. Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security agreements; mortgages, deeds 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 "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the Propa n . Trustee. The word "Trustee" means FIRST AMERICAN TITLE INSURANCE COMPANY, whose address is 123 N. LOCUST, SUITE 201 C, GRAND ISLAND, NE 68801 and any substitute or successor trustees. Trustor. The word "Truster" means TRI -CITY PROPERTIES, LLC. TRUSTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUS D TRUST�G TO ITS TERMS.