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2 00.2 0 3 6 8 5 DEED OF TRUST
<br />(Continued)
<br />Page 6
<br />Governing Law: This Dead of Trust will be governed by, construed and enforced in accordance with federal law and the laws of the
<br />State of Nebraska. This Deed of Trust has been accepted by Lender in the State of Nebraska
<br />No Waiver by Lander. Lender shall not be deemed to have waived any rights hander this Deed of Trust unless such waiver is given in
<br />writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or
<br />any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise
<br />to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of
<br />dealing between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustors obligations as to any future
<br />transactions. Whenever the consent of Lender is required wider this Deed of Trust, the granting of such consent by Lender in any instance
<br />shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be
<br />granted or withheld in the sole discretion of Lender.
<br />Severabiitty. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any
<br />circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible,
<br />the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so
<br />modified, it shall be considered deleted from this Deed of Trust Unless otherwise required by law, the illegality, invalidity, or unenforceabitdy
<br />of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other provision of this Deed of Trust
<br />Succors and Assigns. Subject to any limitations stated in this Deed of Toast on transfer of Trustors Interest, this Dead of Trust shall be
<br />binding upon and inure to the benefit of the parties, their successors essors and assigns. ff ownership of the Property becomes vested in a person
<br />other than Trustor, Lender, without notice to Trustor, may deal with Trustors successors with reference to this Deed of Trust and the
<br />Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of Trust or liability under the
<br />Indebtedness.
<br />Time Is of the Essen. Time is of the essence in the performance of this Deed of Trust
<br />Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury trial In any action, proceeding, or counterclaim
<br />brought by any party against any other party.
<br />Waiver of Homestead Exemption. Truster 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 Dead of Trust.
<br />DEFINITIONS. 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 the singular shall include the plural, and the plural shall inckide the singular, as the context may require. Words and terms not otherwise
<br />defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary' means First State Bank, and its successors and assigns.
<br />Borrower. The word 'Borrower' means Michael A. Nickman, and all other persons and entities signing the Note in whatever capacity.
<br />Deed of Trust. The words "Deed of Truer 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 "Defautr means the Default set forth in this Dead 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 to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response,
<br />Compensation, and Liability Act of 1980, 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'), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the
<br />Resource Conservation. and Recovery Act, 42 U.S.C. Section 6901, et 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 the events of default set forth in this Deed of Trust in the events of default
<br />section of this Deed of Trust.
<br />Existing Indebtedness. The words 'Existing Indebtedness' mean the indebtedness described in the Existing Liens provision of this Deed of
<br />Trust.
<br />Guaranty. The word 'Guaranty' means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, Including without
<br />limitation a guaranty of all or part of the 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 the environment when improperly
<br />used, 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- products or any fraction thereof and asbestos.
<br />Improvements. The word 'Improvements' means all existing and future improvements,- buildings, structures, mobile homes affixed on the
<br />Real Property, facilities, additions, replacements and other construction on the Real Property.
<br />Indebtedness. The word ' Indebtedness' means all principal, interest, and other amounts, costs and expenses payable under the 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 to discharge Trustors obligations or expenses incurred by Trustee or
<br />Lender to enforce Trustors obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.
<br />Lender. The word "Lender' means First State Bank, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated April 3, 2002, in the original principal amount of $317,000.00 from
<br />Trustor to 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 Property. 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 the 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 disposition of the Property.
<br />Property. The word "Property' means collectively the 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 "Related Documents' mean all promissory notes, credit agreements, khan 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, profits, and other benefits derived from the
<br />Property.
<br />Trustee. The word "Trustee" means First State Bank, whose address is PO Box 79, Gothenburg, NE 69138 and any substitute or successor
<br />trustees.
<br />Trustor. The word ' Trustor' means Michael A. NIckman.
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