200206420 - Laserfiche WebLink

Browse

DEED OF TRUST 200206420 Loan No: 774249 (Continued) Page 8 references to Truster shall m n n e each and every Truster, and all references to Borrower shall m ash and every Borrower. This as that each Borrower antl Theater signing belaw is responsible for all obligations In this Deed of Trust. Where any nna or e of the parties Is orporation, partnership, limited liability company n similar entity, it Is not necessary for Lender to inquire into the powers of any of the officers, directors, partners, members. or other agents acting or purporting to act on the entity's behalf, and any obligations made or created in reliance upon the professed exercise of such powers shall be guaranteed under this Deed of Trust. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given In writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate de a waiver of such right or any other right A wriver by Lender of a provision of this Deed of Trust shall out prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lander, nor any course of dealing between Lender and Trustnr, shall constitute a waiver of any of Lender's rights or of any of Tremor 'a obligations as to any future transactions. Whenovcr the consent of Leader is required under this Deed of trust, do granting of such consent by Lender in any instance shall not constitute continuing consent to Subsequent Instances where such consent is required and In all cases such consent may be, granted or withheld in the sole discretion of Lender. Severability. If a curt of competent. jurisdiction finds any provision of this Deed of Trust to be Illegal, Invalid, or unenforceable as in any circumstance `that finding shall not make the ottending provision illegal, invalid, or unenforceable as to any other ci cumsOnec. If feasible, the ottending provision shall be considered modified so (hat it becomes legal, valid and enforceable. It the offending provision cannot be so modified, It shall be considered created from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceabillty of any provision of this Deed of Trust shall not affect the loge l try, validity or enforceability of any other provision of this Deed of Trust. Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trusmr's interest, this Deed of Trust shall he binding upon and in um to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested In a person other thanrTrustor. Lender, without notice to Truster, may deal with Trustor's successors with reference to this Deed at Trust and the Indebtedness by way of terbeurancc or extension without releasing Truster from the obligations of this Deed of Trust or liability under the Indebtedness. Time is of the Essence. Time is of rho essence in the performance of this Deed of Trust, Waiver of Homestead Exemption. Truster 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 cupilallzcd 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 Dead of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code Beneficiary. The word "Benetmeary" procard, Five Phoop Bank, and its successors and assigns. Borrower. The word "Borrower" means B C M INC and JOHN M CUNNINGHAM, and all other persons and entities signing the Note in whatever capacity. Deed of Trust. The word "Deed of Trust" mean this Deed of Trust among Truster, Lender, and Trustee, and Includes without limitation ell assignment and security interest provisions relating to the Personal 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 "Envirennrental I aws" mean any and all state, federal and local statutes, regulations and ordinances elatiny to the promotion of human health or the environment, Including without limitation the Comprcvirsave Environmental Response, Compensation, and Liability Act of 1950, as rendcd, 42 (LS. C. Section 8601, at seq. ( "CERCLA "h the Sapmfund Amendments and Heuutherization Arf of 1986, Pub. L. No. 99 -499 I "SARA"1, the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, at seq., the Resource Conservation and Recovery Act, 42 U.5.C. Section 6901, at seq., or other applicable state or federal laws, rules, or regulations adopted pursuant them, 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 Dead of Trust. Existing Indebtedness. The wards "Existing Indebtedness" mean the indebtedness described in the Existing Liens provision of this Decd of Trust Guaranty. Thy word "Guaranty" means the guaranty from guamnom, endorser, surety, or accommodation party to Lender, Including without limitation a guaranty of all or part of the Nate. Hazardous Substances. The words "Hazardous SLivurness' paran materials that, because of Nair quantity, concentration o physical, chemical or infectious characteristics, may cause or pose o 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 it their vary broadest sense and include without limitation any and all hatardame or toxic subsiunucs, materials or aste 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 word "Improvements "mans all existing and future improvements, buildings, structures, mobile homes affixed on the Real Property, facilities, additions, replacem m ents and other construction on the heal Property. Indebtedness. The ward "Indebtedness" means all principal, Interest, and ether amounts, casts 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 Theater's Obligations Or expenses Incurred by Trustee or Lender to enforce Truster's obligations under this Decd of Trust, together with interest on such amounts as provided In this Deed of Trust.