|
DEED OF TRUST 200208456
<br />Loan No: 774831 (Continued) Page
<br />shall be binding upon and inure to the benefit of the parties, their succusters and assigns. If ownership of the Property becomes
<br />vested in a person other than Trusts, Lander, without notice to Trusts, may deal with Trustor's successors with reference to this
<br />Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Truster from the obligations of this Dead of
<br />Trust or liability under the Indebtedness,
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waiver of Homestead Exemption. Toaster hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this peed of Trust.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless
<br />specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United Stales of America.
<br />Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words
<br />and terms nor otherwise 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 Five Points Bank, and its successors antl assigns.
<br />Borrower. The word "Borrower" moues STEVEN PATTERSON, KELLI PATTERSON and JUDITH D PATTERSON, and all other persons
<br />and entities signing the Note in whatever capacity.
<br />Deed of Trust. The words 'Dead of Trust" mean this Dead of Trust among Truster. Lender, and Trustee, and includes without
<br />limitation all assignment and security interest provisions relating to the Personal Property and Rents.
<br />Default. The word "Default" means the Default at forth in this Dead of Trust in the section titled "Default ".
<br />Environmental Lewis . 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
<br />Response, Compensation, and Liability Act of 1980, a ended, 42 U.S.C. Section 9601, at seq. 1 "CERCLA "), the Superfast
<br />Amendments and Reauthorization Act of 1986, Pub. L No. 99 -499 ("SARA "), the Hazardous Materials Transportation Act, 49 U.S.C.
<br />Section 1801, at seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, at seq., or other applicable state or
<br />federal laws, rules, or regulations adopted pursuant thereto.
<br />Event of Default. The words "Event of Default" mean any of the events of default act forth in this Deed of Trust in the events of
<br />distrait section of this Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or aomrnmodation party to Lander, including
<br />without limitation a guaranty of all or part of the Note.
<br />Hazardous Substances. The words "Hazardous Substances" materials that, because of their quantity, concentration or
<br />physical, chemical o infectious characteristics, may cause or pose a present or potential hazard to human health or the environment
<br />when improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words
<br />"Hazardous Substances are used in their very broadest s and include without limitation any and all hazardous or toxic
<br />substances, materials or waste as defined by or listed under the Environmental Laws. The term "Hazardous Substances" also
<br />includes, without limitation, petroleum and petroleum 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
<br />the Real Property, facilities, additions, replacements and other corefraction an the Real Property.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note
<br />or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note
<br />or Related Documents and any amounts expended or advanced by Lender to discharge Trustor's obligations or expenses incurred by
<br />Trustee or Lender to enforce Theater's obligations under this Deed of Trust, together with interest on such amounts as provided in this
<br />Deed of Trust.
<br />Lender. The word "Lender" means Five Points Bank, its successors and assigns.
<br />Note. The word "Nate means the promissory note dated August 10, 2002, in the original principal amount of
<br />$105,000.00 from Borrower to Lender, together with all renewals of, extensinns of, modifications of, refinancings of,
<br />.unsel don.ns nf, and substimtions for the promissory note or agreement. The maturity date of this Deed of Trust is May 9, 2003.
<br />Personal Property. The words "Personal Property" m all equipment, fixtures, and other articles of personal property n e or
<br />hereafter owned by Truster, and n m
<br />or hereafter attached o affixed to the Real Property; together with all accessions, parts, and
<br />additions to all replacements of, and all substitutions for, any of such property: and Ingather with all proceeds (including without
<br />limitation all insurance procnads and refunds of premiums) from any sale or other disposition of the Property.
<br />Properly. The word "Property" moans 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 Dead of Trust.
<br />Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, sciamerawlW1
<br />agreements, guaranties, security agrouonts, mortgages, s, deeds of trust, security deeds, collateral mortgages, and all other
<br />instruments, agreements and m
<br />documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means all present and future rants, revenues, income, issues, royalties, profits, and other benefits derived
<br />from the Property.
<br />Trustee. The word "Trustee" means Five Points Bank, whose address is P.0 Box 1507, Grand Island, NE 68802 -1507 and any
<br />substitute or successor trustees.
<br />Trader. The word "Tractor" means STEVEN PATTERSON and KELLI PATTERSON.
<br />
|