|
DEED OF TRUST 20021341 i
<br />Loan No: 34622 (Continued) Page 6
<br />person or circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other person or
<br />circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the
<br />offending prevision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the
<br />illegality, invalidity, or unenforceability of any provision of this Dead of Trust shall not elect the legality, validity or enforceability of any other
<br />provision of this Dead of Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Dead of Trust on transfer of Trusters interest, this Deed of Trust shall be
<br />binding upon and more to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person
<br />other than Truster, Lender, without notice to Truster, may deal with Trustor's successors with reference to this Deed of Trust and the
<br />Indebtedness by way of forbearance or extension without releasing Truster from the obligations of this Deed of Trust or liability under the
<br />Indebtedness.
<br />Time Is of the Essence. Time is of the essence in the performance of this Dead of Trust.
<br />Waiver of Homestead Exemption. Trustor hereby releases antl 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 include the singular, as the context may require. Words and tennis not otherwise
<br />defined in this Dead of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary ' means Bank of Clarks, and its successors and assigns.
<br />Borrower. The word "Borrower" means Jeff A. Greenwalt and Lois A. Greenwalt, and all other persons and entities signing the Note in
<br />whatever capacity.
<br />Dead of Trust. The words 'Deed of Trust" mean this Dead of Trust among Truster, 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 "Default" means the Default set forth in this Deed 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. ( "CERCIA "), 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, at seq., the
<br />Resource Conservation and Recovery Act, 42 U.S.C. Section 69D1, at 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 Dead of Trust in the events of default
<br />section of this Deed of 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, stared, disposed of, generated, manufactured, transported or otherwise handle. 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 petraleum
<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 Tmstor's obligations or expenses incurred by Trustee or
<br />Lender to enforce Trustor's obligations under this Deed of Trust, together with interest on such amounts as provided in this Dead of Trust.
<br />Lender. The word "Lender" means Bank of Clarks, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated November 25, 2002, In the original Principal amount of $601000.00
<br />from Truster to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for
<br />the promissory note or agreement. The maturity date of this Dead of Trust is February 5, 2003.
<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 sectors 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 "Relatetl Documents" mean all promissory notes, credit agreements, loan 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 Bank of Clarks, whose address is 301 N. Green, P.O. Box 125, Clarks, NE 68628 and any substitute or
<br />successor trustees.
<br />Trustor. The word 'Trustor' means Jeff A. Greenwalt and Lois A. Greenwalt.
<br />EACH TRUSTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND EACH TRUSTOR AGREES TO
<br />ITS TERMS.
<br />TRUSTOR:
<br />q0trIN. Greenwalt, Individually
<br />X Xtihl . a
<br />Lois A. Greenwalt, Individually
<br />
|