|
Loan No: 775620
<br />DEED OF TRUST
<br />200213 595 [Continued)
<br />Page 8
<br />any momonotence, that finding shall not make the offending provision Illegal, invalid, or unenforceable as to any other circumstance. It
<br />feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending
<br />provision cannot be so modified It shall be c nsidared deleted from this Decd of Trust. Unless otherwise required by law, the
<br />Regality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of
<br />any other provision of this Dead of Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Tructor's interest, this Deed of Trust
<br />shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes
<br />vested in a person other than Trustor, Lender, without notice to Trustor, may deal with Traitor's successors with reference to this
<br />Decd of Trust and the Indebtedness by way of forbearance or extension without releasing Trustor 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. Trustor herehy releases and waives all rights and benefits of the homestead exemption laws of he
<br />State of Nebraska as to all Indebtedness secured by this Deed 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 States 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 not otherwise defined in this Decd of Trust shall have rho meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means Five Points Bank, and Its successors and assigns
<br />Borrower. The word' Borrower' means GARY D SMITH, and all other persons and entities signing the Note in whatever capacity
<br />Deed of Trust. the words "Deed of Trust" mean this Deed 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 "Doemla" 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
<br />Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, at seq. 1 "CERCLA "I, the Superfund
<br />Amendments and Reauthorization Act of 1986, Pub. L. No. 99 -499 1 "SARA "L the Hazardous Materials Transportation Act, 49 U.S.C.
<br />Scotian 1801, al set -, the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, at sec -, 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 set forth in this Deed of Trust in the events of
<br />default section of this Deed of True,.
<br />Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens provision of this
<br />Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including
<br />without 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
<br />physical, chemical or 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 sense 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, holdings, structures, mobile homes affixed on
<br />the Real Property, faculties', additions, replacements and other construction on the Real Property.
<br />Indebtedness. The word "Indebtetlness" 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 Truster's obligations or expenses incurred by
<br />Trustee or Lender to enforce Trustur's obligations under this Dead of Trust, together with interest on such amounts ac provided In this
<br />Deed of Trust.
<br />Lender. The word "Lender" means Five Points Bank, Its successors and assigns.
<br />Note. The word "Note" means the promissory note dated December 2, 2002, in the original principal amount of
<br />$65,045.50 from Trustor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidation.
<br />Of, and substitutions for the promissory note or agreement. The maturity date of this Deed of Trust Is 11-01 2022.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal properly now or
<br />hereafter owned by Theater, and now or hereafter attached or 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 together with all proceeds (including without
<br />limitation all insurance proceeds and refunds of premiumel from any sale or other disposition of the Property.
<br />Property. The word "Property" means collectively the Heal 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 ' all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, m
<br />deeds of trust. security deeds, collateral mortgages, and all other
<br />instruments, agreements and Documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />
|