|
<br />loan No: 4007402
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200605850
<br />
<br />Page 7
<br />
<br />not preempted by federal law. the laws of the State of Missouri without regard to its conflicts of law provisions. However. if there
<br />ever is a question about whether any provision of this Deed of Trust is valid or enforceable. the provision that is questioned will be
<br />governed by whichever state or federal law would find the provision to be valid and enforceable. The loan transaction that is
<br />evidenced by the Credit Agreement and this Deed of Trust has been applied for. considered. approved and made, and all necessary
<br />loan documents have been accepted by Lender in the State of Missouri.
<br />
<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon lender's request to submit to the jurisdiction of the courts of Boone
<br />County. State of Missouri.
<br />
<br />No Waiver by Lender. Trustor understands lender will not give up any of lender's rights under this Deed of Trust unless lender does
<br />so in writing. The fact that lender delays or omits to exercise any right will not mean that lender has given up that right. If lender
<br />does agree in writing to give up one of lender's rights, that does not mean Trustor will not have to comply with the other provisions
<br />of this Deed of Trust. Trustor also understands that if Lender does consent to a request, that does not mean that Trustor will not
<br />have to get lender's consent again if the situation happens again. Trustor further understands that just because lender consents to
<br />one or more of Trustor's requests, that does not mean Lender will be required to consent to any of Trustor's future requests. Trustor
<br />waives presentment. demand for payment, protest, and notice of dishonor.
<br />
<br />Severability. If a court finds that any provision of this Deed of Trust is not valid or should not be enforced, that fact by itself will not
<br />mean that the rest of this Deed of Trust will not be valid or enforced. Therefore, a court will enforce the rest of the provisions of this
<br />Deed of Trust even if a provision of this Deed of Trust may be found to be invalid or unenforceable.
<br />
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor'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 Trustor's successors with reference to this
<br />Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of
<br />Trust or liability under the Indebtedness.
<br />
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />
<br />Waiver of Homestead Exemption. Trustor 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 Deed of Trust.
<br />
<br />DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust:
<br />
<br />Beneficiary. The word "Beneficiary" means Shelter Financial Bank, and its successors and assigns.
<br />
<br />Borrower. The word "Borrower" means Raymond L Klein and includes all co-signers and co-makers signing the Credit Agreement and
<br />all their successors and assigns.
<br />
<br />Credit Agreement. The words "Credit Agreement" mean the credit fJgreement dated June 22, 2006. with credit limit of
<br />$10.000.00 from Trustor to Lender. together with all renewals of, extensions of, modifications of. refinancings of, consolidations
<br />of, and substitutions for the promissory note or agreement. The maturity date of this Deed of Trust is July 5, 2021. NOTICE TO
<br />TRUSTOR: THE CREDIT AGREEMENT CONTAINS A VARIABLE INTEREST RATE.
<br />
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender. and Trustee, and includes without
<br />limitation all assignment and security interest provisions relating to the Personal Property and Rents.
<br />
<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, et seq. ("CERCLA"), the Superfund
<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. et seq., the Resource Conservation and Recovery Act. 42 U.S.C. Section 6901, et seq., or other applicable state or
<br />federal laws, rules, or regulations adopted pursuant thereto.
<br />
<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 Trust.
<br />
<br />Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens provision of this
<br />Deed of Trust.
<br />
<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 />
<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 construction on the Real Property.
<br />
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the
<br />Credit Agreement or Related Documents, together with all renewals of, extensions of, modifications of. consolidations of and
<br />substitutions for the Credit Agreement or Related Documents and any amounts expended or advanced by Lender to discharge
<br />Trustor's obligations or expenses incurred by Trustee or Lender to enforce Trustor's obligations under this Deed of Trust, together
<br />with interest on such amounts as provided in this Deed of Trust.
<br />
<br />Lender. The word "Lender" means Shelter Financial Bank, its successors and assigns. The words "successors or assigns" mean any
<br />person or company that acquires any interest in the Credit Agreement.
<br />
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures. and other articles of personal property now or
<br />
|