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<br />200609333
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<br />Loan No: 87355
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />Page 7
<br />
<br />feasible, the offending provision shall be considered modified so that it becomes .Iegal, valid and enforceable. If the offending
<br />provision 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 Deed of Trust shall not affect the legality, validity or enforceability of
<br />any other provision of this Deed of Trust.
<br />
<br />Non-Liability of Lender. The relationship between Borrower and Trustor and Lender created by this Deed of Trust is strictly a debtor
<br />and creditor relationship and not fiduciary in nature, nor Is the relationship to be construed as creating any partnership or joint venture
<br />between Lender and Borrower and Trustor. Borrower and Trustor are exercising Borrower's and Trustor's own judgement with
<br />respect to Borrower's and Trustor's business. All information supplied to Lender is for Lender's protection only and no other party is
<br />en tilled to rely on such information. There is no duty for Lender to review, Inspect, supervise or inform Borrower and Trustor of any
<br />mailer with respect to Borrower's and Trusto~s business. Lender and Borrower and Trustor intend that Lender may reasonably rely
<br />on all information supplied by Borrower and Trustor to Lender, together with all representations and warranties given by Borrower and
<br />Trustor to Lender, without investigation or confirmation by Lender and that any investigation or failure to Investigate will not diminish
<br />Lende~s right to so rely.
<br />
<br />Sole Discretion of Lender. Whenever Lender's consent or approval is required under this Deed of Trust, the decision as to whether or
<br />not to consent or approve shall be in the sole and exclusive discretion of Lender and Lender's decision shall be final and conclusive.
<br />
<br />Successore end 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 Trusto~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 />Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury trial In any action, proceeding, or counterclaim brought
<br />by any party against any other party.
<br />
<br />Waiver of HomeSlead 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 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 Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code;
<br />
<br />Beneficiary. The word "Beneficiary" means The State Bank of Lebo, and its successors and assigns.
<br />
<br />Borrower. The word "Borrower" means SHAFER PROPERTIES, LLC.; and JOEL B SHAFER and includes all co-signers and
<br />co-makers signing the Note and all their successors and assigns.
<br />
<br />Daed 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 />Default. The word "Default" means the Default set forth in this Deed of Trust In the section tilled "Default".
<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 8901, 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 individually, collectively, and Interchangeably any of the events of default set
<br />forth in this Deed of Trust in the events of default section of this Deed of Trust.
<br />
<br />Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indebtedness, and, in
<br />each case, the successors, assigns, heirs, personal representatives, executors and administrators of any guarantor, surety, or
<br />accommodallon party.
<br />
<br />Gueranty. The word "Guaranty" means the 9uaranty from Guarantor, or any other guarantor, endorser, surety, or accommodation
<br />party to Lender, including without limitation a guaranty of all or part of the Note.
<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 IImitallon 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 />Improvement., The word "Improvements" mean. 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 />Indebtednass. 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 Trusto~s obligations under this Deed of Trust, together with interest on such amounts as provided in this
<br />Deed of Trust. Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances prOVision
<br />of this Deed of Trust. together with all interest thereon.
<br />
<br />Lender. The word "Lender" means The State Bank of Lebo, its successors and assigns.
<br />
<br />Note, The word "Note" meanS the promissory note dated October 17, 2006, in the original principal amount of
<br />$1,343,865.60 from Borrower to Lender, together with all renewals of, extensions of, modifications of, refinancings of,
<br />consolidations of, and substitutions for the promissory note or agreement
<br />
<br />Personal Property. The words .Personal Property" mean all equipment, fixtures, and other articles of personal property now or
<br />hereafter owned by Trustor, and now or hereafter attached or affixed to the Raal Property; together with all accessions, parts, and
<br />additions to, all replacements of, and all subslllutlons for, any of such property: and together with all proceeds (Including without
<br />limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property.
<br />
<br />Property. The word "Property" means collectively the Real Property and the Personal Property.
<br />
<br />Reel Property. The words "Real Property" mean tha real property, interests and rights, as further described in this Deed of Trust
<br />
<br />Related Dooumenlll. The words "Related 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
<br />instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />
<br />Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other baneflts derived
<br />from the Property.
<br />
<br />Trustee. The word "Trustee" means THE STATE BANK OF LEBO, whose address Is PO BOX 46, LEBO, KS 66856 and any substitute
<br />or succeSsor trustees.
<br />
<br />Trustor. The word "Trustor" means SHAFER PROPERTIES, L.L.C..
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