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<br />Loan No: 9003
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<br />MORTGAGE
<br />(Continued)
<br />
<br />200706586
<br />
<br />Page 7
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<br />at any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
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<br />Successors and Assigns. Subject to any limitations stated in this Mortgage on transfer of Grantor's interest, this Mortgage shall be
<br />binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a
<br />person other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Mortgage and
<br />the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Mortgage or liability under
<br />the Indebtedness.
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<br />Time is of the Essence. Time is of the essence in the performance of this Mortgage.
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<br />Waive Jury. All parties to this Mortgage hereby waive the right to any jury trial in any action, proceeding. or counterclaim brought by
<br />any party against any other party.
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<br />Waiver of Homestead Exemption. Grantor 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 Mortgage.
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<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Mortgage. 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 Mortgage shall have the meanings attributed to such terms in the Uniform Commercial Code:
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<br />Borrower. The word "Borrower" means 4503 LLC and includes all co-signers and co-makers signing the Note and all their successors
<br />and assigns.
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<br />Default. The word "Default" means the Default set forth in this Mortgage in the section titled "Default".
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<br />Environmental Laws. The worcJs "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 Rec:overy Act, 42 U.S.C. Sec:tion 6901. et seq., or other applicable state or
<br />federal laws, rules, or regulations adopted pursuant thereto.
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<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Mortgage in the events of default
<br />section of this Mortgage.
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<br />Grantor. The word "Grantor" means 4503 LLC.
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<br />Guarantor. The word "Guarantor" means any guarantor, surety, or acc:ommodation party of any or all of the Indebtedness.
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<br />Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a guaranty of all or part of
<br />the Note.
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<br />Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or
<br />physic:al, chemical or infectious charac:teristics, 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 />substanc:es, 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.
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<br />Indebtedness. The word "Indel)tedness" 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 expencJed or advanced by Lender to discharge Grantor's obligations or expenses incurred by
<br />Lender to enforce Grantor's obligations under this Mortgage, together with interest on such amounts as provided in this Mortga~Je.
<br />Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provision, together with all
<br />interest thereon and all amounts that may be indirectly secured by the Cross.Collateralization provision of this Mortgage.
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<br />Lender. The word "Lender" means Commerce Bank, N.A., its successors and assigns.
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<br />Mortgage. The word "Mortgage" means this Mortgage between Grantor and Lender.
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<br />Note. The word "Note" means the promissory note dated July 30, 2007, in the original principal amount of $575,000.00
<br />from Grantor to Lender, together with all renewals of. extensions of, modifications of, refinancings of, c:onsolidations of. and
<br />substitutions for the promissory note or agreement.
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<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or
<br />hereafter owned by Grantor. 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 suc:h property; and together with all proceeds (including without
<br />limitation all insurance proc:eeds and refunds of premiums) from any sale or other disposition of the Property.
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<br />Property. The word "Property" means collectively the Real Property and the Personal Property.
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<br />Real Property. The words "Real Property" mean the real property, interests and rights, as further describod in this Mortgage.
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<br />Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
<br />agreements. guaranties, security agreements. mortgages, deeds of trust, security deeds, c:ollateral mortgages, and all other
<br />instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness.
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<br />Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits. and other benefits derived
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