|
<br />200707681
<br />
<br />Loan No: 807399
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />Page 6
<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 as1signs. If ownership of the Property becomes
<br />vested in a person other than Trustor, Lender. without notice to Trustor. may deal wi h Trustor's successors with reference to this
<br />Deed of Trust and the Indebtedness by way of forbearance or extension without releasi g 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 Trus .
<br />
<br />Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury trial in ny action. proceeding, or counterclaim brought
<br />by any party against any other party.
<br />
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and be efits 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 Equitable Bank, and its successors and assigns.
<br />
<br />Borrower. The word "Borrower" means MICHAEL W ROCKFORD and CHRISTINA E ROCKFORD and includes all co-signers and
<br />co-makers signing the Note and all their successors and assigns.
<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 1 980, as amended, 42 U.S.C. Section 9601. et seq. ("CERCLA"). the Superfund
<br />Amendments and Reauthorization Act of 1 986, 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 />I
<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. I
<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 potenE'al hazard to human health or the environment
<br />when improperly used, treated, stored, disposed of, generated, manufactured, tra sported or otherwise handled, The words
<br />"Hazardous Substances" are used in their very broadest sense and include witho t limitation any and all hazardous or toxic
<br />substances, materials or waste as defined by or listed under the Environmental La s. The term "Hazardous Substances" also
<br />includes, without limitation, petroleum and petroleum by-products or any fraction thereolf 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 Note
<br />ur 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 Trustor's obligations under this Deed of Trust, together with interest on such amounts as provided in this
<br />Deed of Trust.
<br />
<br />Lender. The word "Lender" means Equitable Bank. its successors and assigns. The words "successors or assigns" mean any person
<br />or company that acquires any interest in the Note.
<br />
<br />Note. The word "Note" means the promissory note dated August 30, 2007, in the original principal amount of $5,485.50
<br />from Trustor to Lender, together with all renewals of, extensions of, modifications of. refinancings of. consolidations of, and
<br />substitutions for the promissory note or agreement. The maturity date of this Deed of Trust is September 3, 2017.
<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 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 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 />Real Property. The words "Real Property" mean the real property. interests and rights, ~s further described in this Deed of Trust.
<br />
<br />Related Documents. The words "Related Documents" mean all promissory notes, credfJt agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, securit deeds, collateral mortgages, and all other
<br />instruments, agreements and documents. whether now or hereafter existing, executed i connection with the Indebtedness.
<br />
<br />Rents. The word "Rents" means all present and future rents, revenues, income. issue, royalties, profits, and other benefits derived
<br />from the Property.
<br />
<br />Trustee. The word "Trustee" means Equitable Bank (Grand Island Region), whose a~dress is 113-115 N Locust St; PO Box 160,
<br />Grand Island, NE 688020160 and any substitute or successor trustees.
<br />I
<br />Trustor. The word "Trustor" means MICHAEL W ROCKFORD and CHRISTINA E ROCKFORD.
<br />I
<br />EACH TRUSTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND EACH TRUSTOR AGREES TO
<br />ITS TERMS.
<br />
<br />TRUSTOR:
<br />
<br />X eIw~~-4 I ,~ '
<br />CHRISTINA E ROCKFORD~
<br />
<br />12-<-~~
<br />~~
<br />
<br />X"i"\jL~ ~ \ ')
<br />MICHAEL W RO ORD
<br />
<br />...,
<br />
<br />, ,
<br />
|