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<br />Loan No: 0872056701
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<br />DEED OF TRUST
<br />( Continued)
<br />
<br />200800987
<br />
<br />Page 5
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<br />provided by law.
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<br />Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
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<br />POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this
<br />Deed of Trust:
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<br />Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to take the following
<br />actions with respect to the Property upon the written request of Lender and Trustor: (a) join in preparing and filing a map or plat of
<br />Ihe Relll Property, including the dediclltion of streets or other rights to the public; (b) join in gmnting any ellsemenl or creating any
<br />restriction on the Relll Property; and (c) join in any subordination or other agreement affecting this Deed of Trust or the interest of
<br />Lender under this Deed of Trust.
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<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set
<br />forth above, with respect to all or any part of the Property, the Trustee shall have the right to foreclose by notice and salp., and Lender
<br />will have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable
<br />law.
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<br />Successor Trustee. Lender, at Lender's option, may from time to tirne appoint a successor Trustee to any Trustee appointed under
<br />this Deed of Trust by an instrument executed Ilnd acknowledged by Lender and recorded in the office of the recorder of HALL County,
<br />State of Nebraska, The instrument shall contain, in addition to all other matters required by state law, the names of the original
<br />Lender, Trustee, and Trustor, the book and page (or computer system reference) where this Deed of Trust is recorded, and the name
<br />and address of the successor trustee, and the instrument shall be executed and acknowledged by all the beneficiaries under this Deed
<br />of Trust or their successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the tille,
<br />power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law, This procedure for substitution of Trustee
<br />shall govern to the exclusion of all other provisions for substitution.
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<br />NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and Ilny notice of
<br />sale shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise
<br />required by law), when deposited with a nationally recogni7ed overnight courier, or, if mailed, when deposited in the United States mail, as
<br />first class, certified or registered mail postage prepaid, directed to the addresses shown nellr the beginning of this Deed of Trust. All
<br />copies of notices of foreclosure from the holder of rmy lien which has priority over this Deed of Trust slHlII be sent to Lender's address, as
<br />shown near the beginning of this Deed of Trust. Any person may change his or her address for notices under this Deed of Trust by giving
<br />formal written notice to the othm person or persons, specifying that the purpose of the notice is to change the person's address. ror
<br />notice purposes, Trustor agrees to keep Lender informed at all times of Trustor's current address. Unless otherwise provided or required
<br />by law, if there is more than one Trustor, any notice given by Lender to any Trustor is deemed to be notice given to all Trustors. It will be
<br />Trustor's responsibility to tell the others of the notice from Lender.
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<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />
<br />Amendments. What is written in this Deed of Trust and in the Related Documents is Trustor's entire agreement with Lender
<br />concerning the matters covered by this Deed of Trust. To be effective, any change or amendment to this Deed of Trust must be in
<br />writing and must be signed by whoever will be bound or obligated by the chrlllge or amendment.
<br />
<br />Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or
<br />define the provisions of this Deed of TrusT.
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<br />Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the
<br />Property at any time hflld by or for the benefit of Lender in any cllpacity, without the written consent of Lender.
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<br />Governin9- Law. This Deed of Trust will be9011ernedbv.federallaw applicable to Lender and, to the extent not preempted by federal
<br />law, the laws of the State of Nebraskll without regard to Its conflicts of law provisions. This Deed of Trust has been accepted by
<br />lender in the State of Nebraska.
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<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of Hall County,
<br />State of Nebraska.
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<br />Joint and Several Liability. All obligations of Trustor under this Deed of Trust shall be joint IInd several, and 1111 references to Trustor
<br />shllll mean each rllld every Trustor. This means that each Trustor signing below is responsible for all obligations in this Deed of TrusT.
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<br />No Waiver by Lender, Trustor undmstands Lend!1r will not give up any of Lendm'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 consflnt to a request. tllllt does not mean that Trustor will not
<br />have to get Lendm'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 refluests. Trustor
<br />waives presentment, demand for payment, protest, and notice of dishonor.
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<br />Severability. If a court finds that any provision of this Deed of Trust is not valid or should not be !1nforced, 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.
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<br />Successors and Assigns. Subject to any limitations slated in this Deed of Trust on lransfm of Trustor's intfH!1St, 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.
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<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
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<br />Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury trial in any action. proceeding, or countorclaim brought
<br />by any party against any other party.
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<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.
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<br />DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust:
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<br />Beneficiary. The word" Beneficiary" means Equitable Bank, and its successors and assigns.
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<br />Borrower. The word "Borrower" means JAMES F THOMPSON .JR and JULIE A THOMPSON and includes all co.signers and co makers
<br />signing the Credit Agreement and all their successors and assigns.
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<br />Credit Agreement, The words "Credit Agreement" mean the credit agreement dated January 31, 2008, 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 January 31, 2013. 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 Trust!1e, 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 statut!1S, regulations and ordinances
<br />relating to the protection of human health or the environment, including without limitation the Comprehonsive Environmontal
<br />Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund
<br />Amendments and Roauthorization Act of 1986, Pub. 1.. No. 99499 (" SARA"), the Hazardous Materials Transportation Act, 49 U.S.C.
<br />Section 1801, et seq., the Resource Consmvation 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.
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