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<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200804257
<br />
<br />Page 6
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<br />Property at any time held by or for the benefit of lender in any capacity, without the written consent of lender.
<br />
<br />Governing law. This Deed of Trust will be governed by federal law applicable to lender and. to the extent not preempted by federal
<br />law. the laws of the State of Nebraska without regard to its conflicts of law provisions. This Deed of Trust has been accepted by
<br />Lender in the State of Nebraska.
<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 Hall County,
<br />State of Nebraska.
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<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given In
<br />writing and signed by lender. No delay or omission on the part of lender in exercising any right shall operate as a waiver of such
<br />right or any other right. A waiver by lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of lender's
<br />right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by
<br />lender, nor any course of dealing between lender and Trustor, shall constitute a waiver of any of lender's rights or of any of
<br />Trustor's obligations as to any future transactions. Whenever the consent of lender is required under this Deed of Trust, the granting
<br />of such consent by lender In any instance shall not constitute continuing consent to subsequent instances where such consent is
<br />required and in all cases such consent may be granted or withheld in the sole discretion of lender.
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<br />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to
<br />any circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If
<br />feasible, the offending provision shall be considered modified so that it becomes legel, 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.
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<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.
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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 />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 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 Platte Vallay State Bank & Trust Company, and its successors and assigns.
<br />
<br />Borrower. The word "Borrower" means T.C. Enck Builders, Inc. and includes all co-signers and co-makers signing the Note and all
<br />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 />Default. The word "Default" means the Default set forth in this Deed of Trust in the section titled "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 buman hflalth or the environn;lent, including.without limitation the Comprehensive Environmental
<br />Response; Compensation, and UobliltyAdof 1980;os amended, 42 LJ.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.
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<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.
<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 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 Trustor'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 Platte Valley State Bank & Trust Company, its successors and assigns.
<br />
<br />Note. The word "Note" means the promissory note dated May 6. 2008, in the original principal amount of $185.500.00
<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.
<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, as further described in this Deed of Trust.
<br />
<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, collateral mortgages, and all other
<br />irlstruments, 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 benefits derived
<br />from the Property.
<br />
<br />Trustee. The word "Trustee" means Platte Valley State Bank & Trust Company, whose address is 810 Allen Dr, Grand Island, NE
<br />68801 and any substitute or successor trustees.
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