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<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200809863
<br />
<br />Page 5
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<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 change 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.
<br />
<br />Merger. Thera 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 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 />Stata of Nebraska.
<br />
<br />Joint and Several liability. All obligations of Trustor under this Deed of Trust shall be joint and several, and all references to Trustor
<br />shall mean each and every Trustor. This means that each Trustor signing below is responsible for all obligations in this Deed of Trust.
<br />
<br />No Waiver by Lender. Trustor understands Lender will not give up any of Lender'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 consent to a request, that does not mean that Trustor will not
<br />have to get Lender'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 requests. Trustor
<br />waives presentment, demand for payment, protest, and notice of dishonor.
<br />
<br />Sevarabillty. If a court finds that any provision of this Deed of Trust is not valid or should not ba enforced, that fact by itsalf 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 evan 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 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.
<br />
<br />Time Is of the Essence. Time is of the essence in the performance of this Deed.of Trust. .~._.., ','
<br />
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all right8,~ebe'tl~ 'Jf!~~mestead exerption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Deed of Trust. i ~n'Ii';'I2. JJ)t ~Yr:" v, .
<br />l'i;;S . .~. m? ., ,.. ..."
<br />DEFINITIONS. The following words shall have the following meanings when used i,lll"" B~~~ u~ Trust: . '_.J
<br />
<br />Beneficiary. The word "Beneficiary" means Platte Valley State Bank & Trust Company, and its successors and assigns.
<br />
<br />Borrower. The word "Borrower" means David W. Gallion and Gloria R. Gallion and includes all co-signers and co-makers signing the
<br />Note and all their successors and assigns.
<br />
<br />Deed of TrU5t. 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 tha 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 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 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 />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 presant 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.
<br />
<br />Lender. The word "Lender" means Platte Valley State Bank & Trust Company, its successors and assigns. The words "successors or
<br />assigns" mean any person or company that acquires any interest in the Note.
<br />
<br />Note. The word "Note" means the promissory note dated November 26, 2008, in the original principal amount of
<br />$107,000.00 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.
<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 "Proparty" 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 />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 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.
<br />
<br />Trustor. The word "Trustor" means David W. Gallion and Gloria R. Gallion.
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