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<br />Loan No:'~!:h34
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<br />DEED OF TRUST
<br />( Continued)
<br />
<br />200900040
<br />
<br />Page 7
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<br />Severllbility. 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 legal, 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.
<br />
<br />Non-Liability of lender. The relationship between Trustor and Lender created by this Deed of Trust is strictly a debtor and creditor
<br />relationship and not fiduciary in nature, nor is the relationship to be construed as creating any partnership or joint venture between
<br />lender and Trustor, Trustor is exercising Trustor's own judgment with respect to Trustor's business. All information supplied to
<br />Lender is for lender's protection only and no other party is entitled to rely on such information. There is no duty for lender to review,
<br />inspect, supervise or inform Trustor of any matter with respect to Trustor's business, lender and Trustor intend that lender may
<br />reasonably rely on all information supplied by Trustor to Lender, together with all representations and warranties given by Trustor to
<br />Lender, without investigation or confirmation by lender and that any investigation or failure to investigate will not diminish lender's
<br />right to so rely.
<br />
<br />Sole Discretion of lender. Whenever Lender's consent or approval is required under this Deed of Trust, the decision as to whether or
<br />not to consent or approve shall be in the sole and exclusive discretion of Lender and lender's decision shall be final and conclusive.
<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 />Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury trial in any action, proceeding. or counterclllim brought
<br />by any party against any other party.
<br />
<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 The State Bank of lebo, and its successors and assigns.
<br />
<br />Borrower. The word "Borrower" means SHAFER COMMERCIAL PROPERTIES, L.l.C. and includes all co-signers and co-makers
<br />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 />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 end 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 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 individually, collectively, and interchangeably any of the events of default set
<br />forth in this Deed of Trust in the events of 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 />
<br />Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indebtedness, and, in
<br />each case. the successors, assigns, heirs, personal representatives, executors and administrators of any guarantor, surety, or
<br />accommodation party.
<br />
<br />Guaranty. The word "Guaranty" means the guaranty from Guarantor, or any other guarantor, endorser, surety, or accommodation
<br />party to lender, including 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 The State Bank of lebo, its successors and assigns.
<br />
<br />Note. The word "Note" means the promissory note dated December 15, 2008, in the original principal amount of
<br />$290,808.43 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 "Property" means collectively the Real Property and the Personal Property.
<br />
<br />Relll 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 />Rent~. 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 THE STATE BANK OF lEBO, whose address is PO BOX 46, lEBO, KS 66856 and any substitute
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