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DEED OF TRUST 2 0 0 9 0 5 2 0 5
<br />Loan No: 129238 (Continued) Page 3
<br />either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may
<br />determine, at public auction to the highest bidder for cash in lawful money of the United States payable at the time of sale.
<br />Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds conveying the property so
<br />sold, but without any covenant or warranty, express or Implied. The recitals In such deed of any matters or fac#s shall be
<br />conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee, or Lender, may
<br />purchase at such sale.
<br />(b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, Including costs of
<br />evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of (i) all sums expended under
<br />the terms of this Deed of Trust or under the terms of the Note not then repaid, including but not limited to accrued interest
<br />and late charges, (II) all other sums then secured hereby, and (iii) the remainder, if any, to the person or persons legally
<br />entitled thereto.
<br />(c) Trustee may In the manner provided by law postpone sale of all or any portion of the Property.
<br />Remedies Nvt ExGuelve. Trustee and Lender, and each of them, shall be entitled to enforce payment and performance of any
<br />Indebtedness or obligations secured by this Dead of Trust and to exercise all rights and powers under this Deed of Trust, under the
<br />Note, under any of the Related Documents, or under any other agreement or any laws now or hereafter in fvroe; notwithstanding,
<br />some or all of such indebtedness and obligations secured by this Deed of Trust may now or hereafter be otherwise secured, whether
<br />by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed pf Trust nor its enforcement,
<br />whether by court action or pursuant to the power of sale or other powers contained In this Deed of Trust, shall prejudice or In any
<br />manner affect Trustee's or Lenders rtght to realize upon or enforce any other security now or hereafter held by Trustee yr Lender, it
<br />being agreed that Trustee and Lender, and each of them, shall be entitled to enfon~ this Deed of Trust and any ether security now or
<br />hereafter held 6y Lender or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No
<br />remedy conferred upon or reserved to Trustee or Lender, is Intended tv be exclusive of any other remedy In this Deed of Trust or 6y
<br />law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given in this Deed of Trust or
<br />now pr hereafter existing at law or in equity or by statute. Every power or remedy given by the Note yr any of the Related Documents
<br />to Trustee or Lender or to which either of them may be otherwise entitled, may be exercised, concurrently or independently, from time
<br />to time and as often as may be deemed expedient by Trustee or Lender, and either of them may pursue inconsistent remedies.
<br />Nothing in this Deed of Trust shall be construed as prohibiting Lender from seeking a deficiency judgment against the Trustor to the
<br />extent such action is permitted by law.
<br />Election of Remedies. All of Lenders rights and remedies will be cumulative and may be exercised alone or together. If Lender
<br />derides tv spend money or to perform any of Trusbors obligations under this Deed of Trust, after Trustors failure to do so, that
<br />decision by Lender will not affect Lenders right to declare Truster in default and to.exeroise Lenders remedies.
<br />Request for Notice. Truster, on behalf of Truster and Lender, hereby requests that a copy of any Notice of Default and a copy of any
<br />Notice of Sale under this Deed of Trust 6e mailed to them at the addresses set forth in the first paragraph of this Deed of Trust.
<br />Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be
<br />entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any
<br />court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender Incurs that in Lenders opinion era
<br />necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable
<br />on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph
<br />Include, without Iimitatlon, however subject to any limits under applicable law, Lenders attorneys' fees and Lenders legal expenses,
<br />whether or not there is a lawsuit, Including attorneys' fees and expenses for bankruptcy proceedings (incuding efforts to modify or
<br />vacate any automatic stay or Injunction), appeals, and any anticipated postyudgment collection services, the cast of searching
<br />records, obtaining title reports (including foreGosure reports), surveyors' reports, and appraisal fees, title insurance, and fees for the
<br />Trustee, to the extent permitted by applicable law. Trustor also will pay any court costs, in addition to all other sums provided by
<br />law.
<br />MIBCELLANEOUB PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />Governing Law. This Deed of Trust will be governed by federal law applicable to Lender and, to the extent not proempted by federal
<br />law, the laws of the State of Nebraska without regard to Its conflicts of law provislona. This Dead of Trust has bean accepted by
<br />Lender in the State of Nebraska.
<br />Time Is of the Essence. Time is of the essence In the performance of this Deed of Trust.
<br />Wslver of Homestead Exemption. TI'ustor 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 />DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust:
<br />Beneficiary. The word "Beneficiary" means Geneva State Bank, and its successors and assigns.
<br />Borrower. The word "borrower' means Michael McGahan and Trecy McGahan and Includes all cosigners and co-makers signing the
<br />Note and all their successors and assigns.
<br />Deed of Trust. The words "Dead of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and Includes withnut
<br />limitation all assignment and security Interest provisions relating to the Personal Property and Rents.
<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federel and local statutes, regulations and ordinances
<br />relating to the protection of human health or the environment, Incuding without Ilmltatlon 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 1988, Pub. L. No. 99~L99 ("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 8901, et seq., or other applicable state ar
<br />federal laws, rules, or regulations adopted pursuant thereto.
<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 Dead of Trust.
<br />Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens provision of this
<br />Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation early to Lender, including
<br />without Ilmltatlon a guaranty of all or part of the Note.
<br />Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed an
<br />the Real Property, facilities, additions, replacements and other construction on the Real Property.
<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 Trustors obligations or expenses Incurred by
<br />Trustee or Lender to enforce Trustors obligations under this Daed of Trust, together with Interest on such amounts as provided in this
<br />Deed of Trust.
<br />Lender. The word "Lender" means Geneva State Benk, Its successors and assigns. The words "successors or assigns" mean any
<br />person or company that acquires any interest in the Note.
<br />Note. The ward "Note" means the promissory note dated June 1t3, 2009, in the original principal amount of $49,600.00
<br />from Trustor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and
<br />substitutions for the promissory Hate ar agreement.
<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
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