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D~ Cnn~t n ed)S7 "~' O O~ O V~ O O Page 6
<br />Severability. If a court of competent jurisdiction f(nds any provision of this Paed of Trust to be illegal, invalid, or unenfvrosabla 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 CannpY be so modified, it shall be considered deleted from this Deed of Trust. Unless ptherwiae required by law, the
<br />Illegality, invalidity, or unenforceabilhy of any provision of this Dead of Trust shalt not affect the legality, valfdlty or enforpeability of
<br />any other prevision of this Deed of Trust.
<br />Successors and Assigns. Subject tv any limitations stated in this Daed of Trust on Transfer of Trusty's interest, this D¢ed 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 tp Trustor, may deal with Truator's successors with reference to this
<br />Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Trustor from the pbllgations of this Deed of
<br />Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of xhe essence in the performance of rhis Daad of Trust.
<br />Waive Jury, qll par6as to this Dead of Trust hereby waive tf+e right to any jury trial In any action, proceeding, or counterclaim brought
<br />by any party against any other party.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives ell rights and benefits of xhe homesYOad axempdon laws of the
<br />State pf Nebraska as to all Indebtedness secured by this Peed of Trust.
<br />DEFINITIONS. The following capitalized words and terms obeli have xhe fallowing meanings when used in this Dodd of Trust. Unless
<br />5p¢Cifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States pf America.
<br />Wards and terms used in the singular shell include the plural, end the plural shall include the singular, as the context may require. Words
<br />and terms not otherwise defined in this Decd of Trust sheA have the meanings attributed to such terms in the Uniform Commercial Coda:
<br />eenafioiary. The word "Beneficiary" means Exchange Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means TRACY L JACOB5EN and includes all co-signers and co-makers signing The Note and alt their
<br />successors and assigns.
<br />Dead of Trust. The words "Dead of Trust" mean this Deed of Trust among TYUSYpr, Lender, and Trustee, and includes without
<br />limitation all assignment and security interest provisions relating tv the Pysvnal Property and Rents.
<br />Defauh. Tha word "Default means the Default set forth in this Dead of Trust in the section titled "Default".
<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, h2 U.S.C. Section 8601, et seq. ("CERCLA"), the Supcrfund
<br />Amendments and Reauthorization Aot of 1986, Pub. L. No. 9999 ("SARA"}, the Hazardous Materials Transportation Act, a9 U.S.C.
<br />Section 1$01, 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 />Covent of Defauh. The words "Event of Default" mean any of the events of default Sat forth in this Deed of Trust in the events of
<br />default section of this Dead of Trust.
<br />Guaranty. Tha word "Guaranty" means the guaranty frgm guarantor, endorser, surety, or accommpdatign party to Lender, including
<br />without limitation a guaranty of ell or part of the Note.
<br />Hazardous Substances. Tha words "Hazardpus Substances" mean materials that, because of their quantity, concentration or
<br />physical, chemical or infectious charayeristics, may cause or pose a present or potential hazard to human health or the anvirpnmant
<br />when ImprppeNy used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. Tha words
<br />"Hazardous Substances" era used in their very broadest sense and invluda without Ilmitation any and all hazardous or toxic
<br />substances, materials or waste as defined by or listed under the Environmental LaWB. Tha term "Hazardous Substances" also
<br />includes, without gmitation, petroleum and petroleum by-products or any fraction thereof and asbestos.
<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 apnatruptipn on the Real Property.
<br />indobtednoss. The word "Indebtedness" means all principal, interest, and Dther amounts, costa and expanses 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 pocuments and any amounts expended or advanced by Lender to discharge TYUSYgr'S obligations or expenses invurred by
<br />Trusxea or Lander to enforce Trusto's obllgatlona under this Daad of Trust, together with interest on suvh amounts as provided in this
<br />Decd of Trust. Specifically, without limitation, indebtedness includes the future advances set forth in the Future Advances provision,
<br />together with all interest thereon and all amounts that may be indir¢CLIy secured by the Cross-Goilaterelization provision of this Peed
<br />of Trust.
<br />L¢nd¢r, The word "Lander" means Exchange Bank, its successors and assigns.
<br />Nate. The word "Note" means the promissory note dated July 22, 2009, in Yha original principal amount of $52,500.00
<br />from Truster to Lender, together with all renewals of, extensions of, modifications of, refinancings of, ppnsolidations of, and
<br />substitudons for the promissory note ar agreement. NOTICE TO TRUSTOR: THE NOTE CONTAINS A VARWBLE INTEREST RATE.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles pf personal property now or
<br />hereafter owned by Trustor, and now or hereafter attached or afFixed to the Roal Property; together with ell accesslans, parts, and
<br />additions to, all replacements of, and alt substitutions for, any of such property; and together with all proceeds lincluding without
<br />limitation all insuranc® pmneeds and refunds of premiums) from any sale or ether disposition pf the Property.
<br />Property. The word "Property" moans collectively the Real Property and the Personal Property.
<br />Heal Property. The words "Real Property" mean the real property, interests and rights, as further described in this Deed of Trust.
<br />Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, Ipan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other
<br />instruments, agreements and documents, whether now ar hereafter existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rants" means all present and future rams, revenues, income, issues, royalties, profits, and other benefits derived
<br />from the Property.
<br />Trustee. Tha word "Trustee" means Exohange Bank, whose address is P.O. Box 760, Gibbon, NE 68840 and any substitute or
<br />successartrustees.
<br />Trustor. Tha word "Trustor" moans TRACY L JACOB5EN.
<br />TRUS70R ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS tlEEO OF TRUST, AND TRUSTOR AGREES TO ITS TERM5.
<br />TRUSTOR:
<br />X "`
<br />TRACY L JACO$St:
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