|
<br />° ~ ~ ' ~ DEED OF TRUST
<br />(Continued) 20'~~0'~~ ~ Page 6
<br />shall have the right to foreclose dy judicial foreclosure, in either case in accordance with and to the full extent provided by applicable
<br />law.
<br />Successor Trustee. Lender, at L nder's option, may from time to time appoint a successor Trustee to any Trustee appointed under
<br />this Deed of Trust by an instrum nt executed and acknowledged by Lender and recorded in the office of the recorder of Hall County,
<br />State of Nebraska. The instrument shall contain, in addition to all other matters required by state law, the names of the original
<br />Lender, Trustee, and Trustor, then hook and page (or computer system reference) where this Deed of Trust is recorded, and the Hama
<br />and address of the successor trustee, and the instrument shall be executed and acknowledged by all the beneficiaries under this Deed
<br />of Trust or their successors in lrl~terest. T'he successor trustee, without conveyance of the Property, shall succeed to all the title,
<br />power, and duties conferred upon)I the Trustee in this Deed of Trust and by applicable law. This procedure fpr substitution of Trustee
<br />shall govern to the exclusion of al'I other provisions for substitution.
<br />NOTICES. Any notice required to be given under this Daed of Trust, including without limitation any notice of default and any notice of
<br />sale shall be given in writing, and s all be effeactive when actually delivered, when actually received by telefacsimile (unless otherwise
<br />required by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as
<br />first class, certified ar registered mai~ postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All
<br />copies of notices of foreclosure from he holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address, as
<br />shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Dead of Trust by giving formal
<br />written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Trustor
<br />agrees to keep Lender informed at all times of 'Trusto's current address. Unless otherwise provided or required by law, if there is more
<br />than one Trustor, any notice given by ;Lender to any Trustor is deemed to be notice given to all Trustors.
<br />MISCELLANEOUS PROVISIONS. The~follvwing miscellaneous provisions are a part of this Deed of Trust:
<br />Amendments. This Deed of Tru t, together with any Related Documents, constitutes the entire understanding and agreement of the
<br />parties as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Dead of Trust shall be effective unless
<br />given in writing and signed 6y the party or parties sought to be charged or bound by the alteration or amendment.
<br />Annual Reports. If the Property is used for purposes other than Trusto's residence, Trustor shall furnish to Lender, upon request, a
<br />certified statement of net operat g income received from the Property during Trusto's previous fiscal year in such form and detail as
<br />Lender shall require. "Net ope Iating income" shall mean all cash receipts from the Property less all cash expenditures made in
<br />connection with the operation of ?the Property.
<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 />Merger. There shall be no mar er 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 f r the benefit of Lender in any capacity, without the written consent of Lender.
<br />Governing Law. This Deed of T~ust 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 N~braska without regard to its conflicts of law provisions. This Deed of Trust has been accepted by
<br />Lender in the State of Nebraska:
<br />Choice of Venue. It there is a awsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of Buffalo
<br />County, State of Nebraska.
<br />Joint and Several Liability. All obligations of Borrower and Trustor under this Deed of Trust shall be joint and several, and all
<br />references to Trustor shall mea each and every Trustor, and all references to Borrower shall mean each and every Borrower. This
<br />means that each Trustor signing below is responsible for all obligations in this Deed of Trust. Where any one or more of the parties is
<br />a corporation, partnership, limite liability company or similar entity, it is not necessary for Lender to inquire into the powers of any of
<br />the officers, directors, partners, embers, or other agents acting or purporting to act on the entity's behalf, and any obligations made
<br />or created in reliance upon the p~ofessed exercise of such powers shall be guaranteed under this Deed of Trust.
<br />No Waiver 6y 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 waiv~r 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 deal~ng between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of
<br />Trusto'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 oo sent may be granted or withheld in the sole discretion of Lender.
<br />Severability. If a court of comp tent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to
<br />any circumstance, that finding s I all not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If
<br />feasible, the offending provisio In shall be considered modified so that it becomes legal, valid and enforceable. If the offending
<br />provision cannot be sa modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the
<br />illegality, invalidity, yr unenforcE~ability of any provision of this Daed of Trust shall not affect the legality, validity or enforceability of
<br />any other provision of this Deed ~f Trust.
<br />Successors and Assigns. SubjelCt to any limitations stated in this Deed of Trust on transfer of Trusto'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 T(Fustar, Lender, without notice tv Trustor, may deal with Trusty's successors with reterence to this
<br />Deed of Trust and the Indebted ass by way of forbearance or extension without releasing Trustor from the obligations of this Deed of
<br />Trust or liability under the Indeb edness.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waive Jury. All parties to this eed of Trust hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought
<br />by any party against any other p~rty.
<br />Waiver of Homestead Exsmptio Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Inde tedness secured by this Deed of Trust.
<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 reference, to dollar amounts shall mean amounts in lawful money of the United States of America.
<br />Words and terms used in the singula shall include the plural, and the plural shall include the singular, as the context may require. Words
<br />and terms not otherwise defined in t is Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means Exchange Bank, and its successors and assigns.
<br />Borrower. The word "Borrow r" mean:; Copperhead Properties, LLC; David D Terveen; and Lynn A Terveen and includes all
<br />co-signers and co-makers signin the Note and all their successors and assigns.
<br />Deed of Trust. The words "D ed of Trust" mean this Daed of Trust among Trustor, Lander, and Trustee, and includes without
<br />limitation all assignment and se urity interest provisions relating to the Personal Property and Rents.
<br />Default. The word "'Default"mans the Default set forth in this Deed of Trust in the section titled "Default".
<br />Environmental Laws. The word "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 A,ct of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund
<br />Amendments and Reauthorizati n Act of 1986, Pub. L. No. 99-499 ("SARA"1, the Hazardous Materials Transportation Act, 49 U.S.C.
<br />Section 1801, et seq., the Res urce Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., ar other applicable state or
<br />federal laws, rules, or regulations adopted pursuant thereto.
<br />Event of Default. The words "IEvent of Default" mean any of the events of default set forth in this Peed of Trust in the events of
<br />
|