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DEED OF TRUST 2 0 0 9 0 7 2 51
<br />Loan No: $7057631 (COrltinu9d) Page 5
<br />provided by law.
<br />Rights of Trustee. Trustea shall have all of the rights and duties of Lender as set forth in this section.
<br />POWERS AND OBLIQATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this
<br />Deed of Trust:
<br />Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to take the following
<br />actions with respect to the Property upon the written request of Lander and Trustor: la1 join in preparing and filing a map yr plat of
<br />the Real Property, including the dedication of streets or other rights to the public; Ibj join in granting any easement or creating any
<br />restriction nn the Real Property; and (c) join in any subordination or other agreement affecting this Deed of Trust or the interest of
<br />Lender under this Deed of Trust.
<br />Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set
<br />forth above, with respect to ati or any part of the Property, the Trustee shall have the right to foreclose by notice and sale, and Lender
<br />will have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable
<br />law.
<br />Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee tq any Trustee appointed under
<br />this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recorder of Hall County,
<br />State of Nebraska. Tha instrument shall contain, in addition to all other matters required by state law, the names of the original
<br />Lender, Trustee, and Trustor; the book and page lo( computer system reference) where this Deed of Trust is recorded, and the Hama
<br />and address of the successor trustee; e'nd the ~instrurnent shall be executed and acknowledged by all the beneficiaries under this Deed
<br />of Trust or their successors in interest:. The successor trustee, without conveyance of the Property, shall succeed to all the title,
<br />power, and duties cdnferred' upon the Trustee in this Deed of Trust end by applicable law. This procedure for substitution of Trustee
<br />shall govern to the exclusion of all other provisions for substitution.
<br />NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and any notice of
<br />sale shall be given in writing, and shall be affective when actually delivered, when actually received by telefacsimile (unless otherwise
<br />required by lawl, 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 mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All
<br />copies of notices of foreclosure from the 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 person may change his ar her address for notices under this Deed of Trust by giving
<br />formal written notice to the other parson or persons, specifying that the purpose of the notice is to change the person's address. For
<br />notice purposes, Trustor agrees to keep Lender informed at all times of Trustor's current address. Unless otherwise provided or required
<br />by law, if there is more than one Trustor, any notice given by Lander to any Trustor is deemed to be notice given to all Trustors. It will be
<br />Trustor's responsibility to tell the others of the notice from Lender.
<br />MISCELLANEOUS PROVISIONS. The following miacelianeous provisions era a part of this bead of Trust:
<br />Amsndmer~ts. What is written in this Deed of Trust and in the Related Documents fa 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 yr amendment.
<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 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 />f3overrtk~ ,Law. This Dead of Trust will bs governed by federal law applicable to Lender and, to the extent not preempted by federal
<br />law, the Isws of the State of Nebrasks without regard to its conflicts of law proviskxts. Thh Dead of TrusR has been accepted by
<br />Lender in tfu State of Nebraska.
<br />Choice of Venw. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of Hall County,
<br />State of Nebraska.
<br />Joint and Several LlabNity. Ali 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 />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 />Severability. If a court finds that any provision of this Deed of Trust is not valid or should not be enforced, that fact by itself 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 />Dead of Trust even if a provision of this Deed of Trust may be found to be invalid or unenforceable.
<br />Successors and Assigns. Subject to any limitations stated in this Daed 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 />Dead 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 />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 Deed of Trust hereby waive the 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 ati 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 Equitable Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means Denny Joe Watkins and Boneita P. Watkins and includes all co-signers and co-makers signing
<br />the Credit Agreement and all their successors and assigns.
<br />Credit Agreement. The words "Credit Agreement" mean the credit agreement dated August 26, 2009, Wlth credit limit Of
<br />$$O,Q00.00 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. The maturity date of this Deed of Trust is August 26, 2014. NOTICE TO
<br />TRUSTOR: THE CREDIT AGREEMENT CONTAINS A VARIABLE INTEREST RATE.
<br />Daed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustea, and includes without
<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, 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"1, the Superfund
<br />Amendments and Reauthorization Act of 19$6, Pub. L. No. 99-499 ("SARA"1, the Hazardous Materials Transportation Act, 49 U.S.C.
<br />Section 1501, 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.
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