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DEED OF TRUST 2 Q Q y Q$ s 14
<br />Loan No: 809911 Continued) Rage. ~
<br />peed pf Trust and the Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed pf
<br />Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this peed 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 ExempUojr. 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 />DEFINITIONS. The following capitalized words and terms shell 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 />Beneficiary. The word "geneficiary" means Equitable Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means Ken-Ray, L.L.C. and includes all co-signers and co-makers signing the Note and all their
<br />successors and assigns.
<br />Deed of Trust. The wards "Deed of Trust" mean this heed 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 />Default. The ward "Default" means the Default set forth in this peed 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 limitatipn 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 1986, 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 />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 Deed of Trust.
<br />Guarantor. The ward "Guarantbr" means any guarantor, surety, or accommodation party of any or all of the Indebtedness.
<br />Guaranty. The ward "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a guaranty of all or part of
<br />the Note.
<br />Hazardous Substances. The ,wards "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 />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 />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 af, modifications of, consolidations of and substitutions for the Note
<br />or Related Documents and anyi amounts expended or advanced by Lender to discharge Trustar's obligations ar 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 />pf this Deed of Trust, together with all interest thereon.
<br />Lender. The word "Lender" means Equitable Bank, its successors and assigns.
<br />Npte. The word "Note" mans the promissory note dated October 28, 2009, In the original principal amOUnt of
<br />$1,180,000.00 from Trustor to Lender, together with all renewals of, extensions of, modifications of, refinancings of,
<br />consolidations of, and substitutions for the promissory note or agreement. The maturity date of this peed of Trust is November 1,
<br />2p19. NOTICE t0 TRUSTOR: 'THE NOTE CONTAINS A VARIABLE INTEREST RATE.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or
<br />hereafter awned by Trustor, ar"~d 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 />limitatipn all insurance proceeds and refunds of premiumsi from any sale or other disposition of the Property.
<br />Property. The word "Property"; means collectively the Real Property and the Personal Property.,
<br />Real 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, Ivan 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 />Rants. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived
<br />from the Property.
<br />Trustor. The word "Trustor" means Ken-Ray, L.L.C..
<br />TRUSTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND TRUSTOR AGREES TO ITS TERMS.
<br />tRUSTOR:
<br />KEN-RAY, L.L.C.
<br />By:
<br />Raymond J O'C n~o~r, M/anager'of Ken-Ray, L.L.C.
<br />LCI '
<br />By: ~
<br />nneth W Staab, Mem er of Ken-Ray, L.L.C.
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