|
<br />
<br />
<br />
<br /> DEED OF TRUST
<br /> (Continued) 200910070
<br /> Page 6
<br /> Waiver of Homestead Exemption, 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 shall 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 "Beneficiary" means Platte Valley State Bank & Trust Company, and its successors and assigns.
<br /> Borrower. The word "Borrower" means Personal Automotive Services, Inc and includes all co-signers and co-makers signing the Note
<br /> and all their successors and assigns.
<br /> Deed of Trust. The words "Deed of Trust" mean this Deed 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 word "Default" means the Default set forth in this Deed of Trust in the section titled "Default".
<br /> Environmental Laws, The words "Environmental Laws" mean any and ail 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 amaMed, 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, at 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 word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indebtedness.
<br /> Guaranty. The word "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 words "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 of, modifications of, consolidations of and substitutions for the Note
<br /> or Related Documents and any amounts expended or advanced by Lender to discharge Trustor's obligations or 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 /> of this Deed of Trust, together with all interest thereon.
<br /> Lender. The word "Lender" means Platte Valley State Bank & Trust Company, its successors and assigns.
<br /> Note- The • word "Note" means the promissory note dated December, 9, 2009, in the . original principal amount of
<br /> $245,000.00 from Trust-or to Lender, toga'that with all renewals of; extensions of, modifications of, refinancings' of, consolidations
<br /> of, and substitutions for the promissory note or 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
<br /> additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without
<br /> limitation all insurance proceeds and refunds of premiums) 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, loan 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 /> Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived
<br /> from the Property,
<br /> Trustee, The word "Trustee" means Platte Valley State Bank & Trust Company, whose address is 810 Allen Dr, Grand Island, NE
<br /> 68801 and any substitute or successor trustees.
<br /> Trustor. The word "Trustor" means Personal Automotive Services, Inc,
<br /> TRUSTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND TRUSTOR AGREES TO ITS TERMS.
<br /> TRUSTOR:
<br /> PERSON t_ TOMOTIVE SERVICES, INC
<br /> By-
<br /> Russel C. Francl, President of Personal Automotive Services, Inc
<br />
<br /> ~~s
<br />
|