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<br /> DEED OF TRUST 2 010 0 5 913
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<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 W Trustor shall mean 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, limited liability company or similar entity, it is not necessary for Lender to inquire into the powers' of any of
<br /> the officers, directors, partners, members, or other agents acting or purporting to act on the entity's behalf, and any obligations made
<br /> or created in reliance upon the professed exercise of such powers shall be guaranteed under this Deed of Trust.
<br /> No Waiver by 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 waiver 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 dealing between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of
<br /> Trustor's obligations as to any future transactions. Whenever the consent of Lender is required under this Dead 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 consent may be granted or withheld in the sole discretion of Lender.
<br /> Severability. If a court of competeht jurisdiction finds any provision of this Deed' of Trust to be illegal, invalid, or unenforceable 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 cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the
<br /> illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of
<br /> any other provision of this Deed of Trust.
<br /> Successors and Assigns. Subject to any limitations stated in this Deed 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 /> Deed 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 /> 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 Chelsea Square Development, LLC; and Robert C. Ramold and includes all co-signers and
<br /> co-makers signing the Note 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 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 Art of 1980, as amended, 42 U.S.C. Section 9601, at 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, at 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 /> Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including
<br /> without limitation a guaranty of all or part of 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 wards
<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 /> together with all interest thereon and all amounts that may be indirectly secured by the Cross-Collateralization provision of this Deed
<br /> of Trust,
<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 August 12, 2010, in the original principal amount of
<br /> $478,756.58 from Borrower to Lender, together with all renewals of, extensions of, modifications of, refinancings of,
<br /> consolidations of, and substitutions for the promissory note or agreement.
<br /> Personal Property. 1 he 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 Chelsea Square Development, LLC.
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