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DEED OF TRUST `� Q�. Q Q"�'� 1 S
<br />Loan Na: $094$7 (Continued) Page 6
<br />define the provisians of this Deed of Trust.
<br />Merger. There shall be nv merger of the interest or estate created by this Deed of Trust with any other intarest or astate 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 />Governing Law. This Deed of Trust will be governad hy federal law applicable to I.ender and. to the extent not preempted by federal
<br />law, the (aws of the State of Nebraska without regard #o its conflicts of law provisians. This Ueed of Trust has been acaepted by
<br />Lender in the State of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of Mall County,
<br />Stats of Nebraska.
<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 waivar by Lender of a provision of this Deed of Trust shall not prejudice ar 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 betwean Lender and Trustor, shall constitute a waiver of any of Lender's rights or qf any of
<br />Trustor's obligations as to any future trenaections. Whenever the consent of Lender is required under this Deed af Trust, the granting
<br />of such con.s.�nt by Lender in any instance shall not constitute continuing consent to subsequent instances where such cansent is
<br />required and in all cases such consent may he granted or withheld in the sale discretion of Lender.
<br />Severability. If a court of competent jurisdiction finds any provision of this Deed af Trust to be illegal, invalid, or unenforceable as to
<br />any circumstance, that finding shall not make the affending provision illegal, invalid, or unenforceable as to any other circumstance. If
<br />feasibla, the oftending 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. Unl�ss 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 />Successars 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 inura to the benefit of the parties, their successors and assigns. If awnership 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 extensivn without releasing Trustor from tha o6ligations 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 ta this D�ed of Trust hereby waive the right to any jury trial in �ny actinn, proceeding, or counterclaim brought
<br />hy any party against any vther party.
<br />Waiver of Homestead Exemption. 7rustor hereby releases and waivss 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 />DEFIfVITIONS. The following capitalized wards 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 />Wards 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 7'rust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means Equitable Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means MICHA�L J MILBOURN and includes all co-signers and co-makers signing the Note and all
<br />their successors and assigns.
<br />Dead af 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" mesn any and all state, federal and local statutes, regulations and ordinances
<br />relating to the protection of human health or Che environment, including without limitation the Comprehensive Environmental
<br />Response, Compensation, and Liebility Act of 1980, as amended, �2 U.S.C. Section 9601, et seq. ("CERCLA"►, the Superfund
<br />Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 ("SARA"►, the Hezardous Materials Transportation Act, 49 U.S.C.
<br />5ection 1801, at seq., the Ftesource Conservation and Recovery Act, �l2 U.S.G 5ection 6901, et seq., vr other applicable state or
<br />federal laws, rules, or regulatians adopted pursuant thereto.
<br />Event of Dgfault. 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 beed of Trust.
<br />Existing Indebtedness. The words "Existing Inde6tedness" mean the indebtedness described in the Existing l.iens provision of this
<br />Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorsar, surety, or accommodation party to Lender, including
<br />without limitation a guaranty of all or part of the Note.
<br />Hazardaus Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or
<br />physical, chemical or infectious characteristics, mey cause or pose a present or potential hazard to human health or the envirvnment
<br />when improperly used, treated, stored, disposed of, genarated, 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. 7he term "Hazardous Substances" also
<br />includes, without limitation, petroleum and petroleum by-products or any fraction thereof and asbestos.
<br />Imprvvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on
<br />the Real Property, facilities, additivns, replacements and other construction on the Real Property.
<br />Indebtedness: The wnrd "Indebtedness" means all principal, interest, end..other ampunts, costs..and payable under the Note
<br />or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of end substitutions tor the Nvta
<br />or Related Documents and any amounts expended or advanoed 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 all amounts that may be indirectly secured by the
<br />Cross-Collateralization provision of this Deed of Trust.
<br />Lender. The word "Lender" means Equitable Bank, its successors and assigns.
<br />Note. 7he word "Note" means the promisspry note dated October 15, 2010, Ifl th8 origlllal principal afnOUnt Of
<br />$70,OdQ.00 from Trustor to Lender, together with all renewals af, extensions of, modifications of, refinancings of, consolidations
<br />of, and substitutions for the promissory note or agreement. NOTICE TO TRUSTOR: THE NOTE CONTAINS A VARIABLE INTEREST
<br />RAtE.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articlas of personal prnperty 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 dispnsition af the Property.
<br />Property. The word "Property" means collactively the Real Property and thg Personal Praperty.
<br />Real Property. 7he words "Real Property" mean the real property, interests and rights, as further described in this Deed of Trust.
<br />Related pocuments. The words "Related bocuments" mean all promissory nntes, credit agreements, loan agreements, environmental
<br />agreements, guarantias, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other
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