|
D��D QF TRUST 2 O 1 O Q� 7 S�
<br />(COr1ti11U@[l) Page 90
<br />mortgage, lien or security interest specificalty elects in writing tp proceed with the arbitration, or lii) all parties to the arbitration waive any
<br />rights or benefits that might accrue to thsm 6y virtue of the single action rule statute of Utah, thareby agreeing that all indebtedness and
<br />obligations of the par#ies, and all mortgages, liens and security interests securing such indebtednass and obligations, shall remain fully valid
<br />and enforceable. If any such Dispute is not submitted to arbitration, the Dispute shall be referred to a master in accordance with Utah Rule
<br />of Civil Procedure 53, and this genera) reference agreement is intended ta be specifically entorceable. A master with the qualifications
<br />required herein for arbitrators shall be selected pursuant td the AAA's selec#inn procedures. Judgment upon the decision rendered by a
<br />master shall be entered in the court in which such prpceeding was commenced in accordance with Utah Rule of Civil Procedure 53�e►.
<br />MISCELLANEOUS PROVI51pNS. The following miscellaneous provisions are a part of this Deed of Trust:
<br />Amendments. This Deed of Trust, together with any Related Documents, constitute& the entire understanding and agreement of the
<br />partiss as to the matters set forth in this Deed of Trust. No alteratian of or amendment to this Deed of Trust shall be effective unless
<br />given in writing and signed by the party nr parties sought to be charged or bound by the alteration or amendment.
<br />Annual Repvrts. If the Property is used for purposes ather than Trustor's residence, 7rustor shall turnish to Lender, upon request, a
<br />certified statemant of net operating incnme received frpm the Property during Trustor's previaus fiscal year in such farm and detail as
<br />Lender shall require. "Net operating income" shall mean all cash receipts from the C'roperty less all cash expenditures made in
<br />connection with the operation of the Prpperty.
<br />Caption Headings. Caption headings in this �eed of Trust are for convenience purppses only and are not to be used to interpret or
<br />define the provisions of this �eed of 7rust.
<br />Merger. 7here shall be no merger of the interest or estate created by this Deed pf Trust with any other interest or estate in the
<br />Property at any time held by or for the bensfit of Lender in any aepaoity, without the written cqnsent of Lender.
<br />Goveming Law. This Deed of Trust will be gaverned by federal law epplicahle to Lender and, ta the extent not preemqted by faderal
<br />law, the laws of the State af Nebraska without regard to its conflicts of law provisions. This Daed of Trust has baen accepted hy
<br />Lender in the State of Nebrask�.
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Daed 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 7rust shall nqt prejudice or constitute a waiver of Lender's
<br />righ[ otherwisa ta demand strict compliance with that provision or any other provision of this Deed of 7rust. No prior waiver by
<br />Lender, nor any caurse of dealing between Lender and Trustvr, shall constitute a waiver of any of Lender's rights or of any of
<br />Trustor's obligations as to any fu#ure transactions. Whenevar the consent of Lender is required under this Deed of Trust, the granting
<br />of such consent by Lender in any instance shall not constitute continuing consent [o subsequent ins#ances where such consent is
<br />required and in all cases such consent may be granted or withheld in the sole discretian of Lender.
<br />Severability. If a court pf competent jurisdiction. finds any provisipn of this [7eed of Trust to be illegal, invalid, nr unenforceahle as to
<br />any •circumstance, that finding shall not make the offending provision illegal, invalid, ar unenforceable as to any other circumstance. If
<br />teasible, the offending provision shall be considered modified so that it becnmes legal, valid and entorceable. If the oftending
<br />provision cannot be so modified, it shall be considered dal�ted from this Deed ot 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 Qeed vf Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interast, this Deed of Trust
<br />shall 6e binding upon and inure to the benefit of the parties, their successors and assigns. If ownarship of the Property becomes
<br />vested in a person other than Trustor, Lender, without notice to Trustar, may deal with 7rustor's successors with reterence to this
<br />Deed of Trust and the Indebtedness by way of forbaarance or extension withput releasing Trustor from ths 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 parformance of this peed of Trust.
<br />Waiver of Homestead Examption. Trustor hereby releases and waives all rights and benefits nf the homestead exemption laws of the
<br />S#ate of Nebraska as to all Indebtednass secured 6y this Deed of 7rust.
<br />DEFINI710NS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless
<br />specifically sta#ed to the contrary, all references to dollar amounts shall mean ampunts in lawful money of the United States of America.
<br />Words and term& 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 ths Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means Wells Fargo Bank, National Association, and ita successprs and assigns.
<br />Borrower. Tha word "Borrower" means Circle K Land & Cattle, tnc. and includes all co-signers and co-makers signing the Note and all
<br />their successors and assigns.
<br />Desd of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without
<br />limite#ion all assignment and security interest provisions relating to the Personal Property and Rents.
<br />Default. The word "qefault" means the Default set forth in this Dead of Trust in the section titled "Defautt".
<br />Environmental Laws. The words "Environmental l.aws" mean any and all state, federal and Ivcal statutes, regulations and ordinances
<br />relating to the protection of human health nr the environment, including without limitation the Comprehensive Environmental
<br />Respanse, Compensation, and Lia6ility Act of 19$D, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"►, the Superfund
<br />Amandments and Reautharization Act of 1986, Pub. L. No. 99-499 ("SARA"►, the Hazardnus Materials Transportation Act, 49 U.S.C.
<br />5ection 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Sectipn 6901, et seq., or other applicable state or
<br />federal laws, rules, or regulations adopted pursuant thereto.
<br />Event of pefault. The words "Event of Default" mean any of the eventa of default set forth in this Deed of Trust in the events of
<br />defeult section pf this Deed of Trust.
<br />
|