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4'�,� `� � DEED OF TRUST 2 p 10 0 8 3 8 0
<br />(Continued) Page 6
<br />local or state law to deny any obligation nf Borrower, br defeat any claim of SBA with respect ta this Loan. Any clause in this
<br />document requiring ar6itretion is not enforceable when SBA is the holder of the Note secured by this instrument.
<br />Choice of Venue. If thsre is e lawsuit, Trustnr agrees upon Lender's request ta submit to the jurisdiction of the courts of Hall County,
<br />State of Nebraska.
<br />Joint and Seueral Liability. All obligations of �orrower and 7rustor under this Deed of Trust shall be jnint and several, and all
<br />references ta 7rustor shall mean each end svery Trustor, and ell references to Borrower shall mean each and every 8orrower, This
<br />means that each Trustor signing below is responsible for all obligations in this Deed of Trust.
<br />Nn Waiver by Lender, �ender shall not be deamad ta heve waived any rights under this Deed of Trust unless such waiver is given in
<br />writing and signed by Lender. No deley nr omission on the part ot Lender in exercising any right shall operate as a waiver of such
<br />right or eny other right. A waivar by Lender of a provision of this Deed of Trust shall not prejudice or constitute e weiver of Lender's
<br />right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. Np prior waiver 6y
<br />Lender, nar any course of dealing between Lender and Trustor, shall constitute e weiver of any of Lender's rights or of any of
<br />Trustor's obligations as to any future transactions. Whenever the consant of Lender is required under this Deed of Trust, the granting
<br />nf such cpnsent by Lender in eny instance shall not constitute continuing consent to subsequent instances where such cansant 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 competent jurisdiction finds any provision of this Deed of 7rust to ba illegel, invalid, or unenforceable as to
<br />any person or circumstance, that finding shall not make the offending provision illegel, invalid, or unenforceable as to any other persorl
<br />or circumstance. If feasible, the offending provision shall be cpnsidered modified so that it becomes legal, valid and enforceable. If
<br />the affending provisiqn cannnt be an modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by
<br />law, the illegality, invalidity, nr unenforceability of any provision of this Deed of Trust shall not affect tha legslity, validity or
<br />enforceability of any other provision of this Deed of 'frust.
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this Desd 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 Truetor, may deal with Trustor's successors with reference to this
<br />Deed of Trus# and the IndeStedness by way of forbearance pr extension without releasing Trustor from the obligations of this Deed af
<br />Trust or liability under tha Inde6tedness.
<br />Time Is of the Essence. Time is of the essence in the performance of this qeed of Trust.
<br />Weiver of Homestaed Exemption. Trustor hereby releases and waives all rights and benefits of the homeatead exsmptinn lews of the
<br />State of Nebraska as to all Indebtedness secured by this Deed ot 7rust.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this �eed of Trust. Unless
<br />specifically stated to the contrary, all references to dollar amounts ahall mean smounts 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 Daed of Trust shell have the meanings attributed to such terms in the Unifnrm Cnmmercial Code:
<br />Beneficiary. The word "Beneficiary" means Platte Valley 5tate Bank & Trust Cnmpany, and its successors and assigns. ,
<br />Borrower. The word "Borrower" means Friesen Management, Inc and includes all co-signers and co-makers signing the Note end sll
<br />their successors and assigns.
<br />Deed of Trust. The words "Deed of 7rust" mean this Deed of Trust among Trustor, Lender, and 7rustee, and includes withoUt
<br />limitation all assignment and security interest provisions releting to the Personal Property and f�ents.
<br />Default. 7he word "Default" means the Default set far#h in this Deed of Trust in the section titled "Default".
<br />Environmentai Laws. The words "�nvironmentel Lawa" mean any and all state, federal and local statutes, regulatinns end ardinances
<br />relating to the protection of human haelth nr the environment, including without limitation the Comprehensive Environmental
<br />Response, Cnmpensetinn, and Liability Act of 1980, as amended, 42 U.S.G Section 9601, et seq. ("CERCLA"1, the Superfund
<br />Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 ("SARA"►, the Hazardous Ma#erials 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 o�
<br />federal laws, rules, or regulations sdopted pursuant #hereto.
<br />Event of pefautt. The words "Event of befault" mean any of the events of default set forth in this Deed of Trust in the events oi
<br />default sectinn of this Deed pf Trus#. "
<br />Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens provision of this
<br />Deed of Trust.
<br />Guarantor. The word "Guarantor" means �ny guarantor, surety, or accommodation party of any or all of the Indebtednass.
<br />Guaranty. The word "Guaranty" means the guaranty from Guerantor to Lender, inpluding without limitation a guaranty of all or part of
<br />the Note.
<br />Hazardous Substances. The words "Hazardous Substances" mean meterials that, because of their quantity, concentration or
<br />physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human hesl#h or the snvironment
<br />when improperly used, treated, stored, disposed of, generated, manufactured, trensported or otherwise handled. The words
<br />"Hazardous 5ubstances" are used in their uery broadest sense and include without limitation any and all hazardous or toxic
<br />substances, materials or waste as defined by nr listed under the Enviranmental Laws. The term "Hazardous Substences" sisn
<br />includes, withput limitation, patroleum and petrnleum by-products or any fraction thereof and asbestos.
<br />Improvements. The word "Imprnvaments" means all existing and future improvements, buildings, structwres, mpbile homes affixed on
<br />the Real Property, fecilities, additions, replacements and other conatruction on the Real Prpperty.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other ampunta, costs and expenses payable under the Note
<br />or Related Documents, together with all renewals of, extensions pf, modificetions of, consolidations of and substltutions for the Note
<br />or Related �ocuments and any amounts expended ar sdvsnced 6y Lender to discharge 7rustor's obligations or expenses incurred by
<br />Trustee or Lender to enforce Trustor's pbligatinns under this Deed of Trust, together with interest on such amounts as providad in this
<br />Daed nf Trust.
<br />Lender. Ths wnrd "Lender" means Platte Valley State Bank & Trust Company, its successors and assigns.
<br />Note. The wnrd "Note" means the promissory note dated November 5, 2010, in #he original pritlCl�]al atT10U11t Of
<br />$199 ,500.00 from Borrower to I�ender, together with all renewals of, extensions of, modifications of, refinancings of,
<br />consolidations of, and substikutinns for the prnmissory note or agreement. NOTICE TO TRUS70Ft: 1'HE Np7E CONTAINS A
<br />VARIABLE INTEREST RATE.
<br />Person�l Prpperty. The words "Personal Property" mean all equipment, fixtures, and other articles of personal prpperty 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; end togather with all proceeds (including without
<br />limitation all insurance proceeds and refunds af premiums) from any sele ar o#har disposition of the Property.
<br />Property. The word "Property" means collectively the Real Property end the Peraonal Prpperty.
<br />Real Property. The words "Real Property" mean the real property, intarests and rights, as furthsr described in this Deed of Trust.
<br />Related Documents. The words "Related �ocuments" mean all promissory notes, credi# agreements, loan agreements, environmental
<br />agreements, guaranties, security agreementa, mortgages, deeds of trust, security deeds, collateral mortgages, and all other
<br />instruments, agreamants 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, end other benefits derived
<br />from the Property.
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