|
r��;�`���I�l�����' DECo�nuedlST �0100g$�� Page6
<br />required and in all cases such consent may be granted or withheid in the sole discretion of Lender.
<br />5everabil�ty. �'�If a�court of competent`juristlic�tion�finds� any provision bf 'thi9 aead af firust'to bs'lllegal, inVehd; o'r"ur�enforceabla as to
<br />any persan or circumstance, that finding shall not make the offending prpvision illegal, invalid, or unenforceable as to any other person
<br />or circumstsnce. If feasible, the offending provision shall be considersd modified so that it becomes legal, valid end enforceable. If
<br />the offending provision cannot be so modified, it shall be considered deleted from this beed of Trust. Unless otherwise required by
<br />lew, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not effsct the legelity, validity or
<br />enforceability vf any ather prnvision of this Deed nf Trust.
<br />Successors end Assigns. SubJect to any IimiYations stated in this Deed ot Trust an transfer of Trustor's interest, this Desd of Trust
<br />shall be binding upon and inure to the benefit of the parties, thsir successors and assigns. If ownership of the Property becames
<br />vested in e person other than Trustor, Lender, without notice to Trustor, may deal with Trustor's successors with reference ta this
<br />beed of Trust snd the Inde6tedness by wey nf forbsarance or extsnsion withnut releasing Trustar from the obligations of this Deed of
<br />Trust or liability under tha Indebtednsss.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waive Jury. All parties to this I�eed of 7rust here6y waive the right to eny jury trisi in any sntion, proceeding, or counterclaim brought
<br />by any party ageinst any other party.
<br />Waiver of Homestead Exempttan. Trustor hereby reieases and waivas all righta and benefits vf #he homestead sxemption laws bf the
<br />State of Nebraske as to all Indebtedness secured by this beed of 7rust.
<br />DEFINITIONS. The following capitalized words and tsrms shall have the following meenings when used in this Deed of Trust. Unless
<br />specifically stated to the cnntrary, all references to dollar amounts shail mean amounts in lawful monay of the United 5tates of America.
<br />Words and terms used in the singulsr sheli include the plural, and the plural shall include the singular, as the context may require. Words
<br />and terms not otherwise definsd in this I]eed of 7rust shell have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means Exchange Bank, and its successors and assigns.
<br />gorrpwer. The ward "�orrower" means Joshua R Rhoads end Ashley K Rhneds and includes eil cn-signers and co-makers signing the
<br />Note and ell their succsssors and assigns. �
<br />Deed af Trus#. Tha words "�eed of Trust" mean this Deed of Trust. among T,rustor.,. Lender, and 'Trus. tee; an�i includes without
<br />limitation all assignment and security interest provisions relating to the Personai Proparty and Rents.
<br />' , . ,;
<br />Default. The word "Default" means the Default set forth in this Deed of 7rust in tha section titled "Default".
<br />Environmental Laws. The words "�nvironmental Lews" mean any end all stste, federal and local statutes, regulations and ordinances
<br />relating to the prvtection of humen heaith or :the environment, including without IimitaYion the Comprehensive Environmantai
<br />Response, Compensetion, and Liability Act of 198�, as amended, A2 U.S.C. Section 96p1, at seq. ("CERCLA"1, the Superfund
<br />Amendments and Reauthorizetiqn Act of 1986, Pu6. L. No. 99-499 ("SARA"�, the Mazerdous Materials Transportation Act, 49 U.S.C.
<br />Section 1801, et seq., the Resource Cons�rvation and Recovery Act, 42 U.S.C. Section 6901, at seq., or other applica6le stste or
<br />feder�l laws, rules, or reguiations adopted pursuant thareto.
<br />Event of Default. Tha words "Event of Default" mean any of the events of default set for#h in this Deed af Trust in the events of
<br />default section of this Deed of Trust.
<br />Guarantar. 7he word "Guarantor" means any guarantor, surety, or accommodation party of any or sll of the Inde6tadness.
<br />Quarenty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a guersnty of all or part of
<br />the Note. `
<br />Mazardous Substances. Tha words "Hazardous 5ubstances" iiiean materials that, because of their quantity, concentration or
<br />physicai, chemicai or infectious characteristics, may cause or pose a prssent or potential hazard to humen health or the environment
<br />when improperly used, treeted, stored, disposed of, generated, manufactured, transported ar atherwise hendled. The words
<br />"Hezardous Substances" are used in their very Ihroadest sense end include without Ifmitation any and all hazardous or toxic
<br />substances, msteriels or waste as defined by or listed wnder the Environment'al L.aws. The tarm "Wazardous 5ubstances" also
<br />includas, without limitation, patroleum and petroleum by-products nr any fractinn thereof and asbestos.
<br />Improvements. l"he word "Improvements" means all existing and futurs improvements, buildings, structures, mobile homes affixed on
<br />the Real Property, facilikies, edditions, replacements �nd other construction on the Resl Property.
<br />Indebtedness. The word "Indebtedness'' means all principal, interest, and other amounts, casts end expenses payable under the Nvte
<br />or Related Documents, together with all renewals of, sxtensions of, mo�ifications of; consolidations of and substitutions for the Note
<br />or Related Documents and sny amounts axpendad or advanced by Lender to discharge 7rustor's pbiigations or expenses incurred by
<br />Trustee or Lander to enforce Trustor's obligations under this Deed of 7rust, tpgether with interest on such amounts as provided in this
<br />Dsed of Trus4. Specifically, without limitation, Indebtedness inciudes the future advances set forth in the Future Advances provision,
<br />, , y d by the Cross�Collateralization. prnvision of this Deed
<br />9 t F?? §Y. ,
<br />to e er wit ; a I interest thereon, an a� aunts t et m e in irect secure
<br />of 7�ust-. . . . � � , � , , ., , .r. , .
<br />, .. ; � �,
<br />Lender. The ward "Lender" means Exchange Bank, its successors and assigns.
<br />Nnte. The word "Note" means the prpmissory note dated November 4, 201 �, Itl t�18 ariginal principal atT10U11t Of
<br />� 149 ,44$.$4 frvm Trustor to Lender, together with all renewsis af, extensions of, modificatinns of, refinancings of, consolidations
<br />of, snd substitutions for the promissory note or agreamant. NOTICE TO TRU57bR: tHE NOl'� CONTAINS A VARIABLE INTEREST
<br />RATE.
<br />Persanai Property. 7he words "Personal Property" mean ell squipment, fixtures, and other articles of peraonal property now or
<br />hereafter owned by Trustor, and now or hereafter ettached or affixed to the Real Property; togather with all accessions, parts, and
<br />additions to, all replacements of, and all substitutiana for, any of such property; and together with all proceeds (including without
<br />Iimitation all insuranca proceeds and refunds of premiums) from any sale or other dispositian of the Properry.
<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, intorests and rights, as further described in this Dsed of Trust.
<br />Related Dacuments. Tha words "Related Documents" mean all pramissory nates, credit agreements, loan agreements, environmental
<br />egreements, guaranties, security agreements, mprtgages, deeds of trust, security deeds, callateral mortgages, and all other
<br />instruments, agreements and dvcuments, whether now or heresfter existing, executad in connection with the Inda6tedness.
<br />Rents. The word "Rents", means all present and future rents, revenues, income, issues, roysities, profits, and other bensfits derived
<br />from the Property.
<br />Trustee. The word "Trustee" means Exchanc�e 8ank, whose address is P.O. Box 76d, Gibbon, NE 68840 and any suhstitute nr
<br />successvr trustees.
<br />Trustor. The word "7rustpr" means Joshua R Rhoads end Ashley K Rhoads.
<br />
|