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<br />DEED OF TRUST
<br />; x; , 3�; lContinuedl 2 U 1 O � 9 4 I V Page 6
<br />Governing Law. This Deed of Trust will be governed by federal law applicable to Lender and, to the extent not preempted by federal
<br />law, the laws of the State of Nebraska without regard to its conflicts of law provisions. This Deed of Trust has 6een eccepted by
<br />Lenderin the State of Nebraska.
<br />Choice af Venue. If there is a lawsuit, Trustor agrees upon Lender's request tp su6mit to the jurisdiction of the courts of Buffalo
<br />Cbunty, State of Nebraska.
<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 to Trustor shall mean each and every Trustor, and all references to Borrower shall mean each and every Borrower. 7his
<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 liebility company or similar entity, it is noY necessary for Lendar to inquire into the powers af any of
<br />the officers, directors, partners, members, or other agents acting or purporting to act on the entity's behelf, and any obligations made
<br />or created in reliance upon the professed exercise of such powers shall be gueranteed under this Deed of 7rust.
<br />No Wsiver by Lender. Lender shall not be deemed to haue 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 �ender 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. Np prior waiver by
<br />Lender, nor any course of daaling 6etwaen Lender and Trustnr, shall constitute a waiver of any pf Lender's rights or of any of
<br />Trustor's o�ligations as to any future transactions. Whenever the consent of Lender is required under this Deed of l'rust, the granting
<br />of such consent by Lender in any instanca shall not constitute cantinuing cvnsent to subsaquent instances where such consent is
<br />required and in a�l csses such consent may be grented or withheld in the sole discretion bf Lender.
<br />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust [o be illegal, invalid, or unenforceable as to
<br />any circumstance, that finding shall not make the offending pravisian illegal, invalid, ar unenforceable as to any other circumstance. If
<br />feasible, the offending provision shall be considered modified so that it 6ecomes legal, valid and enfarceable. If the offending
<br />pravisipn cannpt be so mpdified, it shall be considered deleted from this beed bf Trust. Unless atherwise required by law, the
<br />illegality, invalidity, or unenforceability of any provis�on 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 Daed of Trust
<br />shall be binding upon and inure to the 6enefit of the parties, their successors and assigns. If ownership of the F'roperty bacomes
<br />vested in a person other than 7rustor, Lender, without notice to Trus[or, may deaf 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 />Trusi ar liabiliiy under the Indebtedness.
<br />Tima is of the Essence. Time is of the essence in the performance of this Deed of Trus[.
<br />Waive Jury. All partias to this Deed of 1"rust hereby waive the right to any jury trial in any action, proceeding, or counterclaim 6rought
<br />by any party against any other party.
<br />Waiver of Homes#ead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all tndebtedness secured by this Qeed of Trust.
<br />DEFINITIONS. The following capitatized wnrds 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 [he 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 shell have the meanings attributed to such terms in the Uniform Commercial Code:
<br />8eneficiary. The word "Beneficiary" means Exchange Bank, and its successors and assigns.
<br />Borrower. The word "enrrower" means LONNIE b bAVIS and includes all co-signers and �o-mak�t& si�ning iJ'ie Note and all their
<br />successors and assigns.
<br />Deed of Trust. The words "Deed of 7rust" 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 Prpperiy and Renis.
<br />Default. The word "Default" means the befault set forth in this Deed of Trust in the section titled "Default".
<br />Environmental Laws. The words "Envirpnmental Laws" mean any and all state, federel and local statutes, regulations and ordinances
<br />relating to the protection of human health or the environment, including without limitation the Comprehensive Envirnnmental
<br />Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. 5ection 9601, et seq. ("CERCLA"►, the 5uperfund
<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, et seq., the Resource Gonservation and Ftecovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or
<br />federal laws, rules, or regulations adopted pursuant thereto.
<br />Event of Default. The words "�vent of DefaulY' maan any of the events of default set forth in this Deed of 7rust in the events of
<br />default section of this Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surery, or accommodation party to Lender, including
<br />without limitation a guaranty af all pr part of the Note.
<br />Hazardous Su6stances. The words "Hazerdous Substances" mean materials that, because of their quantity, concentration or
<br />physical, chemical or infectious characteristics, may cause or ppse a prasent or potential hazerd to human health or the environment
<br />when imprbperly used, treated, siored, disposed of, generated, manufactured, transported or otherwise handled. 7he wbrds
<br />"Mazardous Substances" are used in thair very broadest sense and include without limitation any and all hazardous or toxic
<br />substances, materials or waste as defined 6y or listed under the Environmental Laws. The term "Hazardous Substances" also
<br />includes, without limitation, petroleum and petroleum by-prpducts or any fractipn therepf and asbestos.
<br />Improvaments. 7he word "Improvements" means all existing and future improvements, buildings, structures, mobila homes affixed on
<br />the Real Property, facilities, additions, replacements snd other construction on the Real Property.
<br />l�:de�t�dnesa. The word "Indebtedness" means all principal, interest, and ather amounts, costs and expenses payable under the Note
<br />or Related Documenis, together with all renewals nt, ex�ensio�s of, mndificatinns of, consolidations bf and substitutions for the Note
<br />or Related Documents and any ampunts expended or advanced by Lender to discharge Trustor's obliga[ions or expenses incurred by
<br />Trustee or Lender to enforce 7rustor's obligations under this Deed of Trust, together with interest on such amounts as provided in this
<br />Deed of 7rust. Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provisian,
<br />together with all interest thereon and afl amounts that may be indirectly secured hy the Cross-Cnllateralization provision of this Deed
<br />of Trust.
<br />Lender. The word "Lender" means Exchange Bank, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated Decemher 16, 2010, ir1 th6 original principal 8rtldurlt Of
<br />$65,OOO.UO from Borrower to Lander, together with all renewels of, extensions of, modifications of, refinancings of, consolidations
<br />of, and substitutions for the prnmissory note or agreement NOTICE TO TRUSTOR: THE NOTE CONTAINS A VARIABLE INTEREST
<br />RATE.
<br />parsanal Property. 7he words "Personal Property" mean all equipment, fixtures, and other articles of personal property now pr
<br />hereafter nwned by 7rustor, and now or hereafter attached or affixed to the Real Property; tngether with all accessions, parts, and
<br />additions to, all replacements of, and all substitutians for, any of such property; and together with all proceeds (includinry 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 callsctively the Real Property and the Personal Property.
<br />Real Property. The words "Real Praperty" 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
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