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, , � : ,, , , ; , r DEED OF TRUST
<br />` (Continued) 2 Q 10 0 9 8 U 0 Page 6
<br />given in writing and signed by the party ar partias spught to qe charged or bound by the alteration pr amendment.
<br />Annual Reparts. If the Property is used for purposes other than 7rustar's residence, 7rustor shall furnish to Lender, upon request, a
<br />certified stetement of net operating income received from the Property during Trustor's previous tiscal year in such form and detail as
<br />Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in
<br />connection with the operation of the Property.
<br />Caption Headings. Caption headings in this Deed af Trust are for canvenience purpases only and are not to be used to interpret or
<br />define [he provisians of this Deed of Trust.
<br />Merger. There shall be no merger of the interest or estate created 6y this Deed of 7rust with any other interest or estate in the
<br />Praperty at any time held by or for the benefit af Lender in any cspacity, wiihpui ihe written cpnsent of Lender.
<br />Governing Law. This Deed of Trust will 6e governed by federal law applica6le to Lender and, to the extent not praempted by federal
<br />law, the laws of the State of Nabraska withput regard to its conflicts of law provisions. 7his Daed of 7rust has baan accepted 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 Buffalo
<br />County, State of Nebreska.
<br />Joint and Several Liability. All obligations of 7rustor under this beed of Trust shall be joint and several, and all references to Trustor
<br />shall mean each and every Trustor. 7his means that each Trustor signing below is responsible for alf obligations in this 17eed of Trust.
<br />No Waiver by Lender. Lender shall not be deemed to have waivad 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 Lender of a pravision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's
<br />right otharwise to demand strict complience with tY�at provision or any other provision of this Deed of Trust. No prior waiver by
<br />Lender, nor any course of dealing between Lender and 7rustor, shall constitute a waiver of any of Lender's rights or of any of
<br />Trustor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting
<br />of such consent by Lender in any insiance shall not constitute continuing consent to subsequent instances where such consent is
<br />required and in all cases such consent may 6e granted or withheld in the sole discretion of Lender.
<br />Severabilify. If a court of competent jurisdiction finds any provision of this Deed of 7rust to be illegat, invalid, or unenforceable as to
<br />any person or circumstance, that finding shall, not make the offending provisipn illegal, invalid, or unenforceable as To any pther person
<br />or circumstance. If feasible, the offending prpvisipn shall 6e considered modified so that it becomes legal, valid and snforceable. If
<br />the offending provision cannat be so modified, it shall be considered deleted trnm this Deed of 7rust. Unless otherwise required by
<br />law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or
<br />enforceability of any other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Deed of 7rust on transfer of Trustor's interest, this Deed of Trust
<br />shall 6e 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 Trustar, may deal with 7rustor'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 nf this Deed of
<br />Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in thg performance of this Deed of Trust.
<br />Waive Jury. All parties to this Deed of 7rust hereby waiue the right to any jury trisl in any action, procaeding, or counterclaim broughf
<br />by any party against any other party.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Inde6tedness secured by this Deed af Trusz.
<br />DEFINITIONS. 7he 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 r�ferences to dollar amounts shall mean amounts in lawful money of the United States ot America.
<br />Words and terms used in the singular shall include the plurel, and the plural shall include the singular, as the context may require. Words
<br />and terms not otherwise defined in this Deed of 7rust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "eeneficiary" means Exchange� Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means JAY W LEE and MARCIA L L�E and includes all co-signers and co-makers signing the Note
<br />and all their successors and sssigns.
<br />Deed of Trust. The words "Deed of 7rust" mean this Deed of Trust among Trustpr, Lender, and Trustee, and includes without
<br />limitatipn all assignment and security interest provisions relating ta the Personal Property end Ftents.
<br />Default. 7he word "Default" means the Default set forth in this Deed of Trust in the section ti[lad "Default".
<br />�nvironmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances
<br />relating to the protection of human health or the environment, including withaut limitation the Comprehensive Environmental
<br />Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"►, the Superfund
<br />Amendments and Reauthorization Act nf 1986, Pub. L. No. 99-499 ("SARA"►, the Wazardous Materials Transportation Act, 49 U.S.C.
<br />Section 1801, e[ seq., the Resource Conservation and Recovery Act, �12 U.S.C. Section 6901, et seq., or other applicable state or
<br />federal laws, rules, ar ragulations adopted pursuant thereto.
<br />Event af Default. The words "Event of DefaulY' mean any of the events of defsult set forth in this Deed of Trust in the evenis nf
<br />default section af this Deed of 7rust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including
<br />without limitation a guaranty of all br part of the Note.
<br />Hazardous Substances. The words "Hazardous 5ubstances" mean materials that, because of their quantity, concentration or
<br />physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment
<br />when imprbperly used, treated, stored, disposed af, generated, manufactured, transported or otherwise handled. The wards
<br />"Hazardous Substances" are used in their very broadest sense and include wi[hou[ limitation any and all hazardous or toxic
<br />substances, materials or waste as defined by or listed undar the Environmental Laws. The term "Mazardous Substances" also
<br />includes, wichout limitation, petrnleum and petroleum by-pruducts or oriy fraction thereof and asbestos.
<br />Improvements. The word "Improvements" means all existing end future improvemen[s, buildings, structures, mohile homes aftixed on
<br />the Real Property, facilities, additions, replacements and other construction an the Real Property.
<br />Indebtedness. The word "Inde6tedness" means all principal, interest, and other amounts, costs and expenses payable under the Note
<br />or Related Documents, together with all renewals of, extensions of, modifications of, consolidaiians pf and substitutions for the Note
<br />or Related Documents and any amounts expended or advanced by Lender to discharge Trustor's o6ligations or expenses incurred by
<br />Trustee or Lender to enforce Trustor's obligations under this Deed of Trust, tagether with interest on such amounts as provided in this
<br />Deed of Trust. 5pecifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provisivn,
<br />together with ell interest thereon and all ampunts that may be indirectly secured by the Cross-Collateralizatipn provision of this Deed
<br />of 7rust.
<br />Lender. The word "Lender" means Exchange Bank, its successors and assigns.
<br />Note. The word "Note" means the prpmissory note dated December 29, 2010, 111 th� pl'I�Illal principal amount Of
<br />$4d,042.00 from Trustor to Lender, together wit� all renewals of, extensians of, modifications of, refinancings of, consolidations
<br />of, and substitutians for the promissory note or agreement.
<br />Personal Property. The words "Persanal Property" mean all equipment, fixtures, and other articlss of personel property nnw or
<br />hereafter owned by Trustor, and now or hereafter attached or affixed to [he Real Property; together with all accessions, parts, and
<br />additions to, all replacements of, and all substitutions for, any of such property; and #ogether with all proceeds (including without
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