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DEED OF TRUST � 010 0 9 S 5 U
<br />(Continued) Page 6
<br />any other provision of this peed of Trust.
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this Deed of Trust
<br />shall be binding upon and inure to the benefit af the parties, their successors and assigns. If ownership pf tha Prpperty becomes
<br />vested in a person other than Trustor, Lender, without notice to 7rustor, may deal with 7rustor's successors with reference to this
<br />Deed af Trust and the Indebtedness by way of forbearance or extension withaut releasing Trustor from the obligations of this Deed of
<br />Trust or liability under the Indebtedness.
<br />Time is of the Essence. 7ime is of the essence in the performance of this Deed of Trust.
<br />Waive Jury. All parties to this Deed of Trust herehy waive the right to any jury trial in any action, prpceeding, or counterclaim brought
<br />by any party against any other party.
<br />Waiver of Wqmestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />DEFIIVITIONS. The following capiialized words 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 Siates of America,
<br />Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the contex[ may require. Words
<br />and terms nbt otherwise defined in this Deed of Trusi shall have the meanings attributed to such terms in the Uniform Commercial Gode:
<br />Benaficiary. The word "Beneficiary" means Exchange Bank, and its successors and assigns.
<br />Borrower. The word "Borrower" means PANOWICZ LAND COMPANY LLC and includes all co-signers and co-makers signing the Note
<br />and all their successors and assigns. '
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without
<br />limitation all assignment and security interest provisions relating to the Personat Prnperty and Rents.
<br />Default. The word "Default" means the Default set farth in this Deed of 7rust in the section titled "Default".
<br />Environmental Laws. 7he words "Environmental Laws" mean any and all state, federal and local statutes, regu�ations and brdinances
<br />relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental
<br />Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCL.A"1, the Superfund
<br />Amendments and Reauthorization Act nf 1986, Pub. L. No. 99-499 ("SARA"1, ihe Hazardous Materials Transportation Act, 49 U.S.C.
<br />Section 1801, et seq., the Resource Conservation xnd 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 Default. The words "Event of Default" mean eny of the events of default set forth in this Deed of Trust in the events of
<br />default section of this Deed of Trust.
<br />Guarantor. 7he word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indeb[edness.
<br />Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a guaranty of all or part of
<br />ihe Note.
<br />Hazardous Suhstances. The words "Hazardous Subsiances" mean materials that, 6ecause of their quantity, concentration br
<br />physical, chemical or infectious charackeristics, may cause or pose a present or potential hazard to human health or the environment
<br />when improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words
<br />"Hazardous Substances" are used in their very broadest sensa and include without limitation any and all hazardous or toxic
<br />subs[ances, materials or waste as defined by or listed under the Environmental Laws. The term "Hazardous Substances" also
<br />includes, without limitation, petroleum and petroleum by-products or any fraction thereof and asbestos.
<br />Improvements. The word "Improvements" means all existing and future improvements, 6uildings, structures, mobile homes affixed on
<br />the Real Property, facilities, additions, replecements and other construction on the Real Property.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note
<br />or Related Documents, together with all renewals of, extensians of, modifications of, consolidations of and substitutions for the No[e
<br />or Related Documents and any amounts expended or advancad by Lender to discharge Trustor's obligations or expenses incurred by
<br />Trustee or Lander 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 limitatian, Indebtedness includes the future advances set forth in the Future Advances provision,
<br />together with all interest thereon and all amounts thet may be indirectly secured by the Cross-Collaterslization provision of this Deed
<br />af Trust.
<br />Lender. The word "Lender" means Exchange Bank, its successors and assigns.
<br />Note. The word "Note" means the prnmissory note dated December 29, 201Q, in the original principel amaunt Of
<br />$1,800,OOU.00 from Trustor to Lender, together with all renewals of, extensions of, modifications of, refinancings of,
<br />consolidations af, and substitutions for the promissory note or agreement. NO710E 70 7RUSTOR: THE NOTE CONTAINS A
<br />VARIABLE INTEREST RATE.
<br />Personal Property. The words "Personal Prnperty", mean all equipment, fixtures, and other articles of personal property now or
<br />hereafter owned by Trustor, and now or hereafter attached or affixed to the Real Property; together wi[h all accessions, parts, and
<br />additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including wi#hout
<br />limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Prpperty.
<br />Property. 7he word "Property" means collectively the Fteal Property and the Personal Property.
<br />Rsal Property. The words "Real Property" mean the real property, interests and rights, as further described in this Deed of Trust.
<br />Related Documents. The words "Related Documsnts" mean all promissnry notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, moitgages, daeds of trust, security deeds, cotlateral mortgages, and all other
<br />instruments, agreements and dqcuments, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />Rants. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived
<br />from the Property.
<br />Trustee. The word "Trustee" means Exchange Bank, whose address is P.O. Box 760, Gibbon, N� 6$$Ap and any substitute or
<br />successar trustees.
<br />Trustor. The word "Trus[or" means PANOWIC2 LAND COMPANY LLC.
<br />TRUSTOR ACKNOWLEDGES HAVING READ ALL THE PiiOV1510NS OF THIS DEED QF TRUST, AND TRUST�R AGREES TO ITS T�RMS.
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