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<br />DEED OF TRUST 2 01 i 0 0� 9'7
<br />(Continued) Page 6
<br />define the provisians of this Deed of Trust,
<br />Merger. There shall be no merger of the interest nr estate created by this Deed of Trust with any other interest or estate in the
<br />Property at any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
<br />Goveming Law. This Deed ef Trust will 6e govemed 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 provisiens. This Deed af Trust has been accepted by
<br />Lender in the 5tate of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request ta su6mit tn the jurisdiction of the courts of Hall County,
<br />5tate ot Nebraska.
<br />Joint and 5everal Liability. All obligations of 6orrower end Trustor under this Deed of Trust shall be joint and saveral, and all
<br />references to Trustor shall mean each and every Truetor, and all references to Borrower shall mean each and every Borrower. This
<br />means that each Trustor signing below is responsible for all obligations in this Desd af trust. Where any bne or more of the parties is
<br />a corporatinn, partnership, limited liability company or similar entity, it is not necessery for Lender to inquire into the powers of any of
<br />the officers, directors, partners, members, or other agents acting or purporting to act on the entity's behalf, and any obligations made
<br />or created in reliance upon the professed exercise of such pnwers shall be guaranteed under this beed of 7rust.
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unleas such waiver is given in
<br />writing and signed by Lender. No delsy or nmission on the part of Lender in exeraising eny right shall operate as a waiver of such
<br />right or any other right. A weiver by Lender nf a provision of this Deed of Trust shall not prejudice nr constitute a waiver of Lender's
<br />right otherwise #o demend strict compliance with that provision or any other provisinn of this Deed of Trust. No prior waiver 6y
<br />Lender, nor any course of dealing between Lender and 7rustor, shall constitute a waiver of any of Lender's rights or pf any of
<br />Trustor's obligetions as to any future transactions. Whenever the consent of Lender is required under this Deed of 7rust, the granting
<br />nf such consent by Lender in any instflnce shall not cnnstitute cnntinuing consent to subsequent instances where such consent is
<br />required and in all cases such consent mey be grented or withheld in the sole discretion of Lender.
<br />Seuerabilitq. If a court of competent jurisdictinn finds any provision of this Deed of ?rust to be illegal, invalid, or unenforceable as to
<br />any circumstance, that finding shell not make the offending provision illegal, invalid, or unenfbrceable as to any other circumstance. If
<br />feasible, the nffending provision shall be considered modified sa thet it becomes legal, valid and enforceable. If the oftending
<br />prnvision cannot be sm m�dified, it shall be considerad deleted from this Deed of Trust. Unless otherwise required by lew, the
<br />illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legali#y, validity or enforceability of
<br />any other provision of this Deed of Trust.
<br />Successors and Asxians. 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 end inure to the benefit of the parties, their successors and assigns. If ownership pf ths Property becomes
<br />vested in a person other than 7rustor, Lender, without nntice to Trustor, may deal with Trustor's successors with reference to this
<br />Deed of Trust and the Indebtedness by way nf forbearance or extension without relsasing Trustor from the nbligations of this Deed of
<br />Trust or liability under the Indebtedness.
<br />7ime is ef the Essence. Time is nf the essence in the performance of this Deed of Trust,
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />5tate of Nebraska as to all Indebtedness secured by this Deed of 7rust.
<br />DEFINI710N$. 7he following capitalized words and terms shall have the follbwing meanings when used in this beed of 7rust. Unless
<br />specifically steted to the contrary, all references to dollar emounts shall mean amounts in lawful money of the United States ot America,
<br />Words end terms used in the singular shall include the plural, and the plural shall include the singular, es the context may require. Words
<br />and terms not otherwise defined in this Daed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Benaficiary. The word "Beneficiary" means Pla#te Valley 5tate Bank & Trust Company, and ils successors r�nd assigns.
<br />8orrower. The wnrd "Borrower" means King Builders, Inc; and Jason D King and includes all co-signers end co-makers signing the
<br />Note 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 Personal Property and Rents.
<br />Default. The word "Default" means the Default set forth in this Deed ot Trust in the section titlad "Defeult".
<br />Environmental Laws. The words "Environmental Laws" mean eny and all state, federal and local statutes, reguletions end ordinances
<br />relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental
<br />Response, Compensatian, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. 1"CERCLA"1, the Superfund
<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 Resnurce Conservation and Ftecovery Act, 42 U.S.C. Sectinn 6901, et seq., or other applicable state or
<br />federal laws, rules, or regulations adoptad pursusnt theretn.
<br />Event nf Default. The words "Event of Default" mean any of the events nf default set forth in this Deed of 7rust in the events of
<br />default section of this beed of Trust.
<br />Guaranty. The wnrd "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including
<br />without limitation a guaranty of all or part vf the Np#e.
<br />Hazardous Substances. The words "Hazardous Su6stances" mean materials that, because of their quan#i#y, concentration or
<br />physical, chemical or infectious cheracteristics, may cause or pose a present or potential hazard tn humsn health or the environment
<br />when improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words
<br />"Hazerdous Substences" are used in their very broadest sense and include without limitation any and all hazardous or toxic
<br />substances, 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 />Impravements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on
<br />the Real Property, facilities, additions, replacements and other construction on the Real Property.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs end expenaes peyable ander the Note
<br />or Related Documents, together with all renewals of, extensions of, modificetions of, consolidations of and substitutions for the Note
<br />br Related Documents and any amounts expended or advanced by Lender to discharge Trustor's obligations or expenses incurred by
<br />Trustee or Lender to enfprce 7rustor's obligatinns under this �eed of Trust, together with interest on such amnunts as provided in this
<br />Deed of Trust. Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provision
<br />of this Deed of Trust, together with all interest thereon.
<br />Lender. 7he word "Lender" means Platte Valley 5tate Bank & Trust Company, its successors end assigns.
<br />Note. 7he word "Note" means the promissory note dated January 7, 2p11, irl the Ori�irlal principal afTlOUnt Of
<br />S 179 ,000.00 frnm Bnrrower to Lender, together with all renewals nf, extensions of, modifications of, refinancings of,
<br />cnnsolidations ot, and substitutions for the promissory note or agreement.
<br />Personal Property. The words "Personal Property" 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 with all accessions, parts, and
<br />additions to, all replacemants of, end all substitutions for, any ot such property; and together with all proceeds (including without
<br />limitation all insurance proceeds znd refunds of premiums) trom any sale or other disposition vf the Prnperty.
<br />Property. 7he word "Property" means collectively the Real Property and the Personel f'roperty.
<br />Real Property. 7he wqrds "Fteal Property" mean the real property, interests and rights, as further described in this Deed nf Trust.
<br />Ftalated Documants. 7he wards "Ralated Documents" mean all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and ell other
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