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Loan No: 810172 D E Con�t n u�ed ST 2 0110 3 9. 5 5 page 6
<br />Joint and Several Liability. AII obligations of Borrower and Trus r under this Deed of Trust shall be joint and several, and all
<br />references to Trustor shall mean each and every Trustor, and all re erences to Borrower shall mean each and every Borrower. This
<br />means that each Trustor signing below is responsible for all obligatio s in this Deed of Trust.
<br />No Waiver by Lender. Lender shall not be deemed to have waived ny 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 provision of this D ed 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. No prior waiver by
<br />Lender, nor any course of dealing between Lender and Trustor, s all constitute a waiver of any of Lender's rights or of any of
<br />Trustor's obligations as to any future transactions. Whenever the c nsent of Lender is required under this Deed of Trust, the granting
<br />of such consent by Lender in any instance shall not constitute co tinuing consent to subsequent instances where such consent is
<br />required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
<br />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to
<br />any person or circumstance, that finding shall not make the offendin provision illegal, invalid, or unenforceable as to any other person
<br />or circumstance. If feasible, the offending provision shall be consid red modified so that it becomes legal, valid and enforceable. If
<br />the offending provision cannot be so modified, it shall be considere deleted from this Deed of Trust. 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 eed of Trust on transfer of Trustor's interest, this Deed of Trust
<br />shall be binding upon and inure to tha benefit of the parties, their uccessors and assigns. If ownership of the Property becomes
<br />vested in a person other than Trustor, Lender, without notice to Tr stor, may deal with Trustor's successors with reference to this
<br />Deed of Trust and the Indebtedness by way of forbearance or exten ion without releasing Trustor from the obligations of this Deed of
<br />Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance o this Deed of Trust.
<br />Waive Jury. All parties to this Deed of Trust hereby waive the right o any jury trial in any action, proceeding, or counterclaim brought
<br />by any party against any other party.
<br />Waiver of Homestead Exempfion. Trustor hereby releases and waiv s all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Deed of Tru t.
<br />DEFINITIOWS. The following capitalized words and terms shall have th following meanings when used in this Deed of Trust. Unless
<br />specifically stated to the contrary, aIl references to dollar amounts shall ean amounts in lawful money of the United States of America.
<br />Words and terms used in the singular shall include the plural, and the pI ral shall include the singular, as the context may require. Words
<br />and terms not otherwise defined in this Deed of Trust shall have the mea ings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means Equitable Bank, and its s ccessors and assigns.
<br />Borrower. The word "Borrower" means JAMES C ARENDS and RANCES A ARENDS and includes all co-signers and co-makers
<br />signing the Note and all their successors and assigns.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of T ust among Trustor, Lender, and Trustee, and includes without
<br />limitation all assignment and security interest provisions relating to t e Personal Property and Rents.
<br />Default. The word "Default" means the Default set forth in this Dee of Trust in the section titled "Default".
<br />Environmental Laws. The words "Environmental Laws" mean any a d all state, federal and local statutes, regulations and ordinances
<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. ("CERCLA"1, the Superfund
<br />Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 "SARA"i, the Hazardous Materials Transportation Act, 49 U.S.C.
<br />Section 1801, et seq., the Resource Conservation and Recovery A t, 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 "Event of Default" mean any of the vents of default set forth in this Deed of Trust in the events of
<br />default section of this Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guaranto , endorser, surety, or accommodation party to Lender, including
<br />without limitation a guaranty of all or part of the Note.
<br />Hazardous Substances. The words "Hazardous Substances" me n materials that, because of their quantity, concentration or
<br />physical, chemical or infectious characteristics, may cause or pose present or potential hazard to human health or the environment
<br />when improperly used, treated, stored, disposed of, generated, anufactured, transported or otherwise handled. The words
<br />"Hazardous Substances" are used in their very broadest sense nd 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 ny fraction thereof and asbestos.
<br />Improvements. The word "Improvements" means all existing and fu re improvements, buildings, structures, mobile homes affixed on
<br />the Real Property, facilities, additions, replacements and other constr ction 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, extensions of, odifications of, consolidations of and substitutions for the Note
<br />or Related Documents and any amounts expended or advanced by ender to discharge Trustor's obligations or expenses incurred by
<br />Trustee or Lender to enforce Trustor's obligations under this Deed of Trust, together with interest on such amounts as provided in this
<br />Deed of Trust. Specifically, without limitation, Indebtedness include the future advances set forth in the Future Advances provision,
<br />together with all interest thereon and all amounts that may be indir ctly secured by the Cross-Collateralization provision of this Deed
<br />of Trust.
<br />Lender. The word "Lender" means Equitable Bank, its successors anb assigns.
<br />Note. The word "Note" means the promissory note dated April 22, 2011 in the original principal amount of $50 ,000.00
<br />from Borrower to Lender, together with all renewals of, extensio s of, modifications of, refinancings of, consolidations of, and
<br />substitutions for the promissory note or agreement.
<br />Personal Property. The words "Personal Property" mean all equi ment, fixtures, and other articles of personal property now or
<br />hereafter owned by Trustor, and now or hereafter attached or affix d to the Real Property; together with all accessions, parts, and
<br />additions to, all replacements of, and all substitutions for, any of uch property; and together with all proceeds (including without
<br />limitation all insurance proceeds and refunds of premiums) from any ale or other disposition of the Property.
<br />Property. The word "Property" means collectively the Real Property nd the Personal Property.
<br />Real Property. The words "Real Property" mean the real property, in erests and rights, as further described in this Deed of Trust.
<br />Related Documents. The words "Related Doeuments" mean all pro issory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other
<br />instruments, agreements and documents, whether now or hereafter xisting, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means aIl present and future rents, reven es, income, issues, royalties, profits, and other benefits derived
<br />from the Property.
<br />Trustee. The word "Trustee" means Equitable Bank (Grand Island Region), whose address is 113-115 N Locust St; PO Box 160,
<br />Grand Island, NE 68802-07 60 and any substitute or successor trust es.
<br />Trustor. The word "Trustor" means JAMES C ARENDS and FRANC A. ARENDS AKA FRAN A. ARENDS.
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