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' DEED O� TRUST 2 0� 10 4 0 7 �
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<br />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable es to
<br />eny circumstance, that finding shell not meke the offending provision illegal, invalid, or unenforceable as to any other circumstance. If
<br />feasible, the offending provision shall be cansidered modified so that it becomes legal, valid and enforceable. If the offending
<br />provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the
<br />illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of
<br />eny 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 Deed of Trust
<br />shall be binding upon and inure to the benefit of tha parties, their successors and essigns. If ownership of the Property becomes
<br />vested in a person other than Trustor, Lender, without notice to Trustor, may deal 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 />Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waiver of Homestead Exemption. Trustor hereby releases and weives all rights end benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in th(s Deed of Trust. Unless
<br />specifically steted to the contrery, all references to dollar amounts shall mean amounts in lawful money of the United Stetes of Americe.
<br />Words and terms used in the singuler shall include the plural, and the plural shell include the singular, as the context may require. Words
<br />and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficiary. The word "Beneficiary" means Platte Valley State Bank & Trust Company, end its successors and assigns.
<br />Borrower. The word "Borrower" means Westerby Properties, LLC; Jeffrey S. Westerby; and Jolyne M. Westerby and includes ali
<br />co-signers and co-makers signing the Note end all their successors and assigns.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, end Trustee, and includes without
<br />limitetion all assignment and security interest provisions relating to the Personal Property end Rents.
<br />Default. The word "Default" means the Default set forth in this Deed of Trust in the section titled "Defeult".
<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local stetutes, regulations end ordinances
<br />relating to the protection of human heatth or the environment, including without limitation the Comprehensive Environmental
<br />Response, Compensation, end Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund
<br />Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 i"SARA"), the Hazardous Materiels Transportation Act, 49 U.S.C.
<br />Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or
<br />federal laws, rules, or regulations edopted pursuent thereto.
<br />Event of Defeult. 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 />Gueranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including
<br />without limitation a guaranty of all or part of the Note.
<br />Hazardous Substances. The wards "Hazardous Substances" mean materials that, beceuse ot their quantity, concentration or
<br />physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to humen health or the environment
<br />when improperly used, treated, stored, disposed of, generated, menufactured, transported or otherwise hendled. The worda
<br />"Hazardous Substances" are used in their very broadest sense and include without limitetion any and ell 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 end petroleum by-products or any fraction thereof and asbestos.
<br />Improvements. 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, end other amounts, costs end expenses payable under the Note
<br />or Related Documents, together with ell renewals of, extensions of, modifications of, consolidationa of and substitutions for the Note
<br />or Related Documents and any amounts expended or advanced by Lender 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 includes the future advances set forth in the Future Advances provision
<br />of this Deed of Trust, together with all interest thereon.
<br />Lender. The word "Lender" means Platte Valley State Bank & Trust Company, its successors and essigns.
<br />Note. The word "Note" means the promissory note dated May 27, 2011 in the original principal amount of 5240 ,000.00
<br />from Borrower to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and
<br />substitutions for the promissory note or agreement.
<br />Personal Property. The words "Peraonal Property" mean all equipment, fixtures, and other articles of personal property now or
<br />hereafter owned by Trustor, and now or hereafter attached or effixed to the Real Property; together with all accessions, parts, and
<br />edditions to, all replacements of, end ell substitutions for, any of such property; and together with ali proceeds (including without
<br />limitation all insurance proceeds and refunds of premiuma) from any sale or other disposition of the Property.
<br />Property. The word "Property" means collectively the Real Property and the Personal Property.
<br />Real 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 Documents" mean all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collaterel mortgages, and all other
<br />instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means all present end future rents, revenues, income, issues, royaities, profits, end other benefita derived
<br />from the Property.
<br />Trustee. The word "Trustee" means Platte Vailey State Bank & Trust Company, whose address is $10 Allen Dr, Grand Island, NE
<br />68803 and any substitute or successor trustees.
<br />Trustor. The word "Trustor" means Westerby Properties, LLC.
<br />TRUSTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND TRUSTOR AGREES TO ITS TERMS.
<br />TRUSTOR:
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