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<br />DEED OF TRUST 2 0,� i Q 4 0 s G
<br />No: 101239�'�0 ` ` (Continued) Page 7
<br />I Choice of Venue. If there is a IawsuiL Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of Hall County,
<br />' State of Nebraska.
<br />I Joint and Several Liability. All obligations of Trustor under this Deed of Trust shall be joint and several, and all references to Trustor
<br />, shall mean each and every Trustor. This means that each Trustor signing below is responsible for all obligations in this Deed of Trust.
<br />I No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under this Deed of Trust unless Lender does
<br />!� so in writing. The fact that Lender delays or omits to exercise any right will not mean that Lender has given up that right. If Lender
<br />I does agree in writing to give up one of Lender's rights, that does not mean Trustor will not have to comply with the other provisions
<br />' of this Deed of Trust. Trustor also understands that if Lender does consent to a request, that does not mean that Trustor wili not
<br />have to get Lender's consent again if the situation happens again. Trustor further understands that just because Lender consents to
<br />! one or more of Trustor's requests, that does not mean Lender will be required to consent to any of Trustor's future requests. Trustor
<br />�� waives presentment, demand for payment, protest,. and notice of dishonor.
<br />I Severability. If a court finds that any provision of this Deed of Trust is not valid or should not be enforced, that fact by itself will not
<br />mean that the rest of this Deed of Trust will not be valid or enforced. Therefore, a court will enforce the rest of the provisions of this
<br />, Deed of Trust even if a provision of this Deed of Trust may be found to be invalid or unenforceable.
<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 the parties, their successors and assigns. if ownership of the Properry 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 />�I Waiver of Homestead Exemption. Trustor hereby releases and waives ali 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 />�EFINITIONS. The following words shall have the following meanings when used in this Deed of Trust:
<br />I Beneficiary. The word "Beneficiary" means Five Points Bank, and its successors and assigns.
<br />�, Borrower. The word "Borrower" means LISA C CALLAHAN and RICHARD D CALLAHAN JR and includes all co-signers and
<br />I� co-makers signing the 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 ail assignment and security interest provisions relating to the Personal Property and Rents.
<br />� I Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances
<br />I 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"), the Superfund
<br />I Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 1"SARA"), the Hazardous Materials 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 />I federal laws, rules, or regulations adopted pursuant thereto.
<br />�� Event of Default: The words "Event of Default" rriean �y 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 />Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Exis2ing, Liens provision of this
<br />Deed of f'rust. " " "
<br />� Hazardous Substances. The words- "Hazardous Substances" mean materials that; 4iecause of their quantity, concentration or
<br />I physical, chemical or infectious characteristics, 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 sense and include without limitation any and all hazardous or toxic
<br />substances, materials or waste es defined by or listed under the Environmental Laws. The term "Hazardous Substances" also
<br />includes, without limitation, petroleum and petrofeum by-products or any frection thereof and asbestos.
<br />', Improvemerrts. 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 Reai Property.
<br />I , Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note
<br />I or Related Documents, together with all renewals of, extensions of, modifications of, consolidations 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 />I 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.
<br />�� Lender. The word "Lender" means Five Points Bank, its successors and assigns. The words "successors or assigns" mean any
<br />I person or company that acquires any interest in the Note.
<br />! Note. The word "Note" means the promissory note dated May 23, 2011 in the original principal amount of 558 ,900.00
<br />' from Trustor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and
<br />substitutions for the promissory note or agreement. The maturity date of this Deed of Trust is May 27, 2012.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal properry now or
<br />I hereafter owned by Trustor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and
<br />i additions to, ail replacements of, and all substitutions for, any of such property; and together with all proceeds (including without
<br />�� limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property.
<br />I Property. The word "Property" means collectively the Real Property and the Personal Property.
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