|
' DEED OF TRUST � o��(� 1�'�' s ,
<br />Loan No: 101242087 (Continued) page 8
<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 circumstance, that finding shall nat make the offending provision illegal, invalid, or unentorceable as to any other circumstance. If
<br />feasible, the offending provision shall be considered 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 Yhe legelity, validity or enforceability of
<br />any other provision of this Deed of Trust.
<br />Successors end Assigns. Subject ta 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 end assigns. If ownership of the Property becomes
<br />vested in a person other than Trustor, Lender, without notice to 7rustor, 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 trom 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 af Homestead Exemption. Trustor hereby releases and waivas all rights and benefits of the homestead exemptian 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 shal! have the following meanings when used in this Deed ot Trust. Unless
<br />specifica(ly stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of AYneriaa.
<br />Words and terms used in the singular shall include the plural, and the plurel shall include the singular, as the context may require. Words
<br />and ierms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commerciel Code:
<br />Beneflciary. The word "Beneficiary" means Five Points Bank, snd its successors and assigns.
<br />Borrower. The word "eorrower" means JOHN A ALBERS; MAHILYN LEE ALBERS; and M. A. REAL ESTATE, L.L.C, and includes all
<br />co-signers and co-makers signing the Note and ali their successors and assigns.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed ot Trust among Trustor, Lender, and Trustee, and includas without
<br />fimitation all assignment and security interest provisions relating to the Personal Property and Rents.
<br />Default. The word "Defsult" means the Default set forth in this Deed of Trust in the section titled "Defauft".
<br />Environmental Laws. The words "Environmentaf Laws" mean any and all state, federal and local statutes, regulations end ordinances
<br />relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental
<br />Response, Compensation, and Liability Act ot 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 ("SARA"), the Hazerdous Materials Transportation Ac#, 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 appliceble state or
<br />federal laws, rules, or regulations adopted pursuant thereto.
<br />Event of befault. The words "Event of Default" mean any 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 />Guaranty. 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 words "Hazardous Substances" mean materials that, because of their quantity, concentration or
<br />-- physical, chemical or infectious characteristics, may cause or pose a present or potential hazerd to human health or the environment
<br /> -- when improperly used, treated, stored, disposed of, generated, manufactured, transparted or otherwise handled. The words
<br /> --- "Hazardous 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 "Wazardous Substances" alsa
<br />� includes, without limitation, petroleum and petroleum by-products or any fraction thereot and asbestos.
<br />Improvements. The word "Improvements" means alI 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 emounts, costs and expenses payable under the Note
<br />:� 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 /> -- 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. Specificelly, without Iimitation, Indebtedness includes all amounts that may be indireetly secured by the
<br />Cross-Collateralizaiion provision of this Deed of Trust.
<br />Lender. The word "Lender" means Five Points Bank, its successors and assigns.
<br />Note. The word ° Note" means the promissory note dated June 22 20� �, in the original principal amount of $155,000.00
<br />from Borrawer 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 06/17/2031.
<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, alI replacements of, and all substitutions for, any of such property; and together with all proceeds lincluding without
<br />timitation all insurence proceeds and refunds of premiumsl from any sale or other disposition of the Property.
<br />Property. The word "Property" means collectively the Real Properry and the Personal Property.
<br />Real Property. The words "Real Property" mean the real property, interests and rights, as further described iA 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, collateral mortgages, 8nd all other
<br />instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br /> �
<br />
|