|
DEED OF TRUST
<br />(Continued)
<br />201105328
<br />Page 7
<br />waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right
<br />shall operate as a waiver of suoh right or any other right. A waiver by Lender of a provision af this Deed of Trust
<br />shall not prejudice or constitute a waiver of Lender's right otherwise to damand strict compliance with that
<br />provision or any other provision of this Deed of Trust: No prior waiver by Lender, nor any course of dea�ing
<br />between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustor's obiigations
<br />as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting
<br />of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where
<br />such consent is required and in all cases such aonsent may be grented or �vithheld 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
<br />unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or
<br />unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so
<br />that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be
<br />considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or
<br />unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any
<br />other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any limitation� stated in this Deed of Trust on transfer of Trustor's interest,
<br />this Deed of 7rust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If
<br />ownership of the Property becomes vested in a person other than Trustor, Lender,,; without notice to Trustor, may
<br />deal with Trustor's successors with reference to this Dead of Trust and the Indebtedness by way of forbearance or
<br />extension without releasing Trustor from the obligations of this Deed of Trust or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the pertormance of this Deed of Trust.
<br />Waive Jury. All parties to this Deed of Trust hePeby waive the right to any jury trial in any actlon, proceeding, or
<br />counte�claim brought by any party against any other party.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead
<br />exemption laws of the 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 this Dead of
<br />Trust. Unless specifically stated to the contrary, all references to doller amounts shall mean amounts in, lawful money
<br />of the United States of America. Words and terms used in the singular shall inciude the plural, and the plural shall
<br />include the singular, as the context may require. Words and terms not otherwise defined in this Deed of Trust shall
<br />have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Beneficisry. The word "Beneficiary" means Exchange Bank, snd its successors and assigns.
<br />Borrower. The word °Borrower" means Rhoads Enterprises, Inc. and includes all co-signers and co-makers signing
<br />the Note and all their successors and assigns.
<br />Deed of Trust. The words "Deed of Trust" mean this Daed of Trust among Trustor, tender, and Trustee, and
<br />includes without limitation all essignment and security interest provisions relating to the Personal Property and
<br />Rents.
<br />Default. The word "Default" means the Default set forth in this Deed o`I'rust iq,�fae s�"c2i��erJ,= Daf�ult-"..
<br />�,:, r :, < <���^ u .� n
<br />Environmental Laws. 7he words "Environmental Laws" mean any; art2� all s�a�e�y�$f�ir�l, and IoCal st�tutes,
<br />regulations and ardinances relating to the protection of human he�lth oc �fi�'e `en�ico�r,n�,�Y, i��{Ud(ng� without
<br />limitation the Comprehensive Environmental Response, Compensation, and Lia`6ility Ac�' J$0; amended, 42
<br />U.S.C. Sectian 9601, et seq. 1"CERCLA"1, the Superfund Amendments and Reauthoriaation Act of 1986, Pub. L.
<br />No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource
<br />Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules,
<br />ar regulations adopted pursuant thereto.
<br />Event of Default. The words "Event of Defeult" mean any of the events of default set forth in this Deed of Trust in
<br />the events of default section of this Deed of Trust.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to
<br />Lender, including 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,
<br />concentration or physical, chemical o� infectious characteristics, may cause or pose a present or potential hazard
<br />to human health or the environment when improperly used, treated, stored, disposed of, generated, manufactured,
<br />transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense and
<br />include without limitation any and ali hazardous or toxic substancas, materials or waste as defined by or listed
<br />under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum and
<br />petroleum by-products or any fraction thereof and asbestos.
<br />Improvements. The word "�mprovements" means all existing and future improvements, buildings, structures,
<br />mobile homes affixed on the Real Property, facilities, additions, replacements a�d ather construction on the Real
<br />Property.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses
<br />payable undar tha Note or Related Documents, together with all renewals of, extensions of, modifications of,
<br />consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by
<br />Lender to discharge Trustor's obligations or expenses incurred by Trustee or Lender to enforce Trustor's
<br />obligations undar this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.
<br />Specifically, without limitation, Indebtedness includes the future advances set forth in the Futute Advances
<br />provision, together with all interest thereon and all amounts that may be indirectly secured by the
<br />Cross-Collateralization provision of this Dead of Trust.
<br />Lender. The word "Lender" means Exchanga Bank, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated July 15, 2011 in the originat principal amount
<br />of $81,000.00 from Trustor to Lender, together with all renewals of, extensions of, modifications of,
<br />refinancings of, consolidations of, and substitutions for the promissory note or agreement.
<br />Personal Property. The words °Personal Property" mean all equipment, fixtures, and other articles of personal
<br />property now or hereafter owned by Trustor,' and now or hereafter attached or affixed to the Real Property;
<br />together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of sucfi
<br />property; and together with all proceeds (including without limitation all lnsurance proceeds and refunds of
<br />premiums) from any sale or other disposition of the PropeRy.
<br />Property. The word "Property" means collectively the Real Property and the Personai Property.
<br />M
<br />.a
<br />Real Property. The words "Real Property" mean the real properry, interests and rights, as further described in this
<br />Deed ot Trust.
<br />Related Documents. 7he words "Releted Documents" mean all promissory notes, credit agreements, loan
<br />agreements, env(ronmantal agreements, guaranties, security agreements, mortgages, deeds of trust, security
<br />
|