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�- � �; �- DEED OF TRUST �, p 11 p s �� 4
<br />Loan No: 128494 " � ` -
<br />(Continued) Page 7
<br />Joint and. Several Liability. All obligations of Borrower and Trustor under this Deed of Trust shall be joint and
<br />several, and all references to Trustor shell mean each and every Trustor, and all references to Borrower shall mean
<br />each and every Borrower. This means that each Trustor signing below is responsible for all obligations in this Deed
<br />of Trust.
<br />Na Waiver by Lender. Lender shall not be deemed to have weived any rtghts under this Deed of Trust unless such
<br />walver 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 such right or eny other right. A waiver by Lender af a provision of this Deed of Trust
<br />shall not prejudice or canstitute a waiver of Lender's right otherwise to demand strict compliance with that
<br />provisian or any other provision of this Deed of Trust. No prior waiver by Lender, nor eny course of dealing
<br />between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustor's obligations
<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 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
<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 legali,ty, velidity or enforceability of any
<br />other provision of this Deed of Trust.
<br />Successors and Assigns. Subject to any limitations stated in thls Deed of Trust on transfer of Trustor's interest,
<br />this Deed of Trust 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 Deed 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 performance of this Deed of Trust.
<br />Waiver of Homestead F�cemption. Trustor hereby releases and wa(ves all rights and benefits of tha homestead
<br />exemption laws of the State of Nebraska es to all Indebtedness secured by thls Deed of Trust.
<br />DEFINITIONS. The -following capitalized words and terms' shall have the following meanings when used in this Deed of
<br />Trust. •Unless specificelly stated to the contrary, ell references to dollar amounts shall mean amounts in lawful money
<br />of the United States of America. Words and tarms 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 />Beneficiary. The word "Beneficiary° means CORNERSTONE BANK, and its successors and assigns.
<br />Borrower. The word "Borrower" means MJR INC., Timothy L McMullen and Troy M. Javorsky and includes all
<br />co-signers and 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
<br />includes without limitation all assignment and security interest provESions relating to the Rersonal Property and
<br />Rents, �
<br />Default. The word "Default" means the Default set forth in this Deed of Trust in the section titled "Default".
<br />Environmental Laws. The words °Environmantal Laws" mean -any and all stet�; federal and local statutes,
<br />regulations and ordinances releting to the protection of : human health or the , eriVironment, including without
<br />limitation tha Comprehensive Environmental Response, Compensation,:and Liability Act of 1980, as amended, 42
<br />U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments'and Reauthorization 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 />or regulations adopted pursuent thereto.
<br />Event of Default. The words "Event of Default° 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 />Exlsting Indebtedness. The words "Existing Indebtedness" rriean the indebtedness described in the Existing Liens
<br />provision of this Deed of Trust.
<br />Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of eny or all of the
<br />Indebtedness.
<br />Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitetion a
<br />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 or infectious characteristics, may cause or pose a present or potentiel hazard
<br />to human health or the environment when improperly used, treated, stored, disposad of, generated, manufactured,
<br />transported or otherwise handled. The words "Hazardous Substances° are used in their very broedest sense and
<br />include without limitation any and all hazerdous or toxic substances, materials or waste as defined by or listed
<br />under the Environmental Laws. The term "Hazardous Substances" also tncludes, without limitetion, petroleum and
<br />petroleum by-products or any fraction thereof and asbestos.
<br />Improvements. The word "Improvements° means all existing and future improvements, buildings, structures,
<br />mobile homes affixed on the Real Ptoperty, feciltties, additlons, replacemer�ts and other constructian on the Real
<br />Property.
<br />Indebtedness. The word "Indebtedness° means all principal, interest, and other amounts, costs and expenses
<br />payable under the Note or Releted Documents, together with all renewals of, extensions of, modifications of,
<br />consolidations of and substitutions for the Note or Releted 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 under 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 Future Advances
<br />provision, together wlth all interest thereon and ali amounts that may be indirectly secured by the
<br />Cross-Collateralization provision of this Deed of Trust.
<br />Lender. The word °Lender" means CORNERSTONE BANK, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated August 10, 2011, i� the original principal
<br />amount of 5210 ,000.00 from Borrower to Lender, together with all renewels of, extensions of, modifications
<br />of, refinancings of, consolidations of, end substitutions for the prom'issory 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, ail replacements of, and all substitutions for, any of such
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