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DEED OF TRUST 2 p��. 0'7 2 5 �
<br />(Continued) Qa9e �
<br />considered deletad from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or
<br />unenforceability of any provision af this Deed of Trust shall not affect the iegality, validity or enforceability of any
<br />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,
<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 e person other than Trustor, Lender, without notice to Trustor, may
<br />deal with TrusYor'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 undar the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performence of this Deed of Trust.
<br />Waive Jury, All parties to this Deed of Trust hereby waive the right to eny jury trial in any action, proceeding, or
<br />counterclaim brought by any party against any other party.
<br />Waiver of Homestead F�cemption. Trustor hereby releases and wsives all rights and benefits of the homesYead
<br />exemption laws of the State of Nebraska as to all Indebtedness secured by this Deed of 7rust.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of
<br />Trust. Unfess specifically stated to the contrary, all references to dollar amounts shail mean amounts in lawful money
<br />of the United SYates of America. Words and terms used in the singular shall include 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 />Benefciary. The word "Beneficiary" means Exchange Bank, and its successors and assigns.
<br />Borrower. The ward "Borrower° means Rhoads Enterprises, Inc. and includes all co-signers and co-makers signing
<br />ihe 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, artd
<br />includes without limitation all assignment and security interest provisions relating to the Personal Property and
<br />Rents.
<br />Default. The word "Dafault" means the Defautt set forth in this Deed of Trust in the section titfed "Default".
<br />Environmental Laws, The words "Environmental Laws" mesn any and all state, federal and local statutes,
<br />regulations and ordinances relating to the protection of human health or the environment, including without
<br />IimiYation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42
<br />U.S.C. Section 9601, et seq. ("CERCLA"1, tha Superfund Amendments and Reauthorization Act of 1986, Pub. L.
<br />No. 99-499 ("SARA"1, the Hazardous Materials Transportation AFt, 49 U.S.C: S�ction 1"SQ1, �t seq. the Resource
<br />Conservation and Recovery Act 42 U.S.C. Section 6901, et s�q.v or or:�federal laws, rules,
<br />or regulations adopted pursuant thereto, + ; , ' ��� ,,,� , ,u�y �, .- � _
<br />Event of Default. The words "Event of Default" mean any of the events of dafault se't`�o�f'i`in fNis'i�eed 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 ihe Note.
<br />Hazardous Substances. The words "Nazardous Substances" mean materials that, because of their quantity,
<br />concentration or physical, chemical or infectious characteristics, may cause or pose a prasent or potential hazard
<br />to human health or the environment when improperly used, treated, stored, dispos�d of, generated, manutactured,
<br />transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense and
<br />include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed
<br />under the �nvironmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum and
<br />petrolaum by-products or any fraction thereof and asbestos.
<br />Improvements. The word "Improvements" means aff existing and future improvements, buildings, structures,
<br />mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real
<br />Property.
<br />ind�btedness. The word "Indebtedness° means all principal, interest, and other amounts, costs and expenses
<br />payable under tha IVota or Related Documents, together with all renewats of, extensions of, modifications of,
<br />consolidatians 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 under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.
<br />Lender. The word "Lender" means Exchange Bank, its successors end assigns.
<br />Note. The word "Note" means the promissory note dated September 16, 2011, 1n the original principat
<br />amount of $105 ,000.00 from Trustor to Lender, together with all renewals of, extensions of, modifications
<br />of, refinancings of, consolidations of, and substitutions for the promissory note or agreemen4.
<br />Personat Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal
<br />property now or hereafter owned by 7rustor, and now or hereafter attached or affixed to the Real Proparty;
<br />together with ali accessions, parts, and additions to, all replacements of, and all substitutions for, any of such
<br />property; and together with all proceeds lincluding without timitation afl insurance proceeds and refunds of
<br />premiums) from any sale or other disposition of the Property.
<br />Property. The word °Property° means collectively the Real Property and the Personal Praperty.
<br />Real Property. The words "Real Property° mean the real property, interes#s and rights, as further described in this
<br />Deed ofi Trust. �
<br />Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan
<br />agreements, environmental agreaments,- guarenties; security agreements, mortgagss, deeds of trust, security
<br />deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter
<br />existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and
<br />other benefits derived from the Property.
<br />Trustee. 7he.word "Trustee" means Exchange Bank, whose address is P.O. Box 760, Gibbort, IVE 68840 and any
<br />substitute or successor trustees.
<br />Trustor. The word "Trusfar" means Rhoads Enterprises, Inc..
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