|
DEED OF TRUST
<br />Loan No: 129695 (COntinued) 2 0110'7 31 O Page 7
<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 person or circumstance, that finding shall not make the offending provision illegal, invalid,
<br />or unenforceable as to any other person or circumstance. If feasible, the offending provision shall be considered
<br />modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shail
<br />be considared 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 Asslgns. Subject to any limitations stated in this Deed of Trust on trensfer 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 Daed of Trust.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead
<br />exemption laws of the State of Nebreska 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 Deed of
<br />Trust. Unless specifically stated to the contrery, all references to dollar amounts shell mean amounts in lawful money
<br />of the United States 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 attributad 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 Charles R Winkler and Doris L Winkler and includes all co-signers and
<br />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 assfgnment 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 of Trust in the section titled "Default".
<br />Environmental Laws. The words "Environmentel Laws" mean any and all state, federal and local statutes,
<br />regulations and ordinencas relating to the protection of human health or the ertvironment, including without
<br />limitation the Comprehensive Environmental Response, Compensation, and Liability Act °of 1980, as-amended, 42
<br />U.S.C. Section 9601, et seq. ("CERCLA°1, the Superfund Amendments end ReauthoPization Act ot 1�986, Pub. L.
<br />No. 99-499 ("SARA"), the Hazardous Meterials Transportation Act, 49 1J.S.C:..Section.78Q7, et seq., #he Resource
<br />Conservation end Recovery Act, 42 U.S.C. Sectlon 6901, et seq., or ather applicable state or federal laws, rules,
<br />or regulations adopted pursuant 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 />Guaranty. The word "Gueranty" means the guaranty from guarantor, endorser, surety, or accommodetion party to
<br />Lender, including without limitation a guaranty of ell or pert of the Note.
<br />Hazardous Substances. The words "Hezerdous Substances" mean materials that, because of their quantity,
<br />concentration or physical, chemical or 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 end all hazardous or toxic substances, materials or waste as defined by or listed
<br />under the Environmental Lews. The term "Hazerdous Substances° also includes, without limitation, petroleum and
<br />petroleum by-products or any frection thereaf and esbestos.
<br />Improvements. The word "Improvements" means all existing and future improvements, buildings, structures,
<br />mobile homes affixed on the Real Property, facilities, edditions, replacements and other construction 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 Related Documents, together with all renewals of, extensions of, modifications of,
<br />consolidations of and substitutions for the Note ar 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 />Specifically, without limitation, Indebtedness includes the future edvan�es � set forth in the Future Advances
<br />provision, together with all interest thereon and ell 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 September 29, 2011, In the original principal
<br />amount of $110 ,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 agreement. NOTICE TO
<br />TRUSTOR: THE NOTE CONTAINS A VARIABLE INTEREST RATE.
<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, end additions to, all replacements of, and eil substitutions for, any of such
<br />property; and together with all proceeds (including without limitation ail 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 Properry.
<br />Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this
<br />Deed of Trust.
<br />Related Documents. The words °Related Documents" mean all promissory notes, credit agreements, loan
<br />agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security
<br />daeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter
<br />existing, axecuted 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. The word "Trustee" means CORNERSTONE BANK, whose address is 529 LINCOLN AVENUE, YORK, NE
<br />68467 and any substitute or successor trustees.
<br />Trustor. The word "Trustor" means Charles R�nkler and Doris L Winkier.
<br />����2/
<br />
|