|
�O11A�595
<br />DEED OF TRUST
<br />{Continued) Page 7
<br />Cheice of Venue. 1f xhere is a lawsuit, Trustor agrees uport Lender's request io submit to the jurisdiction of the
<br />courts of Buffalo County, State of Nebraska.
<br />Mo Waiver by Lende�. Lender shali not be deemed to have waived any rights under this Deed ot Tn�st unless such
<br />waiver is given in writing and signed by Lender. No delay or omission on the part of l.ender in exercising any rigM
<br />shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust
<br />shall not prejudice or constftute a waiver of I.ender's righi otherwise to demand strict compliance with thai
<br />provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing
<br />between Lender and Trusto�, shall constitute a waiver of ar�y of Lender's rights or af any of 7rustor's obligations
<br />as to any future uansaciions. Whenever the conseni of Lender is required under this Deed of Trust, the granUng
<br />of such consent by Lender in arry instance sh�ll not constitute continuing oonsent to subsequen# instances where
<br />such consent is required and in alt cases such conserr[ may be grartted or withheld in the sole discrotion af Lender.
<br />Sevverrabil[ty. If a court of competent jurisdiction finds any provision of this Deed of 7rust ta be ilEegal, 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 modifled so
<br />thai it becomes legal, valid and enforceab[e. If the offending provision cannot be so modified, it shall be
<br />considered defeYed from this D�ed of Trust. UMess otherwise required by law, the illegality, invalidity, or
<br />unenforceability of any pravision of this Deed of Trust shall not affect the legatity, validity or enforceability of any
<br />other provision of this Deed of Trust.
<br />Suacessors and Assigns. Subject to any rmitations statad in this Deed af Trust on uansfer af Trustor's interest,
<br />this Deed of Tru&t shall be binding upon and inure to the benefit of the parties, iheir successors and assigns. If
<br />ownership of the Property becames vested in a person ather than Trustor, Lender, without nobce to Trustor, may
<br />deal with Trustor's successors with referertce to this Deed af Trust and the Indebtedness by way of forbearance ar
<br />extension without releasing Trustor irom the obligations of this Deed of Trust or Iiability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />Waive Jury. Ad parties to this Deed of Trust hereby waive the right to any jury trial in any action, proceeding, or
<br />cour►terclaim brought by any party agains+t any o�er garty.
<br />Waiver of Homestead Exemption. Trustor hereby releases and waives aU rights and benefrts of the homestead
<br />exemptio� laws of the State of Nebraska as to all lndebtedness secured by this Deed of Trust.
<br />dEFIWITIORFS. The faqowing capitalizsd words and terms shall have the following meanings when used in this Deed of
<br />Trust. Unless specifically statsd to the contrary, all references to dollar amounts shall mean amounts 3n Iawful money
<br />af the United States ot Ameriaa. Words and terms used in the singular shalt include the plural, and the plural shall
<br />include the singular, as the context may require. Words and terms not atherwise defined in this Deed of Trust shall
<br />have the meanings amibuted to such terms irs the Uniform Commercial Code:
<br />Senefiaiary. The word °Bene�ciary" means Exchange Bank, and tts successors and assigns.
<br />Borrower. The word "Borrower" means Encinger Enterprises, LLC and incfudes ail ca-signers and co-makers
<br />signir�g the Note and aEl their suacessors and asstgns.
<br />Deed of 7rust. 1'he wards "Dsed of 7rust" msan this Deed of Trust among Trusior, Lender, and 'Frustee, and
<br />includes without [imitation all assignment and security interest provisions relating to the Personal Property and
<br />Rents.
<br />Default. The word "Default" means the Detault set forth in this Deed of Trust in the section titled "Qefault°.
<br />Envirornnenxal Laws. The words "Environmental Laws° maan any and all state, federal and Ioaal statutes,
<br />regulations and ordinances relating to the pratection of human health or the environmerr[, including without
<br />timitation ihe Comprehensive Environmentat Response, Compensation, and Liability Act of 19$0, as amended, 42
<br />U.S.C. Sectian 9601, et seq. ("CERCIA'?, the Superfund Amendments and Reauthor�zation Act of 7986, Pub. L.
<br />No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 7803, et seq., the Resource
<br />Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applioa6le state or federal 1aws, rutes,
<br />or regulations adopted pursuant thereto.
<br />Event of Default The words "Event of Dafault" mean any of the events of deFault sst forth in this Deed of Trust in
<br />the everrts of default section of this DeeB �f Trust.
<br />Guararrty. The word "Guarenty" means the guaranty from guarantor, endorser, surety, ar accammodation party to
<br />Lender, including without Iimitation a guaraniy of all or part of the Note.
<br />Hazardous Substanc�s. The words °Hazardous Suhstances° mean materials that, because of their quantity,
<br />canCenaation or physical, Chemical or infectiaus characteristics, may cause or poss a present or potential hazard
<br />ta human health or the environmerrt when improperly used, treated, stored, dispose8 of, generated, manufactured,
<br />uansported ar otherwise handted. The words "Hazardous Substanaes° are used in their very broadest sense and
<br />include without limkation any and all hazardous or toxic substanaes, materials or wasie as defined by or Iisted
<br />under the Environmental Laws. The term "Hazardous Substances" atso includes, without limitation, petroleum and
<br />petroleum by-products or any fraction the�eof and asbestas.
<br />Improvemems. The word "Improvements° means aIl existing and firture improvements, buildings, structures,
<br />mobile homes affixed on the ReaE Property, facil'rties, additio�s, replacements and other aonstruation on the Real
<br />Property.
<br />[ndebtedness. 7he word "lndebtedness" means all principal, interest, and ot�er amounts, costs and expenses
<br />payable under the Note or Related Documerts, together wiih all renewals of, e�ctensions of, modifications of,
<br />consolidations of and substitutions for the Note or Related Documents and any amourrts expended or advanced by
<br />Lender to disaharge Trustor's obligations or expenses incurred by Trustee or Lender to snforce 7rustor's
<br />obligations under this Qeed of 7rust, tagether with interest on such amounts as provided in this Deed of Trust.
<br />Specifically, without timitation, Indebtedness inoludes the future advances set forth in the Future Advances
<br />provision, together wfth all interest thereort and all amounts that rr►ay be indirectly secured by the
<br />Cross-Collateralization provision of this Deed af Trast.
<br />Lender. The word "Lender° means Exchange Bank, its successors and assigns.
<br />Note. The word °Nate° means the promissory note dated October 11, 207 9, in the ariginal prmCipal
<br />amoun# 4f $57,504.00 from Trustor to Lender, tog�ther with all renewals of, extensions of, modifications af,
<br />refinancings of, consolidations of, and substitutions for the promissory nate nr agreement. IUDTiCE 70 7RUSTOR:
<br />THE IUQTE CQlVT'AINS A VARIABLE Ifl1TERE57 RATE.
<br />Parsonat Properiy. The words "Personal Propeny" mean all equipment, flxtures, and other articles of persanal
<br />property now or hereafter ownad by Trustor, and now or hereafter attached or affixed to the Real Properry;
<br />togather with alt accessions, parts, and additions io, all replacements of, and all substitutions for, any of such
<br />properry; and together with all proceeds ti�eluding without limitatian atl insurance p�oceeds and refunds af
<br />premiums) ftom any sale or other disposition of the Property.
<br />Propertyr. Tha word "Property" means collectively the Real PropeRy and tha Persanai Property.
<br />�� v
<br />
|