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201107835 DEED OF TRUST Loan No: 810256 (COtttittued) Page 7 several,and afl references to Trustor shall mean each and every Trustor,and all referenees to Borrower shall mean each and every Borrower. This means that each Trustor signing below is responsible for all obligations in tfiis Deed of Trust. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing between Lender and Trusior,shall constitute a waiver of any of Lender's rights or of any of Trustor's obligations as to any future transactions. Whenever the consent ofi Lender is required under this�eed of Trust,.the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent insxances where such consent is required and in all cases such conseM may be granietl or withheld in the sole discretion of Lender. Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal,invalid,or unenforceable as to any person or circumstance,that finding shall not make the offending provision illegal,i�valid, or unenforceable as to any other person or circumstance. If feasible,the offending provision shall tie considered modified so that it becomes legal,valid and enforceable. If the offending provision cannot be so modified,it sfiall be considered deleted� from this Deed of Trust. Unless otherwise required by law, the illegality, invalid(ty, or unenforceability of any provision of this Deed of Trust shall not affect the legality,validity or enforceability of any other provision of this Deed of Trust. Successors and Assigns. Subject to any limitations stated in this Deed of Trust on Vansfer of Trustor's interest, this Deed of Trust shall be bindi�g upon and inure to the benefit of the parties,their successors and assigns. If ownership of the Property becomes vested in a person other than Trustor, Lender,without notice to Trustor,may deal with Trustor's successors with reference to this Deed of Trust and ttre lndebtedness by way of for6earance or extension without releasing Trustor from the obligations of this Deed of Trust or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance of this Deed of Trust. Waive Jury. All par,[i�s,.iomthis.,.Q,e.ed�of�T.r=ust:hereby wai�e the right to any jury trial in any action,proceedmg,or counterclaim-brough�by any parfy ageinsfi a�y o:ther par[y. Waiver of Homes#e�si,-L-�y"xemption��;.Trustor heieby releases and waives all rights antl beneflts of the homestead exemption�laavs,nf*hP�Siate:,o�iil��:r,askaas-to�a�l Indebtedness secured by this Deed of Trust. DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in thls Deed of Trust. Unless specifically stated To the co�trary,all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in.the singular shall include the plura:l, and the plural shall include the singular, as the context may require. Words and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code: Beneficiary. The word"Beneficiary"means Equitable Bank,and its successors and assigns. Borrower. The wottl"Borrower"means DAVID L LARSON and CATHERINE M LARSON and includes all Go-signers and co-makers signing the Note and all their successors and assigns. Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without limita4ion all assignment and security interest provisions relating to the Personal Properry and Rents. Default. The word"Default"means the Default set forth in this Deed of Trust in the section titled"DefaulY'. Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to the protection of human health or the environment, indudi'ng without limitation the Comprehensive Environmental Response, Compensation,and Liability Act of 1980,as amended,42 U.S.C.Section 9601,et seq. ("CERCLA"1,the Superfund Amendments and Reauthorization Act of 1986,Pub. L. No.99-499("SARA"),the Hazardous Materials Transportation Act,49 U.S.C.Section 1801,et seq.,the Resource Conservation and Recovery Act,42 U.S.C.Section 6901,et seq.,or other applicable state or federal laws,rules, orregulations adopted pursuantthereto. Event of Default. The words"Event of DefaulY'mean any of the events of default set forth in this Deed of Trust in the events of default sectio�af this Deed of Trust. Guaranty. The word"Guaranty"means the guaranty from guarantor,endorser,surety,o�accommodation party to Lender,including without limitation a guaranty of all or part of the Note. Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical,chemical or infectious characteristics, may cause or pose a present or potential hazard to huma�health or the environment when improperly used,treated,stored,disposed of,generated,manufactured, transported or otherwise handled. The words"Hazardous Su6stances" are used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materiais or waste as tlefined by or listed under the Environmental Laws. The term"Hazardous Substances" also includes,without limitation,petroleum and petroleum by-products or any fraction thereof and asbestos. Improvements. The word "Improvements" means all exisiing and future improvements, buildings, structures, mobile homes affixed on the Real ProperYy, facilities, additions, replacements and other construction on the Real Property. Indebtedness. The word "Indebtedness" means all principal, interest, and other amaunts, costs and expenses payable under the Note or Related DocumeMS, together with all renewals of, extensions of, modificaiions of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Trustor's obligations or expenses incurred by Trustee or Lender to enforce Trustor's obligations under this Deed of Trust,together with interest on such amounts as provided in Yhis Deed of Trust. Specifieatly, without limitation, indebtedness includes the future advances set forth in the Futu�e Advances provision, together with. all interest thereon and all amounts that may be indirectly secured by the Cross-C011ateralization provision of this Deed of Trust. � Lender. The word"Lender"means Equita6le Bank,its seccessors and assigns. Note. The word "Note" means the promissory note dated October 18, 2011, in the OY1911181 pPlitCtpal amount of 585,000.00 from Borrower to Lender;Yogether with all renewals of,extensions of,modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. NOTICE TO TRUSTOR: THE NOTE CONTAINS A VARIABLE INTEREST RATE. Personal Properiy. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Trustor, and now or hereafter a'ttached or affixed to the Real Property; together with all accessions, parts, and additions to,. all replacements of, and all su6stitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of premiumsl from any sale or other disposition of the Property.