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201108125
<br /> DEED OF TRUST
<br /> (Continued) Page 8
<br /> used to interpret or define the provisions of this Deed of Trust.
<br /> Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or
<br /> estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent
<br /> of Lender.
<br /> Governing Law. This Deed of Trust wili be governed by federal law applicable to Lender and, to the extent not
<br /> preempted by federal law,the laws of the State of Nebraska without regard to its confiicts of law provisions. This
<br /> Deed of Trust has been accepted by Lender in the State of Nebraska.
<br /> Joint and Several Liability. All obligations of Trustor under this Deed of Trust shall be joint and several, and all
<br /> references to Trustor shall mean each and every Trustor. This means that each Trustor signing below is
<br /> responsible for all obligations in this Deed of Trust.
<br /> No Waiver by Lender. Trustor understands Lender will not give up any of Lender's rights under this Deed of Trust
<br /> unless Lender does so in writing. The fact that Lender delays or omits to exercise any right will not mean that
<br /> Lender has given up that right. If Lender does agree in writing to give up one of Lender's rights, that does not
<br /> mean Trustor will not have to comply with the other provisions of this Deed of Trust. Trustor also understands
<br /> that if Lender does consent to a request, that does not mean that Trustor will not have to get Lender's consent
<br /> again if the situation happens again. Trustor further understands that just because Lender consents to one or more
<br /> of Trustor's requests, that does not mean Lender will be required to consent to any of Trustor's future requests.
<br /> Trustor waives presentment,demand for payment, protest,and notice of dishonor.
<br /> Severability. If a court finds that any provision of this Deed of Trust is not valid or should not be enforced, that
<br /> fact by itself will not mean that the rest of this Deed of Trust will not be valid or enforced. Therefore, a court wili
<br /> enforce the rest of the provisions of this Deed of Trust even if a provision of this Deed of Trust may be found to be
<br /> invalid or unenforceable.
<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 shali 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 pertormance of this Deed 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 Nebraska as to all Indebtedness secured by this Deed of Trust.
<br /> DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust:
<br /> Beneficiary. The word"Beneficiary"means BANK OF THE WEST, and its successors and assigns.
<br /> Borrower. The word "Borrower" means SEAN M HANSEN and JANET A HANSEN and includes ail co-signers and
<br /> co-makers signing the Credit Agreement and all their successors and assigns.
<br /> Credit Agreement. The words "Credit AgreemenY' mean the credit agreement dated October 8, 2011, wlth
<br /> credit limit of$15,000.00 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. The maturity date of
<br /> this Deed of Trust is October 14, 2036. NOTICE TO TRUSTOR: THE CREDIT AGREEMENT CONTAINS A
<br /> VARIABLE INTEREST RATE.
<br /> Deed of Trust. The words "Deed of TrusY' mean this Deed of Trust among Trustor, Lender, and Trustee, and
<br /> inciudes without limitation all assignment and security interest provisions relating to the Personal Property and
<br /> Rents.
<br /> Environmental Laws. The words "Environmental Laws" mean any and all state, federal and Iocal statutes,
<br /> regulations and ordinances relating to the protection of human health or the environment, 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. ("CERC�A"), the Supertund 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 pursuant thereto.
<br /> Event of Default. The words"Event of DefaulY'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 /> Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens
<br /> provision of this Deed of Trust.
<br /> Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity,
<br /> concentration or physicai, 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 and all hazardous or toxic substances, materials or waste as defined by or listed
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