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<br />unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to
<br />the Secured I)cbt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not
<br />extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid
<br />to the Grantor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting
<br />from damagc to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br />before fie acquisition.
<br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any
<br />financial siamneut or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any
<br />additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's
<br />obligations under this Security Instrument. and Beneficiary's lien status on the Property.
<br />22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br />this Security Instrument are joint and incliviclual. If Trustor signs this Security Instrument but does not sign an evidence of
<br />debt, TrUtilor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and
<br />Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between
<br />Beneficiary' and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim
<br />against 'ft ustor or any party indebted under the obligation. These rights may include, but are not limited to, any
<br />anti- delicienev or one - action laws. Trustor agrees that Beneficiary and any party to this Security Instrument may extend,
<br />modify or make any change in the terms of this Security Instrument or any evidence of debt without Trustor's consent.
<br />Such a change will not release Trustor from the terms of this Security Instrument. The duties and benefits of this Security
<br />Instrument shall bind and benefit the successors and assigns of Trustor and Beneficial.
<br />23. APPLICA1;1,F, LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the
<br />jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where
<br />the proprnv is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be
<br />amended ur modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to
<br />the Sc�urcd Urbt that conflicts with applicable law will not be effective, unless that law expressly or impltedly permits the
<br />varmnou, by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that
<br />section will be severed and will not affect. the enforceability of the remainder of this Security Instrument. Whenever used,
<br />the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security
<br />Instrument arc for convenience only and arc not to be used to interpret or define the terms of this Security Instrument.
<br />Time is of the essence in this Security Instrument.
<br />24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a
<br />successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of
<br />the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and
<br />applicable law.
<br />25. NOTICE. unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail
<br />to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing.
<br />Nuticc to one frustor will be deemed to be notice to all trustors.
<br />26. 'tN/Mi:KS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights
<br />relatine io fir Property.
<br />27. O'1'lil?R TFIt.VIS. If checked, the following arc applicable to this Security Instrument:
<br />fXl Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be
<br />rectuccct to a zero balance, this Security Instrument will remain in effect until released.
<br />❑ Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement
<br />on the Property.
<br />❑ Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future
<br />ucl ii�u arc or will become fixtures related to the Property. This Security Instrument suffices as a financing
<br />siaicmcnt and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the
<br />tInifornt ConunereialCode.
<br />11 kiiiers. The covenants and agrccmcuts of each of the riders checked below are incorporated into and supplement and
<br />amend tic tenns of this Security lusirumeut. [Check all applicable boxes]
<br />❑ Condominium Rider ❑ Planned Unit Development Rider ❑ Other ................... ...............................
<br />❑ Additional Terms.
<br />SIGNATUltkS: by signing below, Trustor agrees to the terns and covenants contained in this Security Instrument and in any
<br />au.acluuenrti. 'i ruslor also acknowledges receipt of a copy of this Security Instrument on the date stated onpage 1.
<br />./CIO ............... ...........
<br />.. �. ............................
<br />(Signalurc) Robert Padgett (Date) (Signature)1e Padgett (Date)
<br />ACKNONVLFI) ;MENT:
<br />S' I'M I` OF Nebraska ...... ............................... COUNTY OF Hall................. ..............................} ss.
<br />('°d` d,,O) This instrument was acknowledg - -cd before me this ......... ]st........ day of ............. ....AIMAL.799.I................
<br />t)v Rob,ert padgett; Julie,Padgett,,Husband and. Wife
<br />�Iv couutlission expires: .��........'..�_
<br />GALNOTARY•Staleof Ncr,.,rw c ,/ ..........
<br />MIC tHppELLE L. HUPJT (Notary Public) ( "Ig94 6, ; 1 -�c; Sp -; t, �-r'Ei ' 01114�T h)� E -DT -NE 10/27/97 %9e 4 Of 4�
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