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200010993
<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 Debt, 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 olicies and proceeds resulting
<br />from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br />before the 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 statement 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 individual. If Trustor signs this Security Instrument but does not sign an evidence of
<br />debt, Trustor 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 Trustor or any party indebted under the obligation. These rights may include, but are not limited to, an y
<br />an ti- deficiency or one- acttor. la 11a, Beneficiary and any pa: to this purity- Instrument may extend,
<br />modify or make any change in the terms of this Securit Instrument or an y evidence of debt without Trustor's consent.
<br />Such a chan ge will not release Trustor from the terms ofythis 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. APPLICABLE 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 Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be
<br />amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to
<br />the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the
<br />variations by written agreement. If an section of this Security Instrument cannot be enforced according to its terms, that
<br />section will be severed and will not aff ct 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 are for convenience only and are 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 />Notice to one trustor will be deemed to be notice to all trustors.
<br />26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights
<br />relating to the Property.
<br />27. OTHER TERMS. If checked, the following are applicable to this Security Instrument:
<br />❑ Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be
<br />reduced 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 />and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing
<br />statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the
<br />Uniform Commercial Code.
<br />❑ Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and
<br />amend the terms of this Security Instrument. [Check all applicable boxes]
<br />❑ Condominium Rider ❑ Planned Unit Development Rider ❑ Other ................... ...............................
<br />XX Additional Terms. If an installment paym �t is not paid by the due date, the bank
<br />Tay charge an interest rate equal to the post maturity rate on the outstanding
<br />loan balance until the loan is in a current status.
<br />SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any
<br />attachments. Trustor also acknowledges receipt of a copy of this Security trument on the date stated on page 1.
<br />t 4, .. .............. .. ��: �: DU
<br />4� (Sig ature) RUB1;i2T W. CUMMIrTGS (Dare) (Signature) PATTY C[UM�IINGS (Date)
<br />ACKNOWLEDGMENT:
<br />STATE OF Nebraska.,,,,,,,_.. ............. COUNTY OF.. HALL . .. ............................. ...............} ss.
<br />(Individual) This instrument was acknowledged before me this ......20th...., day of .......... December 2000
<br />........................ ...
<br />. ...................... . ..
<br />by ROBERT W; CUI\M�iNGS and PATTY C[JMMINGS, AS HUSBAND AND WIFE
<br />My commission expires: _
<br />GENERAL NOTARY -State of Nebraska J,. ; Af( ect
<br />MICHELLE L. HUNT (Notary Public)
<br />01994 Bankers Systems, in Comm. t:xp. Au . 16, 2003 a 10i27i97
<br />(page 4 of 4)
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