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99 �1065�
<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 policies 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. F'INANCIAL 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 ma� 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 �arty indebted under the obligation. These rights may include, but are not limited to, any
<br /> anti-deficiency or one-action laws. Trustor agrees that Beneficiary and any part� 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. 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 pernuts the
<br /> variations 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 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 m writmg. 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 revoiving 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 incuned 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. T'he 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 /> �Additional Terms.DEB'IC�RS WILL RETAIN A C�3ECKING AND SAVINGS ACCbiJNT AT TI� SANK OF
<br /> CLARKS FOR TI� PURPOSE OF RENT Cl7LLECTIONS AI�ID PAYMENrI' OF ALL EXPEDTSES REL�ATING
<br /> 'Il� TI�SE PROPERTIES.
<br /> SIGNATIJRES: 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 Instrument on the date stated on page 1.
<br /> X . .... .... . ... ....�............��.-r..�.�t ... ... .. � .�'......... ......................1.�-./.-�9
<br /> (Signature)EpV�RD H, CAUDILL III (Date) (Signature)'I1�TIA CAUDILL (Date)
<br /> ACKNOWLEDGMENT:
<br /> STATE OF Nebraska.................................. COUNTY OF f�....................................} ss.
<br /> ......lst......... da of........ Novernber�..1999.............
<br /> c``�"'a°�� This instrument was acknowledged before me this y
<br /> ............
<br /> by EDV�RD.H:_.CAUDILL.III.and.�A,CALTDILL..,,,HUSBAND.AND.WIFE
<br /> .................................... .
<br /> My commission expires: �—a_��r �j �
<br /> .�: ,�,..���..�.�.��:�..,............
<br /> (Notary Public)
<br /> 01994 Bankers Systems,Inc.,St.Cloud,MN 11•800397-2341) Form RE-DT-NE 10/27/97 (page 4 of 41
<br /> GENERA!NOiARY�State of Nebraska
<br /> II MAR�RET M.'QIC�.�!y
<br />. u„r„ i$_ �...�., �..,,. ,
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