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<br /> ' waive a default if Lender chooses not to use a remedy. By electing not to use any remedy, Lender does not
<br /> waive Lender's right to later consider the event a default and to use any remedies if the default continues or
<br /> happens again.
<br /> 15. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the extent permitted by law,
<br /> Grantor agrees to pay all expenses of collection, enforcement or protection of Lender's rights and remedies
<br /> under this Security Instrument. Grantor agrees to pay expenses for Lender to inspect and preserve the Property
<br /> and for any recordation costs of releasing the Property from this Security Instrument. Expenses include, but are
<br /> not limited to, attorneys' fees, court costs and other legal expenses. These expenses are due and payable
<br /> immediately. If not paid immediately, these expenses will bear interest from the date of payment until paid in full
<br /> at the highest interest rate in effect as provided for in the terms of the Secured Debts. To the extent permitted
<br /> by the United States Bankruptcy Code, Grantor agrees to pay the reasonable attorneys' fees Lender incurs to
<br /> collect the Secured Debts as awarded by any court exercising jurisdiction under the Bankruptcy Code.
<br /> 16. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br /> means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act
<br /> (CERCLA►, all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions
<br /> or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and
<br /> (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant
<br /> which has character+stics which render the substance dangerous or potentially dan.gerous to the pub.lic health,
<br /> safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous
<br /> material," "toxic substance," "hazardous waste," "hazardous substance," or "regulated substance" under any
<br /> Environmental Law.
<br /> Grantor represents, warrants and agrees that:
<br /> A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance is or will
<br /> be located, stored or released on or in the Property. This restriction does not apply to small quantities of
<br /> Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of
<br /> the Property.
<br /> B. Except as previously disclosed and acknowledged in writing to Lender, Grantor and every tenant have
<br /> been, are, and will remain in full compliance with any applicable Environmental Law.
<br /> C. Grantor will immediately notify Lender if a release or threatened release of a Hazardous Substance occurs
<br /> on, under or about the Property or there is a violation of any Environmental Law concerning the Property. In
<br /> such an event, Grantor will take all necessary remedial action in accordance with any Environmental Law.
<br /> D. Grantor will immediately notify Lender in writing as soon as Grantor has reason to believe there is any
<br /> pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any
<br /> Hazardous Substance or the violation of any Environmental Law.
<br /> 17. CONDEMNATION. Grantor will give Lender prompt notice of any pe�ding or threatened action by private or
<br /> public entities to purchase or take any or all of the Property through condemnation, eminent domain, or any
<br /> other means. Grantor authorizes Lender to intervene in Grantor's name in any of the above described actions or
<br /> claims. Grantor assigns to Lender the proceeds of any award or claim for damages connected with a
<br /> co�demnation or other taking vf ait vr arry-part-ofi the�raperty. Sach proceeds w'r+i be considered payments and
<br /> will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of
<br /> any prior mortgage, deed of trust, security agreement or other lien document.
<br /> 18. INSURANCE. Grantor agrees to keep the Property insured against the risks reasonably associated with the
<br /> Property. Grantor will maintain this insurance in the amounts Lender requires. This insurance will last until the
<br /> Property is released from this Security Instrument. Grantor may choose the insurance company, subject to
<br /> Lender's approval, which will not be unreasonably withheld. All insurance policies and renewals will include a
<br /> standard "mortgage clause" and, where applicable, "loss payee clause."
<br /> Grantor will give Lender and the insurance company immediate notice of any loss. All insurance proceeds will be
<br /> applied to restoration or repair of the Property or to the Secured Debts, at Lender's option. If Lender acquires
<br /> the Property in damaged condition, Grantor's rights to any insurance policies and proceeds will pass to Lender to
<br /> the extent of the Secured Debts.
<br /> Grantor will immediately notify Lender of cancellation or termination of insurance. If Grantor fails to keep the
<br /> Property insured Lender may obtain insurance to protect Lender's interest in the Property. This insurance may
<br /> include coverages not originally required of Grantor, may be written by a company other than one Grantor would
<br /> choose, and may be written at a higher rate than Grantor could obtain if Grantor purchased the insurance.
<br /> 19. ESCROW FOR TAXES AND INSURANCE. Grantor will not be required to pay to Lender funds for taxes and
<br /> insurance in escrow.
<br /> 20. CO-SIGNERS. If Grantor signs this Security Instrument but does not sign the Secured Debts, Grantor does
<br /> so only to convey Grantor's interest in the Property to secure payment of the Secured Debts and Grantor does
<br /> not agree to be personally liabl� on the Secured Debts, If this Securi#y_Instrument secures.a guaranty between
<br /> Lender and Grantor, Grantor agrees to waive any rights that may prevent Lender from bringing any action or
<br /> claim against Grantor or any oarty indebted under the obligation. These rights may include, but are not limited
<br /> to, any anti-deficiency or one-action laws.
<br /> 21. SUCCESSOR TRUSTEE. Lender, at Lender's option, may from time to time remove Trustee and appoint a
<br /> successor without any other formality than the designation in writing. The successor trustee, without
<br /> conveyance of the Property, will succeed to all the title, power and duties conferred upon Trustee by this
<br /> Security Instrument and applicable law.
<br /> 22. WAIVERS. Except to the extent prohibited by law, Grantor waives all appraisement and homestead
<br /> exemption rights relating to the Property.
<br /> 23. APPLICABLE LAW. This Security Instrument is governed by the laws of Nebraska, except to the extent
<br /> otherwise required by the laws of the jurisdiction where the Property is located, and the United States of
<br /> America.
<br /> 24. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Grantor's obligations under this Security
<br /> Instrument are independent of the obligations of any other Grantor. Lender may sue each Grantor individually or
<br /> together with any other Grantor. Lender may release any part of the Property and Grantor will still be obligated
<br /> JEFFREY S. WESTERBY
<br /> Nebraska D��d Of Trust Initi
<br /> NEI2heerc057C000000000000007 200000013n4 °1996 Bankers Svstems,Inc.,St.Cloud,MN Paae 3
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