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99 11224g <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. 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, dehver, 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 BOiJND. All duties under <br /> . this Security Instrument are joint and individual, if Trustor siens this Security Instniment 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 ri�ts 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 hmited to, any <br /> anti-deficiency 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. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is govemed 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 /> vaziations 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 singulaz shall include the plural and the plural the singulaz. The captions and headings of the sections of this Security <br /> Instrument are for convenience only and are not to be used to mterpret 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 designahon m wrrtmg. T'he successor trustee, without conveyance of <br /> the Property, shall succeed to all the title, power and duties confened upon Trustee by this Security Instrument and <br /> applicable law. <br /> 25. NOT`ICE. 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 /> ❑ �xture 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 cazbon, 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 /> ❑ Additional Terms. <br /> SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any <br /> attachments. Trustor also ac owledges receipt of a copy of this Security Instrument on the date stated on page 1. <br /> X...........!.�. . .......... X �/!� (�K� <br /> .... .. ............................. .............. . .. ...........,��.......................... <br /> (Signature)MAR , HQCx (Date) (Signature)LpRI HOC�C (Date) <br /> ACKNOWLEDGMENT: <br /> STATE OF IVEBR�.SKA................................. COUNTY OF MERRICK.......................................} ss. <br /> o�a+��a��> �is instrument was acknowledged before me this ......23�....... day of..........D�BER,.,1999,,,,,,,,,,,,, <br /> by T!fARC,J.,,HOC;�,AND,UJRI,HOCK,..HCTSBAND,AND,WIFE <br /> ..,.,....... .. .. .. .......�................. . <br /> My commission expires: � / <br /> ,� / � � / -. <br /> ..... . ... ..�'��7�,:.. ... L�1..�.:t��-: ................. <br /> � (Notary Public) <br /> 01994 Bankers Systems,Inc.,St.Cloud,MN 11-8 003 9 7-2 3 41) Form RE-OT-NE ioiz�is� . (page 4 of 4) <br /> ••��."•'E���• LYNN BARCIAY <br /> :•'`�:°="`:.: MY COMMISSION EXPIRES <br /> ��.qe�. <br /> � ''.�p�,;;5`�,; August 4,2003 <br />