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200301560 D. Tmstor shall immediately notify Beneficiary in writing as soon as '1'rustor has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Environmental Law. 12. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Tmstor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 13. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual_ If Toaster signs this Security lnshumen[ but does not sign an evidence of debt, Tmstor does so only to mortgage Tmstor's interest in the Property to secure payment of the Secured Debt and Tmstor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and 'truster, Truster agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against'trustor or any party indebted under the obligation. These rights may include, but are not limited to, any anti-deficiency or one - action laws_ The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Tmstor and Beneficiary. 14. SEVERABILITY; INTERPRETATION. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or imprredly permits the variations by written agreemenl_ If any section of this Security Instrument cannot be e hayed according to its terns, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include the Plural and the plural the singular_ The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the leans of this Security Instrument. Time is of the essence in this Security Instrument. 15. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove trustee and appoint a successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and applicable hew. 16. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page I of this Security Instrument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all Iambus 17, W VE S qt to Iho ex,[e n)hibind b law, Ttostor walyoas ell a raiocm and from cad ex em lion ri hts relating to the Property. 18. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. 19. APPLICABLE LAW. 'This Security Instrument is governed by the laws as agreed to in the Secured Debt, except to the extent required by the laws of the jurisdiction where the Property is located, and applicable federal haws and regulations. 20. RIDERS. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terns of this Security Instrument [Check all applicable boxes] 0 Assignment of Lewes and Rents =Other 21. =CONSTRUCTION LOAN. This Security Instrument is a construction security interest which secures an obligation incurred for the construction of an improvement on the Property. 22. = ADDITIONAL TERMS. SIGNATURES: By signing below, 'Tmstor agrees to the terms and covenants contained in this Security Inshument and in MY attachments. Tmstor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. (Sign e)TACK D STRATMAN (Dam) (Slgnat re) ANNETTE L STRATMAN (Dare) ACKNOWLEDGMENT STA'fEOF Nebraska COUNTY OF Hall as 11w�wm,.n This inslmmeaI was acknowledged before me this6th day of February 2003 by JACK D STRATMAN and ANNETTE L STRATMAN My rommissen ex res'. OEIFAAI NOTAB'I•SpleMNmleslo� - _ U IfATHMYNADE8PIN8 � Mohr eom o) my Onnnnem. - (D 19W eankme System, Inc, SI. CIOW, MN Fmm nePREDTNE 1/13199 (page 4 & 4) 4Z- C465(NE) (9902)92