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200302049
<br />D.'frusmr shall immediately notify Beneficiary in writiu� as soon as Truster has reason to believe there is anyp pending
<br />or threatened investigation, Gain, or proceeding relating m the release or threatened release of any flaurdous
<br />Substance or the violation of any Environmental Law.
<br />12. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Tmsmr will not be
<br />required to pay m Beneficiary funds for taxes and insurance in escrow.
<br />13. JOINT AND INDIVIDUAL LIABDSIYi CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br />this Security Instrument are joint and individual. If Tmsmr signs this Security Instrument but does not sign an evidence of
<br />debt, Tmstor does so only m mortgage Torsion's interest in the Property, to secure payment of the Secured Debt and
<br />Tmsmr does not agree to a personally liable on the Secured Debt. If this Security Instrument secures a guatamy between
<br />Beneficiary and Tmstor, Truster agrees to waive any rights that may prevent Beneficiary from bringing any action or claim
<br />against Truster or any Party indebted under the obligation. These rights may include, but are not limited to, any
<br />auti-deficiency or one -admit laws. The duties and benefits of this Security Instrument shall bind and benefit the successors
<br />and assigns of Tmstor and Beneficiary.
<br />14. SEVERABDdTY; INTERPRETATION. This Security Instrument is complete and fully integrated. This Security
<br />Instrument may not be amended or modified by oral agreement Any section in this Security Instrument, attachments, or
<br />any agreement related to the Secured Debt that cmultets with applicable law will not be cttenivc, unless that law expressly
<br />or nnppI dly permits the variations by written agreement. If any section of this Security Instrument caunnot be enforced
<br />according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security
<br />Instrument - Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of
<br />the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of
<br />this Security Instrument. Tune is of the essence in this Security Instrument.
<br />15. 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 des.g�at. n in writing. The successor trustee, without conveyance of
<br />the Property, shall succeed to all the tide, power and duties conferred upon Trustee by this Security Instrument and
<br />applicable taw.
<br />16. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailingg it by first class mail
<br />to the appropriate party s address on age I of this Security Instrument, arm any other address drs.gnarrd in writing.
<br />Notice m one trustor will be deemed to �e notice to all trustors.
<br />17. WAIVERS. Except to the extent prohibited by law, Truster waives all appraisement and homestead exemption rights
<br />relating to the Property.
<br />18. LINE OF CREDIT. The Seemed Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a
<br />wro balance, this Security Instrument will remain in effect unit[ released.
<br />19_ APPLICABLE LAW. This Security Instrument is governed by the laws as agreed to in the Secured Debt, except m the
<br />extent required by the Taws of the jurisdiction where the Property Is located, and applicable federal laws and regulations.
<br />20. RIDERS. The covenants and agreements of each of the riders checked below are incorporated inn and supplement and
<br />amend the terms of this Security Instrument.
<br />[Check all applicable boxes]
<br />❑ Assignment of Lcascs and Rants ❑ Other ................ ..._.._..._.......................... .... ........ ...........
<br />.............
<br />21. ❑ CONSTRUCTION LOAN. This Security Instrument is a construction security interest which secures an obligation
<br />incurred for the construction of an improvement on the Property.
<br />22. ❑ ADDITIONAL TERMS.
<br />SIGNATURES: By signing below, Toaster agrees to the terns and covenants contained in this Security Itetrmnent and in any
<br />attachments. 'I raster also acknowledges receipt of a copy of this Security lnstrumem on the date sorted on page 1.
<br />... .... 7? a ra_.fl.. ? .............. ...
<br />(sisnemin) Robert W. W Y aters O�xm) (1lgnemre) Me P. Waters (De1°7
<br />STATE OF Nebraska.. ......... , COUNTY OF Hall ................... . ._..........} Ss.
<br />11"211°""0 This but rument was acknowledged before me this 1114th ,,,,,,, day of . .......... __,Feh(Uely„ 2003,,,,_,,,,,,,,,,
<br />by Robert W, wales ;.MarvP, Waters,.HusbaOdagd.Wlte_. ...... .................... . ...
<br />My commission expires:
<br />GENERAL NOTARY-State of Nebraska
<br />RODNEY M PETERS Rodney M. Peters
<br />�.. NY Comm Esp. Jan. 23, 2005
<br />E5k'w6 11 19945 -ke16 Syrt— Inc., St. Ola°d MN F— OORPEDT -NE 1202003 (page 4.f 4)
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