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200302139 Application p 0121597520 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds b principal shall not extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the Granter. If the Property is acquired by Beneficiary, Trusmr's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass in to the extent of the Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Truster will not be required in pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file arty additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantors obligations under this Security Instrument and Beneficiary's lien states on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; COSIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Truster signs this Security Instrument but does not sign an evidence of debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Truster does not agree in personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Truster, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Truster or any party indebted under the obligation. These rights may include, but are not limited to, any anti - deficiency or one - action laws. Tmstor agrees that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Trustur's consent, Such a change will not release Truster from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Truster and Beneficial. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the ] urisdiction in which Beneficiary is located, except to the extent otherwise regcared by the laws of the jurisdiction where the Property is located. This Security Instrument is cote lete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. An 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 hmpliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, 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 terms of this Security Instrument. Time is of the essence in this Security Instrument. 24. 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 in all the title, power and duties conferred upon Trustee by this Security Instrument and applicable law. 25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by fast class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one tmstor will be deemed to be notice to all tmstors. 26. WAIVERS. Except to the extent prohibited by law, Truster waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER TERMS. If checked, the following are applicable to this Security Instrument: Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. Fixture Filing. Tmslor grants to Beneficiary a security interest in all goods that Granter owns now or in the future and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. E__1 Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes] 0 Condominium Rider 0 Planned Unit Development Rider = Other 0 Additional Terms. _ _ ............................. SIGNATURES: By signing below, Truster agrees to the terms and covenants contained in this Security instrument and in any attachments. Truster also acknowledges receipt of a copy of this Security Instrument on the 7Wsled on page 1. q _.F (Slgvama) LAURIE K JOHNSON � (Date) (Signemre) FRANCIS W JOHN 60N Jr (Dare) ACKNOWLEDGMENT: p STATE OF ....�V)]'E1(.(`v..... ... ,COUNTY OF�`�,(� )ss. andi' duv11 This instrument was acknowledged before me this 't day of ....... 9115 by LAURIE K JOHNSON and FRANCIS W JOHNSON Jr My cement ssion expires: is GENERAL NOTARY State of Nebm a to l� �`l''u/G)'/{1......... N CATRINA M. SHUDA. (rvoury wm�c) § My Comm 6:p. Aug. 16.2003 ©t99a sankem Sys:aea. Inc. � St. clam,m - nE -or -rve I.1rr (page 4 of 4) M C165(NE) (9808)