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200303213 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, a[ Beneficiary's option. Any application of proceeds to 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 In the Grantor. If the Property is acquired by Beneficiary, Trusior's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass M Beneficiary to the extent of the Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trmvmr will not be required to 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. Tmslor agrees to sign, deliver, and file any additional documents or certifications thin Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary's lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILTTY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Trustor signs this Security instrument but does not sign an evidence of debt, Trustor does so only to mortgage Trustoi s interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Trustor or any parry indebted under the obligation. These rights may include, but arc not footed m, any anti deficiency or one- action laws. Trustor agrees that Beneficiary and any parry to this Security Instrument may extend, modify or make any change in the terms of this Security Instrmment or any evidence of debt without Trustor's convent. Such a change will not release Tmstor from the [emus of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Tmstor and Beneficiary. 23. APPLICABLE LAW; SEVERABHdTY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. 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 impliedly permits the variations by wrinen agreement. If any section of this Security treatment 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 captious and headings of the sections of this Security hlstrmtent are for convenience only and are not to be used to interpret or define (he terms of this Security Instrument. 'lime 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 to 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 first class mail to the appropriate party's address on page 1 of this Security Inslrumenl, or to any other address designated in writing. Notion to one tmstor will be decried to be notice to all lmstors. 26. WAIVERS. Except to the extent prohibited by law, Tmstor waives all appraisement ark homestead exemption rights rehiring to the Property 27. OTHER TERMS. if checked, the following are applicable to this Security lustrument: ❑ Line of Credit. The Secured Debt includes a revolving line of credit prevision. Although the Secured Debt may be reduced to a Pero 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. Tmstor grants to Beneficiary a security interest in all goods that Grantor 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 he filed of record for purposes of Article 9 of the Uniform Commercial Code. • 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 Mixes] ❑ Condominium Rider ❑ Planned Unit Development Rider ❑ Other .................. .................._............ • Additional Terms. SIGNATURES: By signing below, Tmstor agrees to the temvs and covenants contained in this Security Instrument and in any attachments. 'Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated nn page 1. (ig a um) KENNLALM�TERJ�A EN J LANCASTE S r `_'�j�'r"/",' %�',— ✓'p (Dare S r (Date) q � ( s a PA�ISORS. IC ACKNOWLEDGMENT S'1'ATB OF NEBRASKA ...... ............................... COUNTY OF ..... .... .... ... ........ ............. ............ ...) ss. pi1vo "� This instrument was acknowledged before me this 18TH .. day of . , . FEElow, 2003 _ .... _ ...... by 9NNETHA. U WA5TER:.P USBANEI AN. EANO NERRASKA. RP RATION ........... My commission expires: •Iyd�df MWi ____.. Ora ORT,f1d0 .. Public _.. • •(N ) Z{ 51994 8an1,1115y61m I. lrc„ St Crud, MN FONT RE Or NE 1/30/2002 nx q, 4 ,f 4I