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200303747 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property nr to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled par cut nor change the amount of any payment. Any excess will be paid to the Oranlor. If the Property is acquired by Beneficiary, Trustor's right to any insurance licies and proceeds resulting from dunnage to the Property, before the acquisition shall pass to Beneficiary to the extent oththe Secured Dehi immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trainor will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Truvtor agrees to sign, deliver, and file any additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security histrument and Beneficiary's lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument me joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Trustor does so only to mortgage Trustor's in in the Proparty to secure payment of [he Secured Debt and Tmvtor does not agree to be personally liable on the Secured Debt. If this Securit Instrument secures a guaranty between Beneficiary and Tms[or, Trustor agees to waive any rigghis that may prevem Benetfciary from bringing any action or claim against Trustor or any party indebted under the obliggation. These rights may include, but ar e not limited to, any anti- deficiency or onaachon laws. Tmator agrccx that Beneficiary and any party, to this Security Instrument may a #end, modify or make any change in the terms of this Security Instrument nr any evidence of debt without '1'r -for. s consent. Such a Change will not release Trustor from the terms of this Security Instrtunent The duties and benefits if this Seeuriry Instrument shall bind and benefr[ [he successors and assigns of Trustor and Beneficial. 23. APPLICABLE LAW; SEVERABILITY- INTERPRETATION. This Security Instrument is governed en by the laws of the Imisdiction in which Beficiary is localeif, except to the extent otherwise required by the laws of the etion where the Property is located. This Security Instrument is complete and fully integrated. 'Phis 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 written agreement. If an 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 die plural and the plural the singular The captions and headings of the sections of this Security Instrument we 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 Benefrciar}+a option, may from time to time remove Trustee and appoint a successor trustee without an other formality than the designation in writing. The successor trustee, without conveyance of the Property, shall succeedyto all the title, power and duties conferred upon Trustee by this Security instrument and applicable law. 25. NOTICE. Unlcss 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 Instrument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all trusurs. 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER TERMS. if checked, the following are applicable to this Security Instrument: E] 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. LJ Construction Loan. This Security instrument secures an obligation incurred for the construction of an improvement on the Property. Q fixture Filing. Trustor 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 be filed of record for purposes of Article 9 of the Uniform Commercial Code. E] 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 = Planned Unit Development Rider 0 Other _ _ E:l Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the dattce attated on page 1. (sigaamr' ) RO55 E LYO (ram) (turc)� SO�ND1RA D LYON (mace) ACKNOWLEDGMENT STATE. OF NEBRASKA , COUNTY OF _ _ HALL _ ----- summa " "0 'LUS instrument was acknowledged before me this 31ST _ day of _ _ MARCH, 2003 by ROSS E LYON AND CASSONDRA D LYON, HUSB AND WIFE__. My commission expires: _GLNi1CA17NQT ABY -State at N¢Craskl Iry i.,.y won) KATHLEEN A. SCHLACHTER My Gomm. EeD mo, 21, 1004 p 1994 ¢mYc, 51Vr, cm", Inc . St Qma. MN (1 600341.]]41) Form nE -Di -rvE 10P7N1 foige 4 of 4) ®-C1661NEI (11118).02