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200303830 Application 4 0121675078
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the
<br />Secured Debt, whether or net then due, at Bcncficiary's option. Any application of proceeds to principal shall not extend or
<br />postpone the due dale of the scheduled payment nor change the amount of any payment. Any excess will be paid to the
<br />Grantor. If the Property is acquired by Beneficiary, Truster's right to any insurance policies and proceeds resulting from
<br />damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before
<br />the acquisition.
<br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Truster will provide to Beneficiary upon request, any
<br />financial statement or information Beneficiary may deem reasorebly necessary. Trustor agrees to sign, deliver, and file any
<br />additional documents or Certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's
<br />obligations under this Security Instrument and Beneficiary's lien stains on the property.
<br />22. JOINT AND INDIVIDUAL LIABILI'T'Y; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this
<br />Security Instrument are joint and individual. If Truster signs this Security instrument but does not sign an evidence of debt,
<br />Truster does so only to mortgage Tmstor s interest in the Property m secure payment of die Secured Debt and Trustor does not
<br />agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Rencficiary and
<br />Tmstor, Truster aggrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Truster or
<br />any party uidebted under the obligation. These rights may include, but are not limited to, any anti - deficiency or one- action
<br />laws. Truster agrees that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the
<br />terns of this Security Instrument or any evidence of debt without Trustor's consent. Such a change will not release Truster
<br />from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the
<br />successors and assigns of Trustor and Beneficial.
<br />23, APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the
<br />jurisdiction n which Beneficiary is located, except to the extent otherwise [eqshred by the laws of the jurisdiction when the
<br />Property is located. This Secoriry Instrument is complete and fully integrated. Tits Seeunry Instrument may not be ameMed or
<br />modified by oral agreement. Any section n this Security Instrument, attachments, or any agreement rclalnd m the Secured
<br />Debt that conflicts with applicahlc law will no[ 6e effective, unless that law expressly or impliedly permits the variations by
<br />written agreement. If any section of this Security lastmment cannot be enforced accordinj, m ita terns, that section will be
<br />severed and will not affect the enforceability of the remainder of this Security 1nsWment. Whenever used, the singular shall
<br />include [he plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for
<br />convenience only and are not to be used to interpret or define the terms of this Security instrument. Timc is oC tie essence
<br />to
<br />this Security Instrument.
<br />24. 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 designation in writing. The successor trustee, without conveyance of the
<br />Property, shall succccd to all the tide, power and duties conferred upon Trustee by this Security Instrument and applicable law.
<br />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
<br />appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one
<br />trustor will be deemed to he notice to all trustors.
<br />26. WAIVERS. Except to the extent prohihitcd by law, Trustor waives all appraisement and homestead exemption rights Pelting
<br />to the Property.
<br />27. OTHER TERMS. If checked, the following are applicable to this Security Instrument:
<br />Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be
<br />reduced to a zero balance, this Security Instrument will remain in effect until released.
<br />0 Construction Loan. This Security Inswment secures an obligation incurred for the construction of an improvement
<br />on the Property.
<br />=1 Fixture Filing. Tmstor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future and
<br />that are or will become fixtures related to the Property. This Security Instrument suffices as a financing statement and
<br />any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform
<br />Commercial Code.
<br />Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and
<br />amend the terms of this Security Instrument. [Check all applicable boxes]
<br />=1 Condominium Rider = Planned Unit Development Rider = Other
<br />O Additional Terms.
<br />SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any
<br />attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1.
<br />i
<br />µms...
<br />(Signature) BETTY A CARLSON (pine) (S'g mrtia) DANES H CARLSON (oche)
<br />ACKNOWLEDGMENT:
<br />STATE OF ��JI {QJ��Cf,., ,COUNTYOP
<br />(luu,id-p This instrument was acknowledged before me this t.47... day of
<br />by BETTY A CARLSON and JAMES H CARLSON
<br />My commission expire . GENERAL XO]AAYState of Nebraska
<br />CATRINA M. SHUDA... ....,,, �Ct�ti.r
<br />My Gomm. Exp. Aug. 10, 2009 mcuary Public)
<br />(D 1994 Bankem Spiors. Inc., at. noun, Mn o BBP997-33,o) roan RE-oi NE l0QM7 (page 4 of 4)
<br />CD, lr5(NE) )sees)
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