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200304660 Unless otherwise agreed in writing, all insurance prceeeds 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 to principal shall not "rend or postpone the due date of the scheduled paym ent nor change the meant of any payment Any excess will be paid to the Granter. If the Propery is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to 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, Truster will not be required to pay to Beneficiary fonds for taxes and insuramx in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Truster will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. 'Trustor 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 Instrument and Beneficiary s lien stalls on the Property. 22. JOINT AND INDIVIDUAL. LIABILITY; 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, Truster does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Elebt and Trustor does no agree to be personally liable on the Secured Debt. If' this Security Instrument secures a guaranty between Beneficiary and Tms[or, Truster aggrrees to waive any ribfits that may prevent Benetciary from bringing any action or claim against Trustor or an y party mrleb[ed under the obligation. These rights may include, but aze not limited to, any anti- deficiency or one - action laws. Truster agrees [ha[ Beneficiary and any party to this Security Instrument may exten modify or make any change to the terms of this Security instrument or any evidence of debt without Trnstor's consent. Such a change will not release Truster Crom the terms of this Security Instnunrnt. The duties and benefits of [his 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 Iurisdiction 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 written agreement. If anyy section of this Security Instrument cannot be enforced according to its teens, that section will be severed and will not giret 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 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 Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without any other formality than the aesignatmn in writmg. The successor trustee without conveyanoe of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Siecurity 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 I of this Security Instrument, or to any other address designated in writing. Notice to one truster will be deemed to be notice to all trustors. 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: Line of CrediL 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. 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. 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] = Condominium Rider E --- I Planned Unit Development Rider El Other 0 Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any art bm� . rustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. (6i6aawre) PATRICK M JONES' (mate) lslraw )JANIECE M JONES (nme) ACKNOWLEDGMENT STATE OF Nebraska ,COUNTY OF Hall ---- _.}ss. ,bb'dp , This instrument was acknowledged before me thislOth day of April 2003 _ by PATRICK. _M JONES,_ JANIECE M_ JONES_ My conmrission expires: GBIFAFlNOTAM -State olNemift C - - -- ANNEfrE0AVt8 (eamuy Public) 61yC0.TYa. Firm. NayP3. 2008 0 199< Bunk— System". Inc.. 91 CI9o0. MN (1- 300 -99] -2041) Lmm GE -aI -NE 1 M7M (pOW 4 of 4) ®- C1651NEI (Ml)B 2