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200305206 Unless otherwise agreed in writing, all insurance pproceeds 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 extend or postpone the due date of the scheduled payrr!eat nor change the amount of any payment Any excess will be aid to the Grantor. If the Property is acquired by Bene[misty, Trutor'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, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FTNANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Truster will provide to Beneficiary upon request, any financial statement or information Beneficiary tray deem reasonably accessary. Irrostor 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 a lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties ander 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 Tractor'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 Instru neat secures a guaranty between Henetciary and Truster, Truster a ees [o waive any rights Iltat may prevent Beneficary Crom bringing eny action or claim against Trus[or or any party in�ebted under the obCi6ation. These rights may include, but are not Irmrted to, an anri- deficiency nr one -action laws. Truster agrees that Beneficiary and any party to [his Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Toaster's consent. Such a change will no[ release Truster from the terms oi Chia Security Instrnment. The duties and benefits of this Security Insttrmrent shall bind and benefit the successors and assigns of Trustor and Beneficial. 23. APPLICABLE LAW; SEVERABHdTY; INTERPRETATION. This Security Instrument is governed by the laws of the EREin 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. s Security Instrument may not be amended or modified by oral agreement Any section in Bus Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not he effective, unless that law expressly or implredly 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 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 Tnisree and appoint a aUCCestlOT trustee without any other formality than the deli Lion 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 l of this Security Instrument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all trusters. 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 0 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. 0 Fixture Filing. Truster grants to Beneficiary a security interest in all goods that (mantor owns now or in the future and that are or will become futures related to the Property. This Security Instrument suffices air 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 we incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes] Q Condominium Rider = Planned Unit Development Rider = Other 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 ruxipt of a copy of this Security Instrument on the date stated on page 1. 4eNES (Sipsmre) KERRY (Date) (Sl�mea) (Date) ACENOWLEDG(( ENT: STATE OF Nebraska - _ , COUNTY OF Hal 1 _ _ _ _ _ - _ _ - _ - - _ - )as. This instrument was acknowledged before me thisl8th _ day of.Apri 1 2003 by KERRY- HAINES My cormnission expires: ME" S arNehraElN ANN ANET N�TE DANS Rr CaNa. fup. "A 20M frvowry vubl �) Q 094 Bmkas eystom,, Inc.. 9t cloud MN (1.90039] -2041) F— abal -NF I OR767 Iccge Q of 4% do CI ONNE) (99ne )n.2