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200306744 D. Truster shall immediately notify Beneficiary in writing as soon as Truster has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Environmental Law. 12. 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. 13. 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 Debt and Truster does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Truster, Truster agrees to waive any rights that may prevent Beneficiary from bunging any action or claim aggainst Trustor or any party indebted under the obligation. These rights may include, but are not limited to, any anti - deficiency or one - action laws. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Tmstor and Beneficiary. 14. SEVERABILITY; INTERPRETATION. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section to this Security Instrument, attachments, or any agreement related to the Secured Debt that confilCls with applicable law will not be effective, uNess that law exppressly or impliedly pemti[s [he variations by written agreement If any sotion of this Security lastmmen[ cannot be enforced according [o is terms, [hat section will be severed and will not affect the enforceability of the remainder of [his Security InsWment. Whenever used, the singular shall include [he 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. 15. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without my other formality than the designation in writing. The successor trustee, without conveyance of the Property, stall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and applicable law. 16. 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 Instrument, or to any other address designated in writing. Notice to one truster will be deemed to be notice to all toasters. 17. WAIVERS. Except to the extent prohibited by law, Truster waives all appraisement and homestead exemption rights relating to the Property. 18. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a rsro balance, this Security Instrument will remain in effect until released. 19. APPLICABLE LAW. This Security Instrument is governed by the laws as agreed to in the Secured Debt, except to the extent required by the laws of the jurisdiction where the Property is located, and applicable federal laws and regulations. 20. 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] = Assignment of Leases and Rents = Other 21. =CONSTRUCTION LOAN. This Security Instrument is a construction security interest which secures an obligation incurred for the construction of an improvement on the Property. 22. = ADDITIONAL TERMS. SIGNATURES: By signing below, Tmstor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Toaster also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. -D /LAS 0 (Dam) ELLAND (51gnaNre)AICHARD L P LLAND (Dale) (6ignatu e) ANET L PELLAND (Dale) ACKNOWLF,DGMENT STATE OF Nebraska _ , COUNTY OF Hall a°` 1tluvp This instrument was acknowledged before me this 2lst _ day of May 2003 by RICHARD L PHLLANDe JANET_ L P_8_LLIaND My commission expires: OBBM NOTANy- ANlE D AIA 9 -� eaa MC-E 1p G ros D 1999 Banked System, In"., 5[. Ckad, MN Form 0CP -Pont ME III 3N9 (page 4 4) dM- C465(NE) 199031.03 M