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200306&69
<br />Unless otherwise agreed in writing, all insurance proceeds shall he applied to the restoration or repair of the Property or to
<br />the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not
<br />extend or postpone the due date of the scheduled payment nor change the amount of any payment, Any excess will be paid
<br />to the Grantor. If the Property is acquired by Beneficiary, Truster's right to any insurance policies and proceeds resulting
<br />from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br />before the acquisition.
<br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Truster 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 reasonably necessary. Truster 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 status on the Property.
<br />22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br />this Security Instrument are joint and individual. If Truster signs this Security Instrument but does not sign an evidence of
<br />debt, Truster does so only to mortgage Tuition's interest in the Property to secure payment of the Secured Debt and
<br />Truster does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between
<br />Beneficiary and Truster, Trustee agrees to waive any rights that may prevent Beneficiary from bringing any letter. or claim
<br />against Truster or any party indebted under the obligation. These rights may include, but me not limited to, any
<br />anti - deficiency or one - action laws. Tmstor agrees that Beneficiary and any party to this Security Instrument may extend,
<br />modify or make any change in the terms of this Security Instrument or any evidence of debt without Trustoi s consent.
<br />Such a change will not release Truster from the terms of this Security Instrument. The duties and benefits of this Security
<br />Instrument shall bind and benefit the successors and assigns of Tmstor and Beneficiary.
<br />23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the
<br />jurisdiction in which Beneficiary is teemed, except to the extent otherwise required by the laws of the jurisdiction where
<br />the Property is located. This Security Instmment is complete and fully integrated. This Security Instrument may not be
<br />amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to
<br />the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or implicitly permits the
<br />variations by written agreement. If any section of this Security Imuu then cannot be enforced according to its terms, that
<br />section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used,
<br />the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security
<br />instrument are for convenience only and me not to be used to interpret or define the terms of this Security Instrument.
<br />Time is of the essence in 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
<br />the Property, shall succeed m all the title, power and duties conferred upon Trustee by this Security Instrument and
<br />applicable law.
<br />25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by retailing it by first class mail
<br />to the appropriate patty's address on page 1 of this Security Instmment, or to any other address designated in writing.
<br />Notice to one tmstor will be deemed to he notice to all trusters.
<br />26. WAIVERS. Except to the extent prohibited by law, Truster waives all appraisement and homestead exemption rights
<br />relating 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 />L Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement
<br />on the Property.
<br />❑ Fixture Filing. Truster grants to Beneficiary a security interest in all goods that Grantor owns now or in the future
<br />and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing
<br />statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the
<br />Uniform 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 />❑ Condominium Rider ❑ Planned Unit Development Rider ❑ Other ...................... _.............. ..........................
<br />❑ Additional Terms.
<br />SIGNATURES: By signing below, Tmstor agrees to the terms and covenants contained in this Security Instrument and in any
<br />attachments. Truster also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1.
<br />eyr� �{ 05/16/03
<br />(Signature)I,Aggy ERICKSON, SR. (Date) (Sigvmre) (Date)
<br />ACKNOWLEDGMENT
<br />STATE OF NEBRASK& .. ............................... COUNTY OF AOA GLAS ............................. .......... . I as.
<br />u""wa "m This instrument was acknowledged before me this... 16TH......... day of ...... M.AY.r. .2003,,,,,,,..._,,,,,,,,,,,,,,,
<br />by LARRY..d... ERi0.KSQN,.. SRI . ............................... .....
<br />My commission expires: %
<br />s4/
<br />............ .... .... ...............................
<br />..................
<br />Mo tic)
<br />®1994 OenkP9 $Ynems. Inc.. $t LI"uJ. MN Fa,m PEOLNE 1130/I001 (pagQ 4 Of 4)
<br />/�y�yY;'�• JIMw. LONEY
<br />COMMISSION EXPIflES
<br />i ',Wauary 29.20[6
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