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200200433 D. Truster shall irmncdiately 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, Truster will not be acquired in 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 Truster signs this Security Instrument but does not sign an evidence of debt, Truster does so only to mortgage Truster's interest in the Property to secure payment of the Secured Debt and Tnrstor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Toaster, Truster agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Tnrstor or any party indebted under the obligation. These rights may include, but are not liurned lo, any an&deficiency or one- action laws The duties ant] benefits of this Security Instmmcm shall bind and benefit the successors and assigns of Trustor and Beneficiary. 14. SEVERABITITY; INTERPRETATION. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreeme ul. Any section in this Security Instrnruont, atmchunems, or any agreement related to the Secured Debt that conflicts with applicable law will net be effective, notes. that law expressly or implicitly permits the variations by written agree arem. R any 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 rennsinder of this Security lnslrumem. Whenever used, the singular shall include the plural and the plural the singular, The captions and headings of the sections of this Security InslrumeN are for convenience only and are not to be used to interpret or define the terms of this Security lnstruntent. Time is of the essence in this Security Instrument. 15. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from lime to nine remove Trustee and appoint a successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of the Property, stall succeed to all the title, power mid duties conferred upon Tmslce 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 patty's address on page 1 of Nos Security Instrument, or to any other address designated in writing. Notice to one truster will be deemed to be notice to all tmstors. 17. WAIVERS. Except to the extent prolubited by law, Trustor 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 nay be reduced to a zero balance, this Security Instrument will remain in effect until released. 19. APPLICABLE LAW. This Security lnstrument is governed by die 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 me incorporated into and supplement and amend the tenors of thus Security Instrument. [Check all applicable boxes] D Assignment of Leases and Rents n Other ....... ....... 2L CONSTRUCTION LOAN. This Security lmtmmenl is a construction security interest which secures an obligation incurred for the com b ction of an improvement on the Property. 22. -:J ADDITIONAL TERMS. SIGNATURES: By signing below, Trustor agrecS to the terms and covenants contained in this Security Instnmem mid in any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1_ .'�,(.Ef� -tr<!„ U'�_.6.}}??e(G..a a�___ � /U�Oo'• I�s+Re<d-- �- �... - -- 1P /.� >___ (Slgnalum)NILLIAM A SORENSEN (Dom) (Sigrarure) DEBORJUI L SORENSEN (Dam) ACKNOWLEDGMENT: STATE OF �L(�. COU TY OF' _ }ss. This ins tnnn'en['lwas acknowted ed bc1C1om noel ^t�ltis ` --_ day of�r�^C''A f_yl rte'_ by My commission expires' 'd GFNEPAL NOTARY -State of Nebraska TAMMYS.P R Y My Comm. Ev. . �1I�:. O ssa e. "9 a,. a ,. I , s,. clout. Mu norm cells sue ,n 1199 (page 4 of 4) (=- c4881NE( (09.9).1 0