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<br />Unless otherwise agreed in writing, all insurance proceeds shall be, applied to the restoration or repair of the Property
<br />or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal
<br />shall not extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any
<br />excess will be paid to the Truster. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies
<br />and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the
<br />Secured Debt immediately before the acquisition.
<br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Truster will not
<br />be 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,
<br />any financial statement or information Beneficiary may deem reasonably necessary. Truster agrees to sign, deliver,
<br />and file any additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and
<br />preserve Truster's obligations under this Security Instrument and Beneficiary's hen status on the Property.
<br />22. JOINT AND INDIVIDUAL LIABILFPV; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br />this Security Instrument are joint and individual. If I'rustor signs this Security Instrument but does not sign an evidence of
<br />debt, Truster does so only to mortgage Truster's interest in the Property to secure payment of the Secured Debt and
<br />Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guwanty
<br />between Beneficiary and Truster, Truslor agrees to waive any rights that may prevent Beneficiary from bringing any
<br />action er claim against Truster or any party indebted under the obligation. These rights may include, but are not limited
<br />to, any anti - deficiency or one - action laws. Truster agrees that Beneficiary and any party to this Security Instrument may
<br />extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Trustor'
<br />consent. Such a change will not release Trustor from the terms of this Security Instrument. The duties and benefits of this
<br />Security Instrument shall bind and benefit the successors and assigns of Truster and Beneficiary.
<br />23. APPLICABLE LAW; SEVERABILITV; INTERPRETATION. This Security Instrument is governed by the laws of
<br />the jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction
<br />where the Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may
<br />not be amended or modified by oral agreement. Any section in this Security Instrument, attachments. or any
<br />agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly
<br />or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced
<br />according to its terms, that section will be severed and will not affect the enforceability of the remainder of this
<br />Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captious and
<br />headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or
<br />define the terms of this Security Instrument. Time is of the essence in this Security Instrument.
<br />20. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint
<br />a successor trustee without any other formality than the designation in writing. The successor trustee, without
<br />conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security
<br />Instrument and applicable law.
<br />25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class
<br />mail to the appropriate party's address on page I of this Security Instrument, or to any other address designated in
<br />writing. Notice to one truster will be deemed to he notice to an trusturs.
<br />26. WAIVERS. Except to the extent prohibited by law, Trustor waives all apperisement 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
<br />may be reduced to a zero balance, this Security Instrument will remain in effect until released.
<br />❑ Construction Loan. This Security Instrument secures an obligation incurred for the construction of an
<br />improvement on the Property.
<br />❑ Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that TrustOr owns now or in the
<br />future and that are or will become fixtures related to the Property. This Security Instrument suffices as a
<br />financing statement and any carbon, photographic or other reproduction may be filed of record for purposes
<br />of Article 9 of the Uniform Commercial Code.
<br />❑ Riders. The covenants and agreements of each of the riders checked below are incorporated into and
<br />supplement and 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, Truster agrees to the terms and covenants contained in this Security Instrument and in
<br />any attachments. Truster also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1.
<br />/'� 3/25/02
<br />...... 'i ........... ........... .... .. ............... ............................... ....................................................... ................I..............
<br />( ai al James f'� KasTon man " " "��
<br />, ( ) Gs�s,mwRl (cam)
<br />ACKNOWLEDGMENT
<br />STATE OF ........ Nebraska .. ............................... . COUNTY OF ....... Shernlan
<br />I ..
<br />This... tT meta was acknowledged before me this .._25th,,,,,,,,__. day of .._. Md>; 9J. 1r.,.. 20. 02 . ...............................
<br />by ...... James F. Ka @lour... a..sn.91e..L?erS ....... ....... ...............
<br />My COmmI55lOn expires:
<br />ERIMBRI- SM1tlAtM� .. .. — .....:f�F..'. ". ........ ........... � L... ... . r��
<br />...... .............
<br />ClAlinE R. 9ADURA (rvomry Public)
<br />_ nyc'mel"o ""0.1005
<br />01 6 MnMeo 6yelems, Inc., 9LP000, MN (181p3q]2p11) ra,m H6 -0iNE 1.1ol (page 4 of 4)
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