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200205536 Unless otherwise agreed in writing, all insurance proceeds 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 payment nor change the aiuount of any payment. Any excess will be paid to the Grantor. If the Property is acquired by Beneficiary, Truslor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to rte 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. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trusmr will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Trustor 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's Then status on the Properly. 22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under his Security Instrument are joint and individual. It 'I signs This Security Instrument but does not sign an evidence of- debt, Trusmr does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Truslor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and 'I Trustor agrees to waive any rights that may prevent Bcncliciary from bringing any action or claim against 'Trusmr or any Party indebted under the obligation. "these rights may include, but are not limited In, any anti- deficiency or one- action laws. 'frustor agrees that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Trustor's consent. Such a change will not release Trustor from the ternhs of this Security Instrument. The duties and benefits of this Security Instrument shall hind and benefit the successors and assigns of "Truslor and Beneficial. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Beneficiary is located, except '(o the extent otherwise required by the laws of the jurisdiction where (lie Property is located. 'I his Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in ([its Security Instruntenl, attachments, or any agreement related to the Secured Debt that conflicts wilt applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If 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 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. Thee is of the essence in this Security Instrunenl. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from three to tittle remove 'trustee and appoint a successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of the Property, shall succeed to all the tile, 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 truster will be deemed to be notice to all trustors. 26. WAIVERS. Except to the extent prohibited by law, 'frustor waives all appraisenieut and homestead exemption rights relating to the Properly. 27. OTHER TERMS. If checked, he following are applicable to this Security Instrument: ❑ Line of Credit. 'f is 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 all improvement on the Property. ❑ Fixture Filing. Truslor grants to Beneficiary 'a security interest in all goods that Grantor owns now or in he future and that are or will become fixtures related to the Property. This Security luslrument suffices as a financing statement and any carbon, photographic or other reproduction stay be filed of record for purposes of Article 9 of the Unilbrni Connncrcial Code. ❑ Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the tennis of his Security Instrument. [Check all applicable boxes] ❑ Condominium Rider ❑ Planned thin Development Rider ❑ Other ...... ..... ......... ............................ ❑ Additional Terms. SIGNATURES: By signing below, 'I rustor agrees to the lernis and covenants contained in this Security Instrument and in any attachments. 'frustor also acknowledges receipt of a copy of this Security Instrument oil the dale stated oil page 1. P ...d l._.1), j(do.4 - .. ....... ............................................. ............................... Sl. m c) MICHAEL H. WHITEFOOT (Date) (Siotature) (Uutcl ACKNOWLEDGMENT: STATE ()I: NEBRASKA............ , .......:..:............. COUNTY OF .. OWA..... ...... ............... .. ................ ) ss. '°"i'E°'L'" This instrument was acknowledged before tie this _.. ...... day of .... 0by PERSON .......................... .. ............................... .. . M X5141 nu`L ..v 282004 'T,tT -C.d" FC�/, SSELL K. JENSEN 'D 1994 BanAei Mc., s_ OlEJ�, MtrT1 -boo 9J 2s41; Poem RE oT -NE 1 Jig] (page 4 of 4) � of E+pkes /