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200205679 Unless otherwise agreed in writing, all insurance proceeds shall he applied m the restoration or repair of the Property or m the Scented Debt, whether nr nut then dirt, al Beneficiary's option. Any application of proceeds to principal alhall not extend or postpone the due date of the scheduled paynhent nor change the amount of any payment Any excess will he paid to the Grantor. If the Property is acquired by Beneficiary, Truster's right to any insuranw policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition. 20. ESCROW FOR '1'A \ES AND INSURANCE. Unless otherwise provided in a separate agreement, Tntstnr will not he required in pay to Beneficiary funds for taxes, and insurance in escrow. 21. FINANCIAL. REPORTS AND ADDITIONAL DOCUMENTS. Truslor will provide to Beneficiary upon request, any financial smtemenl or information Beneficiary may deein reasonably necessary_ Tnistor agrees to sign, deliver, mid file any additional documents ur mliflomions that Beneficiary may consider necessary to perfect, continue, Wild preserve Grantor., obligations under this Security histrumeer and Beneficiary's lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIG'N'S BOUND. All duties under this Security Instrument are joint and individual. If Tractor signs this Security Instrument but does not sign an evidence of debt, Truster does so only to mortgage Truster',, interest in the Property to secure payment of the Secured Debt and Tremor does not agree to be personally liable on the Secured Debt. It this Security Instrument secures a guaranty between Beneficiary and Truslor, Truslor abbre:x to waive any rigits that may prevent Beneficiary from bringing any a tins or claim agmnar hell( nr any party inrlehted under the obligatin Thn;c rights may includes. but are tot limited to, any anti - deficiency or rare action laws. Truster agrees that Beneficiary and any party to this Security Instrument may extend. modify nr make any change in the terms of this Security Instrument or nary evidence of debt without Timmin's Consent. Such a chanbbre sill not release Tnistor from the teens of this Seeurity Instrument, The duties and benefits of this Security Inatrmnunt slmll bind 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 )urisdictioti in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete mid fully integrated. This Security Instrument may net be amended m modified by oral agreement. Any section in this Security Instrument, attaclnnents, or nary zgeemenl related to the Secured Debt that conflicts with applicable law will not be effective unless that law, expressly or impliedly permits the variations by vaidlen agreement. If mny section of this Security Instrument cannot be enforced according to its terms, that section will he severed and will not affect the enfnrceabihty of the remainder of tile Security Instrument Whenever used, the singular shall include the plural and the plural the singular. 'fie captions and headings of the sections ofthis Security Instrument arc fill conenRenee only and are not lu be used to interpret or defiuc the lei ns of this Security histtument Tiure is of the essence in this Security Instrument 24. SUCCESSOR TRUSTEE, Beneficiary, at Beneficiail}" option, may hem time m time remove Trustee and appoint a successor truOce without any other humaki[, than the dlesi nation in writing. The successor trustee. without conveyance of the Property, shall succeed to all the title, power and �uues conferred upon Trtretee by this Seeuity instrument and applicable law. 25. NOTICE. Unless otlun,ise 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 I of this Security Instrument, or to any other address designamd in writing_ Notice to one truster will be deenned to be notice to all trusters. 26. WAIVERS. Lxcept to tire extent prohibited by law. Tnistor waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER TERMS. It checked, the tNlowing she applicable to this Security Instrument'. Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be redirect! to a zero balance, this Security Instrurient will remain in effect until released. I Constrnetinn Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. Fixture Filing. Truslor grains to Beneficiary a security interest in all goods that Grantor owns now or in the future and that are or will become fixhu'es related to the Property This Security Instrument suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the UnilLnn Counnercial Code. Riders. The covenants and agreements of each of the riders checked below arc incorporated into and supplcmcnl and amend the terms of this Security Instrument )Check all applicable boxes] I Cmrduminium Rider I Planned Unit DevelOpirent Rider 011ie, Additional Terms. SIGNATURES: By signing below, I Easier agrees to the terms and efoa nams contained in this Security Instrument and in any att.1 .... eents /_,Tnistor also oacknnwledges receipt of a copy of this Security Instrument on the date stated on page I. [!+ifvuuurc) MELVIN D SEMS teem) Isignam,e) A Y D SIiMS (1hmCl ACKNOWLEDGMENT: S'IAILOf Nebraska .COUNT) OF Hall _ _ - °i " °itlj This instr'mnent was acknowledged before me this 22 day of May 2002 by Melvin D gems and Marlys D Sems, Husband -and Wife. - My co nmieston expires' �; U=,ANNE7TESTucKEy a _ �IIIf 01994 Bankers Sy9ems. InC. 51. ebel NN 1' 800 -397 -23411 io n RC -eTNC 1027 97 t,Vage 4 of 4) -Cl 65(NE) 19 e a e:.o1