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200205999 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 hall not extrnd or postpone lire due date fthe scheduled pa}mien[ nor change the amount of any payment_ Any excess will be paid to the tremor. If the Property is acquired by Bend Trusloi s right to any insurance policies and proceeds resulting font damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt iina edialely 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. DOCUM EN I'S. Truster will pro%ide to Beliefmary upon request, any financial statement or mfi,ro rtma Beneficiary may deem reasonably necessary - Truster 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 Tien status on the Property_ 22. JOINT AND INDIVIDUAL LIABILITY; COSIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument arc joint and individual. If TfLl6IOr signs this Security Instrument but does not sign mn evidence of debt, Truster does so only to mortgage Tmstor's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt It this Security Instrument secures a guaranty between Benefciary and 1lusto'_ 7lostol abbv'ees to waive any ri flits that may prevent Beneficiary from bringing any action or claim af,nml Trustor oI any party indcried under the ob�gation. These rights may include, but are not limited lo, any anti - deficiency m' one- action laws. Trustor agrees that Beneficiary and any party to this Security Instrument may extend, r modify o make any change in the terns of this Security Instrument or a n ny evidence of debt wdhout Toustor's consent Such a change will not release Trustor from the terns of this Sectary Instrument The duties and benefits of this Security Instrument shell bind and benefit the success.... and assigns of Trustor and Beneficial. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Beneficiary Is located, except to the extent otherwise required by tine laws of the juristic ion where the 'rnperly is located. 'Phis Security Instrument rs complete mid frilly integrated_ IN, Security Instrument may not he meanded or modified by oral agreement Any section in this Security instrument, me clunenls, or any agreement related to the Secured Debt that conflicts wills applicable law will not be effective, unless that law expressly or ""tire fly permits the variations by written agreement. if any section of finis Security Instrument cannot be enforced according to it, terms, that section will be severed and will not affect the enforceability of the remainder of this Security Insl'uunerve 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 arc not to he used to interpret or define the terms of this Security Instrument. Time is of [tic cleans in this Security Instrument, 24. SUCCESSOR TRUSTEE. Beneficiary, at Berericiaq %s option, may from time to time remove Trusten and appoint a successor trustee without any other formality than the designation or writing. The successor trustee, without conveyance of Ilse Property, shall succeed to all the title, power and tfies conferred upon Trustee by this Security histunnent 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 panty's address on page I of this Security instrument or to any oiler address designated in writing. Notice to one [.inter will be deemed to be notice to all trustols. 26. WAIVERS. Fxcept to the cxerit prohibited by law, Trustor waives all appeaisenent and homestead exemption rights rclating to the Property_ 27. OTHER TERMS. If checked, the following are applicable to this Security Instrument. Line of Credit. The Secured Debt includes a revolving line of..'edit provision. Although the Secured Debt may be reduced to a zero balance, this Security Inatrmnenl will remain in effect until released_ Construction Loan. Thu Security Instrument secures an obligation incurred for the construction of an improvement on the Property. Fixture Filing. Trustor glands to Beneficiary, a security interest in all goods that Grantor owns now or in the fimue and that are or will become fixfiu'es related to the Property. This Security hrvl'unnent suffices as a financing statement laid any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. Riders. The covenant and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrnent. [Check all applicable boxes] I Gmdominimn Rider Planned Unit Development Rider Other Additional Terms. SIGNATURES: By signing hero,, Trustor agrees to the terms and covenants contained in [his Security Instrument and in my attachments. Trustor also acknowledges receipt of a copy of this Security_ Instrument on the date slated on page 1. Igimwrml MARK L STANDAGE In „Iq ISI�ua1 AND RHONDA I STANDAGE dJaui ACKNOWLEDGMENT STATE OF Nebraska .CIHiNTYOF Hall This instrument was ackntowledged before me this 29th day of May 2002 by Mark 1 Standage and Rhonda T Standage.--,Eiusband and'Wife - My coon j raeka �y,.I�r rune, 20Y002 O Isla gainers syneno. mc.. st. ciold. KIN'1LDD 397 2341 rm1 RE ITJNE w av ^r (page 4 of 4) 4=dl65fNE) ,suu ul a