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200207331 D. TrusLei shall immediately notify Beneficiary in writing as soon as "Tmstor has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or du'eatened release of any Oa7ardous Substance or the violation of any Environmental Law. 12. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Tmstor will not be required to pay to Beneficiary fluids for taxes and insurance in escrow. 13. JOINT AND INDIVIDUAL IJABII.ITV; 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, Tmstor does so only to mortgage Trusters interest in the Property to secure payment of the Secured Debt and Truster does not agree to he personnally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Truster, 'I raster agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Truster or any party indebted under the obligation. These rights may include, but are not limited to, any anti - deficiency or one - action laws. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of 'I roster and Reneficimy. 14. SEVERABILI'TV; INTERPRETATION. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly Hermits the variations by written agreement. If any section of Its Security Instrument cannot be enforced according to its teens, Out section will be severed and will not affect the enforceability of the remainder of this Security Instrnnent. Whenever used, the singular shall include the plural and the plural the singular . The captions aid headings of the sections of this Security Instrument me for convenience only and are not to be used to interpret or define the terms of [his Security Instrument. 'time is of the essence in this Security Instrument. 15. SUCCESSOR TRUSTEE. Beneficiar y, at Beneficiary's option, rosy from time to time remove 'Iustee and appoint a successor trustee without any other formality than the designation in writing. The orrecasor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument mid applicable law. 16. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class limit to the appropriate party's address on page I of this Security Instrument, (it to any other address designated in writing. Notice to one tr'ustor will be deemed to be notice to all airstons. 17. WAIVERS. Except to the extent prohibited by law, Truster 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 Seemed Debt may be reduced to a zero balance, this Security Instrument will remain in effect until releazal. 19. APPLICABLE LAW. This Security Instrument is governed by the laws as agreed to in the Secured Debt, except to the extent required by the laws of the jurisdiction where the Property is located, mid applicable federal laws and regulations. 20. RIDERS. The covenants and agreements of each of the riders checked below are incorporated into mid supplement and aniend the terms of this Security Instrument. [Check all applicable boxes[ 0 Assignment of Leases and Rents = Other 21. 0 CONSTRUCTION LOAN. this Security Instrument is a construction security interest which secures an obligation incurred for the construction of an improvement on the Property. 22. 0 ADDITIONAL TERMS. SIGNATURES: By signing below, Truster agrees to the terms and covenants contained in this Security Instrument and in any attachments. Truster also acknowledges receipt of a copy of this Security instrument on the date stated on page L Q i j/ 715102 .f'� v �� 715102 (%s at,m)R I CHARD K DAVIS iDmr) -- ICaamm7 KAREN L DAVIS (Data) ACKNOWLEDGMENT: STATEOP NEBRASKA Of OF HALL }ss. This mstraiment was acknowledged before me this 5TH day of JULY, 2002 by RICHARD K DAVIS AND KAREN L DAVIS, HUSBAND AND WIFE My commission expires: tom' CATHERINE J. NUgR�F (rvan,,y ramha) MY Canal DP. 2 \_1 pwv4 ooa4Bls swem =. ^�. 41 omen Pn =aim oa -u11) NI JaPl (nop.4 0f 4) C465(NE)(vvo2)0 m