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<br />Unless otherwise agreed in writing, all inaurmce precccds shall he applied to the restoration or repair of the Property or to
<br />the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not
<br />extend or postpone the due date of the scheduled pa}y'**!!�ient nor change the amount of any payment Any excess will be paid
<br />to the Grantor. If the Property is acquired by Benetciary, 'I'rustor's right to any inswance pobcinx and proceeds resulting
<br />from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br />before the acquisition.
<br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />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, any
<br />financial statement or information Beneficiary may them reasonably necessary. Trustor agrees to sign, deliver, and file any
<br />additional documents or certifications that Beneficiary ma consider necessary to perfect, continue, and preserve Grantor's
<br />obligations under this Security Instrument and BeneficiL71ss lien status c the Property.
<br />22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS ROUND. All duties under
<br />this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of
<br />debt, Truster does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Truster
<br />doe s not agree [o be personally liable on the Secured Debt. If thus Security Instrument secures a guaranty between
<br />Beneficiary and Trustor, Truster agrees to waive any ri¢hIS that may prevent Beneficiary from bringing any action or claim
<br />against Truster or any party indebted order [he obG6aliort Thnc nghts may include, but are not lirruted to, any
<br />ant- deficiency or one -action laws. Truster agrees that efrciary and any pazty to this Security Instrument may extend
<br />modify or make any change in the terms of this Security Instrument or any evidence of debt the-, Trustor s consent.
<br />Such a chmige will not relieve Trustor from the terrine of this Security Instrument. 1'he duties and benefits of this Security
<br />Instrument shall bind and benefit the successors and assigns of Trustor and Beneficial.
<br />23. APPLICABLE LAW; SEVERABILITY' INTERPRETATION. str
<br />This Security Instrument is governed by the laws of the
<br />,jurisdiction in which Beneficiary is located,, except to the extent otherwise required by the laws of the jurisdiction where the
<br />Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be
<br />amended or modified by oral agreement. Any section in this Security Unnatural, attachments, or any agreement related to
<br />the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the
<br />variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that
<br />section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used,
<br />the singular shall include the plural and the plural the singular. 'Ile captions and headings of the sections of this Security
<br />Instrument are for convenience only and are not to be used to interpret or define the teens of this Security Instrument Time
<br />is of the evscncc in this Security Instrument.
<br />24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiar s option, may from time to time remove Trustee and appoint a
<br />successor trustee widiout any other formality than the designation in writing. The successor trustee, without conveyance of
<br />the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and
<br />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 mail to
<br />the appropriate party's address on page I of this Security Instrument, or to any other address designated in writing. Notice
<br />to one truster will be deemed to be notice to all creators.
<br />26. WAIVERS. Except to the extent prohibited by law, 'Trustor waives all appraiseniem 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 may be
<br />reduced to a zero balance, this Security Instrument will remain in effect until released.
<br />El Construction Loan. This Security Instrument secues an obligation incurred for the construction of an
<br />improvement on the Property.
<br />0 Fixture Filing. Truster grants to Beneficiary a security interest in all goods that Grantor owns now or in the future
<br />and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing
<br />statement and any carbon, photographic or other reproduction may be tiled of record for proposes of Article 9 of
<br />the Uniform Commercial Code.
<br />0 Riders. The covenants and abntxxnents of each of the riders checked below are incorporated into and supplement
<br />and amend the teens of this Security Instrument. [Check all applicable boxes]
<br />= Condominium Rider L= Planned Unit Development Rider U Other
<br />[] Additional Terms.
<br />SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any
<br />attachments. Trustor also pcknnwledges receipt of a copy of this Security Instrument on the date stated on page 1.
<br />,. /ORAHAN'r� -___. ��!J•
<br />(sirs wre7 STEVEN � SOR4HAN tame) slsnsmw) DEBORAH L ,S0 (Date)
<br />ACKNOWLEDGMENT:,�
<br />STATE OF /4'�VG �. 4 COUNTY OF )ss.
<br />(I'd... d,d) 'Phis instrument was acknowledged before me this 7, day of (' 9
<br />C L
<br />Mycom e cozpires:
<br />My commission expires:
<br />Kathleen A. Schlachtet' .(.l-
<br />Equitable
<br />Federal Savings Bank
<br />PO Box 160
<br />Grand Island, NE 68802 -6160 1ENERA NOTARYSInle of Nebraska
<br />xATHLEEN A. SGHLAG HTEn
<br />Qc V44 e110 (8r,), is, 1,,r 91 Oouh MN (I 900 097 9041) rum PF DT NE M7 Q7 BQ O]Q wk �p 1651NE1 (aeon TC i � My Gomm &D. May 27, 2004 iP� )
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