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200209666 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debi, 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 amount of any payment. Any excess will be paid to the Grantor. If the Property is acquired by Beneficiary, Truslor's right to any insurance ]udicics 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 'TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Tmstor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDrrIONAL DOCUMENTS. Truster will provide to Beneficiary upon request, any financial statement or information 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 Instrunem and Beneficiary's lien states on llte property. 22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS ROUND. All duties under this Security Instmment are joint and individual. If Tmstor signs this Security Instrument but does not sign an evidence of debt, Tmstor does so only to mortgage Truster's interest in the Property to secure payment of the Secured Debt and Tmstor duos nut agree to be personally liable on the Secured Debt. If this Security Instmment secures a guaranty between Beneficiary and Transfer, feaster a roes to waive any rghts 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 er one -action laws. Truatllr 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 Truster's consent. Such a change will not release Tmstor from the terms o this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of 'I rustor and Beneficial. 23. APPLICABLE LAW; SEVERABIIATY; INTERPRETATION. Tlnis Security Instrument is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required b the laws of the jurisdiction where the Property is located. This Security Instrunent is complete and Cully nnegreled. This Security Instrument nay rat 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 nmpbedly 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 defuse the teats of this Security Instrument. Time is of the essence in this Security Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee withoul any other formality than the dcsi nation in writing. The successor trustee, without conveyance of the Property, shall succeed to all the tit 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 snaffling it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one trustor will be deemed in be notice to all trustors. 26. WAIVERS. Except to the extent prohibited by law, 'Tmstor waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER 'PERMS. if checked, the following are applicable to this Security Instrurmem: ® Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will refrain in effect until released. ❑ Construction Loan. T'hls Security Instrument secures an obligation incurred for the eons ruction of an improvement un the Property. ❑ Fixture Filing: 'Trustor gtsnts -fo fcnoCfciary a security interest in all goods that Grantor owns now or in the future and that are or will become fixtures related to the Property. This Security Instrunaa suffices as a financing Statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Undfern CulualMial (:ode. ❑ Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes} ❑ Condominium Rider ❑ Planned Unit Development Rider ❑ Other ................... ............................... ❑ Additional Terms. SIGNATURES: By signing below, Tmstor agrees to the terns and covenants contained in this Security Instrument and in any attachments. 'Tmstor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. TJ ENTERPRISES /� . ..® may.— �S01.....�H- ... ............................. ............................... �6oN ........... (ShyalulOWWAIID W. FRANSSEN, PARTNER Mac) (Siplamre) AFRANSEEN, PARTNER imet ACKNOWLEDGMENT: STATE OF ......... �4 : ............................... COUNTY OF ............ ... ...... ... ore "'°u41 This mat cut wit before me this ..... ��.......... day of ............... :klly.. ?G� z...... by ....... rlrfKN�P..' F.! G. f!!.•. l!? ��?! �R. r... a., Q. �wPxy... Q.•.{ i? rYf: R. Af.! C.`' ...... ............................... . My commission expires: if',.%��tzrlana.......... (N.I.y PoMid ®1999 �nkere Synema, Inc.. St CwE, MN 11800- 39L2361 F"tm AE -0TNE 10/27ry7 /peas 4 of 4/ NFIiAI NOTARY- Rhle of Nebraska TEBHV K RATHAMN AT/ Comm Eill Od 21 , 203