200209843 - Laserfiche WebLink

Browse

200209843; 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 prineipa shall not extend or postpone the due date of the scheduled payyment nor change the amount of any payment. Any excess will be paid to the Grantor_ If the Property is acquired by Berle fcouy, I iustor's right to any insurance policies and proceeds resulting from courage to the Property before the acquisition shall pass to Beneficiary to the extent o the Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Truster will not be required to pay to Beneficiary funds for taxes and insurance in escrow_ 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request any, financial statement or information Beneficiary may deem reasonably necessary _ Trustor 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 lion status on the Property, 22. POINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument arc joint mid rialMdual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Frasier does so only to mortgage Trustor'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. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor a uses to waive any rgghts that may prevent Beneficiary from bunging any action or claim against Trustor or any party in ebted under the oth notion. These rights may include, but are not limited to, any anti -deficiency or orhe- action laws. Trustor agrees that Beneficiary and any party to duns Security Instrument may extend modify or make any change in the terms of this Security Instrument or any evidence of debt without Trustor 's consent. Such a change will not release Trustor from the terms of this Security Instrument. The duties sad benefits of this Security Instrument shall bind and benefit the successors mid assigns of Trustor mid 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 the laws of the jurisdiction where the Property is located. This Security Instrument is complete mid fully integrated. This Security lnstiument 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 sonnets with applicable law will not be effective, unless that law expressly or implicitly permits the variations by written agreement. If any section of this Security Instrument commit be enforced according to its terms, that section will be severed and will not affect the enforceahifity of the remainder of this Security Instrument. Whenever used the singular shall include the plural mid the plural the singular . 'fhe captions and headings of the sections of this Sccurily Inshznnent are for convenience only and are not to he used to interpret or define the terms of this Security Instrument_ lime is of the essence in this Security Instrument 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneheiaryy s option, may from time to time remove Trustee and appoint a successor trustee without any other formality than the designation in writing. the successor trustee without conveyance of the Property, shall succeed to all the title, power and dutics conferred upon Trustee by this Security Instrument mid applicable law. 25. NOTICE. Unless otherwise required by law, arty 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 designated in writing. Notice to one it uslor will be deemed to be notice to all trustors_ 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights relating to the Property _ 27. OTHER TERMS. If checked, the following are applicable to this Security InstrumcnC 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 remain in effect until released. Construction Loan. This Security Instrument secures an obligation incurred for the conshuption of an improvement on the Property. I Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the hature and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing statement and any carbon, photographic or other reproduction may he filed of record for purposes of Article 9 of the Uniform Commercial Code. Riders. The covenants and agreements of each of the riders checked below ate incorporated into and supplement aid anend the terms of this Security Instrument_ [Check all applicable hexes] Condominium Rider Planned Unit Development Rider L-- Other _ Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Trustor also acknowledges ^rreeeeciip\ /t of a copy of this Security Instrument on the date stated on page I_ I(/ p— 6'g rued S HMIDT motel IS yiawra) R TEPP- 9CHIQIDT IOe¢1 ACKN W'LEDGMENT: STATE OF Nebraska , COT MTV OF Hall s� This instrument .vas acknowledged before me this 10th day of September 2002 by BYRON L SCHMIDT,_ CHERYL P STEPP- SCHMIDT My commission expires: twat /-.rfl fi% �.wryyaae O i ee4 sinner, systems. ic.. si. ciouo_ us p 112 111 1]41 i 1— aF11 N1 111n 17 (page 4 et 4) -Cl 65(NE) iseasi oz ry