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200211525 v Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Pro or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to pima shall not extend or postpone the due date of the scheduled payn�rn t nor change the amount of any payment. Any excess will be paid to the Grantor. if the Property is acquired by Bene tf ciary, Trustor' a right to an insurance policies and proceeds resiilting from damage to the Property before the acguismon 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, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS, Truster will provide to Beneficiary upon request, any financial statement or information Beneficiary may dean reasonably necessary. Ttnsmr agrees to sign, deliver, and file any additional documents or certificat ions that Beneficiary my consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary as lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; COSIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under ia this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Truster does so only to mortgage Trustor s interest in the Property to secure payment of the Securexl Debt and Truster does not agree to be personally liable on the Secured Debt. It' dos Security Instrument secures a guaranty between Beneficiary and'1'mstor, Truster agrees to waive any rights [hat may prevart Beneficiary from bdngng any action or claim against Truster or any party indebted under the obligation. These rights may include, but are not hrmled m, any anb- deficiency or ono-aaion lawx. Truster agrees that Beneficiary and any party to this Security Ims[rument may extend, modify or make any change in the terms of this Secwiry lnstrumen[ or any evidence of debt without Trusmr's consent. Such a change will not release Truster from the terms of this Security Instrument. The duties and benefits of tlils Security loo mnent shall bind and benefit the successors and assig)s of Trustor and Hena iicial. 23. APPLICABLE LAW; SEVERABILITY INTERPRETATION. This Security instrument is governed by the laws of the ,7misdiction in which Beneficiary is locate, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. 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 histrument, attachments, or any agreement related to the Seemed Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If an section of this Seturify Inatnunent cannot be en er forced according to its twins, that section will be several said will act 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 define the terms of this Security Instrument. Time is of the essence in this Security Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiaryy'a option, may from time to fime 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 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 mailing it by first class mail to the appropriate party's address on page 1 of this Security instrument, or to any other address design[ in writing. Notice to one trustor will be deemed to be notice to all trusters. 26. WAIVERS. Except to the extent prohibited by law, I'mint waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER TERMS. If checked, the following are applicable to this Scew'ity Instrument: L-1 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 Iastrmneat will remain in effect until released. =Construction Loan. 'Phis Security Instrument secures an obligation incurred for the construction of an improvement on the Property. 0 Fixture Filing. Trustor grants to Beneficiary 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 Instrument suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record fnr purposes of Article 9 of the Uniform Cormm acial Code. Riders. The covenants and agreements of each of the riders checked below me incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes] O Condominium Rider E71 Planned Unit Development Rid "Other ------ --- _- ----- .--- _ (] Additional Terms. SIGNATURES: By sibming below, T'rustor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. ?Q GATES 0.150 -P �11�Xt'.L' --- ��C:al /O�d-- 2- (stsazi JE REY L GATES (Dzw) ls,gom�re)GLORIA F GATES tuaM1 ACKNOWLEDGMENT: STATE OF _Nebraska ___ _.___, COUNTY OF _ He l_l_ _ _ - -. Iss. "n°ivitl"a0 This instrument was acknowledged before me this 18th of _October 2002 by,7e- Lfrey- -L Gates and _Gleria_B Gates, Eachi is and her own_right, and My commission ssion expires: iajs spoir e //��f ea othe i II OENESAL 11010 Smte of VOLN" C �// m r"eu t j ,pSEPHR C6ssPt 3OI MY / N14 Cam s. Fx4 © i9" 'moan S',—. ma .9. cioua, Mr m- 'nv'4]ssap 1011 a-17 NE lOPrNr (x 4 et 4) ®- Cta511E) {veo'yos m