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200311894 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 principal shall not extend or postpone the due date of the scheduled pa ment nor change the amount of any payment. Any excess will be aid to the Grantor. If the Prope[[y is acquired by Beneficiary, Tmstor s right to any insurance policies 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 ADDITIONAL DOCUMENTS. Trustor will rovide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. ?°ouster agrees to sign, deliver, and file any additional documents or rectifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary s lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; COSIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security histruinenl are joint and individual. If Truster signs this Security Instrument but does not sign an evidence of deb[, Tmstor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Tmstor does no[ agree to be personally liable on [he Secured Debt If [his Security Instrument secures a guaranty between Beneficiary and Truster, Tmstor agrees to waive any righis @cat may prevent Beneficiary from bringing any action or claim against Truster or any party indebted under the obligation. These tights may include, but are not limited m, any anti - deficiency m one - action Taws. Truster agrees that Beneficiary and any party to [his Security Instrument may eaten modify or make any change in the [ertns of [his Security Instrument or any evidence of deb[ without Tmstor's consent. Such a change will no[ releaxe Truslor from the terms of this Security inslrumenl. The duties and benefits of this Security instrument shall bind and benefit me successors and assigns of Tmstor and Beneficial. 23. APPLICABLE LAW; SEVERABILITYL INTERPRETATION. This Security Instrument is governed by the laws of the Iurisdict on 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 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 nmpliedly permits the variations by written agreement. If an y 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 define the terms 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 without an y other formality than die in writing. The successor trustee without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Suecurity Instrument and applicable law. 25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it b first class mail to the appropriate party's address on page I of this Security Instrument, or to any other address designa[Bad in writing. Notice to one trostor will be deemed to be notice to all huslors. 26. WAIVERS. Except to the extent prohibited by law, Tmstor waives all appraisement and homestead exemption rights relating to the Property. 27, OTIIER TERMS. If checked, the following are applicable to this Security Instrument; Q 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. Q Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. (] Fixture Filing. Tmstor 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 for purposes of Article 9 of the Uniform Commercial Code. 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] 0 Condominium Rider 0 Planned Unit Development Rider 0 Other Q Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms 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. ignamre) MICHAEL L ANDERSON ACKNOWLEDGMENT (Dam) (Slgaamre) CCA % ASON (Dane) STATE OF Nebraska - COUNTY OF Ha11 ]as. onamlduap __ ______ •rti. _ __.._ _.. __. _____ This instrument was acknowledged before me this _ _,,Y(. day of o q � s+ ,x.06 3. by MICHAEL L ANDBRSONa_ AEHECCA % ANDERSON J My commission ex Tres: 05/23/2006 GEVABLNOTANI'- Stale N Nearisl® ANTI OAVIS (Noury Public) Hl•Cam% Esp. Hay 23,2008 ANNII DAVIS E 15L � () 1999 Bankers Systems, Inc, Ss, Cbud, MN Farm 0.E -Di NE I/3Orz002 (page 4 0I 4) d -C 165(ND PW )