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<br />expenses, including without limitation all costs of litigation and attorneys' fees, which Lender and Lender's
<br />successors or assigns may sustain; and (2) at Lender's discretion, Lender may release this Security
<br />Instrument and in return Grantor will provide Lender with collateral of at least equal value to the Property
<br />without prejudice to any of Lender's rights under this Security Instrument.
<br />l. Notwithstanding any of the language contained in this Security Instrument to the contrary, the terms of
<br />this section will survive any foreclosure or satisfaction of this Security Instrument regardless of any passage
<br />of title to Lender or any disposition by Lender of any or all of the Property. Any claims and defenses to the
<br />contrary are hereby waived.
<br />18. CONDEMNATION. Grantor will give Lender prompt notice of any pending or threatened action by private
<br />or public entities to purchase or take any or all of the Property through condemnation, eminent domain, or any
<br />other means. Grantor authorizes Lender to intervene in Grantor's name in any of the above described actions
<br />or claims. Grantor assigns to Lender the proceeds of any award or claim for damages connected with a
<br />condemnation or other taking of all or any part of the Property. Such proceeds will be considered payments
<br />and will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms
<br />of any prior mortgage, deed of trust, security agreement or other lien document.
<br />19. INSURANCE. Grantor agrees to keep the Property insured against the risks reasonably associated with the
<br />Property. Grantor will maintain this insurance in the amounts Lender requires. This insurance will last until the
<br />Property is released from this Security Instrument. What Lender requires pursuant to the preceding two
<br />sentences can change during the term of the Secured Debts. Grantor may choose the insurance company,
<br />subject to Lender's approval, which will not be unreasonably withheld.
<br />All insurance policies',and ren€lwaiji,,'Wi1f'include a standard "mortgage clause" and, where applicable, "loss
<br />payee clause." If requiredbyLendErt~ Gr~ntor agrees to maintain comprehensive general liability insurance and
<br />rental loss hr....b:Us.iness interruptioo.:ffiaurance in amounts and under policies acceptable to Lender. The
<br />comprehensive general liability insurance must name Lender as an additional insured. The rental loss or
<br />business interruption insurance must be in an amount equal to at least coverage of one year's debt service, and
<br />required escrow account deposits (if agreed to separately in writing).
<br />Grantor will give Lender and the insurance company immediate notice of any loss. All insurance proceeds will
<br />be applied to restoration or repair of the Property or to the Secured Debts, at Lender's option. If Lender
<br />acquires the Property in damaged condition, Grantor's rights to any insurance policies and proceeds will pass to
<br />Lender to the extent of the Secured Debts.
<br />Grantor will immediately notify Lender of cancellation or termination of insurance. If Grantor fails to keep the
<br />Property insured, Lender may obtain insurance to protect Lender's interest in the Property and Grantor will pay
<br />for the insurance on Lender's demand. Lender may demand that Grantor pay for the insurance all at once, or
<br />Lender may add the insurance premiums to the balance of the Secured Debts and charge interest on it at the
<br />rate that applies to the Secured Debts. This insurance may include coverages not originally required of
<br />Grantor, may be written by a company other than one Grantor would choose, and may be written at a higher
<br />rate than Grantor could obtain if Grantor purchased the insurance. Grantor acknowledges and agrees that
<br />Lender or one of Lender's affiliates may receive commissions on the purchase of this insurance.
<br />20. ESCROW FOR TAXES AND INSURANCE. Grantor will not be required to pay to Lender funds for taxes and
<br />insurance in escrow.
<br />21. CO-SIGNERS. If Grantor signs this Security Instrument but is not otherwise obligated to pay the Secured
<br />Debts, Grantor~~so only to convey Grantor's interest in the Property to secure payment of the Secured
<br />Debts and Gra'iltQr-d'oes not agree by signing this Security Instrument to be personally liable on the Secured
<br />. .tl
<br />Debts. If this SQiCQ[itv Instrument secures a guaranty between Lender and Grantor, Grantor agrees to waive
<br />any rights that-ri'-ay prevent Lender from bringing any action or claim against Grantor or any party indebted
<br />under the obligation. These rights may include, but are not limited to, any anti-deficiency or one-action laws.
<br />22. SUCCESSOR TRUSTEE. Lender, at Lender's option, may from time to time remove Trustee and appoint a
<br />successor without any other formality than the designation in writing. The successor trustee, without
<br />conveyance of the Property, will succeed to all the title, power and duties conferred upon Trustee by this
<br />Security Instrument and applicahle law.
<br />23. APPLICABLE LAW. This Security Instrument is governed by the laws of Nebraska, the United States of
<br />America, and to the extent required, by the laws of the jurisdiction where the Property is located, except to the
<br />extent such state laws are preempted by federal law .
<br />24. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Grantor's obligations under this Security
<br />Instrument are independent of the obligations of any other Grantor. Lender may sue each Grantor individually
<br />or together with any other Grantor. Lender may release any part of the Property and Grantor will still be
<br />obligated under this Security Instrument for the remaining Property. Grantor agrees that Lender and any party
<br />to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or
<br />any evidence of debt without Grantor's consent. Such a change will not release Grantor from the terms of this
<br />Security Instrument. The duties and benefits of this Security Instrument will bind and benefit the successors
<br />and assigns of Lender and Grantor.
<br />25. AMENDMENT, INTEGRATION AND SEVERABILITY. This Security Instrument may not be amended or
<br />modified by oral agreement. No amendment or modification of this Security Instrument is effective unless
<br />made in writing and executed by Grantor and Lender. This Security Instrument and any other documents
<br />relating to the Secured Debts are the complete and final expression of the agreement. If any provision of this
<br />Security Instrument is unenforceable, then the unenforceable provision will be severed and the remaining
<br />provisions will still be enforceable.
<br />26. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes the singular.
<br />The section headings are for convenience only and are not to be used to interpret or define the terms of this
<br />Security Instrument.
<br />27. NOTICE, FINANCIAL REPORTS, ADDITIONAL DOCUMENTS AND RECORDING TAXES. Unless otherwise
<br />required by law, any notice will be given by delivering it or mailing it by first class mail to the appropriate
<br />party's address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice
<br />
<br />Kershner Properties, L.L,C.
<br />Nebraska Deed Of Trust
<br />NE/4XX28319000937100005187047062606Y
<br />
<br /><l:)1996 Bankers Systems, Jnc.,.St.,c;toud, MN ~
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<br />Initials
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