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<br />RE-RECORDED
<br />200606489
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<br />200605822
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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 agr03e~' to keep the Properly insured against the risks reasonably associated with the
<br />Property. Grantor wil! maintain this insurance in tl~t-! amount~; Lender requin~s. 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 poliqias:"andr~ewaijt;WJT1include a standard "mortgage clause" and, where applicable, "loss
<br />payee c1aus~. "IJ requir<edby ilendEft~ GrJntor agrees to maintain comprehensive general liability insurance and
<br />rental loss Dr,.bUsiness. interruptiQn~iIis.urance 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 />lencter or one of Le"1c!6r'-b aff.11atos mayr,~icel'ieC01ffi'hlss:ons on Ih9 pUTctlas-e-ufLtrisinsuram,-e.-----------
<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 Gn::int'(~r....ctoes not agree by signing this Security Instrument to be personally liable on the Secu~ed
<br />Debts. If thIs Sf.!tOti~y Instrument secures a guaranty between Lender and Grantor, Grantor agrees to waive
<br />any rights tharmay 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 Itlstrument may extend, modify or make any change in the terms_of this Security In~t(!.!ment or
<br />arw eviden~e ofc!e~t vl,'ithot.:t GrCintol':>t;onsent. S'JCh 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/4XX283190009371 000051 S704 766260bv. '.'
<br />
<br />@1996 Bankers Systems. Inc.,.St.,Cloud. MN ~
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