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200610725 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Deht, 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 payment nor change the amount of any payment. Any excess will be paid to the Grantor. If the Property is acquired by Beneficiary, Trustor'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, Trustor will not he 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 additiunal documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary I s lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of deht, Trustor does so only to mortgage Trustor's inlerest in the Property to secure payment of the Secured Deht and Trustor does not agree to he personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor agrees-to waive any: rights that may prevent BeneficialY frolll bringing any action or elaim against Trustor or any party indebted under the obligation. These rights may include, hut are not limited to, any anti-deficiency or <me-action laws. Trustor agrees that Beneficiary and any party \0 this Security Instrument may extend, modify or make any change in the tenns of this Security Instrument or any evidence of debt without Trustor's consent. Such a change will not release Trustor from the tenns of this Security Instrument. The duties and benefits of this Security Instrwnent shall hind and benefit the successors and assigns of Trustor and Beneficiary. 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 and fully integrated. This Security Instrwnent may not be amended or modified by oral agreement. Any section in this Security Instrwnent, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly pennits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its tenns, 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 Instrwnent are for convenience only and are not to be used to interpret or define the tenns of this Security Instrument. Time is of the essence in this Security Instrwnent. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without any other fomlality 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 he given by delivering it or by mailing it by first elass mail to the appropriate party's address on page I of this Security Instrument, or to any other address designated in writing. Notice 10 one trustor 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 Instrument: D Line of Credit. The Secured Debt ineludes 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. D Construction Loan. This Security Instrumenl secures an obligation incurred for the construction of an improvement on the Property. D FixtUl'e Filing. Trustor grants to Beneficiary a securily interest in all goods that Grantor owns now or in the future and tbat are or will become fixtures related to the Property. This Seeurity 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 Connnercial Code. D Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrwnent. [Check aU applicable boxes I D Condominium Rider D Planned Unit Development Rider D Other .................................................. D Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Trustor al so acknowledges receipt of a -copy of this Sccurity Instrument on the date stated on page 1. .4 '2Z;~M~L;;~Q(~.............iD;~;. ...~...I(!....~~................................ (Signature) Jerome Q. larson (Date) ACKNOWLEDGMENT: STATE OF Nebril.~kll.................. ..................., COUNTY OF Hall..... ................................... ........} ss. This instrwnent was acknowledged before me this ....... .24.t.h . . ... .. day of ............... NOY.llmber. 20.06.. . . . . . . . . . . . . . . hy Mllr.gllrel.E,.LarsPJ1;. J.llr.Qme.Q..Lllr~.QIJ. .Hll.~ban.d .1lIJd.Wite........ ..................... f1d;....... ................................. My commission expires: .u~...r.. .. ................................ ( ry Public) William E. luehr ~,g:: @1994 Sanko,. Systems. Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002 (lndividllal) (p~ge 4 of 4) J;NERAl NOTARY. Stale of Nebraska WILLIAM E.LUEHR . My Comm. Exp. Oct. 3D, 2009