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<br />other means. Grantor authorizes Lender to intervene in Grantor's name in any of the above described actions or
<br />claims. Grantor assigns to Lender thr, proceeds of any award or claim for damages connected with a
<br />condemnation or other taking of all or any part of tht. Property. Such proceeds will be considered payments and
<br />will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of
<br />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 insuran...:e 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 renewals will inchde a standard "mortgage clause" and, where applicable, "loss payee
<br />clause." If required by Lender, Grantor agrees to maintain comprehensive general liability insurance and rental
<br />loss or business interruption insurance in amounts and under policies acceptable to Lender. The comprehensive
<br />general liability insurance must name Lencl"Jr as an additional insured. The rental loss or business interruption
<br />insurance must be in an amount equal to at least coverage of one year's debt service, and required escrow
<br />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 Dehts, Fit Len(1er' f: aptian, !f Le'~dor
<br />acqufres 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 Debt.::.
<br />Grantor will immediately notify Lender of cancellation or termination of insurance. If Grantor fails to keep the
<br />Property insured, Lender may obtain insur.:<nce 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 t\l the balancp. of the Secured Debts and charge interest on it at the
<br />rate that applies to the Secured Debts. Thl:'; i.,surance may include coverages not originally required of Grantor,
<br />may be written by a company other than one Grantor would choose, and may be written at a higher rate than
<br />Grantor could obtain if Grantor purchased the insurance. Grantor acknowledges and agrees that lender or one
<br />of Lender's affiliates may receive commissions on the purchase of this insurance.
<br />20. ESCROW FOR TAXES AND INSURAr'i:E. 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 Ser,urity Instrument but is not otherwise obligated to pay the Secured
<br />Debts, Grantor does so only to convey (;. antor's interest in the Property to secure payment of the Secured
<br />Debts and Grantor does not agree by signing this Security Instrument to be personally liable on the Secured
<br />Debts. If this Security Instrument secures a guaranty between Lender and Grantor, Grantor agrees to waive any
<br />rights that may prevent Lender from bringini) any action or claim against Grantor or any party indebted under
<br />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 :-es;gnation in writing. The successor trustee, without
<br />conveyance of the Property, will succerd to all the title, power and duties conferred upon Trustee bV this
<br />Security insuUrnem and applicable iaw.
<br />23. APPLICABLE LAW. This Security Irl3trument is ~overned by the laws of Nebraska, the United States of
<br />America, and to the extent required, by th(. 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 SUCCESSO:"::S. Each Grantor's obligations under this Security
<br />Instrument are independent of the obligations of any other Grantor. Lender may sue each Grantor individually or
<br />together with any other Grantor. Lender m~'v release any part of the Property and Grantor will still be obligated
<br />under this Security Instrument for the rLI naining Property. Grantor agrees that Lender and any party to this
<br />Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any
<br />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 benciits 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 made
<br />in writing and ,J!.)(ecute,gJ1Y__Gr2.'l!2!..an_Q.,~~nder. This Security Instrument and any other documents relating to
<br />the Secured 1:. ,- tllll,Cll<IOtI'1...e,'cnlO Iral exp,,-,,;on of the agreement. II any pmv;s;on of th;s Secur;ty
<br />In~trument is ne~F~f("tHili~~'~"~iP~f~~;~~V..rrceableprovision will be severed and the remaining provisions will
<br />stIli be enforc 0... ,.-..... . ._.~._'._-..
<br />26. INTERPRETATIC'N. Whenever used. the singular includes the plural and the plural includes the singular.
<br />The section headings are for convenience nnly and are not to be used to interpret or define the terms of this
<br />Security Instrument.
<br />27. NOTICE. FINANCIAL h..::i5(),-rr;.;, AG'U!TI0NAL TnJ~l.~Iv}~i'iTS ANDRECORDiN3 T_~X2Z. U:i!es:,: ;)thfoiv/ise
<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 PAfHIES section, or to any other address designated in writing. Notice
<br />to one Grantor will be deemed to be notil,~IO all Grantors. Grantor will inform Lender in writing of any change
<br />in Grantor's name, address or other ar1plication information. Grantor will provide Lender any financial
<br />statements or information Lender requests. All financial statements and information Grantor gives Lender will
<br />be correct and complete. Grantor agrees to pay all expenses, charges and taxes in connection with the
<br />preparation and recording of this Security Instrument. Grantor agrees to sign, deliver, and file any additional
<br />documents or certifications that Lender may consider necessary to perfect, continue, and preserve Grantor's
<br />obligations under this Security Instrument -:::nd to confirm Lende'r's lien status on any Property, and Grantor
<br />agrees to pay all expenses, charges and taxes in connection with the preparation and recording thereof. Time is
<br />of the essence.
<br />
<br />.1
<br />
<br />Michael D. Raasch
<br />Nebraska Deed 01 Trust
<br />NE/4XX23220400937100005187016112006Y
<br />
<br />@19Qr, Bankers Systems, Inc.. St. Cloud, MN ~
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