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<br />200700636
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<br />Unless otherwise agreed in writing, all insurance proce~~s sl~all be. applied to the. restoration or repair of t1~e ~rorerty or to
<br />the Secured Debt whether or not then due, at BenefIcIary s optlOn. Any apphcatlOn of proceeds to pnnClpa shall not
<br />extend or postPo.n~ the. due date of the s. cheduled pa.yme.nt nor change the amount of any payment. Any excess will be paid
<br />to the Grantor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proce~ds res~lrting
<br />from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt ll111nedlately
<br />before the acquisition.
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<br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
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<br />21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any
<br />financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, delIver, and file any
<br />additional documents or certifications that Beneficiary ma~ consider necessary to perfect, continue, and preserve Grantor's
<br />obligations under this Security Instrument and Beneficiary s lien status on the Property.
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<br />22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br />this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of
<br />debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor
<br />does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between
<br />Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim
<br />against Trustor or any party indebted under the obligation. These rights may include, but are not limited to, any
<br />anti-deficiency or one-action laws. Trustor agrees that Beneficiary and any party to this Security Instrument may extend,
<br />modify or make any change in the terms of this Security Instrument or any eVIdence of debt without Trustor's consent.
<br />Such a change will not release Trustor from the terms of this Security Instrument. The duties and benefits of this Security
<br />Instrument shall bind and benefit the successors and assigns of Trustor and Beneficial.
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<br />23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the
<br />jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the
<br />'Property is located. This Security Instrument IS complete and fully integrated. This Security Instrument may not be
<br />amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to
<br />the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the
<br />variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that
<br />section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used,
<br />the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security
<br />Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time
<br />is of the essence in this Security Instrument.
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<br />24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a
<br />successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of
<br />the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and
<br />applicable law.
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<br />25. NOTICE. ~nless otherwise required by law, aflY notice shall be given by delivering it or by mailing it by first class mail to
<br />the appropnate rarty's address on page I of thIS Security Instrument, or to any other address designated in writing. Notice
<br />to one trustor WIll be deemed to be notice to all trustors.
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<br />26. W A~VERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights
<br />relatll1g to the Property. .~ '_ '----- ,"____'n______ ,.__" u_ .." --
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<br />27. OTHER TERMS. If checked, the following are applicable to this Security Instrument:
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<br />o Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be
<br />reduced to a zero balance, this Security Instrument will remain in effect until released.
<br />o Construction Loan. This Security Instrument secures an obligation incurred for the construction of an
<br />improvement on the Property.
<br />o Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future
<br />and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing
<br />statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of
<br />the Uniform Commercial Code.
<br />D Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement
<br />and amend the terms of this Security Instrument. [Check all applicable boxes]
<br />o Condominium Rider D Planned Unit Development Rider 0 Other
<br />D Additional Terms.
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<br />SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any
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<br />'[(2:':~" ,,;,copy ofthi, S~,;;::;;~~L
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<br />(Signature) ~ORY SHANE MEMBER (Date) (Signatur. ) MICHEri:'E ~E~ '., MEMBER
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<br />ACKNOWLEDGMENT:
<br />STATE OF NEBRASKA ..' COU TY OF HALL
<br />This instrument was acknowledged before me this 16TH day of JANUARY,
<br />by GREGORY T. SHANER AND MICHELLE J. SHANE;' ~EMBER, S OF GMS
<br />My commission expires:
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<br />4 GENERAl NOTARY. State of Nebraska
<br />J JUSTIN GRAYBILL
<br />My Comm. Exp. Jan. 28, 2009
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<br />(Dale)
<br />
<br />(h\dividual)
<br />
<br />}ss.
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<br />LLC
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<br />Ex{5eiT:J: 0 1994 Sankers Systems, Irlc., St. Cloud, MN Form RE,DT.NE 1/30/2002
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<br />G -C165(NE) (0301)
<br />@
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<br />(page 4 of 4)
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