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200706716 Unless otherwise agreed in writing, all insurance proceeds shaU he applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shaU not extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will he 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 wiU not be required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor wiU provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional docwnents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security I nstrument and Beneficiary's lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO.SIGNERS; SUCCESSORS AND ASSIGNS BOUND. AU duties under this Security Instrwnent are joint and individual. If Trustor signs this Security Instrwnent but does not sign an evidence of debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be personally liahle on the Secured Debt. If this Security Instrwnent secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rightS that may prevent Benetktaryfrom bringing any action or claim against Trustor or any party indebted under the ohligation. These rights may include, but are not limited to, any anti-deficiency or one-action laws. Trustor agrees tbat Beneficiary and any party to tbis Security Instrwnent may extend, modify or make any change in tbe terms of this Security Instrwnent or any evidence of debt without Trustor's consent. Such a change will not release Trustor from the terms of this Security Instrument. The duties and benefits of this Security Instrwnent shall bind and benefit the successors and assigns of Trustor and Beneficiary. 23. APPLICABLE LAW; SEVERABILITY; INTERPRET A TION. This Security Instrument is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required hy the laws of the jurisdiction where the Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified hy 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 tbat law expressly or impliedly penuits the variations by written agreement. If any section of tbis Security Instrwnent cannot be enforced according to its terms, thaI section will be severed and will not affect the enforceability of tbe remainder of this Security Instrwnent. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of Ihis Security lnstrwnent are for convenience only and are not to be used to interpret or define the terms of this Security Instrwnent. 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 formality than the designation in writing. The successor trustee, without conveyance of the Property, shall succeed to aU the title, power and duties conferred upon Trustee by this Security Instrwnent and applicable law. 25. NOTICE. Unless otherwise required by law, any notice sball be given by delivering it or hy mailing it by first class mail to the appropriate party's address on page I of this Security Instrwnent, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to aU 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 Instrwnent: D Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Deht may be reduced to a zero balance, this Security Instrument will remain in effect until released. D Construction Loan. Tbis Security Instrument secures an obligation incurred for the construction of an improvement on the Property. D Fixture Filing. Trustor grants to Beneficiary a security interest in aU goods that Grantor owns now or in the future and that are or will become fixtures related to the Property. This Security 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 Commercial 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 Instrument. [Cheek aU applicable boxes] o Condominium Rider D Planned U nit Development Rider D Other.................................................. o Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. lJit.... .. . .....................7~.f)7..~b~7-:3Dill (Signature) William (Date) (Signature) ch~~4ii Gordon (Date) ACKNOWLEDGMENT: STATE OF Nebrll.~ka....................................., COUNTY OF Hall................................................} ss. This instrument was acknowledged before me this ...... ..30th....... day of .................. .July, 20.07................... by William .M. Gordno; .CbOfl'IIi.. GOld.l1.. ~U$b..d and .II'Id. . .....;9........ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . My commission expires: .....7~...../Yl. ~. ~~;;.kI................... t~;~~.~.(y~ (Individual) ~ @'994 Bankors Systerns. Ino.. St. Cloud. MN Forrn RE-PT.NE 1/30/2002 (page 4 of 4) ,4,' ,GENERAL NOTARY. State of Nebraska ill PAULA M. MAYFIELD ~.: _' ~ My Comm. Exp. Oct. 2, 2009