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. 200707412 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whelher or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or postpone lhe due date of lhe 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 lhe acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before lhe acquisition. 20. ESCROW "'OR TAXES AND INSURANCE. Unless olherwise provided in a separate agreement, Trustor will not be 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 additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrwnent and Beneficiary'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 lhis Security Instrument but does not sign an evidence of debt, Trustor does so only to mortgage Trustor's interest in lhe Property to secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrwnent secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rights lhat may prevent Beneficiary from bringing any action or claim against Trustor or any party indebted under the obligation. These rights may include, but are not limited to, any anti-deficiency or one-action laws. Trustor agrees lhat Beneficiary and any party to lhis Security Instrument may extend, modify or make any change in lhe terms of this Security Instrument 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 lhe 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 lhe Property is located. This Security Instrument is complete and fully integrated. This Security Instrument 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 wilh applicable law will not be effective, unless lhat law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the 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 lhis Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without any olher formality 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 Instrwnent and applicable law. 25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page I of this Security Instrument, or to any other address designated in writing. Notice to 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 includes 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 Instrument secures an obligation incurred for the construction of an improvement on lhe Property. D Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future and that are or will become fixtures related to the Property. This Security Instrwnent suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of lhe 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. [Check all applicable boxes] D Condominiwn Rider [] Planned Unit Development Rider D Other.................................................. [] 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 Instrwnent on the date stated on page 1. (/~~...............=.11~~1 ......~.CL~~........']:31:D').. (Signature) WILLIAM CARSTENS (6:~ (Signature) CHERYL A. CARSTENS (Date) ACKNOWLEDGMENT: STATE OF NE6BASl<A...................................., COUNTY OF Hm...............................................} ss. This instrument was acknowledged before me this...... ..3IS:r........ day of .................. . Jlll't.ZO.uZ ................... by WlllIAM.CARSJf.NS; .cljmn A..CARSTENS. HUSMN.ll AND. Wlf.E..ATW~BP.S....... ............................................... . My commission expires: GENERAL NOTARY ~ Sptaote pOf~~bra~~ ... . ... .. .. . . . .. .. . . M STEV 100 (Notary Pubh Comm. E . A ti129, 20 E POPPE - - E 1/30/2002 (Individual) ~ @ 1994 Bankers Systems, I (page 4 of 4J