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<br />200801155
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<br />Unless otherwise agreed in writing, all insurancc procceds shall be applied to the rcstoration or repair of the Property or to
<br />the Secured Debt, whether or not then due, at Bencficiary' s option. Any application of proceeds to principal shall not
<br />extend or postponc thc due date of the scheduled payment 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 proceeds resulting
<br />from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br />before the acquisition.
<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.
<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 may consider necessary to perfect, continue, and preserve Grantor's
<br />obligations under this Security Instrument and Beneficiary's lien status on the Property.
<br />22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br />this Security Instrument arc 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
<br />Trustor 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 [() waive allY rights that may prevent Beneficiary from bringing any aclioll 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. 'rrustor agrees that Beneficiary and any party to this Security Instrument may extend,
<br />rllodify or make any change in the tenns of this Security Instrument or any evidence of debt without Trustor's consent.
<br />Such a change will not release Trustor from the temlS of this Security Instrument. The duties and benefits of this Security
<br />Instrument shall bind and benefit the successors and assigns of Trustor and Beneficiary.
<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
<br />the 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 exprcssly or impliedly permits the
<br />variations by writtcn agreement. If any section of this Security Instrument cannot be enforced according to its tenns, that
<br />section will be scvered and will not affect the enforceability of the remainder of this Security Instrument. Whenever used,
<br />the singular shall include the plural and tbe plural the singular. The captions and headings of the sections of this Security
<br />I nstrument are for convenience only and arc not to be used to interpret or define the temlS of this Security Instrument.
<br />Time is of the essence in this Security Instrument.
<br />24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to lime remove Trustee and appoint a
<br />successor trustee without any other fonnality 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 I nstrument and
<br />applicable law.
<br />25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail
<br />to the appropriate party's address on page I of this Security Instrument, or to any other address designated in writing.
<br />Notice to one trustor will be deemed to be notice to all trustors.
<br />26. WAIVERS, !"\xccpt to the extent prohibit<:;.! by :,;W, TruWlf vnd','es all appntbLlll<:ill am': llOll1e~teaJ cJ(empiiuil rigllls
<br />relating to the Property.
<br />27. OTHER TERMS. If checked, the following are applicable to this Security Instrument:
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<br />D Line of Credit. The Secured Deht includes a revolving line of credit provision. Although the Secured Debt may he
<br />reduced to a zero balance, this Security Instrument will remain in effect until released.
<br />D Construction Loan. This Security T nstrument secures an obligation incurred for the construction of an improvement
<br />on the Properly.
<br />D Fixture Filing. Trustor grants to Beneficiary a security interest in all goods lhat Grantor owns now or in the future
<br />and that arc or will become fixtures related to the Property. This Security [nstrument suffices as a financing
<br />statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of thc
<br />Unifonn Commercial Code.
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<br />D Ridel.S, The covenants and agreements of each of thc riders checked below are incorporated into and snpplement and
<br />amend thc tenns of tbis SecuriTY Instrwnent. I Check all applicable boxes]
<br />D Condominium Rider D Planned U nit Development Rider D Othcr............... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
<br />D Additional Terms.
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<br />SIGNATURES: By signing below, Trustor agrees to.the t.erms anqco\,~.nants.~lltained in this Sccurity lnstcumentand inaHY.
<br />allachments. Trustor also acknowledges receipt of a copy of this Security Instrwnent on the date stated on page
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<br />!~ jY/::l;l~/t:-
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<br />~ (Sig'f.:~ Bobby D. Dubbs
<br />
<br />i-I/-oe,
<br />,.......................
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<br />~2:::fJHH
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<br />(Signature) Kevin L. Dubbs
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<br />I-I 7~ Or;
<br />..-.................. .....
<br />(Date)
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<br />(Date)
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<br />ACKNOWLEDGMENT:
<br />ST A TE or Nebraska..............................., COUNTY OF ....................................................} ss.
<br />This instrument was acknowledged before me this ........1.1.t.h....... day of .................JaOJ./ij[y.20.08.................
<br />by I3QbbV .D,.D.llbb~;.K~~in.L.. Bl:lbh. Single Persp.ns:....................................... .... 2' .~:..... ......... .. .
<br />My commission expires: Wi ., j' c.....-'"
<br />'// C ..
<br />.. .. . .,UtC#.:IJ:":. . . . . . ..r;/). .... . . . . . . . . . . . . . . . . . .. . .. .. . .
<br />(Notary Public)
<br />
<br />(luJiviJual)
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<br />~~ @ 1994 Bankers System,. lno.. St. Cloud. MN Form RE.DT NE 1/30/2002
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<br />J;.. GENERAL NOTARY - State of Nebraska
<br />· WilLIAM E. LUEHR
<br />'., My Comm. Exp. Oct. 30, 2009
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<br />(page 4 of 4)
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