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<br />l <br /> <br />200808114 <br /> <br />I, ' <br /> <br />12. <br /> <br />D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any <br />pending or threatened investigation, claim, or J?roceeding relating to the release or threatened release of any <br />Hazardous Substance or the violation of any Env1ronmental Law. <br /> <br />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 /> <br />JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties <br />under this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an <br />evidence of debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured <br />Debt and Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a <br />guaranty between Beneficiary and Trustor. Trustor agrees to waive any rights that may prevent Beneficiary from <br />bringing any action or claim against Trustor or any party indebted under the obligation. These rights may include, but <br />are not limited to, any anti-deficiency or one-action laws. The duties and benefits of this Security Instrument shall bind <br />and benefit the successors and assigns of Trustor and Beneficiary. <br /> <br />SEVERABILITY; INTERPRETATION. This Security Instrument is complete and fully integrated. This Security <br />Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, <br />or any agreement reltlted to the Secured Debt that conflicts with applicable law will not be effective, unless that law <br />expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be <br />enforced according to 1tS terms, that section will be severed and will not affect the enforceabihty of the remainder of <br />this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions <br />and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or <br />define the terms of this Security Instrument. Time is of the essence in this Security Instrument. <br /> <br />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 designatlOn in writing. The successor trustee, without <br />conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security <br />Instrument and applicable law. <br /> <br />NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class <br />mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in <br />writing. Notice to one trustor will be deemed to be notice to all trustors. <br /> <br />WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights <br />relating to the Property. <br /> <br />LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced <br />to a zero balance, this Security Instrument will remain in effect until released. <br /> <br />APPLICABLE LAW. This Security Instrument is governed by the laws as agreed to in the Secured Debt, except to <br />the extent required by the laws of the jurisdiction where the Property is located, and applicable federal laws and <br />regulations. <br /> <br />RIDERS. The covenants and agreements of each of the riders checked below are incorporated into and supplement and <br />amend the terms of this Security Instrument. <br />[Check all applicable boxes] <br /> <br />D Assignment of Leases and Rents D Other __ ___ __ _ _ <br /> <br />13. <br /> <br />14. <br /> <br />. 15. <br /> <br />16. <br /> <br />17. <br /> <br />18. <br /> <br />19. <br /> <br />20. <br /> <br />21. <br /> <br />D CONSTRUCTION LOAN. This Security Instrument is a construction security interest which secures an <br />obligation incurred for the construction of an improvement on the Property. <br /> <br />22. <br /> <br />D ADDITIONAL TERMS. <br /> <br />SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in <br />any a,t,t,a, Chm, "",e", n"", ,t",s"",,' T" ru, , sto, ,r, also aCkn"" owledges receipt of a copy, of this Security Instrument on the date;;, d on P, age 1. <br /> <br /> <br />~ () ~o <br />~~/ - f'~!/-??j>~~~ t C~/H~ <br /> <br />(Signature) FRED L SCARBOROUGH (Date) (Signature) SUSAN E SCARBOROUGH (Date) <br /> <br />ACKNOWLEDGMENT: <br /> <br />(Individual) STATE OF Nebraska _ , COUNTY OF __ _ Hall } ss. <br />This instrument was acknowledged before me this __16.th day of september:J __ _2008 ___ _ <br />by Fred L ScarbQrollg!1__c!Q.9__ _~\l~?-__n _~_ sW~oroUgh, Husban ,and Wl.fe <br /> <br />Mycommissione.x.llires: D.e.C. 29, 2008 V~___C;Z.!~----- <br /> <br />~ GENERAl. NOT MY - Slate of Nebraska <br />A CHRIS L KASKIE <br />, My Comm. Exp. Dec. 29, 2008 <br /> <br />(N olary Public) <br /> <br />C-08-09-16-000080 <br /> <br />EJ<I5iiie.~ 0' 994 Bankor. Systems, Inc., St. Cloud. MN Form OCP-AEDT-NE 5/1 0/2005 <br /> <br /><8 -C465(NE) (05061 <br />(p) <br /> <br />(page 4 of 4) <br />