|
<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 />
|