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<br />~ ,~ 'l.. II. '\.." ',. "'~
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<br />200808501
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<br />12.
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<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 I?roceeding relating to the release or threatened release of any
<br />Hazardous Substance or the violation of any EnVlfonmental Law.
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<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.
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<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.
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<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 related 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 Its tenus, 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 tenus of this Security Instrument. Time is of the essence in this Security Instrument.
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<br />SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a
<br />successor trustee without any other fonnality than the designatton in writing. The successor tru~tee, 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.
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<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 I 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.
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<br />WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights
<br />relating to the Property.
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<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.
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<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.
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<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]
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<br />D Assignment of Leases and Rents D Other
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<br />13.
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<br />14.
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<br />15.
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<br />16.
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<br />17,
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<br />18.
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<br />19.
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<br />20.
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<br />21.
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<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.
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<br />22.
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<br />D ADDITIONAL TERMS.
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<br />SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in
<br />any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1.
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<br />'l!!.~I.:~ uu 9:~~? 1-~~oc~~uuuCj-~:'J!Y
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<br />ACKNOWLEDGMENT:
<br />STATE OF N~p};:~l?1<_C! __ __ _ __ __ __ __ _ __ _ , COUNTY OF _ !t~~J-, _ __ __ _ __ __ _ n __ __ _ _ __ __ } Ss.
<br />(Individual)
<br />This instrument was acknowledged before me this 2 6th day of September-,,- -20,0-8 _ _ _ _ __ _ _ _,
<br />by __lV!.~gp._B:~~_ JL<:pcl1ran and Janet A Cochran, Husband and-Wi-f-e ___ ,___
<br />Mycommissionexpires;"D- 29, 2008 ~)..., f::::..~~
<br />GENERAl NOTARY. StBte 01 Nebraska ' , , "" " ' "" '"
<br />CHRIS L KASKIE (Notary Public)
<br />My Comm. Exp. Dec. 29, 2008
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<br />C-OB-09-11-000060
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<br />~@ 01994 Bankers Systems, lne.. St. Cloud, MN Form OCP-REDT-NE 6/1 0/2005
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<br />. -C465(NE) (0506)
<br />@
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<br />(page 4 of 4)
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