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j; " 200809179 Unless otherwise agrccd in writing, all insurancc proceeds shall bc applicd to the restoration or repair of the Property or to the Secured Debt, whcther or not then due, at Bcneficiary's (lption. Any application of proeeeds to principal shall not extend or postpone the due date of the scheduled paymcnt nor change the amount of any payment. Any exeess will be paid to the Grantor. If the Property is acquircd by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Bcncficiary to the extent o[ the Secured Dcbt inunediatdy before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separatc agreement, Trustor will not be requircd to pay to Beneficiary funds for taxes and insurancc in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem rcasonably necessary. Trustor agrees to sign, deliver, and file any additional documents or certifications that Beneficiary may consider necessary to perfcct, continue, and preservc (}rantor's obligations undcr this Security Instrument and Beneficiary's lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All dutics under this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Trustor docs so only to mortgage Trustor's interest in the Propcrty to secure payment of the Sccured Debt aud Trustor does not agree to bc personally liable on thc Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary [rom 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 agrccs that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the temIS 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 Instrument shall bind and benefit the successors and assigns of Trustor and Beueficiary. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Sccurity Instrument is governcd by the laws of the jurisdiction in which Beneficiary is located, except to the cxtcnt otherwise required by thc laws of the jurisdiction where the Property is located. This Security Iustrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attaehments, or any agreement related to the Secured Debt that connicts with applieable law will not be effective, unlcss that law expressly or impliedly pennits the variations by written agreement. If any section o[ this Security Instrument cannot be enforced according to its terms, that section will be scvered and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, thc singular shall inelude the plural awl the plural thc singular. The captions and headings of the sections of this Security Instrumcnt are for convenienee only and are not to bc used to interpret or dcfiue the temls of this Security Instrument. Time is of thc 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 other fonnality 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 Instrument and applicable law. 25. NOTICE. Unless otherwise required by law, any notiee shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designatcd in writing. Notice to one trustor will be deemed to be notice to all trustors. 26. WAIVERS. Except to the exteut 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: o Liue of Credit. The Secured Debt includcs a revolving line of credit provision. Although the Secured Debt may be reduced to a zero halauce, this Security Instrument will remain in effect until released. o Coustruction Loan. This Security Instrumcnt secures an obligation incurred for the eonstruction of all improvemcnt on the Property. o Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future and that arc or will hecome fixtures related to the Property. This Security Instrument suffices as a finaneing statement and any carbon, photographic or other reproduction may be filed of record [or purposes of Article 9 of the Uniform Commercial Code. o Riders. The covenants and agreements of each of the riders checked below are incorporatcd into and supplemellt aud amend the terms of this Security Instrument. [Check all applicable boxes] o Condominiwn Rider 0 Planned U nit Development Rider 0 Other ................................................ o Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in allY attachments. Trustor also acknowledges reeeipt of a copy of this Seeurity Instrument on the date stated on page 1. ~..... ..... ..4t(JJ~....jQ{}LO((~2~&~?fl!/iJ~;JJ-Oj (Si ture) BARNEY ItHERN (Date) (Signature) MAXINE Q'HERN (Date) (IndividUal) ACKNOWLEDGMENT: STA'T'E OF NEBR'(\'s~A.......,..,......................,., COUNTY or MERRJC.K.,........................................} ss. This instrumeut was acknowledged before me this ...... ..31 SJ. .. .... day of ........ .. . .. .. p.CrOBEB. 20D.8 .. .. .. .. by .a~Rf)lE~ .O:I-JERf)I;.M4XINE.0:I:lERlIL.l:I.USa~NO.I.\NO. WI~E.........."j""""" ................ 0......... ................. My eommlSSlOllcxplres: 5 -'d\-' 1- ....~~,~....R..~A.....<'.~C. ............. ~M @1994 B<:lnkers Systems, Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002 e E\94.. sw.u. ...ISSIOtJ eIWI IIrt 21.1'11 (page 4 of 4)