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<br /> r 200905529
<br /> Z, 1 D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is artyy pending
<br /> or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous
<br /> Substance or the violation of any Environuental Law,
<br /> 12. ESCROW FOR TAKES 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 /> 13. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br /> this Security Instrument are joint and individual. If Trustor signs this Sccurity 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 a personally liable on the Secured Debt, If this Security Instrument secures a guaranty between
<br /> Beneficiary and Trustor, Trustor agrees to waive any ri hts that may prevent Beneficiary from bringing any action or claim
<br /> against Trustor or any party indebted under the obligation. These rights may include, but are not limited to, any
<br /> anti-deficiene or onc-action laws. The duties and benefits of this Security Instrument shall bind and benefit the successors
<br /> and assigns of Trustor and Beneficiary.
<br /> 14, SEVE,RABILIT'Y; 1NTERPRE'1'ATION. This Security Instrument is, complete and fully integrated. This Security
<br /> Irultrutncnt may not be amended or modified by oral agreement, Any section in this Security Instrument, attachments, or
<br /> any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly
<br /> or In )liedly perinits the variation, by written agreement. If any section of this Security Instrument cannot be enforced
<br /> according to its terms, that section 'will be severed and will not affect the enforceability of the remainder of this Security
<br /> Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of
<br /> the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of
<br /> this Security Instrument, Time is of tiie essence in this Security Instrument.
<br /> J.S. SUCCESSOR TRUSTEE. Beneficiary, at Berreficiary's option, may from time to time remove Trustee and appoint a
<br /> successor trustee without any other formality 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 Instrument and
<br /> applicable law.
<br /> 16. 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 1 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 /> 17. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights
<br /> relating to the Property,
<br /> 18. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a
<br /> zero balance, this Security Instrument will remain in effect until released.
<br /> 19. APPLICABLE LAW, This Security Instrument is governed by the laws as agreed to in the Secured Debt, except to the
<br /> extent required by the laws of the jurisdiction where the Property is located, and applicable federal laws and regulations,
<br /> 20. RIDERS. The covenants and agreements of each of the riders checked below arc incorporated into and supplement and
<br /> amend the terries of this Security Instrument.
<br /> [Clieck all applicable boxes]
<br /> © Assignment of Leases and Rents © Other
<br /> 21, © CONSTRUCTION LOAN. This Security Instrument is a construction security interest which secures an obligation
<br /> incurred for the construction of an improvement on the property,
<br /> 22. ❑ ADDITIONAL TERMS.
<br /> SIGNATURES: By signing below, Trustor agrees to the tertiis and covenants contained in this Security Instrument and in any
<br /> attachments. Trustor ho acknowledges receipt of a copy of this Security Instrunictit on the date stated on page 1.
<br />
<br /> Cr,
<br /> (Signature) Mark A, McMahan
<br /> (Date) (Signi(ture)►y► McM on Date
<br /> ACKNOWLEDGNIENT:
<br /> STATE OF .Na6raskq COUNTY OF N TP!la
<br /> This instrument was acknowledged before me this .22nd , • , • • , • • • day of JBne, 9R
<br /> by Mark A,•McMahan;•MaryR, McMahan••••,•.,,••••••••.
<br /> My commissioncxpiresi..
<br /> anus
<br /> GENERAL kolum"It TItE J11
<br /> Z ~N Yublic)~
<br /> im 2, 0 1094 Bankers Systems, Ina. $L Cloud, MN Form QCP-REpe-NE 6/10/2006 (page 4 of 4)
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