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2oiuo�si� Unless otherwise agreed iu writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall nat extend or pastpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the Grantor. Tf the Property is acquired by Beneficiary, Trustar's right to any insnrance policies and proceeds resulting from damage to the Property before tl�e acquisition shall pass ta Beneficiary to the extent of the Secured Debt inunediately before the acquisition. 20. ESCROW FOR TAXES AND INSURA.NCE. Unless otl�erwise providerl in a separate agreement, Trustor will not be required to pay to Beneficiary funds for taxes and ipsurance in escrow. 21. �'INANCIAL REPORTS AND ADDITIONAL DOCiJMENTS. Trustor will provide to Beneficiary upon request, any financial statennent or ipformation Beneficiary may deem reasauably necessary. Trustor agrees to sign, deliver, and f'rle any additional dacwnents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this 5ecurity Instrurnent and Beueficiary's lien status on the Property. 22. ,TOINT AND IlVDNIDUAL LIABII.TTY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BaUND. All duties under this Security Instrument are joint and individual. If Trustor signs this Securiry Instrumeut but does nat siga an evidence of debt, Trustar does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt aud Trustar does not agree to be personally liable oa the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor agrees �o waive any_ rights that may prevent Beneficiary from bringing any action or claun against Trustor or any party indebted under the abligation. These rights may include, but are not l'rmited to, any anti-deficiency or one-action laws. Trustor agrees that Beneficiary and any party to this Security Instrument may extend, modify or make aay change in the teruis of this Security Iustrument or any evidence of debt withaut Trustor's consent. Such a change will uat release Trustor from the terms of this Securiry Instrument. The duties and benefits of this Securiry Instrument shall biud aud benefit the successors and assigns of Trustor and Beneficiary. 23. APPLICABLE LAW; SEVERABILTI'Y; INTERFRETATION. This Securiry Instruuraeut is governed by the laws of the jurisdiction in which Beneficiary rs located, except to the extent ott�erwise requrred 6y the laws of the jurisdiction where the Property is located. This Security Instrument is compleCe and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Securiry Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressiy or impliedly permits the variations by written agreement. If any section of this Securiry Instrumeut cannoc be enfarced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Securiry Instn�ment. Whenever used, the singular shall include the plura! and the plural the singular. The captions and headings of the sectious of this Securiry Instrurnent are far couvenience on(y and are not to be used ta interpret or defiae the terms of this Security Instrument. Time rs of the essence iu this Securiry Instrwnent. 2A. SIJCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove 'T'rustee and appoint a successor trustee without any other formality than the desiguation in writing. The successor trustee, without conveyance of the PropeRy, shall succeed to all the title, power and duties canferred upon Trustee by this Securiry Instrument and applicable law. 25. NOTICE. Unless otherwise required by law, any notice shall be given by deliveriag it or by mailing it by f'rrst class mail tp the appropriate party's address an page 1 of this Security Ipstrument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all trustars. 26. WAIVERS. Except to the extent proktibited by law, Trustar waives a1l appraisement and iaomestead exempcion—�h�s relating to the Property. 27. OTHER TERMS. If checked, the following are applicable to this Security Instrument: ❑ Line oF Crc�dit. The Secured Debt iucludes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balauce, this Securiry Instrument will remain in effect until released. ❑ Coustruction Loan. This Security Instrument secures an obligation incurred for the construction of a�► unprovement on the Praperty. ❑ Fixture Filing. Trustar grants to Beneficiary a securiry interest in all goods that Grantor owns now or iu the future aud that are or will become fixtnres retated to the Property. This Security Instrument suffices as a financing statemeat and any carbon, photographic or other reproduction may be filed of recard for purposes of Article 9 of the Uniform Concu�nercial Code. ❑ Riders. The covepants aad agreements of each of the riders checked below are incorporated into and supplement and axnead the terms of this Security Instrumeat. [Check all applicable boxes] ❑ Condominium Rider C7 Planned Unit Development Rider 0 Other .................................................. ❑ Additioual Terms. SIGNA'Y`[�tESc Bq signing "�Low, Trustoc agrees to the terms and covenants contained in this Securiry Instrument aned in any attachrnents. Trustor also acknowledges receipt of a capy af this 5ecurity Instrument on Che date stated on page 1. i ............ . ...................l..d .:.�':. � �? . .. ....... ... .....:..... ............. �.�.-:�� ......�... . ... .... .. . : ..... (Si�a�ure) Ted M. Schultz (pec�> (s��cure> Sonya hultz (bate) ACKNOWLEDGMENT: s�rAT� oF NeGra�ka ...................................... COUNTY oP Hall...............................................} ss. � This instrument was acknowledged before me tt�is ........ �tb........ day of ... . . . . . . . .......00x1�leC 20.10....... .. . . . ..... by Ted. M..S�hultz;. �oay.a .Schultz..H.usband.and .W. .if� ...................... ...................... .............................. . My commission expires:10-23-2011 .......... . . .. .. ..................................................... (Notary Public) Mike Ueines �"' � 1994 6ankers Systomn, Inc., St. Cloud, MN Form FiE-DT-NE i i3onooz GENERAL NOTARY - State of Nebraska �paqe 4 of 41 I� MIKE DEINES � My Camm. Exp. Oct. 23, 2�11 ,. , � ,�