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