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<br />ilnless otherwise agreed iia writing, all insuranee proceeds shall be xpplied to the restoration or repair of tl�e Prop�rty or to
<br />the Secured Deht, whether or uot then due, at Beneficiary's option. Any �pplicaliou o1� procccds to priucipal shall ��ot
<br />extend or postrone the due daCe of [he schcduled paymeut. nor chxnge the �unount of auy payment. Any excess will be p�id
<br />to the Grantor. If tbe Property is acyuire�l by Beneficiary, 'I'rustor's rigl�t to any insurauce policies and proceeds resulting
<br />from dun�ge lo lhe F'roperty before the acyuisition shall pass to 13eueficiary to thc cxtent of the Secured T)eht inunedixtely
<br />hefore the acquisition.
<br />20. ESCROW FOR TAXES AND INSURANCE. lJnless ott�erwise provided in x scpxrate �greemeul, '1"rustur will not be
<br />required to pxy to Beneficiary funds for taxes and insurance i� escrow.
<br />21. FINANCIAL RE�ORTS AND ADDTI"IONAL DOCUMENTS. Trustor will prcivide to T3cneficixry upnu reyuest, xny
<br />fivaucial 5tatement or iufonnatioa Rcneficiary may deem rtxsonxbly necessary. `Trustor xgrcer to ,r•igi.i, deliver, and fiic x��y
<br />additionxl docuinents or certit'icatiuns that Beueficiary i��ay consider uecess�ry to perfECt, co��tinue, �ud preserve C�rxntor's
<br />obligations under this Security Iustrutnent and I3eneficiary's lien stxtus ou the I'roperty.
<br />Z2. JOINT AND INDNIDUAL LIABILTTY; CO-SIGNERS; SUCCE550RS AND ASSIC'�NS BOUND. nll du�ieti undcr
<br />this Securiry Instrumcnt are . joinl and individual. If '1'rustor signs tliis Sccurity Inslrument hut docs not si�n au evide�ice of
<br />debt, '1'rustor �locs so ouly to mor[gagc Trustor's interest in the i'ropcRy to secure rxy�nent of the Secured llebt and
<br />Trustor does nol agree to he persoually liahle on the Secured llebt. If this Security Instrument secures a guaranty be(ween
<br />Heneficiary aud Trustor, '1'rustor xgrces to waive any ribhts thxt may preveut Beneficiary frotn bri�.igiug auy actio�� c�r clxiiii
<br />against Trustor or auy party indehted under the obli�atioa. These rights m�y inctude, hut �re not Ii.Q�iiled tn, any
<br />anti-deTicieucy or oue-action lxws. Truslor a�ree� tliat i3encficiary �nd a►iy party tu this S�curily lnstrument u�xy cxtcna,
<br />modify or rnake any change in the tenns of tl�is Security Instrument or auy evidencc of �leht without Trustor's consent.
<br />5uch a chauge will not rclexse Truslor from the tcnns of this Security Instrmucut. The duties and benef'its oC tliis Securily
<br />I��strurnent shall bind aud ben�:fit the successors xn�l xssigns ot Trustor and Heneficiary.
<br />23. APPLICA$LE LAW; SEVERABILTTY; INTERPRETATION. 'fhis Security lustrumeu� is govcrned hy the laws of the
<br />jurisdiction in which Beneficiary is localed, except to the extent otherwise reyuircd hy tlie I�ws of tl�e jurisdiction where
<br />the Property is located. This Security instrument is completc and fully inte�rated. This Sccurity Iustrumeut may not bc
<br />xmcnded or modified hy oral a�;reement. A►ay section iu lhis Securiry instrument, atcachiiieul.s, ar any agrecu�ent related to
<br />the Secured llebt. tl�at conFlicts with applicxhle law will uot he effective, unless that law exprertily or iinpliedly permit.s ttie
<br />vxriations by written agreen�ent. If auy secliou of this Security lnslrumeut cannot b� cuYorced acccirdiug tn its ter►ns, that
<br />section will be severed atad will not affect the enforceability of [he remainder o1� tk�is Security Instrument. Wl�cnever used,
<br />the singular shall iuclude th�: plural aud the plural the singular. 'The captious aud headings of die sections of ttiis Security
<br />Instrumevc are for couvenience ouly and a.re not to he used to interpret or detine the tenus of tliis tiecuriry lnstrumeni.
<br />Time is of the essence in this Securit.y Ins�run�ent.
<br />24. SUCCESSOR TRUSTEE. Beneficiary, at Beueficiary'� optint�, may f'rom l'une lo ti�xtc rcniove 'I'rustee aud �}�p��int �
<br />successor trustee withouc any olher forrnality thxn lhe designation in writin�;. The successcrr trut[ce without couveyancc ot'
<br />the Property, shall succeed to atl t.l�e t.itle, power and duties coN�ert'�d upon 'I'ruslee hy ttiis Sccurity Instrument nua
<br />applicable l�.w.
<br />25_ NOTICE. Uuless otherwisc reyuired by l�w, any notice sl�all be �iven hy �lelivcring it or hy m�iliug it hy first class mail
<br />tu thc xppropriate p�rty's ad�lress ov page 1 of this Sccurity lustrumeul., <ir to xny other a�laress desig��ate�l iu writin�.
<br />Ncitice to one trustor will be deeu�ed to he uotice lo all trustors.
<br />26. WAIVERS. Lxcent tu the extent prohibit�d hy law, 1'rustor waives all apprxisement aud hcn��cstcxd cxcmptic+n ri��Is
<br />rclatiug to Ihe F'ronerty.
<br />2'�. OTHER TERMS. If cl�ccked, the following xre applicable to this Securiry Inurumeut:
<br />I� Line of Credit. The Securccl Debt includes a revolvin� line of credit. provision. Althc�ugh the Secured 1)eht �ray be
<br />re�luccd to a zero balancc, this Sccurily luslrument will rcrti�in it� effecl uiitil releatie�l.
<br />❑ Construction Loan. This Security lustrurracnt secures an ohligxtion incurrcd for the constructin�� �if an improvemeut
<br />on the Property.
<br />❑ Tixture Filing. Trustor grants to Beneficiary x security interest iu all �ooas that Grantor owns now or itt thc future
<br />and thxt are or will becorr�e fixtures related to the Property. '['his Security I��titrwncnt suf7'ices as a financin�
<br />st�tement and any carbon, photographic or other reproduction mxy bc filed of record for rurp�ncs of Article 9 of tlie
<br />Unifonn Conunercixl C"udc.
<br />CJ Riders. The coveu�nts aad abrrements of e�ch of lhe ri�lers. checkcd below are iucorporated into xnd �Up�IElll�(]l �ud
<br />am�nd tl�e terms of tl�is Security Instrument. �.(�heck all applicahle boxes]
<br />❑ Condomiuium lZider ❑ Planued Unic lleveloPment Rider ❑ C�ther ..................................................
<br />❑ Additional Terms.
<br />S�GNATURES: By siguiug below, Trustor xgrees lo lhe tenus an�l cuven�nts co�taiued in tlais tiecurity lnstrun�et�t and ii� any
<br />attxchn�cnts. Trusror also acknowled�cs rcccipt of a copy of this Security Instrumcnt ou the da.te state� ��n pxgc l.
<br />,p � C� ,.._ _ 1 , ,,.J
<br />�-u�.��,
<br />o� � . . . . . . ... . . . . . . . . . . . . . . . . . . . . .: . . . . . . . . : . . � �. . . . � . . . . 1:l. , . . . . . . l. . . . . .
<br />(Si���iiure) Lance Hermansen• Adam Hurt; Barr Su ern w (U��e) (Si�aiature) S�G. Hermansen; Heather N. Hurt � �� ��
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<br />ACKNOWLEDGMENT:
<br />STATI; OF I�e4�s�ska ..... . ................................. ('( )IJNTY (7P Hall ................................................ } sti.
<br />���"�"��"�� This instrument was acknowled�ed hcfore me this ........l5th........ day of .................Pa.cember,.20.1.0.................
<br />by Ganc�.H�rmansan�Scher�vG..HermansQn;.Adam.Huct.Heatherl�..HUrt;.BarrxS.up�rna�v ........................................................ .
<br />My commission ex '
<br />•��IIIII�Mu . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
<br />�1�� cN<,�:��y r��a,u�)
<br />��� rah Campa (pa_qe 4 of 4,
<br />���^" (-; 1994 6ankers 5ystem , .., , .
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