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�� , 2011:03�� 201102855 20. 21. 22. 23. 24. 25. 26. 27. Unless otherwise agreed in writing, a11 insurance proceeds sha11 be applied to the restoration or repa.ir of the Property or to the Secured Debt, whether or not then due, ax Beneficia.ry's option. Any application of proceeds to principal sha.11 not extend or postpone the due date of the scheduled payment nor cha.nge the amount of any payment. Any excess will be paid to the Grantor. If the Propetty is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficia.ry to the extent of the Secured Debt immediately before the acquisition. ESCROW FOR TAXES AND, INSiTRANCE. Unless otherwise provided 'in a separate agreement, Trustor will not be required to pay to Beneficiary funds for taxes a.nd insurance in escrow. FINANCIAL REPORT5 AND ADDI1'IONAL DOCiJMENT5. Trustor will provide to Beneficia.ry upon request, any fina.ncial statement or informa.tion Beneficia.ry may deem reasona.bly necessary. Trustor agrees to sign, detiver, a.nd file any additional documents or certif'ications that Beneficiary ma.y consider aecessary to perfect, continue, and preserve Grantor's obligations under this Security Instnttnent and Beneficiary's lien staxus on the Property. JOINT AND INDNIDUAL LIABILITY; CO-SIGNERS; SiJCCESSOR5 AND ASSIGNS BOiJND. All duties under this Securiry Instrument are joint a.ad individual. If Trustor signs this Security Instnunent but does not sign an evidence of debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be personally lia.ble on the Secured Debt. If this Security Instrument secures a guara.nty between Beneficiary and Trustor, Trustor agrees to waive any rights that ma.y prevent Beneficia,ry from bringing any action ar cla.im 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 agrees tha.t Beneficiary and any party to this Securiry Instrument ma,y entend, modify or make any cha.nge in the terms of this Securiry Instrument or any evidence of debt without Trustor's consent. Such a change will not release Trustor from the terms of this Securiry Instrument. The duties and benefits of this Securiry Instrument shall bind and benefit the successors and assigns of Trustor and Beneficia.ry. APPLICABLE LAW; SEVERABILITY; INTERPRETAI'ION. This Securiry Instrument is governed by the la.ws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Securiry Instrurnent is complete and fully integrated. This Securiry Instrument ma.y not be amended or modif'ied by oral agreement. Any section in this Securiry Insttvznent, atta:chments, or a.ny agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the varia.tions by wriuen agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not a.ffect the enforceabiliry of the remainder of this Securiry Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Securiry Instrument. Time is of the essence in this Securiry Instrument. 5LICCES50R TRU5TEE. Beneficiary, at Beneficia.ry's option, may from time to time remove Trustee and appoint a successor trustee without any other formaliry tha.n the designaxion in writing. The successor trustee, without conveyance of the Property, sha11 succeed to a11 the title, power and duties conferred upon Trustee by this Securiry Instrument and applicable law. NOTICE. Unless otherwise required by law, any notice sha11 be given by delivering it or by mailing it by first class ma.il to the appropria.te party's address on page 1 of this Securiry Insttument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to a11 trustors. �V��S. Except ta the extcnt prohibited bp law, Trustor wa.ives all appraisement and Itomestead ex�nnption rights relating to the Property. OTHER TERMS. If checked, the following are applicable to this Security Instrument: ❑�.ine of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Securiry Instrument will remain in effect until released. �1 Construction Loan. This Securiry Instnunent secures an obliga.tion incurred for the construction of an improvement on the Properiy. ❑ Fixture Filing. Trustor grants to Beneficiary a securiry interest in all goods that Gra.ntor owns now or in the future and that are or will become fuctures related to the Property. This Securiry Instnnnent suff'ices as a fina.ncing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. ❑ Additional Terms. ❑ Riders. The covena.nts and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument. [Check a11 appiica.ble boxes] 0 Condominium Rider ❑ Planned Unit Development Rider ❑ Other .................................................. �IGP�A�'�JY�S: By siguing belaw, 1'rustor agrees to the tertns a.t�d covena.nts cont�ai�eu in t1�is Securi�y Ir�t�utnent and in any atta.chments. Trustor also acknowledges receipt of a copy of this Securiry Instrument on the da.te sta.ted on page 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . o.Y. : �:�.e i (Signature) Cory G. Muhlbach �a�� .... � ....................................................................... (Si�aWre) (Date) ACBNOWLEDGMENT: STATE OF N.Qh�aska ....................................... COUNTY OF Hauv.azd............................................} ss. �°e'� This instrument was acknowledged before me this . .. . .. . . .Sth .... .... da.y of .. . . . . . . . . ......... Apri1,.20J 1.... . ..... . . .. ...... byFa�.G,.Muhlbacb.SiaglePe�svn ........................................... ........ .......... ....................................... . My commission expires: 07-142014 ....... .. .. .. ........................................... ...�vorffiy r�u�) Kirby Eppert � OO 1994 Bankers Systems, Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002 '�� (page 4 of 4) �.�`�� i�Y EPPERT < MY� F�R. �1/4� 7ffi14