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<br /> Unless othenvise agreed in writing,all insurance proceeds shall be applied to the rc.�storation or repair of the Property . � "",
<br /> or to the Secured Debt.��vhether ar not then due,at Lender's option.Any application of proceeds to principal shall not < - _ _
<br /> extend or pastpane the due date of the scheduled payment nor change the amount of any payment.Any exc,ess will he ' �=�
<br /> paid to the Grantor.If the Property is acquired by Lender,Grantor's right to any insurance policies and proceeds ' , ""'�
<br /> resulting from ciamage to the Property before the acquisition shall pass to l.c:nder to the extent of the Secwed Debt , �_-"`�
<br /> . iminediately before the acquisition. �, . `��
<br /> 20. ESL'EtOi�V FOE3 T.�XES ElNI)�1VSURANCE.Unless otherwise provided in a separate agreement,Gra�tor will not ' • � • .
<br /> � � be required to pay to Lender funds for taxes and insurance in escrow_ � � . -,
<br /> ZL FdNANCLAL REPOR'['S APID ADDITIONAL DOCUMENI'S.Grantor will provide to Lender upon request,any ,
<br /> finuncial statement or information Lender may deem reasonably necessary. Grantor agrees to sign,deliver,and fiie . . � . _
<br /> r - any addiuonai documents or certifications that Lender may consider necessary to perfect,continue,and preserve - -- --_-----:- -
<br /> Grantor's obGgadons under this Security Instrument and Lender's lien status on the Property. _ � • � .
<br /> Z2, ]OINT'Alvp INDHV[DUAL LIABILITY;CO-SIGNERS;SUCCES�OItS AND ASSIG1oIS BOUIVD.All duties � " '" ,� -
<br /> under this Security Instrument aze joint and individuaL If Grantor signs this Security Instrument but does not sign an - - � � - � �{�;
<br /> � evidence of debt,Grantor does so only to mortgage Grantor's interest in the Praperty to secure payment of the ��� .. _"':?:;�,`�
<br /> ' Secured Debt and Grantor does not a e to be ersonall liable oa the Secured DebL if this Security Instrument • '�'��`'- '.'_�:���
<br /> � P Y ',,���. : �=s�- - --
<br /> secures a guaranty between Lender and Grantor.Grantor agrees to waive any rights that may prevent Lender from ; .r�:.' . .`i:�,,_�y.�y -,
<br /> bringing any action or clairii against Grantor or any party indebted under the obligation.These rights may include,but ;,:_:, - '--'��'
<br /> are not limited to,any antidef�ciency or one-action laws.Grantor agrees that Lender and any parry to this Security '•;'E�" ;?--�_.
<br /> ` Instnunent may extend,modify or make any change in the terms of this Security Instrument or any evidence of debt `".'". ;-•�-_° � _
<br /> � without Grantars consent.Such a change will not release Grantor from the terms of this Security Instrument.The � � z�`"�T�'`�-_--
<br /> duties and bene5ts of this Security Instrument shall bind and benefit the successors and assigns of Grantor and Lender. ` �.
<br /> 13. APPLICABLE LAW;SEYERABILi1'Y;IIVTERPRE'�A1TON.This Security Instrument is govemed by the laws of - _ __ _ -
<br /> � the jurisdidion in which Lender is located,except to the extent otherwise required by the laws of tlte juriscliction ,„k,-°�- __
<br /> where the Property is located.This Security Instniment is complete and fully integrated.This Se..^urity Instrument may �r� r.��'�,'�, ��_
<br /> not be amended or modified by oral agreement. My section in this Securiiy Instrument,attachments,or any . � �-�E-
<br /> agreement related to the Secured Debt that conflicts with applicable law�vill not be effective,unless that law expressly - T;." �
<br /> or impliediy permits the variations by written agreement.If any section of this Security Instrument cannot be enforced • '
<br /> , � according to its terms,that section will be severed and;uill not affect the enfarceability of the remainder of this _r, �
<br /> � Security InstrumenL Whenever used,the singular siiaq include the plural and the plural the singulaz.The captions and _ �``�'' '
<br /> . .:._,
<br /> headings of the sections of this Security Instrament are for convemence a�1 and are not to be used t� "snterpret or -;,_� ,.,;��
<br /> define the terms of this Security Instrument.Time is of the essence in this Security Instrumen� -- i '
<br /> 1A. SUCCES50R TRUSTE�.Lender, at I.ender'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 " :`.'�
<br />' � conveyance of the Properry,shall succeed to all the title,power and dutics conferred upon Trustee by this Security '`� ' •
<br /> ' Instrnment and applicable law. ",r
<br /> _ _ .,;�•.
<br /> � ?S. NOTICE.tlnless otherwise re uired b law,an notice shall be ven b d�liverin it or b mailin rt b first class '•'• j
<br /> 9 Y Y � Y S Y g Y ,.• "'°�;� �
<br /> �. mail to the appropriate parry's address on page 1 of this Security Instrument,or to any other address designated in �' • ;,,�; _
<br /> • writing.Notice to one grantor will be deemed to be notice to all grantors. �
<br />_ • �� 26 WAIVERS.Except to the extent prohibited by law,Grantor waives all appraisement and homestead exemption righ4s
<br /> relating to the Propem. ,. , r�
<br /> ..�.: :.
<br /> � 27. (YI'HER TERMS.If chacked,the following are applicable to this Security Ins3rumen� '•�"•�'��-_-
<br /> X� Lrse of CredI�The Secured Debi includes a revolving line of credit�rovision. Although the Sscured Debt �'��•
<br /> ' may be reduced to a zero balance,this Security lnstwnes�t will remain in effect unW released. ��`""{'��'�'�-
<br /> ❑ Coastrnctfon Loan.This Seeurity Instrument secures an obligation incurred for the construction of an -.°-- _-_�"
<br />. � improvement on the Property. �°�'��
<br /> ,_
<br /> • ❑ Fh�ture Flling.Grantor grants to Lender a security interest in all goods that Grantor owns now or in the ---
<br /> ' future and that are or w�l become fixtures related to the Property.7'his Securiry Instrument suf8ces as a - - '
<br /> � financing statement and any carbon,photographic or other reproduction may be filed of record for purposes '-� ��; °`-
<br /> • of Article 9 of ttie Unifonm Commercial Code. ''r���'.
<br /> �... " '..
<br /> ❑ Riders.The covenants and agreeraents of each of the riders checked below are incorporated into and
<br />� ., supptement and amend the terms of this Security Inswment.[Check all applicable boxes] ��-_=�3--°--- '-
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<br /> • � ❑Condominium Rider ❑Planned Unit Development Rider ❑Other '�
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<br /> �• � ❑ AddttioaalTerms. �_����:
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<br /> SIGNATURES:By sig�ing below,Grautor agrees to the terms and covenants contained in th-'s Security Instrument and in ._,,.:._>,.,,,.,,}..:,�.
<br /> � any attachments.Grantor also acknowledges receipt af a copy of this Security in�trument on the date stated on page 1. �.�.�•-; -•,--�°
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<br /> (Si�ature� KEVIN E PEAIZSON tnate� (signat ) SONJA J PEARSON (�ate) �
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<br /> .` ACI�IOW�,EDGMENTHEBRASKA HALL � .� -�j•
<br />' STATE OF..............................................................CO1�T OF................... )ss. . .. ; � , :�`
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<br /> � � ERALk01AAY•ShteofHeDnsMa fNotaryPuDhc) . �
<br /> � HATHIEEN A.SCHUICNTER
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