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<br /> � Unless othenvise agreed in writing,all insurance proceeds shall be applied to the restaration or repair of thc Prnperty ... _ ' _.. __-
<br /> or to the Secured bebt,wh�ther or not then due,at Leader s opuon.Any application of proceedc to principal shall not • , ., _
<br /> � extend or postpane the due date of the scheduled payment nor change the araount of any payment./�ny excess will be :< :' � . _
<br /> paid to the Grantor. If We Property is acquired by Lender.Grantor's right to any insurance policies and proceeds _ �_ A_�.-
<br /> resulting from damage to the Property before the acquisition shall pass to Lender to the extent of the Secured Debt , , °Y,`:—;
<br /> immediately before the acqnisirion. ' ,���.
<br /> 1A. ES�ROW FOR TAXES�In It�1SURANCE.Unless othenvise provided in a separate agreement,Grantor will not . . •
<br />- be required to pay to Lender funds for taxes and insurance in escrow. � ' ' .` �
<br /> 2�, �IANC�pI,REppRi'S AND ADDIT[ONAL DOCIJR�EN'Y'S.Grantor will provide to Lender upon request,any
<br />� financial statement or information Lender may deem re�sanabty necessary Grantor agrees io s'sgn,dcliver,and file -- -.----.---- -.
<br /> any additional documents or certifications that Lender may consider necessary to perfect, continue,and preserve . . •
<br />, � C.rantoi s obligations under this Security Insirum�nt and Lender's lien status on the Property. � .. ,
<br /> Z2, 1pIl�1'I'pNp INDIVmUAL LIABIY.ITY;CO-SIGNEgtS;S�JCCESSOItS APID�iSSIGNS BOUND. All duties .- - �
<br /> under this Security instrument are joint and individual.If Grantor signs this Security Inscrumenc 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 ,..:,K;.; _
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<br /> Secured Debt and Grantor does not agree to be peisonally liable on the Secured Deb�If this Security Instrument , y � ��►�. `
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<br /> � secures a gnaranty tser�ween Leader and Grantor,Grantor agrees to waive any rights that may prevent Lender from �._�.,,� _
<br /> bringing any action or claim against Grantor or any party indebted under the obligation.These rights may include,but : .���•_ y •.:
<br /> ` are not limited to,any anti-de5ciency or one-action laws.Grantor agees that Lender and any party to this Secwity � ,.;:,,.;;_
<br /> Inshvment may extend,modify or make any change in the terms of this Security Insuument or any evidence of debt ��� +' �` ' �
<br /> without Grantor's consen�Such a change will not release Grantor fram the terms of this Secwity Instrument The �,` ;:•:;��•�°-
<br /> duties and bene5ts of this Security Instrument shall bind and benefit the successors and assigns of Grantor and Lender. , -
<br /> 23. APPLICABLE�AVY;SEVERABII.ITY;�I'fERI�'RE'I'�►TIU1V-This Securitl'Instrument is govemed by the laws of _ _. --
<br /> "'• the jurisdiction in which Lender is located,except to the extent oiherwise required by We laws of the jurisdiciion ��;�.°
<br /> _ __ where the Property is lacated This Security Instrument is comptete and fully integrated.This Security Instrument may _r4�.;��'--
<br /> � not be amended or modified by oral agreement. Any section in this Security Instrumen�attachments,or any :�,,,
<br />''�"���, agreement related to the Secured Debt that conflicts with applicable law will not be effective,unless that law expressly _: #_ �.T._
<br /> �.:� "-«
<br /> or impliedly pennits the variaiions by written agreement.If any section of this Security Instnsment cannot be enforced - -�.�•=
<br /> ' . according to iu tern�s,that section will be severed and wiA not affect the enforceability of the remainder of this '•'�- '°
<br /> _ Security Insuument.Whenever used,the singular shall include the plural and the plural the singular.The captions and � '�
<br /> � headings of the sections of this Security Instn�men[are for convenience only and are not to be used to interpret or ;,�,.
<br /> � . de5ne the terms of this Security Instrument.Time is of the essenve in this Security Instrument. -
<br /> ?A. SUCCESSOR TRUS'I'EE.Lender,at Lender's option.may from time to time remove Trustee and appoint a • :
<br /> , successor trustee without any other formality than the designation ia writing.The successor trustee,without � `��,•»�
<br /> __ conveyance of th�Property,shall succeed tv all the title,power an d duties con ferre d upon Trus tee b y t his Securi ty • , : ..,• ,,;,;
<br /> Instrument and applicable law. � ' , v y -
<br /> • 25. N017CE.Untess othenvise reqisired by law,any notice s�all be given by delivering it or by mailing it by fust class ' ' s:� "
<br /> ��Wfi•' y;t,_�
<br /> � mail to the appropriate party's address on page 1 o f t h i s Securi ty I n s w men t,o r t o a n y o t h e r a d d r e s s d e s i g c�a t e d i n ��:. •�
<br /> _ writing;Notice to one graetor will be deemed to be notice to all grantois. ``��'i.'
<br /> '_ 26. q+AIVERS.Escept to the extent prolubited by law,Grantor waive"s all appraisement and homestead exempUon rights � �;��_
<br /> relating to the.Property. '
<br /> Y/. OTHER TERMS.If checked,ths following are applicab(e to this Security Listrument: -,;�'��
<br /> � �ne of Credi�The Secured Debt includes a revolving line of credit provision.Although the Secured Debt ' __•=��<—
<br /> � may be reduced to a zero balance,this Security Instrument a+ill remain in effect until released.
<br /> . � ❑ Constrnc�oa Loan.This Security Instrument secures an obligation incurred for the construction of an . .. . _,._
<br /> �,. improvement on the Property. �`""'�'�"'��'
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<br /> ❑ �ixttire Fa7ing.Crantor�grants to Lander a security interest in all goods that Grantor owns now or in the r_�•.,__
<br /> � future and that are or�vil!becoms fixtures related to the Property.This Security Instrument suffices as a
<br /> financing statement a�sd any carbon,photogaphic or other reproduction may be filed of record for p•.�poses �'''�'��'`
<br /> of Article 9 of the Uniform Commercial Code. ������`�.��:.•�'-.
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<br /> � ❑ Ridere.The covenants and agreements of each of the riders checked below are incorporated into ancl _� _�° �°__----•�='`
<br /> supplement and amend the terms of this Security Insuument.[Check all applicable boxes] -u�uy�t��a::,:.
<br /> ❑Condominium Rider ❑Planned Unit Development Rider ❑Other.......................................................... — —
<br /> . ❑ AddiHonalTerms. � . �u;;:::
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<br /> � SIGNATURES:By signing below,Grantor agrees to the terms and covenants contained in this Secwity Instrument and in ��-'�+'°�-'�
<br /> any attachments.Grantor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. �:����`��
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<br /> ' //�.��1�.?.....�_....1.:"/.��;��f�.........03/06/97 .......... ..... ��."a.�1G��3�06/97 � ' . �~�' ,�
<br /> � • . ........... .. ... .. ..�� .... ... � ' .,.
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<br /> �S�gnatuce) q►I LL I AM F MUCHOW (oete) Signature gp''gAYN J MUCHOW (Datc) ��yr:+�
<br /> . .. ACKNOWLEDGMENT .. ' .
<br /> : NEBRASKA HALL � � ��
<br /> : 5TA'I'E OF................................................••-..........,COU�OF.......................E1'ARCH....................1.9.��ss. . •. •
<br /> ,��d,�a�, ed St,`�'o�$��5u�•�xn•�ree���ro•��8�ae�........................................................... .
<br /> • b'��I,�n�(��0�����.r:�......... �x _ .... ......................... ................................. : , . . '
<br /> . My commission expires: ..�lJ.. . .................................. • •
<br /> (scal) .................. �...� ... . ' '.
<br /> (Nutary Public)
<br /> �� GEHFRAlB01AAP•Sl�teoikebns�i
<br /> SCOTT C.KISSIER
<br /> Mr�+�+�.E�p.Wr 31.1998 � .
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