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. „� 20120569� ar 19. INSURANCE. TrusWr shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the periods that Beneficiary requires. What Beneficiary requires pursuant to the preceding two sentences can change during the term of the Secured Debt. The insurance carrier providing the insurance shall be chosen by Trustor subje,ct to Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to the terms of this Security Instrument. All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and, where applicable, "loss payee clause." Trustor shall immediately nodfy Beneficiary of cancellation or terminadon of the insurance. Beneficiazy shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall immediately give to Beneficiary all receipts of paid premiums and renewal nodces. Upon loss, Trustor shall give immediate nodce to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by Trustor. Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoradon or repair of the Property or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the Grantor. If the Property 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 Beneficiary to the extent of the Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND IN5URANCE. Unless otherwise provided in a separate agreement, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional documents or certificadons that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary's lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNER5; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Insttvment are joint and individual. If Trustor signs this Security Instrument 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 Truswr does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Trustor or any party indebted under the obligadon. These rights may include, but aze not limited to, any anti-deficiency or one-action laws. Trustor agrees that Beneficiary and any party to this Security Tnstrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Trustor's consent. Such a change will not release Trustor from the terms of this Security Instrument. The duties and benefits of tlus Security Instrument shall bind and benefit the successors and assigns of Trustor and Beneficiary. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is govemed by the laws 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 Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any secdon in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any secdon of this Security Instrument cannot be enforced accor ;� its terms, that secdon will be r "� -- `�"`�"�� Instrument. Whenever used, severed and will not affect the enforceabil ;; �;�,-�t e, rez��nd�r,�;�tlf�s a�eecur�ty the singulaz shall include the plural and th plurt�t �� s��. The c�i�ionsG and headings of the sections of this Security Instrument aze for convenienc o�i� a�c}"�re;��i�s�i��-LQ or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of the Property, shall succeed to all the dde, power and duties conferred upon Trustee by ttus Security Instrument and applicable law. 25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all trustors. Trustor and Beneficiary hereby request a copy of any notice of default, and a copy of any notice of sale thereunder, be mailed to each pariy at the address for such pazty set forth on page 1 of this Security Instrument. 26. WAIVERS. Except to the extent prolubited by law, Trustor waives all appraisement and homestead exemption rights relating to the Property. Sacuritylnstrumant-Conaumar-NE RE-DT-NE 7/1/2011 VMP�BankarsSystams'�� VMP-C185(NE) (11071.00 Wolters Kluwer Flnancial Servicea �01994, 2011 Page 6 of 8