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��15�3544 Aii insurance policies and renewa�s shall be ac�eptable to Benef��iary and shall�ncfude a standard"mortgage claus�" and, where applicable, "loss payee clause." Trustor sha11 immediately notify Beneficiary of �an�ellation or termination of the insuran�e.Bene�iciary�ha11 ha�e th�right to hvld the policies and renewals.�f Beneficiary requires,Trustor sha11 immedia�ely gi�e t❑Beneficiary all receipts of paid premiums and renewal notices.lJpon 1oss,Trustor shali give immediate notice to the insurance carrier and Beneficiary. genefi�iary may make prvvf af loss if not made immed'+ately by Trustor. Unless atherwise agreed in writing,al�insuran�e pro�eeds shail be applied t❑the restvration or repair o�the Praperty or to the Secured[]ebt,whether or nvt then due,at Benefi�iary'�optivn.Any application of proceeds to principai shal!nat extend or postpone the due date of the s�heduled payment nar�hange the amaunt vf any payment.Any ex�ess will be paid to the Grantor.If the Property is acquired by Benef�t�ary, Trustor's rightto any insurance p�iieies and pro�eeds resultingfrom damagetothe Praperty beforethe acquisitian�ha!!pass to Benefi�iary to the extent of the 5ecured Debt immediately before the aequisition. 24. ESCR4IN F�R TAXES AND INSLJRANCE.Unle$s otherwise pro�ided in a separate agreement,T�ustvr wi11 not be required tv pay ta Beneficiary funds for taxes and insuran�e in escrvw. Z'I. FINANCIAL REP�RTS AND ADDITI�NAL D��UNIENTS.Trustor will pro�ide to Benef�ciary upvn request,any finan�ial statement or informat+vn Beneficiary may deem reasanably neCessary.Trustor agreQs ta sign,del+�er,and file any additianal d�euments or�ertif�cations that Beneficiary may cans�der necessary to �erfeet,�antinue,and preserve Grantar's obligations under this Security lnstrument and Beneficiary`s lien status on the Praperty. �Z. JDINT AND fND1V1DUAL LIABIL�TY;C�-S��NERS;SUCCESS�RS AND A551GN5 B�UND.All duties underthis 5ecurity In�trumentare�ointand indi�idual.IfTrustorsignsthis Seeurity instrument but does not sign an e�idence of debt,Trustor does so only to mortgage Trustor's�nt�rest En the Property to secure payment of the Secured Debt and Trustor d�es not agree to be persanally liable an the S�cured Debt.lf this Se�urity Instrument secures a guaranty between Benefieiary and Trustor,Trustor agrees to wa��e any ri ht�that may pre�ent Benefi�iary from bringing any action or claim against Trustor vr any party indebted 9 under the obligation.These rights may include,but are not limited tv,any anti-dQficiency�r one-aet�on laws. Tru$tor agrees that Benefieiary and any party to this Se�urrty Instrument may extend,madify or make any change in the terms of this 5e�urity Instrument or any e��den�e of debt withaut Trustor's cvnsent.Such a change will not release Trustor from the terms af this 5e�urity Instrument.The duti�s and benefits of th�s 5eeurity Instrument shall�ind and benefitthe successars and assigns vfTrustv�and 8eneficiai. �3. APPLICASLE LAW;SEVERABILITY;INTERPRETATI�N.This Security lnstrument is go�erned by the laws of the}urisdi�tion in which Beneficiary is located,ex�ept tv the extent otherwise required by the laws v�the jurisdictian where the Property is lacated.This Se�urity Instrument+s complete and fully inte rated.Th+s Se�urity Instrument may nvt be amended or modified by oral agreement.Any section�n this 9 SQ�urit Instrument,attachments,ar any agreement related to the Se�ured Debt that Conflict�with appl«able Y !aw will not be effecti�e,unle5s that law expressly vr impliedly permits the�ariati�ns by written agreement. If any 5e�tion of this Security�ns�rument cannat be enfarced accvrd�ng to its terms,that se�tion wil!be severed and wiil not affeCt the enfar�eabiiity ofthe remainder af this Security Instrurnent.Whene�er usQd, the singular shall include the piu�a�and the plural the singular.The�apti�ns and headings af the se�tions of this S�curity instrument are for con�en�ence only and are not to b�used to interpret or def�ne the terms of th�s Security�nstrument.Time is af the essen�e in this Security lnstrument. �4. SUCCESS�R TRUSTEE. Benefi��ary,at BenQficiary'�optian,may from time to time remvve Trustee and appoint a successor trustee withvut any vther formality than the designation in writing.The su��essar trustee, without�an�eyance af the Property,shall su��eed to all the t+tle,power and duties conferred upon Trustee by this Security Instrument and appli�able law. 25. N�TICE.Unless otherwise required�y law,any noti�e shall be gi�en by deli�ering it or by mailing i�by first c�ass maii to the apprapriate party's addres�on page� of this Security Instrument,or to any vther address designated in writing.Notice tv one trustar will be deemed to�e notice to all trustors.Trustor and Benefi�iary hereby request a�opyof any noti�e�fdefault,and a�opy of any notice of salethereunder,be mail�d to eaCh party at the address for such party set forth on page 1 vf this Se�ur�ty Instrument. (page 6 of 7} 1494 Wolters K�uwer Finan�ial Servi�es-Bankers Systems * Form tJSB-RE�T-NE�11161��2