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��15�5�55 . �.Trustor shall immediately notify Beneficiary if a r�lease ar threatened release vf a Hazard�us Substance�c�urs on, under or about the P�roperty or there is a �ivlation of any En�ironmental Law cancerning the Property. 1n su�h an e��nt. Trustor sha11 take all necessary rernedial acti�n in accordan�e with any En�irvnmenta� Law. D.Trustar shall immediately notify Beneficiary in writing as soon as Trustvr has reas�n to k�elie�e there is any pending or threatened inW�stigatian, clai�rn, ar prv�eeding reCating to the rel�ase �r threatened r�leas� of any Hazardous Sul�stance or the �ioiation of any En�irvnmental Law. 12. ESCRa�]L�FaR TA�ES AND I11T5URANCE. Unless atherwis� pra�ided in a separate agreement, Trustor wi�f nat be requir�d to pay to Benefi�iary funds far taxes and insurance in �scraw. 13. JaINT AND INDIV�DUAL LIABILITY; C�-SI�NERS; Si]C�ESS�RS AND AS5I�N5 B�UND. A!I duties under this SeCurity In�trurnent are jaint and indi�idual. lf Trust�r s�gns this Security instrum�nt but does not sign an evidence af de�t, Trustor does so❑nly to m�rtgag� Trustor's int�rest in the Property t� s��ure payrnent of the S��ured aebt and Trustar does n�t agree ta b� personally �iable vn th� Secured Debt. 1f this 5ecurity Instrurnent secures a guaranty �etw�en Beneficiary and Trustar, Trustar agrees t� waive any rights that may pre�ent Beneficiary frarn bringing any activn �r claim against Trustvr or any party indebted und�r the�bligati�n. These rights may incEud�, but ar� not limited t�, any anti-deficiency or one-a�tit�n laws. Th�duties and henefits vf this Se�urity Instrument shali k�ind and benefit the succ�ssors and assigns ❑f Trustvr and Beneficiary. 14. SEVERABILITY; INTERPRETATI�N. This Security lnstrument is complete and fully integrated. This Security Instrument may nat be amended or modrfied by oral agreern�nt, Any section �n this Se�urity lnstrument, attachments, ❑r any agreement related tv the S��ur�d aebt that conflicts with applicable law wi�� nat k�e eff�cti�e, unless that law expressly vr impiiedly perm�ts the�ariatians by written a�reement. If any section of this Security Instrument can�vt k�e enfarc�d a�carding to its terms, that section wili be se�ered and will not affect the �nf�rc�ak�ility of the remainder of this 5ecurity lnstrument. Whene�er used, the singuiar shall include the plural and the plural the singular. Th��apt�ons and headings of the sections of this Se�urity Instrument are fvr con�eni�nce Qnly and are not to be used tv interpret or d�fine the terms af this 5ecurity Instrument. Time is �f the essence i n th is Se�u rity I nstru ment. 15. SU�CESS�R TR[]STEE. Beneficiary, at BeneficEary's aption, may frorn time tv t�rne r�mv�e Trustee and appoint a suc�essor trustee withaut any other forrna�ity than the designation in writing. The SUCC�55p1"trUSt��, withaut can�eyanc� of the Property, shall su�ceed tv alf the title, power and duties conferr�d upon Trustee hy this Security lnstrument and applicable law. lfi. N�TYCE. LJnless oth�rwrse required k�y law, any notic�shall be gi�en by deli�ering it or by mail�ng it by first�lass mail ta th� apprapriate party's address on page 1 of this Security �nstrument, or to any other address designated in writ�ng. Notice to ane trustar will be deemed to be nati�e to afl trust�rs. Trustvr and Benefi�iary hereby request a �vpy af any n�tic� of default, and a copy vf any notice of sale thereund�r, k�e rnail�d to�ach party at th�address far such party set f�rth vn page 'I of this 5ecur�ty Instrument. 17. VL�AIVERS. Except to the extent prvhibited hy law, Trustor wai�es alE appraisement and hamestead exemption rights relating to the Property. 1S. LINE�F CREDIT. The Se�ur�d D�bt includes a re�vl�ing fEne af-credit. Although the Secu�ed Debt may be reduced tv a z�ro kaafan�e, this Security lnstrument w�1i remain in effect unti! reieas�d. 19. APPLICABLE LAW. This 5ecur�ty �nst�ument is gv�erned by the �aws as agr�ed tv in the Secured Det�t, except tv the extent r�quired by the laws of the jurisdict�on where the PrQperty is located, and appli�able federal laws and regulations. 20. RIDERS. The cv�enants and agreernents af each t�f the riders checked below are incorporated int� and supplement and am�nd the terms of this Se�urity instrument. [Check a1! appli�able bvxes] � Assi n rnent af Lea ses and � �ther .,.....................,........................,.....,.................... 9 Rents 21. � C�NSTRU�TI�N LaAIV. This Secur�ty Instrum�nt is a �onstruction s��urity int�rest i►vhich secures an ot�ligativn incurred fa�the constru�ti�n vf an imprv�ement on the Prv�erty. ,� �� {page 6 of 7} _1994 Wolters K�uwer financial Ser�ices-Bar►kers Systems Farm U56DCP-�T-NE 711�fi1��12