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��1 5�7�47 All insurance pvli�ies and ren�vvals shall be ac�eptable�o Beneficiary and shali include a standard"mortgage clause" and, where appli�ahle, "lo5s payee clause." Trustar shall imrnediate��notify Beneficzary vf �ancellation or terrninatian of the insuran�e.Beneficiary�hall ha�e the right t�hold the polieies and renewals.If Senefi�iary requires,Trustar shall immQdiately g��e ta Beneficiary ail receipts vf paid prerniums and r�newal nati�es.Upon loss,Trustor shali gi�e immediate notice to the insuranee carrier and Benefieiary. Benefieiary may make proaf of loss if nat made immediately by Trust�r. Unless atherwise agreed in writing,a!!insurance proceeds shall be appl�ed to the restoratifln or repair of the Property or to the Se�ured Debt,whether vr not then due,at Benef�c�ary's option.Any appli�a�ivn of proceeds to principal�hali not extend or postpone the due date of the scheduled payment nar change the amount of any payment.Any ex�ess wiii be paid ta the Grantar.If the Property is a�quired b�Benefi�iary, Trustor's right to any insurance pol'r�ies and praceeds resulting frvm darnage ta the Praperty before the a�quisitian shall pass ta Beneficiary ta the extent of the 5ecured❑ebt imrnediately before the . a�quisition. Z0. ESCR�W F�R TAxES AND tNSURANCE.Unless othe�wise pro�ided in a separatQ agreement,Trustar wilf nvt be required to pay to Beneficiary funds for taxQs and insurance in es�raw. �"!. FINI4NCIAL REP�RTS AND AD�ITI�NAL DDCUMENTS.Trustvr will pro�id�tv Benefi�iary upon request,any financial statement or informati�n Benef ciary may deem rea�vnably nece5sary,Trustor agrees to si�n,defiver,and file any addit�vnal documents or Certifica�ians that Bene�i�iary may consider necessary ta per�e�t,cont�nue,and preserve Grantar's ob�igations under this Se�urity�nstrument and BenefiCiary's fien statu5 on the Property. ZZ. J�1NT AND INDIVIDUAL LfABILITY;C�-SIGNERS;SU�CESS�RS aND A551GNS B�UND.All duties unde�this Security lnstrument are joint and individual,If Trustor signs thi�Security In�trument but does not sign an e�idence of debt,Tru�tor daes so�n1y to rnartgage Trustar's interest in the Prop�rty�a se�ure payrnent af the 5ecured Debt and Trustor does not agree to be persanally liable an the 5ecured Debt.If this Se�urity Instrument secures a guaranty hetwQen Beneficiary and Trustor,Trustar agrees tv wai�e any rights that may pre�ent Beneficiary fram bringing any action or clairn against Trustar or any party indebted under the vbligation.These rights may include,but are not limited to,any anti-defieteney or one-a�tton law5. Trustar agree5 that Beneficiary and any par�y ta this 5ecurity Instrument rnay extend,modity�r make any �hange in the terrns of thFs Se�urity InStrument❑r any e�idence of debt without Trustar's consent.Such a change will not reiease Trustar from the terms of this 5ecurity Instrument.The duties and benefits of thi� 5ecurity Instrument shaE!�ind and benefit the successars and assigns of Trustvr and Beneficiai. 23. APPLICABLE La1N;SEVERASfLITY;�NTERPRETATt�N,This Se�uri�y Instrument is gv�erned by the law5 of the jurisdiction in which Benefi�iary is�a�ated,except ta the extent otherwise required by the law5 of the jurisdiction where the Prvperty is located.This 5ecurity Instrument is camplete and fully integrated.This Security Instrument may nat be amended or mod�fied by❑ral agreement.Any seCtion in this Se�urity In�trument,atta�hments,or any agreement relat�d to the Secured ae�t that conflicts with appliCable law will nat be efFective,unless that law expressly or imp�iedly permits the�ariatians by written agreernent. 1f any se�tion of this 5e�urit�lnstrument�annot be enforced ae�ording ta its terms,that se�tion wiff be �e�ered and will not affect the enforceability af the r�rnainder vf this Security Instrument.Vllhenever used, the singular shal�in�lude the plural and the plural the singular.The captions and headings of the sections of this Security In�trument are for tanvenien�e�nly and are nat to be used to interpret ar define the terms of this 5e�urity Instrument.Time is of the es5ence in this Security�nstrument. �4. SUCCESSQR TRUSTEE. Beneficiary,at Benefi�iary's optian,rnay from time ta time rernove Trustee and appoint a su��essor trustee without any other formality than the designation in writing.The su��essar trustee, with�ut canveyance of the Property,shalf succeed to all the title,power and duties canferred up�n Trustee by this Security�ns�rurnent and applicable iaw. �5. N�TICE.Unless otherwise requi�ed by law,any noti�e shall be given by deli�ering it or by rnailing it by first�lass mail to the appropr�ate party's addres�❑n page 1 of this 5erurity fnstrument,�r to any other address designated in writing.N�ti�e to one trustar will be deemed to be nvtice ta all trustors,Trustor and Benefi�iary hereby request a Copy of any notice of default,and a copy of any nati�e of sal�thereunder,be mailed to each party at the addres�for such party set farth on page 1 af this Se�urity Instrument, {pergQ 6 of 7} _1994 Wolters fCiuwer Financial Service�-Bankers 5ystems * Form L156-RE�T-NE 1'1!'I fi12�1 Z