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2� 15�7525 AI�insurance policies and renewals shall be acc�ptable to Benefi�iary and shal�in�lude a standard"mortgage �clause" and, where applicahle, "loss payee c�ause." Trustor shal�immediately nntify Beneficiary of �ancellation or termEnatian of the insurance.Beneficiary shall ha�e the right to hald the palicies and renewals.If Beneficiary requires,Trustar shall immediately gi�e to Beneficiary all receFpts of paid premiums and renewal notices.Upon ivss,Trustor shall gi�e immediate notice tv the insurance carrie�and Benef�ciary. Beneficiary may make proof of loss�f nat made immediately by Trustor. Unless otherwise agreed in writing,a�l insurance proceeds shall be appli�d to the restvratton or repair af the Prvperty or to�he Secured Debt,whether vr nat then due,at Benefi�iar}r's aptEan.Any app�icativn af proceedsto principal shall nat extend or postpvnethedue datevfthe s�heduled payrnent norchangethe amount vf any payment.Any excess wi�l be paid to the Grantor.Ifthe Property is acquired by Beneficiary, Trustor's right to any insurance palicies and proceeds resulting from damage to the Property before the aequ'rsitian shall passto Benefi�iarytathe ex�ent afthe Secured Debt immediately beforethe aequisitivn. 2�. ESCR�W FDR TAXES AND INSURANCE.Unless otherwise pro�ided in a separate agreement,Trustor will not be required to pay to Beneficiary funds far taxes and insuran�e in e��row. Z1. FINANCIAL REP�RTS AND ADDITI�NAL D�CUMENTS.Trustor will provFde to Beneficiary upon request,any financ'ral statement or infvrmation Beneficiary may deem reasona�ly necessary.Trustor agrees to sign,deli�er,and file any additianal dvcuments�r�ertifications that Beneficiary may consider necessary�o perfect,continue,and preserve Grantor`s ob��gations under this Security lnstrument and Beneficiary's lien status on the Praperty. 2�, J�zNT AND 1NDIViDUAL LIAB#LITY;C�-SIGNERS;SUCCESS�RS AND ASSlGNS 6�UND.All duties unde�this S��urity Instrumentare j�intand�ndi�idual.IfTrustorsignsthis Security Instrument but does not sign an e�iden�e af debt,Tru�tor dves�o only to mortgag�Trustor's interest in the Property tfl seeure payment of the 5ecured Debt and Tru�tor does not agree tv be personally liable on the 5ecured Debt.If this Security Instrument secures a guaranty between Benefi�iary and Trustor,Trustvr agrees to wai�e any rights that may pre�ent Beneficiary fr�m bringing any a�tion or clairn against Trustor or any par�y indebted under the obligation.These rights may in�lude,but are not limited tv,any anti-deficiency or vne-action iaws. Trusto�agrees that Beneficiary and any party tv this Se�urity Instrument may extend,modify or make any change in the terms of this Se�uri�y lnstrument or any evidence of debt without Trustor's�onsent.Sueh a change will not release Trustor frorn the terms of this Security fnstrument.The duties and benefEts of this Security In�trument shall bind and benefitthe successors and assigns ofTrustorand Beneficial. 23. APPLICABLE LAW;SEVERABILITY;INTERPRETAT[�N.This Security Instrument is�a�erned by the�aws af the jurisdiction�n whi�h Beneficiary is located,except ta the extent otherwise required by the laws vf�he jurisdi�tion where the Property is Iocated.This 5ecurity Instrumen��s comp�ete and fully integrated.This Security Instrument may nat be amended❑r madified byoral agreernent.Anysection in this Secur�ty Instrument,attachments,or any agreement related to the Se�ured❑ebt that canfli�ts with appli�able law will not be effective,unless that�aw express�y or implied�y permits the�ar'rations by written agreement. If any se�tion of th�s Security Instrument cannot be enfor�ed according tfl its terms,that se�tion will be se�ered and wili n�t affe�t the enforceability ofthe�emainder of this Security In�trument.Whene�er used, the singu�ar shaf f inClude the plural and th�plural the singu�ar.The eaptians and headings of the�e�tions of thi5 Se�urity Instrument are for�on�enienee vnly and are nat�o be used tv interpret ar def�ne the terms af this Security lnstrurnent.Time is of the essen�e in this Security Instrument. Z4, SUCCESS�R TRUSTEE. Beneficiary,at Beneficiary'�optian,may from time to time remove Trustee and appoint a su��essor trustee withaut any other formality than the designat�on in writing.The su�cessor trustee, withvutcon�eyance ofthe Pr�perty,shall succeedtoall thetitle,powerand duties canferred uponTrustee by th�s 5e�urity fnstrument and appli�able�aw. 25. N�TICE.Unfess otherwise required by law,any notice�hall be gi�en by delive��ng it or by mailing it by first elass mail to the appropriate party's address on pa�e 1 ofthis Security[nstrument,or to any other address designated in writing.Notice to one trustor will be deemed to be nvtice to all trustors.Trustor and Beneficiary hereby request a�opy of any no�ice of default,and a c�py of any nati�e of sale thereunder,be mailed ta ea�h party at the address fvr such party set fvrth on page� af this Se�urity Instrument. (page 6 of 7 _1994 Walters ICluwer Finan�ial Servires-Bankers Systems * Form USB-REOT-NE'I 1 Jl fi1�Q1� '