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<br /> Unless otherwise agreed in writing,all insurance pr�ceeds shai;be applied to the restoration or repair of the Froperty or ro
<br /> the Secured Debt, whether or not then due, at Beneficiary's �ption. Any agpiication of proceeds to principal srall t�ot
<br /> extend or postpone the due date of the scheduled paymen�n�r change the amount of an�payment. Any ex:.ess wiil.he�:ud �
<br /> to the Grantor. If the Property is acquired by Bene cfi iary, Trustor's n'ttht to any insurancepo l�cies and pre�c�ds rcyvitins
<br /> from damage to tl�e Property before the acquisition shal!pass ro Beneficiary to the eztent of the 5ecured Debt ir.uneaiat��ly
<br /> before the acquisition.
<br /> 20. ESCROW FOR TAX�S AMII IINSLTILANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br /> required to pay to Beneficiary funds for tazes and i;�surar,ce in escrow.
<br /> 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMF,NTS. �'rustor will provide to Beneficiary upon requcst, any
<br /> Financial staternent or information Benefici2ry may deem reasouably necessary.Trus!or agrees to si�n, deliver, and file any
<br /> addicional docuu�nts or c;ertifications that Beneficiary ma�consider necessary to perfect, continue, and preserve Grantor's
<br /> obligatioc�s under tbis Security Instniment and Beneficiary s Iien status an t?ae Property.
<br /> 22. JOINT AND INUIVIDUAI,LIABII.ITY; CO�GNERS; SL'CCESSORS A1VI} ;4SSIGIWS BOUND. Ail d�lties under
<br /> this Security Instrument are joint and individual. If Ttustor signs this Security Instniment but does not sign ati evidence of ',
<br /> debt, Trustor does so only to mortgage Trustor'e interest i� the Property to secure payment of the Secuccydt Dr.bt and � -
<br /> Trastar does not agree to be personaily liable on ih�Secured Debt. If this Security Instrument se�cures a guara�t�y between
<br /> F3ene�"ieiary and Trustor,Trusior agr�es to w�.ive any rights that may Frevent Beneticiar� frocn bringing any action�r ciaim
<br /> against Tn!stor or any �arty indeb;ed under the obligation. 'I�esP righ;s may inc�ude, but are not l�mitd to, any
<br /> anu-deficier.cy or one-acuon taws. Ttustor agrees thai Senc:ficiary and any party to ihis Security Instnunent ma}� eztend,
<br /> modify or znak� any change in the terns of this Securi:y Instrument or any evtdence of debt without Tnistor's coasent.
<br /> Such a change will not release Trus�or from the terms of this Security Instrument. 'Ihe duties and benefits of this Security
<br /> �nstrument sh.11 bind and benefit the successora and a�signs of T:ustor and Beneficial,
<br /> 23. APPLICASI.E LAW; S�Y�RA,BILITY;IN'I'ERPRETr�TION. This Securiry Insttiment is govemed by the laws of the
<br /> jurisdi�;tior. r•r;which Benefic:arv is located, except to the eztent othetwise requ�red b�•+ the laws of t}►e jurisdiction where
<br /> the Property is located. This S�:curity Instrument zs compfete and fully integrated. 'I�is Security Instrument may not Ue
<br /> amended or�rociified by oral agreement. Any sr.ction in!his Security tnstrument, attachments, or any agre�ment related to
<br /> che Secured Debt that conflicts with applicable 1aw wiil not be effective, unless that law expressly or impliedly permits the
<br /> va�iations by written a�reemcx�t. If anv section of this Security Instrument cannot be er,forced according to its iecros, that
<br /> section will he severed and will not affect the�enforceability of the remainder of this Security Instrument. u,'henever used,
<br /> the singular sha11 include the plt�r�l and the plural the singular. The captions and headings of the sections o;this Security
<br /> Instrument nre for wr.venience c,niy and are not to be used to mterpret or define the terms of this Security Instrument.
<br /> Time is of the essence in this Security Instrnment.
<br /> 24. S�'CCESSOR TRUSI`FE. Eeneficiary, at Lic�nefrciary's option, may from time to time remove Trustee and appoint a
<br /> successar trustee wiihaut a�y o[her�'�rmatitl?:nan the de�ignation in wntrng. The succ°ssor t;rustee, without co�veyance af
<br /> the Property, shall succced to aIi t,�e title, ;power and duties conferred upoa Trustee by this Security lnstrument and
<br /> applicable law.
<br /> 25. NOTICE. Unless otherwise reqvirecl hy ta�+, any r�otice shall be given by delevering it or by mailing it by first class mail
<br /> tu the appropriate party's address on page 1 of chis Security Instrument, or to any other address designated in writing.
<br /> Notice to one trustor will be deemed to be notice to all tnistors.
<br /> 2G. VVATVERS. Except to the extent prohibited hy law, Tn�stor w�ives alt appraisement �nd homestead ecemption zights
<br /> relating to the Property.
<br /> 27. OTHER TERi�. If checkeci, the following are aFp�icable to this;Security Instrument:
<br /> i� Line of Creciit. The S�cured Debt includes a revoh°ing Iine of credit provisio�. Although the Secure� Debt may be
<br /> reduced to a zem balane.e,this Secwity.instrument wili ncn7ain in effect nntil released.
<br /> ❑ Cc�nstructiom Loan.This Se�urity Instrument srcures an oblibatiors inc�►rred for the construction of an improvement
<br /> on the Property.
<br /> ❑ Fixture F'iling. 'Trustor grants to Beneficiary a security interest ir,� �1!goods that Grantor owns now or in the future
<br /> and that are or will becanx fixtures related to the Property. Thas Security Instrument suffices as a financing
<br /> staterncnt and any carbon,photographic or other reproduetion may be filect of record for purposes of Article 9 of the
<br /> Uniform Commercial Ca�e.
<br /> ❑ itiders.The covenants ana agreements of each of the riders chr.xked helow are incorporated into and supplement a��d
<br /> amend the terms of this Se�lrity Instrumect. (Check a�l applia�ible boxes]
<br /> ❑ Condominium Rider ❑ Planned Unit Develooment Rid�7 ❑ Other.................................
<br /> . .................
<br /> AddYt6onaZ Terms.If a�y installment payment ir3 not paid by th�e due date, the bank
<br /> l����imtilrethe l�o�ar�i i�s i�i-i a�c�ntcstaus.�� rai.e on the autstarx3ir�g
<br /> SIGNATCJRES: By signing belo•,�, Trustor agrees to the terms and covenants contained in this Secutity Instnunent and in any
<br /> attachments.Trustor also ackuo�Nledges receipt of a copy of this Ser,; Instrur*tent on the da tated on page 1.
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<br /> (Signamrc hqj�Q, T. jg� te) (Signahirc) $. j \ le
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<br /> ACKNO3VL.EDGNdENT: -
<br /> STATE OF��.s.�................................. COUNTY OF FiPiI�+
<br /> ........................................:.:.........} ss.
<br /> ��'�`"6t�� This instrument was acknowleci ed before me thi�� ......���
<br /> .........day of..........�at?uazy...19��...............
<br /> by I".��.T:..��.�.�`'��..$.�.�"��r.I.�... . -
<br /> ... ....... ...��.. .�.......�........
<br /> My commission expires: �pte�mber 3, 20UQ � �
<br /> X........� 1.��.�:. .. ..:���l.!Z:� -- ._
<br /> ........>....,.............
<br /> Notuy Pubtk)
<br /> mt994 Bx�kan Systan�.Ine..St C�oud.MN 11-800-397-23411 Form qE.p7NE tOR7/8��� R• ���Y
<br /> page 4 0141
<br /> �ENERAI NOT�RP•Slatt o!Mebnsk� �• '`';� ��,�,
<br /> �� JOSEPH R.D08ROVOLNY
<br /> Mr Comm.Eip.SepL 3,YOpp !
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