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<br /> 9 9 1 1 0� 4 ( Application # 0109103176 �
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<br /> Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the
<br /> Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or
<br /> postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the
<br /> Grantor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from
<br /> damage to the Properry before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before
<br /> the acquisition.
<br /> 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br /> required to pay to Beneficiary funds for taxes and insurance in escrow.
<br /> 21. FINANCIAL REPORTS AND ADDITIONAL DOCIJMENTS. Trustor will provide to Beneficiary upon request, any
<br /> financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any
<br /> additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's
<br /> obligations under this Security Instrument and Beneficiary's lien status on the Property.
<br /> 22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this
<br /> Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of debt,
<br /> Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not
<br /> agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and
<br /> Trustor,Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Trustor or
<br /> any part�� indebted under the obligation. These rights may include, but are not limited to, any anti-deficiency �r one-action
<br /> laws.Trustor agrees that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the
<br /> terms of this Security Instrument or any evidence of debt without Trustor's consent. Such a change will not release Trustor
<br /> from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the
<br /> successors and assigns of Trustor and Beneficial.
<br /> 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Securiry Instrument is governed by the laws of the
<br /> jurisdiction in which Beneficiary is located, except to the extent otherwise re quired by the laws of the jurisdiction where the
<br /> Property is located. This Security Instrument is complete and fully integrated. 'I'his Security Instrument may not be amended or
<br /> modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured
<br /> Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by
<br /> written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be
<br /> severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall
<br /> include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for
<br /> convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in
<br /> this Security Instrument.
<br /> 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a
<br /> successor trustee without any other formality than the designation in wrinng. The successor trustee,without conveyance of the
<br /> Properry, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and applicable law.
<br /> 25. NOTICE. Unless otherwise required by law,any notice shall be given by delivering it or by mailing it by first class mail to the
<br /> appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one
<br /> trustor will be deemed to be notice to all trustors.
<br /> 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights relating
<br /> to the Property.
<br /> 27. OTHER TERMS. If checked, the following are applicable to this Security Instrument:
<br /> �i Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be
<br /> reduced to a zero balance, this Security Instrument will remain in effect until released.
<br /> �Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement
<br /> on the Property.
<br /> �Fixture Filing.Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future and
<br /> that are or will become fixtures related to the Property. This Security Instrument suffices as a financing statement and
<br /> any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform
<br /> Commercial Code.
<br /> �Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and
<br /> amend the terms of this Security Instrument. [Check all applicable boxes]
<br /> 0 Condominium Rider 0 Planned Unit Development Rider 0 Other
<br /> .....................................
<br /> Additional Terms.
<br /> SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Securiry Instrument and in any
<br /> attachments. Trustor also acknowledges receipt of a copy of this Securiry Instrument on the date stated on page 1.
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<br /> � ........�.��'�'� ..�%7/�G��Z./../��/%.�G� `��� �%.-�� ... � �� /�;% �l'
<br /> RICHARD B VEN �
<br /> .. . �
<br /> (Signature) ;
<br /> ate) (Si ature) ILYN B VEN ate)
<br /> ACKNOWLEDGMENT: �,, �J�
<br /> STATE OF .......�I.l���.!`.UI,�Wr!V................. . COUNTY OF ........N L'��,.1�............. . . ............ }ss.
<br /> �i�a��+a�ao �s instrument was acknowled ed before ' ��! day of �(�,�`� i ��}�(� .
<br /> ..
<br /> bY ..1zzCH�D..s. ..... . �t��Ib6i�Bt(2 ............. ...........�'................................... �
<br /> My commission ex res: g� CATRINA M.SHUbA ,
<br /> My C,omm.Exp.Aug.10,2003 �{ �,���f; � . �A /'�%, -
<br /> 11�� �'ll........ '-�V�wlU�il/l./.............
<br /> (Notary Public)
<br /> c� 1994 Bankers Systems,Inc.,St.Cloud,MN(L800-397-2341) Form RE-DT-NE 10/27/47 �age 4�f4�
<br /> ��C16$(1�') (9808)
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