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200411184 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the Cantor. If the Property 1s acquired by Beneficiary, Trustor's right to any insurance ohmes and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent o[Pthe Seemed Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, 'Truster will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 21, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Truster will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. I rustor agrees to sign, deliver, and file any additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary s lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILM; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Truster signs this Security Instrument but does not sign an evidence of debt, Truster does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not a g e" [o be personally liable on the Secured Debt. If this Security instrurnert secures a guarurty betwoeo Beneficiary and Trosstoq Truster agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Tmstor or any par ty indebted under the oh i,,anon. These rights may include, but are not lintited to, any an n- deficiency or one - acton laws. Truster agrces that Beneficiary and any party to this Secmity Instrument may extentl, modify or make any change m the terms of this Security Instrument or any evidence of debt without Trustor's consent. Such a change will no[ release Trustor from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Truster and Beneficial. 23. APPLICABLE LAW; SEVERABILITY• INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If an section of this Secm nn ity Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security iwmunent are for convenience only and are not to be used on interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without an other formality than the desiggnnation in writing. The successor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and applicable law. 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 appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one truster will be deemed to be notice to all trusters. 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER 'TERMS. If checked, the following are applicable to this Security Instrument ] Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. L_ Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. Fixture Filing. Truster grants to Beneficiary a security interest in all goods that Grantor owns now or in the future and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxesl = Condominium Rider = Planned Unit Development Rider I] Other Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any attachments Tru for also a owledges receipt of a copy of this Security Instrument on the date stated on page I. s. /., .�Le�L °'�l Nov 12.2004 _ __.____ __________ __ ___NOV 72.2404____ gnat I Karen Kay Anderson \ (Dare) (signature) (Date) Nov 12, 2004 _____ _..___ ___.__Nov 12,2004__.._ (signxiure) (Data) (Signature) (Date) ACKNOWLEDGEMENT: (Indlvidual) STATE OF z CL COUNTY p � Cl cp This trument wa to W d0 d tatters me this i s tl y of / 1 uy me 't c My commission aaevw jftattkbras, p11F1iLbo CHE7 —121.20ga (Notary Public) ■161�aB0.11K O urea s w.. sy.mm.�, m.:., sr 1..a, Mu r, aE oT NE IIHIH.s (page 4 of 4) - C165(NE) �oaui N