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Application 0 0121634521 200302759 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 dayment nor change the amount of any payment. Any excess will be paid to the Grantor. If the Property is acquired by BBeeneficiary, Trustor's right in any insurance policies and proux;ds resulting from damage to the Property before the acquisition shall pass to Beneficiary mile extent of the Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be required in pay in Beneficiary funds for taxes and insurance in escrow. 21, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Truster will provide in Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees in 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 LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Truster does so only in mortgage Truster's interest in the Proppeerty to secure payment of the Secured Debt and Tmsmr does not agree to be personally liable on the Secured Debt. If this $e only Instrument secures a guaranty between Beneficiary and Truster, Truster agrees to waive any rights that may prevent Benetciary from bringing any action or claim against Truster or any party indebted under the obligation. These rights may include, but are not limited to, any anti- deficiency or one- action laws. Truster agrees that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Truster's consent. Such a change will not release Trmtor 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 ] urisopdiction in which Beneficiary is located, except in the extent otherwise reqquired by the laws of the jurisdiction where the Prerty is located. This Security Instrument is complete and fully integrated. This Security Instrument ma not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related in the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or implhedly permits the variations by written agreement. If any section of this Security Instrument cannot he enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security histrument Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used in 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 any other formality than the designation in writing. The successor trustee, without conveyance of the Property, shall succeed in 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 mad to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice in one buster will be deemed in tic 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: Q Line of Credit. The Seemed 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. 0 Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Properly. 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 in 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. D Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terns of this Security Immanent. [Check all applicable boxes] = Condominium Rider = Planned Unit Development Rider = Other Q Additional Terms. SIGNATURES: By signing below, Truster agrees to the terms and covenants contained in this Security Instrument and in any attachments. Truster also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. f i W ... ......_..- .a :f.l...� Y _. (SignaN e) NN Y (Date) (S gnawrc) AOXANNE E ROWLE (Date) ACKNOWLEDGMENT: I�' STATE OF ..IVe1) 4uQ rt/4U ,COUNTY OF 1( (seed) This instrument was acknowledged before me this day . of p by DONNIE L ROWLEY and ROXAISNE E ROWLEY ' My commission expires �} / / /� a (' / EOOZ'Ot'gny'dx3'wwop Ary I't trvou.y wnn�) VOfIHS'W tlNIFi1H0 � ID tssaewserssymems, e . 19ktldAAl� ,1SodNYf8Na7ykdMifi�TNE MM? (page 4 of 4) ® ®CIMNE) tseml