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200303400 Application # 0121659767 Unless otherwise agreed in writing, all insurance roceeds shall be applied m the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Benetiary'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 Grantor. If the Property is acquired by Beneficiary, Toaster's right to an insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Truster will not be required an pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Toaster 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 LIABILITY; 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, Trustor does so only to mortgage Trustful interest in the Progeny to secure payment of the Secured Debt and Trastor does not agree m be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trastor, Trastor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Truster or any party indebted under the obligation. These rights may include, but are not burned 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 Tmsmr's consent. Such a change will not 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 Trustor and Beneficial. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the )urisdic[ion m wNch Beneficiary is located, except m the extent otherwise reyuned by the laws of the jurisdiction where the Property is located. This Security Instmment E coin lete and fully integrated. This Security Instmment may not be amended or modified by oral agreement An section in this Security Instmment, attachments, or any agreement related to th e Secured Debt that conflicts with applicable law will no[ be effective, unless [hat law expressly or impliedly permits the variations by written agreement If any section of this Security Instmment cannot be enforced according m its terms, Thal section will be severed and will not affect the enforceability of the remainder of this Security Instmment. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instmment are for convenience only and are no[ [o be used m interpret or define the terms of [his Security Instmment Time is of the essence in this Security Instrument. 26. 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 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 and to the appropriate party's address on page 1 of this Security Instrument, or many other address designated in writing. Notice to one rmstor will be deemed to be notice to all musmrs. 26. WAIVERS. Except to the extent prohibited by law, Trastor waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER TERMS. If checked, the following are applicable to this Security Instrument: E-1 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. E] Construction Loan. This Security Instmment secures an obligation incurred for the construction of an improvement on the Property. Fixture Filing. Trastor 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 Instmment 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. 0 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 boxes] 0 Condominium Rider = Planned Unit Development Rider 0 Other .......... ............................... E=J Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the date staled on page 1. g ) TODD SP BRUNDAGE (Dow) C CARL IA TO B�AGE (51 Bawre ) (S g m e) (Dare) ACKNOWLEDGMENT: /. STATE OF k /011mA- , COUNTY OF 99 )SS. onOrv1a °'�� This instrument was acknowledged before me this /�J da of by TODD S HRUNDAGE and CARLIA TU BRUNDAG.. y My commission expires: QC* Al NgiAAP -ShY of Mdrazka T. S.. A �NO1°'r weuq - Comm. E>rp. Apry' 19, 2603 p 1994 Bal Sync , Inc., 51. Crud, ae p eooe9v¢an1 rmm BE -o (page d of d) (=,VC165(NE) 199091