200305651 - Laserfiche WebLink

Browse

200305651 Application k 0121750889 Unless otherwise agreed in writing, all insurance pproceeds shall be applied to the restoration or repair of the Property or m the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds in principal shall not extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess wilt be paid to the Grantor. If the Property is acquired by Beneficiary, Trustor's right to anyy 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 net be required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficial on request, any financial statement or information Beneficiary may deem reasonably necessary. twor ary agrees m 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; COSIGNERS; 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 Trusior's interest in the Property in secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Tractor, Truster agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Trustor or any parry indebted under the obligation. These rights may include, but are not linutd 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 terns of this Security Instrument or any evidence of debt without Trustor's consent. Such a change will not release Toaster from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Tmstor and Beneficial. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the ] urisdiction in which Beneficiary is located, except to the extent otherwise regwrEd 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. An yy section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicablc law will not be effective, unless that law expressly or mnpliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced accordin g 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 Instrument are for convenience only and are not to be used to 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 and other formality than the designation in writing. The successor trustee, without conveyance of the Property, shall succeed to at the title, power and duties conferred upon Tmstee 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 to one tmslor will be deemed to be notice to all tmstors. 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: 0 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. E7 Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. E::] Fixture Filing. Toaster grants in Beneficiary a security interest in all gods that Grantor owns now or in the fume and that are or will become fixtures related to the Property. This Security Instrument suffices as a bouncing statement and any carbon, phonographic 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 mid amend the terms of this Security InsWment. (Check all applicable boxes] =1 Condominium Rider = Planned Unit Development Rider = Other Additional Terms. SIGNATURES: By signing below, Trustor 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 die date stated on page 1. 41 ir-5 Sigwturc) R ALD F ING _ (pate) (Signature) ACKNOWLEDGMENT: N STATE OF This instrument was acknowledged {� COUNTY O before me this by RONALD F KING My commission expires GENERAL NOTARY-State of Nebraska Clt CATgINA M. SHUf)A My Comm. Ezp. Aug . 10, 2003 .N1n©199< aanken SYMSM, ll ., St Cloud, MN 1180039] lI From HE dry✓ ®C165(NE) Iseaet (pule) F day of ...... Oki effu1 .... N'luc/d (NUWry Public) (page 4 of 4)