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200305887 Application M 0121695977 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 ra Gntor. If the Property is acquired by Beneficiary, Tmstor's right m any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to c extent of the Secured Debt hnmediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE, Unless otherwise provided in a separate agreement, Trustor will not be required to pay in Beneficiary foods 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. Truster 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; COSIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Toaster signs this Security Instrument but does not sign an evidence of debt, Tmstor does so only to mortgage Tmstor's interest in the Properly to secure payment of the Secured Debt and Truster does not agree to be personally liable on the Secured Debt. If this Securi Instrument secures a guaranty between Beneficiary and Tmstor, Tmstor a ees to waive any rights shat may prevent Beneficiary from bringing any action or claim against Tmsor or any party indebted under the obligation. These rights may include, but are not limned tin, any anti- deficiency or one -action laws. Toaster agrees that Beneficiary and any party to this Security Bstmmem may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Tractor's consent. Such a change will not release Triestor from the terns 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 m the extent otherwise requhed 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 m 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 any section of this Security Instrument cannot be enforced according m its terms, that section will be severed mid 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 Tmstee 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 A 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 trustor will be deemed to be notice to all trusters. 26. WAIVERS. Except to the extent prohibited by law, Tmsor waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER TERMS. If checked, the following are applicable to this Security Insbumcm : 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 Indictment will remain in effect until released. E] Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. Fixture Filing. Trasmr grails to Beneficiary a security interest in all goods that Grantor owns now, or in the fumes 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 tiled 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 boxesJ = Condominium Rider = Planned Unit Development Rider El Other D Additional Terms. SIGNATURES: By signing below, Tmstor agrees to the terms and covenants contained in this Security Instrument and in any atraclunents. Truster also acknowledges receipt of as tcopy of this ��Security 7instrument on the date stated on page 1. (Signature) Y JJ D� _ ..flirt✓/ aici (51ywNrel BETTtoY A DESAIRE (Dace) ACKNOWLEDGMENT: STATE OF 'J Q�P{ (("� , COUNTY O This instrument was acknowledged before me this U ....... by LARRY J DESAIRE and BETTY A DESAIRE My commission expires: GENERAL NOIARV -Slate of Mehlasta yl rATRINA M. SHUO pp03 "^>• My Comm Exp. Aug. 199d pankers Systems, lnc., 31. 1)FO RE -EMNE 1M7N7 ®C165(NE) gnat P �� AA'' day of kl w wl .... .... y (N.,oy rvmro) (page 4 of 4)