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<br />Unless otherwise agreed in writing, all insurance pproceus shall be applied to the restnra m or repair of the Properly or to
<br />the Secured Deb[, whether or col then due, at 13eneticiary's option. Any application of proceeds to principal shall not
<br />extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid
<br />to the Grantor. If the Property is acquired by Beneficiary, Toestor's right to any insurance policies and proceeds resulting
<br />front damage to the Property before the acquisition shall pass to Beneficiary u, the extent of the Secured llebl umnediately
<br />before the acquisition.
<br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Traitor will provide to Beneficiary upon request, any
<br />financial statement or information Beneficiary may dorm reasonably necessary. Trustor agrees to sign, deliver, and file any
<br />additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's
<br />obligations under this Security Instrument and Beneficiary's hen stains on the Property.
<br />22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. AB duties under
<br />this Security Instrument are joint and 'individual. If Trustor signs this Security Instrument but does not sign an evidence of
<br />debt, Trustor does so onlyy to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and
<br />Trustor does not agree to be personally liable on the Secured Debt. If this Scruri v Instrument secures a guaranty between
<br />Beneficiary and Truster, Tmstor agrees to waive any lights that may prevent Bcaeftciaa, front bringing any action or claim
<br />against Toaster or any party indebted under the obligation. These rights may include, but are not limited to, any
<br />anti - deficiency or one -action laws. Trustor agrees that Beneficiary and any party to this Security Instrument may extend,
<br />modify or make any change in the temts of this Security Instrument or any evidence of debt without Tinder's consent.
<br />Such a clum a will not release Trustor front the terms of this Security Instrument. The duties and benefits of this Security
<br />Instmment shall hind and benefit the succeaams and assigns of Trustor and Beneficial.
<br />23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the
<br />jurisdiction in which Benetciary is located, except to the extent otherwise required %y the laws of the jurisdiction where
<br />the Property is located. This Security Instrument Is complete and fully integrated. '1 Lis Security Instrument may rut be
<br />amended or modified by oral agreement. Any section in thus Security Instrument, attachments, or any, agreement related m
<br />the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or implicitly permits the
<br />variations by written agreement. If any section of this Security Instrument cannot be enforced according to its tarts, That
<br />section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used,
<br />the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security
<br />Iust amen are for convenience only and are not to be used to interpret or define the terms of Ibis Security Instrument.
<br />Time is of the essence in this Security Instrument.
<br />24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary s option, may from time to time remove Trustee and appoint a
<br />successor trustee without any other formality than the designalica in writing. The successor trustee, without conveyance of
<br />the Property, shall suceee to all [lie title, power and duties conferred upon Trustee by this Security Instrument and
<br />applicable law.
<br />25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mair it by first class mail
<br />to the appropriate party's address on page I of this Security Immunicar, or to any other address designated in writing,
<br />Notice to one trustor will be deemed to be notice to all lrustors.
<br />26. WAIVERS. Except to the extent prohibited by law, 'Tmstor waives all appraiscment and homestead exemption rights
<br />rotating In the Property.
<br />27. OUTER TERMS. if checked, the following are applicable to this Security Rumanian:
<br />Ill Line of Credit. iLe Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be
<br />reduced TO a zero balance, this Security Instrument will remain in effect until released.
<br />• Construction Loan. This Security Instument secures an obligation incurred for the construction of an improvement
<br />ono the property.
<br />• Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future
<br />and that arc or will become fixtures related to the Property. This Security Instrument suffices as a financing
<br />statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the
<br />Uniform Commercial Code.
<br />• Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and
<br />amend the tends of this Security Instrument }Check all applicable boxes]
<br />❑ Condominium Rider ❑ Planned Unit Development Rider ❑ Other ................... ...............................
<br />❑ Additional Terms.
<br />SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Itulrmneta and in any
<br />attachments. Trustor also acknowledges receipt of a copy of this Security instrument on the date stated on page 1.
<br />LISHE CONSTRUCTION CO., INC.
<br />/V�... ��........... \.. _.....� :f: /.+� /t2.,.��,.. r5!', ...... ......................................... ...............................
<br />t (Stgfwmre) LED C. OSRE, PPESIDEO (Dam) Ungnal'I (Dare)
<br />ACKNOWLEDGMENT: ,
<br />ST'A'TE UN ...... S'. e'.:. `., l:'.
<br />..._ .................... COUNTY OF ....... .................. ........
<br />...} ss.
<br />fm'"uu c 'Phis instrument was acknowlelgrlo before die this ` ........ day of .. -._: ' `
<br />.. :. %., 1.: , .�
<br />My comwdmssion ex mrgs' j
<br />GENERAL
<br />NDTARRSIaIe of NeOmsNa ..... . ......................................
<br />� JON A. HEATH (NUVY Pubaa)
<br />a,H,t aMen Cn t ro,msroT -sr iorwia> !page 4 or 4.
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