200200632 - Laserfiche WebLink

Browse

..2:00200632 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 9enefrciary'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, Trustor's right to any insurance policies and precords resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Dchi immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Tmstor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. 'Prat... will provide. to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Truxlor 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 Instrment 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, Tmstor does so only to mortgage Trustor's interest in the Propperty to secure payment of the ecured Debt and 'Trustor does not agree to be personally liable on the Secured Debt. If lhls Security Inscamen[ secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Tmstor or any party indebted under the obligation. These rights may include, but are not limited to, any and- deficiency or one - action laws. Trustor agrees that Beneficiary and any party to this Security Instrument may extend, modify nr rneke any change in the terns of this Security Instrmnent or any evidence of debt without Trustor's consent. Such a change will not release Trustor from the tcmms of this Security Instrument. 'Ihe duties and benefits of this Security Instrument. shall bind and benefit the successors and assigns of Trustor and Beneficial. 23. APPLICABLE LAW; SEVGRABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required 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. Aoy section in this Security Instrument , attachments, or any agreemnent related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or implicitly permits the variations by written agreement. If an section of this Security Instrument cannot be enforced according to its terms, tint section will be severed and will not affect the enforceability of file 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 time terms of this Security instrument. Time is of the essence in this Security Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary of Beneficiary a 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 file Property, shall succeed to all Ilene 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 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 Tmstor will be deemed to be notice to all castors. 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisemew and homestead exemption rights relating to the Properly. 27. OTHER TERMS. If checked, the following are applicable to this Security Instranent: ❑ 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. ❑ Construction Taran. This Security Instrument secures an obligation incurred for Ihe construction of an improvement on the Property. ❑ Fixture Filing. Tmstor 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 Tnslmnient suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the I inform Commercial Code. ❑ Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and azncnd the terms of this Security Instrument. [Cheek all applicable boxes] ❑ 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. 'Trustor also acknowledges receipt of a copy of this Security Instrument on the date slated on page 1. / ( /. - (Sigwture) SHEBPII ANN WHITING (Dart) (9i &ramie) [late ACKNOWLEDGMENT: STATE OF N999AV A ...... ............................... COFWY OF HAfL....... ..... ....... .......... ................. } ss. t'm'"uutl) This instrument was acknowledged before me this ........151H....... day of .................JANVAIP. ZEN... I............. by SN €P.AIf.ANN WHI,T,ING.ASINGLE P. Ep$ AN .......................... 1.................. ........,........ ........... .................... . My commission expires: 01 -092007 .: GEOENA€ NOTARY-$taY al Ncbrasel (NN�nY Nth.) ... I JON A. HEATH JON A. HEATH (page 4 of 4 tlrnsa x.�x.,ar. __�L C�qq CM14A11'AE KH. Y�1003., seer -w.. 1a121a7