200200800 - Laserfiche WebLink

Browse

Application i! 0120811120 200200800 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration Or repair of die Properly Or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or postro me 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, Tmstor's right to an insurance policies and pmcceds 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, Trustor will not be required to 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. Trustor agrees to sign, deliver, and file any additional documents ar certifications Out Beneficiary may consider necessary to perfect, continue, and preserve Grantor s obligations under this Security Instrument and Beneficiary's lien stairs on Ore Property . 22. JOINT AND INDIVIDUAL. LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS ROUND. All duties under this Security Instmment are joint and individual. If Trustor signP this Security Instrument but does not sign an evidence of debt, Trustor does so only to mortgage Tonatur's interest in the Property insecure payment of the Secured Debt and Trustor does not agree to be personally liable on the Sccured Debt. If thrs Security Instrument 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 tndcbte under the obligation. These rights may include, but are not located to, any anti - deficiency or one- action laws. Trustor agrees that Beneficiary and any party to this Security instrument may extend, modify or make any change in the terms of this Security Instmment or any evidence of debt without Tmstor's consent Such a change will not release Trustor from the terms of this Security Instwnent. The duties and benefits of this Security Instrument shall baud and benefit the successors and assigns of Trustor and Beneficial. 27, APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the Iurisdiction in which Beneficiary is located, except to the extent otherwise reQUUed by the laws of the jurisdiction where the Propperty is located. This Security luxtrument is complete and fully integrated. This Security Instmment may not be amended or no, tried by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or implicitly Ferrous the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will oat 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 Processor trustee without any Omer title, power and duties conferred designation ed pon Tr isstte by this Security Instrumentiand applies ble law. e Property, shall succeed to all the title, p 25. NOTICE. Unless otherwise required by haw, 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 ttustor will be deenned to be notice to all trusters. 26. WAIVERS. Except to the extern prohibited by law, Truster waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER 'PERMS. If checked, the following are applicable to this Security Instrument: E�l Line or 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. 0 Construction Loan. This Security Instrument secures an obligation incurred for the construction Of an innprovement on tie 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 m the Property. This Severity lnstmment suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of ire Uniform Commercial Code. L_) Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend die terms at Rider Security Instrument. [Check all applicable boxes] me C Planned Unit Development Rider LL Other _ .. Additional Terms. SIGNATURES: By signing below, Trustor agrees to the Perms and covenants contained in this Security Instrument and in any , nachments. Trustor also acknowledges receipt of a copy of this Security Instmment on the data sited on page 1. (Sy en, �4C"tiAR 'SPFFE IFER.. . (Date) ACKNOWLEDGMENT: STATE OFthfu_�� -c` COUNTY OF }ss. ( a -6'a This instrument was acknowledged before me this t } Uf� day of by CHARLES F PFEIFER and CHRISTIJ1Fy.$.�d7FdiIFER _.. My commission expires: �GEKMNTARY4W cry Vuhl L) �n© 1y960MMe5 Byaams.InC.. A. QouL, MN r- 000 3YL]a 111 Farm RE -0FNt 1M]IY] (page 0 of of (MeCl65tNE) osao)