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UnlCas otherwise agreed in writing, all insurance proceeds shall be applied to the roatoration or repair of the Pro perty 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 tla[c of the scheduled pa went fair change the amount of any payment. Any excess will be paid to the Grantor. If the Propetty is acquired by Beneficiary, Toaster's right to any iatumnee olicies and proceeds resuming from damage to the Property before the acquisition shall pass to Beneficiary to the extent otFthe Secured llchi immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be required hi pay to Beneficiary funds for taxes and insurance in escrow. 21L. FINANCIAL REPORTS AND ADDII ZONAL DOCUMENTS. Truster will provide to Beneficiary upon request, any financial statement or Information Beneficiary may deem reasonably necessary, Truster 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 Instmntent and Beneficiary's lion and. fu the Property. 22. JOINT AND INDIVIDUAL LIABILITY- CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Inatmmcnt are joint and iudividual. If Trustor signs this Security Instrument but does not sign an evidence of debt, 'Toaster does so onlyy to mortgage Treater's interest in the Property to secure payment of the Secured Debt and Trustor does act agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Truster agrees to waive any rights that may prevent Sure from bringing any action or claim against Trustor or any party indebted under the obligution. These rights nay include, but. are not Ihfited tq any anti- delicieney or one - action laws. Tmstor agrcen That Beneficiary and any party to this Security Instrument may extend, modify or ndake any change in the tends of this Security Inatmmcnt or any evidence of debt without Toaster'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 Toaster and Beneficial. 23. APPLICABLE: LAW; SEVERABILFILY; 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. Auy 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 permits the variations by written agreement. It' anyy section of this Security Instruneat cannot be enforced according to its terms, that section will be severed and will not alfect 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. Thou is of the essence in this Security Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary s option, may from time to time remove Toaster and appoint a successor mrstm without any other fomtahty than the dus.6nation is 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 rnaifin 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 new truster will be deemed to a notice to all toasters. 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraiseient and homestead exemption rights relating to the Property. 27. OTHER TERMS. If checked, the following are applicable to this Security InstrumenC ❑ Line of Credit. The Seemed Debt includes a revolving line of credit provision. Although the Secured Debt may he redu" to a zero balance, this Security Instrument will remain in effect until released. • Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. • FU2ure Filing. Truster 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 Instrument suffices as a financing statement and any carbon, phoingraphie or other reproduction nay 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 and around the funds of this Security Instrument. [Check all applicable boxes] ❑ Condominium Rider ❑ Planned Unit Development Rider ❑ Other .................................................. ❑ Additional Tcndds. SIGNATURES: By signing below, Tmstor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Tmstor also acknowledges receipt of a copy of this Security Inslmmeat on the date stated on page 1. 'I rc) ROBERT A. RATHMAN (an) (gignaNrc) TEARY K. flATHMAN f ) ACKNOWLEDGMENT: STATE OF NA RAg RA ...... ............................... COUNTY OF ......... Nee-. ee— ... ........................ I as, ami.a�el This instrument was acknowledged before me this ........ YNP ... .... day of .................. APflll. 2W2................... 1--- by'wain A� N:.TF.AAY.K, f7ATNMAN, R4S9A9P. AND WIFE ,.... .._ .. .., GENERAL jM comnu 'd# rues: y 0i ova mnr. s a.iz.. sh cm.a, mry peonaazaaan ra.m aror rve horz�rs7 !page 4 41 GENERAL NOTNRY -SUM 01 Room 40N 0, BIeh' B 2009 pry Comm.FN