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or.RF_CORDEf)
<br />200205910 Application $ 0120979075
<br />200205132
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the
<br />Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or
<br />postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the
<br />GGramor. If the Property is acquired by Beneficiary, Trustor's right man insurance policies and proceeds Result.nng from
<br />damage to the Property before the acquisition shall pass m Beneficiary m the extent of the Secured Debi tmmediawly3efore
<br />the acquisition.
<br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />required to pay in Beneficiary funds for taxes and insurance in escrow.
<br />21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any
<br />financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file and
<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 lien stams on the Property.
<br />22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this
<br />Security Instrument are joint and individual. If Trustor s -gas this Security Instrument but does not sign an evidence of debt,
<br />Trustor does so only to mortgage Truslor's interest in the Property to secure payment of the Secured Debt and Tmstor does not
<br />agree [o be personally liable nn the Secured Debt. If tus 9ccurity Instrument secures a kvaranty between Aeneficiary and
<br />rustor, Tmstor aggrees to waive any rights That may prevent Benz tciary tiom bringing any action or deim against Trustor or
<br />any party tto ebteli under the obligatno These rights may include, but are not limited to, arty antrdeficleney or one - action
<br />laws. Tmstor agrees that Beneficiary and any party to this Security Inatmmenl may extent, modify or make any change in the
<br />mmha of (Iris Security Irtstnnnent nr any evidence of deb[ without Tmslor's coasent. Such a dhangc wdl not release Tmstor
<br />from the terms of ibis Security Instrument. The duties and benefits of tluS Security Instrument shall bind and benefit the
<br />successors and assigns of Trustor and Beneficial.
<br />23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the
<br />lwi,dic[ion in which Beneficiary is located, except lu the extent otherwise required by the laws of the jwisdiction where the
<br />Properly is located. This Security Ins[rwnenl hs complete ant fhlly integrated. This Security Instrument ma not be amended or
<br />modified by oral agrecmcnt. Any section to this Security Insimment, attachments, m any agreement related [o the Secwed
<br />Deb[ that conFlicts with applicable law will not be effective, uNess that law expressly or impliedly permits the variations by
<br />written agreement. If any section of this Security Instrument cannot be enforced according m its terms, that section will be
<br />severed and will not affect the enforceability of the rcmamder of this Security Inswmcnt. P'henever used, the singular shall
<br />tu:ly the plural and the plwal [he sI mhu The captions and headings of the sections of this Security Instrument are for
<br />convenience oNy and arc nut to be used to truerpre, in define the terms of this Security Irhstmment. Time is of the essence in
<br />this Security I ,raarerr
<br />24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to titre remove Trustee and appoint a
<br />successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of the
<br />Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and applicable law.
<br />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
<br />appropriate party's address on page I of this Security Instrument, or to any other address designated in writing. Notice to one
<br />=for will he dernned to be notice to all trustors.
<br />26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appwisement and homestead exemption rights relating
<br />to the property.
<br />27. OTHER 'PERMS. If checked, the following are applicable to this Security Instrument:
<br />Line of Credit. The 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 Instrument secures an obligation incurred for the construction of an improvement
<br />on the Property.
<br />E-1 Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future and
<br />that are or will become fixtures related to the Property. This Security Instrument suffices as a financing statement and
<br />any carbon, photographic or other reproduction may be }Bed of record for purposes of Article 9 of the Uniform
<br />Commercial Code,
<br />O Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and
<br />amend the terms of this Security Instrument. [Check all applicable boxes]
<br />= Condominium Rider 0 Planned Unit Development Rider = Other
<br />Additional Terms. - - ...................
<br />SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any
<br />attachments. Trustor also acknowledges receipt of a copy of this Security instrument on the dam stated on page 1.
<br />LEROY G HEUPEL.L ........ _.. ..... _ ... ..........
<br />.....(1]ate) (S,ywmrc)..
<br />(Siynalure) (Dare)
<br />ACKNOWLEDGMENT:
<br />STATE OF
<br />''(qq"(��
<br />c
<br />i - ........ .
<br />(bemu,,,c hus instrument was acknowledged
<br />T me this
<br />by LEROY G
<br />HE U PEL
<br />..... .....
<br />My COm n aSIQn
<br />d 11YtaAa
<br />GEMERAL TT.
<br />S. EI
<br />T. S. EIDE
<br />iii`) GWaIfL Elm, fprf 10, 2003
<br />Q 1881 eanbp SylMT6, Inc., St. Clwtl, MN )1 BW-397 230p Fo,m RE'DLNE 10/2]97
<br />CD®CIWNE) taste)
<br />/rt
<br />COUNTY OF
<br />L.7:,.. _.. day of
<br />....
<br />(Nob y Public)
<br />(page 4 of 4)
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