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200207485 Unless otherwise agreed in writing, all insmarue ppr Any shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Beneficiary's option. y application of proceeds to principal shall not extend or postpone the due date of the scheduled pa ent nor change the amount of any payment. Any excess will be paid ro the Grantor. If the Property is acquired by Beneficiary, Trustor' s right to any insurance olicies and proceeds revolting from damage to the Property before the acquisition shall pass to Beneficiary to the extent ot�the Seemed Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a Separate agreement, Truster will not be required to pay to Beneficiary finds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Tmstor will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Tmstor agrees to sign, deliver, and file any additional documents or certifications that Beneficiary tray consider necessary to perfect, continue, and preserve Granter's obligations under this Security Instrument mid 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 Property to secure �ayment of the Secured Debt and Tmto sr does not agree to be personally liable on the Secured Debt. If Ltus Security untrument secures a guaranty between Beneficiary and Trustor, Toaster agrees to waive any righis that may prevent Beneficiary from bringing any action or claim against 'Truster or any party m(chtcd under the obligation. These rights may include, but are not limited to, anyy, anti- deficiency or one - action laws. 'I nistor agrees that Beneficiary and any party to this Security Instrument may extea modify or make any change in the terms of this Secmity Instrument or any evidence of debt without Trustor's consent. Such a Change will not release' truster from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and bereft the successors and assigns of'Irustor and Beneficial. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the I I it cdon in which Beneficiary is located, except to the extent otherwise required by the laws of the jmisdretion where the Property is located. This Security Instrument is complete mid fully integrated. 'Phis Security Instrument may not be amended or modified by oral agreement Any section in this Security Instrument, altaclunents, 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. If n7 section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not a feet 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 Secmity, Instrument. Time is of the essence in this Security Instrument. 24. SUCCESSOR 'TRUSTEE. Beneficiary, at Benefrcimy's option, tray from time to time remove Trustee and appoint a successor trustee without any other formality than the designation in writing The successor nus[ee, without conveyance of the Property, shall succeed to all the title, power mid duties conferted 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 b first class mail to the appropriate party's address on page I of dris Security Instrument, or to any other address designated in writing. Notice to one hustor will be deemed to be notice to all tnistors. 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER TERMS. If checked, the following we applicable to this Security bistrumene Line of Credit. The Seemed Debt includes a revolving line of credit provision. Although die Secured Debt ntay, be reduced to a zero balance, this Security instrument will remain in effect until released. E= Construction Loan. Ills Security Instrument secures an obligation incurred for the construction of an improvement on the Property. C1 Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future and that arc nr will become fixtures related to the Property. This Security Instnimcnt suffies as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Cormnemial Code. 0 Riders. The covenants and agreements of each of the riders checked below are incorporated into and Supplement and anend the terms of this Security Instrument. [Check all applicable boxes] L-1 Condominium Rider = Planned Unit Development Rider 0 Other 0 Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any attaclunents. Trustor also acknowledges receipt of a copy of this Security hislrmnent on the date stated on page 1. Jul (19. A �;t,d 4�..��t — _ _ _ _ Jul 09, 2002 ° (si�a¢ e) Wil lien G Giddings (uatc) +wrc)Jea E Giddins (Day) Jul 09, 2002 (Signature) (Dare) (Signature) ACKNOWLEDGEMENT: (individual) STATE OF ° VILC G` COUNTY � OF This Instrument was ac powletlgoq b fore me this J C by �. I O_ � 1 III E, My commission expres I A IjN NnurnKGfk M merni G.' I ofd al_09.2002. (Date) )SS, 7 ()I i I a aaneers sysomz, In- 11 ciova. �F (-�, � {o�r� (Notary Public) D (page 4 of 4) IQ -Cl 65(N E) (irer) of