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200208158 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the taster at ion or repair of the Property or to the Secured Debt, whether or not then due. at Benehciary's option. Any application of pioeccds to principal shall not exmnd or postpone the due date of the scheduled pe ,,ment nor change the amount of any payment. Any excess will be paid to the Grantor. It the Propert}�is acquired by Belm iciary, Truslor's right to any insurance policies and proceeds resulting from damage to the Property before the acq leall n 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 he 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 simenomt ,, infurntation Beneficiary may deem reasonably necessary. 7rustor agrees to sign, deliver, and file any additional documents or certifications that Beneficiary may emsider necessary to perfect. continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary's lien status on the Property _ 22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUC'C'ESSORS AND .ASSIGNS BOUND. All duties under this Security Instrument arejoint and individual. If Trustor signs this Security Instrument but does not sign an evidence of debt. Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. It this Security Instrument secures a guaranty between Beneficiary and Truster. l7ustor agrees to waive any ri hts that may prevent Bcncficer, from bringing any action w claim against Truster or any party indebted under the ob gafor, these rights may include, but are not limited to, :myr anti- deficiency or one - acton laws_ Trustor agrees that Ereficimy and any party ro this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Trustei's consent. Such a chen �c will not release Trustor from the tell,, of this Security Instrument the duties and benefits of this Security Instrument , cH bind and benefit the suec „or, and assigns of Trustor and Beneficial. 23. APPLICABLE LAW; SEVERABILITV; INTERPRETATION. This Security Instrunent is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws cf thejuri,diction 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, Any section in this Scemity Instrument, attachments. or any agreement related to the Seemed Debt that conBicts with applicable law will not be et'hauce, unless that law expressly or implicitly permits the variations by written agreement If call ,cction if'the, Scemity Inslrumenl cannot be enforced according to its terms, that section will be severed and will no[ attect 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 Beneficiaryy s option. may from time to time remove Trustee and appoint a successor trustee without any other formality than Lhc dusi metier in writing. The successor trustee, without conveyance of the Property, shall succeed to all the title, power and 11 es, 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 I of this Security Instrument, or to any other address designated in writing. Notice to one Trustor will be deemed to be notice to all castors. 26. WAIVERS. Except to the extent prohibited by law. Trustor waives all appraisement and homestead exemption rights relating to the Property. 27. OTHER TERMS. Ifdiecked, the tbllnsing are applicable to this Security Instrument I Line of Credit. The Secured Debt includes a revolving Tine of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. Construction Loan. Phis Security Instrument securev an obligation incurred for the construction of art improvement on the Property. Fixture Filing. Trustor grant, to Bcncllcimr 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 suffice, a, it financing stutenunt and any carbon, photographic or other reproduction may be filed of record for proposes of Article 9 of the Uniform Commercial Code. Riders. 'I lie covenants and agreements of each of the riders checked below are incorporated into and supplement laid contend the terns of thiu Security Instrument. [Check all applicable boxes] I Condominium Rider I Planned Unit Development Rider Other Additional Terms. SIGNATURES: By signing below, 77ustor agrees to the terms and covenants contained in this Security Instrument and in any ,attachments. Trustor also acknowledge, receipt of a copy of this Security Instrument on the date slated on page I. E C�RK A]RX [Signanas JASON E CLARK trend 6ipm¢n iKRISTA K CLARK tUme) ACKNOWLEDGMENT: / STATE OF Al"Y'4 S6d— , COON IY OI Hall i Thi, instrument was ucknowledged before me this3let day of July 2002 by JASON E CLARK, KRISTA K CZAR% My caner .r F-tWZRALstain ,. na'san sv.:ems. m, .*t- reim+ta'nmE'imaz9z (page a of a) - C166(NE) rs000}oi s