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200209115 Application # 01212,59972
<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 />Grantor. If the Property is acquired by Beneficiary, Tristor's right m any iasurance policies and Proceeds resulting from
<br />damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before
<br />the acquisition.
<br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Tmstor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />21. FINANCIAL REPORTS AND ADDITIONAL, DOCUMENTS. Tmstor will provide to Beneficiary upon request, any
<br />financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any
<br />additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantors
<br />obligations under this Security Instrument and Beneficiary's lien status on the Property.
<br />22. JOINT AND INDIVIDUAL LIABILITY; COSIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this
<br />Security Instrmneut are joint and individual. If Trustor signs this Security Instrument but dues not sign an evidence of debt,
<br />Truster does so only to mortgage Tmstor's interest in the Property to secure payment of the Secured Debt and Tmstor does not
<br />agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and
<br />Truster, Truster agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Tmstor or
<br />any party indebted under the obligation. These rights may include, but are not limited to, tiny and-deficiency or one-action
<br />laws. Truster agrees that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the
<br />terms of this Security Instrument or any evidence of debt without Truster's cement, Such a change will not release Trustor
<br />from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the
<br />successors and assigns of Tmstor and Beneficial.
<br />23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the
<br />) urisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the
<br />Property is located. This Security Instrument is co mplete and fully integrated. This Security Instrument %, not be amended or
<br />modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement re ated m the Secured
<br />Debt that conflicts with applicable law will not be effective, unless that law expressly or implicitly permits the variations by
<br />written agreement. if any section of this Security Instrument cannot be enforced according to its terra, that section will be
<br />severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall
<br />include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for
<br />convenience only and are not to be used to interpret or define the tens of this Security Instrument. Time is of the essence in
<br />this Security Instrument.
<br />24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, nay from time to time remove Trustee and appoint a
<br />successor trustee without any other formality than the designation in writing. The successor troame, 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 1 of this Security Instrument, or to any other address designated in writing. Notice to one
<br />uuslor will be deemed to be notice to all mustors.
<br />26. WAIVERS. Except to the extent prohibited by law, Tmstor waives all appraisement and homestead exemption rights relating
<br />W the Property.
<br />27. OTHER TERMS. 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 Instmment will remain in effect until released.
<br />0 Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement
<br />on the Property.
<br />0 Fixture Filing. Tmstor grams 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 in the Property. This Security Instrument suffices as a financing statement and
<br />any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform
<br />Commercial Code,
<br />E=1 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 />0 Condominium Rider 0 Planned Unit Development Rider E=1 Other
<br />.......... ...............................
<br />E= Additional Terris.
<br />SIGNATURES: By signing below, Tmstor agrees to the terms and covenants contained in this Security Instrument and in any
<br />attachments. Tmstor also acknowledges receipt of a copy of this Security Instmmenl on the date sated on page 1.
<br />X
<br />( gnaw,) BRI MERS ( me) (Signawre) W&��o SUMMERS (Dam)
<br />ACKNOWLEDGMENT: a,' r'��
<br />STATE OF N�hhA�?�(Gt� ,CO TY OF i'' ,fhs] )as.
<br />omi.ie�ml This instrument was acknowledged before me this I ✓i day of �,(,(, UL{ Lp aP_
<br />M commissio SUMMERS and WENDY S RS
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<br />'GEXE(UL XgiAXY State 11 gb(it; a I� �//'�/� r�,f -
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<br />CATRINA M. SNUDA
<br />MY Gomm. E %P Aug. 10, 2003
<br />0 1M aankeM ayalins, Inc.. S. clue, Mn e-000397¢No Poem RE-m NE 1 v951 (page 4 of 4)
<br />' ®- CIM(NE) Ismsl
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