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200209116
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Last modified
10/15/2011 4:25:35 AM
Creation date
10/22/2005 9:28:14 PM
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DEEDS
Inst Number
200209116
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Application # 0121259782 <br />200209116 <br />Unless otherwise agreed in writing, all insurance rocceds shall be applied to the restoration or repair of the Property or m 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 dale of the scheduled payment nor change the amount of any payment. Any excess will be paid m the <br />Grantor. If the Property is acquired by Beneficiary, Trustor's right to anyy insurance policies and proceeds resulting from <br />damage to the Property before the acquisition shall pass to Beneficiary w the extent of the Secured Dcbt immediately before <br />the acquisition. <br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Truster will not be <br />required to pay to Beneficiary funds for taxes and insurance in escrow. <br />21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trusmr will provide in 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 Grantor's <br />obligations under this Security Instrument and Beneficiary's lien status 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 Truster signs this Security Insrumenl but does not sign an evidence of debt, <br />Trustor does so only to mortgage Tmstor's interest in the Pro try to secure payment of the Secured Debt and Tmsor does not <br />agree to be personally liable on the Secured Debt. If this Se(mkty, Instrument secures a guaranty between Beneficiary and <br />Tmstor, Tmstor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Truster or <br />any party indebted under the obligation. Tbese rights may include, but are not limited to, any anti-deficiency or one - action <br />laws. Truser agrees that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the <br />terns of this Security Instrument or any evidence of debt without Trustor's consent. Such a change will not release Tmstor <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 Trusor and Beneficial. <br />23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security iretnunent is governed by the laws of the <br />Iurisdiction in which Beneficiary is located, except to the extent otherwise re fired by the laws of the jurisdiction where the <br />Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or <br />modified by oral agreement. Any section m this Security Instrument, attachments, or any agreement related to the Secured <br />Debt that conflicts with applicable law will not be effective, unless that law expressly or imphedly 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 remainder of this Security Instrument. Whenever used, the singular shalt <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 terms of this Security Instrument. Time is of the essence in <br />this Security Instrument. <br />24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a <br />successor trustee without an y 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 ppang's address on page 1 of this Security Ins mmem, or to any other address designated in writing. Notice to one <br />im,tor will be deemed to be ounce to all trustors. <br />26. WAIVERS. Except to the extent prohibited by law, Truster waives all appraisememl and homestead exemption rights relating <br />to 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 die 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 />Fixture Filing. Tmstor 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 filed of record for purposes of Article 9 of the Uniform <br />Commercial Code. <br />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 = Other <br />Additional Terms. <br />SIGNATURES: By signing below, Truster agrees to the terms and covenants contained in this Security Instrument and in any <br />attachments. Truster also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. <br />(Si aalure) KENNETH # 1); I RT (pale) (Sis,� °`ru�re`)BRENDA J ANKERT ( yie) <br />ACKNOWLEDGMENT: !� <br />STATE OF QI�r`(G y�C(L , COUNTY OF <br />cia;aa�m1 ..t .. ed ......... ' day of ..... <br />This instrument was acknowledged before me this ]]�� [� <br />by KENNETH A DANKERT and BRENDA J DAN ERT / <br />My commission ex NERAI NOTARY -Stale o[ ACN Mka R <br />CATRINAM SHUDA �� L�.P2CIa46L .......... <br />My Comm. Exp. Aug. 10, 2(103 (rvoury ronac) <br />© 199E Bankers SM-vi. Inc.. S. CIw6 MN (I 800- 397 -2W) Form RE -DYNE 182757 (page 4 of 4) <br />lv <br />- C10(NE) Issue) <br />
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