200209675 - Laserfiche WebLink

Browse

200209675 Unless otherwise agreed in writing, all inswmce pproceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at F3enefrciary's option. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled pa meat nor change the amount of any payment. Any excess will be ppaarid to the Grantor. If the Property is acquired by Beneficiary, Trustor'a right to an insurance lrcies and prweeds resulting from damage to the Property befor •the acquisition shall pass to Beneficiary to the extent of[ he Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Truster will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary s lieu status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individuate tf Trustor signs this Security Instrument but dots not sr an evidence of debt, Trustor does so only to mortgage Trus[or's interest in the ftopa' to secure payment of [he Secured Deb[ and Trustor does not agree to be personally liable oa the Secured Debt. if this Security Instrumerrl. securev a guaran ty between Beneficiary and Trustor, Trustor agrees [o waive an y rights that may prevent Beneficiary from bringing any action ur claim against Trustor or any party m Ia nunder the ob rgahon. These rights may me ode, but are not litm[ed to, an y ann -0efiwency or one_ Pon laws. 'Trustor agrees that Beneficiary and any party to this S r ecuity Instrumwl rosy ez[ ®d, modify or make any change in the terms of this Seem�iry Instrument or any evtdeuce of deb[ without 97us[ I was ®[. Such n ctlange will not release Trustor from the terms of [his SawiTy Instrument. The duties and benefits of this Security Instram ®t shall bind and benefit the successors and assigns of Trustor and Beneficial. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Insnwnent is governed byy the laws of the Jwisdiction in which Beneficiary is located, except to the extent other wise required by the laws of thejuria fiction where the Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be am®ded or modified by oral agreement. An section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will net be effective, unless that law expressly or imphedly permits the variations by written agreement. Ir any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not atlas the ertforceabiliTy 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 Benefici 's option, may from time to time remove Trustee and appoint a successor trustee without any other formality than the desipwhon in writing. The successor trustee, without conveyance of the Property, shall sucitl to all the title, power and duties 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 nailing it by first class mail to the appropriate party's address on page l of this Security instrument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all trustore. 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 chocked, the following are applicable to this Socurity Instrument: (] Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. 0 Construction Loan. This Security Instrument saw es an obligation incurred for the construction of an improvement on the Property. Q Fixture Filing. Trustor grants to Beneficiary 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 suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. Riders. The covemants and agreements of each of the riders chocked below are incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes] 0 Condominium Rider 0 Planned Unit Development Rider 0 Other -------- . _ __________________ Additional Terms. SIGNA S: By stgmng below, Trustor agrees to the tams and covenants contained in this Security Instrument and in any attach �'s. ru stor�lso�eclmowleclges receipt of a copy of this Security ,{Lamon eat on the date scat on page 1. �/ __ SsPd2,29D2____ "• n.n SeP12.2002____ core) Jeffrey 0 Koch (Poe) (0m) aka Jeffrey Koch aka Susan Koch _____San IZ2902----- . ------------------------------ (siIte 6jl (Dale) (signature) (Data) (individual) STATE OF me this, II'� day by My (Notary Public) ©1994 Bmkes 6yslans , Inc, BICII VIN (1 900 397 2341) E91m RE-DT NE 1012719] KEPAIh9TAaY -:aeA (page 4of4) L166(NE) (9908).02 pgRRFN SAti w eenn. EW Mr P4.20M