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200210325 Unless otherwise agreed in writing, all insurance Ceeds shall be applied to the restoration or repair of the Pre ty or to the Secured Debt, whether or not then due, al Beneficiary's option. Any application of proceeds to principal shall not extend or pes(p ne the due date of the scheduled payyment nor change the amount of any payment. Any excess will be pIMaid to the Grantor. If the Properly is acquired by Hericticiary, Trustor s n¢hl to an insurance licks and prox:eels resulting from damage to the Property before the acquisition shall pass to Reneftciary to the extent othe 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. Truslor agrees to sign, deliver, and file any additional documents or certifications that Reneficiary may consider 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 -SIGs this Security Instrument are joint and individual. If Tn debt, Trustor does so only to morl�age Proctor's intere es do not agree to be personally liable on the Seem Beneficiary and Truslor, Trustor agP{rees to waive any ri against Trustor or any party indebted under the of anti -deficiency in one - action laws. Truslor agrees that modify or make any change in the terms of this Sccu Such a change will not release Trustor from the terms Instrument shall bind and benefit the successors and ass JCCESSORS AND ASSIGNS BOUND. All duties under s this Security Instrument but does not sift an evidence of 'to crty to secure payment of the Secured Debt and Trustor I?tha Security Instrument secures a guaranty between may prevent Beneficiary from bringing any action or claim These rights may include, but are not limited to, any ary and any party to this Security Instrument may extend, ument or any evidence of debt without Trustor's consent. ecunty Instrument. The duties and benefits of this Security rotor and Beneficial. 23. APPLICABLE LAW; SEVERABILITY• INTERPRETATION. This Security Instrument is governed by the laws of the lunsdiction in which Beneficiary is located, except to the extent otherwise required by the laws of [hejwisdlction where the Properly is located. This Security Instrument is complete and fully integrated. This Security instrument may not be amended or modified by oral agreement. Any cation in this Security Instrument attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If anyy section of this Securityy Instrument cannot be enforced according to its terms, that section will be severed and will not street the enforceability ot" 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 the otesignauon in writing. The successor trustee without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this § ecurity 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 1 of this Security Instrument, or to any other address designated in writing. Notice to one truster will be deemed to be notice to all trustors. 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisemem and homestead exemption rights relating to the Property. 27. OTHER TERMS. if checked, the following we applicable to this Security Instrument: D Line of Credit. The Sawed Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, (his Security Instrument will remain in effect wail released. D Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. 0 Fixture Filing. Trustor grants to Beneficiary a security interest in all grads 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. 0 Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the ter ms of this Scc,"i(y Instrument. [Check all applicable boxes] LJ Condominium Rider = Planned Uni( Development Rider = Other C Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Trustor also acknowledges receipta of a copy 7ofythis Security Instrument on the date stated on page 1. ____ C/_� 4wku!� ---- _1.1' ICS/__ _____________ _______________________________ regrawre) Macy A Redman lost.) (Sao.t ... ) (one) (Si9 ^eWr.� (nine) (alanature) Instal ACKNOWLEDGEMENT: (Individual) STATE OF_`- ThisInstrument we.ecknewl edbe(ore me this _ by — C- t P>"�r =�j t My coosnlxpires: (Notary Pudic) 01994 sower soon,. mo. sl eves.. secs eon. yr C (page 4of4) liM -CI 6501E) oe0e02