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Application $ ,0121416929 200212388 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled yment nor change the amount of any payment. Any excess will be paid to the Grantor. If the Property is acquired by Reactionary, Trustor's right to an yy insurance policies and proceeds resulting from damage to the Property before the acquisition 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. Tmstor will not be 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 statement or information Beneficiary may deem reasonably necessary. Truster 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 Indictment and Beneficiary's lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are mans and individual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Toaster does so only to mortgage Tmstor s interest in the Property to secure payment of the Secured Debt and Toaster does not agree to be personally liable on One Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trusser, Trustor agrees to waive any rights that ma prevent Beneficiary from bringing any action or ctaun against Tmstor or any parry indebted under the obligation. These rights may include, but are not Flatted to, any antidefieiency or one - action laws. Truster agrees that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Tmsior's consent. Such a change will not release Trusser from the terms of this Security Instrument. The duties mid benefits of this Security Instrument shall bind and benefit the successors and assigns of Tmstor and Beneficial. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrmnent is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise regmed by the laws of the jurisdiction where the Property is located. This Security I strum eat is complete and fully integrated. Ttds Security Instmment may not be amended or modified by oral agreement. Any section 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 impinedly permits the variations by written agreement if any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural me singular. The captions and headings of the sections of dais 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 Beneficiary's option, may from time to time remove Tmstee and appoint a successor trustee without any other formality than the designation in canting. The successor trustee, without conveyance of the Property, shall succeed 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 mailing it by first class mail m the appropriate parry's address on page l of this Security monument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all musmrs. 26. WAIVERS. Except to the extent prohibited by law, Toaster waives all appeasement and homestead exemption rights relating to the Property. 27. OTHER TERMS. If checked, the following are applicable to this Security Instrument: C] 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 Immanent will remain in effect until released. F I Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. 77 Fixture Filing. Truster grants to Beneficiary a security interest in all goods that Grantor owns now or in the future and that are or will become fixture. 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 covemmmts and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument (Check all applicable boxes) = Condominium Rider (� Planned Unit Development Rider Q Other Additional Terms. SIGNATURES: By signing below, Trustor agrees se the terms and covenans contained in this Security instrument and in any atschmens. Trustor also acknowledges receipt of a copy of this Security Instmment on the date stated on page I. 1 IJ�IE It ME ISTER�. —? (Da! _... (SS weJ} ) (Signemre)_. ... ...(Date) ACE NOWLEDGMENT: Iss. uw.w.0 17 da of� STATE of _.1� QI��( C Cie, COUNTY OF .�, This instrument was acknowledged before me this �, _._ Y by JACKIE R MEISTER My cnmrzussion ex ;, ��MEPAL NOiAAY$ tale sl XeOrasYa �lruf t^ ��L 1�� - _ �'^u °e� CATRINA M. SHUDA (Notary Public) My Gomm Exp. Aug. 10, 2003 ((� 1889 amXers Syelema. lu., 6t cr—a MN t -gs e9FY9el, Form NE nT NE ogaow (papa 4 at 4) (O C165(NE) tonne(