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200212406 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the PropaYy 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 pa ent nor change the amount of any payment. Any excess will be paid to the Grantor. If the Property is uired by Ben iciary, Truster s n¢¢hh[ to an insurance ppolicies and proceeds resulting from damage to the Property before the acquisition shall pass to Benefmiary to the extent o£[he Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Truster 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 Instrument 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 arejoint and individual. If Trusor signs [his Security Instrument but does not sigo an widence of debt, Truster does so only [0 mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Truster does no[ ogee to be personally liable on the Secured Deb[. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor ogees to waive any ri [s [hat may prevent Beneficiary from bringing any action or claim against Truster or any parry indebted under the obi tion. These rights may include, but are no[ limited [o, an antl` a EiTency or on, tr0. laws. Truster ,gees that Beneficiary and any party [o this Security Instrument may extend, modify or make any change In the terms of this Security Instrument or any evidence of debt without Trustor's cons ®t. Such a change will not release Truster from the terms of this Security Instrument. Th e duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Truster and Beneficial. 23. APPLICABLE LAW; SEVERABILITY• INTERPRETATION. This Security Insuument is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete and fully integrated. This Security Instrument 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 t[rat law expressly or impliedly permits the variations by written agreement. If an section of this Securi Instrument cannot be enforced according to its terms, that section will be severed and will not af3 "ect the enforceability 17 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 Beneficiar y's option, may from time to time remove Trustee and appoint a successor trustee without an other formality than the designation in writing. 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 taw. 25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it b first class mail to he appropriate party's address on page 1 of this Security Instrument, or to any other address designatZiin writing. Notice to one truster "I be deemed to be notice to all trustors. 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 checked, the following are applicable to this Security 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. El Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. D 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 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 covenants 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 = Other Additional Terms. SIGNATURES: By signing below, Toaster agrees to the terms and covenants contained in this Security Instrument and in any attachments. Trust r�l77��//��9��rr��,� ac-k-no�,w //ledges receipt of a copy of this Security Instrument on the date stated on page 1. 7_Lx_'_�__*�_?�_______ NOrD9.2DD2____ -------------------------------- (;R,nature) BBB y L Person (Daho (sisnat,.) (Dad.) ______________________________ NOv 04.2W2----- ------ (SlBnetureI (Dade) (Sionaium) (Individual) STATE OF me this 4 i day of by My ----------- NOa99.2DD2---- (Date) (Notary Pudic) 0 1994 Bmkef 3y0en11 lnL 51. Clmd MN (I 80M97 -2341) Form RE aI NE 10 (7197 (Pogo 4 or 4) d a•et Be1Nq(9808).02