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200315319 D. Trustor shall Immediately notify Beneficiary in writin as soon as Tmsror has reason to believe there is any pending or threatened investigation, claim, or poc mg relating to the release or threatened release of any Hazardous Substance or the violation of any Environmental Law. 12. 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. 13. JOINT AND INDIVIDUAL LIABD.ITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. if Truster signs this Security Instrument but does not sign an evidence of debt, Truster does so only to mortgage Trustot's interest in the Property to secure payment of the Secured Debt and Truster does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a uarnty between Beneficiary and Trustor, Truster agrees to waive any rights that may prevent Beneficiary from g bringing any action or claim against Tmstor or any party indebted under the obligation. These ri ghts may Include, but are not limited to, any anti - deficiency or one laws. The duties and benefits of this Security 1nstrumnt shall hind and benefit the successors and assigns of Truster and Beneficiary, 14. SEVF.RABILITY; INTERPRETATION. 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 that law expressly or impliedly perndts the variations by written agreement. If any section of this Security firinumnt 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 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. 15. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without any other formalit y than the designation In writing. The nccessor 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. 16. 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 I of this Security Instrument, or to any other address designated in writing. Notice to one truster will be deemed to be notice to all trusters. 17. WAIVERS. Except to the extent prohibited by law, Truster waives all appraisement and homestead exemption rights relating to the Property, 18. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. 19. APPLICABLE s svt governed y laws s lt �c sp the ext ntt r gred by the l wof he jurisdctionwhe the Property is occated, and applicable federal laws regulations. 20. 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? lJ Assignment of Leases and Rents =Other ---- -- -- - - -- --- ---- - -- - -- ---- ---- -- - - --. 21. = CONSTRUCTION LOAN. This Security Instrument is a construction security interest which secures an obligation incurred for the construction of an improvement on the Property. 22. D ADDITIONAL TERMS. SIGNATURES: By signing below, Truster agrees to the terns and covenants contained in this Security Instrument and in any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. -- - — (SijnaWre)T1tAV1Sr A LILIENTiiAL STEPFIAN M LILIENTBAL (Dace) ACKNOWLEDGMENT: ,t/ STATE OF lye W"5 kee ___ , COUNTY OF ___ _z( l/ _ )ss. This instrument was acknowledged before me this /l3 _ day of Nelc'{=rK by ---- TCa ✓,5 ,AWk' S% �4io f -_F% �oih.4,_ 36n (�C' - My commission expires: ®py IFARl -smre's HO ___ (Btpglply l.IOW A - ---- -_ I Q 199< B"nken syeiema. m�.. St CI"d MN Po1m OCP- HreT.NI 1110/99 [page 4 of 41 " C465(NE) 199021o2 iA