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200511384 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair o. I' the. Prorerty or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principa shall not extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the Grantor. If the Property is acquired by Beneficiary, Tmstor's right to any 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 }'OR 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. Trustor will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Tmstor agrees to sign, deliver, and file any additional documents or certifications that Beneficiary ma~ consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instmment and Beneficiary s lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instmment are joint and indiVidual. If Tmstor signs this Security Instrument but does not sign an evidence of debt, Tmstor does so only to mortgage Tmstor's interest in the Property to secure payment of the Secured Debt and Tmstor does not agree to be personally liable on the Secured Debt. If thIs Security lnstrument secures a guaranty between Beneficiary and Tmstor, Tmstor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Trustor or any party indebted under the obligation. These rights may include, but are not limited to, any anti-deficiency or one-action laws. Trustor 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 Trustor's consent. Such a change will not release Trustor from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Trustor and Beneficial. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument 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 that law expressly or impliedly 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 atfect 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. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Tmstee and appoint a successor tmstee without any other form~lity than the design~tion in ~riting. The successor tru~tee, wit~out conveyance of the Property, shall succeed to all the title, power and duties conferred upon Tmstee by thiS Secunty 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 rarty's address on page I of this Security Instrunient, or to any other address designated in writing. Notice to one trustor Will be deemed to be notice to all tmstors. 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights relating to the Property. OTHER TERMS. If checked, the following are applicable to this Security Instmment: D 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. D Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. D I<'ixture 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. D 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. rCheck all applicable boxes] D Condominium Rider D Planned Unit Development Rider D Other _ ____ D Additional Terms. 27. SIGNATURES: By signing below, Tmstor agrees to the terms and covenants contained in this Security Instmment and in any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page I. ~_L!. __"_ . (Signature) Steven D Millnitz J - .. 1 .~11' ---'a~1{ ./. - ----------- (Signature) Pamela K Mil... . tz (Date) (Dale) ACKNOWLEDGMENT: STATE OF _lJel?~_~"!!t~_ _ __ __ ____ ___ , COUNTY OF lIa~l__ __ __ __ This instrument was acknowledged before me this 8 th day of :~~:o~eJ:!lb_er 2005 by ~t~v~n_D__Mj.l_l~?-~z, Pamela K Millnitz My commission ires: 05/23/2006 GENERAL NOTARY. State of N b ANNf:TT. e raska -.. Myc ..., rE DAVIS omm. Exp. May 23, 2006 }ss. (Individual) .4 - --- -- - ?\S;aft;,~:_ -_ _ _ _ _ __ (Notary Public) {:--{.-'k-'~~rz; ANNETTE DAVIS EJ<:jJern 0 1994 Bankers Systems. Inc.. St. Cloud, MN Form RE-DT-NE 113012002 ... _ ~-C165(NEII03011 (page 4 of 4) . . .