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<br />200601431
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<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Proferty or to
<br />the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principa shall not
<br />extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid
<br />to the Grantor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting
<br />from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br />before the acquisition.
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<br />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
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<br />21.
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<br />FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any
<br />financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any
<br />additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's
<br />obligations under this Security Instrument and Beneficiary's lien status on the Property.
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<br />22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br />this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of
<br />debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor
<br />does not agree to be personally liable on the Secured Debt. If thIS Security Instrument secures a guaranty between
<br />Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim
<br />against Trustor or any party indehted under the obligation. These rights may include, but are not limited to, anv
<br />anti-deficiency or one-action laws. Trustor agrees that Beneficiary and any party to this Security Instrument may extend,
<br />modify or make any change in the tenus of this Security Instrument or any eVIdence of debt without Trustor's consent.
<br />Such a change will not release Trustor from the terms of this Security Instrument. The duties and benefits of this Security
<br />Instrument shall bind and benefit the successors and assigns of Trustor and Beneficial.
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<br />23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the
<br />jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the
<br />Property is located. This Security Instrument IS complete and fully integrated. This Security Instrument may not bc
<br />amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to
<br />the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the
<br />variations by written agreement. If an)' section of this Security Instrument cannot be enforced according to its terms, that
<br />section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used,
<br />the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security
<br />Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time
<br />is of the essence in this Security Instrument.
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<br />24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a
<br />successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of
<br />the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and
<br />applicable law.
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<br />25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to
<br />the appropriate p'arty' s address on page 1 ofthis Security Instrument, or to any other address designated in writing. Notice
<br />to one trustor wIll be deemed to be notice to all trustors.
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<br />26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights
<br />relating to the Property.
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<br />27. OTHER TERMS. If checked, the following are applicable to this Security Instrument:
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<br />D Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the ~ecured Debt may be
<br />reduced to a zero balance, this Security Instrument will remain in effect until released.
<br />D Construction Loan. This Security Instrument secures an obligation incurred for the construction of an
<br />improvement on the Property.
<br />D Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future
<br />and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing
<br />statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of
<br />the Uniform Commercial Code.
<br />D Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement
<br />and amend the terms of this Security Instrument. [Check all applicable boxes]
<br />D Condominium Rider D Planned Unit Development Rider D Other _______________________________________________________
<br />D Additional Terms.
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<br />SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any
<br />attachm,ents',T IJ]l!r st, or also ac, kn~l, edges receipt of a copy of this Security Instrument on the date st,ted ':In, page 1.
<br />(, , '---""I/: . /' ); .'
<br />~~~_____ J:~__f~IL1G._2.006--------- _____",_k~4~.i!JlR..__y(----?!~---.Eeb.1G.-2.006---------
<br />(Signature) Steven G Miles ' (Date) (Signature) Vernelle J Mil~s (Date)
<br />
<br />_________._.................._______________________________Een_tO.2G06___________
<br />(Sign-ature) (Date)
<br />
<br />____________________________________________________ _. _ __ ____ _ _Eeb _10..2.006,. _ _ _" _ __
<br />(Signature) (Date)
<br />
<br />
<br />GEHElW. NOTARY. SIIlI cf NeINasIaI
<br />I.ARRY W1UiELMI
<br />My Comm. Ftb. 6, 2018
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<br />"'
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<br />ACKNOWLEDGEMENT: /lI- ()
<br />(Individual) STATE OF f.X/{' , ____, COUNTY QIj_
<br />This instrument was ~CknOwledged before me this 10 (VI '"
<br />by Steven G ~~I,!_~~~!!~~lIe J Miles
<br />My commission e .
<br />
<br />}SS.
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<br />~ 0 1994 Benkers Systems, Inc" SI. Cloud, MN Form RE.DT.NE 1/30/2002
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<br />G.C165(NE) (0301)
<br />@
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<br />(page 4 of 4)
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