200703397 - Laserfiche WebLink

Browse

200703397 D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any pending or threatened investigation, claim, or proceeding 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, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 13. JOINT AND INDIVIDUAL LIABILITY; CO~SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and indiVidual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Trustor docs so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not agree tobe personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Trustor or any party indebted under the obli,gation. These rights may include, but are not limited to, any anti-deficiency or one-action laws. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Trustor and Beneficiary. 14. SEVERABILITY; 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 permits the variati~ms by' written agreement; If any .section of !his Se.c~lfity .Instrumen! cannot ~ e!lforc.ed according to Its terms, that sectiOn Will be severed and Will not affect the enforceablhty 01 the remalllder of thiS Secunty 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 arc not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without any 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 law. 15. 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 1 of this Security Instrument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all trustors. 17. WAIVERS. Except to the extent prohibited by law, Trustor 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. APPLICA~LE LAW. This. Secl!rity ~ns.trument is governed by the laws as agre~d to ~ the Secured Debt, except to the extent reqUlred by the laws of the jUnSdlctlon where the Property IS located, and apphcable federal laws and regulations. 20. RIDERS. The coven~nt~ all(~ agreements of each of the riders checked below are incorporated into and supplement and amend the terms of tillS Secunty Instrument. [Check all applicable boxes] CXI Assignment of Leases and Rents D Other............................................................................................. 21. D 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, Trustor agrees to the terms and covenants contained in this Security Instrument and in any a..,hmen". Tru"", a1w "koowIedg" ""ipt nt a copy nt thi, Secnrity !",tnnnent o~ the~J" stated on page I. HH~~dY~f!<-CHH.H..H...... jjtldHj!jl)AwHHH.....tf!~Io( (Signature) ROBERT l. PARKER JR (Date) (Signature) LORll. PARKER (- . rDa~'<" ACKNOWLEDGMENT: STATE Of . ~.E.~~~.~~~...................................., COD TY OF . ~.~~~ .C.q~.~TY......................................} ss. This instrument was acknowledged before me this . ?~.~~ ............ day of . ~?~I.L:.~q9?.. .~............................... by . ~~~~~~~: :.~~~.~~ .~~;. ~~.~I.~.. ~^~~~~!.~~.~~~N~.~~.q .V!!~~..... ............~.... ......... .1-..... j ~~"'J""""""""""" . My commiSSiOn expires: 08.30.2010 k/~~ .~L, ....................................................... (NOlary Public) (Individual) ~ @ 1994lJ.okers Systems, loc., St. Cloud, MN Form OCP-REDT-NE 5110/2005 (page 4 of 4)