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200708952 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property 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 payment nor change the amount of any payment. Any excess will be paid to the Grantor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from damage to tbe Property before the acquisition shall pass to Beneficiary to tbe extent of tbe Secured Debt immediately before the acquisition. 20. 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. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial statement or infonuation Beneficiary may deem reasonably necessary. Trustor agrees (0 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 are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be 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 obligation. These rights may include, but arc not limited to, any anti-deficiency or one-action laws. Trustor agrees tbat Beneficiary and any party to this Security Instrwnent may extend, modify or make any change in the tenus of this Security Instrument or any evidence of debt without Trustor's consent. Such a change will not release Trustor from the tenus of this Security Instrument. Tbe duties and benefits of this Security Instrument shall bind and benefit tbe successors and assigns of Trustor and Beneficiary. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. Tbis Security Instrument is governed by the laws of the jurisdiction in wbich 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 tbat law expressly or impliedly penuits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its tenus, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include tbe plural and the plural the singular. The captions and beadings of tbe sections of this Security Instrument are for convenience only and are not to be used to interpret or define tbe tenns 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 Trustee and appoint a successor trustee without any otber fonuality 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. 25. NOTICE. Unless otherwise required by law, any notice sball 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. 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights relating to tbe Property. 27. OTHER TERMS. If checked, tbe following are applicable to this Security Instrument: o Line of Credit. Tbe Secured Debt includes a revolving line of credit provision. Although tbe Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. o Construction Loan. Tbis Security Instrument secures an obligation incurred for tbe construction of an improvement on the Property. o Fixture 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 Unifonu Commercial Code. D Riders. Tbe covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the tenus of tbis Security Instrument. [Check all applicable boxes] o Condominium Rider 0 Planned Unit Development Rider 0 Other.................................................. o Additional Terms. SIGNATURES: By signing below, Trustor agrees to the tenus 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. iSi;;'~~..........................iD;~j. iSi;;.;.;;;;j................. .................................. ..... .(D.~).. ACKNOWLEDGMENT: STATE OF N.~aaAS~A........ ..................... .... ..., COUNTY OF aUfFALQ...........................................} ss. This instrument was acknowledged before me this ........ .1.3T........ day of ......... ........... AUl3.USJ. 2007......... .. .. .. .. . ~y ~=~~~;~~: ~~~:,;;...................... ~hi.Ui"" . ................................ . (Notary Public (IlJdivklUBI) TONIA KONWINSKI ~ @1994Bonko,.Systoms.lnc..St. Cloud. MN Form RE-DT-NE 1/30/2002 (page 4 of 4J ff!!f.:\ .*" .':g." ;. .iIIOTMn' : \..~A$.i 'IUII'_' 1'OM~ M'I COMMISSION EXPIRES May 15, 2009