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<br />200710297
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<br />D. Trustor shall iI?-medjately notif'y. Beneficiary in .writing ~s soon as Trustor has reason to believe ther~ is any pending
<br />or threatened lllveStlgatlOn, claun, or proceedlllg relatlllg to the release or threatened release of any Hazardous
<br />Substance or the violation of any Environmental Law.
<br />
<br />12. ESCROW FOR TAXES AND INSlJRANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />
<br />13. JOINT AND INDIVIDUAL UABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br />this Security Instrument are joint and individual. If Trustor signs this Security Instrument but docs not sign an evidence of
<br />debt, Trustor docs so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and
<br />Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between
<br />Be~efici~ry and Trustor, Trusto~ agrees to waive any rig,hts . that may pre~ent Benefic~ary from bringing any .ac~ion or claim
<br />aga.lllst .. ~rustor or any party mdebted u':!der the obligatIO!"!, . These fights may lllclude, ,but are not ..lImited to, any
<br />anti-defiCiency or one-action laws. The duties and benefits of thiS Secunty Instrument shall bmd and benefit the successors
<br />and assigns of Trustor and Bendiciary.
<br />
<br />SEVERABILITY; INTERPRETATION. This Security Instrument is complete and fully integrated, This Security
<br />Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or
<br />any agreement related to the Secured Debt that contlicts with applicable law will not be effective, unless that law expressly
<br />or imp,liedly permits the variali~ms bl' written agreement: If any .~ection of this Se~~lrity .Instrumen~ cannot ~ e!1forc.ed
<br />according to Its terms, that sectIOn wllI be severed and Will not aHect the enforceablltty of the remalllder of thiS Secunty
<br />Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of
<br />the sections of this Security Instrument arc for convenience only and are not to be used to interpret or define the terms of
<br />this Security Instrument. Time is of the essence in this Security Instrument.
<br />
<br />14.
<br />
<br />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, Thesuccessor 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.
<br />
<br />16. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail
<br />to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing.
<br />Notice to one trustor will be deemed to be nolice to all trustors.
<br />
<br />15.
<br />
<br />17 . WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights
<br />relating to the Properly.
<br />
<br />18. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a
<br />zero balance, this Security Instrument will remain in effect until released.
<br />
<br />19. APPLlCA~LE LAW. This. Secl!rity ~ns.trument is governed by the laws as agrec:d to in the Secured Debt, ex~ept to the
<br />extent reqUired by the laws of the Junsdlctlon where the Property IS located, and applteable federal laws and regulatIOns.
<br />
<br />20. RIDERS. The covenants and agreements of each of the riders checked below are incorporated into and supplement and
<br />amend the terms of this Security Instrument.
<br />[Check all applicable boxes]
<br />
<br />o Assignment of Lea~es a_nd Rents_ ~t_Qther ....... ",' . . . . . . . . . ."....,~ ,,: ',_":_' . . .. .. . . . . . . . . . . . . . ................. ......... ... ........ . .
<br />21. LJ ~~ONST~UCTlON LO~N. This. Security Instrument is a const~uction security interest which secures an obligation
<br />mcurred for the construction of an Improvement on the Property.
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<br />22. 0 ADDITIONAL TERMS.
<br />
<br />~I?NA TUR~S: By signing, below, Trustor. agr~es to the ter~s and ~ovenants contained in this Security Instrument and in any
<br />attachments. rrustor also acknowledges receipt of a copy of thiS Secunty Instrument on the date stated on page 1.
<br />
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<br />X... .... ..wid .... ........~.................. (j;)~~~'}f~~Nu;)
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<br />na ) MELVIN W. WILLIAMS (Dale) (Signature) PATRICIA WILLIAMS (Date)
<br />
<br />A KNOWLEDGMENT:
<br />STA. T.E OF .~.E.~~~.~~~........ ...... ......................, COUNTY OF .~.~~~.. .......... ................... ...............} ss.
<br />(Individual) Th 5TH DECE
<br />IS mstrument was acknowledged before me this .................... day of ...... ~~~~! .~~~?.. .. .. .. .. ..... .. .. .. .. .. .......
<br />by . ~~~Y!~ .V'j: .V'j!~~IA~~;. ~A~~!~!~ .V'j.IW~~~,. ~.~~~.~~P. ~.~~. ~If~.... . . . . . . .. . ..................... ...................................... .
<br />My commission expires: ~..---..-.~.
<br />~ 0;:/ ,/7
<br />GENEAAL Ng~E ~~~~b'~" ;~, ;;;;, .. . . HH r' ::ill;;=--' H H H H H H H H H
<br />M C~.!!!!.T!~~XP: Aoril25J2008
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<br />
<br />~ @ 1994lJa"kers Systems. I"c., St. Cloud, MN Form OCP-REDT-NE 5/10/2005
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<br />(page 4 of 4)
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