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.,. 200510072 D. Trustor shall if!lmed\ately notity. Beneficiary in .writing ~s soon as Trustor has reason to believe there is any pending or threatened mveshgatlOn, claim, or proeeedmg relatmg 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. 14. 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 ~.ebt, Trustor docs so only to mortgage. Trustor's interest in the P~opert% to ~ecure payment of the Secured Debt and I rustor does not agree to be personally hable on the Secured Debt. It tIllS Seeunty 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 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 ot Trustor and Beneficiary. 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 cont1icts with applicable law will not be effective, unless that law expressly or impliedly permits the variati~)ns b)' written agreement: If any .~ection of ~his Se~~rity Instrumen~ camlo~ b~ enforced aecordmg to Its terms, that section WIll be severed and Will not alteet the entor"eablhty of the remamder ot 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 are 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. 16. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to t~e appropriate par~y's address on page ~ of this Security Instrument, or to any other address designated in writing. Notice to one trustor Will be deemed to De notice to all trustors. 15, 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 (If credit. Although the Secured Debt may be reduced to a zero balance, this Security Instrument wijj remain in effect until released. 19. APPLICABLE LAW. This. Security ~ns.trument is governed by the laws as agre~d to in the Secured Debt, ex~ept to the extent reqUired by the laws of the JUflSdlctlon where the Property IS located, and applicable federal laws and regulatIons. 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. [Check all applicable boxesJ [] Assignment of Leases and Rents D Other............................................................................................. [.J 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. [J ADDITIONAL TERMS. 20. 21. SIGNATURES: By signi!1g below, Trustor agrees to the terms 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. liJfifj,{tNerl~~"~r~ (Signature) (Dale) ACKNOWL:~~~~~T.:.. ... ..qy.qra.~t(y... ... ... ... ... .., COUN~r OF... ...... .bfI{L~U. ... ... ...... ... ...... ...... ....} ss. (Im1iviuual) f'I'h" " kId d b f thO -" d t' / J I I J L 2. Il/l~ IS II1strument was ac now e ge e ore me IS......?': ..~"... ay 0 ....... <-IVl-<v1"v'1,..( ;~....................... by . J.Q!Yn~. .~. N~!~~n,. . .. . .. . .. .. . ... ... ... . .. . .. . . . .. . .. . ... . .. .. . . .. . .. . .. . .. ... . . . .. . . . . . .: ... .................................. . My commission eXPires:<{a t1 51, Z-OOq ".." "..... .. ".. .. ... (.~ . . .... .... ... ... ....... .. " (Notary PUblic) J:1fERAL NOTARY. ........... PAULA BOROFF My Comm. Exp. Jan. 31. 2001 E.x:j5i2?iiJ: @ 1994 Bonkors SY>lems, Inc., St. Cloud, MN rorm OCP-REDT.NE 1/3112003 (page 4 of 4J ,~