|
<br />11 I , ..
<br />
<br />200808824
<br />
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to
<br />the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not
<br />extend or postpone the due date of the scheduled payment nor cliange 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,
<br />
<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,
<br />
<br />21. 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, dehver, and file any
<br />additional documents or certifications that Beneficiary mar consider necessary to perfect, continue, and preserve Grantor's
<br />obligations under this Security Instrument and Beneficiary s lien status on the Property,
<br />
<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 indebted under the obligation. These rights may include, but are not limited to, any
<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 tenns of this Security Instrument or any eVIdence of debt without Trustor's consent.
<br />Such a change will not release Trustor from the tenns of this Security Instrument. The duties and benefits of this Security
<br />Instrument shall bind and benefit the successors and assigns of Trustor and Beneficiary,
<br />
<br />23, APPLICABLE LAW; SEVERABILITY' INTERPRETATION. This Security Instrument is governed by the laws of the
<br />jurisdiction in which Beneficiary is 10cat;J, 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 be
<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 any section of this Security Instrument cannot be enforced according to its tenns, 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 tenns of this Security Instrument. Time
<br />is of the essence in this Security Instrument,
<br />
<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 fonnality 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.
<br />
<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 early's address on page 1 of this Security Instrument, or to any other address designated in writing, Notice
<br />to one trustor WIll be deemed to be notice to all trustors,
<br />
<br />26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights
<br />relating to the Property,
<br />
<br />27. OTHER TERMS. If checked, the following are applicable to this Security Instrument:
<br />
<br />D Line of Credit. The Secured Debt includes a revolving line of credit provision, Although the Secured Debt may be
<br />
<br />reduced to a zero balance, this Security Instrument will remain in effect until released,
<br />
<br />D Construction Loan. This Security Instrument secures an obligation incurred for the construction of an
<br />
<br />improvement on the Property,
<br />
<br />D Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future
<br />
<br />and that are or will become fixtures related to the Property, This Security Instrument suffices as a financing
<br />
<br />statement and any carbon, photographic or other reproduction may be filed of record for pUrposes of Article 9 of
<br />
<br />the Unifonn Commercial Code.
<br />
<br />D Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement
<br />
<br />and amend the tenns of this Security Instrument, [Check all applicable boxes]
<br />
<br />D Condominium Rider D Planned Unit Development Rider D Other _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ __ _ _ _ _ __ _ ..
<br />
<br />D Additional Terms.
<br />
<br />SIGNATURES: By signing below, Trustor agrees to the tenns and covenants contained in this Security Instrument and in any
<br />attachments, Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1,
<br />
<br />~~-1 f.~ . . . . .... .\.'T~~ C>~ (s~';";'i
<br />
<br />A SINGLE PERSON
<br />ACKNOWLEDGMENT:
<br />STATE OF ~~~~_sX<3:. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ , COUNTY OF Hall
<br />This instrument was acknowledged before me this J..7j:.!1._ _ _ _ _ _ _ day of 99j:..9p~_r_ _2_0_0J~ _._
<br />by $Y~~__~,_ J~QWQ~~,- _}\. J2:L G~E__P~ERS_ _ __ _ __ __ __ _ __ __ __ __ __ _ __ __ __ __ __ ____ ..
<br />My commisso . O^>-~
<br />GENERAL NOTARY. Stat8 of NeIn8IIa
<br />JON A. HEATH
<br />My Gomm, Exp. Jan. 9. 2011
<br />
<br />(Date)
<br />
<br />(Individual)
<br />
<br />}ss,
<br />
<br />
<br />-~-~~--~-----
<br />
<br />(Notary Public)
<br />
<br />o 1994 Wolters Kluwer Financial Services - Bsnkers Systems'" Form RE-DT-NE 12/15/2006
<br />VMP@-C165(NEI (07061
<br />
<br />(page 4 of 4)
<br />
|