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/. t 20100317
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<br />Unless otherwise agreed iu writing, all insurance proceeds shall be applied to 'the CeStoration or repair of the Property oC 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 change 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 />20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />required to pay to Beneficiary funds far taxes and insurance i^ escrow.
<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, deliver, and file any
<br />additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's
<br />obligations under this Security Instrument and $eneficiary's lien status on the Property.
<br />22. JOINT AND INDIVIDUAL LLABILTTY; 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, Ttustor does 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 />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,"'lint are no7 "limited to, any
<br />anti-deficiency or one-action laws. Trustor agrees that $eneficiary and any party to this Security Instrument may extend,
<br />modify or make auy change in the terms of this Security Instrument or any evidence of debt without Trustor's consent.
<br />Such a change will not release Trustor from the terms 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 />23. APPLICABLE LAW; SEVERABILTTY; INTERPRETATION. This Security Instrument is governed by the laws of the
<br />jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where
<br />the 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 nay section of this Security Instrument cannot be enforced according to its terms, 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 terms of this Security Instrument.
<br />Time is of the essence in this Security Instrument.
<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 formality 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 />25. NOTICE. UWess 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 notice to all trustors.
<br />26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead .exemption rights
<br />relating to the Property.
<br />27. OTHER TERMS. If checked, the following are applicable to this Security Instrument:
<br />^ Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be
<br />reduced to a zero balance, this Security Instrument will remain in effect until released.
<br />© Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement
<br />on the Property.
<br />^ Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future
<br />and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing
<br />statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the
<br />Uniform Coaxlmercial Code.
<br />^ 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. [Check all applicable boxes]
<br />^ Condominium Rider ^ Planned Unit Development Rider ^ Other ..................................................
<br />^ Additional Terms.
<br />SIGNt~TURE6: By sigtcing-betow; 'I'rust~r agrees to the terms and eovenants contained 'in this Secarity Irlstrumeat and in any
<br />attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1.
<br />Jerry L. Denton, as Ca-Trustee and Roger Laibl, as 5uccessar Co-trustee of the K.E. Benton and Veva M. Benton Irrevocable Trust dated March 2, 1992
<br />/Y ~........, _
<br />~ /U
<br />t1ie rrY L. Denton, Co-Trustee l (Date) (Si atu Roger Loibl, SuccessarlCa•Trustee (Dace)
<br />ACKNOWLEDGMENT: n' M y
<br />STATE OF ...."! ~ I?.rat,5.~9 :........................ . COUNT OF .. !.' .1,2!'rl G I\...... .............. } ss.
<br />.....~~... . da of . .~.a....... . Q1 Q ... .
<br />.... .
<br />~`"dtv`~"a`~ This instrument was acknowledged before me thi~ .. r. y .. ...............
<br />by .r~T.f,.y...~--w..~C.ntCJ1a.~..~P.'rtrAs~t:~.........~~~rr...~,P.1~~.~..~~..NC,ceS,S~(' ....GR".r~'hS.feG,........ .
<br />My commission expires:
<br />r C~~.. cam' a .... Q r ... ~ ~i ~' ! , ~-r!L i ............................... .
<br />(Notary PuUlic)
<br />'--~/-~~M C91994 eankera Systems, Inc., St. Claud, MN Farm RE-DT-NE 1/30/2002 ~r~'~a (page 4 Of 4f
<br />TYSON D. B~NN~R
<br />Comm. 1201$
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