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�o��o��o � Unless otherwise agreed in writing, a11 insurance groceeds 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 bepa�d to the Grantor. If the Property isacquired by Beneficiary, Trustor's right to any insurancepo licies and procxeds resuIting from damage to the Property before the acquisrtion sha11 pass to Beneficiary to the extent o�the Secured Debt unmediately 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 information Beneficiary may, deem reasonably necessary. Trustor agrees to sign, del�ver, and file any additional documents or certifications that Benefic�ary ma�y 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 IlYDIVIDUAL LIABILITY? CO-5IGNERS; . SL'CCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument aze joint and individual. If Trustor signs this Security Instrument but�does not si aai evidence of debt, Trustor does so only to mortgage Trustor's interest in the Aroperiy to secure payment of the Secured�ebt and Trustor does not agree to be p�rsonally liable on the Secured Debt: � If tlus Securi'ty Instrument secures a guaranty between Beneficiary and Trustor, Trustor ees to waive any ri ts that may prevent B�nefici� from bringing any action or claim agr n y against Trustor or any party indebted under the ob igation. These 'rights �ay include, but are not limited to, an anri-deficiency or one-action laws. Trustor agrees that Beneficiary and any pa.��ty to this 5ecurity Instrument may extenc� modify or make any change in the terms of this Securi�y Instrument or any evidence of debt without Trustor's consent. Such a change will not release Trustor from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Trustor and Beneficiary. 23. APPLICABLE LAW; SEVERABII,ITY• INTERPRETATION. This Security Instrument is governed by� the laws of the � urisdiction in which Beneficiary is locatec�, e�cce�t to the extent otherwise required by� �th�e laws of the jurisdiction where the operty 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 effechve, unless that law expressly or impliedly permits the variations by written agr�ment. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singulaz shall include the plural and the plural the singulaz. The c�,ptions and headings of the sections of this Security Instrument aze for convenience only and aze not to be used to interpret or define the terms of this Se,curity Instrument. Time is of the essence in this Security Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option,.may time to time remove Trustee and appoint a successor truste� without any other formality than the designation m wnting. The successor trustee without conveyance of the Property, sha11 succeed to a11 the title, power and duties ,conferred upon Trustce by this S�ecurity Instrament and applicable law. 25. NOTICE. Unless otherwise required by law, any notice shall 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 m writing. Notice to one trustor will be d�med to be notice to a11 trustors. Z6. WAIVERS. Except to the extent prohibited by law, Trustor waives all apprai�sement and; k�omestead� exemption rights relating to the Property. 27. OTI�R TERMS. If checked, the following aze apglicable to this Security Inst��wnent: � Line of Credi� The Secured Debt includes a revolving line of credit provision. Although the Se�ured Debt may be: • reduced to a zero balance, this Security Instrument will remain in effect until released. � Constraction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. C] Fiztvre Filing. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the fiiture 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 o€ record for purposes of Article ,9 of the Uniform Commercial Code. . � 0 Riders. The covenants and agre,ements of each of the riders checked below are incorporated into and supplement and aznend the terms of this Security Instrwnent. [Che�k all applicable boxes] � Condominium Rider 0 Planned Unit Development Rider 0 Other -------------------------------- 0 Additional Terms. . SIGNATURES: By signing below, Trustor agrees to the ternis and covenants contained in this Security Instrument and in any attachments. Trustor also acknowledges receipt of a copy of this Security Insttument on the date stated on page 1. ------ ----- -- ------- �'------- = -��=(� (Si�nature LEE J NEWPOR�'� � � (Date) --- j�_ ---------- L�_1_� =11 (Signature) �&$ �'�A OR (p�) ,. ACKNOWLEDGMENT: J � cr��a�t> STATE OF _ _ ,��.1'��'�L��c.,- - - - - - - - - - - - - � COUN� OF _ - - �l_ _��,1 ss. This instrument was acknowledged before me this �� ___ da of __ } - � --- Y _��a.r_t�--o��------------ b y --��'-�- ��?'��'�'---�-�-''��e�r� . My commission eacpires: � -� ------��- - - -o� ---------------- �rromry r�t,lia> 0 1994 Woltere Kluw er Financiel Services - Benkere Syatema� Form RE-DT-NE 7 217 512 0 0 8 VMP�-C165(NE) (o�oa) ��•� � HBbf28�2 CHAD NELSON btyCom�, E�, Se�.18 Z014 (page 4 of 4) ' 894/CN/f�Il�TH 456847