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201103987 � D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any pending or threatened investigarion, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Environmental Law. 12. ESCROW FOR TAI�S 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. 13. JOTNT AND INDIVIDUAL LTABILITY; C�-5IGNERS; AND A5SIGNS BOUND. All duties under this Security Instrument are joint and indivrdual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Trustor does so only ta mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be personally hable, on the Secured Debt. If this Security Tnstrulnent secures a guaranty between Beneficiary and Trustor, Trustor agrees to wa�ve any rights that may prevent Beneficiary from bringing any action or claim against Trustor or any �arty indebied under the obligation. These rights may include, but are not limited to, any anti-deficienc y' or one-action laws. 'I'ha duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Trustor and Seneficiary. 14. SEYERABII.ITY; INTERPRETATION. This Security Instrument is complete and fully integrated. TYus 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 effective, unless that law expressly or impliedly �ermits the variations by .written agreement If any section of this Security Instrument cannot be enforced accarding to its terins, that section will be severed and will not affect the enforceability of t�e remainder of this Security 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 mterpret or define the terms of this Security Instrument. Tune is of the essence in tt�is Security Instn►ment. I5. SUCCESSOR TRUSTEE. Bene�iciary, at Beneficiary 's option, , may , from time to time remove Trustee and appoint a successor trustee without any other formality than the designation m 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 the appropriate party's address on page 1�f this Security Instrument, or to any other address designated in writing. Notice to one trustor unll be deemed to be notice to all trustors. 17. WAIVERS. Except to the extent proYubited by law, Trustor waives all appra.isement and homestead exemption rights relat'vag to the Property, 18. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. 19. APPLICABLE LAW. This Security Instrument is govemed by the laws as agreed to in the Secured Debt, except to the extent required by the laws of the jurisdiction where the Properiy is located, and applicable federal laws and regulations. 20. RIDER.S. The covenants and agreements of each of the riders checked below are incorparated into and supplement and amend the tarms of this Security Instrument. [Check all applicable boxes] ❑ Assignment of I.eases and Rents ❑ Other .............................. .............................................................. . 21. ❑ CONSTRUCTION LOAN. This Security Ynstrument is a construction securiry interest which secures an obligation incurred for the construction of an improvement on the Property. ZZ. ❑ ADDITIONAL TERMS. STGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Inst�izment and in any attachments. Trustor also aclanowledges receipt of a copy of this Security Instrument on the date stated on page 1. .��......�.� .............................. �.��,,�. .......................................................................... ignature) (Date} (Signature) (Date) Juan Caballero ACKNOWLEDGMEN i': ` �. STATE OF ......�11.e. ......................... COUNTY OF ...�� .4....................................... } ss. c��ria�,� This instru��t was acla►owledged befoxe me this ...t':1,.�..... day of ....1rr.�a.�... ........................ by. . . ... . . . . . rt.e��„ . . . .. �.�-�°. .�.la�i ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .... . . ... . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . My commission expiras: `�\`�,, � ....��...�••••�'�`+M,n� .............................. (Notary Public) ��A• �': ;.'°---...'� _ :i;i RR S� B aar3 � p 1994 Bankars Sysiams, Inq., St, Cloud, MN Form OCP-REDT-NE 1/31 /2003 (page 4 of 4J