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� . !�' '� i� �� 1� 't Unless otherwise agreed in writing, all insurance proceeds 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 paymenC nor change the amount of any payment. Any excess will be paid to the Grantor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not h� required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDTITONAL DOCUMENTS. TrusCor will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably necessary. Trustor agre�s to sign, deliver, and file any additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this 5ecurity Instrument and Bene�iciazy's lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITI'; CO-SIGNERS; 5UCCESSORS AND ASSIGNS BOIJND. All duties under this Security Instrument are joint and individual. If Trustor signs this 5ecurity Instrument but does not sign an evidence of debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to h� personally liable on the 5ecured Debt. If this 5ecurity Instrument secures a guaranty between Ben�ficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneffciary from bringing any action or claim against Trustor or any party indebted under the obligation. These righ�s may include, but are not limited to, any anti-deficiency or one-action laws. Trustor agrees that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debC 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; SEVERABILITY; IN'1'ERPRETATION. This Security Instrument is govemed by the laws of the jurisdiction in which Beneficiary is locateti, except to the extent otheravise required by the laws of the jurisdiction where the Property is located. Tlus 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 effective, unless that law expressly or impliedly permits the variations by written agreement. 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 singular shall include the plural and the plural the singular. The captions and headings of the se�tions of this Security Instrument are for convenience only and aze not to be us� to interpret or define the terms of this Securiry Insmzment. Time is of the essence in this Security Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and app�int a successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of the Property, shall suc�eed to all the title, power and duties confened upon Trustee by this Securiry Instrument 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 5ecurity Instrument, or to any other address designated in writing. Notic� to one trustor will be deemed to be notice to all trustors. 26. WAIVER5. Except to the extent prohibited by law, Trustor waives a11 appraisement and homestead exemption rights relating to the Property. 27. 01'I3ER TERMS. If checked, the following are applicable to this Security Instrument: ❑ Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zera balance, this Security Instrument will remain in effect until released. � Construction Losn. This Security Instrument secures an obligation incuned for the construction of an improvement on the Property. ❑ Fixture Filing. Trustor grants to Beneficiary a securiry interest in all goods that Grantor awns now or in the future and that are or will become fvctures zelat� to the Property. This Security Instrument suffices as a financing statement and any carhon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Comcnercial Code. ❑ 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 boxes] ❑ Condominium Rider ❑ Planned Unit Development Rider O Other .................................................. L Additional Terms. SIGNATURES: By signing 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. ...�. ...........................��i8�a.� ............................................................................ (Signature) Luke G. Hulme (Date) (Signature) tp�� ACKNOWLEDGMENT: STATE OF lUeh�aska ....................................... COUNTY OF JNerdck. ..... .. .} ss. ............................. . . ..... �'�'�' This instrument was acknowledged before me this ... ... ..l9th........ day of ............ ........MaY .2091.................... by l�uk.e. �,.Hulma. A Si�nla P.a�san. ... ... ... ... ... ... ... ... ... ... ...... ... ...... ... ............ ... ... ...... ... ... ... ... .. . ............ .. My c i Y• SYate af idebreska �� _ SHAWN C�. HANQUtST ---�.. �py Comm. Exp. May 25, 2014 . .. . �o� r�,nu�j . .. ... .. . ... . .. ... ... ... .. . . .. . . Shawn G. Hanquist Fj(��"' OO 7 994 Benkers Syatem&, Inc., St. Cloud, MN Form RE-DT-NE 1130/2002 Ipage 4 of 41 �