201104332 - Laserfiche WebLink

Browse

241104332 20. 21. 22. 23. 24. 25. 26. 27. Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Properiy or to the Secured Debt, whether or not then due, at Beneficiary's option. Any applica.tion of proceeds to principal sha11 not extend or postpone the due date of the scheduled payment 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 Properiy before the acquisition sha11 pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition. ESCROW FOR TAXES AND INSURA.NCE. Unless otherwise provided in a separate agreement, Ttustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. ` FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any fina.ncial statement or informa.tion Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional documents or certifications tha.t Beneficiary may consider necessary to perfect, continue, and presetve Grantor's obligations under this Security Instrument and Beneficia.ry's lien status on the Properiy. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSOR5 AND ASSIGNS BOiJND. All duties under this Securiry Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Trustor does so only to mortgage Trustbr's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. If this Securiry Instrument secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficia from,bringin� any action or claim against Trustor or any pariy indebted under the obligation. These rights may include, but are ndt limited to, any aati-deficiency or one-action laws. Trustor agrees that Beneficiary and any pariy to this Securiry Instrument may extend, modify or make any change in the terms of this Security 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 sha11 bind and benefit the successors and assigns of Trustor and Beneficiary. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Properiy 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 Securiry Instrument, attachments, or any agreement related to the Secured Debt thaY 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 sha11 include the plutal 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 interpcet or define the terms of this Secutity Instrument. Time is of the essence in this Security Instrument. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Ttustee and appoint a successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of the Properiy, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and applicable law. 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 designaxed in writing. Notice to one trustor will be deemed to be notice to all trustors. W.�IVEILS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights relating to the Property. OTHER 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 zero balance, this Security Instrument will remain in effect until released. ❑ Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. ❑ Fixture Filing. Trustor grants to Beaeficiary a security interest in a11 goods that Grantor owns now or in the future 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 of record for purposes of Article 9 of the Uniform Commercial Code. ❑ Riders. The covenants and agreements of each of the riders checked below are incorporated amend the terms of this Security Instrument. [Check a11 applicable boxes] 0 Condominium Rider ❑ Planned Unit Development Rider ❑ Othet ................... ❑ Additional Terms. into and supplement and SYGNATiTItES: By signing below, Trustor agrees to the terms and covenants coatained in this Security InstrumenC and in any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. . . .l'.�:�,�� . . . . . . . . . . . . . �. : :� . :�� . . . . .. . ... ... . .... c� � (Signa e) Karen M. Neppl a� .,�� ................�.. ��'.�...-��...��.�.. f . (Signature) Howard L Schmitt (D�) ACBNOWLEDGMENT: STATE OF NQ4caska ...................................... . COiJNTY OF 1Nercick................................ .............} ss. �'"' This instrument was acknowledged before me this .. .. .....3td . . . . . ... day of ... . . . . . . . . . . . . . .. . J.une,.201.1. . . . . . . . . . . . . . . . . ... by Ka��enM..N�eAA�:H4uuard.l..SFhmi�ttiH.uskand�JNif.� .................................................................:.................... . My commission expires: 09-12•2012 ............................................................................. (Notary Pnbflc) Tyson D. Benrrer � OO 1994 Bankers Syrtems, Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002 /page 4 of 41