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<br /> L. Nutwithstnndin�uny of thc lanQuo�e wntnin��d in this Dec�d of'Trust to tlte s;ontrnry,t'��e tnr.ns of thio rcctlon el�all � -
<br /> dia i sldon b�Reneflcin�rnftnnnar ali f thc Propcny.rAny clnfnslnnd defcnses to tl c c ntrnry nre licrchy waiv�cf ~
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<br /> Z0.CONDEMNATI(DN.Tnistor will givc Dcnoficinry prompt noticc of n��y c�ction, rcal ur thrcntencd, by privntc or public '
<br /> entides to purchnse or talce ony nr nll of tlte Property,Including �ny casemcnts, through condemnntion, eniincnt domain,
<br /> ' or any other meann. 'l'tttetor turther ag�er,s w uutify &n�ficiary of:uiy procc,:din�s lnsdtuted f�r ttie estnbNehment of uny .
<br /> . � sewer. water, cons�rvatfon, ditch, drainage, or otlier distdct relaUng to ar bindinB upon the Property or nny part of it.
<br /> Trustor suthorizes Bene�eiary to intervene in Trustat's nnme in any of the above described actions ar clnims nnd to collect
<br /> and receive cill sum9 resulting fram the nction or clnim.Trustor nssigns to Heneficiury che proceeds of nny mvnrd or clnim
<br /> 1 for damages connr,eted with n condemnntion ar otl�er ta3cing of ell or a��y purt of the Property. Such pmceede shnll 6e
<br /> considered pnyinrent�and will he applied as providt:d fa thls Deecl of Trust. Thls assigntnent of proceeds is subject to tlie ^
<br /> term.s of uny prior secusity oBreerr�ent•
<br /> 21.1NSiTlLANCE.T�vator ogrees ta maints►in insurance a�follows: � •_
<br /> A. Trustor shall keep the Property insured vBain�t loss by firc,theft and other hezards and risks masonably nssceiuted ,.�;, ..
<br /> with die Praperty due to Its type and loeation.Otl►er hazards and rusks may include, for exam�le,cc�verage agaiast ,;�;;;?.sa�
<br /> loss due to fl�ds or flooding. ThiE insurance shall be maintnined ta die nnwunts and for the �riods tPiat � qy-�-,,._,.
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<br /> Beneficiory requlns• "The insurance cturdsr providing the insurance shaU 6e chosen by Trustor subject to _ ; _
<br /> Beneficituy's approval, which shall not 6� unr+easonably witiil�eld. If Tnistor fttils to maintain tlte wverage , �-._-��-1
<br /> describcd atsovc. Bsneficiary may, nt Bc;n�fir,lary's option, obtain coverage to protect Heneficiary's rights W the . ;_�
<br /> � Peoperty according to the termg of thle Dced of Trust. �°`�t=.
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<br /> All insurturce policies and reaewsilF shnU be acceptable to Beueficiary and sball include a stauderd "mortgage � —_
<br /> clause" and, where applicable, "beneficinry loss payee cluuse." Trustor shall immediately notify Deneficir�ry of •��
<br /> cAncellation or temiinadon of tlie insivanc�. @eneficiary shall have the right t�hold the policies and rene�vat�. If ?��;, -
<br /> � Beneficiary requires� Tn�stor sh�ll immodintely give [o Beneficiary all receipts of paid premiums and renew�l
<br /> � � notices. Upon loss,'1Yustor shall give imme�dinte notice to the iasutance carrier and Beneficiary. Beneficiary may
<br /> �,.; make prwf of lacs if not made Lnmedlntely by Trustor. ,y •
<br /> � � Unless &neficiary and Trustor otUerwie�e ��ree in writing, insurance proceeds shall be applied to restoradon or ��
<br /> s` repair of the Peoperty damaged if the restoration or repair is econoTnically feasible and Beneficiary's security is not ; i.,
<br /> �' ! lessenr.d. If the restoration or rep�ir is not economically feasible or Beneficlary's securlty wauld be lessened, the ,,�,,, .
<br /> - - - = insurance procoeds snaii be apptied iu ii,a�a;ui�^.��t,•ahesh�r oz no:i�x�!��e,�yith any excess paid to Trustor.
<br /> If Truator abandons the Property, or does nat answer withia 30 days a notice from BeneficiFUy that the ins►�rance �, •
<br /> • •, carriee has offered to setde a claun, t�en&�eneficiary mny collect the insvrance proceeds• Beneficiary may nse the .
<br /> � paoceeds ta repait or restore the FmpeTx;r or to pay the Secured Betet whether or not then due.The 3U-day period
<br /> will be�in when the notice is given.
<br /> ' Unless Bear.6ciary and Tkustar othetwiee agtee in wz;�tu►S.attY aPPl��an of prooaeds to principal shall aot extencl
<br /> _ �� or postpone the due date of scheduled pny�meatr or c�ange the�ucwunt of the payments. If the Property is acyuired •.
<br /> � by Beaeficiary.Trustor's right to uay insurana policies and prnceeds resultinS from damage to the Property before i
<br /> ��. ths acquIaition shall pass to Beneficiary to the sa•.eat of the Secured Debt immediately before the acquisitfon.
<br /> B. Tnustor aIIrees to maintain compmhensive�eaer�il liability insuraace naming Beneficiary as un additioaal insured in _
<br /> •��•v. an amount acceptable to Eeneficit�y, insuring against claims arlsing from any s�ccident or occurreace in or on ths
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<br /> � `'.'�. C. Ttuator egrees to maintain renttill loss or Uusiness intem►ption insurance. as re9uirtd by Beneficinry,in aa amount �_
<br /> � � � equnl to nt least coverage of one year's debt service. and required escrow nccount deposits(if agreed to separaiely
<br /> • � in writing),uader a form of policy aoor,otnble to Beneficiary. ---
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<br />_ �` ;'" ,r,.�?; 2Z.Nm ESCROW FOR TAXFS AND 11V3[J1L�APICE.Umless otherwise provided in a separate agrcement. Trustor will not - -
<br /> ����..•;,, � be requtrcd to pay to Beneficia��funds far tn�es and insur�nce in escrow. _______
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<br />-� �• 23.FiNAPiCIAL REI'URTS AND AbDI'I7�PIl��, �IOC�JB'IENTS•Tcustc�r will provide to BeneRciary upon request. any ___— —
<br />- 8nuncinl statemcnt or infor�ation Benefici�y may deem necessnry. Trustor waaanta that all �nancial ststtements and _
<br />_ �► infomu►tzon T�uator providrs to Benefici� are. or �sill be, accurate, correct, and conaplete. Tntstor agrees to sign, ��____ _
<br /> • deliver, and file as Beneficin�� may ru�sonnbly request any additional documents or certi�icatlons that Beneftc9nr+,/ may ��'r'_ �:,
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<br /> conni der nece s s a r y t o p e r f e c t,o o�t i n u e,a n d p r e s e rv e T r u s�o r's o b l i g a ti o n s u nder this�eed of Trust and Beneficiary's lien ��:",:
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<br />- • statuo on the Property. If Trustor fails to do�, Beaef"iciary may sign,deliver, And flle such documents or cert3flcates in - •,:-,;,,�....,•.,,�".
<br />�. • Tnwtor's rmme�d Truetor liereby irrevmcabty appoints Beneficiary or Heneficiary's agent as attomey in fact to do the ....._. `. �,�:,�,,:�;�;•`
<br /> • dungo necessary to cotnply with this section. • �• -� -
<br /> . ?�6,dmIIN'd'A1VD WDIVIDUAE.LIABQ,ITY;C0.SIGNE�ffi; SIJCCESSORS AND ASSIGNS BOUND. All duties under : � •
<br /> . thic� Deed of Tnxst az�e joint and individuN. If Trusto�signs this Deed of Trust but does not si�n the Evidence of Debt,
<br /> Ttustor does so anly to mortgage'IYustor's interest in ihe Property to secure paycnent of the Secured Debt and Trustor
<br />= does not agree to be personnlly liable on the Secured Debt. Tcusror agrees that 8eneficiary and any party to this Deed of �
<br /> Truat m:ny extend. modify or mitke any ch�nge in tlie ter�as of this Deed of'Ctvst or die Bvidence. of Debt witliout , ,
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<br /> Trustor's consent.S�ch a chznge will not release Tmstor from the terms of this Deed of'Civst. 1he duties and benefits of
<br /> th�s Deed of Tcust shnll biad a�d benefit die successors and assigns of Trustor and Heneficiary.
<br /> . If thta Deed of Tzust secur.s a guarunty bt�veEn Beuefciary and Trustor and does not directly secure the obligation which
<br /> ±' _._ _ ic +�+��*�ntied.Tn�ctor aerees to waive any riIIhts that may prevent Beneficiary from bringing any astion or claim against
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<br />-° Tru�tor or any party indehtcd under dte obli�ntion including,but not i�mited to,anu-defuiency or one-uai,ou�awn. — - -
<br />� � 25.Ak"PH.ICAIiLE LAW; SEVERAB�.ITY; 11NCERPYtETATION. 'Iliis Ueerl of Trust is governed by the laws of the ;
<br /> _ � jut�csdiction in wbich BQneficiary is located, except[o the extent othenvise required by the la�vs of the judsdiction where
<br /> _ i the Property is locnted.T�is Decd of Trust is comple:e and fully integrated.This Deed of Trust may not be amended or
<br /> _ I modffced hy oral age+eemcnt. Any section or cluuse in�his Dc�ed of Trust, attachments, or any agreement related to the �
<br /> Securcd Debt that conflicts with applicable la�v will not be effecave, uailess that law eapressly or impliedly permits ehe i
<br /> I variatioafl by�vritten agreement. If nny section or cla�se of this Deed of Trust cannot be enforced accosding ro�ts terms. C
<br /> that section or claucE �vill be severed and will not affect the enforccability of the remainder of diis Deed of Trust.
<br /> j Whenever usa1, the singular sh�ll include the plural:and the pinrd the singular.The captions and headings of the sections l
<br />�" of thia Dcal uf Trust am for convenience only and are not to be used to interpret or defir�e the terms of3hig�k.�d of Trust. �
<br />— � Timc is of tltc essencc in this Dced of Tn►st. a � �
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<br /> � 9 1997 Ou�Rert Svstcm9,:nt..St Goud.��N It L00 397 23411 Fpm AG!CO OtJ:E 9/t]NO . �
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