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<br /> L. Notwithstanding anY of the lan8uage contained in this D�ed of Tnut to the conuary.the terms of this section shail
<br /> � _ survive any foreclosure or satisfactioa of this Deed of Tn�st regasdless of anY P�aBe'����to Benefciary or aay ,
<br /> disposition by Heneficiary of any or aU of ihe Praperty.:4sey clai�s a�d aQfenses to the c:onuary are hereby waived.
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<br /> , t 20.CONDEMNATIOI�J.Tnutor will give Beneficiazy pmraRt ttorice of an��tion.real or�azened.by private or publ'u � .
<br /> ' entities to pus�hase or take any or all of�he Property,including any e�m��s.�°u8h COA�on.eminent domain. , .
<br /> or any other means.Tcustor fiuther agrees to notify Beneficiary of anY P�o�ed�n,F����fOr the establishment of azry
<br /> •; sewer.water. conservation. ditch.drainage,or other district relating to or bindwg upon the Property or any part of it. �.,
<br /> Tn�stor authorizes Beneficiary to intervene in TTUStor's mm�e in any of ttn�aboYe described acxions or claims and w collect
<br /> and receive all suu�s resultin8 from the actlon or claim.T�ustor assigrs to Ben�ficiary the prnoeeds of any����be
<br /> for damages connected with a condemnatiion or other�alcing of aIl or any part of the Property. Such p � .
<br /> considered paynaents and w�l be applied as pmvided iir this Deed of Trust.This assegnmeat:of proceeds is subject ro the
<br /> ' � terms of any prior secvtiry agceement•
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<br /> _� 21.INSURANCE.Tzustor agrees to maintain insurance as fnUoas: j � .
<br /> A. Trnstor shal!keep the Property insured against toss by ti�e,the�i am�other haza�ds aird risks cease-*�ably associated :
<br /> � :..,.1 arith the Property dne to its type and lacation.()ther hazards an3 tasts may include,€ar exaa�g�e.coverage�st :
<br /> m ihe amvnnts and for the per�c�s t�at ;
<br /> . . �.,, loss due to floods or flcau�ng. 'IBis ins�uance sIealt be maintain�d '
<br /> `;`'�'S Beneficia�y requires. '�"ne insivance cairier providi�g thc imwance shall be chosen by Trnstar sr.�rm� w .
<br /> .�. '-Y�� Seneficiars's approval. afiich shall not Ue umrasonaSlY with�eld. If Tmstor fa�7s to maintain the �:�age
<br /> � cesedbe3 z�or�.Beaeficiary may, at�eficiarJ►'s oPtion,o�.2in coverage to protect Benefrciary's rights in the �, _
<br /> , -.� g�perty�nding ta the tesms of this De�d of Trast. `����� ..
<br /> . ' i AIl ;*+�+,rance policies and renewals sha11 be accepta6le to Bers.°.ficiary aBd �?I�imcIude a standard "mongage ,. ,. �.;:,;_
<br /> . clause" and, where applicable, "benEfcia�Y loss payee ciause.' T�u..�or sh�l ma�iateIy aotify Benefciary of :�r•.._ ,
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<br /> ` canceilation or termination of the in�.�caace. Ben�ficiery shall Le��=right to kold the po'.�.�and renewals. If :., . -.�'�-;�,� :
<br /> ; Beneftciary tequires, Trostor shall immaediately �iva to B�efi�c3 all receipIS.af paid g.�um5 and reuewal i^•':;ir.�� •..:�'.•".
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<br /> � j norices. U��n loss.Trustor shaU give unmediate netice to the insurance carrier aad Beaeficiary. Benefcciary may 'r'%` �';,,
<br /> � � malce proof of loss if not made immediazely by Tn�swr. ; � - '�y' -
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<br /> rooeeds shall be a lied to restoration or ��'���`�
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<br /> � . • Unless Beneficiary and 3`rastor otherwise agree in writing, insuta�s�e P PP E �,, �'r.
<br /> ' - • repair of the ProP�Y�S�if the restorauon or repair is ecor�mically feasible and Beneficiary's security is not t. ..;j:��;��,
<br /> lessened. If the r�stosation or repair is not econamicaUy feasible or BQneficiary's secur►ty would be lessened. the i . ;'� ':-.'
<br /> . . insurance proceeds shall 6e applled to ttie Secured Debi,aheth�er or nni then due;witIs any excess paid to Tmstor. - '._����4i ;
<br /> If Tn�stor abandons the�roperEY. or daes not answer witttin 34 days a aotice from 8enefrciary that the insurance .. r?;:�r=:
<br /> � �`,::�:,;� cairier has offered to szttle a claim.then BeneficiazY may coltea the insur�ucce g:oceeds. Benef�ciary may use the •>:l�f'�;���.,
<br /> � procceds w repair or restore the Prop�ray or to pnq the Secured Debt whaher o:aot then due.The 30�day period - . , "�''r�,�"`"_
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<br /> , will begia a•hen the notice is given. ''• ,::
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<br /> Unless Benefieiary and Trttsior othercvise agree in writing,any application of procceds to prineipal sha11 not estectd ` : � : •�'
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<br /> - or postpone the due date of scheduled payments or change the amonnt of the paya�ents.if We Property is acquired ' . _:'<'r:
<br /> by Beneficiary,Tmswr's right w any insurauce palicies and prooeeds resvltinS from damage to the Property before _-��.�
<br /> . the acquisiuon shall pass to Beneticiary to the extem of the Secured Debt immediately befare the acquisition. . .; ,
<br /> � B. Trustor agrees to maintain camprehensive general liubility ins�namin8 Beneficiary as aa additianal insured in , ` `.�. .
<br /> . � an amonnt acceptable to Beneficiary, i�suring againsc elaims ar�sing fmm any accident or ec�.*rence ia or on the , .:'-`
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<br /> C. Tn stor agrees to maintau►rental loss or business interrupdon insuiaace.as reqcired by Beneficiary,in an amount , r, ,.._.
<br />., equal to at least coverage of one year's debt serviec.aad required escYOw accfl�:.�deposits(if agreed to se{�zTately ;..�.r,,`9'
<br /> , in wrinng),under a form of policy acceptable to Bencficiary. :;;;:,;.;_
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<br /> 22.NO FSCR0�2i�'�DR TAXES AND II�iStJRANCE.Unless othera+ise p:osi�•�I in a separate agreement, Tnutar ai;l zQt , . , ...
<br /> . , be required w pay to Beneficiary fnnds for taxes and insurance in escro7+. : .;�,-;;;.
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<br /> � . Z3,FQipNCIpL REPORTS AND ADDITIONAL DOCUIV�NTS.Trw'tor will pro�zd:to Benefcciary upon reQa:_�, �ny �
<br /> financial statement or information Beneficiary may deem aecessary. Tnutor warraats that all financial state:�u and �
<br /> information Trustor provides to Beneficiary are. or will be, accura*.s. oonect. aud wmplete. Tnutor agrees to sign, �� . ,
<br /> deliver. and file as Beneficiary may reasonably request any additional d�c�ments or certificatio�that Benefcciary may i . � . . �
<br /> consider necessary to perfect,continue,and presenre Tnsstor's obligatis��a�nder this Deed of Tmst aad Beneficiary's tien i
<br />- status on the Property.If Trostor fails to do so.Benefcc�ary may,siSn.d�llver,and�.:�:such documents or certificates in :',;";;.s�,,
<br /> � 'i'rustor•s name and Trustor hereby lnevocably appoinu Henefic�ary ol8aneficiary's agent as attomey in fact to do the •;..,,
<br /> . ' � thiugs necessary to wmply with this section. .
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<br />'.:�; ?.4.JOIlVT AND D�1DIVIDUAI.LIABII.ITY;CO-SIGIVERS;SUCCFSSiDRS AND ASSIGNS BOUND. A11 dnties under
<br /> this Aeed of Tmst are joint and individual. If Tmstor signs this Deed of Trust but�ces not sign the Evidence of Debt,
<br /> � T'-:�.or does so only to mo:tga�t Trustor's interest in t�ae T?toperty to secure payraesc of the 5ecured Debt and Tmstor •
<br />';'' . . . : �xs:•�t agree to be person_S➢y i��ble on the Secured De'�c.Trustor agxces that Beneficiary and any party to thes Deed of
<br /> � Tr�st may exte�d, modify or make any cUange in the terrt�s of this Dced of Trust or the Evidence of Debt without
<br /> Trustor's cons�t. Snch a change will not r�:ease Trustor from the term3 of this IIeed of Trust. The duties and benefits of i
<br /> - ' � .. ' , •.ss Deed of Trnst sha11 bind a�d benefit the successors and assigns of Ttustor and Ber.eficiary.
<br /> � Fti clus Deed of Trust secures a guaranty between Benefciary and Trustor and does�:cc�:rec:tly seeure the obligation which E '
<br /> . s 6�atantied.Trustor agrces to waive any rights that ma.s�prevent B�taeficiary fiom Ceinging anY action or claun against
<br /> • Trustor or any party indebted under the obligation includ�g,but not limited to.anri-deficiency or one-action laws. � • �
<br /> t 1S.APPLICABLE LAW; 5EVEltAHILITY; IIVTERPRETATIOPi. 'l�is Deed of Trnst is governed by the laws of the ! •
<br /> � jurisdiction in which Beneflciary is located.except to the extent otheiwise require�by the laws of the jurisdictioa where � �
<br /> the Property is located.This Deed of Tnut is complete and fully 9ntegrated.'Ihis Deed of Trust may not be amended or
<br /> �, � modified by oral agreement. My section ar clause in this Deed of TTUSt. attachments, or any agreement related to the
<br /> �;• , Secured Debs that conflicts with appllcable law wj11 not be effective.nnless ihat law expressly or impliedly pemiits the
<br /> � variations by written agteement. If any sect4on or clause of this Deed of Trust cannot b=enforced according to its teans. .
<br /> + that section or clause will be severod and will not affect the enforceabiiity of the remainder of this Deed of Trust. .
<br /> i Whenever used,the singular shall include the plwal and the plural the singular.The captions and headings of the sections
<br /> 'i.� � of this Ueed of Tntst are for oonvenience only and are nat to be used to interpret or defirte the terms��i'�6'f Ttust.
<br /> Time is of the essence in this Deed of Tivst. cago s a�6
<br /> ' �� x�1993 Baneo�e Svstom�.�nc.St Claud.MN��80639��23471 Fan A(irCO DT�NE 9/13�96 �— S
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