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<br /> ` `.` r ` L. Notwithst�din�aaY of the langtaage contained in this Ueed of T'tust w the conttary.the te�a�s of tLis sertioa sLall . '..:�;�.•:�.:� .-<..,
<br /> ` � survive any fot�closure or sasL�aaxion of tbis IIe�of Tn�st regardte�s of any passage of title to Benefici�ry or sny .. , 7��.� .�i
<br /> .c, '` <: of an or all of the Pro An clsims aad defenses w the oo are hereb ="� �
<br /> disposidoa by BeneHciary y p�Y• Y n�i+ y.aaived. ;,.�.
<br /> � � 1A.CONDEI1�II�tATION.'hustor aW give Benefdary pmmpt notice af su3r action,real or tbreaten�,by private or pi�ouc —
<br /> � ° � .' . `,�
<br /> :`��� ��� entides ta putchase or take anY or afl of the Prapert�+,iacludinS any eas�ents.Wmugt►condemaatFon.emmeot domam. , �
<br /> _<,. IIot�► gc�Y of aay pmoealings instituted for the establishme�t of aay
<br /> ` . . ,;., oi any ather meana.Trastor furtfier agrees to Beae
<br /> - sew�r,water.conse�r►ai�on,ditch. drainage.oF other district relating w or bindiag upon the propertY or aay part of it. c ° _
<br /> �-�; Trastor a�OS�s B ' 4� �in any of the aDove descabed aaians or claims and to collect ° :
<br /> ", and zecetve a2I sums f������ TmsWr assigns tn BeneSciary the pmceeds of any award or�a�n �y:, y '
<br /> ' '�; f o r d a m a g e s w v�th�a tf�tr�mar.�fi tsking o f a ll or a�r p a rt o f t h e P r o p e i t Y• S�c h P m c e�d s s h a ll be �:�;' ,� .,�.:
<br /> ` . considered a t 4 i A'E3�a�'��dert this D e e d o f T m s t.'i T�i s assi g n m e a t o f p r a ce e d s i s s n b j e�i w t h e s_. _
<br /> ``.. ' <}. terms of auy p�� 8�r� .... T ���
<br /> � 21.INSIJRANCE.'I'mstor agtee.a to�amt�iAs�as follows: J..L =_-
<br /> :.; � � :
<br /> � , ` .: A. Tn�swr shall k e e p tI�Fropeny iasured agatnst loss by�ne.theft and other ha�+ds aad�ieasonably assaciat�d � ,_
<br /> ; �. „,,�: arith�PmpectS►due to its type�d la c�i o n.O t het H a z a�d s�t d n u k a m a y i n e l u d s.f o r e s a m p l e,o o v e t a g e a g a i n s c �,--��
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<br /> � toss due to ttoods ar flooding: �is Insurance sha11 bthe insuiance shall be c�osea�byf Tnistor subj�t w r =.�—",�..Y-.
<br /> ` g��9 �. 'ihe insaiance rdrrier pmvidimg ,. --
<br /> � Beneficiary's �pmval. which shall not be unr�sunably withheld. If Tmstar fa�s to maiutam the covesage �- _ --
<br /> ; descn'bed above,Beaeficiary maY, at Beneficiaz9's optinn,obtain wveiage to pmtect Eeneficiary's rights ia tl�e �,,�_��= --
<br /> ::,� ; ° � proPertp according Lo the tern�.s of this DePd of Tmst. �;;-___...
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<br /> All insuraace policies aad r�ewals shall be acceprdbte ta Benefciary azcd shail include a standard "mortSaSe �-' �
<br /> clause° and. whete aPPlicable, "beneficiaiy loss gayee clause." Trustor sbaU i�d'iately notifY Benefic�Y °f =
<br /> E _- ._, :..:�- canceUatioa or termInatioa of the instuance.Benefciary shall have the right to hoid the policies and renewals.If �� '-
<br /> �., ;.:'. BeneSciarq �1�• Tiusia�r s1�all immediately give m BeneFciarS► all r�e�PLS of paid preminms and reaewal _
<br /> �^,.: notices.Upon loss,Tmstor shall give immediate notice to the insarance c�cer aad Beaeficcazy. �eB�iazY�Y �:::, - -
<br /> � ^r. make pmof of loss if not�ade�ately by Tiustor. __ _
<br /> ' �,. J' U n l e s s B e�e fi c i a ry a a d T r a s t or othQCwise a g r e e ia writittg, iasurance Proceeds sball be applied w restorarion or �' `�`
<br /> e f e a�l e an d B e n e f i c I a i Y's s e e u r I i s n o t � . I '' .
<br /> � .�� �' r�air of ttce proPertY d�ge�if the restoratton or repair is ecaa o m i c a l l y t Y � . T
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<br />� :;:.s?�. lessened. If the ratoradon or ts�pair Is not econamically feasible or Beneficiary's security would be lesseued,the , ,,— : --
<br />- � . ..A'.'. insurance proceeds shall be agplied to the Secured Debt,wh�er or not then dne,with any excess paid to T'tastor. -_
<br /> ..' :,'.�' If'Trustor a6aadons the Property,or does aot answer aithia 3Q days a notice from Beaeficiary that the insarance �,:. ___--
<br /> ' cazrier has offered to seWe a claim.then Beneficiary may wllect the insorance prnc�eds.BenefciaiY maY use the : ��__..
<br /> pmceeds w repalr or reswre the propertp or to pay thc Secured Debt whether or not then due.The 34day perlad .�, __—
<br />- . . will begin when the notice is given. :''�, ��-
<br /> " Unless Beneficiuy and Trustor oWecvviss agcee in writing,aay applicadon of proe.eeds W prIacipal shall not e�tend ��,.� '.�
<br /> . ',�, _ . �r poy�tpone the due date of scheduled payments or chaage the a�now►i of the paymeats.If the Prape�ty u acqnired .;.�.,._ .-
<br /> � by HeaeficiarY,Tnistor's dght to auy iasurance polisies and prace�ds resvltiug from dama�e to the Fropeny beforc _.:F� ',;.._
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<br /> - �he a c q u isittoa shall pass to Beaeficiary to the excent of the Secured Debt izamediately before the a c q u i s i t ian• . . . :__-
<br /> . . ' , `�.�I B. Trustor ag�ees w maiatain comprehensive general liabiliry insurance nam�ng Bene�ciary as aa s d d i t to n a l i fl s u r e d i n • „
<br /> �. . • � aa amount acceptable to BenetIciary,iasuring against claims arising from any accident or occurrence in or on the �,�'
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<br /> � C. Tr�i toi agrees tp maintain rentai loss or bnsiness intercupttoa insurance,as requ�red by Beneffciazy,in an amount . , ��
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<br /> - ._' � .. eqtial to at least eoverage of one year's debt secvice,and required escrow accownt deposita(if agreed to separately '.,.;:,_
<br /> = ia writing),under a forin of policy acceptable to Benefrciary. �:�,•.-.-_,,.:
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<br /> Z2.NO ESCROW FOR TAXX�S AND INSURANC6.UnIess otherwise pmvtded in a sep�ate agreement.Ttustor w�l not ° _.
<br /> � " be required to pay to Beneficiary fuads for taxes and insurance in escrow. ,. ; .--
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<br />,+i 23.F[NANCYAL REpORTS AND ADDIT'IONAL DOCiTMENTS.Trustor will provIde W BeneSciary upon reqaest, aay --`: '� .l-�--
<br /> - ;. . firmncial statement or informatian Beneficiary may dcem necessarY. Tmstor warrants that all financial statements aad . ;__ _
<br /> � . � ' information Trustor provtdes to Beneficiary are, or will be. accvrate, conect, and complete. Trustor agcees to sign, �;. "
<br /> ' ' deliver, aad fi2e as Eenef ciary may reasonably request aay additional documents or certlfieations that Beaef ciary may _ �_A,�_
<br /> � • � consider necessary to perfect.wntinue,and preserve Tmstos's obligations under this Deed of Trust and Beneficiary's lien .._ _
<br /> ' . . status oa the Property.lf Tmstor faila w do so,Beneficiary may sign.defiver.and fite sucL documents or certiflcates in °:--��-�-
<br />".� ; � . Trastor's name and Tn�star hereby irrevocablY appoints Benefsciary or Beneficiary's agent as attomey in fact to do the � ': „
<br /> thinp,s ner�ssarY to eomply with this section. . � . .
<br /> �`'� � � _ za.JOINT AND IIVDIVIDUAL LI�BILITY;casi�r�RS;svccESSO�s arm a�s�cNS souivn.�i aoa�,�a� . ._ .-
<br /> tbis Beed of Trust are joint and individual. If Ttustor signs tbis�eed of Tmst but does not sign the Evldence of Deb� ,. ,
<br /> ° ' Tn�stor does so only to mortgage Trustor's lnterest in the Ptoperty to sectue paymeat of the 5ecum�Debi and Trustar � •. .
<br /> � ' does not agcee ta be personally liable on the Seciued Debt.Trustor agees tl�at Beneficiary and any Darty to thia Dced of . .
<br /> . ' Trust may extend, modify or make any change in the tera�s of tlris Deed of Tcust or the Evidenee of Debt witiiout • � _
<br /> � Trustor's consent.Such a change will not release Ttustor from the terms of this Deed of Trust. The duties aad benefita of . .
<br /> �.. � tlus Deed of Tn�st shall bind and benefit the successors and assigns of Trustor affd Benef:clary. • . .
<br /> ' � . if this Deed of Trust secures a guaranty between Beneflciary tmd Ttustor and daes not d'uecily se�ure the obllgation whicb .•. ,
<br /> ` ' is guarantied,Trustor agrees ta waive any righta that may prevent Bene&ciary from bsinging any action or claim agalnst �
<br /> _,.. � Teustor or any party indebied under the obligation ittcluding.but not limited to.anti-0eficiency or ane-action laws.
<br /> � ?S.APPLICABLE LAW; SEVERABILITY; II�iTERPRETATI(DN.This Deed of Trnst is govemed by the lawa of the .. ,
<br /> ; � . � jurisdiction in wivch Beneficiary is located,eacept to the extent otheiwise required by the laws of the jwisdiction vrhere : .
<br /> ' the Property is lacated.T6is Deed of Tnist is complete and fiilly integrated.This Deed of Tn�st may not be amended or
<br /> � � � modified by oral agreement. Any section or claase in this DeEd of Tn�st. attachmeais.or any agreement related w the . , ._
<br /> • • • Sec�ued Debt that conflicts with applicable taw will noi be effecHve, unless that law expressly or impliedly permits the _ _
<br /> . ' vasiations by written agreement. ]f any section or clause of this Deed of Tn�st caanot be enforce�according to i?�tetms. �
<br /> that section or clause will be severed and will not affect the eaforceability of the remainder of this Deed of Trust. �
<br /> � ` VHheaever used,the singular shall include t�e plwal and the plwal the singulaz. The captions and headings of the sections . , �
<br /> � • . of tlris Deed of Trust are for conveaience on7y and are not to be used to interpret or define the ter�s of tlu9 Dee�C�f�I?tust. . ,
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<br /> Tune is of the essence in thls Deed of Tmst. oe8a s oi s .
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<br /> � ' - � �1993 Bankere Svstams,Ine..St.CIOW.MN I7�800-397�2341)Form AGICO DT�N£9:13l98 . '
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