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201507755
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11/10/2015 2:48:24 PM
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DEEDS
Inst Number
201507755
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Security Instrument - Commercial /Agricultural -NE <br />VMP® Bankers SystemsTM <br />Wolters Kluwer Financial Services ©1993, 2011 <br />2015077' <br />Debt, whether or not then due, with any excess paid to Trustor. If Trustor abandons the Property, or <br />does not answer within 30 days a notice from Beneficiary that the insurance carrier has offered to <br />settle a claim, then Beneficiary may collect the insurance proceeds. Beneficiary may use the proceeds <br />to repair or restore the Property or to pay the Secured Debt whether or not then due. The 30 -day <br />period will begin when the notice is given. <br />Unless Beneficiary and Trustor otherwise agree in writing, any application of proceeds to principal <br />shall not extend or postpone the due date of scheduled payments or change the amount of the <br />payments. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and <br />proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the <br />extent of the Secured Debt immediately before the acquisition. <br />B. Trustor agrees to maintain comprehensive general liability insurance naming Beneficiary as an <br />additional insured in an amount acceptable to Beneficiary, insuring against claims arising from any <br />accident or occurrence in or on the Property. <br />C. Trustor agrees to maintain rental loss or business interruption insurance, as required by Beneficiary, in <br />an amount equal to at least coverage of one year's debt service, and required escrow account <br />deposits (if agreed to separately in writing), under a form of policy acceptable to Beneficiary. <br />22. NO ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor <br />will not be required to pay to Beneficiary funds for taxes and insurance in escrow. <br />23. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, <br />any financial statement or information Beneficiary may deem necessary. Trustor warrants that all financial <br />statements and information Trustor provides to Beneficiary are, or will be, accurate, correct, and complete. <br />Trustor agrees to sign, deliver, and file as Beneficiary may reasonably request any additional documents or <br />certifications that Beneficiary may consider necessary to perfect, continue, and preserve Trustor's <br />obligations under this Deed of Trust and Beneficiary's lien status on the Property. If Trustor fails to do so, <br />Beneficiary may sign, deliver, and file such documents or certificates in Trustor's name and Trustor hereby <br />irrevocably appoints Beneficiary or Beneficiary's agent as attorney in fact to do the things necessary to <br />comply with this section. <br />24. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under <br />this Deed of Trust are joint and individual. If Trustor signs this Deed of Trust but does not sign the Evidence <br />of Debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the <br />Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. Trustor agrees that <br />Beneficiary and any party to this Deed of Trust may extend, modify or make any change in the terms of this <br />Deed of Trust or the Evidence of Debt without Trustor's consent. Such a change will not release Trustor <br />from the terms of this Deed of Trust. The duties and benefits of this Deed of Trust shall bind and benefit <br />the successors and assigns of Trustor and Beneficiary. <br />If this Deed of Trust secures a guaranty between Beneficiary and Trustor and does not directly secure the <br />obligation which is guarantied, Trustor agrees to waive any rights that may prevent Beneficiary from <br />bringing any action or claim against Trustor or any party indebted under the obligation including, but not <br />limited to, anti- deficiency or one - action laws. <br />25. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Deed of Trust is governed by the laws of the <br />jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the <br />jurisdiction where the Property is located. This Deed of Trust is complete and fully integrated. This Deed of <br />Trust may not be amended or modified by oral agreement. Any section or clause in this Deed of Trust, <br />attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be <br />effective, unless that law expressly or impliedly permits the variations by written agreement. If any section <br />or clause of this Deed of Trust cannot be enforced according to its terms, that section or clause will be <br />severed and will not affect the enforceability of the remainder of this Deed of Trust. Whenever used, the <br />singular shall include the plural and the plural the singular. The captions and headings of the sections of this <br />Deed of Trust are for convenience only and are not to be used to interpret or define the terms of this Deed <br />of Trust. Time is of the essence in this Deed of Trust. <br />26. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and <br />appoint a successor trustee by an instrument recorded in the county in which this Deed of Trust is <br />recorded. The successor trustee, without conveyance of the Property, shall succeed to all the title, power <br />and duties conferred upon the Trustee by this Deed of Trust and applicable law. <br />AGCO - RESI -NE 7/1/2011 <br />VMP- C5951NE) 111071.00 <br />Page 8 of 10 <br />
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