|
� T`'���=ru`za��`Z �,L���i�;,,..��.�:.r .
<br /> , , �� .. , .
<br /> ��
<br /> ! n . .'n.l;�:�� . ... . . . . -
<br /> � . ' ,\1
<br /> :rM7M� � :> ., .
<br /> ., ( ., e"��dp..�...w. � .. . " , . -.a'nr.�..� . o^ � . r, .• -_.-- —--:.
<br /> ,: ..•
<br /> �. ..... . � . ' o � ..
<br /> . . wanii�� ' � � ^� . . � _.__..__._._..J.��.. . ......'___ .— _.
<br /> . _.... ..M..r" . �. ..._..,..,a..._...«.,...M'��a:a......-i
<br /> u '. . ...... .. . _ - _
<br /> •' ._ '��.,..�.... . ' ". . .....Y. '�
<br /> .
<br /> .._ ^__"'.,�."_�' _"'"'_""._� �.._.._.._.'"_'"'"' ...�_. ...
<br /> - _. _.�. —"'r.-"'_'.��_ _' ..., . . F�-.
<br /> i.
<br /> � • 'j �`�—
<br /> • . �
<br /> , � � • • �'_._..
<br /> _�- • °' g�. ����� �=
<br /> . ._ --
<br /> ' L. I+JotwiWatandiag any oY the laagwge contairted ia t1�in Deed of T�ust to the contYary,the tem�s of this section shaU =-
<br /> ,; survivo nny foxc;closnte or auttefaction of thia Deed af Tcust regnadieas of any pnsanye of title to�enefIciary or any =__
<br /> •�r disposition by Beneficicuy of eny or p11 of the PropeRy.Any clai�ns aad defensea to the contrary are hereby v+uived.
<br /> 20.COIVID]EMNA'1'ION. Trustor wW give Beneficlary prompt nodce of any aceloa, eeai or threatencct.by privute or public ��'
<br />... ."< ..:��' entltiea to purchase or take any or all of the Property� iacluding any easemenu�through candema8tion. eminent domatn, _
<br /> ^ or any other mepna.Truswr thrther agcees w aotify�eaeRciary of atry proceedings instituted for the estatilishraent of any
<br /> =�'*,`��' � sewer,water.conservation� ditch. drelnage,or other dietrict relatiag to or biadiwg upon the Progerty or any pait of it. w_
<br /> :�.x....
<br /> Trustor suthorizes Beaeflciary w intervene ia Tmstar's nazne in a�►y of the aisave described actions or claims and to co ect
<br /> .y... _, � and receive all suma resuitfng€rom the action or claim.Tnistor assigns to BeaeSciary the proceeds of any award or claim ,__
<br /> - -- °� q for damages conaected with a�oltdeamation��ii othf�t talcing of all or any part of the Property. Such proceeds shaU be =
<br />- J'� conaidered payraents and w�ll.�e ap�flied'a4�irov4d�d in this Deed of'['rust. 'Ihis assigiment of proceeds is subje�t to the --
<br /> .. terms of aay prior a�ty e�+eeme�t. '�••;�•;'�o',�s`�4�". __
<br /> • . ° : �
<br />_��iri��;�:�;�;��`;w `� �b.I1�.�ilElANCE.Trt�etor sgr�ta maiutain 3nsurimce as followa:
<br /> :-�..,.'.;:'r;:eFlj�t,�1� A. T�ustor shall keep the Pmperty iasured against loss by fu+e.theft an�D dher hazards snd risks reasonably associated =
<br /> ._'-��.�:':.;::`�.:�• ' wtth the ptoperty due to its type and Iocailon.Other hazards and ruaks may include.for examQle.coverage against =
<br />�,,_,z:��.>..,�t.,.. _
<br /> =t�:r:,��.�:.ti loss due to flooda or Aaoding. Tl�s iasurance shall be maintained la the aiaouats and for the periods that
<br />';`�-.- �.; geuegclary require�. 'ILe Iuseuance carrler pmvidiag the insurance sheU be chosen by Tcustor subje�t to
<br /> - `-� .�...•..`
<br />_y���^: BeueReiacy's approval� which shall aot be unreasonabiy withheld. If Trustor failo to msiataia the coverage
<br /> _- . described above. BeneRciary may. at Beneficiary's optioa.obtein coverage to pmtect BeneRciary's dghte in the
<br /> proPertY accord�►8 to the tetms of this Deal of 7Yuat. __
<br />-:_��.°,�� All insuraacs poHcies nnd reaewuls sbe11 bo accEptabla to Ssaeflciary end ehall include a standatd "mortgage --
<br /> =� �- °" clauso" and� where appllcable. °beneficlary loae pay�u rlauso." Tnaetor eha11 Irauue�latr3y notit�r Benoflotury of
<br /> =�.;���°� cansellatton or tcmilnntlon of the insuranco.Benctisiary eh�11 havo tho dght W hold tho liates and rrnowale.It
<br /> __�=
<br /> �eneftci�ry► mquiree. Tcuetor ahall Immedietely gdvo to Brneftctuy dl raceipts of pai p�uma und renowal
<br />-_=�'"'�� naticcs. Upen toas�Teuator eb�ll glve f�rqtnedlat�uotiw w tho i�aeursuioe carcier uAd�eneffai Benoficlary mny
<br />°�w�,�� make pmof of tosa if not msde lcrsnKdiately by Tcustor.
<br /> _�'�',M�N11"i>
<br /> --.;;,:�� Unless Beneficinry and Truswr othetvvlse agree ia wrlt�, insurasce pmceods ehall b�spplied to natoration or
<br /> —," np8tt Of tlte Yroperiy�maBod if iha�±uu-sttGa tir t�patf fo��Y naa �e an�l Re.neficlary's socurItY 18 IIet ,
<br />--,:�„;--:--
<br /> a
<br /> —�„�.�� IesseneA. If the restoration or npair is uot economicalIy feasible ar BeaeEciary's seauity would be le�sened.the __
<br /> -^�`�� iasuranoe prooeeda shaU be applled w the Socured Debt,wh�ther or �t then due.with any excess paid to Tcuswr• --
<br /> If Tn�swr abaadons the Prnperty. or dces not answer withiu 30 days a notice fmm BeneSclary that the insurance
<br /> ---- -'� ca�rter has offered to seule a claim�then Beneficiary maY collea the insurauce prooeeds. B�eSciary maY usa the
<br /> = Q•--�,:�c�� proceeds w repair or restore the FmperiY or to pay the Sexured Debt ah�ther or not then due.11ie 3U�day perlod
<br /> -.,__�.�fp� wW begin when t�e notice ie gtven.
<br />--��m"�� Unless Beaeficiary and Tn�awr athetwise agree in writin�,anY BPPli�atton of pma�ede w principal shall aot e�usnd
<br /> IP!
<br /> ��;;��..;'.;� or postpone the due date of scheduled paynteats or change the amouat of the payntents.If the Property ia acquired _
<br /> by Beaefcciary.Tn�stor's right to aay insurance Polides and pmoeeds resuldng&om dmnage ta�the Prop�rty befo�
<br /> - --- --� the acquisitiom shall pass so Beneficiaty to the extent of the SECUred Debt imm�liately before the acquiaition.
<br />-----� B. Tcuswr agrees to maintain comprehensive geaerel liabiltty�oe naminB HPaeficia�y as an additional insured in
<br /> - an amount acoeptable W BeneficiazY.ins�rin8 aSainst claims t�niU from aby aocident or ocautreace in or on the
<br /> ���:" C. 1tu�sDeorti agre�s w main'�in reatal loss or busiaess 3ntem�pt�oa ins�ramoe, as s¢quired by Benefic�y.in an amo�t
<br /> `:'s;;.= ��at least coverage of one year's debt serv��e,and required es�xow a�caeunt deposits(if agc+eed w separately
<br /> -- in vuriting)�umder a form of pollcy ecceptable to�fidary.
<br /> -- 22.N4 E6CR�R►k�0�T�AXES����fo��a�nd� Uin�u�a�m ��wmvided ia n s�arate agreement,Tmstor will uot
<br /> -=��'��� �� PI►Y
<br /> -� 23.FiNA1VLLw icr:ra�a'tia Ai�i'i f.;.�,�'�'�CA:::.E�'�,J4�...f�'°-'L.Tst.sto� ailt pmvide to BEae8c3ary upon�equ�t+aaY
<br /> ---_-� financiai statement oz infam�ation Beasficiary may deem ncc�cY. 'l�tor �arrants t6at all financial stetsm�s and __
<br /> ir�ormation Tcuswr pravides to B�efiaiaiq are.or will be� aoc�rate, oo�x, end complete. Tn�swr agc�as to slgo.
<br /> _ deliver�and Sle as BeneSdary �aY reasonably request any�addlHonal doa�meats or oectlScations that Be�efidary maY
<br /> - eonsider a�ssazY w Ferfe�l+continue. and presecve'�istbr s obUgationa �der tbis Deed of Trust and B�eficiacy's lien,.
<br /> ;::�,'; siatns on the Ptopecsy.If�'ruator fails to do'so.Beme�cIIary maY slgu.delirer.and S1B such doa�m�ente or oeitiftcate.s in
<br /> - - Tmstor's name aad'SYuaLor hereby Ia�evocablY aPl�����Y or Beaeficimy's agent as attoraey in fact w do the
<br /> __-"�'�; things ueceseary to oomply wlth this secttom.
<br /> --__�,aiF�'. wrpt�tt
<br />.__'-.rm5� �•aOi�T�19�pI�1'�vA,t.L]AB��y;C.Q��71��i�:SUCCFS.SOlt6 AND A&SIGNS BOIJI�ID•��C9 Il�f�
<br /> __===_=y=� tbia Dead of'IYust are joint aad individw+l. If 1'iuswr signs thia Deed of Tn�st but does nothe S�ixaued Deb��r
<br /> -- --- 1Yi:5tor dces so only w mortgage Tnnewr's interest in the Fmperiy W secnre paym�t w this Dead of
<br /> - -�,�==��:o. dces not agree to lse peraonaUy liable on the Securia the terms of this�Deed o$Tiust o�r the BvIdeac�of Debt without �
<br /> __'-,'���� Tmst may extend. modify or matce anY cha�g
<br /> �"i�i"• Tn�swr's consent.S�ch a change wUl aot release 7lcustor fmm the tams of this Dced of 1�ust.'ihe dut�es aad beaeSts of
<br /> -_ :� ,.-- this DEed of Tcusc shaU bind aad benefit the successors and aseigns of Tna.stor and BeneSciary.
<br /> �� :t`�;�i:�� -°-_- ��•n_......Ma.t..m.w.is.�.�to cac•,m.rha nhHo�f}nn�vhich
<br /> --�=�-..- . af this Deed of Ttust socures a guarmmiy oeiwocn ncucu�,aa;d.......o.,..a..,.,.•.....•,.-----, ----- - ---�
<br /> -�'`�����,�� is guarantted,Tcustor agcees w waive anyr rlghta that may prevent E�efaciary fmm brlagiag a�►Y actton or claim against
<br /> ;=_�,;��t;?�?.:'�"� Tiustor or anY P�Y iadsbted under tLe obllgation Iucluding,but not Iimited w,aati-deficiency or on�action laas. ..
<br /> _,:��,,,. ,,,:;
<br /> :��-�;.,., . : k 23.APF7.ICABLE LAW; �EVERABILITY: I1�'1'�3PRETATION. This Deed of Tn�st is govemed by the laws of the _
<br /> �-`�, ' � ;, ; jurLsdict�on in which Beae�C�ia:y is locat�ci, except w the extent othetad�e re�ited by the laws of the juiis�icflon where _
<br /> .,�..: :.:.;y;;:; ��.i the Pmperiy is located.'I9uis��3�d of Tmat is compl�te and fi�lly iategtated.'i7ds D�ed of Trust m�y aot be amended or
<br /> mudfifial by oral agreement. Any s�1�n or cianse in thie Dced of Trost,auac�ts. or any agc�ement mlated w the
<br /> ;.:�,., � Seaired Debt that conflicts anthappI�xable law wiIlY not be effecti�ie.umtess that law eap�ly or impHedty permits Nx�
<br /> � � � varlations by wciuen a�at.If any sxNon or clause of this Da�of TNSt cannot be�forced aeoo�to its tams.
<br /> -•�,, ::,.... ' chat section or clause will be severed and �:rii!nmt n�fect the enforcea�ility of the remaiad�r of this B�eed oSf Tzust.
<br /> r�� .� Whenever us�d.the singular sball include the ptucai und the plwal the siagulae.'Ihe capi�ons aud headings o8 she secttons
<br /> ��.:•{'.'{�.. of this Daed of'hust are for conv�ienoe only and are not to be used to inteipret or define the terms of this Deed of'I'mst.
<br /> " ' Time is of the essence in this Dead of Tiust. � � Rapn 8 oJ 8
<br /> .. � -'�. .
<br /> . , m7983 Benkds bysMm�.tnc.St GouE.MN U�800397-23411 WtmAWL'0�0T� 10130l87
<br /> �,. ' - -- -
<br />
|