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, - �� 99- �c��so1 authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or claims. Trustor assigns to Beneficiary the proceeds of any award or claim for damages cannected with a condemnation or other taking of all or any part of the Property. Such proceeds shall be considered paymeats �d will be applied as provided in tlus Security Instn�ment. Tlus assignment of proceeds is subject to the terms of any prior mortgage, dee�i of trust, security agreement or other lien document. 19. INSLJRANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated with the Property due to its type and locatian. This insurance shall be maintained in the amounts and for the periods that Beneficiary requires. The insurance cazrier providing the insurance shall be chosen by Trustor subject to Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage de.scribed above, Beneficiary may, at Beneficiary's aption, obtain coverage to protect Beneficiary's rights in the Property according to the terms of this Security Instniment. All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and, where applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination of the insluance. Beneficiary shall have the right to hold the policies and re�ewals. If Beneficiary requires, Trustor shall immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by Trustor. Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Beneficiary's aptian. Any application of proceeds to principal shall not extend or postpone the due date of the schedulefl payment nar change the a�unt of any paymea�t. Any excess will be paid to the Grantor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Tn�stor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upan request, any financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary's lien status on the Praperty. 22. JOINT AND IlVDIVIDUAL LIABII,ITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Trustor signs this Security Instruu�ent but does not sign an evidea�ce of debt, Trustor dces so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. If tlus Security Instrument secures a guaranty between Beneficiary and Tnistor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any actian or claim against Trustor or any party indebtetl under the obligatian. These nghts may include, but are not hmited to, any anti-deficiency or one-actian laws. Trustor agrees that Beneficiary and any party to ttris Security Instruwent may extend, modify or make any change in the terms of this Security Instn�ent or any evidence of debt without Trustor's consent. Such a change will not release Trustor from the term5 of this Security Instrument. 'Ihe duties and benefits of tlus Security Instniment shall bind and benefit the successors and assigns of Trustor and Beneficiary. 23. APPLICABLE LAW; SEVERABILITY;INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instnu�ent is complete and fully integrated. Tlus Security Instrumexit may not be amended or modifiad by oral agreement. Any section in ttris Security Instnament, attachments, or�y agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by writtea� agreement. If any section of ttus Security Instrument cannot be enforced according to its terms, that saction will be severed and will not affect the enforceability of the remainder of tlris Security Instnunent. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the secrians of this Security Instn�ment ate for canvenience anly and are not to be used to interpret or define the terms of this Security Instntment. Time is of the essence in tlus Security Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor tivstee without any other formality than the designation in writing. The successor tnastee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Sacurity Instrument and applicable law. ;%�� T-1 8-090 (1 1/97) /page 5 of 61 01994 B�nkers Syeteme,Inc.,St.Cloud,MN Form GTH-MTGLAZNE 1/B/98