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<br /> authorizes Beneficiary to intervene in Trustor s name in any of the above described actions or claims. Trustor assigns to
<br /> Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any
<br /> part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security
<br /> Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br /> other lien document.
<br /> 19. INSURANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br /> associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the
<br /> periods that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br /> Beneficiary s approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described
<br /> above, Beneficiary may, at Beneficiary s option, obtain coverage to protect Beneficiary s rights in the Property according
<br /> to the terms of this Security Instrument.
<br /> All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and,
<br /> where applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination of the
<br /> insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
<br /> immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br /> immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by
<br /> Trustor.
<br /> Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to
<br /> the Secured Debt, whether or not then due, at Beneficiary s option. Any application of proceeds to principal shall not
<br /> extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid
<br /> to the Grantor. If the Property is acquired by Beneficiary, Trustor s right to any insurance policies and proceeds resulting
<br /> from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br /> before the acquisition.
<br /> 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br /> required to pay to Beneficiary funds for taxes and insurance in escrow.
<br /> 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any
<br /> financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any
<br /> additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor s
<br /> obligations under this Security Instrument and Beneficiary s lien status on the Property.
<br /> 22• JOINT AND INDIVIDUAL LIABILTTY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br /> this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of
<br /> debt, Trustor dces so only to mortgage Trustor s interest in the Property to secure payment of the Secured Debt and
<br /> Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between
<br /> Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim
<br /> against Trustor or any party indebted under the obligation. These rights may include, but are not limited to, any
<br /> anti-deficiency or one-action laws. Trustor agrees that Beneficiary and any party to this Security Instrument may extend,
<br /> modify or make any change in the terms of this Security Instrument or any evidence of debt without Trustor s consent.
<br /> Such a change will not release Trustor from the terms of this Security Instrument. The duties and benefits of this Security
<br /> Instrument shall bind and benefit the successors and assigns of Trustor and Beneficiary.
<br /> 23. APPLICABLE LAW; SEVERABILITY;INTERPRETATION. This Security Instrument 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 jurisdiction where
<br /> the Property is located: This Security Instrument is complete and fully integrated. This Security Instrument may not be
<br /> amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to
<br /> the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the
<br /> variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that
<br /> section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used,
<br /> the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security
<br /> Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument.
<br /> Time is of the essence in this Security Instrument.
<br /> 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary s option, may from time to time remove Trustee and appoint a
<br /> successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of
<br /> the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and
<br /> applicable law.
<br /> GT-15-28-090 (1 1/97) (paqe 5 of 61
<br /> �01894 Bankers Systems,Inc.,St.Cloud,MN Form GTH-MTGLAZNE 1/8/98
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