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200301540 Unless Beneficiary and Truster otherwise agree in writing, insurance proceeds shall he applied to restoration er repair of the Property damaged if the restoration or repair is economically feasible and Beneficiary's security Is not lessened. If the restoration or repair is not economically feasible or Beneficiary's security would be lessened, the insurance proceeds shall be applied to the Secured Debt, whether or not then due, with any excess paid to Trustor. If Truster abandons the Property, or does not answer within 30 days a notice from Beneficiary that the insurance carrier has offered to settle a claim, then Beneficiary may collect the insurance proceeds. Beneficiary may use the proceeds to repair or restore the Property or to pay the Secured Debt whether or not then due. The 30 -day period will begin when the notice is given. Ull Beneficiary and Trustor otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of scheduled payments or change the amount of the payments. If the Property is acquired by Beneficiary, Truster'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. B. I rustor agrees to maintain comprehensive general liability insurance naming Beneficiary as an additional Insured in an amount acceptable to Beneficiary, insuring against claims arising from any accident or occurrence in or on the Property. C, Truster agrees to maintain rental loss or business interruption insurance, as required by Beneficiary, in an amount equal to at least coverage of one year's debt service, and required escrow account deposits lit agreed to separately in wril under a form of policy acceptable to Beneficiary. 21. NO ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 22. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem necessary. Trustor warrants that all financial statements and Information Trustor provides to Beneficiary are, or will be, accurate, correct, and complete. Trustor agrees to sign, deliver, and file as Beneficiary may reasonably request any additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Truster's obligations under this Dead Of Irust and Beneficiary's lien status on the Property. If Trustor fails to do so, Beneficiary may sign, deliver, and file such documents or cartiticates in Truster'. name and Trustor hereby irrevocably appoints Beneticiary or Beneficiary's agent as attorney in fact to do the things necessary to comply with this section. 23. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Deed of Trust are joint and individual. if Trustor signs this Deed of Trust but does not sign the Evidence of Debt, Truslor does so only to mortgage Truster's Interest in the Property to secure payment of the Secured Debt and Truetur does not agree to be personally liable on the Secured Debt. Truster agrees that Beneficiary and any party to this Deed of I rust may extend, modify cr make any change in the terms of this Deed of Trust or the Evidence of Debt without toaster's consent. Such a change will not release Trustor from the terms of this Deed of Trust. The duties and benefits of this Deed of Trust shall bind and benefit the successors and assigns of Trustor and Beneficiary. If this Deed of Trost secures a guaranty between Beneficiary and Truster and does not directly secure the obligation which Is guarantied, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Trustor or any party indebted under the Obligation including, but not limited to, anti- deficiency or are action laws. 24. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Deed of Trust 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 Deed of Trust Is complete and fully integrated. This Deed of Trust may not be amended or modified by oral agreement Any section or cause in this Deed of Trust. attachments, or any 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 written agreement. If any section or clause of this Deed of Trust cannot be enforced according to Its terms, that section or clause will be severed and will not affect the enforceability of the runminder of this Dead of Trust. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Deed of Trust are for convenience Only and are not to be used to Interpret or define the terms of this Deed of Trust. Time is of the essence in this Deed of Trust. 25. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's notion, may from time to time remove Trustee and appoint a ccessor trustee by an instrument recorded in the county in which this Deed of Trust is recorded. The successor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred unto the Trustee by this Deed of Trust and applicable law. 25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mall to the appropriate party's address on page 1 of this Deed of Trust, or to any other address designated In writing. Native to one truslor will be deemed to be notice to all trusturs. IPo9e ©1993. 3001 Banb�cayxvm; Inc..St. ol-11 MN `V s"o o "l1NE a/ "re' r' (L�/ (}/(()a nz