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200213693 19. INSURANCE. 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 location. This insurance shall be maintained in the amounts and for the periods that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by Truster subject to Beneficiary's approval, which shall not he unreasonably withheld. If Trustor fails to maintain the cover age described above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property recording to the terms of this Security Instrument All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and, where applicable, "loss payee clause." Tristan shall immediately notify Beneficiary of earsellution or termination of the insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Truster shall immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give immediate notice to themsurance carrier and Beneficiary. Bere ficiary may make proof of loss if not made immediarely by Trustor. Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Properly or to the Secured Debt, whether or not then due, at Beneficiary's option Any application ofproceeds to principal shall not extend or postpone the due date ofthc scheduled payment nor change the amount ofary payment Any excess will be paid to the Grantor. Ifthe Property is acquired by Beneficiary, Trustur'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. Unlcss otherwise provided in a separate agreement, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 5657 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Truman will provide to Beneficiary upon request, any financial statement or information Beneficiary may deem reasonably nece arry. Trustor agrees to sign, deliver, and file any additional documents on 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 Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument arc joint and individual. If Trustor signs this Security Instrument but does not sign an evidence ofdcbt, Truster does so only to mortgage Trustor's interest in the Property to secure payment oflhe Secured Debt and Trustor does not agree to be personally liable on the Secured Debt Ifthis Security Instrument secures a guaranty between Beneficiary and Trustor, 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. These rights may include, but are not limited to, any anti - deficiency or one - action laws. Trustor agrees that Beneficiary and any parry to this Security Instrument may extend, modify or make any changes in the terms of this Security Instrument or any evidence of debt without Tr isha's consent. Such a change will not release Truster from the terns of this Security Instrument The duties and benefits of this Security Instrument 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 thcjunsdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement Any section in this Security Instrument, 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. Ifany section of this Security Instrument cannot be enforced according to its terns, that section will be severed and will not affect the enforceability ofthc remainder of this Security Instrument Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections offhis Security Instrument are for convenience only and are not to be used to interpret or define the terns of this Security Instrument. Time is ofthe essence in this Security Instrument 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without any formality other than the designation in writing. The successor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument 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 mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one Tmstor will be deemed to be notice to all trustors. 26. WAIVERS. Except to the extent prohibited by law, Trustor waives all appmiscmcnt and homestead exemption rights relating to the Property. Fv ii,ni- tQ 1994 Rankers Systems, Inc., St Cloud, MN Form USB- RFD'I' -Nr 9/420UI (pngc 5 of b)