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20060170'7
<br />Trustor subject to Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain
<br />the coverage described above, Beneficiary may, at Beneficiary's option, obtain coverage to protect
<br />Beneficiary's rights in the Property according to the terms of this Deed of Trust.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage
<br />clause" and, where applicable, "beneficiary loss payee clause.'` Trustor shall immediately notify .Beneficiary of
<br />cancellation or termination of the insurance. Beneficiary shall have the right to hold the policies and renewals. If
<br />Beneficiary requires, Trustor shall immediately give to Beneficiary all receipts of paid premiums and renewal
<br />notices. Upon loss, Trustor shall give immediate notice to the insurance carrier and Beneficiary. Beneficiary
<br />may make proof of loss if not made Immediately by Trustor.
<br />Unless Beneficiary and Trustor otherwise agree in writing, ,insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged if the restoration or repair Is economically feasible and Beneficiary's security is
<br />not lessened. If the restoration or repair is not economically feasible or Beneficiary's security would be
<br />lessened, the insurance proceeds shall be applied to the Secured Debt, whether or not then due, with any
<br />excess paid to Trustor. If Trustor abandons the Property, or does not answer within 30 days a notice from
<br />Beneficiary that the insurance carrier has offered to settle a claim, then Beneficiary may collect the Insurance
<br />proceeds. Beneficiary may use the proceeds to repair or restore the Property or to pay the Secured Debt
<br />whether or not then due. The 30 -day period will begin when the notice is given.
<br />Unless Beneficiary and Trustor otherwise agree in writing, any application of proceeds to principal shall not
<br />extend or postpone the due date of scheduled payments or change the amount of the payments. If the Property
<br />is acquired by Beneficiary, Trustor's right to any Insurance policies and proceeds resulting from damage to the
<br />Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before
<br />the acquisition.
<br />B. Trustor agrees to maintain comprehensive general liability insurance naming Beneficiary as an additional insured
<br />in an amount acceptable to Beneficiary, insuring against claims arising from any accident or occurrence in or on
<br />the Property.
<br />C. Trustor agrees to maintain rental loss or business interruption insurance, as required by. Beneficiary, in an
<br />amount equal to at least coverage of one year's debt service, and required escrow account deposits (if agreed
<br />to separately in writing), under a form of policy acceptable to Beneficiary.
<br />22. NO ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will
<br />not be required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />23. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any
<br />financial statement or information Beneficiary may deem necessary. Trustor warrants that all financial statements and
<br />information Trustor provides to Beneficiary are, or will be, accurate, correct, and complete. Trustor agrees to sign,
<br />deliver, and file as Beneficiary may reasonably request any additional documents or certifications that Beneficiary may
<br />consider necessary to perfect, continue, and preserve Trustor's obligations under this Deed of Trust and Beneficiary's
<br />lien status on the Property. If Trustor fails to do so, Beneficiary may sign, deliver, and file such documents or
<br />certificates in Trustor's name and Trustor hereby irrevocably appoints. Beneficiary or Beneficiary's agent as attorney in
<br />fact to do the things necessary to comply with this section.
<br />24. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br />this Deed of Trust are joint and individual. If Trustor signs this Deed of Trust but does not sign the Evidence of Debt,
<br />Trustor does 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. Trustor agrees that Beneficiary and any party to
<br />this Deed of Trust may extend, modify or make any change in the terms of this Deed of Trust or the Evidence of Debt
<br />without Trustor's consent. Such a change will not release Trustor from the terms of this Deed of Trust. The duties
<br />and benefits of this Deed of Trust shall bind and benefit the successors and assigns of Trustor and Beneficiary.
<br />If this Deed of Trust secures a guaranty between Beneficiary and Trustor and does not directly secure the obligation
<br />which is guarantied, Trustor agrees tr, waive any rights that may prevent Beneficiary from bringing any action or claim
<br />against Trustor or any party indebted under the obligation including, but not limited to, anti - deficiency or one - action
<br />law s.
<br />25. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Deed of Trust 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
<br />where the Property is located. This Deed of Trust is complete and fully integrated. This Deed of Trust may not be
<br />amended or modified by oral agreement. Any section or clause In this Deed of Trust, attachments, or any agreement
<br />related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or
<br />impliedly permits the variations by written agreement. If any section or clause of this Deed of Trust cannot be
<br />enforced according to its terms, that section or clause will be severed and will not affect the enforceability of the
<br />remainder of this geed Trust. Whenever used, the singular shall include the plural and the plural the singular. The
<br />captions and headings of the sections of this Deed of Trust are for convenience only and are not to be used to
<br />interpret or define the terms of this Deed of Trust. Time is of the essence in this Deed of Trust.
<br />26. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a
<br />successor trustee by an instrument recorded in the county in which this Deed of Trust is recorded. The successor
<br />trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon the
<br />Trustee by this Deed of Trust and applicable law .
<br />Loan Number 1151150
<br />7 / (page 6 of
<br />01993, 2001 Bankers Systems, Inc., SL GIOUd, MN Form AGCO- RESI -NE 1117/2003
<br />- C595(NE) (0307).01 U
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