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<br />200601807
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<br />L. N otwithstandlng any of the language contained in this Deed of Trust to the contrary, the tenus of this section shall
<br />survive any foreclosure or satisfaction of this Deed of Trust regardless of any passage of title to Beneficiary or any
<br />dispositionl:iy Beneficiary of any or all of the Property. Any claims and ciefenses to the contrary are hereby waived.
<br />
<br />CONDEMNATION. Trustor will give Beneficiary prompt notice of any action, real or threatened, by private or public
<br />entities to purchase or take any or all of the Property, including any easements, through condemnation, eminent domain,
<br />or any other means. Trustor further agrees to notify Beneficiary of any proceedings instituted for the establishment of any
<br />sewer, 'water, conservation, ditch, drainage, or other district relating to or binding upon the Property or any part of it.
<br />Trustor authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or claims and to collect
<br />and receive all sums resulting from the action or claim. Trustor assigns to Beneficiary the proceeds of any award or claim
<br />for damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds shall be
<br />cOllSidered payments and will be applied as provided in this Deed of Trust. This assignment of proceeds is subject to the
<br />terins of any prior security agreement.
<br />
<br />INSURANCE. Trustor agrees to maintain insurance as follows:
<br />A. Trustor shall keep the Property insured against loss by fire, theft and other hazards and risks reasonably associated
<br />with the Property due to its type and location. Other hazards and rusks may include, for example, coverage against
<br />loss due to floods or flooding. This insurance shall be maintained in the amounts and for the periods that
<br />13eneficiary requires. What Trustor requires pursuant to the preceding sentence can change during the term of the
<br />loan. The insurance carrier providing the insurance shall be chosen by Trustor subject to Beneficiary's approval,
<br />which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, Beneficiary
<br />may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to the terms
<br />of this Deed of Trust.
<br />
<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 fequires, 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 may
<br />make proof ofloss if not made immediately by Trustor.
<br />
<br />"(Jpless Beneficiary and Trustor otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of j:he Property damaged if the restoration or repair is economically feasible and Benetlciary's security is not
<br />lessened. If the restoration or repair is not economically feasible or Beneficiary's security would be lessened, the
<br />insurance proceeds shall be applied to the Secured Debt, whether or not then due, with any excess paid to Trustor.
<br />If Trustor abandons the Property, or does not answer within 30 days a notice from Beneficiary that the insurance
<br />carrier has offered to settle a claim, then Beneficiary may collect the insurance proceeds. Beneficiary may use the
<br />proceeds to repair or restore the Property or to pay the Secured Debt whether or not then due. The 3D-day period
<br />will begin when the notice is given.
<br />
<br />Unless Beneficiary and Trustor otherwise agree in writing, any application of proceeds to principal shall not extend
<br />or postpone the due date of scheduled payments or change the amount of the payments. If the Property is acquired
<br />by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from damage to the Property before
<br />the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition.
<br />
<br />B. Trustor agrees to maintain comprehensive general liability insurance naming Beneficiary as an additional insured in
<br />an amount acceptable to Beneficiary, insuring against claims arising from any accident or occurrence in or on the
<br />Property.
<br />
<br />C Trustor agrees to maintain rental loss or business interruption insurance, as required by Beneficiary, in an amount
<br />. equal to at least coverage of one year's debt service, and required escrow account deposits (if agreed to separately in
<br />writing), under a form of policy acceptable to Beneficiary.
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<br />NO 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 />
<br />FINANCIAL REPORTS AND ADDffiONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any
<br />fmancial statement or information Beneficiary may deem necessary. Trustor warrants that. all fmancial statements and
<br />information Trustor provides to Beneficiary are, or will be, accurate, correct, and complete. Trustor agrees to sign,
<br />deUver,.8nqJ'i1.!?as)3,eneficiary may reasonably request any additional documents or certifications that Bcneficiary may
<br />copsidet' nece!,sary to perfect, continue, and preserve Trustor's obligations under this Deed of Trust and Beneficiary's lien
<br />~ta~,~ ".QJ!. $C 1'. roperty. ,If Trustor fails to do so, Beneficiary may sign, deliver, and me such documents or certiticates in
<br />Trustor's nllIDC lUl4 Trustor hereby irrevocably appoints Beneficiary or Beneficiary's agent as attorney in fact to do the
<br />~$~ ti~9~sSllfY t.? f,Rlnp1Y,'Yith this section.
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<br />.[000 Al'lP. INPlyInriAL LIABILITY; COwSIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under
<br />this peed of 'fT\.Jstare joint and individual. If Trustor signs this Deed of Trust but does not sign the Evidence of Debt,
<br />Trustor does .SQ only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does
<br />Rot a&l-"ee t9 l>e person~lly liable on the Secured Debt. Trustor agrees that Beneficiary and any party to this Deed of Trust
<br />may extend, modify Or make any change in the terms of this Deed of Trust or the Evidence of Debt without Trustor's
<br />consent. Such a change will not release Trustor from the terms of this Deed of Trust. The duties and benefits of this Deed
<br />of Trust shall bind and benefit the successors and assigns of Trustor and Beneficiary .
<br />
<br />If this Deed of Trust secures a guaranty between Beneficiary and Trustor and does not directly secure the obligation which
<br />is guarantied, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against
<br />!rustor or any party indebted under the obligation including, but not limited to, anti-deficiency or one-action laws.
<br />
<br />APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Deed of Trust is governed by the laws of the
<br />jurisdiction in which 13en~ficiary is located, except to the extent otherwise required by the laws of the jurisdiction where
<br />the Property Is located. This Deed of Trust is complete and fully integrated. This Deed of Trust may not be amended or
<br />modified by oral agreement. Any section or clause in this Deed of Trust, attachments. or any agreement related to the
<br />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 or clause of this Deed of Trust cannot be enforced according to its terms,
<br />that section or clause will be severed and will not affect the enforceability of the remainder of this Dccd of Trust.
<br />Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections
<br />of this Deed of Trust are for convenience only and are not to be used to interpret or defme the terms of this Deed of Trust.
<br />Time is of the essence in this Deed of Trust.
<br />
<br />~ @ 1993 Bankur$ Systems, Inc.. SI. Cloud, MN Form AG/CQ-DT-NE , 130/2002
<br />G-C164(NE) (0307)
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