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<br />200603883
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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.
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<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.
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<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 />inunediate notice to the insurance carrier and Beneficiary. Btmeticiary may make proof of loss if not made immediately by
<br />Trustor.
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<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.proceoos 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.
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<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.
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<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.
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<br />22. JOINT AND INDIVIDUAL LIABILITY; 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 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. 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.
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<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, ij,lll~li:tbat laweX]1cfll.~J<or ilnpliedly permits the
<br />variations by written agreement. If any section of this Security Instrument cannot be:enfolced accordmg to its terms, that
<br />section will be severed and will not affect the enforceability of the remaind9'\W,f,this'Seourit,..,lM;t'f'i1menL 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.
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<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.
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<br />@1994 Bonkers Systems, Inc., St. Cloud, MN Form GTH.MTGLAZN E 1/6/96
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<br />GL~8'090 (11/97) (pagB 5 of 6)
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