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<br />200801431
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<br />Trustor subject to Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain
<br />the coverClge described Clbove, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's
<br />rights in the Property according to the terms of this Deed of Trust.
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<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 may
<br />make proof of loss if not made immediately by Trustor.
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<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 lessened,
<br />the insurance proceeds shall be applied to the Secured Debt, whether or not then due, with any excess paid to
<br />Trustor. If Trustor abandons the Property, or does not answer within 30 days a notice from Beneficiary that the
<br />insurance carrier has offered to settle a clilim, then Beneficiary may collect the insurance proceeds BenefiCiary
<br />may use the proceeds to repair or restore the Property or to PilY The Secured Debt whether or not then due The
<br />3D-day period will begin when the notice is given.
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<br />Unless Beneficiary and Trustor otherwis'~ agree ;n writing, any i'pplication of proceeds to principal shall not
<br />extend or postpone the due date of scheduled payments or change the alTlount of the payments If the Property
<br />is acqllired by Beneficii'lfy, 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 to
<br />separately in writing), under a form of policy acceptable to Beneficiary.
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<br />22. NO ESCROW FOR TAXES AND INSURANCE. Unless otherWise provided in a separate ilgreernent, Trustor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow,
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<br />23. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to BeneficialY Uporl rlolquest, any financial
<br />statement or information Beneficiary may deem necessary. Trustor warrants that all findncial 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 />corlsider rlecessary 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,
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<br />24. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Deed
<br />of Trust are joint and individual. If Trustor signs this Deed of Trust but does not sign the Evidenclol of Debt, Trustor
<br />does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Deht ilnd Trustor does
<br />flut dgree W be p8rsonally liable on the Secured Debt. Trustor agrees thalBeneficiary alld ,my party to thiS Deed of
<br />II US! lllay ex teno, ITlOdify or make ilny ctlange In tIlE: terms of this Oeea of Trust or the EVidence of o-ebt Without
<br />TrllSTOr's consent. Such d change will not release Trustor from the terms of this Deed of Trust The duties and
<br />henefits of this Deed of Trust shall bind and benefit the successors and assigns of Trustor ilnd Berleficiary
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<br />If this Deed of Trust secures il guaranty between Beneficiary and Trustor and does not directly secure the obli~Jation
<br />which IS guarantied, Trustor agrees to waive any rights that rnay prevent Beneficiary frorn bringing any action or clilim
<br />against Trustor or any party indebted under the obligation including, but not limited to, anti-deficiency or one~actlorl
<br />laws.
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<br />25. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Deed of Trust is governed by the laws of the jurisdiction
<br />in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the
<br />Property is located. This Deed of Trust is complete arld 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 agreernent related to the
<br />Slolcurtid Dlolbt tllat conflicts with applicdbllol law will riot be effective, unless that law expressly or impliedly permits the
<br />vmiations by written agreement. If any section or clause of this Deed of Trust cannot be enforced according to its
<br />ternlS, that section or clause will be severed and will not affect the enforceability of the remainder of this Deed of
<br />Trust. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the
<br />sections of this Deed of Trust are for convenience only arid are not to be used to intelprlolt or dtiline the terrns ot thi:,;
<br />Deed of Trust. Time is of the essence in this Deed of Trust.
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<br />26. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint Cl
<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.
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<br />F~tJ.~ r~.., 19~~, 7001 R;;lI1ker:s Sv!::.~el'T1s. In\~, 51. CIC'~:d. MN f.j'"m .o,GCO-RESI,NE , 117/2Q()3
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