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<br />20100912G
<br />Trustor subject to Beneficiary's approval, which shall not be unreasonably withheld. If Trustor faiis to maintain
<br />the couerage described above, Beneficiary may, at Beneficiary's option, obiain coverage to protect Beneficiary's
<br />rights in the Property according ta 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 pnlicies and renewals. If
<br />Beneficiary requires, Trustor shall immediately give to Beneficiary all receipts of paid premiums and renewal
<br />notices. Upan loss, Trustnr shall give immediate notice to the insurance carrier and Beneficiary. Beneficiary may
<br />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 />nnt lessened. If the restoration or repair is not economically feasible nr 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 claim, then Beneficiary may collect the insurance proceeds. Beneficiary
<br />may use tha proceeds to repair or restore the Property or to pay the Secured Debt whether or not then due. 7'he
<br />3�-day period will begin when the notice is given.
<br />Unless Beneficiary and Trustar p�herwise sgrae in writine, any app,lication.of proceacis to.principal shall not
<br />extend or postpone the due date of scheduled payments or change the gmount 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 befare the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before
<br />the acquisition.
<br />B. Trustor agrees to maintain camprehensive general liability insurance naming Beneficiary as an additional insured
<br />in an amount acceptable to Beneficiary, insuring against claims arising from eny 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 accaunt deposits (if agreed to
<br />separately in writing►, under a form of policy acceptable to Beneficiary.
<br />�2. NO ESCROW FOR 7AXES 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 />2,3. FINANCIAL REPOFiTS ANQ ADDITIQNAL bOCUMENTS. 7rustor will provide to Beneficiary upon request, any financial
<br />statement or information Beneficiary may deem necessary. Trustor warrants that all financial statements and
<br />information Trustor prnvides to Beneficiary are, or will be, accurate, correct, and complete. Trustar 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, cantinue, and preserve Trustor's obligations under this Dsed of Trust and Beneficiary's
<br />lien status nn 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 ar Beneficiery's agent as attorney in
<br />fact to do the things necessary tn comply with this section.
<br />24. JQIMT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND AS5IGNS BOUND. All duties under this beed
<br />of 7rust are joint and individual. If Trustor signs this Deed of Trust but does not sign the Evidence of Debt, Trustor
<br />does so only to mortgage Trustor's interest in the Property to secure payment af the Secured Debt and Trustor does
<br />not agree to be personally liable on the Secured Debt. Trustor agrees that Beneficiary and any party to this Deed of
<br />Trust may extend, modify or make any change in the terms of this Deed of Trust or the �vidence of Qebt without
<br />Trustor's consent. Such a change will not release Trustor from the terms of this beed of Trust. The duties and
<br />benefits of this Deed of Trust shall bind and benefit the successars and assigns of Trustor and Beneficiary.
<br />If this Deed of Trust secures a guaranty between Beneficiary and 7rustor and does not directly secure the obligation
<br />which is guarantied, 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 including, but not limited to, anti-deficiency or one-action
<br />laws.
<br />25. APPLICABLE LAW; SEVERABILITY; IN7ERPRETATION. This Deed of Trust is governed hy the laws af the jurisdiction
<br />in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdictian where the
<br />Property is located. This Deed of Trust is complete and fully integrated. This Deed of Trust may not be smended or
<br />modified by oral agreement. Any section or clause in this Deed of Trust, attachments, nr 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 ar clause of this Qeed of l�rust cannot be enforced according to its
<br />terms, thst section or clause will be severed and will not affect the enforceability of the remainder of this beed af
<br />Trust. Whenever used, the singular shall include the plural and the plural the singular, The ceptions and headings of the
<br />sections of this Deed of Trust are for convenience only and are not ta be used to interpret or define the terms of this
<br />Deed of Trust. Time is of the essence in this Deed of Trust.
<br />26. SUCC�SSOR tRU57EE. Beneticiary, at Beneficiary's option, may from time to time remove Trustee and appoint a
<br />successor trustee 6y 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 />lpage 6 of 8)
<br />� � 1993, 2001 6ankers Systoms, Inc., St. Cloud, MN Farm AGCO-RESI-NE 1/17/2003
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