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<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 Beneficiary's
<br />rights in the Praperty 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 immadiate notice to the insurance carrier and Beneficiary. Beneficiary may
<br />make proof of lass if not made immedia#ely by 1"rustor.
<br />Unless Beneficiary and Trustor ntherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair af the Property damaged if the restoration or repair is economically feasi6le and Beneficiary's security is
<br />not lessened. If the restoration or repair is not economically feasible or Beneficiary's security wnuld be �essened,
<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 daes not answer within 30 days a notice frvm Beneficiary that the
<br />insurance carrier has offered to settle a claim, then Beneficiary may collect the insurance proceeds. Beneficiary
<br />may use the proceeds ta repair or restore the Property or to pay the 5ecured Debt whether or not then due. The
<br />30-day period will begin when the notice is given.
<br />Unless Beneficiary and Trustar otherwise agree in writing, any application of praceeds to principal shall not
<br />extend or postpone the due date of scheduled payments or change the amount of the payments. If the Praperty
<br />is acquired by Beneficiary, Trustor's right to any insurance policies and prnceeds 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 acquisitinn,
<br />1"rustor 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 />Trustor agrees to maintain rental Ioss or business interruptinn insurance, as required by Beneficiary, in an
<br />amount equal ta 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 ta Beneficiary.
<br />22. NO ESCROW F�R TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, 7rustor will not be
<br />required to pay to Beneficiary funds far taxes and insurance in escrow.
<br />23. FINANCIAL REPORTS AND ADDITIOMAL bOCUMENTS. Trustor will provide to Beneficiary upan request, any financial
<br />statement or infarmation Beneficiary msy deem necessary. Trustor warrants that all finsncial statements and
<br />information Trustor provides to Beneficiary are, or will be, accurate, correct, and camplete. Trustor agrees to sign,
<br />deliver, and file as Beneficiary may reasonably request any additional documents ar certifications that Beneficiary may
<br />consider necessary to perfect, continue, and preserve Trustor's obligations under this Deed of Trust and Benefic�ary'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 Trustar'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-SICiNERS; SUCCES50R5 AND ASSIGNS BOUND. All duties under this Deed
<br />of Trust are joint and individual. If Trustor signs this Deed of Trust but does nnt sign the Evidence of Debt, Trustor
<br />does so only ta mortgage Trustor's interest in the Praperty to secure payment of the Secured I]ebt and Trustar does
<br />not agree to be personally liable nr. the Secured Delat. 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 7rust or the Evidence of Debt without
<br />Trustor's consent. Such a change will not release Trustor from the terms of this Deed of Trust. The duties and
<br />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 Benefioiary and Trustor 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-actian
<br />laws.
<br />2b. APPLICABLE LAW; SEV�RABILITY; INTERPRETATION. 7his Deed of Trust is governed by the laws af the jurisdiction
<br />in which Beneficiary is lacated, except to the extent otherwise required by the laws of the jurisdiction where the
<br />Property is located. This beed of Trust is complete and fully integrated. This beed of Trust may not be amended or
<br />mndified 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
<br />terms, that section or clause will be severed and will not affect the enforceability of the remainder of this peed 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 and are not to be used to interpret or define the terms of this
<br />Deed of Trust. Time is of the essence in this peed of Trust.
<br />26. SUCCESSQR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a
<br />successor trustse 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 />E'j[�� 81993, 2001 6ankars Systems, Inc., Si. Cloud, MN F�rm AGCO-RCSI-NE 1/17/2003 _� �_
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