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<br />B.
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<br />Trustor subject to Beneficiary's approval, which shall not be unreasanably withheld. If Trustor fails to meintain
<br />the coverage described a6ove, 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.
<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 olause." Trustor shall immediately notify Beneficiary of
<br />cancellation or terminatinn 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 nf 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.
<br />Unless Beneficiary and Trustor atherwise 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 econamically feasible or Beneficisry'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 the proceeds to repair or restore the Property or to pay the Secured Debt whether or nat then due. The
<br />30-day period will begin when the natice is given.
<br />Unless Beneficiary and Trust�r othetwise agree it1 writirrg; ar�r-'appt'ce�tie�r"b�'�t'aceed� tn'�irin�ipal shafl not
<br />extend nr postpone the due date of scheduled payments or change the amount of the payments, If the Property
<br />is acquired by Beneficisry, Trustar'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 />Trustar agrees to maintain comprehensive general liahility 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 loss or business interruptian insurance, as required by Beneficiary, in sn
<br />amount equal to at least coverage of one year's deht service, and required escrow account deposits (if agreed ta
<br />separately in writing�, under a form of policy accepta6le to Beneficiary.
<br />22. NO ESCROW FQR TAXES AND INSURANCE. Unless otherwise pravided in a separate agreement, Trustor will nnt be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />23. FINANCIAL REPORTS ANb ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial
<br />statement or information Beneficiary may deem necesssry. Trustor wsrrants that all financial 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 Bensficiary may reasonably request any additional documents or certificatinns that Beneficiary may
<br />consider necessary to perfect, continue, and preserve Trustor's obligations under this Deed of Trust and Beneficiary's
<br />lien status on the Property. If Trustar fails tn 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.
<br />24. JOINT ANb INDIVIDUAL LIABILITY; CO-SI(3NERS; SUCCESSOIiS AND ASSIGNS BOUND. All duties under this Deed
<br />nf Trust are joint and individual. If 7rustor signs this Deed af Trust but dnes not sign the Evidence af Debt, Trustor
<br />does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does
<br />not agree to be persanally liable on the Secured Debt. Trustor agrees that Beneficiary and any party to this Deed af
<br />Trust may extend, modify or make any change in the terms of this Deed af Trust or the Evidence of Debt without
<br />Trustor's consent. Such a change will not release 'frustor from the terms of this beed of Trust. The duties and
<br />- �'�f-th'rs Dee� cf Trcrst�tra�l-bir�d and be►�efit the auccassor� and s�sigr�s o rustar an ene :crary,
<br />If this Deed of Trust secures a guaranty between Beneficiary and Trustor and does not directly secure the obligation
<br />which is guarsntied, Trus#or agrees ta waive any rights that may prevent Beneficiary from bringing any action or claim
<br />against Trustnr or any party indebted under the obligation including, but not limited to, anti-deficiency or one-action
<br />laws.
<br />25. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Deed of Trust is governed by the laws of 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 Deed of Trust is complete and fully integrated. This Deed of Trust may not be amended or
<br />modified by oral agreement. Any section ar 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 dause of this Deed of Trust cannot be enfarced according to its
<br />terms, that section ar clause will be severed and will not affect the enforceability of the remainder of this Desd of
<br />7rust. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the
<br />sections of this beed of Trust are for convenience only and are not to be used to interpret or define the tarms of this
<br />pead of Trust. 7ime is of the sssence in this Deed of Trust.
<br />2B. SUCCESSQR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appaint a
<br />successor trustee by an instrument recorded in the county in which this peed of Trust is recorded. The successor
<br />trustee, without canveyance of the Property, shall succeed to all the title, power and duties cnnferred upon the
<br />Trustee by this Deed of Trust and applicable law.
<br />IpegB
<br />�/� � 19$9, 2001 Bankera Systame, Inc., St. Claud, MN Form AGCO-RE5I-NE 1/17/2003
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