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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 pratect Beneficiary's
<br />rights in the Property according to the terms of this peed 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 af 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.
<br />Unless Beneficiary and Trustor otherwise agree in writing, insurance proceeds shall be applied to restoration ar
<br />repair of the Property damaged if the restoration or repair is economically feasible and Beneficiary's security is
<br />not lessened. If the restaratinn or repair is not economically feasible or Beneficiary's security would be lessened,
<br />the insurance proceeds shall be applied to the 5ecured Debt, whether or not then du�, 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 tn repair or restore the Property or to pay the Secured Debt whether or not then due. The
<br />30-day period will begin when the notice is given.
<br />Unless Beneficiary and 7rustor otherwise agree in writing, any application of proceeds to principal shall not
<br />extend or postpone the due date of scheduled payments or change the amount 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 af the Secured Debt immediately before
<br />the acquisition.
<br />B. Trustor agrees to maintain comprehensive general liability insurance naming Beneficiary as an additianal 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.
<br />22. N� ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agresment, Trustor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />23. FINANCIAL REPORTS AND ADDITIONAL D�CUMENTS. Trustor will provide to Beneficiary upon request, any financial
<br />statement or information Beneficiary may deem necessary. Trustvr warrants that all financial statements and
<br />information Trustor provides 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 certificatians 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 Trustor fails to da so, Beneficiary may sign, deliver, and file such documents or
<br />certificates in Trustor's name and Trustar 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-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Deed
<br />af Trust are joint and individual. If Trustor signs this Deed of Trust but does not sign the Evidence of Debt, Trustor
<br />does so anly ta martgage Trustor's interest in the Property to secure payment of the 5ecured Debt and Trustor does
<br />not agree to be personally liable on the Secured Debt, Trustor agrees that Beneficiary snd 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 Euidence 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 ihis Deed of Trust shall bind and benefit the successors and assigns af 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 inde6ted under the obligation including, but nat limited to, anti-deficiency or one-action
<br />laws.
<br />25. APPL.ICAE3LE LAW; SEVERABILITY; INT�RPRETATION. This I]eed of Trust is governed by the laws of the jurisdiction
<br />in which Beneficiary is lacated, except to the extent otherwise required k�y 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 6e amended or
<br />modified by oral agreement. Any sectiqn or clause in this Deed of Trust, attachments, or any agreement related ta 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 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 and are not to 6e used to interpret or define the terms of this
<br />peed of Trust. 1"ime is of the essence in this Deed of Trust.
<br />26. SUCCESSOR TRUSTE�. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a
<br />successor trustee by an instrument recorded in the county in which this Deed of Trust is recorded. The successor
<br />trustee, withaut conveyance of the Property, shall succeed to all the title, pawer and duties conferred upon the
<br />Trustee by this peed of Trust and applicable law.
<br />, , _ .. /page 6 of 8/
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<br />� j�"' OO 1993, 2001 Bankers Systems, Inc., S2. Clvud, MN Farm AGCO-RE5I-NE 1/17/2003 �� r �� 1 �� ' �'
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