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<br />2Q1�OQ170
<br />Trustor subject to Beneficiary's approual, which shall nat 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 Property according to the terms of this Deed of Trust.
<br />All insurance policies and renewais shall be acceptable to Beneficiary and shall include a standerd "mortgage
<br />alause" and, where applicable, "beneficiary loss payee clause." Trustar 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 end renewal
<br />notices. Upon loss, 7rustor shall give immediate notice to the insurance carrier and Beneficiary. Beneficiary may
<br />make proof of loss if not made immediately by Trustor.
<br />Un�ess Beneficiary and Trustor otherwise agree in writing, insurance prnceeds shall be applied to restoration or
<br />repair of the Property damaged if the restoratian or repair is economically feasible and Beneficiary's security is
<br />not lessened. If the restoration or repair is not ecanomically 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 />Trustar. If 7rustor abandons the Praperty, or does not answer within 3� 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 not then due. The
<br />30-day period will begin when the notice is given.
<br />Unless Beneficiary and Trustor othorwise agree in writin�}, any application of proceeds to principal shall not
<br />extend or postpone the due date of scheduled payments or change the amount vf 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 before the acquisition shall pass to Beneficiary ta 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 sccident or occurrence in or on
<br />the Property.
<br />C. Trustor agre�s to maintain rental loss or business interruption insurance, as required by Beneficiary, in an
<br />amount equal to at least coverage of nne 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. NQ ESCROW F�R TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be
<br />required ta pay to Beneficiary funds for taxes and insurance in escrow.
<br />23. FINANCIAL REPORTS AND ADDITIONAL baCUMENTS. Trustor 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 provides to Beneficiary are, or will be, accurate, correct, and complete. Trustor sgrees to sign,
<br />deliver, and file as Beneficiary may reasonably request any additional documents or certifications that Beneficiary may
<br />con5ider 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 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 AND INDIVIDUAL LIABILITY; CO-SIdNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Deed
<br />of Trust are joint and individual. If Trustor signs this Deed of 7rust but does not sign the Evidence of Debt, Trustor
<br />does so only to mortgage 7rustor's interest in the Property to secure payment of the Secured Debt and Trustor does
<br />not agree ta be personally liable on the 5ecured Debt. 'Trustor agrees that Beneficiary and any party to this Deed of
<br />7rust may extend, modify or make any change in the terms of this Deed of Trust or the Evidence of Debt without
<br />Trustor's cansent. Such a change will not release Trustor from the terms of this Deed of Trust. The duties and
<br />benefits af t:his Deed of Trust si7all bind and benefit the successors and essigns of Trustor and Beneficiary.
<br />If this Deed of Trust secures a guaranty between Beneficiary 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, 6ut not limited to, anti-deficiency or one-action
<br />laws.
<br />25. APPLICABLE LAW; SEVERABILITY; INT�IiPRETATION. This beed nf Trust is governed by the laws of the jurisdiction
<br />in which Beneficiary is located, except to the extent otherwise required hy the laws of the jurisdiction where the
<br />Property is located. This Deed of Trust is complete and fully integrated. 7his 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 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 Qeed 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 beed 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 �eed of Trust.
<br />2fi. SUCCESSOR TRUSl`EE. 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, 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 />InaB or
<br />� � 1993, 2001 Bankare Syatema, Inc., St. Cloud, MN Form AGCO-RE5I-NE 1l17/2003
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