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201101933
<br />Trustor subject to Beneficiary's approval, which shsll 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 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 clause." Trustor shall immediately notify Beneficiary of
<br />cancellation"or termination of the insurance.`Beneficiary shall have the right to hotd the policies and renewals. If
<br />, Beneficiary requires; Trustor shal6 irnmediately' give to>'Beneficiary all receipts of 'paid premiums `and'renewal
<br />° notices:'Upon Ioss, Trustor^shalf give immediate notice`to the insurance carrier'and Beneficiary. Beneficiary may
<br />make proof of lqss 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 />not lessened. If the'restoration or repair' is not economically 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 />Trustor, If Trustor"abandons the Property, o� does not answer within 30 days a notice fromBeneficiary that the
<br />irtsurance 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 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'Beneficiery, Trustor's right to any "insurance policies and' proceeds resulting from` damage to the
<br />Property before the'acquisition shafl 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 additiona( 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 accounf deposits (if agreed to
<br />separately in writing), under a' form of`policy.acceptable to Beneficiary.'
<br />22. NO ESCROW FOR TAXES AND 1NSURANCE. 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 />23. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS.' Trustor will provide'to Beneficiary upon request, any financial
<br />statement or -information ' Beneficiary 'may ` deem necessary'. Trustor warrants that all #inancial statements and
<br />information Trustor provides to 8eneficiary are; or will be, accurate,<correct, and complete. Trustor 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, continue,'and preserve Trustor's' obligations under this Deed'of Trust and Beneficiary's
<br />Jien 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 attomey 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 />' of Trust are joint and individuaL 1f Trustor signs this Deed of Trust but does not 'sign the' Evidence of Debt, Tr�stor
<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 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 Evidence of Debt without
<br />Trustor's consent. Such a change will not release Trustor from the terms' of this Deed of Trust: 'fhe duties and
<br />' benefits of this Deed of Trustshall° bind and benefit the successors and assigns 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 aetion or claim
<br />againsf Trustor or any party indebted under the obligation mcluding, 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 locatecl; 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 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:'1f any section or clause' of this' Deed of Trust cannot be enforced according to its
<br />terms, that'section or cfause 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 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. SUCCESSOR 7RUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove 7rustee 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 />� �� (page 6 of 8)
<br />�"' m 1993, 2001 Bankers Systems, Inc:, St. Cloud, MN Form AGCO-RESI-NE 1/17/200
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