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<br /> . . . 'on shall �:- ,
<br /> � L. NotwiRhstandin8 anY of th�langua8e�rontained m tlsss Deed of Trust to the conuary.the tem�.s of th�s sear • '_ . .
<br /> ` y�nvive any foreclosuie or satisfaction of this Deed of Tnut rega�dless of anp Passage of title to Beneficiazy or any d. .�,
<br /> An claims and defenses to the contrary are heieby waived. �, : �•.
<br /> � dispositeon by Heneficiary of any or all of the Property. Y -._.
<br /> ' �' Z0.CONDFMNATION.Tmstor will give Beaeficia�'PmmPt nouce of any action,real ar threatened, 6Y Privass or public . .
<br /> � ` entities to pard�ase or take any or all of the Property,including aay easeme�s,thmugh condemnation,eminent domau►. : .
<br /> ` � Tnutor further agrec�s to aotify Beneficiaxy of any praceedings instituted for the establishment of aaY � - .
<br /> ' or any other means. e,or other disa'ict relat�w or binding upon the Property or any part of iL , .
<br /> • ' sc,wrer, water, canservatlon, ditch, drainag _ ��---- _
<br /> �-�- Tn�.stor a�uhorizes Beneficiary w intervene in Tnutor's name in any of the above descri6�ed acu��o�n�ss ofc�ward or claim <'~' '';'.. --; ��',,'_-
<br /> � - . - and receive all sams res�ilting fro�the act�on or claim.'�rastor assigns to Beneficiary P ��� shall be .
<br /> ';� . `
<br /> ` r � for danoaBes connected with a condemnatian or other taking of all or any part of the Propertg•roc�eeds is snbject to the f
<br /> �
<br /> - considered paymeuts and w7I be app'iied as pmvided itrthis Deed of Tmst.'Ibis as�ig�ent P `.,; ..,,rr , -
<br /> , : tecros of any prior security�• �i #�'� _
<br /> _� _ �<
<br /> , Zl.INSIJgtANCE.Tcustor agrees W maintaia uisurance as follovers: risks reasonab a�saciated , . .. - �,
<br /> � A. Tmstar shall keep the ProPertY insured against loss by fire,theft and other ha�ards and tY :
<br /> rd
<br /> dne to its e and locarion.Other harards aa►d rusks maY inctudc,for example,ooverage against .:.� �.�.-
<br /> arith ttte Pcoperty tYP
<br /> . loss due to floads or floading. Ttris imuran��hall th insurance shall be�cbosen byf Trusto�bject�to � ���-`
<br /> .. .� ' `: Benefcciary requires. 'llie insurance carrier P 8 � . • _ ' -_
<br /> ° � � r��' Beneficiary's appmval. which shall not be nnreasonably withheld. If Tcustor fails to maintain the coverage . __
<br /> d e s c r i 6 e d a b ove. Beaeficiary may. at Beneficiary�s optioa. obtain coverage to pmtect Beaeficituy's rights ia ihe �: :° ��_=_-
<br /> : . . . - Prapertyr accord'utg to the terms of this Dced of Ttust. , ��
<br /> � Ail insurance pollcies and renewals shaU be acceptable to Beneficifuy and shall include a standard "mortgage ; ::�
<br /> " � clause" and. where aPPlica�f the nsuranc�e. Benefc arycls�l ha e tlte�5��°h��Pol'cies and mnewala. if • ' =r--
<br />. _ . :t : canceUation or terminaUon ve to Beaeficiary all receipts of paid preaumns aad renewal ' ` . _ _
<br /> Beneficiary requires, Tn�stor shall immediatety gi genehciary maY
<br /> � nouces. Upon loss.Trustor shall give i�mediate notice to the insurance carrier and BeneficiarY• `� r;Y�`'�
<br /> �; �' make proof of lass if not made immediauly by Tnutor. ;`�_�T
<br /> �,4..:.,___
<br /> ' ' �writing. insuraace proceeds shall be plied to restoration or •'��,��,a=
<br /> . llntess Beaeficiary and Trustor othecwise agtee' -: .�:?:`.,`�4
<br /> • . repair of the PropertY damaSed if the restoration or repair is a:onouucally feasibte and B efc��d'�s�s���e ` .:}�,' �:;
<br /> lessened. if tiie rescoraaon or repair is not econosulcallY feasible or Beneficiary's sea�rity
<br /> _ ��..:
<br /> ;��-
<br /> �{' . � �nce pmoeeds sball be applied to the Se�ured Debt.whether or not then due,with anY exc�s paid to Trostor. : •,,- �;._;.�;
<br /> that the insRiauce ;. ;Q,�;,�;
<br /> : .',•.'�; If Trustot abaadons the PropertY.or does not answer within 30 days a notice from BenefcciarY use the �,�,i,_,.{,:�,
<br /> carrier has offered to settle a clafcn,thea Benefcciary u�ay collea the insurance proeeeds.Beneficiasy may _,,;r{{ I
<br /> whether or not then due.The 30�day period � f;�s�
<br /> � , pmceeds to repair or rescore the Property or to pay the Secured Debt �`�;,,,, ; _�
<br /> when the notice is given. { �
<br /> wi116egin -�- .
<br /> Y - UWess Beneficiary and Trustor otherarise agree in writing.anY aPPHcation of proceeds to principal si�all not extead ;<;;• .:�•_,,=
<br /> .`�_ ' or postpone the due date of scheduled paYments or change the amount of the payments.lf the Pcoperty is acqnired .
<br /> . �,.�'• by BeneficiarY.Tn�stor's rlght to any insurance policies and proceeds resniting from damage to the Property before :.'� ,;-''�'
<br />- . �e�cquisitian sha11 pass w Beneficiary to the extent of the Secured Debt immediatelY before the acquisitioa. '..�,:.e
<br /> � B. Trastor agrees to maintain comprehensive general Iiability insurance naming Beneficiary as an additional insured in • • ; ��Y
<br /> .+ • . a n a m o u n t a c c e ptable to Beneflciary, �nsurin8 a8ainst claims arismg from aay accident or accurrence in or on the . • �,.:<T_,
<br />: .. . • Property. :�:_
<br /> � C. Trustor agrees ta maintain rentalloss or business intemiption insurance.as recluired by Beneficiary,in an amount �,:r:,.. :-'�•_
<br /> , ,`' equal to at least coverage of one year's debt service.aad required esc�'ow account deposits(if ageed to seQarately :•�,:�,I,:,_.,__T
<br /> � i n wn p n g),under a form of golisy acceptable to Beneficiary. :u+.:•-
<br /> ., , ; ..{ '� '� : =-
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<br /> . ' 2Z.NO ESCR�W e OtR T�AXfrE�S A��for�taxAes and Uinsutance in�owrovided in a separate agreement,Trustor wiU not . ,,:;.'', .;,..
<br /> �; . .: 6e required P Y
<br />' 4� 23.FIIVANCIIAII.REPORTS AND ADDITIONAL DOC�JNIENTS.TrusTrustor wT�arrants th aa lf fin ncia stat ments and � � .
<br /> :�;., .� • ' � fmancial statement or infom�ation Ben�ciary maY deem ne�ss�• .
<br /> � infom�ation Trustor provides to Beneficiary are. or will 6e, aavrate, correct. and comPlete. Tnutor agrees to sign,
<br /> � deliver. and file as BeneRciary maY reasonably request any addiuonal documents or r.ertifications that Beneficiary may ;
<br /> . m
<br /> � consider necessary to perfect.continue.and preserve Tn�stor's obl3gations under Wis Deed of Trust and Beneficiary's lien •�;> _
<br /> . . :. '�� starns on the Propeny. lf Trustor fails to do so. Beneficiary may,sign.deliver, and file such doaunents or certificates in
<br /> ,,:� .I Trustor s nazne and Trusror hereby irrevocably appoints Beneftc�ary or Beneficiary's agent as attorney in fact to do the � , .
<br /> � things necessary to wmply with this section. .
<br /> f'. � ,�, . � ..� 24.JOINT AND INDIIIIDUAL LIABILYTY; CaSIGNERS;SUCCESSORS I�ND ASSIGNS BOUNA. All duries under , . .
<br /> . , � J th;s Deed of Trust are joint and indivtdual. lf Trustor signs this Deed of Trust but daes not sign the Evidence of Debt,
<br /> Trustor does so only to mortgage Trustor's intemst in the Property to secure payment of the Secu�Dib�t�id D��of �
<br /> � " � daes not agree to be personally liable on the Secured Debt.Trustor agrces that Benef ciary and any p y
<br /> � Trust may extend, modify or make any change in the tem�s of this Dced of Trust or the Evidence of Debt without
<br /> ' � ' Trustor's consent.Such a change will not relcase Tn�stor from the terms of this Deed of Trust.The duties and benefits of
<br /> � . .i this Deed of Trust shall bind and benefit the successors and assipis of Trustor and Beneficiary.
<br /> ' , ' j ,
<br /> , If this Deed of Trust secures a guaranty between Beneficiary and Trustor and does not directly secure the obligation which
<br /> � • is �arantied,Trustor agrees to waive any rights that may prevent Beneficiary from bring�ng any action or claim against
<br /> � Trustor or any party indebted under the obligation including,but not limited to.anti-deficiency or one-action laws.
<br /> :.,.� ' 25.APPLICABLE LAW; SEVERABILITY; IN7`�RPRETA7'ION. This Deed of Trust is govemed by the laws of the '
<br /> � � jurisdiction in which Beneficiary is located,except to the extent othQrwise required by the laws of the jurisdiction where �
<br /> , . � the PropertY is located.This beed of Trust is complete and fully integrated. This Deed of Trust may not be amended or �
<br /> modified by oral agreement. Any section or dause in this Deed of Trust, attachments. or any agreement related to the
<br /> ' Secured Debt that conflicts with applicable taw will not be effettive, unless that law expressly or impliedly permits the �
<br /> . i variations by written agreement. If any section or clause of this Deed of Trust cannot be enforced according ta�ts tetms,
<br /> � that section or clause will be severed and will not affect the enforceability of the remainder of this Deed of Trust. �•
<br /> Whenever used.the singttlar shall indude the plural and the plural the singulaz. The captions and headings of the sections
<br /> ; of this Deed of Trust ue for convenience only and are not to be used to interpret or deGne the terms of this Deetl of Trust. .
<br /> -- - Tiazc is af the essence in thic i�cect of Trust. naao s ot e �- _ -
<br /> ,' � � n t993 Banken Systoms,inc.St.CtwA.MN 17 600 397 23471 Fo�m AGCO DT�JE �0�30•97 -� .
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