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<br /> , � , L. Notcvithsta�ing any of the language contained in this Deed of Tnrst w the conuary.che tec�s of Wis section shall . � _
<br /> . . survive any forectosvre or satisfaccion of thLc Deed of Tn�st cegardless of any passage of titte to Beneficiary or any [ ` �
<br /> , . , • disposition by Beneficiary of any or all of the Propeny.Any cIaims and defenses to the contrary are hereby waived_ i , _ �
<br /> � �� .
<br /> � • ' 20.CONDEMNATiON.Trustor wiU give Beneflaary pmmpt notice of any a�tion.real or threateaed, by private or pubtic �. `
<br /> entities to purchas�or take any or all of the Property. incIuding any easecneats.through conde�ation. eminent domaia. .
<br /> � ' or any other means.Tmstor funher agnees to notify Beneficiary of any proccedings instiwted for the establishment of any , _
<br /> . sewer,water, oonservation,ditch, drainage,or other district relating to or binding upoa the Property or any part of it. ..
<br /> ' Tmstor authorizes Seae&ciary to intervene in Tnutor's name in any of the above described actions or claims and to collect .
<br /> and mceive all sums res�iltiag from the aqion or claim.Trustor assigns to Beaeficiary the procceds of any award or claim .< -.��-�"
<br /> •- ' - for damages connecxed with a condemnatioa or other takins of all or any put of the Property. Such proceeds sha11 be - _ -_
<br /> ' , oonsidered gaymeats and w�71 be applied as provided in this Deed of Trost.77zis assignment of prnoeeds is subject to the , -
<br /> � • teims of atty prior security agreenaeat. -
<br /> - � -� 21.INSIJRANCE.Tnuwr agrees to mainiain insurance as follows: ._r:.. .�' .
<br /> • . . j A. Tmstor shall keep the Property insured against 2oss by fire,theft and other ha��ards and risks ieasonat�ly associated � -: ,.<=. ;;
<br /> with the Property due w its type and location.Other hazards and rusks mny include,for example,wverage against � �
<br /> • loss due to floods or flooding. This insurance shall be *►�;*+t�� in the amounts and for the periods that .�-_..;,,�x -
<br /> � � Benefici req�ires. The insarance cazrier providing the insurance shall be chosen bq Tmstor subject to
<br /> • • Benefic ry's approval, wiuch shall noi be w�neasanably withheid. lf Tn�swr faiLs to *�a�*nam the coverage
<br /> . � described above, Beneficiary may, at Beneficiary's option, ubtaia coverage to protect Ben�ficiary's rights in tke � ,,,-; _
<br /> ' � ' �P�Y�rd'nig to the terms of this Deed of Tnist. . _
<br /> . �.�
<br /> • . � - All insuraace policies and reaewals shall be acceptable to Benef ciary and shaU inctude a standard "mortgage �;.� "`
<br /> � � clause" and, where applicable, "beneficiary loss payee cla�se." TnLStor shall immediatety notify Beneficiasy of :'�:
<br /> ' � ' cancellation or tennination of the insarance. Beneficiary shall have the right w flold the policies and renewals. If :��,._�.
<br /> ` ` ; Beneficiary teqnires, Tmstor shall immediately give w Beaeficiary 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 aot made i�ediately by Trustor. . `'��-
<br /> r.�.' S� �
<br /> � � Unless Beneftciary and Tn�swr otherwise agree in writing, in.s�rance pmceeds s1�a11 be applied to restordrion or � _-
<br /> . �. . . iepair of the Praperty damaged if the ressoration or repair is ecoaomically fea�'ble and BeaeSciary's seciuity is not .,.4,. �•=�;
<br /> � . • �. lessened. If the�storation or repair is not�onomically feas►'ble or BeneRciary's security would be Iesseaed,the - . �� .�
<br /> insuraace proceeds shall be applled w the Secured Debt,whether or not Wen dne,with auy excess paid to Tnutor. �.. � _ --
<br /> ' . �- If Tmstor abandons the Property,or does not answer within 30 days a notice fram Beneficiary that the ins►uance ,f `s'.�_�"_
<br /> ,�_� --
<br /> carrier has offered to seule a claim,then Benefrciary may collect the insurance proceeds.Beneficiary may use the 3€;.�.
<br /> � � ' pr�ceeds to repair or restore the Property or w pay the Se�vred Debt whether or not then due.The 30-day period .. r's---�
<br /> ` .'; will begia when the notice is given. '
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<br /> • :•� UNess Beneficiary and Trasior otherwise agree in wririag,any application of proceeds to principal shall not extead ;�,.:�
<br /> or postpone the due date of scheduled payments or change the aznount of the paymeats.ff the Property is acqnited -• �
<br />� � b y B e n e fi c i a ry,T n u t o r's ri g h t t o an y i n s u r a n c e p o l i c i e s a n d p m c e e d s�e s n l t i n g f r o m d a m a g e t o t6e Pro pe rt y before � � � �:��
<br /> ° . ' ��� the acquisition shall pass to Beneficiary to the axtent of the Secured Debt immediately before the acqaisition. � ". _==
<br /> � B. Tnutor agrees to maintain comprehensive general liability insurance naming Beneficiary as aa additional insur e d in .�.�;�_
<br /> � an amount acceptahle to Beneficiary, insuring against claims arising frora any accIdent or occurrence ia or oa the . .%..�.3:;y
<br /> Property. ' • .�.r s�:�_•
<br /> C. Trustor agrees to maintain rental loss or business interruption insurance,as required by Beneficiary, in an amount <'�_,�:• :;.�_
<br /> " equal to at teast coverage of one year's debt service,and requir�escrow account deposits(if agreed to separately , � _ ,:.-.
<br /> ' � in writing),uader a form of policy acceptable to Benef��iary. . �, 4"
<br /> . • � "�:
<br /> ,} ZL.NO ESCROW FOR TARES AND INSURANCE. UWess otherwise provided in a separate agreement,Truswr will not - _
<br /> , '� be required to pay to Beaeficiary funds for taxes aad iasurance in escrow. , .
<br /> •� � .�.� 23.FIIVANCIAL REPORTS AND ADDTTIONAL DOCil11�ENT3. Tnistor a+iU provide w Beneficiary upon request, any ' . •
<br /> � ' financial statement or information Beneficiary may deem necessary. Trustor warrants that all financial statetnents and �
<br /> �,�• � . Info:mation Trustor provides to Beneficiary are. or will he, accurate, oorrecx. and complete. Trustor agrces to sign, , �^ ' .
<br /> • deliver, and file as Beneficiary rnay reasonably request any addirional documents or certifications that Beneficiary�nay . � .
<br /> • � consider necessary to perfect.continue,and preserve Trustor's obligations under this Deed of Trust and Beneficiary's lien •
<br /> ; j status on the Properry. If Trustor fails to do so, Beneficiary may sign.deliver.and file such documents or cer�i�cates in , . • �
<br /> . Trustor's name and Tmstor hereby irnvocably appoints Beneficiary or Beneficiary's agent as attomey in fact to do the
<br /> ' � things necessary to comply with this sectlon. . ,
<br /> .I;.; � : . .
<br /> 24.JO1NT AND�iDIVIDUAL LIABII.ITY;CO-SIGNERS; SUCCESSORS AND ASSIGNS BOIJND.AIl duties under
<br /> this Deed of Tn�st are joint and individual. if Tniswr signs ttils Deed of Tmst but does not sign the�vldence of Debt,
<br /> ' Trustor does so only to mortgage Trustor's interest in the Propetty to secure payment of the Secvred Debt and Trustor � � •
<br /> � . daes not agtee to be persanally liabte on the Secured Debt.Trustor agrees that Beneficiary and any party to Wis Dced 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.The duties and benefits of :
<br /> this Deed of Trust shall bind and benefit the successors and assig�s of Trusror and Beneficiary. . � .
<br /> If this Deed of Tnrst secnres a guaranty between Beneficiary and Trustor and does not direcdy secure the obligation which ... �
<br /> `, � . is guarantied, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against �
<br /> Trustor or any party indebted under the obligation including.but not limited to.anti-deficiency or one-flction laws. .
<br /> ?S.APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Deed of Trust is governed by the laws of the .
<br /> 1 jurlsdiction in which Beneficiary is located. except to the extent otherwise required by the laws of the jw�isdiction where . ' .
<br /> the Property is located. This Deed of Trnst is wmplete and fully integrated. This beed of Ttvst may not be amended or : �
<br /> ,- modified by oral agreement. Any section or clausc in this Deed of Trust, attachments. or any agreement mlaied to the �• .
<br />-• ' 5ecured Debt that conflicu with applicable law will not be effective, unless that law expressly or impliedly permits the � �.
<br /> variations by wrltten a�reement. lf any section or clause of this Deed of Trust cannot be enforced according to its tem�s, F �
<br /> .. � that section or clanse wi11 be severed and will not affect the enforceability of the remainder of this Deed of Trust. '
<br /> Whenever used,the singular shall include the plural and the plural the singular.The captions and headings of the sections �
<br /> . � � ' of this Deed of Trust are for convenience only and are not to be used to interpret or define the terms of this Deed of Trust. � � �' �
<br /> Time is of the essence in this Deed of Trust. • � ,
<br /> , �� pagv 5 0/6
<br /> • c 1993 Banke��Svstoms.�nc.St C�ad.MN I�B00 397 23a�� Fo.r„qG CO Dr NE �030 97 . '
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