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<br /> L. Notwithstanding aay of the laaguage cantained in[his Deed of Tnut to the cnntrary,the tenns of[his section shaU � " � -�
<br /> survive any farectosure or satisfacaon of this Deed of Tcust regardless of any passage of ritte to Beneficiary or any , `P
<br /> disposition by Beneficiary of any or alt of the Praperty.Any claims and defenses to the amuary are hereby waived. � • , '�-
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<br /> 20.CONDEMNATION.Tn�stor will give BeaeSciary prompt notice of any acxion.real or thmatened. by private or public , � , =
<br /> entiaes to purchase or take any or all uf the Pmpem�,incIuding a�y easanents. through condemnation, emm�ent domain, ' ,, •
<br /> or any other means. Tmstor further agrees to aotify Benefciary of any procxedings insututed for the establishnrPm of any ; . . -
<br /> sewer, water, conservation. ditch, drainage. or ather district relating to or binding ugan the Property ur any part of it. � , , .
<br /> - Tnistor authorizes Beneficiary to interveae in Tnistor's name in any of the above descrihed accions or claims and to collect •. • , •
<br /> - and receive all sums r�vlting from the ac�cl�im.TnLSmr assigns to Beneficiary the proceeds of any award or daim , -,- -- .,-
<br /> - for damages connected with a con�emnation or cKher taking of all or any part of the Property. S�ch proceeds sha11 be •, . ..
<br /> considered paymeats and will be applied as provi�in this Deed of Tn�.st. This assignment of proceeds is subject to We . . � . '
<br /> terms of any prior security agreement• ,
<br /> 21.INSIJRANCE.Trus[or agrees[o maintain�urance as follows: ' • :.`','. _".
<br /> A. Truswr shall keep the Property insured against loss by fire,theft and other ha�ards and risks reasonably associaied .r .- ,�'°
<br /> with ihe Pmg�ty due to its type and location.Other hazards and msks may include,for example.coverage against . . _.___�_ -
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<br /> loss due w floods or flaoding. This in��,a„ce shall he maintained in the amonnts and for the periods that . `�*°�� :
<br /> Beneficiary requires. The insuiance carrier pmviding the insurance shall be chosen by Trustor subject w �
<br /> Beneficiary's approval, wluch shall not be un�easonably withheld. If Tmstor fails to maintain We caverage . - _�.__._ .
<br /> described above, Beneficiary may> at Beneficiary's optioa, obtain coverage to protect Beneficiary's rights in the ,���-_�_-_:...
<br /> Property aoco r d i ng W t he teans o f t h i s D e e d of Tmst. . ' •'�'�%;•.` ��
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<br /> . � AIi insnrance policies and reaewals shall be acceptable to Beneficiazy and shall inclnde a standard "mortgage _ '. � ', .
<br /> :.,.; clause" and, where applicable, "beneficiary loss payez ciause." Tnuwr shall immediately notify Beneficiary of � ..� ' �
<br /> �:`a.= p n c e ll a t i o n o r t e r m i n a t i o n o f t h e i n s u r a n ce. B e n e fi c i a r y s h a ll l n a v e t h e ri g h t t o h o l d t h e p o li c i e s a n d r e n e w a l s.ff � �•-�<_�--:
<br />``, ' Beneficiary requires, Trustor shall irnmediately give to Beaeficiary all receipts of paid premiums and renewal -
<br />' notices. Upon]oss,Trustor shall give i+„me�1�a P notice to the*n�,*�++ce carrier and Beneficiary. Beneficiary may . � .�.'�
<br /> .. make proof of loss if not made immediately by Tn�stor. � . ��?�,
<br /> °'t:i Unless Beneficiary and Tmstor otherwise agree in writing, insurance proceeds s�311 be applied w restoration or ' . �� �;,'_
<br />'. :; repair of the PmPerty damaged if the restoration or ze��sr is eoonomically feasib3Q and BeneSciary's security is not ,. �:= `
<br /> lessened.If the�+estoration or repair is not eronomically feasible or Beneflciary's security would be lessened, We ` �y :
<br /> � insurance proceeds shall be applied to the Secured Debt,whether or aat then due.arith any excess paid to Tnutar. ' .�
<br /> � o or does no t a n s w e r w i t h i n 3 0 d a s a n o t i c e f r o m B e nefi c i a ry that We ins�rance � `'�
<br /> I f T r u s t o r a b an d o n s t h e P r e t t y, Y . • �, a+, ..
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<br /> carrier has offered to settle a claim,then Beneficiary u3ay collecx the insurance pracceds. Beneficiary may use the . � . ;' � .
<br /> proceeds to repair or reswre the Property or w pay the Secured Debt whether or not then due.The 30-day��d - _ ";`; i
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<br /> ' cvill begin when the notice is given. . �:• `'` ,
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<br /> Unless Beneficiary and Tmstor otheiwise agree in writing,any applicadon of proceeds w princig�sball not extend '��;,,� :.� �ie{ '
<br /> or postpone the due date of scheduled payments or change the amouat of the payments. If the Property is acquired •` _. , ��'; _
<br /> by Beneficiary,Trustor's right to any;nm�*�nce policies and proceeds resulting from damage to the Froperty before -~
<br /> • • a�e acquisition shall pa�s to Beneficiary w the extent o f t he Secur e d D e bt i m m e d iate ly be fore t he acquisition. �- ���,_.--
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<br /> --�- B. Tr.issor�!��compreb?2sive geaPral�Rz�9e:jy insurance namin2 Beneficiazl►as an additional insured in �.,��'�k;=_--._:.:�-
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<br /> `' an amnunt acxeptable to BeneSciary,insuring ag2iast claiuns arisi^�from any accideat or oaaurence in or on the ✓'.'�_ ���-�-"
<br /> � ' Property `v.��:. :'G�:�:=.�
<br /> • C. Tmstor agrcess w maiatain rental loss or business interruprioa insvr�ce,as required by Beaeficiar}+. in an amount �..,,,,�,,,__ ..'��-
<br /> t equal to at least coverage of one year's debt semce,and required escrow account deposits(if agreed to separately : ^.�„n �*�-�!_
<br /> in wrltinp�,under a form of policy acceptable to Beneficiary. :»�> �. -
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<br /> 22.NO ESL'�tOW FOA TAXES AND INSURANCE. Unless otherwise provided in a separate agreemen�Trustor will not w•-_ -__
<br /> �. f be res�ured to pay rz�BeneSciary funds for tfuces and insurance in escrow. ,:�''i�:�`�
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<br /> .�.,.•� Z3.FdNA:'�S:IAL REPORTS AND ADDTI'IONAL DOCUMENTS.Trustor will pmvide to Beneficiary upan request, aay •� � : �5�
<br /> fi n a r c i�l s t a t e m e nt or informadoa Benefici a ry ma y deem necessary. Tnutor warrants that all financlal stateme�� and �� , :�' �y
<br /> . info�atloa Tn�stor provides to Beneficiary are, or will be, acxurate, correct. and complete. Tn�stor agroes to sign, .��'�"";;.;��
<br /> deliver, and file as Bene ficiary may reaso n a b ly request any a d di do n a l documen t s or c e r t ifica t lons that Benefici a ry ma y -"°�'�'"'- °—-'
<br /> � consider necessary aa perfect,coatinue,and preserve Trustor's obligations under this Deed of Tmst and Beneficiary's liea , . ' �r'..
<br /> stan:s on the Property. If Trustor fails to do so,Beneficiary may sign,aeliver, and file such documents or certitic�tes in {�
<br /> Tns�az's name and Tn�stor hereby irrevocably appoints Beneficiary or Benefic�ary's agent as attomey in fact to do the � r,- -
<br /> thic�necessary to comply with tbis section. '� � ' {.• : �
<br /> � ?A.dOIN'd'AND DVDIVIDUAL LIABILITY;C�SIGNERS;SUCCESSORS AND AS3iGNS BOUND.Ali duties uuder . ' � � - .'
<br /> � this Deed of Ttust are joint and 9adividual. If Ttustor signs this Deed of T:ust but dces not sign the Evidem;e of Debt, • , -. .
<br /> Trus!or doea so only to mortgage Tn�stor's interest in the Property to setvre payment of the Secured Debt an�Trustor � •. ' ,
<br /> d�s�ot agree w be personally liable on the Secured Debt.Tivstar agees that Benetn "cr�sy aad any party w this ID�d of . .
<br /> Tnsz m�y extead, modify or make any change in the te�s of this Deed of Trust or the Evidence of Debt �:3out �
<br /> Tmstor's consent. Such a change will not release Trustor from the terms of this Deed of TtusY.'Ilie duties aad be�:�;s of � �
<br /> this Dced of Tmst sball bind and benefit the successors and assigns of Tnas'.:or and Heaeficiary. �
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<br /> If this Deed of Trust secures a guaranty between Beneficiary and Tnutor and does no2 direcdy secure the obligation which . . � �
<br />� ' is guarantied,Tnistor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim a;ainst "
<br /> Trustor or aay party indebted nnder the obligation including.but aot limited to,and-d�ficiency or one-action laws. '
<br /> Z5.APFLICA�LE LAW; SEVERABILI'TY; INTERPRETA7'ION. 'Ihis Deed of Trust is govemed by the laws of the • �
<br /> jurisdicdoa in w6ich Beneflciary is located,except to the extent otherwise required by the laws of the jurisdiction ahere � '
<br /> the Properry is located. This Aeed of Trust is complete and fully integrated.Ttis Dced of Trust may not be aznended or .
<br /> modified by oral ageement. Any section or clause in this Deed of Trust. attachments, or any agre�ment related to the ' �. .. .
<br /> Secured Debt that conflicts wit6 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 Dced of Trust cannot be enforced according to its terms, , �
<br /> j that section or clause will be severed and will not affect the enforceabiliry of the remaiader of this Dced of Trust. -
<br /> j 1Nhenever used,tbe singular shall include the plural and the plural the singular.7'6e captions and headings of the sec6ons �
<br />� � of this Deed of Trust are for convenience only and are not to be used to interpret or define the terms of ti�js Deed,of Tnut. �
<br />� • 1 Time is of the essence in this Ueed of Trus[. ' ' F�'�b y„r� - ' . . . �. .. _
<br /> , a t993 Banken Sy;tems,ine.St C�ouO.MN It 800-397�234L Form AGlCO OT NE 9n3190 � ,�CIT ' .
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