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<br /> � L. Notw�thsst�din any�of the language°contaiaed in this Deed of Tn�st to the conuary,the tern�s of this secaon shall . • . , ' - _.
<br /> survi�a ri y fg��Tosure ot satisfaetion of this Deed of Tn�st regazdless of any passage of title to Lender or any .� � , ,
<br /> J disposinoa by I.ender of any or aU of the Property.Any c laims an d de fenses to t he conuary are here b�r w a i v e d. ; � . �.,
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<br /> � 20.COIVDEI6�INATION. Grantor will give I.ender prompt notice of any aciion, real or threasened, by private or public , . , , •.
<br /> i entities to purchase or take any or all of the Praperty,including any easements. through conclemnation,eminent domain, .
<br /> . ur any other means.Grantor further agrces to norify Lender of any pmceedings instimted for We establishm�nt of any �'
<br /> � sewer, water,conservation, diuh, drainage. or other district relating to or binding upon the Property or any part of it. �
<br /> _ Grantar authorizes I.ender co iniervene in Grantor's name in any of the above described adions or claims and to collect i _ _
<br /> � and receive a11 sums resultin8 from the action or claim.Grantor assigns io Lender the prooeeds of any award or claim for � '
<br /> ' damages connected with a condemnation or other taking of all or any part of the Property. Such procee�s sha11 be . .
<br /> _ j wnsidered payments and will be applied as provided in this Deed of Tmst. 'Ihis assignmeat of procxeds is subject to the ..
<br /> `� terms of any prior security agreement. ,
<br /> � Zl.INSIIRANCE.Grantor agrees to maintain ins�rance as follows: . _
<br /> A. Grantor shall keep the impmvements now eJdsting or hereafter built on the Property insured againsc loss by fire,
<br /> • � hazards inctuded within the term "extended coverage" and any other hazands, including floods Qr flooding, for , _
<br /> :� which I.ender requires insurance.This insurance shall be ma;nra;ned in the amounts and for the periods Wat Ixnder � . , . ,� ..
<br /> � requires. The insurance c�rrier providing the�++�,*�nve shall be chosen by Grantor subject to Lender's approval, _ ;,� , ,
<br /> which shall not be unreasonably withheld.If Grantar fails to maintain the coverage dQSCribed above, L.ender may, °' �
<br /> ,�-� at Lender's option,obtain wverage to protect Lender's rights in the Property according to the terms of this Deed of , . .. ; . ��
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<br /> A11 ins�rance policies aad renewals shall be acceptable to Lender and shall include a standard"mortgage clause" �' •, . � ��:�,�
<br /> � and, where applicable, "lender loss payee clause." Grantor shall immediately notify Lender of cancellation or , .. :�,=�
<br /> termination of the insurance. 1.ender si�a11 have the right to hold the policies and renewals. If Lender requires, , . � __ r d-
<br /> • Grantor shall prompdy give to Lender all receipts of paid premiums and renewal notices.Upon loss,Gtantor shall .��,;�°
<br /> '' give proiapt notice to the in�.a.+ce carrier and Lender. Lender may make proof of loss if aot made promptly by . _ __
<br /> " ; Granwr. " `` .
<br /> � Unless Lender and Granwr othenvise agree in writing, ��*a^sp pmceeds shall be a�plied to restoration or repair , •• .� � ;�
<br /> of the Property clamaSed if the restoratioa or repair is economically feasible and Lender's securiry is not lessened. . �,�-• _
<br /> 3 If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance � >, Y; �__
<br /> proceeds shall be applied to the Secured IIebt,whether or not then due,with any excess paid to Grantor. If Grantor . �. ; ���'.s;�`�:-;'"
<br /> � � abandons the Properry, or does not answer withia 30 days a notice from L.euder thai the insurance carrier has ��},
<br />• � .F offered to settle a claim,then Lender may callect the ins�uance praceeds•Lender may use the proceeds to repair or `�'
<br /> � restore the Pro erty or to pay the Secured Debt whether or not then due.The 30-day period will begin when the '��,���.�e�����;�i#;f;�
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<br /> notice is given. •: �• .. � ^-'
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<br /> Unless Lender and Grantor otherarise a ee in writing.any application of roceeds ta rinci al shall noi extend or -;, i��� '.
<br /> Sr P P P �-,.. , ,;, .
<br /> postpone the due date of scheduled payments or change the amonnt of the payments. If the Property is acquired by '��•]t_
<br /> Lendzr, Grantor's right to any +++��*�nce policies and proceeds resulting from damage to the Property before the �� , --
<br /> acquisition shall pass to Ixnder to the extent of the Secured Debt immediately before the acquisition. • `—" .
<br /> B. Granwr agrees to maintain comprehensive general liahility in�+,*A�naming I.ender as an additional insvred in an �
<br /> ' araount acceptable to Lender,insuring against claims arising from aay accident or occurtence in or on the Property. ;�', :�"` '
<br /> C. Crantor a�rees to maintain rental loss or business interruption insurance,as required by Lender,in an amount equal ___ -'�''�
<br /> _._ rr� at iQasr r.�veraae of one vear's debt service, and reqwred escrow account deposits(if agreed to separately in _
<br /> � writiag),under a form of policy acceptable to Lender. ��v���
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<br /> �� ! 22.NO ESCROW FOR TA7�S AND INS[JRANCE. IInless otherwise provided In a separate agre�ment,Grantor will not .-;..,�,,.�����_
<br /> " � be required to pay to Leader funds for taaes and insurance in escrow. • ' - _A
<br /> 7,3.FINADiCIAL REPORTS AND ADDTf[ONAL DOCUMENTS. Grantor will provide to Lender upon request, any _ �����
<br /> financial statement or information Lender may deem necessary. Grantor watrants that all financial statements aad ti.. ,����-�
<br /> � ' igfomiation Grantor provides to Lender are or will be accurate,comect,and complete.Cnantor agrees to sign,deliver,and _ ,.;• :�;, �
<br /> ' file as Lender may reasonably request any additional documents or certifications that Lender may consider necessary to .• '" �`'"
<br /> erfect,wntimie, and reserve Grantor's obli ations under this Deed of Trust and Lender's lien status on the Pro If �,��.� j'��'
<br /> tim p g PertY. • .e���r°-..
<br /> Granwr fails to do ao, Lender may sign,deliver. and file such documents or certificates in Grantor's name and Grantor ' �
<br /> hereby irrevocably appoints Lender or Leader's agent as attomey in fact to do the things nece.ssary to comply with this '
<br /> • section. ' . _
<br /> � 24.JODVT AND IIVDNIDUAL LIABILITY; C�SIGNEItS; SUCCESSORS AND ASSIGNS BOUND. All duties uader -
<br /> , this Deed of Tn�st are joint and individual. If Grantor signs this Deed of Trust but does not sign the Evidence of Debt. • —
<br /> Grantor does so only to mortgage Graator's interest in the Property to secure payment of the Secured Debt and Grantor
<br /> ' does aot agree to be personally liable on the Serured Deb3.Granwr agrees Wat Lender and any party to ttils Deed of Tmst .
<br /> � may eatend, modify ur make any change in the temis of thia Deed of Trust or the Evidence of Debt without Grantor's
<br /> consent.Such a change will not release Grantor from the terms of this Deed of Trust.'Ibe duties and benefits of thia Deed . ,
<br /> of Trust shall bind and benefit the successors and assigas of Grantor and Lender. �
<br /> If this Deed of Trust secures a guaranty between I.ender and Grantor and does not directly secure the obligation which is ' � ._
<br /> guarauded,Grantor agrees to waive any rights that may prevent lxnder from bringing any action or claim against Grantor .'
<br /> or any party indebted under the obligation including,but not limited to,anti-deficiency or on�action laws.
<br /> � 25.APTI.ICABLE LAW; SEVERABILITY; IIVTERP,RETATION. '�is Deed of Trust is govemed by the laws of the � . �
<br /> jurisdiction in which Lender is located,except to the eatent otherwise required by the laws of the jurisdiction where the �
<br /> • Property is located. 7'his Deed of 1Tmst is cnmplete and fully integrated. This Deed of Trust may not be amended or • � t
<br /> modified by oral agreement. Any section or clause in this Deed of Trust, attachments. or any agreement related to the • .
<br /> Sectued Debt that conflicts with applicable la�v will not be effective, unless that law expressly or impliedly pemuts the � • �"
<br /> variations by written agreement. If any section or clanse of ihis Deed of Tnut cannot be enforced according to its terms. � ,
<br /> that section or Clause will be severed and will not affect the enforceabiliry of the remainder of this Deed of Tn�st. , . •
<br /> Whenever used, the singulaz shall include the plural and the plural the singular.The captions and headings of the sections l '
<br /> of this Deed of Trust are for convenience only and are not to be used to intzrpret or define the terms of this Deed of Trust. � —
<br /> Time is of the essence in this Deed of Trust. ,: . • ' • �
<br /> � nnge b o/6 ; ' ' .... . - .
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<br /> ;D 7993 eankora Systoms,inc.St Ciaxl,MN It�800397-23an Form AG�CO�DT�NE 4�5�93
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