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99 1113��
<br /> B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br /> promissory note, contract, guazanty, or other evidence of debt executed by Trustor in favor of Beneficiary executed
<br /> after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one
<br /> person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future
<br /> advances and future obligations that are given to or incurred by any one or more Trustor, or any one or more Trustor
<br /> and others. All future advances and other future obligations are secured by this Security Instrument even though all
<br /> or part may not yet be advanced. All future advances and other future obli�ations are secured as if made on the date
<br /> of this Security Instrument. Nothing in this Security Instrument shall constitute a commitrnent to make additional or
<br /> future loans or advances in any amount. Any such commitment must be agreed to in a separate writing.
<br /> C.All other obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law,
<br /> including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and
<br /> Beneficiary.
<br /> D.All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br /> the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br /> Security Instrument.
<br /> In the event that Beneficiary fails to provide any necessary notice of the right of rescission with respect to any additional
<br /> indebtedness secured under paza�raph B of this Section, Beneficiary waives any subsequent security interest in the
<br /> Trustor's principal dwelling that is created by this Security Instrument (but does not waive the security interest for the
<br /> debts referenced in paragraph A of this Section).
<br /> 5. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the
<br /> Secured Debt and this Security Instrument. If Trustor breaches any covenant in this section, Beneficiary may refuse to
<br /> make additional extensions of credit and reduce the credit limit. By not exercising either remedy on Trustor's breach,
<br /> Beneficiary does not waive Beneficiary's right to later consider the event a breach if it happens again.
<br /> Payments. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
<br /> terms of the Secured Debt and this Security Instrument.
<br /> Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document that
<br /> created a prior security interest or encumbrance on the Property, Trustor agrees to make all payments when due and to
<br /> perform or comply with ali covenants. Trustor also agrees not to allow any modification or extension of, nor to request
<br /> any future advances under any note or agreement secured by the lien document without Beneficiary's prior written
<br /> approval.
<br /> Claims Against Title. Trustor will pay all taxes (including any talc assessed to this Deed of Trust), assessments, liens,
<br /> encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary
<br /> may rec�uire Trustor to provide to Beneficiary copies of all notices that such amounts aze due and the receipts evidencing
<br /> Trustor s payment. Trustor will defend title to the Property against any claims that would impair the lien of this Security
<br /> Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor
<br /> may have against parties who suppIy labor or materials to maintain or improve the Property.
<br /> Property Condition, Alterations and Inspection. Trustor will keep the Pro�erty in good condition and make all repairs
<br /> that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of the Property.
<br /> Trustor agrees that the nature of the occupancy and use will not substantiaily change without Beneficiary's�rior written
<br /> consent. Trustar will not pernut any change in any license, restrictive covenant or easement without Beneficiary's prior
<br /> written consent. Trustor will notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of
<br /> any loss or damage to the Property. -
<br /> Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose
<br /> of inspectmg the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specify mg a
<br /> reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and
<br /> Trustor will in no way rely on Beneficiary's inspection.
<br /> Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument,
<br /> Beneficiary ma�, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as attorney in fact
<br /> to sign Trustor s name or pay any amount necessary for performance. Beneficiary's right to erform for Trustor shall not
<br /> create an obligation to perform, and Beneficiary's failure to perform will not preclude Bene�ciary from exercising any of
<br /> Beneficiary's other rights under the law or this Security Instrument.
<br /> Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions of any lease if
<br /> this Security Instrument is on a leasehold. If the Property includes a umt m a condominium or a planned unit development,
<br /> Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the condominium ar planned
<br /> unit development.
<br /> Condemnation. Trustar will give Beneficiary prompt notice of any pending or threatened action, by private or public
<br /> entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Trustor
<br /> authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or claims. Trustor assigns to
<br /> Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any
<br /> part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security
<br /> Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br /> other lien document.
<br /> Insurance. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br /> associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the
<br /> periods that Beneficiary rec�uires. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br /> Beneficiary's a�proval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described
<br /> above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according
<br /> to the terms of this Security Instrument.
<br /> All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and,
<br /> where applicable, "loss payee clause." Trustor shall immediatel� notify Beneficiary of cancellation or termmation of the
<br /> insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiazy requires, Trustor shall
<br /> immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br /> immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by
<br /> Trustor.
<br /> Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to
<br /> the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not
<br /> extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess wiil be paid
<br /> to the Trustor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting
<br /> from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br /> before the acquisition. �pa9e z of 4�
<br /> �01994 Bankers Systems,Inc.,St.Cloud,MN Form OCP-REDT-NE 1/13/99
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