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99 112271
<br /> consent. Trustor will not permit 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�urpose
<br /> of inspecring the Property. Beneficiary shall give Trustor norice at the time of or before an inspection specifying 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 inspecrion.
<br /> Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument,
<br /> Beneficiary may, without notice, perform or cause them to be performed. Trustor ap�oints Beneficiary as attorney in fact
<br /> to sign Trustor's name or pay any amount necessary for performance. Beneficiary's nght to perform for Trustor shall not
<br /> create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of
<br /> Beneficiary's other rights under the law or this Security Instnunent.
<br /> Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions of an.y lease if
<br /> this Security Instnunent is on a leasehold. If the Property includes a unit in 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 or planned
<br /> unit development.
<br /> Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public
<br /> entities to purchase ar take any or all of the Property through condemnation, eminent domain, or any other means. Trustar
<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 msurance shall be maintained in the amounts and for the
<br /> periods that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br /> Beneficiary's approval, 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 Secunty 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 immediately notify Beneficiary of cancellation or termination of the
<br /> insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
<br /> immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br /> immediate nouce 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 will 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 befare the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br /> before the acquisition.
<br /> Financial Reports and Additional Documents. Trustor will provide to Beneficiary upon request, any financial statement
<br /> or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional
<br /> documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Trustor's obligations
<br /> under this Security Instrument and Beneficiary's lien status on the Property.
<br /> 6. WARRANTY OF TITLE. Trustar warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br /> Security Instnunent and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br /> sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br /> 7. DUE ON SALE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be immediately due and
<br /> payable upon the creation of, or contract for the crearion of, a transfer or sale of the Property. This right is sub�ect to the
<br /> restnctions imposed by federal law(12 C.F.R. 591), as applicable.
<br /> 8. DEFAULT. Trustor will be in default if any of the following occur:
<br /> Fraud. Any Consumer Bonower engages in fraud or material misrepresentation in connection with the Secured Debt that
<br /> is an open end home equity plan.
<br /> �01994 Banke�s Systems,Inc.,St.Cloud,MN Form GT-OEMTGLZNE 4/24/99 ��J �_ GT-15-28-093(3/99) (paye 3 of 6/
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