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20030007'4
<br />B. All future advances from Beneficiary to Truster or other future obligations of Truster to Benefrciar under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor ofyBeneficiary
<br />executed after this Security Instrument whether or not this Security Instrument is specifically referenced. If more
<br />than One person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all
<br />future advances and future obligations that are given to or incurred by any one or more Trustor, or any one or
<br />more Trustor and others. All future advances and other future obligations are secured by this Security Instrument
<br />even though all or part may not yet be advanced. All future advances and other future obligations are secured as if
<br />made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to
<br />make additional or future loans or advances in any amuorl. Any sec: commitment most he agreed to in a separate
<br />writing.
<br />C. All other obligations Truster owes to Beneficiary, which may later arise, to the extent not prohibited by law,
<br />including, but not limited to, liabilities for everdrafts;tc(ating to any deposit account agreement between Truster
<br />and Beneficiary.
<br />D. All additional sums advanced and expenses'jpcurred by Aeneficiary for insuring, preserving or otherwise
<br />protecting the Property and its value andd any ottier stuns advanced and expenses incurred y Beneficiary under the
<br />terms of this Security Instrument.
<br />In the even[ that Beneficiary falls to provide an necessary notice of the right of rescission with respect to any additional
<br />indebtedness secured under paragraph 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 />DEED OF TRUST COVENANTS. Truster agrees that the covenants in this section we 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 o£ 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 hrstrmnent.
<br />Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document
<br />that created a prior security interest or encumbrance on the Property, Tenstor agrees to make all payments when due and
<br />to perform or comply with all covenants. Trustor also agrees not to allow any modification or extension o£, nor to
<br />request any future advances order any note or agreement secured by the lien document without Beneficiary's prior
<br />written approval. -
<br />Claims Against Title. feaster will pay all taxes (including any tax 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 require Truster to provide to Beneficiary copies of all notices that such amounts are 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
<br />Security Instrument. Truster agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses
<br />Trustor may have against parties who supply labor or materials to maintain or improve the Property.
<br />Property Condition, Alterations and Inspection. Truster will keep the Property in good condition and make all
<br />repairs that are reasonably necessary. Truster shall not commit or allow arty waste, impairment, or deterioration of the
<br />Properly. Truster agrees that the nature of the occupancy and use will not substantially change without Beneficiary's
<br />prior written consent. Truster will not pemait any changge in any license, restrictive covenant or easement without
<br />Beneficiary's prior written consent Truster will notify Beneficiary of all demands, proceedings, claims, and actions
<br />against Truster, and of 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
<br />Purpose of inspecting the Property. Beneficiary shall give Truster notice at the tune of or before an inspection
<br />specifying a reasonable purpose for the inspection. Any inspection of the Property shall he entirely for Beneficiary's
<br />he refit and 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
<br />Instrument, Beneficiary may, without notice, perform or cause them to be performed. 'frustor a�rpoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amount necessary for performance Beneficiary s right to perform for
<br />Truster shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary
<br />from exercising any of Beneficiary's other rights under the law or this Security Instrument.
<br />Leaseholds; Condominiums; Planned Unit Developments. Truster agrees to comply with the provisions of any lease
<br />if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a planned unit
<br />development, Trustor will perform all of Truster's duties under the covenants, by -laws, or regulations of the
<br />condominium or planned unit development.
<br />Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public
<br />entities to ppurchase or take any or all of the Property through condemnation, eminent domain, or any other means.
<br />Truster authorises Beneficiary to intervene in Trusters name in any of the above described actions or claims. Trustor
<br />assigns to Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of
<br />all or an y pert of the Property. Such proceeds shall be considered payments and will be applied m provided in this
<br />Security instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security
<br />agreement or other lien document.
<br />Insurance. Truster shall keep Property insured against loss by fire, flood, theft and other Inusrdv 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 requires. The insurance carrier providing the insurance shall be chosen by Truster subject to
<br />Beneficiary's approval, which shall not be unreasonably withheld. If Truster fails to maintain the coverage described
<br />above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property
<br />according 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"
<br />and, where applicable, "loss payee clause." Truster shall immediately notify Beneficiary of cancellation or termination
<br />of the insmance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, 'I rustor shall
<br />immediately give to Beneficiary all receipts of paid prennums and renewal notices. Upon loss, Trustor shall give
<br />inarnediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss i f not made immediately
<br />by Trustor.
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or
<br />to the Secured Debt, whether or not then due at Beneficiary/ a option. Any application of proceeds to principal shell not
<br />extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be
<br />paid to the Truster. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds
<br />resulting from dermage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt
<br />immediately before the acquisition. l r 4)
<br />( 1994 Smkan SySt"T" Inu, St. CIo,d MN FCrM eCPREDr -NE 111389 _NJ 4
<br />C4551NE)(9903).04
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