200203453 - Laserfiche WebLink

Browse

200203453 R All fiuture advances firm Beneficilisy to Trustor or other fistu a obligations of Trustor to Beneficiary unda any promissory atlte, ooaaact, a other evidamce of debt erecuitsci by Truster in favuac of He�eficisiy executed after duds Security whether or not Ibis Security Instrument is specifically referenced. If more than onie parson �a this Instramas t, each Trudw agrees that this Security Instrument will segue all fiiture advances sad fiira oblipfions dot we given to or incurred by any one or more Trustor, or any o>ue or more Threw and others. All finuure advances and other firture obligations are secured by this Security Feat even though all or part my not yet be advanced All future advances and other future obligations are secured as if made on the date of this Security Instrum>tent. Nothing in this I Seamr ty I88rummru shall constitute a commitment to make additional or firture loaner or advances in any amount. Any soul commitment must be agreed to in a separate writing C. All odeer obligations Trustor owes to Benefi =which may later arise, to the extent not prohibited by law, but not limited to, liabilities for o relating to any deposit account agreement between Trustor and Beneficiary. D. All additional sums advanced and expenses incurred y Beneficiary for insuring, preserving or otherwise the and its value other sums advan d and incurred -by Beneficiary undo the of security ns In the event dud Beneficiary fails to provide any necessary notice of the right of rescission with respect to any additional indebtedness secured under paragraph B of this Section, Beneficiary waives any subsequent security interest in the Trustoc �al dwdling that s created by this Security Instrument (Mrt does not waive the security interest for the debts in paragraph A of this Section). 5. DEED OF TRUST COVENANTS. Trustor that fire covenants in this section. are material obligations under the Secured Debt and this Security Instrument. If ivstor breaches covenant in this section, Beneficiary may refire to make additional extensions of coedit end reduce the credit limit. By not either remedy on Trustoe a breach, Beneficiary does not waive Beneficiary's right to Iota consider the event a b� it happens again. Payffieab. Trustor agras that all p uurrla the Secured Debt will be paid when due and in accordance with the terms of the ==and and this Se Instrument. Prior Security Interests. With regard to any other deed of tr security agreement or other lien document that created a prior security interest or encumbrance oonn� trust, security Trustor agrees to make all payments when due and to perform or comply with all covenants. Trustor also agrees not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Beneficiary' a prior written approval. Claims Agsimt Title. Truster will pay all taxes (including any tax assessed to this Deed of Trust), assessments, liens, lease payments, ground re�uts, utilities, and other charges. relating to the Property when due. Beneficiary mayrequ Trustor to provide to Benefi ' copies of all entices that such amounts are dune acid the re expts evidencing Tnurctor' s mpaynment Truster will defence to the Property against claims that would impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary!, as requested Beneficl'ary, any rights, claims or defenses Trustor may have against parties who supply labor or materials to maintain or improve the Property. Property Condition, Alteration and Imp letlou. Truster will keep the Property in good condition and make all repairs are reasonably wry. Trustor shall not commit or allow any waste, ' impairment, or deterioration of the Property. Truster agrees that the nature of the occupancy and use will not change without Beneficiary's prior written consent. Truster will not permit any n any license, reshictive covenant or easenment withouut Beneficiary's prior written consent. Truster will nohoi�crary of all , proceedings, claims, and actions against Truster, aad of any lose or damages to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary" s option, exits the Property at atiy reasonable time for the Purpose of ' the Property. Beneficiary shall ive Truster notice time of or before an ' oossppoec��,iion specifying a�e purpose for the inspection. Any-inspection of the Property shall be entirely for tseneficiaryr's benefit and Trustor will in no way rely on Beneficiary s inspection. Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument, Beneficiary may, without notice, perform or cause them to be Trustor Beneficiary as attorney in fact to sign Trustee a name or pay any amount necessary for Benefi ' s right to perforni for Trustor shall not create an obligation to perform, and Benefi ''ary s failure to perform will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or this Security Instrumient. I =eholds; Condosainians; Planned Unit Developments. Trustor agrees to comply with the provisions of any lease if this Security Instrument is on a leasehold If the Property includes a unit in a condominium or a planned unit development, Trustor will perform all of Trustoe s duties undo the covenants, by -laws, or regulations of the condominium or planned unit development. Coadaumnatiouil. Trustor will give Benesficiary t notice of any pp� or dweateoed action, by private or public entities t or take any or all of the throuugh oaurci on, eminent domain, or any other means. Trustor authorizes Beneficiary to intervene in Trustoe a name. in any of the above described actions or claims. Trustor assigns to Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or anyy part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security Instrumment. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. Imumnee. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated with time Property due to its type and location. This insurance shall be maintained in the amounts and for the periods that Beneficiary recluues. The insurance carrier pmvi�g the insurance shall be chosen by Truster subject to Beneficiary's a�mproval, which shall tot be unreasonably withhelhe d. If Truster fails to maintain the co described above, Beneficiary may, at Beneficiary s option, obtain coverage to protect Beneficiary's rights � Property according to the terms of this Security Instrument. All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and, where applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination of the insurance. Benefi ''azy shall have the right to hold the policies and renewals. If Bmeficr'ary requires, Truster shall immediately give to Beneficiary all re expts of paid premiums and renewal notices. Upon loss, Trustor shall give immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by Trustor. Unless otherwise agreed in writing, all insurance p shall be applied to the restoration or MW of the or to the Secured Debt, whether ar not then dune, at B ary' s option. Any application of proceeds to principal al not extend or postpone the due date of the scheduled pay t nor change the amount of any payment. Any excess will be paid to the Trustor. If the Property is by Beneficiary, Trustoe a right to any insurance policies and proceeds resulting from to the Property b�the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before acquisition Of 1991 Broker: Systems, Inc., St. Cloud, MN Form OCP- REDT -NE 1/13/99 � `(ft_C465(NE) (9902).01