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<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of
<br />inspecting the Property. Beneficiary shall give Truster notice at the time of or before an inspection specifying a reasonable purpose
<br />for the inspection. Any inspection ofthe Property shall be entirely for Beneficiary's benefit and Truster will in no way rely on
<br />Beneficiary's inspection.
<br />Authority to Perform. If Truster fails to perform any duty or any of the covenants contained in this Security Instmment,
<br />Beneficiary may, without notice, perform or cause them to be performed. Truster appoints Beneficiary as attorney in fact to sign
<br />Torsion's time or pay any amount necessary for performance. Beneficiary's right to perform fin Tmstor shall not create an
<br />obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of Beneficiary's other
<br />rights under the law or this Security Instrument.
<br />Laaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions of any base ifthis
<br />Security Instrument is on a Icarchold. If the Property includes a unit in a condominium or planned unit development,'I'mstor will
<br />perform all of nistor's duties under the covenants, by -laws, or regulations ofthe condominium or planned unit development.
<br />Condemnation. Toaster will give Beneficiary prompt notice ofany pending or threatened action, by private or public entities to
<br />purchase or take any or all ofthe Property through condemnation, eminent domain, or coy other means. Trustor authorizes
<br />Beneficiary to intervene in Torsion's name in any of the above described actions or claims. Trustor assigns to Beneficiary the
<br />proceeds of any award or claim for damages connected with a condemnation or other taking of al I or any part ofthe Property. Such
<br />proceeds shall be considered payments and will he applied as provided in this Security Instrument This assignment ofproceeds is
<br />subject to the terms ofany prior mortgage, deed of trust, security agreement or other lien docutment. 17384
<br />Insurance. Truster shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated
<br />with the Property due to its type and location. This insurance shall be maintained in the amounts and for the periods that
<br />Beneficiary requires. The insurance tamer providing the insurance shall be chosen by Truster subject to Beneficiary's approval,
<br />which shall not be unreasonably withheld. If Tmstor fails to maintain the coverage described above, Beneficiary may, at
<br />Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to the terms of this Security
<br />Instrument
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and, where
<br />applicable, "loss payee clause." Tmstor shall immediately notify Beneficiary of cancel lation or termination of the insurance.
<br />Beneficiary shall have the right to hold the policies and renewals. If beneficiary requires, Truster shall immediately give to
<br />Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Truster shall give immediate notice to the insurance
<br />carrier and Beneficiary- Beneficiary may make proofofloss ifno[ made immediately by Trustor.
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair ofthe Property min the
<br />Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or
<br />postpone the due date ofthe scheduled payment nor change the amount ofany payment Any excess will be paid to the Truster. If
<br />the Property is acquired by Beneficiary, Truster's right to any insurance policies and proceeds resulting from damage to the
<br />Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition.
<br />Financial Reports and Additional Documents. Trustor will provide to Beneficiary neon request, any financial statement or
<br />information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional documents or
<br />certifications that Beneficiary may consider necessary to perfect, continue, and preserve Trustei s obligations under this Security
<br />Instrument and Beneficiary's lint status on the Property.
<br />6. WARRANTY OF TITLE. Trustor warrants that'I'rustor is or will be lawfully seized ofthe estate conveyed by this Security
<br />Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of sale. Truster also
<br />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 payable
<br />upon the creation of, or contract for the creation of, a transfer or sale of the Property. This right is subject to the restrictions
<br />imposed by federal law (12 C.FA.591), as applicable.
<br />8. DEFAULT. Truster will be in default if any ofthe following occur:
<br />Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt that is an
<br />open end home equity plan.
<br />Payments. Any Consumer Borrower on any Secured Debt that is an open end home equity plan fails to make a payment when due
<br />Expe,,— ®1994 Bankeea Syalcmv, In, , SI. Cloud, MN hmn USBOCP -D I -NE 9/5/2001 (page 0 of 6)
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