|
<br />200601828
<br />
<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />prOlnissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after this
<br />S~cu~ity I~strument whether o..r not this Security Ins~rUIlJ-ent ,is specifically referenced. If more than one person signs
<br />this. Se~unty Instrume,nt, each T~ustor agrees that this Secunty Instrument will secure all future advances and future
<br />obhgatlons that are given to or lllcurred by anyone or more Trustor, or anyone or more Trustor and others. All
<br />future advances and other future obligations are secured by this Security Instrument even though all or part may not
<br />yet be advanced. All future advances and other future obhgations are secured as if made on the date of this Security
<br />InstrUlJlent. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or
<br />advances in allY a~oun~" Any such cOllllllitment)~ust be al:;reed to in a separ!lte writing. , ,
<br />C. All other obhgatlOns I rustor owes to Benehclary, which may later anse, to Ihe exlenl 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 SUI~lS advanced and expenses incurred by Beneficiary fl?r insuring, preser:v\ng or otherwise protecting
<br />the Propcrty and ns value and any other sums advanced and expenses lllcurred by BenefiCiary under the tenns of thiS
<br />Security InstrUIllent.
<br />
<br />In the event that Beneficiary fails to provide any necessary notice of the right of rescission with respect to any additional
<br />!I~debtedness, s9cured un~er paragraph B of this. Sectio~, Beneficiary waives any subs~quent secur!ly .interest !n the
<br />r rustor' s pnnclpal dwelhng that IS created by thiS Secunty Instrument (but does not waive the secunty Interest for the
<br />debts referenced in paragraph A of this Section).
<br />
<br />5. DEED OF TRUST ,COVEl"fANTS. Trustor ~~~ees that the covenants in this .secti~lll are. material (~b~igations under the
<br />Secured p~bt and Ihls .Secunty Ins~rument. If I rustor br~ac~e~ any covenant l~ ,thiS ~ectlOn, Beneflcla,ry may refuse to
<br />make .a~dlllOnal extens~ons 01 ~.r~dlt an~ reducc the crc~lt lunn. By not eXer9s.111g either rel~ledy on 1 rustor's breach,
<br />BenefiCiary does not waive Benehclary's nghtto later consider the event a breach If It happens agalll.
<br />
<br />Payments. Trustor agrees that all paymcnts under the Secured Debt will be paid when due and in accordance with Ihe
<br />tcnns of the Secured Debt and this Security Instrument.
<br />
<br />Prior Security Interests. With regard to any othcr mortgage, deed of trust, security agreement or other lien document thaL
<br />cre~t1ed a prior security interest or encul~lbrance on the Property, Trustor agrees .t~.1 ~ake all paym~nts ~hen due and 10
<br />perto~lll or comply wILh all covenants. 1 rustor also agrees not to alia\" any lllodlheatll?n or extensl.o~ of; nor. to requesl
<br />any luture advances under any note or agreement secured by the hen document Without Beneficiary s pnor wnLten
<br />approval.
<br />
<br />Claims Against Title. Trustor will pay all taxe~. (including any tax assesscd ~o this Deed of Trust), assessments, }i9ns,
<br />encumbrances, lease payments, ground rents, utlIthes, and other charges relatlllg to the Property when due. Benehcmry
<br />may re~uire Truslor 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 Security
<br />Instrument. Trustor agrees to assign to Beneficiary, as rey-uested by Beneficiary, any rights, claims or defenses Trustor
<br />may have against parties who supply labor or materials 10 mallltain or unprove the Property.
<br />
<br />Property Condition, Alterations and Inspection. Trustor will keep the Property in good condition and make all repairs
<br />that are reasonably necessary. TrusLor shall not commit or allow any waste, unpainnent, or deterioration of the Property.
<br />Trustor agrees Ihat the nature of the occupancy and use will not substantially change without Beneficiary's prior written
<br />consent. Trustor will not permit any chanue 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 />
<br />Beneficiary or Beneficiary's agenls may, at Heneficiary' s option, enter the Property at any reasonable time for the purpose
<br />of inspectlllg the Pr~)perIY. ,Benefi~iary shall, give :frus(()! notice at the time of or. before an insp,e~tio~ specif~ing a
<br />reasonahle purpose for the lllspectlOn. Any lllspecl10n of the Property shall be entlrely for Beneficmry s benefit and
<br />Trustor will in no way rely on Beneficiary's inspection.
<br />
<br />AuthOlity to Perfol.m. 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 Ihem to be perfonlled. Trustor appoints Beneficiary as attorney in fact
<br />to sign TrUSI?r s. name or pay any amoulll..n~ces~ary . for perfo~ance. l;3eneficiary's nght to .p~rfom~ for Trusl,o~ shall nOI~
<br />create an obhgatIon to perlonn, and Benehclary s [allure to pertonn Will not preclude Beneftcmry from exerclslllg any of
<br />Beneficiary's other rights under the law or this Security Instrument.
<br />
<br />Leaseholds; Condominiums; Planned Unit Developments. Trustor awees 10 comply wilh the provisions of any lease if
<br />~}!is Securi.ty Instrument is ?!l. a leasehold., If the Property includes a UUlt in a condomi,niwn ~r a planned ~n~l development,
<br />I rustor Will perfonn all of I ruslor's dulles under the covenants, hy-Iaws, or regulatlOns of the condomlUlwn or planned
<br />unit development.
<br />
<br />Co~~lemnation. Truslor will give Beneficiary prompt notice of any pt;nding I?r threatent;d action, by private or, public
<br />entltles to purchase or take any or all of the Property through condemnatlon, eIlllnent domalll, or any other means. 1 rustor
<br />authori7,es l~eneficiary to intervenc 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 paymenrs and will be applied as provided in this Security
<br />Instrument. This assigmnent cif proceeds is suhject to the terms of any prior mortgage, deed of trust, security agreement or
<br />other Iicn docUInent.
<br />
<br />InsUl~ance. '!'rustor shall keep Prope,rty insured again~t lo~~ ~y ,fire, flood, theft and, oth,er ha,7ards and risks reasonably
<br />assoctated wllh the Property due to lis type and 10catlOn. I hIS Insurance shall be mallltallled III the amounts and for the
<br />periods ,that Beneficiary ~equires. What, Benefic~a~y requin:;s pursuant to the preceding two sentences c,an change du~i~g the
<br />tern! of the loan. The lllsuranee carner provldlllg the lllsurance shall be chosen by Trustor subject to BenefiCiary's
<br />approval, whi9~ sh~lI not, he unre3;sonably withheld. If Trusto~, (ails to 1.nain~in the coverage descri~ed above, Benefi~iary
<br />~lay, ,at BenefiCiary s opllon, obtalll coverage to protect Beneftcmry' s nghts III Ihe Property accordlllg to the terms of thiS
<br />Secunty Instrument.
<br />
<br />All insuran~e polic~es and renewals s~.all be acceptabl9 to B<;neficiary. and shal~, i!lclude a standar.~ "mortgag~ c1~use" and,
<br />~here applicable:, ,loss payee. c. 'lause. T,rustor shall Immedmt,ely notlfy Benehctary. of can~e~latlon or. tenUlH,atlOn of the
<br />~nsuranpe. Be~ehcmry shal~ ,have the ng~t to ~old. the poliCies and renewals, I~ Beneficmry requ~~es, I rustor s~all
<br />ullmedtatcly &lVe to Beneftcmry all receipts of paid preullwns and renewal nollces. Upon loss, Iruslor shall give
<br />immediate notice to the insurance carrier and Beneltciary. Beneficiary may make proof of loss if not made immediately by
<br />Trustor.
<br />
<br />U nle~s otherwise agreed in writing, all insurance proc~~~s sl~all be, applied to the. res.torati~n or repair. of t~e ~rorerty or to
<br />the Secured Debt, whether or not. then due, at BenefiCiary s opllon. Any apphcallon of proceeds 10 pnnclpa shall not
<br />extend or postpone the due date of the scheduled paymelll nor change the amount of any payment. Any excess will be paid
<br />to the Trustor. If the Property is acquired by' ~~ncficiary, Trustor's r!U~t to any insurance pl.)licies and I->..rrocee,ds rcs,!lt.ing
<br />from damage (0 the Property before the aeqUlsltlOn shall pass to Benehcmry to the extent ofthe Secured Debt lmmedmtely
<br />before the acquisition.
<br />L\~ (pag~
<br />~ @ 1994 Bankers Systems, Inc., St. Cloud. MN Form OCP-REDTNE 1/31/2003 ~ -----t--t--=--
<br />
|