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<br />20060228t'
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<br />B, All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after this
<br />Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs
<br />this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances and future
<br />obligations that are given to or incurred 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 Instrwnent even though all or part may not
<br />yet he advanced. All future advances and other future ohligations are secured as if made on the date of this Security
<br />Instrument. Nothing in this Security Instrwnent shall constitute a commitment to make additional or future loans or
<br />advances in any amount. Any such commitment must be agreed to in a separate writing.
<br />C. All other obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law,
<br />including, but not limited to, liahilities for overdrafts relating to any deposit account agreement between Trustor and
<br />Beneficiary.
<br />D. All additional SUT!IS advanced and expenses incurred by Beneficiary f<?r insuring, prese!-:'!ng or otherwise protectin~
<br />the Property and its value and any other swns advanced and expenses lllcurred by BenefiCiary under the terms of thIS
<br />Security Instrument.
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<br />In the event that Beneficiary fails to provide any required notice of the right of rescission, Beneficiary waives any
<br />subsequent security interest in the Trustor's principal dwefling that is created by thIS Security Instrwllent.
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<br />5. DEED OF TRUST COVENANTS, Trustor agrees tbat the covenants in this section are llmterial obligations under the
<br />Secured Deht and this Security Instrument. If Trustor breaches any covenant in this section, Beneficiary may refuse to
<br />make additional extensions of credit and reduce the credit limit. By not exercising either remedy on Trustor's breach,
<br />Beneficiary does not waive Beneficiary's right (0 later eonsider the event a breach if it happens again.
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<br />Payments. Trustor agrees that aU payments under the Secured Debt will be paid when due and in accordanee with the
<br />terms of the Secured Debt and this Security Instrument.
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<br />Prior Seclllity Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document that
<br />created a prior security interest or eneumbranee on the Property, Trustor agrees to make all payments when due and to
<br />perform or comply with all covenants. Trustor also agrees not to allow any modification or extension of, nor to request
<br />any future advances under any note or agreement secured by the lien document without Beneficiary's prior wntten
<br />approval.
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<br />Claims Against Title. Trustor will pay all taxe~. (including any tax assessed ~o this Deed of Trust), assessments, !i~ns,
<br />encwnbrances, lease payments, ground rents, utlhtles, and other charges relatmg to the Property when due. BenefICIary
<br />~l}ay re~uin; Trustor. ~o provid~ (0 Benef~ciary copies of all noti~es that suc~ amounts are ~ue a!ld the ~eccipts ~vi~enci~
<br />I rustor s payment. I rustor will defend title to the Property against any clauns that would rrnpalr the hen of thIS Secunty
<br />Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor
<br />may have against parties who supply labor or materials to mamtain or Improve the Property.
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<br />Property Condition, Alteratic;'~s and Insrection. Tr~stor will keep the Property, in good condit!on ~nd m,ake all repairs
<br />that are reasonahly necessary. I rustor shal not COl1UllIt or allow any waste, nllpamnent, or detenoratlOn of the Property.
<br />Trustor a,g,rees tbat .the nature (?f the occupan~y and ~se will not ~u?stantially change without B.cneficiary's .'p~ior writ~en
<br />consent. I rustor WIll not permIt any cbange III any lIcense, restnctlve covenant or easement wtthout BenefiCiary's pnor
<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.
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<br />Be~eficiary or Beneficiary' s agents.. ":lay, at Beneficiary's option,. enter the P~operty at any . reasona~le tim~ for the ,pu~pose
<br />of mspectmg the Property. BenefICIary shall gIve Trustor nohce at the tnlle of or before an InspectIOn speclfYlllg a
<br />reasonahle purpose for the inspection. Any inspection of the Property shall be entircly for Beneficiary's benefit and
<br />Truslor will in no way rely on Beneficiary's inspection.
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<br />Authority to Pel'form. If Trustor fails to perform any duty or any of the covenants contained in this Security Inslfwnent,
<br />Beneficiary may, without notice, perfonll or cause them to be perfonlled. Trustor appoints Beneficiary as attorney in fact
<br />to sign Trust?r s, name or pay any amount..n~cessal1' ,for performance. ~eneficiary's right to p~rfonn for Trust,o~ shall not
<br />create an ohhgauon to perfonn, and Beneftclary's faIlure to perfonn wIll not preclude BenefiCiary from exerclslllg any of
<br />Beneficiary's other rights under the law or this Security Instrument.
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<br />Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions of any lease if
<br />this Security lnstrwnent 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 condominiwn or planned
<br />unit development.
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<br />Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public
<br />entities to purchase or take any or all of the Property lhrough condemnation, eminent domain, or any other means. Trustor
<br />authorizes 13eneficiary 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 />InstJU1~lellt. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br />other hen document.
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<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 insurance shall be maintained in the amounts and for the
<br />period_s t~l!t ~eneficiary re~uire~. What Hcne~"iciary r~qllires p'~r1tUll.nh 1.0 rhe prcc,~ding two ~~nte!1ces ca.nchangc du~:ii~g the
<br />tenn ulthc Secured JJehl. 1 he lllsurance carner provldlllg the lllsurance shall be chosen by I rustor subJect to BenefIcIary's
<br />approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, Beneficiary
<br />may, .at Beneficiary's option, obtain coverage to protect Beneficiary's rigbts in the Property according to the temlS of this
<br />SecurIty Instrument.
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<br />All insuran~e pOlic!,es and renewals s~,all. be accep. tabl~ to B~neft.'ciary. and shall, i!lclude. a st.anda. r~. "mortgag~ cl~use" and,
<br />;vhere apphcable" . loss payee clause. 1 rustor shall tlmned.lately notif.ty BenefIcIary of cancellatton or termlllatton of the
<br />~nsura~ce. Be~eflclary shal.~ .have the rig!J-t to !J-old, the po~icles and renewals. I~ Beneficiary requires, Trustor shall
<br />nnl11edlalely gIve to Benehctary all receIpts of paId prel1l1ums and renewal notIces. Upon loss, Trustor shall give
<br />~!l1nediate notice to the insurance carrier and BenefIciary. Beneficiary may make proof of loss if not made innnediately by
<br />I rustor.
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<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, ~r postpone the due date, of the. scheduled pa~l~lent n~r cha~ge ~he amounl ?f any paym~~. Any excess will be p,aid
<br />to the I rustor. H the Property IS acqUIred by, ~~neflctary, 1 rustor s r~~~t to any Illsurance polICIes and proceeds res1.,1ltmg
<br />fro!n damag. e. tt? !~e Property before the acqUISItIOn shall pass to Beneftclary to the extent of tbe seCU~.d D t immedIately
<br />bel ore the acqUIsitIOn. (page 2 of 4)
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<br />~@ iGJ 1994 Bankers Systoms, Inc.. St. Cloud, MN Form OCP-REOT-NE 5/10/2005
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