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<br />B. All future advances from Beneficiary to Trustor or other future obligations of TTrustor t? BreneficiafryBundefir ~ny
<br />promissory note, contract, guaranty, or other evidence, of de~t executed by. rust<?r In avor 0 ene IClary
<br />executed after this Security Instrument whether or not thIS Secunty Instrum~nt IS sp.eclfically referen~ed. If more
<br />than one person signs this Security Instrument, ~ach Trust~r agrees that thIS Secunty Instrument wIll secure all
<br />future advances and future obligatIOns that are gIven to or mcurr~d ~y anyone or more Trustor, <;>r anyone or
<br />more Trustor and others. All future advances and other future obhgatlons are secured by. thI~ Secunty Instrume~t
<br />even though all or part may not yet be advanced. ~ll f\1ture. advanc7s and other future obhg3:tIOns are sec':lred as if
<br />made on the date of this Security Instrument: Nothmg In thiS Secunty Instru~ent shall constitute a cOI?JIlltment to
<br />make additional or future loans or advances In any amount. Any such commItment must be agreed to III a separate
<br />
<br />writing. ..' h'b' d b I
<br />C. All other obligations Trustor owes to BenefiCIary, which .may later arIse, .to the extent not pro i He yaw,
<br />including, but not limited to, liabilities for overdrafts relatIng to any depOSIt account agreement between Trustor
<br />
<br />and Beneficiary. . . .. . .
<br />D. All additional sums advanced and expenses incurred by BenefICiary for Ill~unng, preservIn$. or otherWise
<br />protecting the Property and its value and any other sums advanced and expenses Incurred by Benehciary under the
<br />terms of this Security Instrument.
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<br />In the event that Beneficiary fails to provide any, neces~ary notice o~ the rig~t of rescission with respec~ to .any addi.tional
<br />indebtedness secured under parasraph B of thIS SectIOr:t, BenefiCiary Waives any subs~quent secur.lty . Interest m the
<br />Trustor's principal dwelling 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 COVENANTS. Trustor agrees that the covenants in this ~ecti(;lll are.material obl,igations under the
<br />Secured Debt and this Security Instrument. If Trustor breaches any covenant m 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 to later consider the event a breach if it happens again.
<br />
<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 Instrument.
<br />
<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, Trustor agrees to ~ake. all payments. when due and
<br />to perform or comply with all covenants. Trustor also agrees not to allow any modifiCatIOn or extenSIOn of, nor to
<br />request any future advances under any note or agreement secured by the lien document without Beneficiary's prior
<br />wntten approval.
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<br />Claims Against Title. Trustor 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 re9uire Trustor 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. Trustor 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 />
<br />ProI;>erty Condition, Alterations and Inspection. Trustor will keep the Property in good condition and make all
<br />repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of the
<br />Property. Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's
<br />prior written consent. Trustor will not permit any change in any license, restrictive covenant or easement without
<br />. Beneficiary's prior written consent. Trustor Will 1l9(jfy Beneficiary of all demands, proceedings, claims, and actions
<br />against Trustor, and of any loss or damage to the Property. - ..-
<br />
<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 Trustor notice at the time of or before an inspection
<br />specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's
<br />benefit and Trustor will m no way rely on Beneficiary's inspection.
<br />
<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. Trustor appoints 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 />Trustor 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 />
<br />~eas~holds; ~ondominium~; Planned Unit Developments. Tru.stor agrees to .co.mply with th~ provisions of any lease
<br />If thiS Secunty Instrument is on a leasehold. If the Property Includes a umt In a condomlOlUm or a planned unit
<br />development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br />condominium or planned unit development.
<br />
<br />Co~~emnation. Trustor will give Beneficiary prompt notice of any pendin~ or threatened action, by private or public
<br />entitles to purchase or take any or all of the Propert~ through condemnatIOn, eminent domain, or any other means.
<br />Trustor authorizes Beneficiary to intervene in Trustor s 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. any part of the ~roper,ty. Such proceeds s~all be. considered payments and will be applied as provided in this
<br />Secunty Instrument.. ThIS aSSignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security
<br />agreement or other hen document.
<br />
<br />Insu~ance. 'frustor shall keep Prop~rty insured again.st loss ~y. fire, flood, theft and, oth~r h~ards and risks reasonably
<br />assOCIated With the Property due to ItS type and locatIOn. ThiS Insurance shall be malOtalOed m the amounts and for the
<br />periods. that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br />BenefiCiary's approval, whIch shall not be unreasonably withheld. If Trustor fails to maintain the coverage described
<br />above,. Beneficiary may.. ~t Bene~ciary's option, obtain coverage to protect Beneficiary's rights in the Property
<br />accordmg to the terms of thIS Secunty Instrument.
<br />
<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." Trustor shall immediately notify Beneficiary of cancellation or termination
<br />?f the ~nsuranc~. Beneficiary ~hall have th~ right to ~old the policies and renewals. If Beneficiary requires, Trustor shall
<br />!mmed!ately g.ive to Be!1ehcIary all ~ecelpts of paI~ premiums ~nd renewal notices. Upon loss, Trustor shall give
<br />immediate notice to the Insurance carner and BeneficIary. BenefiCiary may make proof of loss if not made immediately
<br />by Trustor.
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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
<br />to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not
<br />ex!end or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be
<br />patd t.o the Trustor. If the Property is acquired by Beneficiary, Trustor's right to any insurance .. nd proceeds
<br />resuItmg from damage to the Property before the acquisition shall pass to Beneficiary to the ext t of the ecured Deb
<br />immediately before the acquisition.
<br />----"""r- (page
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<br />01994 aankers Systems, Inc., St. Cloud, MN Form OCP-REDT-NE 1113199
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<br />G-C465(NEI199021.02
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