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<br />200602553
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<br />5.
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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 Inslrwnent, each Truslor agrees that this Security Instrumenl will secure all future advances and fulure
<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 Instrument even though all or part may not
<br />yet be advanced. All future advances and other future oblIgations are secured as if made on the date of this Security
<br />Instrument. Nothing in this Security Instrument shall constitute a commitment to makc additional or futurc 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 latcr arise, to the extent not prohibited by law,
<br />including, but not limited to, liabilities for overdrafts relating to any deposit account agrecment between Trustor and
<br />Beneficiary. \ .. .
<br />D. All additional s~s advanced and expenses incurred by Beneficiary ff!r insuring, prese~!ng or otherwise protectin~
<br />the Property and Its value and any other sums advanced and expenses Illcurred 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 Truslor's principal dwefling that is created hy thiS Security Instrument.
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<br />DEED OF TRTTST COVEN ANTSr_Trm:mr ~grp,J>!.: rh<lt Illt~ covcnanrs in Ihis st"-1:tion ar~ QJalt:~i~ ~illations JJJld~J lhe
<br />Secured Debt and this Security Instrwnent. If Trustor breaches any covenant in this section, Bene IClary 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 hreach if it happens again.
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<br />Payments. Truslor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
<br />tenns of the Secured Debt and this Security Instrument.
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<br />Plior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document that
<br />created a prior security interest or encwnbrance on the Property, Trustor agrccs to make all payments whcn due and to
<br />perfop:n or comply with all covenants. Trustor also agrees not to allo~ any modificatif!n or eXlens~,o~ of;, nor. to re'l.uest
<br />any future advances under any note or agreement secured by the lIen docwnent Without BenefiCiary s pnor wnUen
<br />approval.
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<br />Claims Against Title. Trustor will pay all taxe~, (including any tax assessed ~o this Deed of Trust), assessmenls, ..li~ns,
<br />encumbrances, \case payments, ground rents, ulllItles, and other charges relatmg to the Property when due. BenefiCiary
<br />may re~uire Trustor to provide to Beneficiary copies of all notices thal such amounts arc due and the receipts evidencing
<br />Trustor s payment. Trustor will defend title to the Property against any claims lhat would impair the lien of this Security
<br />Instrument. Trustor agrees to assign 10 Beneficiary, as requested by Beneficiary, any righlS, claims or defenses Trustor
<br />may have against parties who supply labor or materials to malUtain or unprove the Properly.
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<br />Property Condition, Alterations and Insrection. Tr~stor will keep the Property, in good condit~on ~nd make all repairs
<br />that are reasonahly necessary. Trustor shal not comnllt or allow any waste, rrnpalrment, or detenoratlOn of the ProperlY.
<br />Trustor <l,g,rees that .the nature <?f the oc.c. upan~y and ~se will not ~u~stantially change without B.eneficiary's "p~ior, wrill,en
<br />consent. 1 rustor Will not penlllt any change III any license, restnctlve covenant or easement Without 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 />Benefieiary or Beneficiary's agents may, at Beneticiary' s optiun, enter the Property at any reasonable tune forthc purpose
<br />of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a
<br />reasonahle purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and
<br />Trustor will in no way rely on Beneficiary's inspection.
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<br />Authority to Perform. If Trustor fails to perfonn any dUly or any of the covenants contained in this Security Instrument,
<br />Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as attorney in fact
<br />to sign Trusl~)r s, name or I?ay any amount .n~cessary .for perfur~ance. l?encficiary's righl to p~rfon~l for Trus~o~ shall not
<br />create an oblIgatIOn to perform, and Beneftctary's failure 10 per/oan will nol preclude BenefiCiary from exerclsmg 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 instrument is on a leasehold. If the Property includes a unit in a condominium or a planned unit development,
<br />Trustor will perfonn all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned
<br />unil development.
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<br />Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action, hy private or puhlic
<br />entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Trustor
<br />authorizes Beneficiary to intervene in Trustor's name in any of the ahove described actions or claims. Trustor assigns lo
<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 Properly. Such proceeds shall he considered payments and will be applied as provided in this Security
<br />inslrument. This assigmnent of proceeds is suhjecl lo the tenns of any prior mortgage, deed of trust, security agreement or
<br />other lien 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 />periods, that ~eneficiary re~!lir~. WhaL Be~iciaryJ~~uirc~p~rsuanUo_the...preceding two s~ntences ca,n change dUfi~g the
<br />tenn 01 the S~cured Debt. ihe msurance carr~er provldlllg the lll~~ranee s~ll ~e chosen by 'trustor ,s. ubJect to Bencflc,!ary's
<br />approval, whIch shall nut he unreasonably wllhheld. If Trustor falls to mallltalll the coverage descnbed above, BenefiCiary
<br />may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Properly according to the temlS of tbis
<br />Security I nslrwnent.
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<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and,
<br />:vhere applicahle,. :'loss payee clause." T.rustor shall innlledial:ely notify Beneficiary of can~e~lation or. termi?,'ltion of the
<br />Illsurance. BenefiCiary shall have the nght to hold the polICies and renewals. If BenefiCiary reqUires, J rustor shall
<br />imIllediately give lo Beneficiary all reccipls of paid premiwllS and renewal notices, Upon loss, Trustor shall give
<br />immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by
<br />Trustor.
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<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied lo the restoration or repair of the Property or to
<br />the Secured Deht, whether or not then dUe, at Beneficiary's option. Any applicalion of proceeds to principal shall not
<br />extend or postpone the due date of the scheduled payment nor change the amounl of any payment. Any excess will be paid
<br />l? the Trustor. If the Property i~ acquired hy, ~~neficiary, Truslor' s r!~~t to any insurance policies and procee.ds. res~Iting
<br />from..ruunage to the Prope"" belo<< the "'O""ilion ,hall pas< 10 Bcoelle""" 10 the eXlent 0' the se~t onm' .tely
<br />before the acqUISitIOn, ( age 2 f 4)
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<br />~@ iD 1994 Bankers Systems, Ine.. St. Cloud, MN Form OCP.REDT No 5110/2005 .
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