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<br />200602712
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<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor t? Beneficiary under ~y
<br />promissory note, contract, guaranty, or other evidence. of de~t executed by. Trust?r. m favor of BenefiCIary
<br />executed after this Security Instrument whether or not thIS Secunty Instrum~nt IS sp.ecIfIcally referen~ed. If more
<br />than one person signs this Security Instrument, each Trustor agrees that thIS Secunty Instrument WIll secure all
<br />future advances and future obligations that are given to or incurred by anyone or more Trustor, or anyone or
<br />more Trustor and others. All future advances and other future obligations are secured by this Security Instrument
<br />even though all or part may not yet be advanced. All future advances and other future obligations are secured as if
<br />made on the date of this Security Instrument. Nothing in this Security Instru':Ilent shall constitute a co~tment to
<br />make additional or future loans or advances in any amount. Any such commItment must be agreed to m a separate
<br />writing. ..' . .
<br />C. All other obligations Trustor owes to BenefiCIary, whIch may later anse, to the extent not prohIbIted by law,
<br />including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor
<br />and Beneficiary. . ..'
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise
<br />protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the
<br />terms of this Security Instrument.
<br />
<br />In the event that Beneficiary fails to provide any necessary notice of the right of rescission with respect to any additional
<br />indebtedness secured under para~raph B of this Section, Beneficiary waives any subsequent security interest in the
<br />Trustor's principal dwelling that IS created by this Security Instrument (but does not waive the security 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 section are material obligations under the
<br />Secured Debt 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 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 make 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 Benetlciary's prior
<br />wntten approval.
<br />
<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 re~uire Trustor to provide to Benetlciary 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 Benetlciary, as requested by Benetlciary, any rights, claims or defenses
<br />Trustor may have against parties who supply labor or materials to maintain or improve the Property.
<br />
<br />Property 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 Benetlciary'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 notify Benetlciary 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 in no way rely on Benetlciary's inspection.
<br />
<br />Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security
<br />Instrume~t, Benetlc.iary may, ~ithout notice, perform or cause them to be performed. Trust~r app~ints Benetlciary as
<br />attorney m fact to SIgn Trustor s name or pay any amount necessary for performance. BenetlcIary s nght 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 mcludes a umt m a cOndOmInIUm 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 pending or threatened action, by private or public
<br />entItles to purchase or take any or all of the Propert~ through condelllllatIon, 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 condelllllation 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 pnor mortgage, deed of trust, security
<br />agreement or other lien document.
<br />
<br />Insur:ance. ~rustor shall keep Prop~rty insured agai~st loss ~y. fire, flood, theft and. oth~r ha~ards and risks reasonably
<br />assocIated WIth the Property due to Its type and locatIOn. ThIS msurance shall be mamtamed m the amounts and for the
<br />periods. that Benetlciary 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, Benetlciary may, at Benetlciary' s option, obtain coverage to protect Beneficiary's rights in the Property
<br />according to the terms of this Security Instrument.
<br />
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause"
<br />and, ~here applicable, "loss payee clause." Trustor shall immediately notify Benetlciary of cancellation or termination
<br />?f the ~nsuranc~. Beneficiary ~hall have th~ right to ~old the policies and renewals. ~f Beneficiary requires, Trustor shall
<br />~mmed~ately g.1Ve to Be!1eficlary all ~eceIpts of pat~ preffilums ~d renewal notIces. Upon ~oss, Trusto~ shall give
<br />ImmedIate notIce to the msurance carner and BeneficIary. BenetlcIary may make proof of loss If not made Immediately
<br />by Trustor.
<br />
<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 Benetlciary'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 policies and proceeds
<br />resultmg from damage to the Property before the acquisition shall pass to Benetlciary to the exten.~ph ecured Debt
<br />immediately before the acquisition. ~ ~
<br />d (pag 2 f 4)
<br />01994 Bankers Systems, Inc., St. ClOUd, MN Form OCP-REDT-NE 1/13/99 I':S. .
<br />
<br />.-C465(NE) 199021.02
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