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<br />200602986
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<br />B. All future advances from Beneficiary to Trustor or other future obligations of TTrustor t<:> B~neficiafryBundefir ~y
<br />promissory note, contract, guaranty, or other evidence. of de~t executed by. rust<:>r m lavor 0 ene iCiary
<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 incurr~d ~y anyone or more T~stor, <:>r anyone or
<br />more Trustor and others. All future advances and other future obhgatiOns are secured by. thi~ Secunty Instrume~t
<br />even though all or part may nC!t yet be advanced. ~ll ~ture. advanc~s and other future obhgB:tiOns are sec,:,redas if
<br />made on the date of this Secunty Instrument. Nothmg m this Secunty InstrUl;nent shall constitute a cor~ullltment to
<br />make additional or future loans or advances in any amount. Any such conullltment must be agreed to m a separate
<br />
<br />writing. ... .b. ed b 1
<br />C. All other obligations Trustor owes to Beneficiary, which .may later anse, .to the extent not prohl It [)y aw,
<br />including, but not limited to, liabilities for overdrafts relatlOg to any depOSit account agreement between Trustor
<br />and Beneficiary. .. . .. . .
<br />D. All additional sums advanced and expenses mcurred by BeneflClary for m~urmg, preservmg. or otherwise
<br />protecting the Property and its value and any other sums advanced and expenses mcurred by BenefiCiary under the
<br />terms of this Security Instrument.
<br />
<br />In the event that Beneficiary fails to provide any. neces~ary notice o~ the rig~t of rescission with respec~ to .any add~tional
<br />indebtedness secured under para~raph B of this SectIOn, BenefiCiary Waives any subs~quent secur.lty.mterest m the
<br />Trustor's principal dwelling that IS created by this Security Instrument (but does not waive the secunty mterest 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 />tenns 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 perfonn 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.
<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 require 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 />Prol,lfrty Condition, Alterations and Inspection. Trustor wiIl keep the Property in good condition and make all
<br />repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impainnent, 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 netify 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 reasonab.le purpose for the inspect~o~. An~ inspe~tion of the Property shall be entirely for Beneficiary's
<br />benefit and Trustor will 10 no way rely on Beneficiary's 1OspectlOn.
<br />
<br />Authority to Perform. If Trustor fails to perfonn any duty or any of the covenants contained in this Security
<br />Instrument, Beneficiary may, without notice, perfonn or cause them to be perfonned. 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 shaH 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 />Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions of any lease
<br />if this Security Instrument is on a leasehold. If the Property includes a unit in a condomimum or a planned unit
<br />development, Trustor will perfonn all of Trustor's duties under the covenants, by-laws, or regulations of the
<br />condominium or platllled unit development.
<br />
<br />Co~~emnation. Trustor will give Beneficiary prompt notice of any pendin~ or threatened action, by private or public
<br />entities to purchase or take any or all of the Property through condenmatlOn, 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 condenmation or other taking of
<br />all or. any part of the ~roper~y. 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 tenns of any prior mortgage, deed of trust, security
<br />agreement or other hen document.
<br />
<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 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, at Beneficiary'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 Beneficiary of cancellation or termination
<br />of the 1Osurance. Beneficiary shaH have the right to hold the policies and renewals. If Beneficiary requires, Trustor shaH
<br />~mmed~ately g.ive to Be!leficiary all ~eceipts of pai~ premiums and renewal notices. Upon loss, Trustor shall give
<br />Immediate notice to the lOsurance carner and Beneficiary. Beneficiary 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 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 />paid 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 Beneficiary to the extent of the Secured Debt
<br />immediately before the acquisition.
<br />(page 2 of 4J
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<br />01994 Bankers Systems, Ine" St. Cloud, MN Form OCP-REDT.NE 1/13/99
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<br />G-C465(NE) 199021_02
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