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<br />B. All future advances from Beneficiary to Trustor or other future obligations ofTrust~r to Beneficiary U?-der any
<br />promissory note, contract, guaranty, or other evidence of debt ~xecut~ by Trustor In favor of Benefic1ary after
<br />this Secunty Instrument whether or not this Security Instrument 1S spec1fically referenced. If more than one person
<br />signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances and
<br />future obligations that are-given to or inCl!lT~ by anyone or more 1.'rustor, !,r anyone or more Trustor and others.
<br />All future advances and other future obl1gatlons are secured by th1S Security Instrument even though all or part
<br />may not yet be advanced. ~ll~ture!ldvance~ and other future obligatio?s are secur~ as if made on the d~tl? of this
<br />Security I. nstrument. Nothing In th1S Secunty Instrument shall const1tut.e a COmml. tment to make add1tlOnal or
<br />future roans or 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 ~ 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 b.y Beneficiary for insuring, preserving. or otherwise
<br />protecting the Property and its value and any other sums advanced and expenses incurred by Benef1c1ary under the
<br />terms of this Security Instrument. '
<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 dwelling that is created by this Security Instrument.
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<br />5. DEED OF TRUsr co. VENANr. .,8. Trustor agrees that the covenants In this-secti9riare. material obligations under the
<br />Secured Debt and this Security Inlltfumen1. 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 exercisinf either remedy on Trustor's breach,
<br />Beneficiary does not waive Beneficiary's right to later consider the event a breach i it happens again.
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<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.
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<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 Beneficiary's prior
<br />wntten approval.
<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 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 />Prol?erty. Condition, Alterations and Inspection. Trustor will keep the Property in good condition and make all
<br />repmrs 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 notify Beneficiary of all demands, proceedings, claims, and actions
<br />against Trustor, and of any loss or damage to the Property.
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<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 P!1rposefor the inspectio.!h An}' i~~p~t~OI'! of the P1'9perty~hall be entirely for Beneficiary's
<br />oenent and Trustor wllI 1n no way rery on Benelic1ary's 1nspection.
<br />Authority to Perform. If Trustor fails to. perform any duty or any of the covenants contained in this Security
<br />Instrume~t, Benefi,:iary may, without notice, perform or cause them to be performed. Trust?r appo,ints Beneficiary as
<br />attorney 10 fact to Slgn Trustor's name or pay any amount necessary for eerformance. Benefic1ary s nght to perform for
<br />Trustor shall not create an obligation to perform, and Beneficiary's fmlure to perform will not preclude Beneficiary
<br />from exercising any of 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
<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 perform all of Trustor's duties under the covenants, by-laws. or regulations of the
<br />condominium or planned unit development;
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<br />Condemnation. 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 Prope~ through condemnat1on, 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 Property. Such proceeds shall be considered payments and will be applied as provided in this
<br />Security Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security
<br />agreement or 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 Beneficiary requires. What Beneficiary requires pursuant to the preceding two sentences can change during
<br />the term of the Secured Debt. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br />Beneficiary's al?proval, .WhiCh shall not be unreasonably withheld. If Trustor fails to maintain the coverage described
<br />above, Benefic1ary may, at Beneficiary's. option, obtain coverage to protect Beneficiary's rights in the Property
<br />according to the terms of this Se9urity Jnstn.unent.
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<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 tennination
<br />of the insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
<br />immediately give to Beneficiary all receipts of paid preffilums 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
<br />by Trustor.
<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 />extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be
<br />paid to the Trustor. If the Property is acquired by Beneficiary, Trustor's right to any 10surance polic1es and proceeds
<br />resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt
<br />immediately before the acquisition.
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<br />(page 2 of 4)
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<br />~ <D 1994 Bonko.. SYOlomo, Inc., St. Cloud, MN Form OCP-REOT-NE 5110/2005
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<br />. -C465(NE) (0506)
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