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<br />200607485
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<br />B. All future advances from Beneficiary to Trustor or other future obligations of T~s.tor to Benefic~~y under a~y
<br />promissory note, contract, guaranty, <;,r other .evidence of de~t exe,:u~ed by Trustor m favor of Beneficiary after .thls
<br />Security Instrument whether or not thiS Secunty Ins~rument .IS specifically referenced. 'If more than one person signs
<br />this Security Instrument, each Trustor agrees that thiS Secunty Instrument will secure all future advances and future
<br />obligations that are given to or incurred by anyone or more Trustor, or anyone or more J:f\.lstor and others. All
<br />future advances and other future obligations are secured by this Security Instrum~nt even though all or pa~t may l}ot
<br />yet be advanced. All future advances and other future obbg.ations are se,?ured as If made on. t;hedate of thiS Secunty
<br />Instrument. Nothing in this Security Ins!rument shall constitute '!- commitment to. make addltlonal or future loans or
<br />advances in any amount. Any such commltment.11?-ust be agreed to m a separ~te writmg. . .
<br />C. All other obligations Trustor owes to BenefiCiary, which may later .anlje, to. the l;:xtent )lot prohibited by law,
<br />including, but not limited to, liabilities for overdrafts relating to any d<<poSlt<ac<;ount agreement between Trustor and
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<br />Beneficiary. .. . th' .
<br />D. All additional sums advanced and expenses incurred by Beneficiary f<?r Insurmg, prese~v~g or 0 erwlse protectm,g
<br />the Property and its value and any other sums advanced and expenses mcurred by BenefiCiary under the terms of this
<br />Security Instrument.
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<br />In the event that Benetlciary fails to ~rovide 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 Secltrity Instrument.
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<br />5. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this sectioll 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.
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<br />Payments. Trustor ,!grees 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 that
<br />created a prior security interest or encumbrance on the Property, Trustor agrees to make all payments when due and to
<br />perform or comply with all covenants. Trustor also agrees not to allow any modification or extension of, nor to request
<br />any future advances under any note or agreement secured by the lien document without Beneficiary's prior wntten
<br />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 Security
<br />Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor
<br />may have against parties who supply labor or materials to mamtain or lillprove the Property.
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<br />Property Condition, Alterations and Insrection. Trustor will keep the Property in good condition and make all repairs
<br />that are reasonably necessary. Trustor shal not commit or allow any waste, lillpairment, or deterioration of the Property.
<br />Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's prior written
<br />consent. Trustor will not permit any change in any license, restrictive covenant or easement without Beneficiary's prior
<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 />Beneficiary or Beneficiary's agents may-, at Beneficiary's--option, eriter1lie1>ropei'iY-a't any reasonable time for thenplirpo'se
<br />of inspectmg the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a
<br />reasonable 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 perform any duty 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 Trustor s name or pay any amount necessary for performance. Beneficiary's nght to }X;rform for Trustor shall not
<br />create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising 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 perform all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned
<br />unit development.
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<br />Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public
<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 above described actions or claims. Trustor assigns to
<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 Property. Such proceeds shall be considered payments and will be applied as provided in this Security
<br />Instrument. This assignment of proceeds is subject to the terms 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 Beneficiary requires. What Beneficiary re~uires pursuant to the rreceding two sentences can change during the
<br />term of the Secured Debt. The insurance carrier providm..,g the insurance shal be chosen by Trustor subject to Beneficiary's
<br />approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, Beneficiary
<br />may, .at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to the terms of thiS
<br />Secunty Instrument.
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<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and,
<br />where applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination of the
<br />!nsuranpe. Be~eficiary shal~ ~ave the rig~t to hold. the po~icles and renewals. If Beneficiary requires, Trustor shall
<br />Immedrntely give to BenefiCIary all receIpts of paid premIUms and renewal notlces. 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 to the restoration or repair of the Property or to
<br />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 paid
<br />to the Trustor. If the Property is acquired by Beneficiary, Trustor's ri~ht to any insurance policies and proceeds resulting
<br />from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br />before the acquisition. (page 2 of 4)
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<br />~ @ 1994 Bankers Svstems.lnc., St. Cloud. MN Form OCP.REDT"NE 6/10/2005
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