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<br />B. All future advances from Beneficiary ho Trust~r or other fufure;.:obligations of T!1ls~or to Benefic!ary un~er a~y
<br />promissory note contract guaranty or other eVidence of debL'exe.,c;uted by Trustor III favor of Bencflclary after tillS
<br />Security Instrum'ent whether or not this Security Instrument is speCifically rcferenced. If more than one person signs
<br />this Security Instrument, each Trustor agrees that this Security 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 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 futurc advanccs and o:th.. eI1. futjlre obligations are secured as if made on the date of this Security
<br />Instrument. Nothing in this Security lru;rrumern shall constitute' ~ commitment t~. make additional or future loans or
<br />advances in a~y a~ount. Any such cotnn:lltIllFnnI.1ust be ,a!;reed to m a separ!lte wntmg. . .
<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 and
<br />Beneficia.ry. '. . " . . .
<br />D. All additional sums advanced and expenscs mcurred by BenefiCiary for Insurmg, preservmg or otherwise protectm.g
<br />the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the tenns of thiS
<br />Security Instrument.
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<br />200610084
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<br />In the event th~t ~enefici,!-ry fails to provi?e. any req~ired no.tice of the right of ~escission, Beneficiary waives any
<br />subsequent secunty mterest m the Trustor's pnnclpal dwelllllg that IS created by this Secunty Instrument.
<br />
<br />5. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the
<br />Secured Pt:bt and this .Security Insrrument. If Trustor br~acJ:1e~ any covenant i~ .this ~ection, BenefIciary may, refuse to
<br />make additIonal extensIOns of credit and reduce the credlt limit. By not exerclsmg either remedy on Trustor s breach,
<br />Beneficiary does not waive Beneficiary's right to latcr 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 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 allo,:" any modificati~m or extensi.o~ o~, nor. to request
<br />any future advances under any note or agreement secured by the hen document WithOUt BenefiCiary s pnor wnHen
<br />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 re9uire Trustor to provide to Beneficiary copies of all notices tltat 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 Improve the Property.
<br />
<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, lIDpairment, 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 liccnse, restrictive covenant or casement 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 thc Property.
<br />
<br />BenefIciary or Beneflciari s agents may, at Beneficiary 's option~- enter the Property at any reasonable time for the purpose
<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 perfonn any duty or any of the covenants contained in this Security Instrument,
<br />Ben~ficiary may, without notice, perform or cause them to be performed. T~u~tor app,oints Beneficiary as attorney in fact
<br />to sign Trust~r s. name or pay any amount"n~ces,sary .for performance. ~eneflclary's nght to pt;rfonn for Trus~or shall not.
<br />create an obligatIon to perform, and BenefICiary s fadure to perform Will not 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 Secur~ty Inst!ument is ?n a leas~hold.. If the Property includes a unit in a condomi!lium or a planned 1!"!t 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 />CO!l!iemnation. Trustor will give Beneficiary prompt notice of any p~nding f'!r threatent:d action, by private or public
<br />entItIes to purchase or take any or all of the Property through condemnation, eminent domam, 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 />Instru~ent. 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 require.s. What Bene~'iciary r~9uires p~rsuant to the rreceding two sentences ca.n change duri~g the
<br />term of the Secured Debt. The lllSurance carner provldmg the Insurance shal be chosen by Trustor subject to BenefiCiary's
<br />approval, whi~h. sh~ll not. be unre~sonably withheld. If Trustor. ~aiIs, to ~aint~in the coverage described above, Beneficiary
<br />may, .at BenefiCiary s optIon, obtam coverage to protect BenefiCiary S fights m 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 />yrhere applicable,. :'Ioss payee clause." T.rustor shall immediat.ely notify Beneficiary of can~e~lation or. termination of th~
<br />~nsura~ce. Be~eflclary shal! pave the ng~t to hold. the pO!lcles and renewals. If BenefiCiary reqUires, Trustor shall
<br />~mmed~ately !;Ive to B~neflclary all. receipts of pa.td premllJl~s and renewal notIces. Upon loss, Trustor shall give
<br />lIDmedlate notIce to the Insurance carner 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 postpo~e the due datt; of the. scheduled par~ent nor cha~ge .the amount ?f any paymen~. Any excess will be paid
<br />to the Trustor. It the Property IS acqUired by ?~neflclary, Trustor s ng~t to any msurance p<?licles and proceeds resulting
<br />fro!ll damage tl? r~e 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 Bonkers Systems. Inc., St. Cloud. MN Form OCP-REDT.NE 5/1 0/2005
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