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<br />200700058
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<br />B. All t~lture advances from BenefIciary to Trust~r or other future obligations of Trustor to Beneficiary under any
<br />promIssory note, contract, guaranty, or bther eVIdence of debt executed by Trustor in favor of Beneficiary after this
<br />S~curity I':!strument whether or not this Security Inst.rument js specifically ret"erenced. If more than one person signs
<br />thIS, Se~uflty Instrumep.t, each T~ustor agrees. that thIS secufl.. ty ,Instrument wIll secure all future a. dvances and future
<br />obhgatlOns that are gIven to or Incurred by anyone or more frustor, 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 future advances and other future obhgations are secured as if made on the date of this Security
<br />Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or
<br />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 by law
<br />including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and
<br />Beneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br />Security Instrument.
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<br />In the event th~t ~enefici':lry fails to ~rovi.de. any reql!ired no.tice of the risht of ~escission, Beneficiary waives any
<br />subsequent secunty mterest m the Trustor s pnncIpal dwelhng that IS created by thIS Secunty Instrument.
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<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.
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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 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\,V any modificati<.lll or extens!.o~ of, nor. to request
<br />any future advances under any note or agreement secured by the hen document WIthout BenefICIary's pnor 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 Improve the Property.
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<br />Property Condition, Alterati~~s and Inspection. Tr~stor will keep the Propertx in good condit!on ~nd make all repairs
<br />that are reasonably necessary. 1 rustor shall not commIt or allow any waste, ImpaIrment, or detenoratton 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, enter the Property at any reasonable time for the purpose
<br />of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an insp,ection 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 right to perform 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 Secur~ty Inst!ument is on a leas~hold.. If the Property includes a unit in a eondomip.ium or a planned l!n!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 />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 requires pursuant to the preceding two sentences can change during the
<br />term of the Secured Debt. The insurance carrier providIrlg the insurance shall 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 />Security 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 />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 premiums 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 by
<br />Trustor .
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<br />Unless otherwise agreed in writing, all insurance proc~~~s s~all be. applied to the. res.toration or repair of t~e ~roperty or to
<br />the Secured Debt, whether or not then due, at BenefICIary s optIon. Any apphcatIOn of proceeds to prmelpal 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 riSht 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 Systems, Inc., St. Cloud, MN Form OCP.RH1!.NE 5/10/2005
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