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<br />200700156
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<br />B. All future advances from Beneficiary to Trustor. or other future obligations of Trust.or to Beneficiary u.nder any
<br />promissory note, contract, guaranty, or o.ther eVI~ence of debt ~xecut~ by Trustor III fav?r of BeneficIary after
<br />this Secunty Instrument whether or not this Secunty Inst~ment I~ specifically ref~renced. If more than one person
<br />signs this Security Instrument, each Trustor agrees that this Secunty Instrument will secure all future advances and
<br />future obligations that are given to or incurred by anyone or more Trustor, or anyone or more Trustor and others.
<br />All future advances and other future obligations are secured by this Security Instrument even though all or part
<br />may not yet be advanced. All future .advance~ and other future obligatio!ls are secured. as if made on thed~t~ of this
<br />Security Instrument. Nothing in thiS Secunty Instrum~nt shall constitute a cOf!1Illitment to m~e addlt10nal or
<br />future loans or advances in any amount. Any such comnutment must be agreed to ill a separate wntillg.
<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
<br />and Beneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise
<br />protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary 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 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
<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.
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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 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.
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<br />Pro)?erty Condition, Alterations and Inspection. Trustor will keep the Property in good condition and make all
<br />repairs 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 purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's
<br />benefit and Trustor will ill 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
<br />Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amount necessary for ~erformance. Beneficiary s right to perform for
<br />Trustor shall 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.
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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 />Co~~emnation. Trustor will give Beneficiary prompt notice of any pendin~ or thr~atened action, by private or public
<br />entities to pur~hase or tak~ any ~r all of t~e Propert~ throug~ condemnatlOn, emment. domai~, or any <?ther means.
<br />Trustor authonzes BenefiCiary to illtervene m Trustor s name III any of the above descnbed actlOns 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 hen 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 te~ of the Secured D.ebt. 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.
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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 termination
<br />?f the ~nsuranc~. Beneficiary ~hall have th~ right to ~old the policies and renewals. ~f Beneficiary requires, Trustor shall
<br />!mmed!ately g.1Ve to Be!1eficlary all ~ecelpts of paI~ premIUms :md renewal notices. Upon ~oss, Trustor shall give
<br />Immediate notice to the Illsurance carner and Beneficiary. BenefiCiary may make proof of loss If not made immediately
<br />by 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
<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 t~e sche~uled payment ~or change the <l!llount of a~y payment. ~n'y excess will be
<br />paid to the Trustor. If the Property IS acqUired by BenefiCIary, Trustor's nght to any msurance pohclCs 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 />~1/fJ 01994 Bankers Systems, Ine.. St. Cloud, MN Form OCP-REOT-NE 511012006
<br />CIIl-C465INEI 105061
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<br />C-07-01-04-000021
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<br />~ttL
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