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200701180 B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after this Secunty Instrument whether or not this Security Ia<;trument is specifically referenced. If more than one person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by anyone or more Trustor, or anyone or more Trustor and others. All future advances and other future obligations are secured by this Security Instrument even though all or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security Instrument. Nothing in this Security Ia<;trument shall constitute a commitment to make additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate writing. C. All other obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary. D. All additional sums advanced and expeIllies incurred by Beneficiary for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under tile terms of tIlis Security Instrument. In the event that Beneficiary fails to provide any required notice of the right of rescission, Beneficiary waives any subsequent security interest in the Trustor's principal dwelling that is created by this Security Instrument. 5. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the Secured Debt and this Security Instrument. If Trustor breaches any covenant in this section, Beneficiary Illay refuse to make additional extensions of credit and reduce the credit limit. By not exercisinJ;: either remedy on Trustor's breach, Beneficiary does not waive Beneficiary's right to later consider the event a breach If it happens again. Payments. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of the Secured Debt and this Security Instrument. Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Trustor agrees to make all payments when due and to perform or comply with all covenants. Trustor also agrees not to allow any modification or extension of, nor to request any future advances under any note or. agreement secured by the lien document without Beneficiary's prior wntten approval. Claims Against Title. Trustor will pay all taxes (including any tax assessed to this Deed of Trust), assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may re~uire Trustor to provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing Trustor s payment. Trustor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or materials to maintain or improve the Property. Property Condition, Alterations and Inspection. Trustor will keep the Property in good condition and make all repairs that are reasonably necessary. Trustor shaH not commit or allow any waste, impairment, or deterioration of tile Property. Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purP.o.s~ of inspecting the Property. Be.neficia~y shall give T~ustor notice at the time of or. before an insp~ction speclfymg a reasonable purpose for the lllSpectlOn. Any ll1<;pectIon of the Property shall be entIrely for Beneficlary's benefit and Trustor willmno way rely on Beneficiary's inspection. Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor a:ppoints Beneficiary as attorney in fact to sign Trustor's name or pay any amount necessary for perfonnance. Beneficiary s right to perform for Trustor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of Beneficiary's otIler rights under the law or iliis Security Instrument. Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions of any lease if iliis Security Instrument is on a leasehold. If the Property includes a urut in a condomimum or a planned unit development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned unit development. Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public entities to purchase or take any or all of the Propert?: ilirough condemnation, eminent domain, or any oilier means. Trustor auiliorizes Beneficiary to intervene in Trustor s name in any of the above described actions or claims. Trustor assigns to Beneficiary the proceeds of any award or claim for damages connected wiili a condemnation or other taking of all or any part of tl1e Property. Such proceeds shall be considered payments and will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. Insurance. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for ilie periods that Beneficiary requires. What Beneficiary requires pursuant to the preceding two sentences can change during the term of tile Secured Debt. The insurance carrier providing the insurance shall be chosen by Trustor subject to Beneficiary's al?proval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, BeneficIary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to tlle terms of iliis Security Instrument. All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and, where applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination of tlle insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requir-es, Trustor shall immediately give to Beneficiary all receipts of paid premlUms and renewal notices. Upon loss, Trustor shall give immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by Trustor. Unless otllerwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to tlle Secured Debt, wheilier or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change tlle amount of any payment. An,)' excess will be paid to the Trustor. If the Property is acquired by Beneficiary, Trustor's right to any insurance poliCIes and proceeds resulting from damage to tl1e Property before the acquisition shall pass to Beneficiary to tlle extent of the Secured Debt immediately before the acquisition. C-07-02-002336 Ext5iii'8.@ 01994 Bankers Systems, Inc.. St. CloLd, MN Form OCP.REDT.NE 5/10/2005 . -C465(NE) (0506) iK> )/11 (pa~