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<br />200703179
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<br />5.
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<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />promi.ssory note, contract, guaranty, 9r ~ther .evidence of de~t exe~l!.ted by T!ustor in favor of Beneficiary after .this
<br />Secunty Instrument whether or not thiS Secunty Instrument IS specIfIcally referenced. 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 future advances and other future obltgations are secured as if made on the date of this Security
<br />Instrument. Nothing in this Security Ins~rument shall constitute '!- commitment t9. make additional or future loans or
<br />advances in any amount. Any such commitment must be aweed to m a separate wntmg.
<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~ry fails to ~rovi~e. any reql!ired no.tice of the right of r.escission, Beneficiary waives 'any
<br />subsequent secunty mterest m the Trustor s prmclpal dwelhng that IS created by thiS Secunty Instrument.
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<br />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 !ill paYf!lents under the Secured Debt will be paid when due and in accordance with the
<br />terms of the Secured Debt and thiS Secunty 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~ any modificati9n or extensip~ o~, 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, 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, tmpairment, 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, 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 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 perfonnance. Beneficiary's right to perform for Trustor shall not
<br />create an obligation to perfonn, 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 9n a leasehold.. If the Property includes a unit in a condomi~ium ~r a planned l!n!t development,
<br />Trustor Will perform all of Trustor's duties under the covenants, by-laws, or regulatlons of the condommlUm 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 />Instruf!lent. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br />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 re~uires pursuant to the yreceding two sentences can change during the
<br />term of the Secured Debt. The insurance carrier providmg the insurance shal be chosen by Trustor subject to Beneficiary's
<br />approval, whi~h.sh~ll not. be unre~sonably withheld. If Trusto~. ~ails to I."ain~in the coverage descri~d above, Benefi~iary
<br />may, at BenefiCiary s optlon, obtam coverage to protect BenefICiary's nghts III the Property accordmg 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 />~here applicable,. :'loss payee clause." T.rustor shall immediat.el.y notify Beneficiary of can~e~lation or. termination of the
<br />!llSuranpe. Be~eflclary shal! ~ave the ng~t to ~old. the pO~lCles and renewals. If BenefiCiary reqUIres, Trustor s~all
<br />lillilledlately give to BenefICiary all receipts of patd 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 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 right 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-REDT-NE 5/10/2005
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