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<br />200703397
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<br />s.
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<br />B. All future advances from Beneficiary to Trustor or other future obligations of T~s~or to Benefic}a~y under a~y
<br />promissory note, contract, guaranty, ,?r other .evidence of de~l exe~u.ted by T!llstor m favor of Beneficiary after .thlS
<br />Security Instrument whether or not thiS Secunty Ins~ument .IS speCifically re!erenced. If ~ore than one person .slgns
<br />this. Se~urity Inslrume.nt, each Tt:ustor agrees that thiS Secunty Instrument will secure all future advances and future
<br />obligations that arc gIVen to or mcurred by anyone or more Trustor, or anyone or moreTrustor and others. All
<br />future advances and other future obligations are ~ecured by ~is Security Instrum~nt even though all or. pa~t may qot
<br />yet be advanced. All future advances and other future obligations are secured as If made on the date of thiS Secunty
<br />Instrument. Nothing in this Security Ins~rument shall constitute ~ commitment t~). make additional or future loans or
<br />advances in any amount Any such commltment,~ust be agreed 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, liabililies for overdrafts relating to any deposit account agreement between Trustor and
<br />Beneficiary. ," , ., . , .
<br />D, All additional sums advanced and expenses mcurred by Beneftclary fqr msunng, preseEv~g or otherwise prote~tm~
<br />the Property and its value and any other sums advanced and expenses mcurred 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 pnnclpal dwelling that IS created by thiS Secunty Instrument.
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<br />DEED OF TRUST COVE~ANTS. Truslor ag~ees that the covenants in this ,secti~m are. material ~b~igations un~er the
<br />Secured Debt and this Secunty Inslrument. If 1 ruslor breaches any covenant m thiS sectIOn, BenefiCiary may refuse to
<br />make additional t:xtensions of crt:dit and reduce the credit limit. By not exercising either remedy on Trustor's breach,
<br />Bendiciary does not waive Beneficiary's right to later considt:r 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 interesl or encumbrance on lht: Property, Trustor agret:s,h,l ~ake all paym~nts when due ami to
<br />perform or comply with all covenants. Trustor also agrees nol to allo,?, any modlflcatlqn or extensl~~ o~, nor. to request
<br />any future advances undt:r 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 Properly when due, Beneficiary
<br />may re9uire Trustor to provid~ to Benefi,ciary copies of all noti~es that sucp. amounts are ~ue a!1d the ~eceipts ~videnci!1g
<br />Trustor s par,ment. Trustor Will defend title to the Property agamst any claims that would Impair the hen of thiS Secunty
<br />Instrument. frustor 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 Insfection. Truslor 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 tht: nanlre 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 Bendiciary'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 inspt:ction. Any inspection of the Property shall be entirely for Beneficiary's benefit and
<br />Truslor 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 />Ben~ficiary may, without notice, perform or cause them to be performed. T!:ll~tor aPl?oints Bene.ficiar~ as attorney in fact
<br />to sign Trust?r s. name or pay any amount ,n~cessary ,for performance, ~enehclary's nght to .p~rform for Trus~o~ shall not
<br />create an obligation to perform, and Beneficiary's failure 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 Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a planned unit development,
<br />Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned
<br />unit devdopment.
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<br />Condemnation. Trustor will give Beneficiary prompl 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 lkneficiary 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 hen document.
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<br />Insurance. Trustor shall ket:p 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 re5luires pursuant to the preceding two sentences can change during the
<br />term of the Secured Debt. The insurance carrier providmg the insurance shall be chosen by Trustor subject to Benefic.iary'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 proceeds shall be applied to the restoration or repair of the Proferty or to
<br />the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principa 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 Jx.llicies and proceeds resulting
<br />from damage tq ~e Property before the acquisition shall pass to Beneficiary to the t:xtent of the Secured Dt:bt immediately
<br />before the acqUlSlllon. (page 2 of 41
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<br />~ (c) 1994 Bankers Systems, Inc., St. Cloud, MN Form OCP-REDT-NE 511012005
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