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<br />200704562
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<br />B. All future advances from Beneficiary to Trustor or other future obligations of T~st.or to Benefic.!arY under a~y
<br />promi.ssory note, contract,. guaranty, 9r other .evidence of de!:>t exe<:u.ted by Trustor m f~vor of Beneficiary ~fter .thls
<br />Secunty Instrument whether or not thiS Secunty Ins~rument .IS specifically referenced. If more than one person signs
<br />this Security Instrument, each Trustor agrees that this Secunty Instrument will secure all future advances and future
<br />obligations that are given to or inc~rre~ by anyone or more. Trustor.' or anyone or more Trustor and others. All
<br />future advances and other future obhgattons are secured by ~IS Secunty Instrumt;:nt even though all or. pa~t ~ay l!ot
<br />yet be advanced. All future advances and other future obhgattons are secured as If made on the date of thiS Secunty
<br />Instrument. Nothing in this Security Instrument shall constitute '.l commitment t? make additional or future loans or
<br />advances in any amount. Any such commitment.1I?-us( be agreed to m a separ~te 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, liabilities for overdrafts relating to any deposit account agreement between Trustor and
<br />Beneficiary. ." ... . . .
<br />D. All additional sums advanced and expenses mcurred by BenefiCiary for Insurmg, prese~v!ng or otherwise protectmg
<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 t~( ~enefici'.lry fails to 1?rovi~e. any req~ired no.tice of the right of ~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 />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 />perfo~m or comply with all covenants. Trustor also agrees not to allo~ any modificatil?n or extensi.o~ 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,!O provid~ to Benefi.ciary copies of all noti~es that suc~ amounts are ~ue ap.d the ~eceipts ~videnci!1g
<br />Trustor s payment. I rustor Will defend tttle to the Property agamst any clauns that would unpalr the hen of thiS Secunty
<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 unprove the Property.
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<br />Property Condition, Alterations and Insrection. Tr~stor will keep the Property. in good condit!on '.lnd make all repairs
<br />that are reasonably necessary. Trustor shal not commit or allow any waste, unparrment, or detenoratlOn 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 />wrillen const:nt. 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 nolice, perform or cause them to be performed. Trustor appoints Beneficiary as attorney in fact
<br />to sign Trustor s name or pay any amount neccssar~ for performance. Beneficiary's nght 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 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 development.
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<br />CO!l~emnation. Trustor will give Beneficiary prompt notice of any p~nding ~r threatent;:d action, by private or public
<br />entitles to purchase or take any or all of the Property through condemnation, emment domam, or any other means. Trustor
<br />authorizes Beneficiary to inlervent: 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 />Instr~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 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 re9uires 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 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 insuran~e polic~es and renewals s~,all be acceptabl~ to B~neficiary. and shall. ip.clude a standar~ "mortgag~ cl~use" ~nd,
<br />where apphcable, loss payee clause. Trustor shall Immediately notify BenefiCiary of cancdlatlon or termtnatlon of the
<br />!nsura~ce. Be~eficiary shal.~ pave the rig~t to hold. the po~icles and renewals. I~' Beneficiary requires, Trustor shall
<br />lmmt:dIately give to BenefiCiary all receipts of paid premmms and renewal notices. Upon loss, Trustor shall give
<br />immediate notice to the insurance carrier and Beneftciary. 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 pay~ent nor change ~e amount ~f any payme:n~. Any excess will be paid
<br />to the Trustor. If the Property 1S acqUlred by Benehclary, Trustor's fight to a. ny msurance poliCies and proceeds resulting
<br />fro!ll damage t~ !~e Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br />before the acqUlsltlon. (page 2 of 4)
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<br />~ @ 1994 Bankers SY5tem5, Ino.. SI. Cloud. MN Form OCP-REDT-NE 5110/2005
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