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<br />200705148
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<br />B. All f\1ture advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />promIssory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after
<br />this Secunty Instrument whether or not this Security Instrument is specifically referenced. If more than one person
<br />signs this Security Instrument, each Trustor agrees that this Security 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 ~ot yet be advanced. All future advances and other future obligations are secured as if made on the date of this
<br />Secunty Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or
<br />future loans or advances in any amount. Any such commitment must be agreed to in a separate writing.
<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 Trusto;
<br />and Beneficiary.
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<br />D. All ad~itional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise
<br />protectmg the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the
<br />terms of this Security Instrument.
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<br />In the event tha~ Bl?neficia~y fails to pr~vidc;: a~y require.d noticc; of the right of rescission, Beneficiary waives any
<br />subsequent secunty lOterest III the Trustor s pnnclpal 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 I?~bt 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 />ProI?erty Condition, Alterations and Inspection, Trustor will keep the Property in good condition and make all
<br />repatrs 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 casement without
<br />Beneficiary's prior written consent. Trustor will notify Beneflciary 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 Beneflciary' 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 III 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 I?erformance. Beneficiary s right to perform for
<br />Trustor shall not create an obligation to perform, and Beneficiary's fatlure 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 />~eas~holds; ~ondominium~; Planned Unit Developments. Tru.stor agrees to .co.mply with th~ provisions of any lea~e
<br />If thIS Secunty Instrument IS on a leasehold. If the Property Illcludes a Untt 10 a condomlOlum or a planned Untt
<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 />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.
<br />Trustor authorizes Beneficiary to intervene in Trustor's name in any of the above described actions 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 lien 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 ~aintained in the amounts and for ~he
<br />periods that Beneficiary requires. What Beneficiary requires pursuant to the precedlOg two sentences can change dunng
<br />the term of the Secured Debt. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br />Beneficiary's approval, which shall ~ot be unr~asonably. withheld. If Trustor fails to m,!-int~in t~e co,:,erage described
<br />above, Beneficiary may, at BeneficIary's optIon, obtalO coverage to protect BeneficIary s fIghts m the Property
<br />according to the terms of this Security Instrument.
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<br />All insurance policies and renewals shall be acceptable t~ Bene~iciary an~ shall incl,ude a standard :'mortgage ~lau~e"
<br />and, where applicable, "loss payee clause." Trustor shall Imme~I~tely notIfy BeneflCIary of ?ancellatI?n or termlOatIOn
<br />of the insurance. Beneficiary shall have the right to hold the polIcIes and renewals. ~f BeneficIary requIres, Trustor s~all
<br />immediately give to Beneficiary all receipts of paid premIUms ~d renewal notIces. Upon loss, Trusto~ shall. gIve
<br />immediate notice to the insurance carrier and Beneficiary. BeneficIary may make proof of loss If not made ImmedIately
<br />by Trustor.
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of. th~ Property or
<br />to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to pnnclpal sha!l not
<br />extend or postpone the due date of t~e sche~uled payment J?or change t~e a~ount of any payment. A-ny excess wIll be
<br />paid to the Trustor. If the Property IS acquIred by Be?~f!clary, Trustor s nght tc! any msurance polIcIes 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 />C-07-06-13-000057
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<br />(page 2 of 4)
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<br />~@ <D 1994 Bankers Systems, Ino.. SI. Cloud. MN Form OCP-REDT-NE 5/10/2005
<br />
<br />. -C465(NE) 105061
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