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<br />200707325
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<br />B. AII future advances from Beneficiary to Trustor or other future obligations of Trust.or to Beneficiary. u.oder any
<br />promissory note, contract, guaranty, or o.ther evi.dence of debt ~xecut~ by Trustor In favor of BenehcIary after
<br />this Secunty Instrument whether or not thIS Secunty Inst~ment I~ specIflcaIly ref~renced. If more than one person
<br />signs this Security Instrument, each Trustor agrees that thIS Secunty Instrument wIIl secure all future advances and
<br />future obligations that are given to or incurred by anyone or more Trustor, ~r anyone or more Trustor and others.
<br />AII future advances and other future obligations are secured by this Secunty Instrument even though all or part
<br />may not yet be advanced. ~ll f~ture ~dvance~ and other future obligatio.ns are secure~ as if made on the d~t~ of this
<br />Security Instrument. NothIng In thIS Secunty Instrument shall constitute a cO~ltment to m~~e addltlOnal or
<br />future loans or advances in any amount. Any such commitment must be agreed to In 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
<br />
<br />and Beneficiary. .' . .. . .
<br />D. All additional sums advanced and expenses Incurred by BenefICIary for In~unng, preservmg. or otherWIse
<br />protecting the Property and its value and any other sums advanced and expenses mcurred by BenefiCIary under the
<br />terms of this Security Instrument.
<br />In the event that Beneficiary fails to provide any required notice. of the right ~f rescis~ion, Beneficiary waives any
<br />subsequent security interest in the Trustor's principal 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 ~ecti?n are.material o~)l.igations under the
<br />Secured I?~bt and this ~ecurity Ins~rument. If Trustor br~ac~c~ any covenant I!l.thIS ~ectIon, BenefICIary may, ~efuse to
<br />make addItional extenSIOns of credIt and reduce the credIt InUIt. By not exercIsn~g .eIther remedy. on Trustor s breach,
<br />Beneficiary does not waive Beneficiary's right to later consider the event a breach If 1t happens agam.
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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 />written approval.
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<br />Claims Against Title. Trustor will pay alI 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 alI notices that such amounts are due and the receipts evidencing
<br />Trustor's payment. Trustor wiIl 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 />Property Condition, Alterations and Inspection. Trustor wilI keep the Property in good condition and make all
<br />repairs 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 easement without
<br />Beneficiary's prior written consent. Trustor will notify Beneficiary 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 Beneficiary'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 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
<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 performance. Beneficiary s right to perform for
<br />Trustor shall not create an obligation to perform, and BenefIciary's failure 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 />Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions of any lease
<br />if this Security Instrument is on a leasehold. If the Property includes a unit in a condomimum or a planned unit
<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 pendinj?; 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 shalI be maintained in the amounts and for the
<br />periods that Beneficiary requires. What Beneficiary requires pursuant to the preceding two sentences can change during
<br />the term of the Secured Debt. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br />Beneficiary's .al?proval, which shalI. ~ot l~e unr~asonably. withheld. If Trustor fails to m~intain t~e coverage described
<br />above, BenefICIary may, at BenehcIary s option, obtaIn coverage to protect BenefiCIary's nghts in the Property
<br />according to the terms of this Security Instrument.
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<br />All insurance policies and renewals shalI be acceptable to Beneficiary and shall include a standard "mortgage clause"
<br />and, where applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination
<br />~f the ~nsuranc~. Benetlciary ~hall have th~ right to ~old the policies and renewals. ~f Beneficiary requires, Trustor shall
<br />ImmedIately gIVe to BenehClary alI receIpts of paId premIUms and renewal notIces. Upon loss, Trustor shall give
<br />immediate notice to the insurance carrier and Benetlciary. Benetlciary may make proof of loss if not made immediately
<br />by 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
<br />to the Secured Debt, whether or not then due, at Benetlciary'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
<br />paid to the Trustor. If the Property is acquired by Beneficiary, Trustor's right to any insurance 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-07~08-10-000045
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<br />(page 2 of 4)
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<br />~@ 01994 Bankers Systems,lne" St. Cloud, MN Form OCP-REDT-NE 5/10/2005
<br />
<br />. -C465(NE) 105061
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