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<br />200707411
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<br />B. All future advances from Beneficiary to Trustor or other future obligations of T~us~or to Benefic,~a~y under any
<br />promissory note, contract, guaranty, or other .evidence of de~t exe~l!.ted by Trustor m favor of BenefIcUlry after .thIS
<br />Security Instrument whether or not this Secunty Ins~rument .IS specIfIcally re!erenced. 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 obhgatlons are ~ecured by ~IS Secunty Instrum17nt even though all or part may ~ot
<br />yet be advanced. All future advances and other future obhgatlOns are secured as If made on the date of thIS Secunty
<br />Instrument. Nothing in this Security Instrument shall constitute ~ commitment t9. make additional or future loans or
<br />advances in any amount. Any such commitment.~ust be a~reed 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 fqr lOSurmg, prese~v~g or otherWIse protectm~
<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 that Beneficiary fails to ~rovide any required notice of the right of rescission, 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 .secti?n are. material ~b~igations und.er the
<br />Secured I?~bt and this .Security Ins!rumcnt. If Trustor br~acl?-e~ an}' covenant ~ .thIS ~ectlon, BenefICIary may, refuse to
<br />make addItIonal extensIOns of credIt and reduce the credIt hmlt. By not exerclsmg 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 .t? ~ake all paym~nts when due and to
<br />perform or comply with all covenants. Trustor also agrees not to allow any modIfIcatIon or extenSIOn of, nor to request
<br />any future advances under any note or agreement secured by the lien document without Beneficiary's prior wntten
<br />approval.
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<br />Claims Against Title. Trustor will pay all taxe~. (including any tax assessed ~o this Deed of Trust), assessments, ~i~ns,
<br />encumbrances, lease payments, ground rents, utlhl1es, and other charges relatmg 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, unpairment, or deterioration of the Property.
<br />Trustor agrees that. the nature qf the occupan~y and l!se will not ~u~stantially change without B.eneficiary' s p~ior ,wriu.en
<br />consent. Trustor WIll not permIt any change many hcense, restnctlve covenant or easement WIthOUt BenefICIary s pnor
<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 shan 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 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 Properly includes a unit in a condominium or a planned unit development,
<br />Trustor will perf()rm an of Trustor's duties under the covenants, by-laws, or regulations of the condominium 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 ~urchase 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 an or any
<br />part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security
<br />Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br />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 maintained in the amounts and for the
<br />periods that Beneficiary rey-uires. What Beneficiary re51uires 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, 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 />Secunty 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 />!mmed!ately give to B~neficiary all .receipts of pa.id premiu~s. and renewal notic~s.. Upo~ loss, Tru~tor s~all give
<br />tmmedlate notIce to the msurance carner and BenefIcIary. BenefICIary may make proof of loss If not made tmmedlately 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 risht 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 aankers Systems, Inc.. St. Cloud, MN Form OCP-REDT-NE 511012005
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