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<br />200710297
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<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, 9r other .evidence of de~t exe~u.ted by Trustor in favor of Beneficiary after .this
<br />Security Instrument whether or not thiS Secunty Inst.rument .IS speCifically referenced. If ~ore than one person .slgns
<br />this Security Instrument, each Trustor agrees that thiS Secunty Instrument Will secure all future advances and future
<br />obligations that arc given to or incll;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 Instrum~nt even though all or part ~ay ~ot
<br />yet be advanced. All futur.e advan~es and other future obhg.atlOns are se~ured as If made on. t.he date o.f thiS Secunty
<br />Instrument. Nothing in thiS Secunty Ins!rument shall constitute '.l commitment t~. make additIonal or future loans or
<br />advances in any amount. Any such commitment must be agreed to m 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 and
<br />Benefic~a.ry. .... ." '. . .
<br />D. All additional sums advanced and expenses lllcurred by BenefiCiary fl.!r msunng, prese~v!llg or otherWise prote~tm,g
<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. I?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 />S. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the
<br />Secured I?t;bt and this .Security Ins!rumenl. If Trustor br~acJ.tes. any covenant i~ .this ~ection, Beneficiary may, refilse to
<br />make addltlOnal extensIOns of credit and reduce the credit hmll. 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 ~ll ,paYfllents under the Secured Debt will be paid when due and in accordance with the
<br />terms of the Secured Debt and tillS Secunty 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 />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 wnlten
<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 to provide to Beneficiary copies of all notices that such amounts arc 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, Alterati~~s and Inspection. T~lstor will keep the Property. in good condit~on ~nd make all repairs
<br />that are reasonably necessary. I rustor shall not commit or allow any waste, Iffipalrment, 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 />co~sent. Trustor will not permit .~ny chan,g~ in a~y license, restrictive ~ovenant .or casement. without. Beneficiary's prior
<br />wntten consent. Trustor Will notify BenefiCIary of all demands, proceedlllgs, claIms, and actIOns agamst 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, entcr the Property at any reasonable time for the purpose
<br />of inspectmg the Property. ,Benefi~iary shall. give :rrustO! notice at the time of or. before an insp'e~tion specifying a
<br />reasonable purpose for the mspectlon. Any lllspeCtIon 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 Perfonn. 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 Trust?r s, name or pay any amount .n~ces~ary . for performancc. l,leneficiary's right to p~rform for Trus~o~ shall not.
<br />create an obhgatlon 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 />Tr~stor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned
<br />umt development.
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<br />CO!l~emnation. Trustor will give Beneficiary prompt notice of any p~nding qr threaten~d action, by private or public
<br />entitIes to purchase or take any or all of the Property through condemnation, emment domam, or any other means. Trustor
<br />autho~iz:es Beneficiary to intervene in Trusto(s name in any of the above. described acti~ns or claims. Trustor assigns to
<br />BenefiCiary the proceeds of any award or claIm for damages connected With a condemnatlOn or other taking of all or any
<br />part of the ,Pr~pert~. Such proceeds sh.all ~ considered payments aJ!.d will be applied as provided ~n this Security
<br />Instrul1lcnl. fhls assignment of proceeds IS subject to the terms of any pnor mortgage, deed of trust, secunty agreement or
<br />other hen document.
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<br />Insu~ance. ~rustor shall keep Property insured again~t lo~~ ~y. fire, flood, theft and, oth,er ha.zards and risks reasonably
<br />assOCiated With the Property due to ItS type and locatIOn. I hiS msurance shall be mamtamed m the amounts and for the
<br />periods that Beneficiary require~. What Bene~iciary r~~uires pl!rSuant to the preceding two sentences can change during the
<br />term of the Secured Debt. The msurance carner provIdmg the msurance shall be chosen by Trustor subject to Beneficiary's
<br />approval, whil;:h. sh~ll not, be uurea.sonably withheld. If Trustor. ~ai1s,to J..11aint~in the coverage described above, Beneficiary
<br />may, .at BenefiCiary s optIOn, obtam coverage to protect BenefiCIary s nghts m 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 />~here applicable:. :'loss payee clause." T,rustor shall immediat~l)' notify Beneficiary of can~e~lation or termination of th~
<br />!nsura~ce. Be~eftclary shal! .have the ng~t to ~oId. the pO!lcles and renewals. If BenefICIary requires, Trustor shall
<br />!mmed!ately glVe to Bt:neflclary all .recelpts of 11a.ld premlUJ!1s. and renewal notlc~s., Upo~, loss, Tru~tor shall give
<br />lll1medlate nottce to the msurance carner and Beneficiary. BenefiCiary may make proof of loss If not made munediately 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 Prorerty 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 postpoJ!.e the due date. of the. scheduled paY11.lent l}~r cha~ge ~he amount ?f any payment. Any excess will be paid
<br />t? the Trustor. It the Property IS acqmred by: ~~neflCiary, I rustor s fl8~t to any msurance policies and groceeds resulting
<br />fro!ll damage tl.! ~e Property before the acqmsltlOn shall pass to BenefiCiary to the extent of the Secured Debt immediately
<br />before the acqmsltJon. (page 2 of 41
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<br />~ @ 1994 Ilankers Systems, Inc.. St, Cloud, MN Form OCP-REDT-NE 5110/2005
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