|
<br />200710669
<br />
<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trust.or to Beneficiary upder any
<br />promissory note, contract, guaranty, or o.ther evi.dence of debt ~xecut,?d by Trustor m favor of Beneficiary after
<br />this Secunty Instrument whether or not thiS Secunty Inst~ment I~ specifically ref~renced. If more than one person
<br />signs this Security Instrument, each Trustor agrees that thiS Secunty 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 pa~
<br />may not yet be advanced..AIl future advances and other future obligatio.ns are secur~ as if made on the d~t'? of thiS
<br />Security Instrument. Nothing in this Security Instrum~nt shall constitute a co~nutment to m~~e additional or
<br />future loans or advances in any amount. Any such comnutment 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 probhibited by law,
<br />including, but not limited to, liabilities for overdrafts relating to any deposit account agreement etween Trustor
<br />and Beneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for in~uring, preservin~. 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 of rescission, Beneficiary waives any
<br />subsequent security interest in the Trustor's principal dwelling that is created by this Security Instrument.
<br />
<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 extensi?ns of cred!t and ~educe the credit . limit. By not exercisi~g .either remedy. on. Trustor's breach,
<br />Beneficiary does not waive BenefiCiary's nght to later consider the event a breach If It happens agam.
<br />
<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.
<br />
<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 perfoml 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 Benetlciary's prior
<br />wntten approval.
<br />
<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 re~uire 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.
<br />
<br />Property Condition, Alterations and Inspection. Trustor will 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 Benetlciary's
<br />prior written consent. Trustor will not pennit any change in any license, restrictive covenant or easement without
<br />Benetlciary'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.
<br />
<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. Benetlciary 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 Benetlciary's
<br />benetlt and Trustor will m no way rely on Beneficiary's inspection.
<br />
<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 fallure to perform will not preclude Benetlciary
<br />from exercising any of Beneficiary's other rights under the law or this Security Instrument.
<br />
<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.
<br />
<br />Condemnation. Trustor will give Beneficiary prompt notice of any pendin~ or threatened action, by private or public
<br />entities to purchase or take any or all of the Property through condenmatlOn, 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.
<br />
<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 Benetlciary requires. Wh~t Beneficiary .requires. p~rsuant ~o the preceding two sentences can change during
<br />the term of the Secured Debt. The msurance carner provldmg the msurance shall be chosen by Trustor subject to
<br />Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described
<br />above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property
<br />according to the terms of this Security Instrument.
<br />
<br />All insurance policies and renewals shall be acceptable to Benetlciary 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~. Beneficiary ~hall have th,? right to ~old the policies and renewals. If Beneficiary requires, Trustor shall
<br />!mmed!ately g.lve to Be~eficlary all ~ecelpts of Palq prem1Um~ ~nd renewal notices. Upon loss, Trustor shall give
<br />Immediate notice to the msurance carner and Beneficiary. BenefiCiary may make proof of loss if not made immediately
<br />by Trustor.
<br />
<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 Beneficiary's option. Any application of proceeds to principal shall not
<br />ex~end or postpone the due date of the scheduled payment nor change the amount of any payment. An,! excess will be
<br />paid t.o the Trustor. If the Property is acquired by Be~'?f!ciary, Trustor's right to any insurance poliCIes and proceeds
<br />resultmg from damage to the Property before the acqmSltlOn shall pass to Beneficiary to the extent of the Secured Debt
<br />immediately before the acquisition.
<br />
<br />C-07-12-17-000054
<br />
<br />(page 2 of 4J
<br />
<br />~rl> 01994 Bankers Systems. InG" 51. Cloud. MN Form OCP-REOT-NE 5/10/2005
<br />
<br />. -C465(NE) 105061
<br />@
<br />
|