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200800050 B. All future advances from Beneficiary to Trustor or other future obligations of Trust.or to Beneficiary lJ!1der any promissory note, contract, guaranty, or o.ther evi.dence of debt ~xecut~d by Trustor m favor of Beneficiary after this Secunty Instrument whether or not thiS Secunty Instt;lment l~ specifically ref~renced. If more than one person signs this Security Instrument, each Trustor agrees that thiS Secunty Instrument will secure all future advances and future obligations that are given to or incurred by anyone or more Trustor, or anyone or more Trustor and others. All future advances and other future obligations are secured by this Security Instrument even though all or pa~ may not yet be advanced. All future advances and other future obligatio.ns are secured. as if made on the d~t~ of thiS Security Instrument. Nothing in this Security Instrument shall constitute a CO~1ll11tment to m~e addItlOnal or future loans or advances in any amount. Any such commitment must be agreed to m a separate wntmg. C. All other obligations Trustor owes to Benef1ciary, which .may later arise, .to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relatmg to any depOSit account agreement between Trustor and Beneficiary. D. All additional sums advanced and expenses incurred by Beneficiary for in~uring, preserving. or otherwise protecting the Property and its value and any other sums advanced and expenses mcurred by BenefiCiary under the terms of this Security Instrument. In the event that Beneficiary fails to provide any required notice of the right ~f rescis~ion, Beneficiary waives any subsequent security interest in the Trustor's principal dwelling that is created by thiS Secunty Instrument. S. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the Secured Debt and this Security Instrument. If Trustor breaches any covenant in this section, Beneficiary Iilay refuse to make additional extensions of credit and reduce the credit limit. By not exercising either remedy on Trustor's breach, Beneficiary does not waive Beneficiary's right to later consider the event a breach if it happens again. Payments. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of the Secured Debt and this Security Instrument. Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Trustor agrees to !flake. all payments. when due and to perform or comply with all covenants. Trustor also agrees not to allow ,any modlficatlO~ or extenSl?"; of" nor, to request any future advances under any note or agreement secured by the hen document without BenefiCiary s pnor wntten approval. Claims Against Title. Trustor will pay all taxes (including any tax assessed to this Deed of Trust), assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Benef1ciary copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or materials to maintain or improve the Property. Property Condition, Alterations and Inspection. Trustor will keep the Property in good condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of the Property. Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will m no way rely on Beneficiary's inspection. Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as attorney in fact to sign Trustor's name or pay any amount necessary for I?erformance. Beneficiary's right to perform for Trustor shall not create an obligation to perform, and Beneficiary's fallure to perform will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or this Security Instrument. Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condomimum or a planned unit development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned unit development. Condemnation. Trustor will give Beneficiary prompt notice of any pendin~ or threatened action, by private or public entities to purchase or take any or all of the Property through condemnatlOn, eminent domain, or any other means. Trustor authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or claims. Trustor assigns to Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security Instrument.. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other hen document. Insurance. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated with the Property due to its type and location. This insurance shan be maintained in the amounts and for the periods that Beneficiary requires. Wh!,lt Beneficiary .requires. p.ursuant ~o the preceding two sentences can change during the term of the Secured Deht. The msurance carner provldmg the msurance shall be chosen by Trustor subject to Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to the terms of this Security Instrument. All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and, ,^,:here applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination ?f the ~nsuranc~. Beneficiar~ ~hall have th~ right. to ~old the policies and renewals. If Beneficiary requires, Trustor shall ~mmed~ately g.lve to Be!1eflclary all ~ecelpts of pal~ premmms ~nd renewal notices. Upon loss, Trustor shall give Immediate notice to the msurance carner and Beneficiary. BenefiCIary may make proof of loss if not made immediately by Trustor. Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the Trustor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition. Ex{'5EifE.@ 01994 Bankers Systems,lna.. SI. Cloud, MN Form OCp.RWT-N~ 5110/2005 . -C465(NE) IOS06) @ C-07-12-12-000036 k (pageAu' 4)