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<br />200802388 <br /> <br />5. <br /> <br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Benefic~a~y under a~y <br />promissory note, contract, guaranty, or other .evidence of de~t exe~u.ted by T!llstor in favor of Beneficiary after .thlS <br />Security Instrument whether or not this Secunty Ins~ruf!1ent ,1s speCifically re!erenced. If ~ore, than ?ne pe~son .slg~s <br />this. Se~urity [nstrumept, each T~ustor agrees that thiS Secunty I.lnstrument will secure all future adva?Ces and futme <br />obhgatlOns that are gIVen to or mcurred by anyone or more Trustor, or anyone or more Trustor and others. All <br />funlre advances and other future obligations are secured by t~is Security Instrum<:1?-t even though all or pa!t may 1?-ot <br />yet be advanced. .All ,funlr.e advan~es and other future obhg.atlons are se~ured as It made on. ~he date of thiS Secunty <br />Instrument. Nothmg m thIS Secunty Ins~rument shall constitutt: ~ commitment t? make addlttonal or future loans or <br />advances in any amount. Any such commitment must be agreed to m a separ~te wntmg.. . . <br />C. All other obligations Trustor owes to Beneficiary, whic~ may later an~e, to the extent not prohibited by law, <br />including, but not limited to, Iiabilitics for overdrafts relatmg to any depoSit account agreement between Trustor and <br />Beneficiary. .... ..' . . . <br />D. All additional sums advanced and e.xpenses mcurred by Beneftclary ft?r msunng, preser.v~ng or otherWise protectm~ <br />the Property and its value and any other sums advanced and expenses mcurred by Beneftclary under the terms of thiS <br />Security Instrument. <br /> <br />In the event that Beneficiary fails to l?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. <br /> <br />DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the <br />Secured I?<:bt and this .Security Ins~rument. If Trustor br~ac~es. any covenant i~ .this ~ection, 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 latcr considcr the evcnt a breach if it happens again. <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 that <br />created a prior security interest or encumbrance on the Property, Trustor agrees .t? ~ake all paym~nts ~hen due and to <br />perform or comply with all covenants. Trustor also agrees not to allo~ any modlflcati9n or extens~?I.l o~, nor. to request <br />any future advances under any note or agreement secured by the hen document Without BeneftClary s pnor wntten <br />approval. <br /> <br />Claims Against Title. Trustor will pay all taxe~. (including any tax assessed ~o this Deed of Trust), assessments, ,li~ns, <br />encumbrances, lease payments, ground rents, utlhties, and other charges relatmg to the Property when due. BenefiCiary <br />may re9uire Trustor to provid~ to Benefi.ciary copies of all noti~es that suc~ amounts are ~ue ap.d the !ecei~ts ~videncip.g <br />Trustor s payment. Trustor Will defend title to the Property agatnst any claims that would Impair the hen of thiS Secunty <br />Instrument. ~rustor ~grees to assign to Beneficia~y, as reques.ted by Beneficiary, any rights, claims or defenses Trustor <br />may have agatnst parties who supply labor or matenals to mamtam or Improve the Property. <br /> <br />Property Condition, Alterations and Insfcction. 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, Impairment, or deterioration of the Property. <br />Trustor agrees that. the nature l?f the occupan~y and ,-!se will not ~u~stantially change without B.eneficiary' s 'p~ior ,writt.en <br />consent. Trustor Will not permit any change many hcense, restnCllve 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. <br /> <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 shall give Trustor notice at the lime 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. <br /> <br />Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument, <br />Beneficiary mar, without notice, perform or cause them to be pcrformed. Trustor appoints Beneficiary as attorney in fact <br />to sign Trustor s name or pay any amount necessary for performance. Beneficiary's right to perform for Trustor shall not <br />create. a,n obligation Y1 perform, and Benefi,?iary' s ~ailure to perform will not preclude Beneficiary from exercising any of <br />BenefiCiary's other nghts under the law or thiS Secunty Instrument. <br /> <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 />Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned <br />unit development. <br /> <br />Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public <br />entitie~ to purcha.s<: or takt: any or al.1 of the P~operty ~ough condemnation, emipent dOJp.ain, or aflY other means. Trustor <br />authonzes BenefiCiary to mtervene m Trustor s name III any of the above descnbed actlon.~ or claims. Trustor assIgns to <br />Beneficiary the proceeds of any award or claim for damages connected witlt a condemnation or other taking of all or any <br />part of the Pr~)pertx. Such proceeds sh.all b<: considered payments a1?-d will he applied a~ provided ~n this Security <br />Instru~ent. ThiS assignment of proceeds IS subject to the terms of any pnor mortgage, deed of trust, secunty agreement or <br />other hen document. <br /> <br />Insu~ance. Trustor shall keep Prope!ty insured again~t los~ ~y .fire, tlood, theft and. otlt,er ha.zards and risks reasonably <br />assOCIated With the Property due to ItS type and location, 1 hiS IOsurance shall he malOtalOed m the amounts and for the <br />periods that Beneficiary require~. What Bene~iciary r~5luires po/suant to the preceding two sentences can changc during the <br />term of the Secured Debt. The IOsurance carner proVldlOg the tnsurance shall be chosen by Trustor subject to Beneficiary's <br />approval, whi~h. sh~ll not, be unrea.sonably withheld. If Trustor. ~ails to ~aint~in the coverage described above, Beneficiary <br />may, ,at Beneftclary s option, obtam coverage to protect BenefiCiary's nghts m tlte Property according to the terms of this <br />Secunty Instrument. <br /> <br />All insuran~~ polic~es and renewals s~,all be acceptabl~ to B<:neficiary. and shal~, i!lclude. a standar~ "mortgag~ c1~use" and, <br />~here apphcable,. ,loss payee clause. T,rustor shall Immediately notify BenefICiary of cancellation or termlOatIon of the <br />!nsuranpe. Be~eflclary shal~ ~ave the ngl?-t. to hold, the po~iCles and renewals. If Beneficiary requires, Trustor shall <br />~mmed~ately . give. to B~neflctary all .recelpts of pa.ld premnllp.s. and renewal nottc~s. Upol? loss, Trustor shall give <br />tmmedIate notice to ~he msurance carner and Beneftclary. BenefICiary may make proof of loss If not made immediately by <br />Trustor. <br /> <br />Unless otlterwise agreed in writing, all insurance proce~~s s~all be. applied to the. res,toralion or repair of the Property or to <br />the Secured Debt, whetlter or not then due, at BenefiCiary s opl1on. Any apphcatlon of proceeds to principal shall not <br />extend or postpone the due date, of the. scheduled payment nor ch.ange the amount of any payment. Any excess will be paid <br />t? tlte Trustor. If the Property IS acqlllred by: ~~neficiary, Trustor' s ri~~t to any insurance policies and proceeds resulting <br />from damage tt? ~~e Property before the acqlllsltlOn shall pass to BenefiCiary to the extent of the Secured Debt immediately <br />before the acqlllsltlon. (page 2 of 4) <br /> <br />~ @ 1994 Bankor. Systems, Inc., St. Cloud, MN Form OCP-REDT-NE 5/10/2005 <br />