<br />200802388
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<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.
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<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.
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<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.
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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 ~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.
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<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.
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<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.
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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 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.
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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 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.
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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 />Trustor will perform all 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 />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.
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<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.
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<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.
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<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)
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<br />~ @ 1994 Bankor. Systems, Inc., St. Cloud, MN Form OCP-REDT-NE 5/10/2005
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