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<br />200803632
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<br />B. All future advances from Beneficiary to Trust~r or other, future obligations of T~s~or to Benefic~a~y under a~y
<br />promissory note, contract, guaranty, or other eVIdence of de?texe~u~ed by Trustor ill favor of BenefIcIary after .thls
<br />Security Instrument whether or not this Security Instrument IS specIfICally referenced. If more than one person sIgns
<br />this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances and future
<br />obligations that are given to or incurred by anyone or more Trustor, or anyone or more Trustor and others. All
<br />future advances and other future obligations are ~ecured by ~is Security Instrum<:nt even though all or pa~t may ~ot
<br />yet be advanced. All future advance.s and other future obhgal1ons are secured as If made on the date of thIS Secunty
<br />Instrument. Nothing in this Security Ins!rument shall constitute '.l commitment t? make additional or future loans or
<br />advances in any amount. Any such commItment must be a~reed 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 />Beneficiary. .' .. . . .
<br />D. All additional sums advanced and expenses mcurred by BenefiCIary f<?r lllSurmg, prese~v~ng or otherwIse protectm~
<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 ~rovide any required notice of the ri&ht 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 />-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 extensions of credit and reduce the credit limit. By not exercising 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 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 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 wntten
<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 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 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 lffiprove the Property.
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<br />Property Condition, Alterations and Insfection. 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 of the occupancy and use will not substantially change without Beneficiary's 'prior written
<br />consent. Trustor will not permit any change in any license, restrictive covenant or easement without BenefIciary's prior
<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 time 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 performed. Trustor appoints Beneficiary as attorney in fact
<br />to sign Trustor s name or pay any amount necessary for performance. Beneficiary's nght to perform for Trustor shall not
<br />create. a.n o~ligation .to 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 a$rees to comply with the provisions of any lease if
<br />this Security Instrument is on a leasehold. If the Property includes a Untt 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 I)UrC~S~ or tak<: any or alJ of the P~operty tbJ"ough condemnation, emipent do~ain, or a~y other means. Trustor
<br />authorIZes BenefICIary to mtervene m Trustor s name m any of the above descnbed actIons or clalffis. Trustor assigns to
<br />Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any
<br />part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security
<br />Inst~ent. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br />other hen document.
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<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 Beneficiary require~. What Bene~iciary r~51uires pl!rsuant to the rreceding two sentences can change during the
<br />term of the S~cured Debt. The lllSurance carner provldm..z the lllSurance shal be chosen by Trustor subject to Beneficiary's
<br />approval, whl~h. sh~ll not. be unrell;sonably withheld. If Trustor. ~ails to J?ain~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,. :'Ioss payee clause." T.rustor shall immediat~ly notify Beneficiary of cancellation or termination of the
<br />!llSura~ce. Be~eflclary shal! ~ve the ng~t to hold. the pO~lcles and renewals. If Beneficiary requires, Trustor shall
<br />!JllIIled!1ltely &Ive to B<:neftclary all. receIpts of pa.ld premlU~s. and renewal notices. Upon loss, Trustor shall give
<br />tmmedlate notIce to the lllSurance carner and Beneficiary. BenefiCIary may make proof of loss if not made immediately 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 Property or to
<br />the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not
<br />extend or postpone the due date. of the. scheduled par~ent nor change ~e amount of any payment. Any excess will be paid
<br />to the Trustor. If the Property IS acqUired by ~~neflclary, Trustor's nght to any insurance policies and groceeds resulting
<br />from damage t<? !~e Property before the acqUlsll10n shall pass to BenefIciary to the extent of the Secured Debt immediately
<br />before the acqUIsitIon. (page 2 of 4)
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<br />~ @ 1994 Bankers Systems, Ino" St. Cloud, MN Form OCP-REDT.NE 5/10/2005
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