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<br />200805696
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<br />B. All future advances from Beneficiary to Trusto.r or oth~r future obligations of T~ustor to ~enefic~a~y un4er any
<br />promissory note, contract, guaranty, or other .evldence of de~t exe~u~ed by Trustor m favor of Beneficiary after .thlS
<br />Security Instrument whether or not this Secunty Ins~rument .IS specifically referenced. If more than one person signs
<br />this Security Instrument, each Trustor agrees that thiS Secunty 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 secured by ~is Security Instrum~~t even though all or paft may l!-ot
<br />yet be advanced... All future advances and other future Obhgatlons. are secured as If made on the date of thiS Secunty
<br />Instrument. Nothing in this Security Ins~rument shall constitute ~ commitment t~. make additional or future loans or
<br />advances in any amount. Any such commltment}~ust be asreed tom a separ!lte wntmg. . .
<br />C. All other obligations Trustor owes to Beneficiary, which may later anse, 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 lIlCurred by BenefiCiary f,?r lllSurmg, presel!'!Ilg or otherwise protectmg
<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 provide any required notice of the right of t:escission, Beneficiary waives any
<br />subsequent security interest in the Trustor's principal dwelling that is created by thiS Secunty 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 .tl? ~ake all paym~nts when due and to
<br />perform or comply with all covenants. Trustor also agrees not to allow any modlflcatlon or extension of, nor to request
<br />any future advances under any note or agreement secured by the lien document without Beneficiary's prior wfltten
<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, utilitles, 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. l~rustor ~grees to assign to Beneficia~y, as reques.ted by Beneficiary, any rights, claims or defenses Trustor
<br />may have agalllSt partles who supply labor or matenals to mamtam or Improve the Property.
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<br />Property Condition, Alterations and Insrection. Tr~stor will keep the Property. in good condit~on l;ind ~ke all repairs
<br />that are reasonably necessary. Trustor shal not commit or allow any waste, lffipalrment, or detenoratlon 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 may, 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 an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of
<br />Beneficiary's other rights under the law or this Security 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 />entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Trustor
<br />authorizes --Seneficiary to intervene in Trustor's name in any of the above described actions or claims. 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 />Instr~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 requires. What Beneficiary re9uires pursuant to the rreceding two sentences can change during the
<br />term of the Secured Debt. The insurance carrier providmg the insurance shal be chosen by Trustor subject to Beneficiary's
<br />approval, whi~h. sh~ll not. be unre~sonably withheld. If Trustor. ~ails to l?ainl<!in the coverage descri?cd above, Beneficiary
<br />may, .at BenefiCiary s option, obtam coverage to protect BenefiCiary's fights m the Property accordmg 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 />where applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination of th~
<br />~nsura~ce. Be~eficiary shaq pave the rig~t to hold. the po~icles and renewals. I~ Beneficiary requires, Trustor shall
<br />!fi11lled!ately . give to B~neflclary all .recelpts of pa.ld prem1U~s. and renewal notices. Upon loss, Trustor shall give
<br />unmedlate nobce to the msurance 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 pa:r~ent nor cha~ge ~e amount ?f any paymt;n~. Any excess will be paid
<br />t? the Trustor. If the Property I~ acqUired b~ ~~neflclary, Trustor s fl8~t to any lllSurance pohcles and proceeds resulting
<br />fro!Il damage tf? ~~e Property before the acqUisition 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, Inc" St. Cloud, MN Form OCP-REDT-NE 5/10/2005
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