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<br />200806765
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<br />5.
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<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after this
<br />Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs
<br />this. Se~urity Instrume,nt, each T~ustor agrees that this Security Instrwnent will secure all future advances and future
<br />obhgatlOns that are glven (0 or mcurred by anyone or more Trustor, or anyone or more Trustor and others. All
<br />future advances and other future obligations are secured by this Security Instrument even though all or part may not
<br />yet be advanced. All future advances and other future obhgations are secured as if made on the date of this Security
<br />Instrument. Nothing in this Security Instrument shall constitute a connnitment to make additional or future loans or
<br />advances in any amount. Any such commitment must be a&reed to in a separate writing.
<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 Sut!ls advanced and expenses incurred by Beneficiary f~r insuring, prese~~ng or otherwise protecting
<br />the Property and its value and any otlier sums advanced and expenses mcurred by Beneficrnry under the tenns of thiS
<br />Security Instrument.
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<br />In the event that Beneficiary fails to ~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 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 ~ll payrp.ents under the Secured Debt will be paid when due and in accordance with the
<br />terms of the Secured Debt and this Secunty 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 allo~ any modificatil?n or extensi,o~ of, nor, to request
<br />any future advances under any note or agreement secured by the hen docutnent Without BenefiCiary's pnor 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 pa~ment. Trustor will defend title to the Property against any claims that would impair the lien of this Security
<br />Instrument. frustor 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 llIlprove the Property,
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<br />Property Condition, Alterations and Insrection. 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, llIlpainnent, 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 chan~e 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 perfonn any duty or any of the covenants contained in this Security Instrument,
<br />Beneficiary may, without notice, perform or cause them to be perfomled. 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 an obligation to perfoml, and Beneficiary's failure to perfoml 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 perfoml 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 Beneficiary 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 />Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br />other lien 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 />ass9ciated with th~ ,Property, due to its type ~n,d locatio!l' This insurance shall be, maintained in the amounts and for the
<br />penods that Beneficrnry reqUires. What Beneficrnry re9,ulres pursuag.t to t/)e .frece4mg .two sentences can change dunng the
<br />term of the Secured Debt. The insurance carrier providmg tbe insurance sbal be chosen by Trustor subject to Beneficiary's
<br />approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, Beneficiary
<br />may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to the terms of thIS
<br />Security 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 />7"here applicable" :'loss payee clause." T,rustor shall immediat.e1y notify Beneficiary of can~e!lation or, termination of the
<br />insurance, Beneftcrnry shall have the nght to hold the pohcles and renewals. If BenefICIary requues, Trustor shall
<br />immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br />immediate notice to the insurance carrier 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 payment nor change the amount of any payment. Any excess will be paid
<br />to the Trustor. If the Property is acquired by. ~~neficiary, Trustor' s ri,g~t to any insurance polici~s and llrocee,ds res':11ting
<br />from damage to the Property before the acquIsItIOn shall pass to Beneficrnry to the extent of the Secured nebt llIllIlediately
<br />before the acquisition. (p8'J1e 2 of 4)
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<br />J3,D,~ . AS
<br />P,
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<br />~(FJ (Q) 1994 Banko.. Systoms,lno., St. Cloud, MN Form OCP-REDT-NE 5/10/2005
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