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�0100821�
<br />B. All future advances from Beneficiary ta Trustor or other future obligations af Trustor ta Beneficiary under any
<br />� rornissory note, contract, guaranty, or other evidence of debt execut�d by Trustor in favor of Beneficiary after this
<br />ecurity Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs
<br />this Security Instrurnent, each Trustor agrees that this Security Instzvznent will secure all future advances and future
<br />obligations that are given to or incurred by any one or more Trustor, or any one or more Trustor and others. All
<br />future advan�ces 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 obh�ations are secured as if rnade on the date of this Security
<br />Instrument. Nothing in this Security Instrument sha11 constrtute a commitm,ent to make additional or future loans or
<br />advances in any amount. Any such commitment must be agreed to in a separate writing.
<br />C. All other obligations Trustor awes to Beneficiary, which amay 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 incurred by Beneflciary for insuring, preserving or otherwise protecting
<br />the Property and its value and any other suzns advanced and expenses incurred by Beneficiary under the terms of this
<br />Security Instrurnent.
<br />In the event that Beneficiary fails to provide any, necessary notice of the right of rescission with respect to any additional
<br />indebtedness secured under paragraph B of this Sectxon, Beneficiary waives any subsequent securrty interest m the
<br />Trustor's principal dwelling that �s created by this 5ecurity Insttument (but does not waive the security mterest for the
<br />debts referenced in paragraph A of this Section).
<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 cnvenant in this sectian, Beneficiary may refuse to
<br />make additional extensions of credit and reduce the credit limit. By not exercisin� either rennedy on Trustor's breach,
<br />Beneficiary does not waive Beneficiary's right to later consider the event a breach if it happens again.
<br />Yayments. '1"rustor 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 5ecurity Instrument.
<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 oza 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 written
<br />approval.
<br />Claims Against Title. Trustar will pay all taxes (including any tax assessed to this Deed of 'I'rust), assessments, liens,
<br />encumbxances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary
<br />may rec�uire Trustor to provide to Beneficiary copies of a11 notices that such amounts are due and the receipts evidencing
<br />Trustor s payment. Trustor will defend title tn the Property against any claims that would im.pair the lien nf this SecuriCy
<br />Instrument. Trustar a�rees to assign to Beneficiary, as requested by . Beneficiary, any rights, claims or defenses Trustor
<br />may have against parties who suppiy labor or �x►aterials to maintain or improve the Property.
<br />Property Condition, Alterations and Inspection. Trustor will keep the Property in good condition and make all repairs
<br />that are reasonably necessaxy. Trustar shall not comrnit or allow any waste, impairment, or deterioration of the Property.
<br />Trustor agrees that the nature of the occupancy and use will not substazatially change without Beneficiary's �rior written
<br />consent. Trustor will not permit . any chan.�ge in any license, restrictive covenant or easement without Benefaciary's prior
<br />written consent. 'I'rustor wzll notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of
<br />any loss or damage tn the Property.
<br />Beneficiary or Beneficiary's agents may, at Bene�ciary 's option,.enter the Property at any reasonable time for the purpose
<br />af inspectmg the Property. Bene�ciary shall give Trustor not�ce at the time of or before an ins ection speclfy mg a
<br />reasanable purpose for the inspection. Any inspection of the Property shall be entirely for Bene�iciary's benefit and
<br />Trustor will in no way rely on Seneficiary's inspection.
<br />Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrumez�t,
<br />Beneficiary ma�, without notice, perfoz7m or cause them to be perforn�ed. Trustor ap�oints Beneficiary as attorney m fact
<br />to sign 'I'rustor s name or pay any amount necessary for performance. Beneficiary's rxght to perform for Trustor shall not
<br />create an nbligation 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.
<br />Leaseholds; Condominiurns; 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 umt in a condominiu�ni or a planned unit developnnent,
<br />Trustor will perfor►n all of Trustor's duties under the covenants, by-laws, or regulations of the condominiuzn or planned
<br />unit development.
<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 condeznnatian, eminent domain, or any other means. 'Irrustor
<br />authorizes Beneficiary to intervene in Trustor's name m any of the above dascribed actions or claims. Trustor assigns to
<br />Beneficiary the proceeds of any award or claim for damages connected with a condemnation or ather 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 nf proceeds is subject to the terms of any prioar zr�ortgage, deed of trust, security agreement or
<br />other lien document.
<br />Insurance. Trustor shall keep Property insured against loss by fir�, flood, theft and other hazards and risks reasonably
<br />associated with the Property due to its type and location. 'I"his insurance shall be nnaintained in the amounts and for the
<br />periods that Bene�ciary requires. What Beneficiary requires pursuant tn the preceding two sentences can change during the
<br />term of the loan. 'T'he insurance carrier providing the insurance shall be chosen by Ttvstor subject to Beneficiary's
<br />approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, $eneficiary
<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.
<br />All insurance policies and renewals shall be acceptable to Beneficiary shall include a standard "mortgage clause" and,
<br />where applicable, "loss payee clause." Trustor shall immediately natify Beneficiary of cancellation or termination of the
<br />insurance. Beneficiary shall have the right to hold the policxes and renewals. Tf $eneficiary requires, Trustor shall
<br />immediately �ive to Beneficiary all receipts of paid premiums and renewal notices. Upon lass, 'I"rustor shall give
<br />immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss xf not made immediately by
<br />Trustor.
<br />Unless otherwise agreed in writing, all insurance proceeds sha11 be applied to the restoration or repair of the Praperty or to
<br />the 5ecured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal, shall not
<br />extend or postpane the due date of the scheduled payment nor change the am�ount of any payment. Any excess will be paid
<br />to the Trustor. If the Praperty is acquixed by Beneficiary, Trustor's ri ht to any insurance policies and roceeds resuiting
<br />frorn damage to the Property before the acquisition shall pass to Bene�ciary to the extent of the Secured �ebt immediately
<br />before the acquisition. � �pa9e 2 a�
<br />�"' � 1994 8ankers Systems, Inc., St. Cloud, MN Fo�m pCP-REDT-NE 1/31l2003
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