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201103��5
<br />B. All future advances ftom Bene�ciary to Trustor or other future obligations of Trustor to Bene�ciary 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 Security Instrument, each Trustor ag rees that this Security Instrument 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 advances and other future obligations are secured by this Security Instrument even though a11 or part may not
<br />yet be advanced. All future advances and other future obligations aze secured as if made on the c3ate of this Security
<br />Instrument. IVothing in this Security Instrument shall constitute a commitment 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: AII other obligations . Trustor owes to Benefzciary, which may later arise, to the extent not prohibited by law,
<br />including, but not limated to, liabilities for overdrafts relating to any deposit account agreement between Trustor and
<br />Beneficiary.
<br />D. AII additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br />Security Instrument.
<br />In the event that Beneficiary fails to provide any necessary notice of the right of rescission with respect to additional
<br />indebtedness secured under paragraph B of thts Section, Bene�ciary waives any subsequent security interest in the
<br />Trustor's principal dwelling that is created by this Security Instrument (but does not waive the security mterest for the
<br />debts referenced in paragraph A of this Section).
<br />5. D�ED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the
<br />Secured Debt and this Security Instrument. If 'I'rustor breaches any covenant in this section, Beneficiary may refuse to
<br />make additional extensions of credit and reduce the credit limit. By not exercisin� either remedy on Trustor's breach,
<br />Bene�ciary does not waive Bene�ciary's right to later consider the event a breach if rt happens again.
<br />Payments. Trustor agrees that aII 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.
<br />Prior S�urity 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 wrth a11 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 wr�tten
<br />approval.
<br />Claims Against Title. Trustor will pay all ta�ees (including any tax assessed to this Deed of Trust), assessments, liens,
<br />encumbrances, lease payments, ground rents, utilities, and other chazges relating to the Property when due. Beneficiary
<br />may rec�uire Trustor to provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing
<br />Trustor s payment. Tr�stor will defend title to the Property against any clauns that would impair the lien of this Security
<br />Instrument. Trustor a�grees to assign to Bene�'iciary, , as requested by . Beneficiary, any rights, claims or defenses Trustor
<br />may have against parties who supply labor or matenals to maintain or unprove the Property.
<br />Property Condition, Alterations and Inspection. Trustor will keep the Pro�erty in good condition and make all repairs
<br />that are reasonably necessary. Trustor shall not commit or allow any waste, unpaitment, 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 alI demands, proceedings, claims, and actions against Trustor, and of
<br />any l,oss or damage to the Prop�rty.
<br />Beneficiary or Bene�ciary's ag ents may, at Beneficiary's option, enter the Property at any reasonable time for the �urpose
<br />of inspecting the Property. Bene�ciary 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 bene�it and
<br />Trustor will in no way rely on Bene�ciary's inspection.
<br />Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument,
<br />Beneficiary ma�, without notice, perform or cause them to be performed. Trustor ap�oints Bene�ciary as attorney in fact
<br />to sign Trustor s name or pay any amount necessary for petformance. Beneficiary's nght to erform for Trustor shall not
<br />create an obligation to perform, and Beneficiary's failure to perform will not preclude Bene�ciary from exercising any of
<br />Bene�ciary's other rights under the law or this Security Instrument.
<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 wut in a condominium or a planned unit developmettt,
<br />Trustor wi11 perform al.l of Trustor's duties under the covenants, by-laws, or regulations of the condominium 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 al of the Property through condemnation, eminent domain, or any other means. 'I`irustor
<br />authorizes Beneficiary to intervene m Trustor's name in any of the above described actions or claims. Trustor assigns to
<br />Bene�ciary 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,
<br />Insurance. Trustor shall keep Property insured against loss by flood theft and other hazazds and risks reasonably
<br />associated with the Property to rts type and location. This msurance s�all be maintained in the amounts and for the
<br />periods that Beneficiary requires. �Vhat Bene�ciary requires pursuant to the precedittg two sentences can change during the
<br />term of the loan. The insurance carrier providing the insurance shall 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 />Secunty 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 notify Beneficiary of cancellation or tertnination of the
<br />insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
<br />immediately �ive to Bene�ciary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br />immediate nohce to the insurance carrier and Beneficiary. Bene£'iciary may make proof of loss if not made imnnediately by
<br />Trustor.
<br />Unless otherwise agreed in writing, a11 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 sha11 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 Beneficiary, Trustor's ri ht to any insurance policies and proceeds resulting
<br />from damage to the Property before the acquisition sha11 pass to Bene�ciary to the extent of the Secured Debt immediately
<br />before the acquisihon. �,�L_
<br />fpag�,2jof 4J
<br />� a-
<br />F� 72 02`� OO 1994 Bankers Systems, Inc., St. Cloud, MN Farm OCP-REDT-NE i/31/2003
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