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�01104549
<br />B. All future advances from Beneficiary 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 agrees that this Security Instrument wi11 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 Instrunnent even though all or part may not
<br />yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security
<br />Instrument. Nothing 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. 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 additionai sums advanced and expenses incurred by Bene�ciary 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 Bene�ciary fails to provide any necessary notice of the right of rescission with respect to any additional
<br />indebtedness secured under paragraph B of this 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 interest 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 'frustor breaches any covenant in this section, Beneficiary may refuse to
<br />make additional extensions of credit and reduce the credit Iimit. By not exercisin�g either remedy on Trustor's breach,
<br />Beneficiary does not waive Bene�ciary's right to later consider the event a breach if it happens again.
<br />Payments. Trustor agrees that aIl payments under the Secured Debt will be paid when due aud in accordance with the
<br />terms of the Secured Debt and this Security 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 ittterest or encumbrance on the Property, Trustor agrees to make a11 payments when due and to
<br />perform or comply wrth 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 dbcument without Bene�ciary's prior wntten
<br />approval.
<br />Claims Against Title. Trustor will pay all taJCes (including any tax assessed to this Deed of Trust), assessments, liens,
<br />encumbrances, lease payments, ground rents, utilities, and other chazges relating to the Properly when due. Beneficiary
<br />may rec�uire Trustor to provide to Beneficiary copies of all notices that such amounts aze due and the receipts evidencing
<br />Trustor s payment. Trustor will defend title to the Property against any claims that would 'unpair the lien of this Security
<br />Instrumettt. Trustor a�rees to assign to Beneficiary, as requested by . Beneficiary, any rights, claims or defenses Trustor
<br />may have against parties who supply labor or matenals to maintain or improve the Property.
<br />Property Condition, Alterations and Inspection. Trustor will keep the Pro�erty in good condition and make a11 repairs
<br />that are reasonably necessary. Trustor shall not comznit or allow any waste, unpairment,, 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��ge 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 />ariy loss or darxiage to the Property. ,
<br />Beneficiary or Bene�ciary's agents may, at Beneficiary 's option, enter the Property at any reasonable time for the ,purpose
<br />of inspecting the Property. Bene�ciary sha11 give Trustor notice at the time of or before an inspection speci�ying a
<br />reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's 6ene�'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 attomey in fact
<br />to sign Trustor s name or pay any axnount necessary for performance. Beneficiary's nght to erform for 'Trustor shall not
<br />create an obligation to per�orzn, 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 D�veiopments. 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 unit in a condommium 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 p7anned
<br />unit development.
<br />Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatetted action, by private or public
<br />entities to urchase or take any or a1I of the Property through condernnation, eminent domain, or any other means. T`rustor
<br />authorizes �ene�ciary to intervene in Trustor's name in any of the above described actions or claims. Trustor assigns to
<br />Beneficiaty 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 agraement or
<br />other lien document.
<br />Insarance. Trustor sha11 keep Property insured against loss by fire, flood theft and other hazards and risks reasonably
<br />associated with the Property to its type acYd location. This insurance s�,all be maintained in the atnounts and for the
<br />periods that Beneficiary requi�'es. What Beneficiary requires pursuaut to the preceding tuvo -sentence� ca�, change during the
<br />term of the loan. The insurance carrier providmg the insurance sha11 be chosen by Trustor subject to Beneficiary's
<br />approval, which sha11 not be unreasonably withheld. If Trustor fails to maintain the coverage described above, Beneficiary
<br />may, at Bene�ciary's option, obtain coverage to protect Bene�ciary's rights in the Property according to the terms of this
<br />5ecurity Instrument.
<br />All insurance policies and renewals shall be acceptable to Bene�ciary and shall include a standard "rnortgage clause" and,
<br />where applicable, "loss payee clause." Trustor shall immediately notzfy Beaeficiary of cancellation or termination of the
<br />insurance. Beneficiary shall have the right to hold the policies and renewals. If Bene�ciary requires, Trustor shall
<br />immediately �ive to Beneficiary all . receipts of paid prerniums and renewal notices. Upon loss, Trustor shall give
<br />immediate notice to the insurance carner and Beneficiary. Beneficiary may make proof of loss if not made immediately by
<br />Trustor.
<br />Uriless 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. Atty application of proceeds to principal shall not
<br />extend or postpone the due date of the scheduled payme�t nor change the amount of any payment. Any excess will be paid
<br />to the Trustor. If the Property is acquired by Beneficiary, Trustar's ri� ght to any insurance poIic�es and proeeeds resutting
<br />from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately
<br />before the acquisition. �
<br />Jpage 2 of 41
<br />EiC� OO 1994 Bankers Systems, fnc., St. Cloud, MN Form OCP-REDT-NE 1/31/2003
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