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201105879
<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />romissory note, contract, guaranty, or other evidence bf debt executed 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 Instrument, each Trustor agrees 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 all or part may not
<br />yet be advanced. All future advances and other futl}r� `obhgations are secured as if made on the date of this Security
<br />Instrument. Nothing in this Security Instrument ,sfia17: eonstitute a commitment to make additional or future loans or
<br />advances in any amount. Any sucY� commitment zi�us j be agx�ed to in a separate writing.
<br />C. All other obligations . Trustor owes . to Beneficiat�, whieh � may later arise, to the extent not prohibited by law,
<br />including, but not limited to, liabilities for overd'ra�'ts zelati�,g'to any deposit account agreement between Trustor and
<br />Beneficiary.
<br />D. All 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 incuned 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 this Section, Beneficiary waives any subsequent security interest in the
<br />Trustor's principal dwelling that is created by Chis Secur�ty Instrument (but does not waive the security mterest for the
<br />debts referenced m paragraph A of this Section). ,
<br />5. DEED OF TRUST COVENANT5. Trustor agrees that the'covenants in this section are material obligations under the
<br />Secured Debt and this Security Instrument. If Trustor breache's any covenant in this section, Beneficiary may refuse to
<br />make additional extensions of credrt and reduce the credit limit. By not exercisin� 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 a11 payments under the Secured Debt will be paid when due and in accordance with the
<br />terms of the Secured Debt and this Secunty 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 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 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 wntten
<br />approval. `
<br />Claims Against Title. Trustor will pay all taxes (including any ta� assessed to this Deed of Trust), assessments, liens,
<br />encumbrances, lease payments, ground rents, utilities, oCher charges relating to the Property when due. Bene�iciary
<br />may rec�uire Trustor to provide to Beneficiary copies of� notices that such amounts are due and the receipts evidencmg
<br />Trustor s payment. Trustor will defend title to the Pro�i�� zgauxst any claims that would impair the lien of this Security
<br />Instrument. Trustor a,grees to assign to Beneficiary, ,.as ;�'�u�st,etl ;by ,Beneficiary, any rights, clauns or defenses Trustor
<br />may have against parties who supply labor or matenals to mauYtaul'or improve the Properly.
<br />Property Condition, Alterations and Ins�ction. Trustor will keep the Property in good condition and make all repairs
<br />that are reasonably necessary. Trustor sha11 not commit 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 chazge m any license, restrictive covenant or easement without Bene�ciary'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. ,
<br />;5 ".
<br />Bene�ciary or Beneficiary's agents may, at Beneficiary's option; enter the Property at any reasonable time for the �urpose
<br />of inspectmg the Property. . Bene�ciary shall give Trustor notice at the time of or before an inspection speci�y ing a
<br />reasonable purpose for the mspection. Any uispection of, the,,Properly sha11 be entirely for Beneficiary's benefit and
<br />Trustor wilI in no way rely on Beneficiary's mspection.
<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 apQoints 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 sha11 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.
<br />Leaseholds; Condominiums; Plann� Unit Developments. Trustor agrees to comply the provisions of any lease if
<br />this Security Instrument is on a leasehold. If the Property includes a umt m a condommrum or a planned unit development,
<br />Trustor will perform all of Trustor's duties under the cove�t�ants, by-laws, or regulations of the condominium or planned
<br />unit development.
<br />Condemnation. Trustor will give Beneficiary prompt .npt�ce of any pending or threatened action, by private or� public
<br />entities to purchase or take any or all of the Property throu,�h•condemnation, eminent domain, or any other means. Trustor
<br />authorizes Beneficiary to intervene m Trustor's name a��,���,of:tt�e:�above described actions or claims. Trustor assigns to
<br />Beneficiary the proceeds of any award or claim for d�ainagas, cqunected with a condemnation or other taking of all or any
<br />part of the Property. Such proceeds shall be consiFiere�l payzri�nts 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,fire, flood, theft and other hazards and risks reasonably
<br />associated with the Property to its type and location. This� uisurance sha11 be maintained in the amounts and for the
<br />periods that Beneficiary requues. What Beneficiary requires pursuant to the preceding two sentences can change during the
<br />term of the loan. The insurance cazrier providing 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, Beneficiat�
<br />may, at Beneficiary's option, obtain coverage to protect Be$eficiary's rights in the Property according to the terms of ttus
<br />Secunty Instrument. `'a �
<br />All insurance policies and renewals sha11 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 termination of the
<br />insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor sha11
<br />immediately �ive to Beneficiary a11 receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br />immediate notice to the insurance camer and Beneficiary. Beneficiary may make proof of loss if not made immed.iately by
<br />Trustor.
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to
<br />the 5ecured 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, Trastor's right to any insurance policies and proceeds resulting
<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. '�-''�: �,' ✓ raey f 4�
<br />tt; :. �
<br />��"" OO 1994 Bankers Systems, Inc., St. Claud, MN Form OCP-REDT-NE�i1/�'t/2003
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