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<br /> � B.All futuYe advnnces from �eneficiary to Trustor or od�er future o41ig3tlons of Tnistor io Benetic ory under nny
<br /> � ptomiss�ry note, contruct,gueranty, or othe�evldence of debt executed by Trustor in f3vor of Bene�ciary exrcuted .
<br /> � aftes�this Security Instrument whether or not this Security Instrument is epecifically r�eferenced. If more ehan one
<br /> � person slgns this Securlty.Instrument, each Truator agrees that this Security Instnirnent will secure al! future
<br /> ' advances and future obliganons that arc given to or incurred by any one or more Trustor�or any onc or muce T�ustor
<br /> � and others. All future advances and other future obllgadons are securc�i by this Serurity Instrument even.ti►ough nll �° .. .
<br /> � ' or pan may no ty e t b e a d v a n c e�. A l l f u t u r e a d v n n c e s :m d o i l i e r future obli�ations are sr�cured ns if mndr,on the date _
<br />� ; of fhis Security Instrument. Nothing in this Securiry Instnunent shall constitute a com�nitment to ni f+ke a d dit ion a l or ��
<br /> � I future loans or advances in any amount.Any such cu�nmitment must be a reed to in n separate writing. . n�_ .
<br /> C�but nolt�limited os�liab I ties fornoverdrafts re atin�tot aay dep si�account agrePementl between�Trustordi�� •�
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<br /> BeneCciary.
<br /> D.All additional sums advanced ansl expeuses incuned by Beneficiary for insuring, preserving or othenwise protecting � _
<br /> the Property and its value aud any other sums advAUCed a�id expenses incuned by Beae�ciary under the tern�s of this _ _---
<br /> � Securiry Instsument. _ -
<br /> This Securiry Instrument will not secure any other debt if Heneficiary fails to give any required notice of the right of '��
<br /> , rescissioin. -
<br /> 5. PAYMENT�.Trustor agrces that all payments under the Secured Debt will be paid when dae and in accordance with the
<br /> tem�s of tl�e Secured Debt aud this Secunty Instrument. ° _
<br /> ' 6. WARgt,�NTY OF 'Y'YTLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br /> . � s�a e n'Ihis or also war�ian s�that thehPraperty Is�unen cumhered,e;cept for encnmbrapnceys of r�rd, ' �trust. wuh power of
<br /> ,� 7. FItIOR SECiJRiTl' 1N'II'CRGS'I'S. With regard to any other zrort a;e, desd of uust, securiry agreemenc or other lien
<br /> . � document that created a prlor security interest or encumbrance on th��opertY.Trustor agrees: , . -
<br /> ��•".- , ;�� r�f A.To make all payments�vhen due and to perform or comply��ith all covennnu. �:,•�; • �
<br /> -�.,; ., ,�:.:;;iy a.To prompdy deliver to Beneficiary any notices that Trustor receives from the holder. . ��;—
<br /> ,, .�' , C.Not to allow any modificxtion or extension of, nor to request any future advances under any note or agreement �� ' ;�:.
<br /> ' '"�' r f �: secwed by the lien document without Beneficiary's prior wntten consent. �� �,;;��,,,,�-
<br /> �;�:::.-�.,:;�,�Y�z ' , . . ,, �,�:
<br /> �``��'• �.����`6l�"�� S. CLAIMS AGAIIVST T'ITLE.Trustor will ay all caxea,assessrnents,liens, encumbrances, lease payments.ground rents, ;.::.�.�� ��_
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<br /> , utilities, and other charges relating to the perty when due. Beneficiury may rec�uire Trustor to provide to Beneficisry •.�:��; ,�.�
<br /> t copies of all nodces that such amounts are due and the rec�ipts evidencing Trustor s payment.Trustor will deFend title to �„F :�-.
<br /> . i ,.• �.� iuc Fiv'- i� a dTa"ai :3S" �:2�lSY'-°. �hot wtntltl imnAif thC lier. Of 11115 Security Instrument. Trustor agrees to assign i0 ';�^l �,.d��'
<br /> ' `" '°�° Benefic�aryras iequeste�by Benefciary, any rights,claims or defenses T*ustor may qave agains�parii�wLu suN�,.y inhar ;,„,��,�;Q�
<br /> � or tnarerx"als to ma�ntain or improve the Property.
<br /> ' ' 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary!may,at its option,declare the entire�alance of the Secured Debt to
<br /> ' be immedistely due and payable upon the creation ot.or coatract for the creation of any lien,encumbrance, cransfer or
<br /> �' This ri t Is sub ect to the restrictions lmgosed.by federal law(12 C.F.R, 591), as applicable. Thie
<br /> sale of the Property. 1
<br /> • ;�' covenent shall nut with the�roperty �nd shall remain in effect unW the Secured Debt is paid in full nnd this Security _
<br /> b Instrument is releaseti.
<br /> � 10. PROPERTY CONDITION, ALTERATIONS AND INSPEC7'ION. Trustor will keep the Property in,�ood cnndition
<br /> p and make all repairs thnt are reasonabiy necessary. Trusror shall not cominit or allow eny waste. impairment, or
<br /> deterioration of tlie Property.Trusror will keep the Properry frce af noxious wceds and geasses. Truetor agrees that the ------
<br /> nature of thc occupancy and use will not substantinlly changc without Beneficiary's prior wrinen consent. Tnieror wiA aot ,__
<br /> pem�t any ehange in any licease,mstrictive covenant or easement without Beneficiary's prior wri.tten consent.Tcustor will _.a��
<br /> ���neficiary of all demands, proceedlugs, claims, and acttons against Trustor, and of any loss or dnmage to We �
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<br /> Beneficiary or Beneficiary's agents may, at Beneficlary s option,.enter the Property at any reas�nable time for the purpose �t_:__�--.
<br /> of inspecting the Property. Beneficiary shall give Trustor nouce at �he time of or before an in tion speci{y ing a �
<br /> '�! ' �� reasonable putpose for the inspection. Any inspection of the Property sY�all be entirely for Bene�ciary's benefit tutd :_��;`�v_
<br /> 1'nutor will ia no way rely on Seneficiury's mspection. i'`�v
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<br /> il. AUTHOItITY TO PERPORM. If Trustor fails to perform any duty or any of the covenanta contained in this Securlty �
<br /> Instrument� � .--' —
<br /> ;;,�:(, Beneficinry may, without notice, perform or cause them to be performr,d,Truuor a�points Beneficiary as ,::,----.
<br /> attorney in fact to ei�n Trustor's name or pay any amount necessary fox performance• Beneficlary s right to perfo�for ,���,;:_
<br /> �;. �". • Trustor shall aot create an obligation to perform,and Beneficiary's failure to perform will not preclude Beneficiary from ..+ ��:.+��{.�..,:..�
<br /> exercising any of Beneficiary's other ri5hts under the law or tbis Security Instnunent. If any consuuction on the Property �;�'�..�.,.�._
<br /> ,� is discontinued or not carried on in a reasonable marmer, Beneficiary may take all steps necessary to protect Beneficiary's �i4:a� ` � =t�,.
<br /> • interest in the Pro , including completion of the construction. ��'��.V�i�•�� ,, ._
<br /> secutiry PertY -��r;-'�'?«r �r?fii..
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<br /> � '-� 12. ASSIGNIV�NT OF LEASES AI�'D RENTS. Trustor irre�ocably grants, conveys and sells to Trustee, in trust for die ;: ._;�• :;, .c�u.�•�
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<br /> �,;:_���,. benefit of Beneticiary, as additional securiry all the right. dtle and interest in nnd to any and all existin�or fuarre leases. :, ,�;et.:��
<br /> subleases,and any other written or verbal agreements for We use and occupancy of ar►y portion of the Property, including ;:;;�t��i'�'_,;'
<br /> �' "' auy extensions, renewals, modificadons or substitutions of such agr�menu (all referred to as"Leases") and rents, issues ,
<br /> and proFts (all cefened to as "Rents"). Trustor will promptly provtde Beneficiary with true and conect copies of all
<br /> . exisung and future Leases.Trustor may collect,rcxeive, enjoy und use the Rents so long as Trustor is not in default under . . ;,
<br /> the terms of tlris Security Instrument. •
<br /> Trustor acknowledges that this assignment is perfected upon the recording of this Deed ogTrust and that Beneficiary is ., .
<br /> entided to notify any of Trustor's tenants to make payment of Rents due or to bocome due to Beneficiary. However,
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<br /> ' Beneficiary agrees that only on default will Beneficiuy uotlfy Trusmr and Trustor's tenants and make demand that all ,
<br /> ' � future Rents be paid directly to Beneflciary:On receiving notice of default,Trustor will endorse and dcliver to Benefici�ry „ ,
<br />' _ -.. __-- anv navment ofRents in Trustor's possession and will receive any Rents in t�ust for Beneficiazy and will not commin�le '
<br /> _ _ ... . . . -- ---°:�_a :...wa..ce.....:�.. rnorrumonr 'I'nretnr _...r ..-----,..
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<br /> the f�enta with any atl�er funds. Any amounts coitec�ea v�nu oe app,�cu a� ����ju�... .�u.,.o,,,,..�..., .....--...._--.. ..--.-- -- _ __-_
<br /> warrants that no default exists under the Leases or any applicable lu►dlord/tenant la�v. Trustor also agrees to mamtuin and ,
<br /> ��_;: require any tenant to comply with die terms of the Leases and applicablc law. �
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<br /> � 13. L�ASEHOLDS; CONDOMINNMS; PLANNED iJ1�TIT DEVFLOPMLNTS. Trustor agrees to comply with the
<br /> provisioas of any lease if tF,is 5ecurity Instrument is on a lcasel�old.;lf the Pmperty includ�s a umt m a condotrunium or a •
<br />" ',`�'.',,��: plumeai unit development,Trustor w�ll perform all of Trustor's dudes under the covenants,by-laws, or resulations of the I , ;i"�:•
<br /> , i condommium or planned unit development. ,
<br /> ���!'� . fPa9e 2 of 4)
<br />;:,;` p199A doNen Sya�ema.Int..St-Cloud.MN 11•800397•23411 FcrmRE-OTNE 9l1�196 . '
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