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<br /> B.All futurc advm�ces from Beneticiory to Trusror or ottier future obligatione of 'Trustor to &mef3r.inry undcr Any � �"
<br /> promissory note,conttact,guarnnty,or other evidence of debt�xecuted by Trustor in favor of Bene�ciary executed ,
<br /> nfter thie Se�urtty Instnunent wheth�r or not this Secueity lnstnimant is sp�*cificaJly referenced. If more than one _
<br /> person signs ehis Security Instrument, ench Trustor agrees [hnt thig Security Insttvment will secur� all future . _
<br /> advances and future obligations that nre given to or incurre�by uny one or more Truntor,or nny one or�orc Trustor
<br /> und others. All future advances nnd othsr future abllgations ere secured by this 3ecurity Inatrument even tuough all . _
<br /> � or part may not yet be edvert�ed. All future advences�nd other future obligatIons fue secured as if mnde on the dnte .
<br /> - of this Security lnstrument• INothing ia thia Securlty Insnumeat sh a l l canstttute a commitment tu�tmlce udditional or
<br /> � future loane or advances in any nmount. Any such commitment must be agreed ro in a separata vrritenQ. .
<br /> � C but not�limite�os�Ilabil ties fBornaverd its hrelat n�tot any�deposithaccount agre memltbetvi cen Trustordinnd � ''
<br /> ' Heneficiary. �'
<br /> D.All add'stional s��n� advunced and expenses incurred by Beneficiary for insuring,prese�ving or otI�erwise protecting ,:,� .: �,
<br /> the Property aud its value and uny other sums advanced aad expenses incuneQ by Btneficinry und�:r the ternti:of this ;,��:��,. . -
<br /> Security Instrument. ,� �
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<br /> 'Ihis Security Insuument will not secure wy other debt if Beueficiary fails to give anl c�quiMd natice of the right of .:''., ,:,�;.�; ••:
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<br /> • rescission. •;�,�� , .:�`.—--
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<br /> 5. PAYMENTS.Trustor agrees that all payraents under the SecumRi Debt will be paid when dua and in accardnnce with thc .l',. ;,.:.,;. .•4�,—._._
<br /> terms of the Secured Debt and t�is Security Instrument. • ' ''�"'�`"�'
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<br /> 6, Vy,�l�tANTY! OF TI1'LE. Trustor wnrrants that Trusror is or will be lawfully seized of the estate conveyed by this ,�:°�,;,,_ ,,.
<br /> 5ecnrity Insuument and has the right to inevocably grant,comcy,and sell the Feopeiry to Traetas, in trust,with��ver of ��•'-'"'�:��' --___-_, _ ___
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<br /> � sale.Trustor also warrants tbat the Property is unencumberecl,except for encumUranr.es of ir�co�. , ,�,���:=
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<br /> 7, PRIOYt SECiJItITY IIV'TERE51'S•With regud to any other mortgage, decYS of trust, security ugreement or other lien � ��,,;.,,: �}'�ti. _.
<br /> ' document that created a prior security interest or encumbrance on the Property,Trustar agrees: �;,:�i;�,..�,,,: iN;��.
<br /> A.To make alt payments whea due and to perform or comply with all covenanta. i A�A, �;
<br /> � B.To prompdy deliver to Bene�iciary any notices that Trustor receives from the holder. , , `
<br /> C.Not t o a l l o w a ny m o dificntion or extension of.�nor to request any future advnnces undar any note or agreement „ , , ,,����
<br /> _ ,� secuied by the lien dacument without Beneficiary s prior written coasent. „��;;..-:s,;:.�"�
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<br /> ° � 8. CLAIIVIS AGAINST TITLE.Trusror will pay all texes,assessmeats,ltaus,t�ncumbrances,laase payments, ground rents, .''�,i;;��:`.
<br /> . utilittes, and other charges relating to the Property whea due. Beneficiary may rc4uire Trustor to provide to Beneficiary �'�',1��,� • `
<br /> . � copies of all nadces that such aznounts are d�ue and the receipts eviden�ing'Mistor s puyment. Trustor will defend title to �^"
<br /> the Property a�ainst any claims that would impair the lien of this SLecurity Inettvmpnt. Truetof��afii��unnlvlabor _�....��
<br /> - �-_-= Benefici .as reyues�ed oy iseaenciary�any ri�;his,�iai,,,� �rd::f���� ..-usso::n..} ha:..agein-•fia.--- •• - -
<br /> � or matcrl�s to mauitain or improve Qte Properry. � , ' ' ,
<br /> � 4. DiJ�ON SAL�f�1R ENC[J1VIDItANCE.Beneficiary may. at its o tion,decluro the entire balance of the S:xured Debi to ,� �
<br /> � be inunediately due aad payable upon the creadon of. or coatract�or the creauon of, cu►y lien, encumbrance,tranafer or �;�
<br /> ` " .�;:,;����„ sate of the Property.This d�ht is subject to the restrictions imposed by federal law (12 C.F.R. 591), ae applicable. This
<br /> ��',��•'� covenant shall run with the�roperty and shall remain in effect until the Secured Debt ie pa#.d in full wd this 5ecurlty
<br /> ' ,. �''.�';; Instrument is released. .
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<br /> � 10. PROPERTY CONDI'�[ON, ALTERATTOPi3 AND INSPTCTION. Trustor will keep the Pr�npeny in,�ood condition
<br /> �• and malce all repairs that are reasonabiy necessary. Trusror sdall aot commit or allow auy waste, �mpaimient, or
<br /> ,:;�>; deteriaration of the Property. Trustor will keep the Properry frce of noxfous wcede and grasses. Trustor agrees that the �
<br /> . �'•�:;sl�• nature of the occupaacy and u�e will not substautially chan�e without Beneficituy s prlor wcitten consent.Trustor will not --
<br /> ���''' `��,,<<�;" " permit any change m any license. rescrlctive covenant or easement withaut HenQticiury's pt�or written consent.Tcusror wiU `�"
<br /> - �•�',.� noufy Beueficiary of all deu�ands,proceedings, claims, and actions zgtuntt 'IYustor, and of any loss or dawage to th�e r��
<br /> , �. Property. �`—�
<br /> �� � .� � Beneficiary or Beneficiary's a eats may,at Beneficlary's opdoa.entor thc Propeny at any reasonabl�time for the purpose r�'• _
<br /> `.�"^, of inspecung the Pmperty. �eneficiary shall sive Trustor notice at tha time of or before an inspection speci{y ing a __ .�---
<br /> ������ reasonable purpose for the tion. Any inspection of the Property shall be entirely for Beneficiary's benefit and =,_
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<br /> ��,•;:.;;. . Tiustot will in nu way rely on eneficiary s�nspection. r�...W___.
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<br /> � � 11. AUTHORITY T,O PERFY)RM. If Trustor fails to p�.rform any duty or any of the covena�ita contained in this Security --_------
<br /> Instnunent, Beneficiary may, witho�nt notice, perform or cause them to be perfotmod. Trustor s��points Beneficiary ns ----
<br />-=- " attorney in fact to sign'Trustor's name or pay any amount necessary for performuices.Benuficiury s right toperform for -_—�_______
<br /> • �;.;:: Tnistor shall not cmate an obl�gation to perfarm, and Beneficiary's failure tn pedorm will not preclude Bcneflciary from �__
<br />- ,:., ' exerclsin�any of Beneficiary's other rights under the law or this Security Instnuneut. If any constcuction on the Propert�y .,.�� „t,:�.�a,�.�,.
<br /> � �' is disconunued ur not carried oa in a reasonable manner,Beaefciary mny tako all stc�ps necessary to protect Beneficiuy s •.,r. , ,��
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<br /> _ • � }" � security inrtenst in the Property, including completton of the constmction. -
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<br /> . 1�. ASSIGNMEN7' OF LEASES AND RENI'S. Trnstor inevocably grants, conveys and selln to Trustee, in trust for the '�:-`•1-�y. �-.�L, �, •�
<br /> i all thc ri t tltle aud interest in and w any and�ll existing or fumre leases, ' ''f��.,.'.�.�L
<br /> '.�:�;,; • benefit of Beneficiary, as additional secw ty gh�
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<br /> - subleases,and any other written or verbal a�reements for the ase and occupancy of any portion of the Properry, including ' " t�.... _
<br /> • ° ' nay extensions,renewals,modlfications or substitutions of such agreements(all roforre@ ta as "I..eases")and renus, issues �,':• ;��`.���"v..; : •
<br /> and prafits (all refem�i to as "Rents"). Trustor will prornptly provide Beneficiar w�th true and conect wpaes of all �'•;:r
<br /> ., existing and fiuune Ixases.Tivstor may collect, receive,enjoy and use the Rents so�nng as Trustor is nat in default under
<br /> ' the tezms of thls SECUrity insuument. • •� •
<br /> Trustor acImowledges that thia assignmeat is perfected upoa the recording of this Deed of Tnist and that Beneflciary is �
<br /> eutidai to notify any of Trustor's tenants to make payment of Rents due or to bt�om$due to Beneficiuy. �IoNever,
<br /> BeneRciary agrees that only on default will Beneficiury notify Trustor a��d Trustor's tenanto and make demflnd that all
<br />- , ; futtu+e RentE be pa.id direcdy to Beneficiary: On receiving notice of default,Trustor will endorcc and de;l[ver to Beneficiary .
<br /> � any aynxnt ofRents�in�rus�ror'e pos�s�s�oncand�w 1�rwu he�n I�eQsas nrovided in th scS�i►nty Insltru�men T�rusgor �
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<br /> -- — u�c a�cuw AItR w.� ........ .......... .._� -----� --•------ _..,
<br /> _ � warcants that no default eusts under the Leases or any a}�plicable fandlord/tcnazu law.Trustor alr,o ugeees to mauitain and - -
<br /> , � require any tenant to comply with the terms of the Leases and applicable law.
<br /> • � 13. LEASEH�LDS; CONDOMINIUMS; PLAI�TN�� UNTf DEVELOPMCNTS. Trustor agtccs, to c;omply with the
<br /> "I provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condomuiium or a
<br /> ! planned unit development,Trustor will pedorm all of Trusror's duties under thc covenants,b}�•luu�s, or rsgulations of the
<br /> � i candommium ar planned unit devclopment.
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<br /> 01994 BMkure Svetcros.1a.5� Cicvd.MN 11�800-39743411 Fnrm NEDT•NE 9/1790
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