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<br />B. All future advances from Heneficiary to Trustor or other future obligations of Trustor to }3eneficiary uiider any
<br />promissory note, contraet, guaranty, or other evidence of dsbt executed by Trustor in favor of Beneticiary executecl
<br />after this Se�urity Instrument whecher or not this Security Insfrument is specifically referenced. �f more than one
<br />person signs khis Security Instrument, each Trustor agrees that this Security Jnstrument will secure all future advances
<br />and �uture obligations that are given to or incurred by any one or more Trustor, or any one or m�re Trustor and
<br />others. All future advances and other future obligations are secured by this Secority Instrument even though all or
<br />part may not yet be advanced. All future advances and ather future obligations are secured as if made on the date of
<br />this Security Instrument. Nothing in this Security Instrument shall canst�tute a commitment ta make additional or
<br />future loans ar advances in any amaant. Any such commitment must be agreed to in a separate writing.
<br />C. Ail obligations Trustor owes ta Beneficiary, which may later azise, to the extent nut prohibited by faw, including, but
<br />not limited to, liabilities for o��erdrafts relating to any depqsit account agreement between 'i'rustor and Beneficiary.
<br />D. All additionai sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecttng
<br />the Property and its value and any other surns advanced and expenses incurred b}� Beneficiary under the terms af this
<br />Security Instrurnent.
<br />This Security Instrument wilI not secure any other debt if Beneficiary fails to give any required notice of che right of
<br />xescission.
<br />5. PAYI�IEN1'S. Trustor agrees thac all pa�ments under the Secured Debt will be paid when due and in accordance with €he
<br />terms of the Secured Dcbt and this Security Instrument.
<br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or wili be iawfully seized of che estate c:c�nveyed by this
<br />Security Instrument ar►ci has che right ta irrevacably grant, convey, and sell the Property to Trustee, in krust, wilh power af
<br />saie. Trustor also warrants that the Propercy is unencumbered, except far encumbrances af record.
<br />7. PRIUR SECURTTY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other Iien
<br />document that created a prior security interest or encumbrance on the Property, TrusCor agrees:
<br />A. To make a1l payments when due and io perform or comply with all covenants.
<br />B. Ta promptly deliver to Beneficiary any noticas that Trustor receives from the halder.
<br />C. Not to a71ow any modification or extension of, nor to request any future advances under any notc; or agreement
<br />seeored hy 4he lien document withoui Beneficiary's priar written consent.
<br />$. CLAIMS AGAINST TITLE. Trustor will pay all ¢axes, assessments, liens, encumbrances, lease paymencs, bround rents,
<br />utiiities, and other charges relating to ihe Property when due. Beneficiary may require Trustor ta pravide to Iiene�ciary
<br />copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend titte to
<br />the Pro�erty against any claims that would impair the lien of this Security Instrument. 'I'rustor agrees to assign to
<br />Benefictary, as requested b� Beneficiary, any rights, ciaims or defenses Trustor may have against parties wha supply tabor
<br />or materials to maintain or amprove the Property.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Sec;ured Debt to
<br />be imroediately due and payable upon the creation of, or contract for the creatian of, any lien, encumbrance, trinsfer or sale
<br />af the Praperty. This right is sub�ect to the restrictions im�osed by federal law (12 C.F.R. 591), as applicable. This
<br />covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Sec:urity
<br />Instrument is released.
<br />10. PROPERTY CONDITION, ALTERATIDNS AND INSPECTION. Trustar will keep the Property in good condition and
<br />make all repairs that are reasonably necessary. Trustor shall nol commit or allaw any waste, impairment, or deteriorati�n ok'
<br />the Property. Trustor will keep the Property £ree of noxious weeds and grasses. Trustor agrees that the naturc o!' the
<br />occupaney and use will nat substantially change wiehout Beneficiary's rior written consent. Trustar will not permit any
<br />change in any license, restrictive covenant or easement without Bene�ciary's prior writte� consent. Trustor w�ll notify
<br />�neficiary of all demands, proc�edings, claims, and actions against Trustor, and aC any loss or damage to the Property.
<br />Beneficiary or Beneficiary's agents may, ac Beneficiary's option, enter the Property al any reasanabie time lar the purpose
<br />of inspecting the Property. Bene�ciary shall give Trustor notice at the time ot or before an inspe:ction specity��n� a
<br />reasonable purpose for the inspection. Any inspeccion of the Property shall be entirely for Beneficiary's benefit aad Trustor
<br />will in no way rely on Beneficiary's inspece�on.
<br />11. AUTHURTi'Y TO PERk'OCtM. If Trusior fails to perform any duty or any of the covenants wntaineci in this Security
<br />Tnstrument, Beneficiary may, without notice, perfarm or cause them to be performed. TrusCOr a�points 13eneticiary as
<br />attorney in fact to sign Trustor's name ar pay any amount necessary for perfo�mance. Beneficiary s r�ghl to �erform for
<br />Trustor shall nat create an obligation to perform, and Beneficiary's failure t� perform will not preclude l3eneiiciary from
<br />exercising any of Beneficiary's other rights under tha law or this Security Instrument. TF arty canstruction on lhe Prtsperty is
<br />discontinued or nat carried on in a reasonable manner, Beneficiary may take al! steps necessary to protect Beneficiary's
<br />security interest in the Property, including completion of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. 'Frustor irrevocably grants, conveys and sells to Trustee, in trust fc�r the
<br />bene�t of �3eneficiary, as additional security all the right, title and interest tn and to any and alt existing or Future leases,
<br />suUleases, and any oCher written or verbal agreements for the use and occupancy of any portion af the Property, includin�
<br />any extensions, renewals, modificalions or substitutions of such agreements {all referred to as "Leases") and rencs, issues
<br />and profi[s {aJ.l re£erred ta as "Rents"). Trustor will promptly provide Beneficiary with true and correct cc�pies of all
<br />existing aad future Leases. 'Frustor may coltect, receive, enjoy and use the Rents so long as Truscor is n�t in default under
<br />lhe terms of this Seeurity lnstrument.
<br />Trustor acknovc�ledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is
<br />Entitled to notify any af Trustor's tenants to make �ayment of Rents due or ko bewme dae to Beneficiary. H�we�er,
<br />Beneficiary agrees that only on default will Beneficiary notify Trustor and Trustor's tenants and make demand that all
<br />futare ltents be paid directly to Beneficiar�. On receiving nqtice of default, Trustor will endorse and deliver to (ieneficiary
<br />any payrnent of Rents in Trustor's possess�on and will recei�e any Renrs in trust for Beneficiary and will not coramingle lhe
<br />Rents with any other funds. Any amounts collected will be apptied as provided in this Security Instrument. 'Frustor warrants
<br />that na default exists under the Leases or any 'applicable landlord/tenant law. Trustor also agrees ta maintain and requirc
<br />any tenant to compiy wiih the terms of the Leases and applicable law.
<br />13. LEASEH()LDS; CONDOMIIV�UMS; PLANNED UNTT DEVELOPMENTS. Trustar agrees to a�mply t�'ich the
<br />pmvisions of any ]ease if this Security �nstrument is an a leasehold. If the Property includes a unxf �n a condominium ar a
<br />planned unit cievelopment, Trustor will perform all of'T'ruslor's duties under the covenants, by-laws, or regulations of the
<br />condominium or planned unit development.
<br />(page 2 of 9J
<br />� � 1994 Bankets Systams, tnc., St. Cloud, MN form RE•OT•NE i130t2002
<br />��•C165({VE) {p301) Loan Number �ppc -XI(-XX��50
<br />S165EN NE (01/t0j
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