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<br /> B. Ati future advances from Beneficiary to Tnutor or other future obligauous of?rustar co Beneficiary under any
<br /> promissory note. conuact, guaranty.or other evidence of debt existing now or executed aRer this Deed of Trust
<br /> _ _ wheiher or not this Deed of Tnist is speci8cally referred to in the evidence of debt. �
<br /> C. AlI obligations Tnutor owes to Beneficiary, whi�aow racist ur maY later arise, to the extent not prohibited by .
<br /> law. inclading. 6ut not limited to. liabilities for oveNrafts retaiing to any deposit account agreemrnt be[v`cen �
<br /> Trustor and Beneficiary.
<br /> � D. All additional sums advanced and expenses u►c�ured by Beaeficiary+for insuring.preseniing or otherwise pmtecting
<br /> • the Property and its value and any other sums advanced and expenses incurred bY Eeneficiary under the tertns of
<br /> , this Deed af Tnist, plus interest at the highest rate in effect, from time w time. as provided in the Evideace of
<br /> Debt. : '
<br /> ,___ E. Truseor's performance under the terms of any inshvment evidencing a debt by Trustor to Beneticiary and any Deed s
<br /> of Tnut securing,guarantying.or otheswise relating to the debt.
<br /> ' If more than one petsoa signs this Dced of Tmst as Tnutor,each Trnstor agrces Wat t6is IIeed af Tnut will se�vrc all -
<br /> futute advances�d fnt�u+e obligations desrn'bed above Wat are given to or incurred by any one or mo:e Tnistor.or any •
<br /> � ane or more Tmstor anci others.This Dced of Tmst will not secure any otiier debt if Beneftciary fails.with respecc ro such �
<br />- othes debt,to make any required disclosure about this De�d of Tnut or if Benefceary faiIs to give any required notice of k•,
<br /> the right of resassion. � " •
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<br /> � 5. �AYMEN'�S.Trastor agrees w make all payments on the Secured Debt whea due and in accordance with the tem�s of the } . ,
<br /> ' . " �k"s'a�ce of Debt or this Beed of Tn�st. � .
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<br /> 6, WpRRANTY OF T[17.E.Tnutor oovenants that Tnutor is lawfnlly seized of t�:estate conveyed by this Deed of Trast ..
<br /> �� ' � and has[he r'c�t to irrevacably gcant,convey and sell to Tnistee,in m�st,arith power of sale.the Property and wazrants F *
<br /> ;. that the Pce�sty is unencumbered,eaoept for encumbraaces af record. � •
<br /> . ��} "�° � 7. CLA�IIV�.S AGAINST TITLE.Tnutor will pay all taxes.assessinenu.lieas,encumbr�ces,lease paymenu.gt��reats, `f .. �
<br /> ' �ities,and ather charges relating to the Pcoperty when due. Beneficiary way require TnLStor to provide te�frciary ! , '`
<br /> � �, � copies of all notices that sucb amnunts are due a n d t he receipts evi dencing Tmstor's pa y m e nt.Trustor will det�title to �
<br /> ' � � i the Property against anY ciaims that would'uapair the lien of this Deed of Tn�st.Trnstor agrees to assign to Benenciary,as • :�:'_
<br /> � , ,�r;.,�•.:
<br /> requested by Beneficiary, any riP,hts, clauru or defenses which Tmstor�nay have against parties who supply labor or � • ;t,-:;=
<br />- . . . . materials to impmve or mainra;n the property. � ; -
<br /> � 8. PRIOIt SECURTI'Y IIV'D�dtESi'S.With regard to any other mortgage.deed of trust. sewrity agrcement or other lien . '•E�. �'; .
<br /> ' ' docnment tiUat a�eated a priar sewrity intecest or encumbrance on r�e L�noperty and that may litve priority over this Deed - �; �.:;...`:
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<br /> _ � of Tnuc,T��s:�ar agrees: . :; ,;:.`
<br />_. ` : A. To make all payments when due and to perform or com�ly m�aU covenanis. . . . '`'-:';:i4
<br /> , ; B. 'f'o prompdy deliver to Beaeficiary any notices ti�Tsusmr rPCeives from the holder. �. .:•.
<br /> � . + C. Not to make or pemrit any modification or exte�����of.aad not to request or accept any f�.'tIIe ads��s u�der anY : ,i..J.
<br /> note or agreemeut sec�red by.tlte other mortb�;�:.dee�cf tiust or security agreemeat usit�s Be�fi�v;wnseuts ..,. , ._ -: �'
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<br /> ��� 9. DUE ON 3ALE OR ENCUMBRANCE.Beneficiary may.at its opdon.declare the entire balance of the Sec.vred Debt to � •:,• :�:
<br /> ;� be immediately uue and payable upon the creatIon of any lien.encumbrance,tcansfer.or sa1e,or wntract for any of these I • :1`.>�
<br /> ,;-.,�. - �
<br /> _ on the Property. However. if the Pcoperty inclades Tn�stor's resideace. this section shall be subject to th�resuictions ,;_<<�.
<br /> imposed by federal law(IZ C.F.R.591),as applicable.For the purposes of this section,the term"Property"als�includes �.� �, � .
<br /> '_ ' •.� any interest to all or aay part of the Property.71�is covenant shall r�a witb the Property and shall remain in effea.until the �� �'
<br /> Secured Debi is paid in full and this Deed of 7Yust is released. �
<br /> � . `. �;� 10.TRANSFER OF AN Y1V'F�REST II�i'I'� GRA1�'L'��.lf Tn�stor is an endty other than a aatural pezsca(such as a • ,'s r,�`. .
<br /> -' ' ' �' '� co r p o r a t i o n o r o t h e r o r g a n i z a t i o n), B e u e fi c i a ry a�y d+�n a nd immediate pa Y m e nt if(1) a beaeficial intere�ia Tn�stor is
<br /> ��4 � ; •`., '},�;::' sold ar transferred;(2)there is a chaQ�e ia either t�e idendty or number of inembers of a partaerslup: or(3)there is a . - '...-;•`':.
<br /> : � . . chh�ge in ownership of more than 25 ger�ent of the voting stock of a corporation. However.Beneficiary may not demand .(s, : �.
<br /> � : �� payment in the above situadons if it is prohibited by law as of the date of this Deed of Tn�st.
<br /> � 11.ENTITY WAREtAt�PB'IFS AND REPRESENTATIONS.If Trustor is an entity other than a natural petson (such as a .�.
<br /> 'r' , ��, wzporadon or other organlzation),Trustor makes to Beneficiary the following warraaties and representations which shall
<br /> .� be continuia�as loag as the 5ecured De�t remains outstanding: � �
<br /> :; A. Trasrrr is an entity which is d�ty organized and validt. existing ia the Trustor's state of incorporation (or •
<br /> � � org�zatiou). Trustor is ia good standing in all states i��i�icb Trustor ttansacts business.Trustor has the power
<br /> ''`� ' and authoriry to oam the Property and to c,aTy on its business as now bein� conducted aad. as ap�licable. is
<br /> : • � qualified to do so In eacb state in which Tnisca:caerates.
<br /> �`3, B. The c'xxcution. delivery and pe�fo:inance af ms Deed of Trust by Tnutor and the obligation ev5�x�ced by the
<br /> • � � Evicf�aee of Debt are within cy: rower of Trustor. have been duly suthorized, h�v�e received all necessary
<br /> �� govesnmental approval.and will ss violate any proviston of law.or order of court or govemmentat agQacy.
<br /> - .�f C. Other chan disclosed in writing Tn�stor has net changed its name within the last ten yea�s a^_3 hss no•.used any ,
<br /> other trade or fccrit.ous aame. Without BeaeF:::sy's prior written consent,Tn�stor does not ac�a;ll not use any 4� •
<br /> �; other name and w11 preserve its eaisting name.trade names and franchises until the Secured Debz is sa7s�ied. ,
<br /> _s •
<br /> '� ' � 1Z.PROPEIIZT�i CONDlTiON, ALTERA7TONS AND INSPECTiati. Trustor will keep the�taptrty 4n go�d conditian : •
<br /> ��. � and make sll repairs that are reasonably necessary. Trustor will give Beneficiary prompt noti�: �of any la;s or dacnage to �
<br /> ` I the Property.Tn�stor will keep the Property free of uR:ous weeds and grasses.Trustor will not initIate,joie�in or conseat � •
<br /> 1 to any change in any private resuictive coven�, maing ordinance or other public or private resuiccion limitin� or � . ,
<br />_ , I defining the uses which may he made of the Property or any part of the Property.without Beneficiary's prior written I' �
<br /> wnsent. Trusror will notify Benefici�� of all demands.proceedings. claims. and actions against Trustor or any other .
<br /> • owner made under laa+or regnlation m�rding use,ownership and occupancy of the Pcoperty.Trus[or will comply with all � , . . . .
<br />- legal tequirements and restrictions.whether public or private.wlth respect to the use of the Property.Tnutor also agrees • .. �
<br /> ,� that the nature of the occupancy and use will not change without Beneflciary's prior written consent. , ,.
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<br /> IVo portian of the Property will be removed,demolished ot materially altered without Beneficiary's priar written cons�
<br /> except that Tcustor has the right ta remave items of personal property wmprising a part af the Property that became wam
<br /> i:� • _. i •, • � vage 2 0�s ; ..-
<br /> ;...} � � v�1993 Baninre Svs�eml,mc,SI C�wtl.MN It 806397�23411 Fo�m AG�CO DT�NE 9/1396 i '
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