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<br /> . �� f or abeolete.provtded th�t euch perso�►t1 proPerty i�repl�cxd with othec perwnal propcny at Iwt equa in vdue to the
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<br /> �^��� replaced personel pmperty, free from nny dtle retentlon devlce, eocurlty pSreemene or other encumbru�ce. uc
<br />°,_�:`i���� replecernent of perdotul property will be damed cubjoct to t�o security inurest cceated by thia►Deed of Trust.'Trueror ehall --
<br /> _���,r. not pardtic�n or eubdivide the Pro�xcty without F3eneflclury s �Sdor writtrn consent. &neficisry or 8eneficluy'e ��ente
<br /> may, at Beneticluy'e option. enter the Property at �ny r�wocu�ble time for thc pu�pose of inapecting the Property. Any
<br />:'��� Inspection of the Propedy ehall be cnNrely far Bcneflciary'e fxne�it �nd'Cruy!or will tn no way rely on Benefjclary'a
<br />-'�`'�� imspoction.
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<br />� .��d,i'�+°-� 13.AITi'L:ORI'PY TO PI�LRFO1tM. If Tn�st�r falle ro perfonm eny of Trustor's dutits under thie Deed of Trust,or aay other
<br /> y,�,�,,,� mortgage, deod of trust�eecuriry agramcnt or other llrn documeat that h�s pclorlty over thie Dood of'!'ntst,l3eneficiary `
<br /> ,.,�� mey,without noNce,perfomi the dudes or cause them to be performod. Tnutor sppoints Beaeficiuy es ettomey in fact to
<br /> Y F.,1W, - slgn Truator's aame or pay any amouat aeceasary for perfom�ance. If any construcdon on the Propecty ie discontinuod or
<br /> r^,�.: aot carried on ir►a reaeonable manner, Beneflciary may do whauvar i�necesa�ry to pmuct Beaeficiary's securlty intenst
<br /> • � in the Yroperty.Thia may lnclude completing the cc�nstmctioa.
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<br /> ---s��=� Beaeficiuy's right to petform for Trustor shall not crtate an obligation to perform, and Bcneficiary's failurc to perform
<br />_=_=_�a will not preclude Beneficit�ry from exercising euy of Beneficiary's other dghts under thc law or this Deai af TYust. My
<br />_ amounts paid by Brneficiary for inswing, preserving or otherwise protecting the Property and BeneHciary's socurity
<br />:_����,_�_�,; interest will be due on deauuxl aAd will bear interest fcom the date of thc payincnt unW paid in full at the intereat rr,te in
<br /> � ;;;,• effect from time to time aocordiag to the tem�s af the�vidence of Debt.
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<br /> __°-},°-"' lA.ASSI�NML+N'1'OF LEASES AlVis RE1VT5.'iYuamr irrevocaUly gn+nta,conveys and selis as add9tional security all the
<br /> ---=_-:�_;,_�... right,8tle and i�terest in aad!o any imd all:
<br /> �-=�:�°v;�� ; A. �xisdng or fl►turo laases..svbleascs,llGenseas,6�uarandes and any athcr wrlltea o�verbul agr�e�ts for the use and -
<br />�- ��°i' occupancy af any portion of the Property, lncludiag any extensions. renewals, modificatlons or substitutions of
<br />__::;b��� suchagreements(al!refkrred to as Leases ).
<br />--- B. Rents. issues and pmflts(all refernd to as "Reate"),including but not li:wited to security deposite.minimum reat,
<br /> -_ percentage rent� additional rent� comcmn aret maiatea�nce chargee. Parking chArgea� real eatate taacs. other
<br /> -_'----- applicable taxes, ins►unace premium contribudons,liquidited dainages following default. caacellatioa pmnium�,
<br /> "loss of renu"iasurance, revenues,royaltiea,Procad9•bonusca� and�Il rights and claime which Trusror mAy have
<br /> that tn any way penaint to or is on account of the use or occupancy of the whole or aay part of d�e Property.
<br />- - -- Tnutor will promptlY pmvide B�neRciRty with tsue uui cornct copies of all eai�tin� and ft�turt L,e�see. 7Ywtor msy
<br /> -- wllcet,recelve,enjoy ead use the Rente�o long sa Tnutor b not in default. Trurtor will not oollect in�dvu�oe�ny Reaue
<br /> due ia (uture le�ue pedod�, unlsse Truator firot obtaina Beneficiuy'e wdtten conunt. Upon defwit,Truawr wlll rxclve
<br /> - ;,���.;.,;a!n:ns:e for�P.^c.y.�T��AU,r wilt ao�comminale c�e Renu wt�,u�y o�h�r lund..Any anouna collecced
<br /> dull be eppl[ed u Ba�eflcl�ry'o dl�cmlan to p�ymente on tlie Secured Debt iu therein provided,W cwrt�of mantgtng we
<br /> propertY� includiag� but aot llmltod to� �Il tuca. as�asmau. Inauru�ce prani�� reP�ln� wd comen�uloas W renuJ
<br /> agenu.wd to�ay otha nocewuY relxted eapenees includin�Beaeficluy't�ttomey�'foa,Pueleg�l fea�nd court ca�u.
<br /> Truuor�cknowlodgea tlu�t[h�s asrig�uaent le p�rfectad upoa the rocordia6 of this Deed of Tniat u�d that Beneticitry ie
<br /> mtided to aotlfy any of Truttar'e teawu to make p�y�nent of renta due or to become due to Baxffcluy. Howcver,
<br /> Benefici�ry agreea th�t oniY on defwlt wll1 Beoeficiuy �wtify Tnutor md Truator'� tw�au u�d mdce danand thu all
<br /> futtu�e Rtata be paid diroctly to Beneflcixry. On roceiving the nodcx of dcfault, Truator will wdone urd deliva to
<br /> - "--- l3eneflci an a ments of Rant ia"IYustor'a poaaesaioa.
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<br /> 'Tcuator covcn�nts thu no dr•bult exiats under the L,ea�a or oay applicable landloM law.TcwWr also coveaanta and sgrea
<br /> to rrisintain, and to requira the tcn�atr to comply with, tLe Leases end anY spPllc,�ble law. Tcuator will.promptly natify
<br /> Beneficiary of�ay nonoompli�use•If Tcustor aegla�.+or nfusea to arforce complimve with the terms of the Le�rtea.thea
<br /> Beneficiary ra�y. at Beneficiuy's option, enforce coaq�liuice. Tcuacor nvill obtain Beneficiuy`s wdtteu �uthorizntlon
<br /> before Trustor consenu w sublet,modify. cancel,or otherwise�Itec the H.eaaes, to �capt the�urrender of the Pro�iy
<br /> co��d by such uase� (unlpa the Leaaea so requin), or to assign,compmmise or encumber the L,aaea or aay lt�hue
<br /> Rents. Tsustor will hold 8eneficiery harniless aad iademnify &aeficfary for any aud all li�bility. loas or damage tt�t
<br /> Bw�ciary asiy incur s+a coneequenre of the usignment under this eection.
<br /> IS.CONDOAQIVIUMS; PI.ANNED UNIT DEV�LOPMENTS. If the Froperty includes a unit iu a condominium or a
<br /> planned unit developmeat,Tcuator will perform all of Trustor's dutics under the cova�ante.by-laws,or r�gulaUtons of the
<br /> condominium or plaaned unit development.
<br /> - 16.DEFAULT. Trustox will be ln default if any of the following accur:
<br /> _ A. My puty obligatod on the Secured Debt faile to rnake paymeat when due;
<br /> - B. A breach of any tertn or covenaat in this Deed of'[Yvst,any prior mortgage or any consuuction loan agceemeat,
<br /> � secvrity agroe�m►t or aay other documeat evidencing� guarantying, securing or otherwise relating to the Secured
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<br /> - =--= C. The m�king or fumisbing of any verbal or written aepreseataHon,statemeat or wuraaty to Aeaeficiary that ls false
<br />_��� or incorrect in any material respcet by Trusror or any person or entity obNgatod an the Secured Debt;
<br /> ��,���,�_.�� D. The dath. disaoluuon, appointment of a receiver for. or application of any debtor nlief law to, Tnuror or auy
<br /> =_y�� person or eatity obligatod oa the 5ecurod Debt;
<br /> _-�:=��. B. A good faith belief by Beneficiery at ouy wue tUnt Eenefictary Is insecure with respoct to any petson or entiry
<br /> ___ti�,��`?�� obligatod on thc Sccured Debt or that!he prospoct of any payment is impairod or the Property ie ir.�paited;
<br /> _-==; F. A matedal adverae c3�ange in Trustor's busines�including ownersWp,manxgenxnt,and finaacial conditiona.which
<br /> _-v��' Beneficiary in ite opinion believes impa[rs We vaiue of th�Property or rcpaymcnt of the Secumd Debt;or
<br />---�`�; ���� (3. Any loan proceeds are used for a purpose thatwill contrlbute to excesalve erosion of highly erodible land oc to the
<br />�;��`�r , convereion of wetlands to produce nn agricultural conunodity,as further explained in 7 C.F.R.Part 1940, �bpart
<br /> - �•- ii,�xnioii ivi. _
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<br />'�• � � •. y�• 17.RE1I�DIES ON DEFAULT. In some instanaes, fedcral and etate law wi11 require Heneficiary to provide Trustor with i
<br />�,'.-:_.+ :_f �,�t notice of the right to cure. mediation notices or other noticc;s and may establish tune schedulea for foreclosure actions. �
<br /> - w� Subject to these ]imitations. if any, Beneficiary mny accderate the Sccuird Debt and foreclose this Deal of Trust in a !
<br />_ -� •,:�„ ►n�wncr provided by law if this Trustor is in default. _
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<br /> ' � „ , �y: m 1893 B�nkst SylHm�.Inc..St.Cloud.MN 11-000-397•13471 Fam AO/CO�D7•NE 8113/96
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