|
� ;:
<br /> �
<br /> � ;
<br /> 97� 106�49
<br /> �-
<br /> B. All futuro wdvancus from Brntlficiwry to Trustor��r othtlr futuro ohligatian, nf Trustor to BtlneficiKry uncldr Any I ;-
<br /> prumi�wry rwta, contrrct, guxrwnty, ur other�vidanc:tl of deht axe�:ut�d hy Truxtor in fxvor Uf B�n�ticiKry dxw;utcxl i ,,,
<br /> wttdr thiy 5�x:urity Imwtrumtlnt whnthar ur rx�t thix Srx:uriry Inxtrumant is,pr.a:fficYlly rcfaronc�xl. If mc�ro th�n otw ;�.
<br /> { �wrsun tiiyns tfiiw Sr,�;urity Inhtrument, r,�►ch Trustor wgruz� thnt thir+ Su:uriry In,trumant will srcure rll futun� _
<br /> � �clvwnccv rncl futuro ohligwtionK thst xr�yivrn ta or incurreJ hy wny ona��r muro Trutitor,or wny c�nn or nwro Tn►ntur �
<br /> MI1tI OIIiV'iH, All futurtl w�Ivwnctls wnJ nthnr futurtl�ibligwtions xrd Mx:ur�vl hy thiy Secudty Instrurr�nt tivun though Kil __
<br /> � or part nwy nut y�t hc:udvunc�d.All futur�advitnces nnd i�ther futurr obl��Ntinnti xro+cx:ureel xs if mudn un thn dKte _
<br /> af thia S�xuriry Inrtrun�nt. Nathing in thi:�Sec:urity Invtrumcnt nhKll canstitutn K commitcrwnt to m�ka NJditic�nxl or
<br /> ' futuru lw►nv or aJvrtx;ati in any+�maum.Any such commitmnnt must Fw�grcdcl to in A�prrrta writing.
<br /> � C.All obligrNuns Trustor owae tu Bcnwficixry,which may l�ter aristl, to thn axtont not prohibitr,�l by lww, incluJing, �
<br /> ( but nc►t limited to, liAhilitias fi�r overdrafts rclKting to xny dtposit �ccount agrrvm�nt h�twe�n Tru�tc�r and -
<br /> � Banafici�ry. �
<br /> � D.AU additional num4 aJvanceJ and ex n�e.�incurrr,d by Banaficisry for insuring, prr.s�rving or atharwira pr<�tw.ting �
<br /> ttta Pra�nrty xnd its valua snJ any ot�r�ums uJvxnced and�x�enses incurred hy B�n�ficiary unJ�r tha tarm, of th�s
<br /> Security Intitrumnnt.
<br /> �
<br /> This Sesurity lnstrumcnt will not se,:urC any oth�r d�bt if B�nnFiciruy fxils co�i�n uny n�uir� nocica of chn riaht of r
<br /> r�scissioa. �...�r.�a.-.�
<br /> �
<br /> S. PAYIVI�NTS.Ttvstor rgr�s that ull paymc3nts under thd Securzcl Dabt will ha pQid when Jua ancl in accordance with tha �'."_-'°=�'"'
<br /> :�,+;:�-�--.••
<br /> tdrms of tha Sdcun�d Drbt and this Scxunty instrumant. -f�-r
<br /> 6. WARRANTY OF TITLE.Trustor warrant�t3yat'L'nistor is or will tx� lawfully saizdd of th� vsu►te convey�xl by this '' `�
<br /> Sticurity lastrutnant xnd hKS thd right to irrcvoc:ably grant,convey,uncl�U tha Property to Trustn�,in tcust.wtth powar of �
<br /> sale. Trustor xlso warrAats thwt tha Proprrty is unencumbarod,eac�pt for cncumbrnnc�.y of►tx;orcl.
<br /> 7. PRIOR SECUR[TY �NTEEtESTS. With rtigard ta any other mortgage, deed of trust, s�curity agr�munt or other lien
<br /> document thnt cr�atad a prior sec:urity int�re�t ar�ncumbrxncc on th�Prapcsrty. Trusror agrues:
<br /> A.To maka all pAya�nts whan due and to p�rform or camply with all covenants. •
<br /> B.To promptly ddliver to B�naficiary any notir,e.v that Tn►stor r�tv�.v from tha holJar. _
<br /> C.Nat to �llow any rrwdific;atian or tlxtanston of, nor to rdyu�.st aay futuro udvanca, u�xler any not� or Qgr�xmant -
<br /> ��� tiucural by tha li�a docuuwnt without B�ncficiary's prior wnttan conse�nt.
<br /> � 8. CLAIlVIS AGAINST TITLE.Trustor will p4y xll taaes,assessm�nts,li�as.encumbrwncra, l�asa paym�nts, ground r�n�v, .�;
<br /> m
<br /> • � utilities,nud athar chwrgCS rolKting to the Prop��y whtln due. Ben�ficiary may rraluire Trustor to provide:to Benaficiary i ; ''
<br /> copies of xll notices that such amoun�s aro dua x�d tt�e rrczipts uvid�ncing Trustor s payment.Trustor will d�f�ad titl�to
<br /> thd P�srty Y$AlnSt Any clrim� that would imp�i� the lian of thrs Sr.curity Instrumant. Trustor agr�.c to sssign ro _
<br /> Banefici+�ry,aa royu�.stad�y bCneficirry,aay ri;�ncs. claiin+or deics►�s Tc uato:u–�ay hava a�aiasf patti�.:wha�ap�s2;lst�r - ---- ..'�
<br /> � or roatarials to m+untain or tmprovz tha Property. �" `'
<br /> �1 i;
<br /> 9. DUE ON SALE OR ENCUMBRANCE.B�n�ficiary may,wt its oprion,declar�the antird bs►lAnea of the Secunxl Debt ta '
<br /> • br immactirt�ly dua and payabld upoa the ctr.ation of,or contract for the crration of, any lien, �ncumbranw, trnnsf�r or ���.'';,l � .ii��•
<br /> �sale of tlw Proparty. This right is subject to th� rcstrictions impo�xd hy fadzral law(12 C.F.R.591).�.4 applic�bltl.This �`�•���,. , Y
<br /> �. covemnt shnll tun with the Propcsny xnd shall rcm�in ia rffec:t until the Securcci Dabt ie paid in full and this Sexurity ��� ° ° � � .
<br /> Instruawut is releas�d. •�•�� ,�
<br /> , . � 10. PROPERTY CONDITION� ALTERATIONS AND IIVSPECTION. Truhtor will ke�p the Proparty ia�ood conlition
<br /> a�qd m�ka nll rep�irs tfuit w reasonnbiy nnc�ssuy. Trustor shall not commit ar allow any wYSt�, impwirrt�eat. or ;
<br /> � cktariontlon of ma Property. Trustor will k�xp th� Prop�srty fre�of noaioac we�cxls�nd grasses. Trustat Agrees ttut the
<br /> ,.� . roturr of tbe axupancy end uw will not substantidly c6itnga without B�ae�ciYry's prior wntt�n coaseat. Trustor will not �,, ��:;a—
<br /> • . permit aay chaag�in eny lic�nr,c�,r�stric;tive wv�nrat or ra�smant without B�ntlfici�ry's pnor written cocisdnt.Trustor will ,. �,�_
<br /> nohfy Beaafici�ry of�11 d�mands, pmccx�dings.claims. ancl actions agxinst Trustor, rnd of nny loss or dam�g� to the _. :
<br /> ' Pro rt ;�;.��'�
<br /> P� Y•
<br /> • , rr-:,�:�A...
<br /> Benaficisry or Benafici�ry's xg ents may,nt B�n�ficiary's option,�nter tha Property rt any rr,�sotutble tid�for thd�urFwse .;:.:.:�r��,;
<br /> of insphcting the Property. Beneficisry shxll give Trustor twttca xt thn timu of ar t�fore an ins�p�ction s�c��y in� n ..
<br /> � rea.sombla pu�sd for th� i sp�cNon. Any inspection of th� Propa�ty sh�ll l�e entirely for Benu�iciary's bene�fit and -
<br /> r n :,-•;=,.
<br /> ' � Trustor will in no wny rely on Ben�ficixry's i�upection. -
<br /> �.��
<br /> � �: 11. AUTHORIT'Y TO PERi�ORM. lf Trustor fails t� perform any duty or any of tha cnven+�nts contxid�d in this Sdcuriry ,.�:�;�-�
<br /> ln�rument, Bnne�ficiary may, without noticu, perforra or cxu�e thtlm to be�rform�xl. Tcustor a�points BeneRci�ry ox _- _
<br /> attoraey in fact to sign Trustor's natmj or pry uny anx�unt nac:�ssary for p�r�c�rmanw. Braafici+�ry s right toperform for _ _-�-_
<br /> ? Trus tor s h a l l no t cr�to aa obligAtion to p erfarnn,rnd Benefici a r y's fuluro to p erform wiU not precludn Beaaficiary from
<br /> 't.M �.• ��il
<br /> eaercising xny of Benaficiary's othrr nghts uixi�r tha law or this Security la.truc►�nt. If any coatihuetion on tho Propurty '
<br /> is discondnudcl or aot carriexl on in K r�sonrbld awnr�r, B�ndficirry may takd wll steps aac:rasary to protc�ct BeaeRciary's � ��
<br /> sdcurity interest in the Property,incluJing completion of the coastruct►oa�. '
<br /> l�� 12. ASSIGNMEIVT OF LEASFS AND RENTS. Trustor irrovocably gnwts. convdys Qnd sells ro Trustae. in trust for the � '� "
<br /> ixnafit of Bdn�ficiary.os additionxl sc�urity ull the right, title�nd inter�st in aad to rny AnJ rll dxisting or futur�leases. '
<br /> subleas�s,Knel any other writtan or verbal��mants for tha usn�xl ou:upuncy of any rtion of the Property,includfog
<br />_ �ny aatzn9ions,r�nawrls. modiftc�ttiomti or subadtuhoa4 of such agroements(all r�fr�o rs"L�.�s') anci r�nts.issuos
<br /> wid profits (oll refemjd to as 'R�nts"). Trustor will promptly rovida B�ndficiary with tnw rnd com�et cop�ra of dl
<br /> �xistmg aixl future I.�asos. Trustor mry col(nct, rec�ivd,enjoy�use thtl Rents�long�s Trustor is not in dehult under
<br />-_ +� the terms of this Securiry Instrument.
<br /> j
<br /> � Trustor acknowledges that this�.�..ignment is p�rf�x:t�xl upon the rexorcling of thia Dred of Trust and thxt Beneficiary is
<br />_ t antitled to notify �ny of Ttustor's tcnents to m�k�payment of Rents Jue or to bec;ome due to Beneficinry. Howaver,
<br />- I Ben�ficiary egrees that only on d�fau�t will B�nefic�wry notity Trustor ancl TNStor s ten+�nts wncl maks demrn�l that all
<br /> � � futurtl Rants!w paiJ directly to DtlrwficiYry: On rec�iving notica of ciefault,Tnutor will�ndorsa and deliver to Ben�ficixry
<br /> • any�yrrwnt of Rents in Trustor's possession and will nceiva any Rents in trust for Btlnsflci�ry snd will not commingl� �
<br /> .u.,Danfa w:�h onv��h„r fi�nrle. Anv Hmnun►c r.nilectad wiil ba rnnilecl es nrovidecl in this S�x:urity Instrumnnt. Trustor
<br /> I warrants thxt no dafau'It exists under thr Lxa.�s or any applicubla iAndlord/terwnt I�w. Trustvr xlso xgreee.s to maintain Ynci ;
<br />' �yuira any tamnt to comply with the t�rm.,of thtl L�ses�ncl appliu�ble law.
<br /> f 13. LEASEHOLDS; CONDOMIlVILIMS; PLANNED UN1T DEVELOPMENTS. Tru,tor agrew to comply with the I
<br />' ' provisions of wny lea.tiu if this Security Instrumcnt is on a leruehold. If the Prop�rty itx;lude.+x unit in a condottumum or x �
<br /> � plonnwl unit dovalopment. Trustor will perfortn�II of TttuWr's dutiea unelar tha covenants, by-laws, or rogulxtions of th�
<br />__ i condominium ur ptantxx!unit drvelopment. ,
<br /> i
<br /> i fpeys 2 at 41
<br /> 2+IIYIB�NcereSy�l�mf,Int..E�.C�oud.MN 11•800•J9t•23��1 Fo�mHE•DT•NE B/t�r8e --- -- �
<br /> i �
<br /> ; . • , '
<br /> , f
<br /> .
<br />
|