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<br /> �' B. All futurc advances from l.cndcr tu Grsnwr or othcr(uturc uhligatiuns uf(irantur tu l.cndcr undcr any promissory ==
<br /> � notc,contract,guatanty,�tt othcr evidcncc uf dcht cr.ccutcd hy (iraut��r in ft�vor uf l.�:ndcr cxccutcaf aftcr lhis
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<br /> Security Instrumcnt whethcr or nut this Securiry Instrumen� is s�ci(icaUy rcf'crenced. If murc t an une person
<br /> ;�' signs this Securiry Instrument,��uch Grentor agrces thnt this Securiry Instrument �vill �ecurc.dl futurc advanees and
<br /> ' ;� • tuwre obligations that are given to or incurred by imy one or morc Gruntur, ur .iny onc or morc Gr�ntc�r and �
<br /> others.All future advances�md other future ohligations aro secured by this Sccunty Instrument evcn though all ar �
<br /> part may nat yet be adv�nced. All futurc a�lvu�►u;,unJ oth�r futurc ohligtttinns are secured t�s if made rn the dnte �_:
<br /> "�'�� of this Securiry Instrument.Nothing in this Security Instrument shaU constitute a commitment te�muke additional
<br /> or future loans or advanees in any amaunt.Any such commitment must be agreeJ to in a sepuratc writing.
<br /> ,,,,_'� C. All obligations Grantor owes to I.ender,which may Inter arise,to the cxtent not prohibitcd by law,including,but
<br /> not limited to,liabilities for overdrafts relating to any deposit account agreement betwecn Grantor and I.ender.
<br /> �� D. All additional sums advanced and expenses incurred by Lender for insuring,preserving or otherwis�protecting �
<br /> the Property and its valuc and any other sums advanced and expenses incurrcd by Lender under the terms of �—
<br /> �' this Security Instrument.
<br /> ' This Security lnstrument will not sccure any other debt if lA:nder fails to sive any requircd noticc of thc right of rescission.
<br /> S. PAYMENTS.Grantor agrees thnt all puyments undec• thc Secured Debt will be paid when due and in accord2nce
<br /> • with the terms of the Securcd Debt and this Security Instrument.
<br />' �� 6. WAKttAN'fY OF TITI.E.Grantor u�arrants that Gr�ntor ic nr will be la�vfully scized ut the estate conveyed by this
<br /> � Security Instrument and has the right to irrevocably grant, convey, and sell thc Property to Trustee,in trust,�vrth
<br /> t:�'t�:::•;.�,� ' '1'� pawer of sale.Granlor also warrants that the Prupc:rty is unencumbered,except for encumbrances of record. _.
<br /> ���::'��'�'; ° 7. PRIOR SECURI'TY INTERF.STS.With regard to any other mortgage,dced of trust.security agrcemcnt or other lien
<br />`�� ° ' document that created a prior security interest or encumbrance on the Property,Grantor agrees:
<br /> ��>��`: A. To make all payments when due tmd to perform or comply with nll covenants.
<br /> � ��������. B. Ta promptly deliver to Lender any notices that Grantor receives from the holder.
<br /> C. Not to allow an}•modification or extension of,nor to request any future advances under any note ar agreement
<br /> �.�,�'4., •" secured by the lien document without I_ender's prior written cansent. _
<br /> ` ';:,�r� _ 8. CLAIMS AGAINST TITLE.Grantor will pAy all taxes,assessmcnts, liens, encurnbrances,lease payments,ground �
<br /> ��:�.:;�� :
<br /> rents,utilitics,and other charges relatin�to the Property whcn duc.Lcndcr may roquire Grantor to prc�vidc to L.cnder —
<br /> •�.:�; copies of all notices that such amounts are due and the reccipts evidencing Grantor's payment.Grantor will defend
<br />_�:.;i��,�:, � titic to thc Property against uny claims that would impair thc lien of this Security Instrumcnt.Grantor agrees to assign
<br />-•--- - - w Len3cr,a,ie:i�u�stc�by L�.ndcr,:s:ty riphls,ct�imc�,r defenses Grantur may have a�ainst parties who supply labor
<br /> -`:�:`�' or matcrials to maintain or improvc thc Property.
<br /> ""`''"�"''� y. DUE ON SAl.�OR FNCUMfiRANCE.Lcndcr may.at its��ptiun,dcclnro the entirc b�dance ot thc Sccurcd Debt to
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<br /> hc immcdiiitcly duc and p�iyHblc up�m thc crcutiun uf,ur cunlr.+rt for thc crcation uL any licn,cncwnbruncc,lrtinsfcr
<br /> �-�-- �ir salc��f thc {'roperry.This right is subjcct tc�thc resU�ictiuns imp+�scd hy fcJcrul law (12 C.f.R.S91).us++pplicablc.
<br /> 'I'hiti covcnant tih��ll run with thc Pruperry and sh+dl rrmain in cffcct unul thc Sccured DcNt is paid in full and this
<br /> --- - ticcuriry Instrumcnt is rcic.+�cd,
<br /> TM�r� 111. PRUPh:RTY CONpITION,AL'fEIZA'1'IONS ANU INSP�:C1'ION.Grantur�vill kccp thc Property in good
<br /> _�,r.r�:�� cunJitiun und mukc �ill ropiiirs thiu arc rcuson�ibly ncccss.iry. Gr.intur shall not commit c�r allow any wastc.
<br /> ---�:� impuirmcnt,or dctcrioration of thc Property. Cirantor will kccp thc Property frcc of nuxinus wccds and grasscs.
<br /> (;rantor agrecs that thc natur�of thc occupancp und usc will nut substantially chingc without Lcnder's prior written
<br /> ,� conscnt.Grantor will not permit any changc in any liccnsc,restrictivc covcnant or cascmcnt without Lcnder's prior
<br /> :� written consent.Grantor will notify Lendcr of all demands,proceedinbs,claims, and actions against Grantor,and of
<br /> �� tmy loss or damage to thc Property.
<br /> � Lcndcr or Lender's agents may. at Lender's uption, cnter thc Property�t any rcasonable time for the purpose of
<br /> __ — � inspecting the Properry. Lender shall givc Grantor notice at thc timc of or before an inspcction specifying a
<br /> � reasonable purpose for the inspection,Any inspection of thc Property shall be entirely for Lender's benefit and
<br /> —_;;���,� Grantor will in no way rcly on Lendcr's inspection.
<br /> -==° —_� 11. AUTHORITY TO PERFORM. I[Grantor fails to perform any duty�r any at the covenants contained in this
<br /> .=K-`_`�� Sccurity Instrument,Le:ndcr may, �vithout noticc,perform or causc them to be pedormcd.Grantor appoints Lcnder
<br /> — � as attorney in fact to sign Grantor's nan�e or pay any amount necessary fur perforrnance,L.ender's right to perform for
<br /> ...,�,,,,,�.� Grantor shall not crcatc an obligalion lo perform,and I_cndcr's failure to perform will not prccludc Lcndcr[rom
<br /> --^'��'• exercising any of Lender's other rights under the l��w or this Security Instrument.I f any construction on the Property is
<br /> ----- -"''�='� discontinucd or not carried on in a reasonable manncr, Lrnder may takc all steps necessary to protect Lender's
<br /> "'r"�; sccurity intcrest in thc Property,including complction of thc constructic�n.
<br /> 12. ASSIGNMENT OF LEASES AND RENTS.Grantor irrrvocably grants,convcys and sclls to"I'rustec,in trust for thc
<br /> .��� bcnefit of Lcndcr,a.r• additionul security all thc right, tiQc and intcrest in and to any and all cxisting or futurc Icases.
<br /> r.:y.:
<br /> >+t-,.�;; ; ; subleases.and any other written or vcrbal agrcements for thr usc and occupanry of any portion c�f fhe Properiy,
<br /> , including any extensicins,rene�vals,mc�Jificatiuns i�r suhstitutiuns vf such agrermcnts (all refcrred to as"Leases ) and
<br /> � rcnts, issucs and profits (all rcfcrrcd to as"Rcnts"). Grantor will prompdy pro��idc Lcndcr with truc and corrcct
<br />- � � copies of all existing and future LeHSes.Grantar may collect,reccive.enjuy.md use�hc Rents so lung as Grantor is not
<br />` � in dcfault undcr thc tcrms o(this Securiry Instrumcnt.
<br />°.•�.ti=�'•� Gr;�ntor acknowlcdgcs that this assiKnmcnt is perfccted upon thc rccurding of this I7ccd of'I'rust and that Lcndcr is
<br /> cntiticd to notify any uf CiraNcir's tcnants to makc paymcnt of{2cnts duc ur to hccumr duc tu Lcncicr. E�owcvcr.
<br /> -.•�-.,. IAndcr agrecs that only on dcfiiult will l.�ndcr nutifv(�nintor and Grantur'�trn.in�s and makc dcmand that all futurc
<br />`,..•:4,_. ,,�� Rcnts hc pxid dircctly tu Lcndcr.On rccciving nuticc u(dcfault, Grantor will cncior.;c �+nJ dclivcr to l.cndcr any
<br /> _ i�_........:-.. „�n��n�1 will rrri�ivi•:�nv Rems in trust fur Lcndcr:+nd will not cumminglc IhC
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<br /> ' � � Rcnts wilh any othcr funds. Any amcnints callcctcd will Nc ,inplicd as providcd in this tircurity Instrumcnt. Grantor
<br /> . wtirrants thxt no dcfaull cxists undcr thc Lcascs ur any aprlicahlc I,indlord/tcnant law.(�rantor also agrcrs tc�nr�intain
<br /> and reyuir�uny tcnant to comply with thc tcrms of thc Lcascs and applicahlc law.
<br /> ' ' 13. LEASEHOLDS;CONDOMINIUMS;PLANNI?D UNIT D�VELOPMF,NTti.(�rallor a�,mrs to cumply with thc
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<br /> • provisions uf any lcasc if this Security Instrumcnt is on.i Icaschold.If thr Pruperl�� inclu�lcs�► unit in a condomimum
<br />. � c�r a planncd unit devclopmcnt,Grantc�r will perfcinn �tll i�f(iranU�r's dutics unJcr thc cuvcnants,hy-laws,ur
<br /> � , rcFulations af thc condominium orplanncd unit drvrlopmcnt.
<br /> 14. DE�A.UI,T.(irantor will he in dcfault if any party ohligatcd c�n thc Sccured Deht fail�to makc paymcnl whcn duc.
<br /> ' ('irantor will be in default if a hrexch eiccurs undrr the term�uf this 5eruriry InStrumcm or any c�ther document
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<br />� � 0�99�Bonken SYSlems,inc.St C�oud.MN(�IIW-397�Y3411 Form RE•Di•NF b'&84 �
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