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<br /> B.All futuxe advacucs from 8eneticinry to Trustor or uthcr futurc obligatious of Trustor to 8encticiary under �ny
<br /> pramisrory note, contrnct, guarnnty,or other evi.lence of debt executed by Trustor in favor of Benefielary executed ;; -_
<br /> uiter this Security lnstntment whethrr or not this Security Instrume:nt is spr.c:ifically referenced. lf more th�n one y
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<br /> person slgns this Security Instruttknt. eai:h Trustor agrc�s thAt this Sc�curity Instn►mrnt will secure nll future ,,
<br /> advances and future obligatlons that nre given to ar incurnd by any one or more Trustor,ot any one or mors Trusror � r,
<br /> and others. AU futurc edvanas and other future obllgations ar�se�:uted by thie Security Instrument even though�ll
<br /> � or pnn may not yet be advanced. All futurc advnnca anA other future obli ations are sceured as if mada on the date _
<br /> uf this Security Iustrun�ent. NoQ�ing In this Securiry lnstrum�nt shall const�tutd a commitment to make additional or
<br /> future loans or advunccs ln any arrwunt.Any such wmmitmrnt must be agreed to in a separate writing. ,
<br /> � C.but oltslimitcd ostoiabilities�fBornovlcrd a�tts rclating to1eany deposlthaccount agr�menti�betweeia Trustordiand -
<br /> � Benet"iclary. � •
<br /> D.All additlonal sucn9 advanced and exp�nses incuned by Benrficiuy for insuring, preserving or otherwise protecting i
<br /> the Property and its vnlue and any oth�r sums advanced and expenses incuned by Benoficiary undez the terms of tdis _
<br /> Se�:urity lnstniment. I `:� __
<br /> This 5�.�:urity Instcument will not secure any other debt if Beneficiary fails to give raty required notice of the riQht of !
<br /> roscission. •
<br /> S. PAYMENfS.Trustor agrc�s that all payme:nts under the Sc�cured Debt wiU be paid when due and in accordana: with the ; �
<br /> terms of the 3ecurc�d Debt and this Scc:unty lnstrument. „,
<br /> 0. WARRAN'I'Y OF TITLE. Trustor warrants tliat Trustor is or will b� lawfully seized of the es[a[e conveyed by this :
<br /> Secudty Instrument and hes the right to inevocably grant,convey,and sell the Pinperty to Tnistee,in uust, with power of .='"'f 4:
<br /> sale.Trusror also warrants tttat the Property is unencumbered,excxpt for encumbrances of record. ,.
<br /> 7. PRIOR S�CURITY I1V'i'ERESI'S. With regard to any other mortgage,deed of uust, security agreement or ot�er pea �'.�����:,�_:
<br /> documeat that created A prior security interest or encumbrance on the Property,Trustor agrees: , �
<br /> ;' A.To make all payrnents when due and to perform ot comply with all coveaaats. •.:f;�4�,J
<br /> B.To promptly dellver to Bene�ciary any notices that Trustor rerelves from the hoider. .
<br /> C.Not to u]low any modificatiou or exteasion of. aor to request any future advances under any note or agceement _F;,,.
<br /> ,�, secured by the lien document wiWout Beneficiary's prlor wntten conseat. i F^�::-_
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<br /> 8. CI.AII4iS AGAINST TITLE.Trustor will pay all taxes,assessments,liens,encumbrances,leasa Payments, 8mur�d rencs• :r•.��,�
<br /> utilities, and other charges relating to the Property whrn due. Beaeficiary may rec�ulre Trustor to provide to Beneficiary :;:rt�..---
<br /> �.. copi�s of all notices that such amounts are due and the receipts evidencing Trustor s payment. Trustor will defend title to ;;���
<br /> the Property against any claims that would impair the lien of this Security Instrument. Trustor agras to aasl to ..�.
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<br /> �_ g�Pf r��ry ac rea�uested bv Beneficiary,any rigbts,claims or defenses Trustor may have against parties who supply a6or ,�;_�
<br /> or matedals ta maintatn or lmprove the Property. t
<br /> �� 9. DiTE ON 3ALE OR ENCUMBRANCE.Beneficiary may.at its option.declare the eutire balance of the Secured Aebt to '��°°—
<br /> be inur�cdiately due aad payable upon the creatioa of,or contract for the creation of, any lien. encumbrauc li�fe,r�os ___
<br /> sale of the Pcoperty. 'Ihis n�ht !s subject to the resuictions itnposed by federal law(12 C.F.R. 591�,_us app �,;
<br /> covenant shall run with the Property and shall remain in effect untll ihe Secured Debt is paid in fu11 end this Secudty �_��`
<br /> Instnunent is released. r°"�°�
<br /> 10. PROPERTY CONDITION, ALTERATIONS AND INSPECITON. Trustor will keep We Property in gaod condidoa _
<br /> and make all repairs that are reasonabiy necessary. Trustor shall not commit or allow any waste, impairmeat, or _ _
<br /> deterloration of the Pcoperty. Tnistor will kecp the Property free of aaxious wceds and grasses. Trusror agrees that the �:_---
<br /> ' �• � nariue of the occupancy and nse will not substantially change without Beneficiary's prior written consent.Trustor will aot [
<br /> t permit any change in any license,restrictive wvenant or easement without Beneficiary's prior wrltten consent.Trnator will ,
<br /> natify Beaeficiary of all demands, proceedings.claims� and actions against 'nustor, and of any loss or damage to the L:
<br /> . . Praperty. `
<br /> Beneficiary or Beaeficiary's a en�:nay,at Beneficiary s opdon,enter che Property at any reasonable time for the purpose 4
<br /> of inspecting the Property. �neficiary shall give Tnutor notice at the time of or before an inspection specifying a
<br /> � reasonable purpose for the in�tion. Any inspection of the Property shall be entirely for Beneficiary s beae�it u►d
<br /> � 'IYustor wili in no wny rely oa i3eneficiary's inspection.
<br /> 11. AUfIiORITY TU PERFORM. If Trustor fails to perform any duty or any of the coveaants contained in this Seciuity
<br />, } Instrument. Beneficlazy may, wlthout notice, perform or cause them to bepe rformed. Trustor a�points Beneficiary as -
<br /> � • attomey ia fact to sign Trusror's name or pay any amount nacessary for performance• BeneBaiary a dght toperform for
<br /> Tcustor shall not create an obligation to rform,aad Beneflciary's failure to perfonn will not preclude Beneficiary from _
<br /> = exercisinp any of Beneflciary's other ri�under the law or this Securiry Instrument. If any conetruction on the Propert�r
<br /> � is discontinucd or not carried on in a reasonable manner, Beneficiary may takc all stepa necessary to protect Beneticiery s =—_ _
<br /> � security interest in the Property,inr,luding wmptetion of the construcdon. ___
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<br /> 12. ASSIGNIV�NT OF LEASES AND R�N'TS. Trustor irrevocably grants, conveys and sells to Trustee, in trust for the „
<br /> ��, beaefit of&neficiary, as additional security all the right. title and interest in aad to any and all existing or futun lease.4, ��-�°
<br /> � subleases, and any other wr�tten or verbal agreements for the use and occupancy of anyportion of the Property. including :��'-;°.
<br /> any extensions, renew�ls, modifications or substitutions of such agreements (all refenod to es I.eases )and rents, issues �.� ,.: �
<br /> and profits (all referred to us "Rents"). Trustor will promptly provide Beneficiary with true and correct capies of all ;. _ ___—_
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<br /> � existing and future U:ases.Trustor may collect. teceive,enjoy and use the Rents so long as Trustor is not in default under ' t ,�z•:
<br /> � t h e t e r m s o f t h i s S e c u r i t y Instrument. ��!�'`V'
<br /> � � Trustor acknowledges chat this assignment is perfected upon the recording of this Dced of Trust and that Beneficiary is � ,.. ,�;��
<br /> entitled to notify any of Trustor's tenants to rnake payment of Rents due or to become due to Beneficiazy. However, .�..�.. �..
<br /> Beneficiary agrees that only on default will Benefictuy notify Trustor and Tn�stor's tenaats and make demand that all
<br /> future Rent,c be paid directly to Benefieiary.On receinng notiee of default,Tcustor wi11 endorse and deliver to Baieficiary
<br /> any payment of Rents in Trustor's possession and will rece[ve any Renzs in trust for Beneficiaiy and will no[wmmingle
<br /> . „_ . _ the Rents with any_other funds. Any amounts collected will be a�plied as provided in this Socurity instrument, Ttustor
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<br /> . . _............�:....ti.ie e�at.,.dhPnnnr taw. Tructnr elso aeiees to mlaint8in aDd
<br /> wamants mac no ae�auu oa�sw w�u�� u�c a.�.w..�.,. o..�..i.r...»..._ :—.------------ -- _ -- _
<br /> require any tenaat to comply with the temLV of the I.eases and applccable law. �
<br /> 13. LEASEHOLDS; CONDOIVIINIIIMS: PLANNED [JNIT DEVELOPMEN'TS. Trustor agrees to comply,with the �
<br /> � provisions of any lease if this Security Instrument is on a leasehold.If the Property includes a unit in a condominium or a I
<br /> + planned unit development,Trustor will perform all of Trustor's duties under the covenants, b}•-laws, or regulations of the ,
<br /> � condominium or planned unit developmcnt. �
<br /> I (pege 2 0!41 �
<br /> J m79948aManSyslam7,�nt,St CIOUO.MN 11800�39723411 FormRE�DTNE 12/2J/96
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