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<br /> . `'�t 1?i��03i'ffi�115 t0 t�C _ .....
<br /> ' . is laoed witb other personal grop�t�� `��'��_� ',.
<br /> or obs�lete.provtded tl�at sac;h pe�e1 PmP�Y � e or othet � � °� - -- .��t ` .
<br />. . .. replaced pasonal p:'nPertY, f�e ftom aay dtle r�on device, ���Deed of Tntst.Thutor shall -u�`�` .
<br /> . ceplac�ueat o f getso�l p m p e i t y w�7 1 b e d e e m e d s n b,je�to sbe saauity' or B�e fi c�a r y's a g e n t s � • ,
<br /> e ty r�+ritten oonsent.BeaeficisiY
<br /> � . . not pardt�on or subdivide the Fc+opetty►without Beneficia�Y s P� �of inspe�ing the PcoP�y � � .
<br /> � may,at Beaefisiary�s opiion+ eaDer the Fropetty B a�►�s o n a ble tIme for the patpo , ,. .. .
<br /> � . ''` " iffip�tioa of the P�mp$rty s�a116e eatIt�iY for eaeHc�asy's b�and Ttuswr will in no waY t+elY on Beae s `� , -
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<br /> ( .° e s� 13.AiI'TSORITY TO P�t�OBM.1f Trustor fa�s w perfo:m aay of Tnutor's dnt�es under th9s Dad of Tmst.or anY other � ' , :
<br /> -��°=.,w.,�:; a or othgr#en da�t ti�at has prtority over this Deed of Tn�st.Beaeficimr5► � � .
<br /> . murtgage.d e e d o f n u s t.s�u�It9 � �r a�somis Sene�ciarY as ateomeY m f�w � ' `
<br /> - may,without not�oe,perfomn fhe d�es or caase them tn be perfomne�l• �� ` `. _
<br /> If aa canst�uction on the PiapertY is disconiinued or 'k
<br />_ - sign,Troswr•s nam$or PaY an9 ffiaoum neo�a�lr f�P��Oe• y w mtecx B�neHcia�y's seauitY i�� �r,' . - .
<br />. . . • . nat carded an ia a reasona Ie manner.Benefisia�y m�Y�whatever is neoessarY P . . .
<br /> - . - ia the Pcopert9.'i2�is tm�►inciude comP1�S the o n n s t�n c�i on- :` . �::. '.
<br /> . ` '.. g�e&dazy's r�ght w perform for Trnswr shall�at cceaze an obligat�on w perfomi,and Beneficiary►'s failure to perfa� ,-
<br />: � � w�l nnt preclude Beuefic�atY f�om ex�sia8 anY���'s other ri�ts tmder the law or this 1Je�d of Trast.Auy . . - _
<br /> S P�� °r othenv�se Pm�g��P�Y•and BeneSc�at9's seauitY ''�' `,._;,
<br /> ` a��ts p a i d b y B�e f u a az y► for iasorin , �the date of the payment�m s i l p a�,i m f n l i a 2 t h e i n t e a e s K c a t c a► _ ".`..
<br /> . intesest w�l be dne on demand�d arW bear mte�est �` `'�.=;=
<br /> effPCt fmm ti�to t#me am��the ter�,of the Evide�oe af D�t �`�. �r:. .-
<br /> aIl the - ,._,:,: _ -
<br /> . .. 14.ASSIGNMEI�'�OF LEASF�S AND RL�-�i��er i��bly gtants.aon��aud seits as ad�onat se�rit9' -- __
<br />- ,. ��. �tght,6tle and intaest in and w aay si�..a3L �aad any other wriuen or verbal agceemeuta.for the use aAd ,.�
<br /> mta
<br /> or fatn�e leases,s�.�'..ses.gua�'� extensions.�ea►als.modi&cadoas oi sa6st�ioas of
<br /> � . A. o� of anyponian Q£�L�vpeAY, includmg aa!► ---
<br /> - -� ---� sa�agceemeats(aiI se��to as"I�eas�"). g�not limited to seauitq depostts•m�aeau. ,� Y'.
<br /> B. Itents,is�ues�Prufits(all tefetred w as°Reats�.inchsdin �, �g �rS�• � estate tas�es. #�sker .. : :-------.
<br /> ,.�.' . _ P��age t�tt, addidonal ieat, cammoa area maint� �S P �� ;`«V �'«.,
<br /> . eat, follow3ng def�it, P��
<br /> lic�ble taxes.instuanoe Piemium conuiibudans.liquidazed damaSes � •-'K,,,,••
<br /> con
<br />` ` 'l�o.ss of r�ts°insurmmce,reve�es,myalttes,Pra�s,6omnses.and aU rights aad claims whi�Tiascor may bave , .; ��
<br /> ..� , _ . � that in a�l�5►P��w or is an aa�ount of the ase e�occaPanc9 of tEae whole or auy Part of the Ptoperty. �_ .�..���-
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<br /> vide Be�elmry+with tme and cosrect coPies of aU e�sBng mW fnmre I.eases.Tn�stor may .L- �`-
<br /> .. � �. .,. . . �. Tnuiar w�l pmmptlY I� ���
<br /> '. `�y coIle�,�celve,enjoy aad use tfle Rents so long as Tioscor is not in s writoea��ent Pou�de�1t,Ttt�smr wi�ieceive _ �
<br /> :,, � :; '�� ' �
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<br /> � : .. ..� `•".:�, das�fotutE Iease PerFods.ualess Tmstor first o6tains B��with aaY other ftmds.A�►amo�ts c�� `::::. _
<br /> .. , > aay I�ts in tcust for Beaefidasq end Trastar w�l not� vlded,to aosts of maaagiJS$ : --
<br /> 's disc�ion to paymwts on t16re Se�ared Debt as thecein pr� the .'.=�=��.�
<br /> . .... ... .. ...
<br /> � . shall be applled at Eeneficiar�► , . '_
<br /> � .. prnpeity,inctadmg, but nat llmi t e d w, a A t a x e s, ass�.ssmems,�nsa�anc�e Premiw�s+ r�airs, and cammisatons to�tal :;�,�-
<br /> related expwses inctuding Benefdary's attoiaeYs'fees.Pa�a1�fees�d conri oosts. ---- .
<br /> ` . agents,aad w anq oWer neoasa�y► : _�._--
<br /> � . Tinswr ar��owledg�s that Wis a�signment is Perf�d upoa the recordi�,�of d�is De�of Trust and tLat B�cisiY is . •-•.��-
<br /> �. . .� entitled w aotiPy mty of Tnuwr's�w mahe papmx�'t of renfs.dus os to U�due w Beae�ciac�►. Aawever. ' ,
<br /> � Benefrt�Y aS�s�only on defanit will Bea�eficiatY n�►1Yusror and Traswr's tenaats and make dematt��aat a11 �
<br /> fatute Reats be pa�d directtY w B�e&cIary. On receivi�the notioe of defanit, Tiustor wlll endorse aud deE�r�r w � y..-, ::'„�
<br /> . . B�g�►�3►Payments of Reat m Trustor's poss�sion ::;�; � _�.�-
<br /> . _ � Tcustor wveaants that no default exista uaBer the Leases ar suy appl�cab2e 1anNord law.Tiastor alsm covenants r�d a�es `�..� �-
<br /> with,tl�Leases and any applicabte law.Tmswr�v1t pra�_�otify ��;;,� --
<br /> �, . . to m a i n t a i n,a a d w r e 4�r e the te�ants tn oomplY •:.. :.,
<br /> � ,r, � , geuEBciary of any llance.If Ttuswr negtects or refi�ses w enfoiceaampliance a v i t h t he t e r m s a f S i s I e�.t��n -
<br /> e II n���,8 o yt�on, enfasoe oamPli�ce. T�ustor wIll obtaia B�eficiary's �vret*xa authasi�atIan �,.�:-�,,.
<br /> _ � Beneficla�i► maY. at - �.�_
<br /> befoie Tcastor conseats to sablet.modifY.caucei.or otherailse a l t e r t h e L e a s e s.t o a c a e p t t h e s�e r o f t h e P c o P e t t�►
<br /> � � covet�ed bY sac�E.easas(uWess the I.eases so requtre).or to as�.��fmmis y and��.t�or damage that _ -- -_
<br /> � . R�ts.T�nstor�I hold Beaeflciaiy Haimlesa and lnd�nify thia secflon. "-_..�._._
<br />- .. 8��.�ciary�,�cur as a oonseqaeace of the assignmenc uader ;;.;,-�
<br /> �rk��.
<br />_ . 1S.C��IDOM�'IIIL�3S; PLANAiL+D UNIIT DEVO.OPMEN'�'S. If tIle Propert9 includes a unit ia a condoa�ni�ar a . .-
<br /> -` � . .. planned anit develapment,Trustor w�l perfom►aU of 7'�aswr's duties�er the aovenants.bylaws.or regulattoas of the : : .
<br />-- c a�d o m i n i u a n o r planned un�t development. -.'� .:,:'_
<br /> . . . 16.DEFAULT.Tmstor wiU be in defanit if any of t8e followiag occ�r: t when due: '�,�•` �.•
<br /> A. AnY P�Y obligazed on the Se�ured Debt falts to make paYmen ta�t e or an oonsWcHon loan agceemeat. ' !'' �` � .
<br /> . . B. A br�act�of aay term or cavenant in this Deed of'E'tast.aaS►p. s�or otheiwise relanng W the 5ecured . , .
<br /> � ' security agreement or any othes document evtdeucing,�uaraatY�e►S, '. . .
<br /> Debt; �'
<br /> :-�:� C. 'Ihe making o�fumish�B of any verbal or wtlttea�epresentatian,statement or wartanty W Be�eflciary tbat ia false , : ::..^:,,.- ..
<br /> or lncoaect in a�►Y ma2eiial respect by Ttnst°r or auy pe�son or entiry obligated aa the SectueA Debt; ,e•.c�:.
<br /> ;�,,;. .
<br /> Tnutor or any �...:;i,`,:;';.,• .
<br /> , �. 'fi�e d.eath.dlssoluttan. aPPolntrneat of a roceiver for,o:applic�tian of atry Ge'btor tellef law to, . '
<br /> <: . � ' peeso��or enary obligated ori the Secured Debt; � .'`` �
<br />- � � E. A gam8 faith belieY by Beneficlary at any time that Beneficiary is insea�re wlth respect tn any person or entity
<br /> -- � obligaaed on We 5ecUred Debt or tt�at the prospect of anY PaYmeat is ImPaired o:the pra�esty ls impaired: :
<br /> -� � F. A materlal adverse c�ange in TsuaWr's buslness including awneishtQ,manaSemeat,and financlal condiflons.ahich . : ..
<br /> � Beneficiary in its opinion beiieva impai�'s the valne of the Pmperty ur repaYment of the Se�ured Debi;or �
<br /> , .,,...,.�.
<br /> (i. An}r loan pmceeds are ased fur a purpase thai will wnuibute w eacessive erosion of lilghly erodible land or w the ;�,,,•,7'�
<br /> � conversion of aettands to produce an agricWtural commod�tY.as tiuther explaiaed ln 7 C.P.R.Part 1940,Subpart • . �
<br /> ' � G.Exlubit M. '
<br /> _= _ � � _. 1T.IiPdVfBDlES ON DEFAULT.In some instaaces,federai aad state law will�quiie BeaeRciary to provide T:ustor with ' , .
<br /> - � notioe of the right w care,medistion notices or other noflres aad may establish t�me achedules for forectosiue actions. .
<br /> Subject to these limitations, ii any, BeneBclary may aaxllerate the Secnred Debt aad iorectose tbis Deed of Trnst in a -� -- .-
<br /> �. � � � manaer provided by laar if tLis Ttnstor is in defautt. '� � �, ..
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<br />� , m 1993 BaN�an Systam�.lnc-.St.C�ud.MN 11�80039�-T30t I iorm A61CO�OTNE 9/1398 .' _' ..,
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