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<br />:�a•�± B. All futurc advances from I.c:ndcr to Grantor or athcr futurc abligations of Grantor to Lt;ndcr undcr any promissory �_:.
<br />-_;;kM• note,contract,suaranty,or other evidence ot debt exccuted by Grantor in favar of Lcnder executed attcr this _
<br /> Seeurity Instrument whether or not this Seeurity Instrument is rpecifically r�fereneed. If mc�re than one per�on
<br /> signs this Security Instrument,cach Grantor agrecs that this Security Instrumcnt will secure all futurw advances and
<br /> . .•••' ;i, futwe obligations that are given to or incuned by any one or mc�rc Grantor.or any une or more Grantor and
<br />������ others. All future advances and other future obligations ere secured by this Securiry Instrument even though ull or
<br />_��..Q•� part may not yct t�c advanwd.All futurc advances and uther future obligations are secured i�.s if made on thc date �
<br /> _ , of this Securlty Instntment.NothIng in this Security Instrument shall constttute a commitment ta make additional
<br /> _°=�+� � or future loans or advAnces in any amount.Any such commitment must be agrceu to in a separate writing.
<br /> C. All obligatlons Grantor owes to Lender,whlch may later arise,to the extent not prohibited by law,including,but
<br /> -.�yx ��' not limited ta,liabilities for overdrafts relating to any deposit account agreement betwecn Grantor and L.c:nder.
<br /> D. All additional sums advanced and expenses incurred by Lender for insuring,prescrving or oth�rwise protccting
<br /> �%µ�- the Property and its value and any other sums advanced and expenses incurred by I,ender under the teims af
<br /> ``� thisSecwity Instrument.
<br />`S.�q, ,
<br />`�:'�� This Security Instrument wiA not secure any ather debt if I.ender fails to give any requlred notice of the right of rescission.
<br />-"'�fi �,� 5. PAYMENfS.Grantor agrees that all payments under the Secured Debt will be paid when due �nd in accordance
<br />�'`�.,�.,�`�� with the ter►ns of the Secured Debt and this Security Instrument.
<br /> "� 6. WARRANCY OF TITLE.Grantor warrants that Grantor is or will be lawfully seized of the estate conveyed by this
<br /> _ �^� Securiry Instrument and has the right to irrevucably grant,convey,and sell the Property to Trustee, in trust, with
<br /> _ =_� power of selc.Grantor also warcants that the Property is unencumbered,except for encumbrances of record. i
<br /> - ��� 7. PRIOR SECURITY IIVTEREST3.With rcgard to any other martgage,deed of trust,security agreement 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 and to pedorm or comply with all covenants.
<br /> B. To promptly deliver to Lender any notices that Grantor receives from the holder.
<br /> ""?�'� C. [�Tat to aUow any modification or extension of,nor to request any future advances under any note or agreement
<br /> secured by the lien document without Lender's prior written wnsent.
<br /> S. CLAIlVIS AGAIIVST TITLE.Grantor will pay all taxes, assessments, liens,encumbrances,lease payments,ground
<br /> __ rents,utilities,and other charges relating to the Propcity when due.Lender may require Grantor to provide to Lender
<br /> - .i,; copies af all notices that such amounts are due and the receipts evidencing Grantor's payment.Grantor will defend
<br /> title to the Property against any claims that would impair the lien of this Security Instrument.Grantor agrees to assign
<br /> to Lender.as requested by Lender,any rights,claims or defenscs Grantor may have against parties who supply labor
<br />�� or materials to maintain or improve the Property.
<br /> 9. DUE ON SALE OR ENCUMBItANCE.Lender may,at its option,declare the entire balance of the Secured Debt to
<br /> -�� be immediately due and payable upon the creation of,or contract for the creation of,any lien,encumbrance,transfer
<br /> � or sale of the Property.Thls right is subject ta the restrictions imposed by federal law(12 C.F.R.591).as appGcable.
<br /> This covenant shall run with the Property and shall remain in effect unt�l the Secured Debt is pa3d in full and this
<br /> Securiry Instrument is released.
<br /> 10. PROPERTY CONDITION,ALTERATIONS AND INSPECTION. Grantor will keep the Property in good
<br /> condition and make all repairs that are reasonably necessary. Grantor shall not commit or allow any waste.
<br /> _ impairment, or deterioration of the Property. Grantor will keep the Properry free of noxious weeds and grasses.
<br /> Grantor agrees that the nature of the occupancy and use will not substantially changc without Lender's prior written
<br /> wnsent.(lrantor will not permit any change in any license,restrictive covenant or casement without Lender's prior
<br /> writtea consent. Grantor will notify I.ender of all demands,proceedings,claims,and actiuns against Grantar,and of
<br /> any loss or daraage to the Property.
<br /> Lender or Lender's agcnts may.at Lcnder's option,enter the Property at any reasonable time for the purpose of
<br /> inspecting the Property. Lender shall give Grantor notice at the time of or before an inspectlon specifying a
<br /> reasonable purpose for the inspection. /�ny inspection of the Property shall be entlrely for L.ender's bene�t and
<br /> — Grantor will in no way rely on Lender's inspection.
<br /> 11. ALI'f'HORTI'Y TO pCRFORM.If Grantor fails to perfornn any duty or any of the covenants contained in this
<br /> � Secwity lnstrument,Lender may,without notice,perform or cause them to be performed.Grantor appoints Lender
<br /> as attorney in fact to sign Grantor's name or pay any amount necessary for performance.Lender's riglit to perform for
<br /> -- Grantor shall not create an obligation to perform,and I.ender's failure to perform will not preclude Lender from
<br /> — excrcising any of I.ender's other rights under thc law or this Security Instrument.If any construction on the Property is
<br /> = dlscontinued or not carried on in a reasonablc manner,Lender may take all steps neccssary to protect Lender's
<br /> security interest in the Property,including completion of the construction.
<br /> --�==� 12. ASSIGNM�NT OF LF,ASES AND ItE1VTS.Grantor irrcvocably grants,conveys and sells to Trustee.in trust for the
<br /> �•��� beneGt of Lender,as additional security all tk�e right,title and intcrest in and to any and all existing or futurc leases,
<br /> ����'� subleases,and uny other written or verbal agrecments for the usc and occupancy of any portion of the Property,
<br />::�k�� includingany extensions,renewals,modifications or substitutions uf such agrcements(all referred to as"Leases')and
<br /> � — rents,issues and profits(all refened to as"Rents").Grantor will promptly provide Lender with true and conect
<br />'�-��; copies ofall existing and future Leases.Grantor may collect,receive,enjoy and use the Rents so long as Grantor is not
<br />::�;;,;;' : in default under tlie tcrms of this Security Instrumcnt.
<br />=:. ;rv,, Grantor acknowledgcs that this assignment is perfected upon the recording of this Dced of Trust and that Lender is
<br /> '" cntiticd to notify any of Grantor's tenants to make payment of Rents due or to bccomc duc to Lender. However,
<br /> Lender agrees that only on default will Lcnder notify Grantor and Grantor's tenants and make demand that all futurc
<br /> -. ` � Rents be paid directly to Lender. On recciving notice ot default,Grantor will endorse and deliver to Lender any
<br /> �� pavment of Rents in Grantor's posses�ion and will rcccivc any Rents in trust for I.endcr and will not commingle the
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<br /> Y��""'�" Rents with any olhc:r funds. Any amounts colt�ctcd wtti be appiicd as providcu in ini�Sccu�iiy C��su�a��a�..�.u:.;�:
<br /> � •.� warrants that no deiault exists unJcr the I.cxscs or any applicablr landlard/tenant la�v.Grantor also ugrces to maintain
<br /> . s.�� and requirc any tcnant!o comply with thc tcrms of thc La;ascs and applicablc law.
<br /> '' � 13. LEASEHOLDS;CONDOMiNIUMS; PLANNC:D UN1T DEVE�.OPMENTS.Gruntor abrccs to comply with thc
<br /> ' • provisions of any lease if this Sccurity Instrument is on a Icasehuld.If the Property includcs�i unit in a condominium _-
<br /> ur a planned unit dcvclopmcnt,Gr.intc�r will perWrm all of Grantor's dutics undcr thc crncnants, by-laws,or
<br /> � regulations of the condominium or planncd unit develupmcnt. _
<br /> 14. DEFAULT.Grantor will be in default if any party obligatcd on the 5ccurcd Dcbt fails to makc payment when due.
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<br /> Grantor will be in default if.� brc.�ch occun undcr thr tcrms o[this Security Instrumcnt ur any other documcnt
<br /> , . . _ ;� (PBge 2 of 4)
<br /> �1B918ankenSyatema.Inc.51 CiouO.MN 11�800�991•2311)FamHE-0T•NE 8/8'W
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