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<br /> :� 97 �LC,95'�'� ---
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<br />"��'' B. All futurc advnncrs from Lendcr to Grantar or othcr tuutrc oi�ligations af Grantor ta l.cndcr undcr uny pranissory �;;_
<br /> 'Ft� notc,contract, guarunty,or othcr evidcncc af dcbt cxccuted by Gruntor in fnvor of Lc:nder exccutcd aftcr this �ti
<br />- Security lnstrument whcther or not this Secur,ry Instrument is specifically rcfcrenced. If mor� tnan onc person =_
<br /> �,', signs this Sccuriry Inwtrumcnt,each Grantor egrces that this Sccurtty Instrument wiU sccurc aU tuture advanccs and _
<br /> futurc obligations thnt are given to Ar incuned by uny one or morc Grantnr,or any onc or morc Grantor und �
<br /> � others.All[uture advances and other futurc nbligations are securcd by this Sccurity Instrument even though all or �
<br /> -'� pnr may not yet be advanced.All futurc udvancvs and uthur futurc obligaGons are secured as if made on the datc c
<br /> .-.� of this Securiry Instrument.Nothing in thls Sccurity Instrument shall constitute a cammitment to make addidonal
<br /> or future louns or advunces in any amount.Any such commitment must be agrecd ta in a separate writing,
<br />� C. All abligations C3rantor owes to Lender,which may later arise,to thc cxtent not prohibited by law,including,but
<br /> •'= not limitcd to,liabilitles for overdrafts rclating to any deposit account agreement betwcen Grantor and I.ender.
<br />,•`�?� D. All additional sums advanc4d und expenses incurred by I.ender for insuring,preserving or othcrwise protecting
<br /> __A� thc Pruperty and its valuc and any othcr sum�advanced and expenses incurred by Lender under the tcrms of i
<br />:,_,,� this Sccurity Instrument.
<br /> ,..� This Security Instrument will not sccurc any other debt if L.endcr fails to give any required notice of the right of rescission.
<br /> S. PAYMENTS.Grantor agrees that all payments under the Secured Dcbt will be paid when due and in accordance
<br />�''� with the terms of the Secured Debt und this Security Instrument.
<br />��s 6. WARRAN'I'Y OF'I7TLE.Grantor wanants that Grantor is or will be ]nwfully seized of thc cstate conveyed by this
<br /> ���� Security Instrument und has thc right to irrevocably grant, convey,and sell the Property to Trustee,in trust,with
<br /> —� power of sale.Grnntar also warranu that the Prupecty is unencumbeted.except for er+cumbrances of record _
<br /> � 7. PRIOR SECURTfY i1VTERESTS.With regard to any other mortgage.deed of trust.security agreement or other lien
<br />_w;� document that created a prior security interest or encumbrance on the Property.Grantor agrees:
<br /> _- A. '1'o make aU payments when due and to perform or comply with all covenants.
<br /> B. To promptly deliver to I.ender any notices that Grantor receives from the holder.
<br /> C. Not to allow any modification or extension of,nor to request any future advances under any notc or agreement
<br /> � secured by the lien document without L.ender's prior written consent.
<br /> 8. CLAIMS AG:�INST TITLE.Grantor will pay all taxes,assessments. liens,encumbrances,leasc payments,ground
<br /> -- rents,utilitics,artd other charges rclating to the Property when due.Lender may requirc GrAntor to providc to Lender
<br /> cop[es of 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 Lr:ndcr,as rct�ncstcr!h}Lendsr,sn;righis,cl?�mc or defenses Grantor may have against parties who supply labor
<br /> or materials to maintain or improve thc Property.
<br /> 9. DUE ON SALE OR ENCUMBRANCE.Lender may.at iu option,declare the endre balance of.the Secured Debt to
<br /> be immediately due and payable upon thc creation�f,or contract for thc ceeation of,any lien,encumbrance,transfer
<br /> or salc of tfne Property.This right is subject to the restrictions imposed by federal law(12 C.F.R.591),as applicable.
<br /> This covenant shall run with the Property and shall remain in effect until the Secured Debt is pald in ful{and this
<br /> Security 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 /> impuirment,or deterioration of the Property.Grantor will keep thc Property free of noxious weeds and�rasses.
<br /> Grantor agrees that the nature of the occupancy and use wip not substantiaUy change without Lender's prior wrttten
<br /> cons�:nt.Grantor will not permit any changc in any license.restrictive covenant or easement without L.ender's prior
<br /> � written consent.Grantor will notify Lender of ail demands,proceedings,claims,and actions against Grantor,and of
<br /> any lo�s or damagc to thc Property. .
<br /> Lender or Lender's agents may,at Lender'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 inspection specifying a
<br /> reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Lender's benefit and
<br /> Grantor will in no way rely on Lender's inspection.
<br /> 11. AUTHOItITY TO PERFORM.If Grantor fails to perform any duty or any of the covenants contained in this
<br /> � Security Instrument,L.ender may,without natice.perform or causc thcm to be performed.Grantor appoints I.ender
<br /> as attomey in fact to sign Grnntor's name or pay any amount necessary for performance.Lender's right to perform for
<br /> _—. Grantor shall not create an obligation to perform,and L.ender's failure to perform will not preclude Y.ender from
<br /> cxercising any of Lender's other rights under the law or this Security Instrument.If any construction on the Property is
<br /> -- discontinued or not carried on in a reasonablc manncr. L,ender may take all steps nece,sary to protect Lender's
<br /> security intetest in the Propefty.including completion of the construction.
<br />--- 12. ASSIGNMENT OF LEASES AND RENTS.Grantor inevocab(y grants,conveys and sells to Trustec,in trust for thc
<br /> ----- benefit of I.ender,as additional sccudty all the right,title and interest in and to any and all existing or future leases.
<br /> �:-�_.�e.� subleases, and any other written or verbal agreemcnts for thc use and occupancy of any ponion of the Property.
<br />=�.��• including any extensions,renewals,modiGcations or substitutions oF such agrecmcnts(all referred to as•`I.cases")and
<br /> �^��n: rents,issues and profits(all referred to as ••Rents"). Grantor will promptly provide Lender with trur:and conect
<br /> ':S:'s�;:. copies of all existing and future I.eases.Grantor may collect,receive,enjoy and use the Rents so long as Grantor is not
<br /> �':>•:� in default under the terms of this Sccurity Instrument.
<br /> `,,y,i.`• Grantor acknowledges that this assignment is perfceted upon thc recording of this Dced of Trust and that L.endcr is
<br /> . entitled to notify any of Grantor's tcnants to makc payment of Rents due or to bccomc due tv Lcnder.However,
<br /> Lendcr agecs that only on default will I.ender r.otify Grantor and Grantor's tenants and makc demand that all futurc
<br /> ~�- Rents he paid directly to Lender. On receiving noticc of dcfault,Grantor will cndorsc and dcliver to Lendc� any
<br />=M��r �.,� ..f D.�nte :�[:ronlnr'c„�,«����n�nd will reccivc any Rents in trust for Lcndcr and will not comminglc the
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<br />°- Rcnts with any other tunds.Any amounts collected wiU be applicd as provided in this Secunry instrumenc. urani�r
<br /> warrants that no default cxists under the L,cases or any applicable landlord/tcnant law.Grantor also agrecs la maintain
<br /> .,, �� and requirc any tcnant to comply with thc tcrms uf thc Lcascs and applicahle law.
<br /> .,,� 13. I.EASEHOLDS;CONDOMINIUMS; PLANNEU UNIT DEVELOPMEN'1'S.Grantor agrees to coniply with the
<br /> provisions ot any lcase if this Security Instrumcnt is on a Icasehold. If thc Property includcs a unit in a cundominium
<br /> • or a planned unit dcvclopmcnt. Grantor will perform all of Grnntor's dutics undcr tlic covcnants,by-laws,or
<br /> . regulatinns of the condominium or planned unit devclopment.
<br /> • 14. DEE'AULT.Grantor will he in dcfault if any party obli�ated on thc Securcd Debt fails to makc paymcnt when duc.
<br /> ,f . Grantur will bc in dcfault it a hrcuch occun under thc tcrms af thi,Sccurity Instrument or hny othcr documcnt
<br /> ' , (page 2 of 4)
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<br /> 9 t99a Bankere SyMane.uic.SI C�ouO.MN ItA0pJ97•23�t)Form RE-OT�NE BIN'94
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