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<br /> $.l�3 ntttttz� �I3II �."�tti�t:t fltbES " 1�1i n �T�t9�t42 Sg�ganef_t_ci_a_T�+aJtdel-SIIIt► � _
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<br /> 'V . prami� not�'oont�ct, �a�s�y,or oih�evid�oe of debt�ecut �gr Teustor ia favor of B�ciary ei�`�ttPd
<br /> ' ' a ft e r t h i s�e c u ri t y�j n s t c m n r n t g h�r gr e
<br /> o r n o t c h i s-S e�v t i t Y I m�t is s p�ll y refar�. If more tbaa oae �
<br /> t,_.r�-°� 9: �.', peisun sigas tbis Ss�ity.Inst�s, ear�t Tmstor agtees tkat tbis Seearity Instctmient will secur� a l l f u t�e ----_-,'��
<br /> ar�i
<br /> - :,;-; ` aeiva¢ces aad ti�.ime obliga�ons thai are giv�to or iacma�d#y�y o a e o r m o r e T i u s ro r,o r any o n e o r ffi o r e'1 Y a s t o r . . ..,<
<br /> � , _< �[d o&ers.All future ffiv�oes and other fut�al�ligadons aie secared1�y tiris Se�rity Iastzument even thaugh al! ���-'°��.
<br /> �- , • <:f . or pa�rt map uaty�b�advaaced.AI15rtm�e advaacc�and other i�wre obli�ations are se�ca�red as if made on the date .
<br /> . . ° of t�[s Secaritq Iastr�eai.NotD'nng in tl�s Sec�aity Yn�shalt t�nsttwte a commim�t to make additi�aal or � :�`
<br /> . <; fia4ueloans or advaares ia any��mt.Aay siu3t oammiuneni mnst be��d w m a separate aniting.w • �
<br /> '"��� C.All obli�tions Tmstor o�res to Beasfcia:y,which may later arise,to tTie extent aot proh�lsited by la .includinS ..
<br /> .— �--�- bgi noi l�ited w. liabilities for ave�dra8s celasmg tn aay deposIi acro�t ag�+eement Detweea Troswr aas� r :
<br /> 'ik ;�; . ,
<br /> , . � D.���ad�d"�t�analand its vatae a�d aay oifiea sams ativanoe����inc,�by Beaefr��under the te�s o� � ;
<br /> ' S nty Instrameni. . � �.; :f,..:.
<br /> . i" . "'S ' . ..
<br /> , . � . - . This Secarity tns�nt anU aot s�any other debt if Beneficiary fails to give any reqnited norioe of the r�ght of
<br /> 'i` tescission. , _ �,,��'..
<br /> .�.,;'` _ .:. � 5. PAVI4�NTS.Tnistor��thai aii payments under-the S�Debt w�l be paid�due aud in aa:osdanee wit�►the . ::�'N
<br /> ,. `; � tem�s of ths Secuced D�i 8IId this S Insht�ment.� , _
<br /> , . , em s ��Y F_<�:'����-°-
<br /> ,`' <; 6. �ItARRANTY OF TI17.E.Tmstor wanants that T:astos is or ws�l be IawfalIq seized of tbe estate csaaveyed by tbis ;"i` �
<br /> -...,. ,� .., Sec�ty Insor�am�has the right to irrevocably graa�comrey;aad seU the Yrogerty to Ti�astee,ia tcust,witL gower of . �j, -
<br /> . .��,•a sate.T=ostor also warianss th�the Fivpezty is m�enc�bered,excePt for encambr�mces of record. . - :
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<br /> � f�d` � �: PRIOR�It�P1'�l'S.With regard w,sap olher ,deed of uost,security a�ceement os ottier tlea �
<br /> 'r�y;,�.: dflc�ment thaz crear,e�i a prfor sec�itV interesc or�awmbrance oh the e ezty,'Fmswr agree.a: ; = .:
<br /> 4'��., E A.To make all ga�s wken due aad w perfoxtt►otoompiy arith all cavenants. _,
<br /> `� ����..� B.To gtomptiy de3iver to Beneflc�acy any notic�that Tmstor�ceives from the hotder: . �'` '�`-�'
<br /> ' � C.1�Tot to al[ow mfldificatian or extension of;nor w reg�est atry fntt�e ad�►a��mder anY note or agee�ent ,F�`` _
<br /> �1�-��t �� �Y eem
<br /> . :.t.'.,>� the lien docuurent witbuui Beneficiary's prIor vurnten.oonsent. � . .
<br /> � �' r �� 8. CLAIl�+18 AGA�IITS'�TTI"�E.1Yustas w�l pay all taxes,assessraeni�s,s liens.�,Iease payatenis.Smaaa rents, . .
<br /> .�.�j�.�� �(� �pQo �{.� �ireTmstor to ptovide to Beaeficlary � ,�': f `;`
<br /> - . . 'Y " . fiY�WG��LYY O��b�'��ii�LLCG gI0p2Ityt�IC EC2 • BCII�IIC181Y�Y .
<br />_ . .`' � , oagfes of all aatice�s�hat sacb amouars ate dae artd ipts evidencing TYuswr�s payme�a.'i'avstor w�deYend�tittg w �,a..�,.�, '-
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<br /> °^" . . • .., B e erty � claims tha�wonld impair th$ IIeu of tbis 5�ty Insuumeat. 1Yastor.ag� to assign w .,,;;.�__
<br /> < '�x= �a�y .c l a i�o r d e f e n s e s T i v s W r m a y h a v e a g,�i n s t p a r d e s who,s a p g l Y7abqr :; :�
<br /> . � �im�,'�en�en t'a s'� bx Beneflciary,�rtg�ts . .
<br /> .•;:,:,� � os w ma�atam aT 3mprove the . . � ;��.-.
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<br /> � 9. DYJL+�N�ALE OIP ENCUMBRANCE.Benefic�aiy map,at its tion,deela�e[Ite endce balaate of the 3ccured Debt w � ;
<br /> -�t
<br /> be in�mediateiy due andpayab2e upoa the cceation of,or contiact�or the cre�ar►of, any lien.enaimbraace.ttansfer or . .,
<br /> , � � eale of the properry. 71us� rip�,t is subject to the re�rit�ons imposed by federal!aw(12 C:F.R.591).asappIic�ble.This �
<br /> covenant shall nm with theproperty aud shall reanaia ia effect u�W the Secu�red Debt is gaid in fnll and this Security ,.'y " -
<br /> .'. • . Iasuwmeat is re2eased. � . �" -
<br /> � . � 10.P�tOP'�'dlT1f COIVDITION,ALTEEA'ITONS AND.ENSQEC.°i'ION.1Ynstor will keep the Property in good conditfon �,�;��'
<br /> • � and make ali ai=s that are reasonab�iy neces TtUBtOr SI12�I QOt COD11rilt 0i BllflW SUj/ W85t8. �airmeat+ or ,r�-.-:.
<br /> : ' detc�Iaradoa of�e Propercy.'IYustor will keep th�aperty free of nnaious we�s and grasses. 'Pcuswr agrees tl�at ttie ��;;,;:,.::�
<br /> '. .. . nature af the occupancy ' 'r��'''
<br /> aaQ use wUl uoi substantially c3�ge without Benef s prior wriuen consent.Tcustor�vill not �
<br /> � '_;,`�',. petmit aay change fn auy lacense,resuictive covenant or easement wtthuut B 's pr�or wriuen canseut.Trustor wU} -�;..� ��.�.
<br /> ;' �,, � _ notify Benefrciary of aU demaads, proc�edings. claims. sad acttons against 7Yustor, and of any loss vr damage w the :�i,. ;�i:•
<br /> ���• f�y y.
<br /> L ''��~,.'.� or BeneBcIary's ag ents may.at Beneficiary's opflon,eater the Property ai any reasoaat�le time for the os� � ��`��
<br /> _ .. ..� .. , •. oBf��p�ng t�e pt,ope�ty. AeaeBciary shaU give Trustar notfoe at the time of or before aa ;nspoction sp�ng a f ==
<br />-_ . reasonable pwpose for tIh�i��� A8Y insp�oa of the Property shaU be entirely for Hcae�iclary's beae t mW �. ,, ._�_;_
<br /> � . Trastoz wN in no v�ay m y B �Y' � .:,,e:-;.
<br /> �• . , li. AUTIIORITY 1'O PERFORA�d.If Tnistor fails to perfoim any duty or aay of the covenants coatafined in this S�c�uity - - �
<br />-= RAd
<br /> . . inst�ent. Beneficiary raay, without notice, Perfosm o:canse the�n to be erformed. Trustor a�points BeneficIary as : -
<br />�,;' .. � " a t t u m e y i n f a c t t o s i g n T r a s t o�s n a m e o r p a y a�s y a m n u n t n e c e�s s a ry for g e r t oimaace.Beaeficl a r y a ri g ht to perfoim for: . -
<br /> T t u s tos s h a 1 1 not create aa obli g a t toa to perform,aad Beneficia�y s failure w perfosm will nat pseclude.B e c e ficIary from .
<br /> � ::. ' . .. exerclsi�g aay oY Beneficiary's other rigbte u n d�r t he l aw or t 1�a S e c n r ity I n s tr u m e n t.I Y any e o n s K U C t i o n o n t h e P r o�erty. _
<br />� . . is discontinaed or aot carrled on ln a reasonable manner,BeneSctary may take ail steps necessary w pmte�t Beneficiarry s _--..
<br />- � �'.,: ��. security lnterest in t&e Property.i n c l a d I ng c omple@on of 4he eonstruction.
<br /> � � � i2. ASSIGIVMENT OF LEASES A1VD REN�S.Trustor irrevocably grants, conveys aad sella to Trustee, in mist for the � :
<br /> . ' �. benefit of Henet3ciazy.as additionat sectulty aU the rIgiit.dtIe and�ntereat In aud w any and all existing or future teases, .
<br />__ ., . . subleases,and any othet wtltten or verbal a�eements for the use and uccttpaa�y of sity ortion of the Property.including . .
<br /> � ���`;,.:ti any emensions,reaewata. madiftcat�ans or substituflons of s¢ch agreements(all ref�t4 as°Leases°)and rents.issues . .
<br /> andproflts (aU refernd to as "Rents"). Tcustor wi11 prompdy�rotrtde BeneSciaty wit�tsue and co�z�ct copies of aU
<br /> . �"� . existing aud t1�ture I.eases.7'n�stor may colIect,receive,enJoy an use the Rents so iong as Tmstor is aot in default nnder
<br /> ' the tern�of thts Securiry Instrument.
<br /> � . . Trustor acknowledges that thls assignment Is perfected upon the recording of thls Deecl of Tn�st and that Benefcclary is ' �
<br /> � endUed to noNfy azry of Tmstor's teaants to make payment of Rents due or w become due to Henefrciary. However ..
<br /> - BeneBciary ag�a that only on defauit wUl BeneSc�ary aodfy Trustor an8 Trustor's teaaats and make demaad that al� .
<br /> • � �. future Rents tie paid directly to Beaeficiary.On rereiving nodce of default,Trustor will eadarse and deliver to SeneS �-�
<br /> � - . � an pa t ofZtente in 7`mstor's possesslon and wUi rereive any Rents ln rivst for Beneficiary and wlll apt co ;
<br />- �.;�!;,� � the Ren�with�y other funds.Any amounts couected wlll beappl�ed as provided in th�s Securlty Ins�ment.T�stOz
<br /> - , warrants that no defanit exists under the Leases or any applicable Iandlord/tea�wt law.Trustor a�so agrees to maintain an�, .
<br /> � � � ' . require a�+teaant to wmpty with the terms of the lr.ases aad appl�cable law. _
<br /> r� .
<br /> , � . 13. d.EASEHOLDS3 CONDONllNNP�'.bIS; PLAIVNED iJNIT DEdELOPMENTS. Tin�'n3 agrees to comply vv�th We�. .
<br /> � • ' provisions of any lease if tl�s Se�usfty Instrument�S on a leasehold.If the Propeny inclu�a nnit in a condomiaium o:a", .
<br /> . .. planned unit development,Tiustos w3ll perform all of Trustor's duties under tHe covenants,by-lawa.or regutations of th��
<br /> condommium or plaaned tinit developaunt. �
<br /> � . IPage 2 of 41 '
<br /> ��� � ' � 07894CaNaraSy9mmf,inc..ScCtauO.MN ItECG397-23411 FormREOTdJE 1223,'�38 �
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