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� 200 �U � 276 <br /> 8. CLAIMS AGAINST TITLE. Trustor will pay all tases, assessments, liens, encumbrances, lease payments, ground rents, <br /> utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary <br /> copies 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 agrees to assign to <br /> Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor <br /> or matenals to maintain or improve the Property. <br /> 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary 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 or <br /> sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This <br /> covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security <br /> Instrument is released. <br /> 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition <br /> and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or <br /> deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the <br /> nature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not <br /> permit any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will <br /> notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the <br /> Property. <br /> Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose <br /> of inspecting the Property. Beneficiary shall give Trustor 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 Beneficiary's benefit and <br /> Trustor will in no way rely on Beneficiary's inspection. <br /> 11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security <br /> Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as <br /> attorney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary's right to perform for <br /> Trustor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from <br /> exercising any of Beneficiary's other rights under the law or this Security Instrument. If any construction on the Property <br /> is disconunued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's <br /> security interest in the Property, including completion of the construction. <br /> 12. ASSIGNMENT OF LEASES AND RENTS. Trustor inevocably grants, conveys and sells to Trustee, in trust for the <br /> beneFit of Beneficiary, as additional security all the right, tide and interest in and to any and all existing or future leases, <br /> subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including <br /> any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases") and rents, issues <br /> and �rofits (all referred to as "Rents"). Trustor will promptly provide Beneficiary with true and conect copies of all <br /> existing and future Leases. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not in default under <br /> the terms of this Security Instrument. <br /> Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is <br /> entitled to notify any of Trustor's tenants to make payment of Rents due or to become due to Beneficiary. However, <br /> Beneficiary agrees that only on default will Beneficiary notify Trustor and Trustor's tenants and make demand that all <br /> future Rents be paid directly to Beneficiary. On receiving notice of default, Trustor will endorse and deliver to Beneficiary <br /> any payment of Rents in Trustor's possession and will receive any Rents in trust for Beneficiary and will not commingle <br /> the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Trustor <br /> warrants that no default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees to maintain and <br /> require any tenant to comply with the terms of the I.eases and applicable law. <br /> 13. LEASEHOLDS; CONDOMIl�TIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the <br /> provisions of any lease if this Security Instnunent is on a leasehold. If the Property includes a unit in a condominium or a <br /> planned unit development, Trustor will perform a11 of Trustor's duties under the covenants, by-laws, or regulations of the <br /> condominium or planned unit development. <br /> 14. DEFAULT. Trustor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trustor <br /> will be in default if a breach occurs under the terms of this Security Instrument or any other document executed for the <br /> purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any <br /> Ume is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or <br /> the value of the Property is impaired shall also constitute an event of default. <br /> �,,_] 15- 8-090 (1 1/97) (page 3 of 61 <br /> IAf <br /> �01994 Bankers Sys[ems,Inc.,St.Cloud,MN Form GTH-MTGLAZNE 1/8/98 <br />