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*» 0 200102507 future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under nissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary execu r this Security Instrument whether or not this Security Instrument is specifically referenced. If more than c son signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advanl future obligations that are given to or incurred by any one or more Trustor, or any one or more Trustor -rs. All future advances and other future obligations are secured by this Security Instrument even though all may not yet be advanced. All filture advances and other future obligations are secured as if made on the date Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional re loans or advances in any amount. Any such commitment must be agreed to in a separate writing. obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, 1 limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary. additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protects Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of f arity Instrument. Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right ENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the if the Secured Debt and this Security Instrument. LANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by thi; y Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power o rustor also warrants that the Property is unencumbered, except for encumbrances of record. t SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lies ,nt that created a prior security interest or encumbrance on the Property, Trustor agrees: 7o make all payments when due and to perform or comply with all covenants. 'o promptly deliver to Beneficiary any notices that Trustor receives from the holder. Jot to allow any modification or extension of, nor to request any future advances under any note or agreemen ecured by the lien document without Beneficiay s prior written consent. ✓IS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents 1, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiar of all notices that such amounts are due and the receipts evidencing Trustor' s payment. Trustor will defend title ti )perty against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign b ;iary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labo . trials to maintain or improve the Property. SON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt tc be irmnediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sal of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Securit` Instrunent is released. 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition an( rm e 1 repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration o P operty. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the c up cy and use will not substantially change without Beneficiay s prior written consent. Trustor will not permit an3 ch g in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notif, Be e ciary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property. Be rief ciary or Beneficiary's agents may, at Beneficiary s option, enter the Property at any reasonable time for the purpoe of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying 1 reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trusto i 1 ii I no way rely on Beneficiary's inspection. 11. AIMIORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Securit; ent, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary a: tt rn y in fact to sign Trustor' s name or pay any amount necessary for performance. Beneficiay s right to perform for Thistor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary fron x ci 3ing any of Beneficiay s other rights under the law or this Security Instrument. If any construction on the Property i discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary'! j ser uri y interest in the Property, including completion of the construction. 12. ASSI4 3,NMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to Trustee, in trust for thl be iefi of Beneficiary, as additional security all the right, title and interest in and to any and all existing or future leases su )lea ses, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases ") and rents, issue an I ofits (all referred to as "Rents "). Trustor will promptly provide Beneficiary with true and correct copies of al x sting and future Leases. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not in default under h terms of this Security Instrument. TrJSt0r acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is enitled to notify any of Trustor' s tenants to make payment of Rents due or to become due to Beneficiary. However Beneficiary agrees that only on default will Beneficiary notify Trustor and Trustor' s tenants and make demand that al ful are Rents be paid directly to Beneficiary. On receiving notice of default, Trustor will endorse and deliver to Beneficiar} Ian r payment of Rents in Trustor' s possession and will receive any Rents in trust for Beneficiary and will not commingle thr is with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Trustor warrant: h t n default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees to maintain and requir an r tenant to comply with the terms of the Leases and applicable law. 13. LE A EIIOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS, Trustor agrees to comply with th, i vi ions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or 1 unit development, Trustor will perform all of Trustor' s duties under the covenants, by -laws, or regulations of thl condo 'nium or planned unit development. G� (page 2 of Bmkers Systems, Inc., St. Cloud, MN (1- 800397 -2341) Form RE -DT -NE 10/27(97 I