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<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary execute
<br />pafter this Security Instrument whether or not this Security Instrument is specifically referenced. If more than on
<br />erson signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances
<br />and future obligations that are given to or incurred by any one or more Trustor, or any one or more Trustor an
<br />bothers. All future advances and other future obligations are secured by this Security Instrument even though all or
<br />Part may not yet be advanced. All future advances and other future obligations are secured as if made on the date o�
<br />his Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or
<br />future loans or advances in any amount. Any such commitment must be agreed to in a separate writing.
<br />C All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, but
<br />of limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary.
<br />D. 11 additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting',
<br />!the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br />Security Instrument.
<br />t ecurity Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of
<br />e cis ion.
<br />5. p NTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
<br />ke�ns f the Secured Debt and this Security Instrument.
<br />6. �V#1RZANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br />Salle. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. RIO SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />o� ent that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br />A. o make all payments when due and to perform or comply with all covenants.
<br />B. o promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />IC. ;riot to allow any modification or extension of, nor to request any future advances under any note or agreemen�
<br />!secured by the lien document without Beneficiary's prior written consent.
<br />8. CILA S AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,!,
<br />�utiliti s, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary'
<br />co 1e of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to
<br />th P operty against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to
<br />Benef ciary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor
<br />or ma trials to maintain or improve the Property.
<br />I. D E ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />�belim nediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale
<br />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 and
<br />rm e all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of
<br />the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the
<br />oc up incy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any
<br />h g in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify
<br />Benef ciary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
<br />Bye iciary 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 />e o able purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trust4
<br />reasonable
<br />wi
<br />will ir I 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 />nstrument, 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 />Triistor 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 is
<br />!discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary' sl
<br />security interest in the Property, including completion of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to Trustee, in trust for the
<br />bepefi t of Beneficiary, as additional security all the right, title and interest in and to any and all existing or future leases,
<br />subleaa�sses, and any other written or verbal agreements for the use and occupancy of any portion of the Property, includin
<br />an e$ tensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases ") and rents, issue
<br />rani profits (all referred to as "Rents "). Trustor will promptly provide Beneficiary with true and correct copies of all
<br />ex.stiq 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 />Tr stor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is,
<br />en�itleid to notify any of Trustor's tenants to make payment of Rents due or to become due to Beneficiary. However,',
<br />eficiary 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 the
<br />Rents,with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Trustor warrants
<br />that no default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees to maintain and require
<br />an. tenant to comply with the terms of the Leases and applicable law.
<br />13. LZA EHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the
<br />provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or E�
<br />;planned unit development, Trustor will perform all of Trustor's duties under the covenants, by -laws, or regulations of the ,
<br />condominium or planned unit development.
<br />0 1994 Bankers Systems, Inc., S1. Cloud, MN (1 -800- 397 -2341) Form RE -DT -NE
<br />4M.PI G J(NE1 (9808)
<br />(page 2 of 4)
<br />10/27/97 ��
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