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200003642
<br />future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under aw
<br />missory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary execute(
<br />r this Security Instrument whether or not this Security Instrument is specifically referenced. If more than on(
<br />;on signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advance:
<br />future obligations that are given to or incurred by any one or more Trustor, or any one or more Trustor an(
<br />;rs. All future advances and other future obligations are secured by this Security Instrument even though all of
<br />may not yet be advanced. All future advances and other future obligations are secured as if made on the date o
<br />Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional o:
<br />re loans or advances in any amount. Any such commitment must be agreed to in a separate writing.
<br />obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, bu
<br />limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary.
<br />additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of thi:
<br />urity Instrument.
<br />Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right
<br />ENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
<br />if the Secured Debt and this Security Instrument.
<br />tANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />y Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br />rustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br />t SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />ynt that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br />,o make all payments when due and to perform or comply with all covenants.
<br />'o promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />lot to allow any modification or extension of, nor to request any future advances under any note or agreement
<br />ecured by the lien document without Beneficiay s prior written consent.
<br />4S AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />;, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiar}
<br />of all notices that such amounts are due and the receipts evidencing Trustor' s payment. Trustor will defend title to
<br />)perty against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to
<br />;iary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor
<br />trials to maintain or improve the Property.
<br />)N SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt tc
<br />iediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sal(
<br />Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This
<br />nt shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security
<br />lent is released.
<br />ERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition anc
<br />11 repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of
<br />)perty. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of th(
<br />ncy and use will not substantially change without Beneficiary' s prior written consent. Trustor will not permit any
<br />in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify
<br />;iary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
<br />;iary or Beneficiary s agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpos(
<br />)ecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying z
<br />ible purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiay s benefit and Trustor
<br />no way rely on Beneficiary's inspection.
<br />[ORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security
<br />vent, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary a
<br />,y in fact to sign Trustor' s name or pay any amount necessary for performance. Beneficiary's right to perform fo1
<br />r shall not create an obligation to perform, and Beneficiay s failure to perform will not preclude Beneficiary fron
<br />ling any of Beneficiay s other rights under the law or this Security Instrument. If any construction on the Property i
<br />tinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiay
<br />y interest in the Property, including completion of the construction.
<br />. NMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to Trustee, in trust for thl
<br />: of Beneficiary, as additional security all the right, title and interest in and to any and all existing or future leases
<br />;es, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including
<br />tensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases ") and rents, issue
<br />ofrts (all referred to as "Rents "). Trustor will promptly provide Beneficiary with true and correct copies of al
<br />g and future Leases. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not in default under
<br />ms of this Security Instrument.
<br />r acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is
<br />i to notify any of Trustor' s tenants to make payment of Rents due or to become due to Beneficiary. However
<br />ciary agrees that only on default will Beneficiary notify Trustor and Trustor' s tenants and make demand that al
<br />Rents be paid directly to Beneficiary. On receiving notice of default, Trustor will endorse and deliver to Beneficiary
<br />yment of Rents in Trustor's possession and will receive any Rents in trust for Beneficiary and will not commingle th
<br />with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Trustor warrant,
<br />default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees to maintain and requir,
<br />iant to comply with the terms of the Leases and applicable law.
<br />EHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with thl
<br />ions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or ,
<br />d unit development, Trustor will perform all of Trustor' s duties under the covenants, by -laws, or regulations of th
<br />ninium or planned unit development.
<br />HIM
<br />Bankers Systems, Inc., St. Cloud, MN (1- 800 - 397 -2341) Form RE -DT -NE 10/27/97
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