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200104821 B. 11 future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under an promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary execute after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than on person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances d future obligations that are given to or incurred by any one or more Trustor, or any one or more Trustor an others. All future advances and other future obligations are secured by this Security Instrument even though all or art may not yet be advanced. All future advances and other future obligations are secured as if made on the date o this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional o !future loans or advances in any amount. Any such commitment must be agreed to in a separate writing. IC. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, bu hot limited to, liabilities for overdrafts relating to an y deposit account agreement between Trustor and Beneficiary . D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protector khe Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this tcurity ecurity Instrument. This Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of I5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the LLe of the Secured Debt and this Security Instrument. �. IW Y OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of jsale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record. i7. P1IO SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien o unbent that created a prior security interest or encumbrance on the Property, Trustor agrees: . To make all payments when due and to perform or comply with all covenants. To promptly deliver to Beneficiary any notices that Trustor receives from the holder. C. of to allow any modification or extension of, nor to request any future advances under any note or agreement �secured by the lien document without Beneficiary's prior written consent. 18. CLAI MS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiar) �o ie of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to jthe P operty against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to Berrie ciary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor r *,n erials to maintain or improve the Property. 9. D E ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be, i ediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of1the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This c. o en t shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security �Tn tr ent is released. 10. O ERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition and , ke X11 repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of I the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the c uparrcy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any h g in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify Be eficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property. nef ciary or Beneficiary' s agents may, at Beneficiary' s option, enter the Property at any reasonable time for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying z reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiay s benefit and Trustor will ir i no way rely on Beneficiary' s inspection. 11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security n truirient, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as attorn�y in fact to sign Trustor' s name or pay any amount necessary for performance. Beneficiary's right to perform for rust r shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary frorr x rcising any of Beneficiary's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiay s security interest in the Property, including completion of the construction. 112. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, as additional security all the right, title and interest in and to any and all existing or future leases, subleases, 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, issues ani profits (all referred to as "Rents "). Trustor will promptly provide Beneficiary with true and correct copies of all x stirl.g and future Leases. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not in default under the terf ms of this Security Instrument. TrastOr acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is n ill to notify any of Trustor' s tenants to make payment of Rents due or. to become due to Beneficiary. However, e f ciary agrees that only on default will Beneficiary notify Trustor and Trustor' s tenants and make demand that all fullw e'j Rents be paid directly to Beneficiary. On receiving notice of default, Trustor will endorse and deliver to Beneficiary 11 y payment of Rents in Trustor' s possession and will receive any Rents in trust for Beneficiary and will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Trustor warrants that no default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees to maintain and require an tekiant to comply with the terms of the Leases and applicable law. 13. L A EHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the r vi ions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a 1 d unit development, Trustor will perform all of Trustor' s duties under the covenants, by -laws, or regulations of the condominium or planned unit development. (� 2 of 4 Bankers Systems, Inc., St. Cloud, MN (1- 800 - 397 -2341) Form RE -DT -NE 10117/97