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20000:1945
<br />All future advances from Beneficiary to Trustor or other future obligations s of Trustor to Beneficiary under any
<br />(promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary executed
<br />pafter this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one
<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 and
<br />others. All future advances and other future obligations are secured by this Security Instrument even though all or
<br />art may not yet be advanced. All future advances and other future obligations are secured as if made on the date of
<br />is 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 />All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, but
<br />hot limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary.
<br />�. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protect>ng,
<br />he Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this)
<br />Security Instrument.
<br />This ;ecurity Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right o'
<br />rescission.
<br />5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with th
<br />terms of the Secured Debt and this Security Instrument.
<br />6. NTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this)
<br />'Se ur��rustor Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br />Isale. also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. �RIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other li
<br />o�curr�ent that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br />A �I o make all payments when due and to perform or comply with all covenants.
<br />B �I o promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C Riot to allow any modification or extension of, nor to request any future advances under any note or agreement
<br />,secured by the lien document without Beneficiary's prior written consent.
<br />�8. C A S AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,'
<br />hat'liti s, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary
<br />!co ie of all notices that such amounts are due and the receipts evidencing Trustor' s payment. Trustor will defend title to
<br />the P operty against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to
<br />jBe✓ne c>ary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply laborli
<br />r ima erials to maintain or improve the Property.
<br />I9. 147E ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />e l irm nediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale
<br />oflithe 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 />n$trument is released.
<br />110. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition and
<br />e all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration o
<br />h Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of th
<br />occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit an
<br />chang in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify
<br />Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
<br />one ciary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpos�
<br />of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying
<br />I �easo able purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trusto
<br />wi 1 in no way rely on Beneficiary's inspection.
<br />11. AUTI IORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Securi
<br />Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as'
<br />iattprney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary's right to perform for
<br />r st r shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from
<br />X rcising any of Beneficiary's other rights under the law or this Security Instrument. If any construction on the Property is
<br />�i�l
<br />c ontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary'sl,
<br />s urity interest in the Property, including completion of the construction.
<br />12. A SI NMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to Trustee, in trust for the
<br />e efi of Beneficiary, as additional security all the right, title and interest in and to any and all existing or future leases,'
<br />ruble es, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including
<br />i and extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases ") and rents, issues
<br />and profits (all referred to as "Rents "). Trustor will promptly provide Beneficiary with true and correct 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 />rth j terms of this Security Instrument.
<br />T st r acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is!
<br />enitl to notify any of Trustor' s tenants to make payment of Rents due or to become due to Beneficiary. However,'
<br />IPere ciary 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 />an payment of Rents in Trustor' s possession and will receive any Rents in trust for Beneficiary and will not commingle the
<br />Re rits with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Trustor warrant
<br />that n default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees to maintain and requir
<br />arl tenant to comply with the terms of the Leases and applicable law.
<br />13. L> A EHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to com ly with the
<br />prpv> ions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a
<br />jpl, nn d unit development, Trustor will perform all of Trustor' s duties under the covenants, by -laws, or regulations of the
<br />coido 'nium or planned unit development.
<br />I I
<br />I I I
<br />I(D h994 Brokers Systems
<br />L I I
<br />Inc., St. Cloud, 1 (1 -800- 397 -2341) Form RE -0T-NF 10/27/97
<br />(PW of 4,
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