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<br /> B. All future advances from Beneficiary to Truseto dence tof debtt executeld by Tru tor in fa�o�o�Be eficiary executed
<br /> prom�ssory note, contract, guaranty, or other
<br /> after this Securiry Instrwnent whether or not this Security Instrument is specifically referenced. If more than one
<br /> person signs this Securi�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 /> part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of
<br /> this Security Instrument. Nothing in this Security Instrument sha11 constitu�teto n a se arate writ ng.e �ditional or
<br /> future loans or advances in any amount. Any such commitment must be agr
<br /> C. All obligations Tn�stor owes to Beneficiary,.which may later arise, to the extent not pro 'bited by law, including, but
<br /> uat limited to habilities for overdrafts relating to any sit account agrcement�.Tul�Oro�e�se prot�ecting
<br /> D �� ��o� g� �,�� � incurred b eficiary for insuru►g, p efici
<br /> � ;;ti a�����d�p�incurred by Ben ary under the terms of this
<br /> ,�,�:,`�� �;:���t the Pro and its value and any r:��� ^ � ..� �'�
<br /> This Secwity Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of
<br /> rescission.
<br /> 5. PAYMENTS. Trustor agrees that all pa�rnents under the Secured Debt will be paid when due and in accordance with the
<br /> terms of the Secured Debt and this Securtty Instrument.
<br /> 6, WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br /> sale.rTrustorralso warrants that the Property iscunen gumberedne cept�foreencumbrances of r cordee, in trust, wrth power of
<br /> 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or ot her lien
<br /> document that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br /> A. To make a11 payments when due and to perform or comply with all covenants.
<br /> B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br /> C. Not to allow any modification or e�ctension 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. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br /> utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary
<br /> copies of all notices that such amounts are due and the receipts evidencmg Trustor's payment. Trustor will defend title to
<br /> the Pro�erty against anYb�l�efic� W andrimpts,claimslor defenses Tr�ustorymay ha�e a8ainst�Partie.�s ho supply labo�
<br /> Beneficiary, as rec�uested Y �'Y� Y Sh
<br /> or materials to msutEain or unprove the Property,
<br /> 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br /> be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale
<br /> covenantrshall runhwith�the Propertytand sha11 remainnn�effect untll t eeSecur d Debt is paid 9n)full�and thsbSecurhty
<br /> Instrument is released.
<br /> 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition and
<br /> make 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 &ee of noxious weeds and grasses. Trustoragrees that the nature of the
<br /> occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit an
<br /> change in any license, restrictive covenant or easement without Beneficiazy's prior written consent. Trustor v�nll notify
<br /> Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
<br /> Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the pwpose
<br /> of inspecting the Property. Beneficiary sha11 give Trustor notice at the time of or before an inspection specifymg a
<br /> reasonable pwpose for the ms�ection. Any inspection of the Property sha11 be entirely for Beneficiary's benefit and Trustor
<br /> will in no way rely on Beneficiary s inspection.
<br /> 11. AUTHORITY TO PERFORM. If Trustor fails to perfarm any duty or any of the covenants contained in this Security
<br /> Instrument, Beneficiary may, without notice, perform ar cause them to be performed. Trustor appoints Beneficiary as
<br /> attorney in fact to sign Trustor's name or pay any amount necessazy for performance. Beneficiary's nght to perform for
<br /> Trustor sha11 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 canied on in a reasonable manner, Beneficiary may take a11 steps necessary to protect Beneficiary's
<br /> security interest in the Property, includin8 co�slertion of the�onstructioa. . ..
<br /> 12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to Trustee, in trust for the
<br /> benefit of Beneficiary, as additional security all the right, title and mterest m and to any and all existing or future leases,
<br /> subleases, and any other written or verbal agreements for the use and occupancy of any portion��of the Property, including
<br /> any 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 a11
<br /> existmg 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 /> Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiazy is
<br /> entitled to notify any of Trustor's tenants to make �ayment of Rents due or to become due to Beneficiary. However,
<br /> Beneficiary 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 Beneficiar�. On receivmg notice of default, Trustor will endorse and deliver to Beneficiary
<br /> any payment of Rents in Trustor's possession and will recerve any Rents in trust for Beneficiary and will not commingle the
<br /> Rents with any other funds. Any amounts c,ollected will be applied as grovided 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 /> any tenant to comply with the terms of the Leases and applicable law.
<br /> 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the
<br /> provisions of any lease if this Securit� Instrument is on a leasehold. If the Property includes a iaiWSn or°ren ulation of the
<br /> planned unit development, Trustor v�nll perform all of Trustor's duties under the covenants, by- S
<br /> condominium or planned unit development.
<br /> (page 2 of 4)
<br /> �1994 Bankers Syslems,Inc.,St.Cloud,MN(1-800-397-2341) Form RE-DT-NE 10/27/97
<br /> ��-C165(Nq(seae�
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