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<br /> �9�G5559
<br /> B. All future advances from Benefici ortother e�dencetof debthe ecutled by Trust r in favo�o�Be efic��iary executed
<br /> promissory note, contract, guarantY,
<br /> after this Security Instrument whether or not this Security Instrument is specifically referenced. If more t an one
<br /> person signs this Securit�Instrument, each Trustor agrees that this Security Instrument will secure a11 future advances
<br /> and future obligations that ai'e 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 a11 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 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 dbligations Trustor owes to Beneficiary,,which may later arise, to the extent not prohibited by law, including, but
<br /> not limited to, liabilities for overdrafts relatmg to any deposit account agreement betwserv n�o�rother�se pro�ing
<br /> D. All additional sums advanced and expenses incurred by Beneficiary for inswing, p g
<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 /> This Security 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 payments under the Secured Debt will be paid when due and in accordance with the
<br /> terms of the Secured Debt and this Securrty Instrument.
<br /> 6, WpRRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br /> sale. T ustor�also warrants�that the Property is nnencwnberedne cept�for encumbrances of rec =d�' in trust, wnth power of
<br /> deed of trust security agreement or other lien
<br /> 7. PRIOR SECURIT'Y INTERESTS. With regazd to any other mortgage, ,
<br /> document that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br /> A. To make all payments when due and to perform or comply with a11 covenants.
<br /> B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br /> C. Not to allow any modification or extension of, nor to request any futwe 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 a11 taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br /> utilities, and other chazges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiazy
<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 any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to
<br /> Beneficiary, as rec�uested by Beneficiary, any rights, claims or defenses Trustor may ha�e against parties who supply labor
<br /> or matenals to mamtain or improve the Property.
<br /> 9. DUE ON SALE OR ENCiJMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br /> be immediately due and payable up�n the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale
<br /> 0o enantrshalll run withl�thhe Property and halleremaxlnnnleffe�ct unbll tee Secur d �D bCis p d 9n)full�and 1thisb1SecurrtY
<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 aze reasonably necessary. Trustor shall not commit or a11ow any waste, impazrment, or deterioration of
<br /> the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustoragrees that the nature of the
<br /> occupancy and use will not substantially change wnthout Beneficiary's prior written consent Trustor will not permit any
<br /> change m any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify
<br /> Beneficiary of a11 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 purpose
<br /> of inspecting the Property. Beneficiary sha11 give Trustor notice at the time of or before an inspection specifymg a
<br /> reasonable purpose 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 perform any duty or any of the covenants contained in this Security
<br /> Instrument, 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 /> 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 Pro rty is
<br /> discontinued or not carried on in a reasonable manner, Beneficiary may talce all steps necessary to protect Bene iciary's
<br /> security interest in the Property, including completion of the construction.
<br /> 12. ASSIGNMENT OF LEASES AND RENTS. Trustor inevocably grants, conveys and sells to Trustee, in trust for the
<br /> benefit of Beneficiary, as additional security all the right, title and interest 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 conect 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 I
<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 Beneficiary 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 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 wrth 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 /> any tenant to comply with the terms of the Leases and applicable law.
<br /> 13. LEASEHOLDS; CONDOMINIiJMS; 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 umt m a condominium or a
<br /> planned unit development, Trustor wnll perform a11 of Trustor's duties under the covenants, by-laws, or regulations of the
<br /> condominium or planned unit development.
<br /> �
<br /> (page 2 of 4)
<br /> Q 1994 Bankers Syatems,Inc.,St.Cloud,MN(1-800-397-2341) Form REDT-NE 10127/97
<br /> ��-C165(Nq(9B08)
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