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. �9- .i�sa1
<br /> S. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, e�cumbrances, le,ase�payn�ents, ground rents,
<br /> utilities, �d other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary
<br /> capies of all notices that such amounts are due and the receipts evidencing Trustor's pay�ent. Trnstor will defend title to
<br /> the Praperty against any claims that would impair the lien of this Security Instrument. Tivstor agrees to assign to
<br /> Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustar may have against parties who supply labor
<br /> or materials to maintain ar improve the Property.
<br /> 9. DLJE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br /> be immediately due and payable upan the creation of, or contract for the creation of, any lien, encumbrance, transfer or
<br /> sale of the Property. This right is subject to the restrictions imposeci by fe�leral law (12 C.F.R. 591), as applicable. This
<br /> cove,nant shall nm with the Property and shall remain in effect until the Secure�i Debt is paid in full and this Security
<br /> Instniment is released.
<br /> 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Tn�stor will kcep the Property in good condition
<br /> and make all repairs that are reasonably necessary. Trustor sha11 not commit or allow any waste, im�airment, or
<br /> deterioratian of the Property. Trustor will keep the Property free of noxious wceds and grasses. Tn�stor agraes that the
<br /> nature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not
<br /> permit any change in any license, restrictive cov�ant or easement without Beneficiary's prior written conse,nt. Trustor will
<br /> notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the
<br /> P�Y•
<br /> Beneficiary or Beneficiary's ageats may, at Beneficiary's option, enter the Property at any reasonable time for the purpose
<br /> of inspecting the Pmperty. Beneficiary sUall give Trustor notice at the time of or before an inspection specifying a
<br /> reasonable purpose for the inspectian. Any inspection of the Praperty shall be entirely for Beneficiary's benefit and
<br /> Trustor will in no way rely on Beneficiary's inspection.
<br /> 11. AUTHORITY TO PERFORM. If Tn�stor fails to perform any duty or any of the covenants contained in tlus Security
<br /> Instniment, Beneficiary may, without notice, perform or cause them to be perforn�ed. Trustor appoints Beneficiary as
<br /> attorney in fact to sign Trustor's na� or pay any amount necessary for perforn�nce. Beneficiary's right to perform for
<br /> Trustor shall 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 tlus Security Instrument. If aay construction on the Praperty
<br /> is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's
<br /> security interest in the Praperty, including completion of the construction.
<br /> 12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to Trustee, in trust for the
<br /> benefit of Beneficiary, as addirional security all the right, title and interest in and to any and all exisking or future leases,
<br /> subleases, and any other written or verbal agreements for the use and occupancy of any portian of the Praperty, including
<br /> any extensians, re�ewals, modificatians or substitutions of such agreements (all referred to as "Leases") and re�ts, issues
<br /> and profits (all referred to as "Rents"). Trustor will prompfly provide Beneficiary with true and correct copies of all
<br /> existing and futute Leases. Trustor may collect, receive, en�oy and use the Rents so lang as Trustor is not in default under
<br /> the terms of this Security Instruwent.
<br /> Trnstor aclaiowledges that ttris assignn�ent is perfected upon the recording of this Deed of Tmst and that Beneficiary is
<br /> ea►tifled to notify any of Tn�stor's tea�ants to make payment of Rents due or to become due to Beneficiary. However,
<br /> Benefieiary agrees tbat only on default will Beneficiary notify Trustor and Trustar's teaants and make demand that all
<br /> future Rents be paid directly to Beneficiary. On receivuig notice of default, Trustor will endorse and deliver to Beneficiary
<br /> aay payment of Rents in Trustor's possession and v�nll receive any Rents in hust for Beneficiary and will not commingle
<br /> the Rents with any other funds. Any a�ounts collected will be applied as provide� in ttris Security Instnunent. Trustor
<br /> wariants that no default exists under the Leases or any applicable landlord/tenant law. Trustor also agraes to maintain and
<br /> iequire any tenant to comply with the terms of the Leases and applicable law.
<br /> 13. LEASEHOLDS; CONDOMINIUMS; PLANNED IJriIT DEVELOPMENTS. Trustor agrees to comply with the
<br /> provisions of any lease if this Security Instniment is an a leasehold. If the Praperty includes a unit in a condominium or a
<br /> planned unit develapment, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br /> condominium or planned unit develapment.
<br /> 14. DEFAiJLT. Tnistor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trustor
<br /> will be in default if a breach occurs under the terms of tlus Security Instrument ar any other documeut executed for the
<br /> putpose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary tl�at Beneficiary at any
<br /> time is insecure with respect to aay person or entity obligated on the Secured Debt or that the prospect of any payment or
<br /> the value of the Property is impaire�i shall also constitute an event of default.
<br /> Gr T�15-28-090 (11/97) /Page 3 of 61
<br /> �1984 Bsnkere Syetems,Inc.,St.Cloud,MN Form GTH-MTGLAZNE t/8/98 �y�,�
<br /> �/a�/99
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