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99- 1�8s�s
<br /> B. All future advances from Beneficiazy to Trustar or other future obligations of Trustar to Beneficiary under any
<br /> promissory note, contract, guaranty, or other evidence of debt executed by Trustor in fa�or of Beneficiary executed
<br /> after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one
<br /> person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure a11 future advances
<br /> and future obligations that are given to or incurred by any one or more Trustor, or any one or more Trustar and
<br /> others. All future advances and other future obligations are secured by this Secwity 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 obligations Trustor owes to Beneficiary, which may later azise, to the extent not prohibited by law, including, but
<br /> not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary.
<br /> D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<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 Beneficiazy 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 Security Instrument.
<br /> 6. WARRANT'I' OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br /> Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br /> sale. Trustor also wazrants that the Property is unencumbered, except for encumbrances of record.
<br /> 7. PRIOR SECURITY INTERESTS. With regazd to any other mortgage, deed of trust, security agreement or other 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 a11 covenants.
<br /> B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br /> C. Not to a11ow 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. CLAIMS AGAINST TITLE. Trustor will pay all ta�ces, 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 a11 notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to
<br /> the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to
<br /> Beneficiary, as rec�uested bx Beneficiary, any rights, claims or defenses Trustor may ha�e against parties who supply labor
<br /> or materials to mamtain or improve the Property.
<br /> 9. DUE ON SALE OR ENCUMBRANCE. Beneficiazy may, at its option, declare the entire balance of the Secured Debt to
<br /> be immediately due and�ayable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale
<br /> of the Property. This nght is subject to the restrictions imposed b� 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 /> 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 sha11 not commit ar a11ow any waste, impairment, or deterioration of
<br /> the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the
<br /> occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any
<br /> change 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 ar damage to the Property.
<br /> Beneficiazy or Beneficiary's agents may, at Beneficiazy'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 befare an inspection specifymg a
<br /> reasonable parpose 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 inspechon.
<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 ar this Security Instrument. If any construction on the Property is
<br /> discontinued or not cazried on in a reasonable manner, Beneficiary may talce a11 steps necessary to protect Beneficiary's
<br /> security interest in the Property, 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 additional security all the right, title and interest in 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 (a11 referred to as "Leases") and rents, issues
<br /> and profits (a11 referred to as "Rents"). Trustor will promptly provide Beneficiary with true and correct copies of all
<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 Beneficiary is
<br /> entitled to notify any of Trustor's tenants to make �ayment of Rents due or to become due to Beneficiazy. However,
<br /> Beneficiary agrees that only on default will Beneficiary notify Trustor and Trustor's tenants and make demand that a11
<br /> future Rents be paid directly to Beneficiar�. 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 Beneficiazy and will not commingle the
<br /> Rents w�th 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; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the
<br /> provisions of any lease if this Secwit� Instrument is on a leasehold. If the Property includes a unit in a condominium or a
<br /> planned unit development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br /> condominium or planned unit development.
<br /> (page 2 of 4)
<br /> 0 1994 BankersSystems,Inc.,St.Cloud,MN(1-800397-2341) Form RE-DT-NE 10127/97
<br /> ��-C165(Nq�seoe� �
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