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<br /> B. All future advances from Beneficiary to Trustor or other future obligations 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 /> 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 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 aze secured by this Secwity 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 shall constitute a comxnitment to make aciditional or
<br /> future loans or advances in any amount. Any such comxnihnent must be agreed to in a separate writing. :
<br /> C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, but
<br /> not limited tq 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 protectmg
<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 Security Instrument.
<br /> 6. WARRANTY 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 /> sa1e. Trustor also warrants that the Property is unencumbered, except for encumbrances of record. :
<br /> 7. PRIOR SECURTTY INTERESTS. With regard 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 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 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 TTTLE. 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 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 requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor
<br /> or materials to maintain or improve 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 /> of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This
<br /> covenant sha11 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 a11 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 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 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 shall give Trustor notice at the time of or before an inspection specifying a
<br /> reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor
<br /> will in no way rely on Beneficiary's inspection. :
<br /> 11. AITTHORITY 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 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 this Security Instrument. If any construction on the Property is :
<br /> discontinued or not carried on in a reasonable manner, Beneficiary may take all 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 inevocably 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 (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 /> the terrns 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 payrnent 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 payrnent of Rents in Trustor's possession and will receive any Rents in trust for Beneficiary and will not commingle the :
<br /> Rents with 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; CONDONIINNMS; PLANNED i1NIT DEVELOPMENTS. Trustor agrees to comply with the :
<br /> provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condoirunium 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.
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<br /> Q 1994 Bankers Systems,Inc.,St.Cloud,MN 11•800-397•23411 Form flE•DT�NE 10127197
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