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200300401 Application # 0121485411 B. All future advances from Beneficiary to Trustor or other future obligations of Tmstor to Beneficiary under any promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary executed after this Security hutmment whetter or not this Security Instrument is specifically referenced. It' more than one person signs this Security Instrument, each Tmstor agrees that this Security Instrument will secure all future advances and future obligations that are given m or incurred by any one or more Truster, or any one or more Truster and others. All future advances and other future obligations are secured by this Security Inswment even though all or part may not yet be advanced. All future advances and other future obligations are secured as if made on die date of this Security Instrument. Nothing in this Security Instrument shall cwlstinue a commitment to make additional or future lows o[ advances in any amount. Any such commitment must be agreed to in a separate writing. C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary. D. All additional sums advanced and expenses incurred by Beneficiary for insuring preserving or otherwise protecting die Property and its value and any other suns advanced and expenses incurred by Beneficiary under the terns of this Security Instrument. This Security instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of rescission. S. PAYMENTS Trustor agrees that all payments wider me Secured Debt will be paid when due and in accordance with the terms of the Secured Debt and this Security Instrument. 6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this Security Instrument laid has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of sale. Trustor also warrants That the Property is unencumbered, except for encumbrances of record. 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of first, security agreement or other lien document That created a prior security interest or encumbrance on the Property, Trustor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder. C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Beneficiary's prior written consent. 8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing Trustoi s payment. Trustor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or materials to maintain or improve the Property. 9. DUE ON SALE, OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of, or contract for the creation of, anyy lino, encumbrance, Transfer or sale of die Property. This right is subject to the restrictions imposed by federal law (12 C.F.R.591), as applicable. This covenant shall inn with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released. 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep thc Property in deterioration condition and good hake all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, hnpaitmen[, or deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees Tat the nature of the Occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor Will notify Beneficiary of all demands, ptnecedings, claims, and actions against Trustor, and of any loss or damage to die Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will in no way rely on Beneficiary's inspection. Il. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as attorney in fact to sign Truslor's name or pay any amount necessary for performance. Beneficiary's right to perform for Trustor shall not create an Obligation in perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or this Security Instrument. If any commlctiun on the Property is discontinued or not carried on in a reasonable manner, Beneficiary nay take all steps necessary to protect Beneficiary's security, interest in the Property, including completion of the construction. 12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to Trustee, in cost for the benefit of Beneficiary, as additional security all the right, title and interest m and to any and all existing or future leases, subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including any extensions, renewals, modifications or substitution of such agreements (all referred to as "Leases ") and Term, issues and profits (all referred to as "Rents "). Trustor will promptly provide Beneficiary with true and correct copies of at existing and mature Leases. Trustor may collect, receive, enjoy and use the Rents sit long as Traitor is not in default under the terms of this Security Instrument. Tmstor acknowledges that this assignment is perfected upon the recording of this Deed of'I'rust xnd that Beneficiary is entitled to T ati[y any of Tmstor's tenants to hake payment of Rents due or to become due to Beneficiary. However Beneficiary agrees that only on default will Beneficiary notify Tmstor and Trustor's tenants and make demand that all future Rents be paid directly to Beneficiary. On receiving notice of default, Trustor will endorse and deliver to Beneficiary any payment of Rents in Tmstor's possession and will receive any Rents in trust for Beneficiary and will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Trustor warrants tat no default exists under the Leases or any applicable IandlordRenant law. Trustor also agrees in maintain and require any tenant to comply with the terns of the leases and applicable law. 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Toaster agrees to comply with the provision of any lease if This Security Instrument is on a leasehold. If me Property includes a oath in a condonwilum or a planned unit development, Trustor will perform all of Tolson's duties under the covenants, by -laws, or regulations Of the condominium or planned unit development. O 199<Benkars SyTBms Im. al. CIwO. MN Q.00 0.a9] -29411 FOB11 flC -0TNE 10YS ]IB] C (P7� M ®C165(NE) (Bead