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200302073 B. All future advances from Beneficiary to Trustor or other future obligations of 'Trustor to Beneficiary under any promissory mom, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after This Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by any one or more Trustor, or any one or more Trustor and others. All future advances and other future obligations are secured by this Security Iustrumem even though all or pan may not yet be advanced. All future advances and other future obligations are secured as if made On the dale of this Security Instrument. Nothing In this Security Instrument shall constitute a commitment to make additional or future loam, or adVanecs in any armount. Any such conmrinnent must he 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 the Properly and its value and any other ,urns advanced and expenses incurred by Beneficiary under the terms of this Security Instrument. 'I'bis Security Instrument will not secure any other debt if Beneficiary tails to give any required notice of the right of rescission. 5. PAYMENTS. 'Tmstor agrees that all payments under the Secured Deb( will be paid when due and in accordance with the temts of the Secured Debt and this Security Instrument. 6. WARRANTY OF TITLE. Tmstor warrants that 'I rustor is or will be lawfully seized of the estate conveyed by this Security Instrument and has the right m 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 trust, security agreement or other lien document that created a prior security interest Or cnewalbrance On line 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 front 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 convent. R. CLAIMS AGAINST =E. Trustor will pay all taxes, assessments, liens, encumbrances, Icase payments, ground reels, utilities, and other charges relating to the Property when due. Beneficiary may require r mstor to provide to Beneficiary copies of all notices Ural such amounts are due and Ole re cipls evidencing Truslor's payment. Truster 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 unprove 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, any lien, encumbrance, transfer or sale Of the Property. This right is subject to the restrictions unposed by federal law (12 C.F.R. 591), as applicable. This covenant shall run 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 the Property in good condition and make all repairs that are reasonably necessary. Trustor shall not commit Or allow any waste, impairment, nr deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that 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, proceedings, claims, and actions against 'Trustor, and of any loss or damage to the 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 al 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 benetiit and Trustor will in no way rely on Beneficiary's inspection. 11. AUTHORITY TO PERFORM. If Trasmr 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. Truster appoints Beneficiary as attorney in fact to sign 'I rustor's name or pay any amount necessary for performance. Beneficiary's right to perform for Trustor shall not create an obligation to 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 construction on the Property is discontinued Or not carried On in a reasonable nhanuer, Beneficiary may 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 assigns, grants and conveys, to 'Trustee, in trust for the benefit Of Rcnefieiary as additional security all the right, title and interest in the following (all referred Ito as Property): existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements fot the use and occupancy of the Property, including any extensions, renewals, modifications or replacements (all referred to as Leases); and rents, issues and profits (all referred to as Rents). In the event any item listed as Leases or Rents is dctcrnined to be personal property, this Assignment will also be regarded as a security agreement. 'l'rustor will promptly provide Beneficiary with copies of the Leases and will certify these Leases are true and correct topics. The existing Lcnsev will be provided on execution of the Assignment, and all future Leases and any other information with respect to these Leases will be provided immediately after they Are exceulud. Trustor may e011ecl, receive, enjoy and use the Rents so long as Trustor is not in default. Upon default, Tmstor will receive any Rents in (rust for Beneficiary and will Am commingle the Rents with any other funds- Truslnr ogres that this Security Instrument is immediately effective between Trustor and Beneficiary and effective as to third parties on the recording of this Assignment. As long as this Assignment is in effect, Irusmr warrants and represents that no default exists under the Leases, and the panics subject m the leases have not violated any applicable law on leases, licenses and landlords and tenants. 17. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Truster agrees to comply with the provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a planned unit development, 'Trustor will perform all of'truster's duties under the covenants, by -laws, or regulations of the condominium Or planned unit development. Ejryer oN IS 1889 6euken S Wtema. Inc., St Cbue, MN Form HF e I NF 11)0 1[ 01 p e 2 Jot . IL