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200303183 B. All future advances from Beneficiary to 'Trustor or other future obligations of Trustor to Beneficiary under any promissory note, confiner, guaranty, or other evidence of debt executed by Truster in favor of Beneficiary executed after this Security Instrument whether or not this Secuity Instrument is specifically referenced, if more than one person signs this Security Instrwnent, each'frustor agrees that this Security Instrument will secure all future advances and future obligations that aze given to or incurred by any one or more Truster, or any one or more Truster and others. All futare advances and other future obligations are secured by this Security Instrument even though all or part may not yet be advanced. All firfore advances and other Cu[w'e obligations we secured as if made on the date of this Security Instrument. Nothing in this Sccutity Instrument shall constitute a commitment to make additional or Se loans or advances in any aniomI. Any such commitment must be agreed to in a separate writing. C. All obligations Truster owes [o Beneficiary, which may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to an deposit account agreement between Trustor and Beneficiary. D. of additional sums advanced and expenses incurred by at for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terns of this Scromiry Ins[rwnent This Security Instrument will not secure any other debt if Beneficiary fails to give any required notice Of the right of rescission. 5. PAYMENTS. TruvLor agrees that all payments under the 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. Truster warrants that Truster is or will be lawfully seized of the estate conveyed by this Security Instrument end has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of sale. Truster 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 encumbrance on the Property, Trustor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To pratingly deliver to Beneficiary any notices that Truster 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. S. CLAIMS AGAINST TITLE. Truster 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 notim that such amounts are due and the receipts evidencing Truster's payment. IMator 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, any It= encumbrance, transfer or sale of the Properly. This right is subject to the restrictions imposed 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, or deterioration of the Property. Trustor will keep the Property tree 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 pemvt an yy change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notiy Beneficiary of all demands, proceedings, claims, and actions against Trustor, aid 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 at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall he entirely for Beneficiary's benefit and Trustor will in no way rely on Beneficiary a inspection. 11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty of any of the covenants contained in [his Security Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as attorney in fact to sign Tiustor's name or pay any amount necessary for performance. Beneficiary's right to perfom for Trustor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Benefi rciary from exercising any of Beneficiary's other rights Eder the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, 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 iffevocald grants, conveys and sells to Trustee, in Trust for the benefit of Beneficiary, as additional security all the right, title and trinterest in 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 substitutions of such agreements (all referred to as "Leases') and rents, issues and profits (all referred to as "Rents "). 'Trustor will promptly provide Beneficiary with true and correct copies of all existing and future Leaves. Trustor may collect, receive, enjoy and use the Rents so long av Trustor is not in default under the terms of this Security Instrument. Trustor acknowledges that this assignment is perfected upon the recording of this Deed o£'I'rust and that Beneficiary is entitled to notify any of Trusim's tenants to make payment of Rents due or to become due to Beneficiary. However, Beneficiary agrees that only on default will Beneficiary notify Trustor and Truvtor's tenants and make demand that all future Rents be paid directly to Beneficiay. On receiving notice of default, Trustor will endorse and deliver to Beneficiary any payment of Rents in Trustor'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 Immument. Trustor warrants that no default exists under the Leases or my applicable landlord/tenant law. Trustor also agrees to maintain and require my tenant to comply with the terms of the Leases and applicable law. 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to cord ply with the provisions of my leave 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 Toaster's duties under the covenants, by -laws, or regulations of the condominium or planned unit development. Gf nl — (pope 22 Of 4) Q yd 199A BmMa6 StBml, 104, SL Gou4 MN (I 80I1 3Y1 -2341) r4,m RE DT 1 O12)I9] 4' 11L.11 ® ®C1851NE1 (9eoal.o2 V