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<br />B. All future advances from Beneficiary to Truster or other future obligations of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by Truster in favor of Beneficiary executed
<br />after this Security instrument whether or not this Security Instrument is specifically refercnarl. If more than one
<br />person signs this Security Instrument, each Truster agrees that this Security Instrument will secure all future advances
<br />and Cuture obligations that are given to or incurred by any one or more Toaster, or any one or more Trader and
<br />others. All future advances and other future obligations are secured by this Security 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 commitment to make additional or
<br />future lows 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 arise, to the extent not prohibited by law, including, but
<br />not limited to, liabilities for overdrafts relating to any deposit ar;count agreement between' Trustor and Beneficiary.
<br />D. All additional stuns advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />the Property and its value and coy 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 coy required notice of the rigid 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 Truster 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. Truster also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to coy other mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interest or encumbrance on the Properly, Trustor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptw ly deliver to Beneficiary coy notices that Trustor receives from the holder.
<br />C. Not to allo any modification or extension of, nor to request any future advances under coy now or agreement
<br />secured by the lien document without Beneficiary's prior written consent.
<br />S. CLAIMS AGAINST TITLE. Truster 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 all notices that such annual are due and the receipts evidencing Tmstor'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 assi6m to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses Truster 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 Propvery. This right is subject to the restrictions unposed by federal law (12 C.F.R. 591), as applicable. This
<br />covenant ocl run with the Property and shall remain in effect until the Secured llebt 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 arc reasonably necessary. Truster shall not commit or allow any waste, impairment, or deterioration of
<br />the Property. Trustor will keep the Properly free of noxious weeds and grasses. Trustor ii Tees that the nature of the
<br />occupancy and use will not substantially change without Beneficiary's prior written consent. frustor will not permit any
<br />chan ge 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 'IIrustoq 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 Truster 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 Beneficiay s benefit and Trustor
<br />will in no way rely on Beneficiary's inspection.
<br />11. AUTHORITY TO PERFORM. If Truster 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. Truster 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 Towner, Beneficiary may take all steps necessary to protect Beneficiary's
<br />scemily 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 coy other written or verbal agreements for the use and occupancy of coy portion of the Property, including
<br />any extensions, renewals, modifications or substitutions of such agreements (all refered to as "Leases") and rents, issues
<br />and profits (all referred to as "Rents "). Truster will promptly provide Beneficiary with true and correct copies of all
<br />existing and future Leases. Trustor may collect, receive, enjoy an d use the Rents so long as Trustor is not in default under
<br />the terms of this Security Instrument.
<br />Truster acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is
<br />entitled to notify any of Trial tenants to make payment of Rents due or to become due to Beneficiary. However,
<br />Beneficiary agrees that only on default will Beneficiary notify Truster and '1rustor's tenants and make demand that all
<br />future Rents be paid directly to Beneficiary. On receiving notice of default, Truster will endorse and deliver to Beneficiary
<br />any payment 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 coy applicable landlord/tenant law. Trustor also agrees to maintain and require
<br />any tenant to comply with the terns 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 Security 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 />condominiun or planned unit development.
<br />( 20(4
<br />© 1994 Bm[ais 6y0ems, Inc.,
<br />SL Cloud, MN (I- 00039I 13dq
<br />Foem RE DI NF
<br />10 /U N/
<br />�-CI 55(NE1 ry80 )02
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