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200305209 B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any promissory note, contract, guaranty, or other evidence of debt executed by Truster in favor of Beneficiary executed aRer [his Security Instrument whether or not this Security Instrument is Tecifically referenced. If more [Iran one person signs this Security Instrument, each Truster agrees that this Security 1ma manual will secure all future advances and future obligations that we given to or incurred by any one or more Truster, or any one or more Trustor and others. All future advances and other future obligations are secured by this Security Instrument even though all or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or advances in any amount. Any such conrtrri[tneoit 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 sot account agreement between Trustor and Beneficiary. D. All additional sums advanced and ex erases incurred by eficiary for insuring, preserving at otherwise protecting the Property and its value and any other sums advanced and expenses incureed 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. 5. PAYMENTS. Trustor agrees that all payments under the Seemed 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 and 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 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 promptly deliver to &meficiary 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 now or agreement secured by the lien document without Beneficiary's prior written consent. S. 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 we duo and the receipts evidencing 'fmstor'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 Ben eficiaarryy, as requested by Beneficiary , any rights, claims or defenses Trustor may have against parties who supply labor or materials to maintain or improve the Properly. 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 o£, any lien, encumbrance, transfer or sale of the Properly. 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, or deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Tmstor 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 Berm wiary's prior written consent. Tmstor will noti 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 at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiay s benefit and Trustor will in no way rely on Beneficiary's inspection. 11. AUTHORITY TO PERFORM. If Trustor fails to per form 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 Trustor's name or pay any amount necessary for performance. Beneficiary's right to perform for Trustor shall not create an obligation to perform, and Ben ry' eficias 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 manner, Beneficiary may lake 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 trust for the benefit of Beneficiary, as additional security all the right, title and interest 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 agrecments (all referr to as "Leases") and rents, issues and profits (all referred to as "Rents"). Trustor will promptly provide Beneficiary with true and sorest copies of all existing and future Leases. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not in default under die terms of this Security Lamaism. Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is entitled to notify any of Toaster'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 Trustor's tenants and make demand that all future Rents be pa ry. id directly to Beneficial 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 Reins with any other funds. Any amours collected will be applied as provided in this Security Instriment. Trustor warrants that no default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees to maintain and require any tenant to comply with the terms of the Leases and applicable law. 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor 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, Truster will perform all of Trustor' a duties under the covenants, by -laws, or regulations of the Condominium or planned nut development. O aw 2 p/ aj 1994 BmXew Systems, Inc.. St CIOU6 MN (I �BOOa9r -29d1) corm RE DT NF 10/31fl) =L ® ®CI BSINEI (9808)oi