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RE- RECORDED 200303202
<br />200305355[
<br />B. All future advances from Beneficiary to Truster or other future obligations of'Imstor to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt existing mlw or exeand afrer this Deed of 1'nnst
<br />whether or not thus Deed of Trust is specifically referred to N the evidence of debt.
<br />C. All obligations Trustor owes to Beneficiary, which now exist or may later arise, to the extent not prohibited by law,
<br />including, but not limited to, liabilities fox overdrafts relating to any deposit to agreement between Truster
<br />and Beneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring preserving or otherwise protecting
<br />the Property and its value and any other sums advanced and expenses incurred by Beneficiary untie[ the terms of
<br />this Dead of Trust, plus interest at the highest rate in effect from time to time, as provided in the Evidence of
<br />Debt.
<br />F. Trustor's performance under the terms of any instrument evidencing a debt by Trustor to Beneficiary and any Dee
<br />of Trust securing; guarantying, or otherwise relating to the debt.
<br />If more than one person signs this Deed of Trust as Trustor, each Trustor agrees that this Deed of'1'mst will secure all
<br />future advances and future obligations described above that are given to or incurred by any one or more Trustor, or any
<br />one or more Trustor and others. This Deed of Trust will not secure any other debt if Beneficiary fails, with respect to such
<br />other debt, to make any required disclosure about this Deed of Trust or if Beneficiary fails to give any required notice of
<br />the right of rescission.
<br />5. PAYMEN'PS. Trustor agrees to [Hake all payments on the Secured Debt when due and in ::ccordance with the arms of the
<br />Evidence of Debt or this Deed of Trust.
<br />6, and has the WARRANTY ht to irrevocably evocably grartt oconnvcys and sell tooTrustee,f in trust, with power of sale, Property and warrants
<br />that the Property is unencumbered, except for encumbrances or record.
<br />9. CLAIMS AGAINST 'TITLE. Tmstor will pay all taxes, assessments, liens, encumbrances, lease payments, bnomnd rents,
<br />in lities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary
<br />copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to
<br />the Property against any claims that would impair the lien of this Decd of Trust. T}uelor agrees to assign to Beneficing
<br />as requested by Beneficiary, any rights, claims or defenses which Trustor may have against parties who supply labor or
<br />materials to improve or maintain the Property.
<br />8. PRIOR t crea INTERESTS. gdc e tn
<br />nt hat creat da p for se uity mtere torenumbr ce n the Property and that may have priority this Deed
<br />of Trust, Trustor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C. Not to make or permit any modification or extension of, and not to request or accept any future advances under any
<br />note or agreement secured by, the other mortgage, deed of trust or security agreement unless Beneficiary consents in
<br />writing.
<br />9. DUE ON SALE. OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of thc.Secnred Debt to
<br />be immediately due and payable upon the creation of any lien, encumbrance, transfer, or sale, or contract for any of these
<br />on the Property. However, if the Property includes Trustor's residence this satin shall be subject to the restrictions
<br />imposed by federal law (12 C.F.R. 591), as applicable For the purposes of this section, the term "Property " also includes
<br />any interest to all or any part of the Property . This covnant shall rum with the Property and shot] remain in effect until the
<br />Secured Debt is paid 4F full and this Deed of Trust is released.
<br />10. TRANSFER OF AN INTEREST IN THE GRANTOR. If Trustor is an entity other than a natural person (such as a
<br />corporation or other organization), Beneficiary may demand immediate payment if (1) a beneficial interest in Trustor is
<br />sold or transferred; (2) there is a change in either the identity or number of members of a partnership; or (3) there is a
<br />change in ownership of more than 25 percent of the voting stock of a corporation. However, Beneficiary may not demand
<br />payment in the above situations if it is prohibited by law as of the date of this Decd of Trust.
<br />11. ENTITY WARRANTIES AND REPRESENTATIONS. If 'Trustor is an entity other than a natural person (such as a
<br />corporation or other orgard ration), Trustor makes to Beneficiary the following warranties said representations which shall
<br />be continuing as long as the Seemed Debt remains outstanding:
<br />A. Trustor is an entity which is duly organized and validly existing in the Trustor's state of incorporation (or
<br />organization). Trustor is in good standing in all states in which Trustor transacts business. Trustor has the power
<br />and authority to own the Property and to carry on its business as now being conducted and, as applicable, is
<br />qualified to do so in each state in which Trustor operates.
<br />B. 'Hoe execution, delivery and performance of this Deed of Trust by Tmstor and the obligation evidenced by the
<br />Evidence of Debt are within the power of Trustor, have been duly authorized, have received all necessary
<br />governmental approval, sand will not violate any provision ref law, or order of court or governmental agency.
<br />C. Other than disclosed in writing'l'mshor has not changed its name within the last to years and has not used any other
<br />trade or fictitious name. Without Beneficiary's prior written consnt Trustor tiers sot and will not use any other
<br />name and will preserve its existing name, trade names and franchises until the Secured Debt is satisfied.
<br />12. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition
<br />and make all repairs that are reasonably necessary. Trustor will give Beneficiary prompt notice of any loss or damage to
<br />the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor will not initiate, join in or
<br />consent to any icti
<br />change in any private restrictive covenant, zoning ordinance or other public or private restton limiting or
<br />defining the uses which may be made of the Property or any put of the Property, without Beneficiary's poor written
<br />consent. Trustor will notify Beneficiary of all demands, proceedings, Claims, and actions against Trustor or any other
<br />owner made under law or regulation regarding use, ownership and occupancy of the Property. Trusor will umply with
<br />all legal requirements and restrictions, whether public or private, with respect to the use of the Property. '1'rnstor also
<br />agrees that the nature of the occupancy and use will not change without Beneficiary's prior written consent.
<br />No portion sPht demolished materially is rt
<br />that become
<br />except that Truterhas the right o remove hems of personal nal propery comptms a part the Property
<br />l �l aq sKeote
<br />F�' 199] BenXev 6yslems. Inc. 6/ elouJ. MN Po,m A6IfiOciNE 9/0/4001
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<br />Q "6164(NE) (o1F1)02
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