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200306534
<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Tmstor will keep the Property in good condition and
<br />make all repairs that are reasonably necessary - Trustor shall not commit or allow any waste, impairment, or deterioration
<br />of the Property. Traitor will keep the Property free of noxious weeds and grasses. Taster agrees that the nature of the occupancy
<br />and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any change in any
<br />license, restrictive covenant or easement without Beneficiary's prior written consent. Tristan will notify Beneficiary of all
<br />demands, proceedings, claims, and actions against Unstor, 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
<br />purpose of inspecting the Property. Beneficiary shall give Truster notice at the time of or before an inspection specifying
<br />a reasonable purpose for the inspection. Any inspection oflhe Property shall be entirely for Beneficiary's benefit and
<br />Trailer will in no way rely on Beneficiary's inspection.
<br />11. AUTHORITY TO PERFORM. ICTrustor 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. Trustor appoints Beneficiary as attorney
<br />in fact to sign I 'rustor's name or pay any amount necessary for performance. Beneficiary's right to perform for Taster shall not
<br />create un obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of
<br />Beneficiary's other rights under the law or this Security Instrument. Ifany construction on the Property is discontinued or not carried
<br />on in a masnnabl. manner, Beneficiary may lake all steps necessary to protect Beneficiary's security interest in the
<br />Property, including completion of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Truster irrevocably grants, conveys and sells to Trustee, in trust far the benefit of
<br />Beneficiary, as additional security all the right, title and interest in and to any and all existing or future leases, subleases, and any
<br />other written or verbal agreements for the use and occupancy of any portion of the Property, including any extensions, renewals,
<br />modifications or substitutions ofsuch agreements (all referred to as "Leuses ") and rents, issues and profits (all referred to as
<br />"Rents "). Taster will promptly provide Beneficiary with true and correct copies of all existing and future Teases. Trustor may
<br />collect, receive, enjoy and use the Rents so lung as Trustor is not in default under the terns of this Security Instrument.
<br />Truster acknowlcdgcs that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is entitled to
<br />notify any of Trusmr9 imams to make payment of Rents due or to become due to Beneficiary. However, Beneficiary agrees that
<br />only on default will Beneficiary notify Truster and Trustor's tenants and make demand that all finure Rents be paid directly to
<br />Beneficiary. On receiving notice cf detain, Trustor will endorse and deliver to Beneficiary any payment of Rents in Truston's
<br />possession and will receive any Rents in trust for Beneficiary and will not commingle the Rents with any other funds- Any
<br />amounts collected will be applied as provided in this Secury Instrument. Tmstor warrants that no default exists under the
<br />Teases or any applicable landlord4coanl law. Trustor also agrees to maintain and require any tenant to comply with the
<br />terms ofthe Leases and applicable law.
<br />13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the provisions
<br />Litany lease ifthis Security Instrument is on a leasehold. tribe Property includes a unit in a condominium or a planned unit
<br />development, Trustor will perform all of Tmstor's duties under the covenants, by -laws, or regulations ofthc condominium or planned
<br />unit development.
<br />14. DEFAULT. I union will be in default if any party obligated on the Secured Debt fails to make payment when due_ Trustorwill be in
<br />default ifa breach actors under the terms of this Security Instrument or any other documents executed for the purpose of creating, securing
<br />or guurantying the Secured Debt. A good faith beliefby Beneficiary that Beneficiary at anytime is insecure with respect to any person or
<br />entity obligated on the Secured Debtor that the prospect ofany payment or the value atone Property is impaired shall also constitute an
<br />event of default.
<br />15. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Trustor with notice ofthe right
<br />m cure or other notices and may establish time schedules for foreclosure actions. Subject to these limitations, if any, Beneficiary pray
<br />accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Trustor is in default.
<br />At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become immediately due
<br />and payable, after giving notice if required bylaw, upon the occurrcncc Life default or anytime thereafter. In addition, Beneficiary shall be
<br />enli[led to all the remedies provided by law, the terms of the Secured Debt, this Security Instrument and any related documents, including
<br />without limitation, the power to sell the Property
<br />EXperiTM C 1994 Rankers Systems, Inc., SL Cloud MN form I1SB- 2,D'I -NE 9/42001
<br />(page J of ti)
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