|
Application # 0120712849
<br />200200107
<br />B. All future advancep Beneficiary
<br />our other videncerof other future debt executed by Trustoroin favor ooftBen Beneficiary Beneficiary executed after
<br />promissory note, contract, gu
<br />this Security Instrument whether or not this
<br />Trustor agrees Securi Security r Instrument will secure all future advances nd future
<br />this Security
<br />obligations that are gfuturetoobli obligations a eysecured byrthisrSecurity Instrument e e though all or pars may not l yet
<br />advances and other g
<br />advanced. All Securidvnsstrument shall constitute onstitute obligations commitment to make dditioonal o future oars or ad n es any
<br />Nothing m this Security
<br />amount. Any such commitment must be agreed to in a separate writing.
<br />C. All obligations Trustor overdrafts relating t any deposit later
<br />ccount arise, to thee xtentween Trustor or and Beneficiary. but not
<br />limited to, liabilitre preserving or otherwise protecting the
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, p g
<br />Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br />Security Instrument.
<br />if Beneficiary fails to give any required notice of the right of
<br />This Security Instrument will not secure any other debt
<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 to irrevocably warrants that Trustor
<br />and will be Property to seized of Trustee, in trust, with powerbof ale Trustor
<br />Instrument and has the right
<br />also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTERES. interest regard encumbrance on the PropertyaTrus�or agrees: security agreement or other lien
<br />document that created a eats security
<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 allow any modification or extension of, nor to request any future advances under any note or agreement secured
<br />by the lien document without Beneficiary's prior written consent.
<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, may require p Trustor to provide to Beneficiary copies
<br />utilities, and other charges relating to the Property when due. Beneficiary may
<br />of all notices that such would, impair r duthe and the lien of
<br />sr Stecurity Instrrument oTrustor agrees osass assign to Beneficiary, aserequested
<br />against any claims that
<br />by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or materials to maintain or
<br />improve the Property.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be
<br />immediately due and payable ubject to the restrictions o imposed by federal law (12 C F.R.S 1) as applicable. This transfer or sale
<br />hall run
<br />Property. This right is subs
<br />with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released.
<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition and th
<br />make all repairs that are reastohe P1T nerri free of noxious saweeds and grasses. Trustor agrees that therinatureeofrtheaoccupancy
<br />Property. Trustor will keep P prior written consent. Trustor will not permit any change in any
<br />and use will not substantially change without Beneficiary's
<br />license, restrictive covenant oraeasemonts against Trustor,iaed of any loss written
<br />or damage t the P operwill notify Beneficiary of all
<br />demands, proceedings, claims,
<br />Beneficiary or e Property. Beneficiary ats shall at give Trustor notice o t theetimee ofrorrebefo at esan inspection specifying a purpose
<br />reasonable
<br />inspecting the Property. Be ry
<br />purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor, will in no way
<br />rely on Beneficiary's inspection.
<br />11. AUTHORITY TO PERFORM. without notice,
<br />fails to to or souse tang dto be performed Trustor appoinonBenefic Beneficiary as attorney
<br />Instrument, Beneficiary may,
<br />in fact to sign Trustor's name or pay Be Beneficiary's failure to to perforrm will not preiclude Benefit aryefrom exercising any of
<br />not create an obligation to
<br />perform, is discontinued or not
<br />Beneficiary's other rights under the law or this Security take all tes necessary t prtotect Beneficiary's Property security interest in the
<br />carried on m a reasonable manner, Beneficiary may P
<br />Property, including completion of the construction. rustee, in
<br />12. ASSIGNMENT OF LEASEecurNDal
<br />the right, ght,rtitle and interest estyio and to any and all existing or future leases, subleases, nd
<br />of Beneficiary, as additions security
<br />any other written or agreements of the uchs agreements occupancy referred to as Les the es ")rand. rents, issues and profits (all
<br />renewals, modifications s eley pr Beneficiary r s tdf all x
<br />referred to as "Rents" . Tr o t under the terms of this Leases. Trustor may collect, receive, enjoy the Rents ong as
<br />Security Instrument.
<br />Trustor acknowledges that s tenants to make payment o Rents due or or become dueito Beneficiary. However, Benefit ary eagrees
<br />to notify any of Trustor'
<br />that only on default Beneficiary. will
<br />.. OnBreceiving notice of default, Trustor will tenants and
<br />and delliiver to Beneficiary all
<br />ny payment pof Rent paid
<br />directly to Benef ry
<br />Trustor's possession amounts collected w ll be applied s provided f in this Security Instrument. Trusstorpwarrants that no default exists other
<br />funds. Any am
<br />under the Leases or any and applicable applicable la lord /tenant law. Trustor also agrees to maintain and require any tenant to comply with
<br />the terms of the Leases a
<br />13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the um or a
<br />provisions it any a this Security w 1 perform rppallsof Trustores duties under the covenants, enants, by-laws, or regulations egulatp ons of the
<br />planned Sint development ,
<br />condominium or planned unit development.
<br />� (Pa9e
<br />0 1994 Bankers Systems, Inc., St. Cloud, MN (1- 800397 -2341) Form RE -DT -NE 10/27/97
<br />d= C165(NE) (9808)
<br />
|