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not lidked to liabilities for overdra#ts.rel unt between Trustor and Beneficiary.
<br />:t Alt additional sums advanced and ex ineurr by ficiary far insuring, reserving or otherwise protecting
<br />pens pr s
<br />operty, and 'its its value and any other sums advanced and expenses incurred by Banefic' under the terms of this
<br />the Pr uuy
<br />_ . SCCnrity t: "' et < .ky, :; ,•
<br />This " not secure any oar "alt rf Bertefiry fails to give any required notice of the right of
<br />rescission.
<br />5. PAYMENTS.
<br />iusto(t. agrees, tit all payaiunts thegecurert . w be; paid when due; is dtmce, with the
<br />terms of the ed Debt a this SexurYtyii>$hut ht
<br />6. WARRANTY OF TITLE. Trustor warrants tl Trustot is or will be lawfully seized of the estate conveyed by this
<br />Security Instrument and has the right to irrevocably grant, convey, aud.sell the;Proprty,to Trustee, in trust, with power of
<br />sale. Trustor alp warrants their the Property is unencumbered, exexpt fcir- esz�tntuaneaso>`recard.'
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mo ctf trust, seCUrir ;.agreement ar other lien
<br />docwnent that created a prior security interest or encumbrance on therapertyruste�r`agree�: , ' '
<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 ppry modification or extension o,f�, mQr,to,, any future adyauces under any note or agreement
<br />secured by the lien document without Beneficiary i prior wri ' t consent.
<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. Wwfipi may require Trustor to provide to Beneficiary
<br />copies of all notices that such amounts are due sari the receipts evidencing Trustor's payment. Trustor will defend" title to
<br />the Property against an claims that would impair the lien of this Security Instrument Trustor agrees to a�ign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against patties 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, an lien, encumbrance,, trmarx or sale
<br />of the Property. This right is subject to the ctiona,. ,federal 1 ((12 C.>~.R, 591:), as applicable. This
<br />covenant run with the Property and „sharernain iii t' until the Secured Debi 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 sic reasonably* ne 6essazly. Trustor shall not commit or allow any 4iw te, , impairment, or deterioration of
<br />the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the _ nature of the
<br />occupancy and use will not substantially`change without Beneficiary's r -dr`wr ten consent Trustor will not permit any
<br />change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Truster will notify
<br />ary proceedings, claims, and actions against Trustor, and of shy loss or damage to the- Property.
<br />Beneficiary of all demands,
<br />Beneficiary or Beneficiary's agents may, at Beneficiar�+.' s option, enter the Property at, any resaponable$ time for "',purpose
<br />of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before} au , ipspection nwi nag a
<br />reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor
<br />will in no way rely on Beneficiary's inspection.
<br />11. AUTHORITY TO PERFORM. If Trustor 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
<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 Benefic1'ary'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 manner, Beneficiary may take all steps necessary to protect Beneficiary s
<br />security interest in the Property, including completion of the construction.
<br />12. benefit, of Beneficiary, OF iEASES AND RENTS.
<br />as additional secure all the
<br />Trustor t, title and
<br />irrevocably grants, conveys and sells to Trustee, in trust for the
<br />iary security a, ;gh interest in and to any and all existing or future leases,
<br />subleases, and any other written or verbal'agreemd� Poor the use and occupancy of any portion of the Property, including
<br />any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases ") and rents, issues
<br />and profits (all referred to as "Rents "). Trustor will promptly provide Beneficiary with true and correct copies of all
<br />existing and future Leases. Trustor may-collect receive, enjoy and use the'Rents so long as Trustor is not in default under
<br />the terms of this Security Instrument.
<br />Trustor acknowledges that this assignment' is perfected upon the recording of this Deed of Trust and that Beneficiary is
<br />entitled to notify any of Trustor' s tenants . to make Payment of Rents due or to become due, to Beneficiary. However,
<br />Beneficiary agrees that only `on' default will' Beneficiary notify Trustor and Trustoe s tenants" and 'make demand that all
<br />future Rents be ppaid directly to Beneficiary. On receiving` notice of default, Trustor will endorse and deliver to Beneficiary
<br />any payment of Rents in. Trustor's possession and will. receive a ny Resits 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 any applicable landlord/tenant law. Trustor also agrees to maintain and require
<br />any tenant to comply with the terms of the Leases and applicable law.
<br />13. LEASEHOLDS; CONDOMiNI S; PLANNED UNIT DVELOPNYENTS, 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 Rill - perform all of Trustoe s duties under the covenants, by-laws, or regulations of the
<br />condominium or planned unit development.
<br />(page 2 of 4)
<br />0 1994 Bankers systems, Inc., at. Claud, MN (1- 800397 -2341) Farm FE -OT-NE 10/27/97s , A
<br />- C165(NE) ps08).01 lMliyi'u�e °E7_;,tea.aTdr .�°
<br />B. All it9te to T m
<br />b ' of Trustor to Beneficiary under any
<br />pro notes cmtttn�� or of
<br />afi " Securiity�
<br />bye rustor in favor of Beneficiary executed
<br />ifically referenced. If more than one
<br />prison this Saran a
<br />will secure all future advances >
<br />•_ and ob a given
<br />or T ,- or any one or more Tmstor and t;
<br />othe fur avid other
<br />Security Instrument even though all or ,
<br />m
<br />,may not et a adv All
<br />this o thir►g in
<br />ob are secured as if mace on the date of
<br />to
<br />security 1
<br />co a commitment make additional or
<br />gym- futuredsans or ih any amount. Any
<br />C. All obligations T castor owes to Beneficiary, ch
<br />t ust be to in a writing.
<br />, to ex t notpro�bited by law, including, but
<br />not lidked to liabilities for overdra#ts.rel unt between Trustor and Beneficiary.
<br />:t Alt additional sums advanced and ex ineurr by ficiary far insuring, reserving or otherwise protecting
<br />pens pr s
<br />operty, and 'its its value and any other sums advanced and expenses incurred by Banefic' under the terms of this
<br />the Pr uuy
<br />_ . SCCnrity t: "' et < .ky, :; ,•
<br />This " not secure any oar "alt rf Bertefiry fails to give any required notice of the right of
<br />rescission.
<br />5. PAYMENTS.
<br />iusto(t. agrees, tit all payaiunts thegecurert . w be; paid when due; is dtmce, with the
<br />terms of the ed Debt a this SexurYtyii>$hut ht
<br />6. WARRANTY OF TITLE. Trustor warrants tl Trustot is or will be lawfully seized of the estate conveyed by this
<br />Security Instrument and has the right to irrevocably grant, convey, aud.sell the;Proprty,to Trustee, in trust, with power of
<br />sale. Trustor alp warrants their the Property is unencumbered, exexpt fcir- esz�tntuaneaso>`recard.'
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mo ctf trust, seCUrir ;.agreement ar other lien
<br />docwnent that created a prior security interest or encumbrance on therapertyruste�r`agree�: , ' '
<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 ppry modification or extension o,f�, mQr,to,, any future adyauces under any note or agreement
<br />secured by the lien document without Beneficiary i prior wri ' t consent.
<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. Wwfipi may require Trustor to provide to Beneficiary
<br />copies of all notices that such amounts are due sari the receipts evidencing Trustor's payment. Trustor will defend" title to
<br />the Property against an claims that would impair the lien of this Security Instrument Trustor agrees to a�ign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against patties 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, an lien, encumbrance,, trmarx or sale
<br />of the Property. This right is subject to the ctiona,. ,federal 1 ((12 C.>~.R, 591:), as applicable. This
<br />covenant run with the Property and „sharernain iii t' until the Secured Debi 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 sic reasonably* ne 6essazly. Trustor shall not commit or allow any 4iw te, , impairment, or deterioration of
<br />the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the _ nature of the
<br />occupancy and use will not substantially`change without Beneficiary's r -dr`wr ten consent Trustor will not permit any
<br />change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Truster will notify
<br />ary proceedings, claims, and actions against Trustor, and of shy loss or damage to the- Property.
<br />Beneficiary of all demands,
<br />Beneficiary or Beneficiary's agents may, at Beneficiar�+.' s option, enter the Property at, any resaponable$ time for "',purpose
<br />of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before} au , ipspection nwi nag a
<br />reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor
<br />will in no way rely on Beneficiary's inspection.
<br />11. AUTHORITY TO PERFORM. If Trustor 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
<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 Benefic1'ary'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 manner, Beneficiary may take all steps necessary to protect Beneficiary s
<br />security interest in the Property, including completion of the construction.
<br />12. benefit, of Beneficiary, OF iEASES AND RENTS.
<br />as additional secure all the
<br />Trustor t, title and
<br />irrevocably grants, conveys and sells to Trustee, in trust for the
<br />iary security a, ;gh interest in and to any and all existing or future leases,
<br />subleases, and any other written or verbal'agreemd� Poor the use and occupancy of any portion of the Property, including
<br />any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases ") and rents, issues
<br />and profits (all referred to as "Rents "). Trustor will promptly provide Beneficiary with true and correct copies of all
<br />existing and future Leases. Trustor may-collect receive, enjoy and use the'Rents so long as Trustor is not in default under
<br />the terms of this Security Instrument.
<br />Trustor acknowledges that this assignment' is perfected upon the recording of this Deed of Trust and that Beneficiary is
<br />entitled to notify any of Trustor' s tenants . to make Payment of Rents due or to become due, to Beneficiary. However,
<br />Beneficiary agrees that only `on' default will' Beneficiary notify Trustor and Trustoe s tenants" and 'make demand that all
<br />future Rents be ppaid directly to Beneficiary. On receiving` notice of default, Trustor will endorse and deliver to Beneficiary
<br />any payment of Rents in. Trustor's possession and will. receive a ny Resits 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 any applicable landlord/tenant law. Trustor also agrees to maintain and require
<br />any tenant to comply with the terms of the Leases and applicable law.
<br />13. LEASEHOLDS; CONDOMiNI S; PLANNED UNIT DVELOPNYENTS, 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 Rill - perform all of Trustoe s duties under the covenants, by-laws, or regulations of the
<br />condominium or planned unit development.
<br />(page 2 of 4)
<br />0 1994 Bankers systems, Inc., at. Claud, MN (1- 800397 -2341) Farm FE -OT-NE 10/27/97s , A
<br />- C165(NE) ps08).01 lMliyi'u�e °E7_;,tea.aTdr .�°
<br />
|