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Application # 0120927983 q _ 2402 347t B. All future advances from Beneficiary to or other Enure obl�tiow of Trustor to Beneficiary under airy my note, contzact� , or other evidence of debt exiecxxted Tnutor in-favor of Beneficiary 6wct ted aver mor hotcument or not this Security referenced. If more than out person signs this Security Instrument, each Trutasor i that this Security Imrumesit will secure all future advances and future obligations that are given to or i ncorrtnd a w one or more Tro tor, or any doe or more Tntator and others. All fuare advances and other feure obligations are secured by this Security instrument even though All or pad may not yet be advanced. All fture advances and other figure obliga tiom are secured as ff made on me date of this Security Insramnent. Naming in this Security Instrument shall consuna a commitment to make additional or fiewe loans or advances in any amount. Any such cow most 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' n any deposit agrae�t between Trustor and Beneficiary. ' All additional sums advanced and expenses red by Beneficiary for insuring, preservWX or omerwise protecting the Property and its value and any other sums advanced and expcmes incurred by Beneficiary under the to of this Security Iotru ment. no Security Instrument will not seem my other debt if Beneficiary fails to give any required notice of the right of rescission. S. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the tes of the S� Debt and thi"awrity Iffitrum - o_rp t 'f"I"I' Treace wan t titer T `is oir ire �► seined of the estate conveyed by this SeCW ru ment and has the right to � Relent, convey, and sell the Pmparty to Trustee, m tout, with power of sale. Trustor also warrants that the Property is txucueuumber+ed, except for encumbrances of record. 7. PRIOR SECURITY UMRESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security ingest or eni tunbtance on the Property, Trustor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To �m�t1y deL'ver to Beneficiary any notices that Tnl w receives from the holder. C. Nof to allow any modification or extension of, nor to request any fwure advances under any note or amt secured by the lien document without Beneficiary's prior written consent. S. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, mmiribrances, lease payments and rents. utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to "vide to rycopies of all notices that such amounts are due and Three evidencing Trustor's payment. Trustor will defend title to the Property against any claims that world impair the lien of this Instrument. Truster agrees to assl$n to Beneficiary, as requested by Beneficiary. any rights, claims or defenses Trustor may have against parties who supply labor or materials to maintain or improve the any 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 of, aa�tiy lien, encumbrance, transfer or sale of the w�Tors right is subject to the restrictions by federal law (12 C.F.R.591), sa applicable. This cuvenatt shall earn 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. Thistor will beep the Property in good condition and make all repu'rs that are reasonably necessary. Tnutor shall norccinunit or allow any waste, . , or of the Property. Trustor will ]Deep the Property free of noxious weeds and grasses. Thum agrees that the nature of the occupancy and use will not substantially change without Benreficr'ary's prior written consem Trustor will not permit any change m air license, restrictive covenant or easement without Beneficiary 's prior consent. Trustor will notify Benef ciary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property. Beneficiary or Beneficiary's a may, at Beneficiary's option, enter the Property at any rtasooklik time for the rea b - hng the property. Beneficiary shall give Trustor notice at die time of or before an ► spdcusrfjtnong a le purpose for the ms?ection. Any inspection of the Property shall be entirely for Beneficiary's benefit and TTnn r will in no way rely on Beneficiary s inspection. 11. AUTHORITY TO PERFORM. H Trustor fails to perform arty 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 Beneficiary's failure to perform will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or this Security instrument. H any construction on the Property is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's security interest in the Property, including complexion of the construction. 12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to T u tee, in trust for the benefit of Beneficiary, as additional security all the right, title and interest in and to any and all existing or fixture 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 agreements (all referred to as "Leases ") and rents, issues and profits (all referred to as "Rents "). Tnrstor will promptly provide Beneficiary with true and correct 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 the terms of this Security Instrument. Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary n entitled to notify any of Trustor's tenants to make payment of Rents due or to become due to Beneficiary. However, Beneficiary agrees that only on default will Beneficiary notify Truster and Trustor's tenants and make demand that all future Rents be paid directly to Beneficiary. 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 Rents with any other funds. Any amounts collected will be aapppplied as provided in this Security Instrument. Trustor warrants that no default exists under the Leases or any applicable landlordffenant 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. H the Property includes a unit in a condominium or a planned unit development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the concmmrmam or planned unit development. 0 104 Bmkao sy~w. Ina.. SL Gard. MN (1400. 397,2941) Form RE -DT-NE IW7,27 1f416XNE) c9 M rC