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Application # 0121031066 200205610 B. All future advances from Beneficiary to Truster or other future obligations of Trustor to Beneficiary under any promissory note, contract, guaranty, or odier evidence of debt executed by Truster tu favor of Beneficiary executed alter this Security Irandanarnt whether or not this Security Instrument is specifically referenced If more than mac person signs this Security Instrument, each Truster agrees that this Security Instrument will secure all future advances and tuture obligations that are given to or incurred by any one or more Truster, or any one or more Truster and others. All nature advances and other future obligations are secured by this Security Instmment even though all or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a con di itment to make additional or furore loans or advances in any amount. Any such commitment must be agreed to in a separate writing. C_ All obligations Truster owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary. D. All additional sums advanced and expenses incurred by Beneficiary for imurmg, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this Security Instrument_ This Security Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of rescission. 5. PAYMENTS. Trustor agrees that all payments under the Secured Dehi will he paid when due and to accordance with the terms of the Secured Debt and this Security Instrument 6. WARRANTY OR 'TITLE. Tmsmr warrants trot Trustor is or will be lawfully seized of the estate conveyed by this Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record. 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Truster agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder. C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Beneficiary's prior written consent. 8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, ]case payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing Tmsmr's payment. Trustor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Tmstor agrees to assign In Beneficiary, as requested by Beneficiary, any rights, claims or defenses 'truster may have against parties who supply labor or materials to maintain or improve the Property. 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare die entire balance of the Secured Debt to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C. F.R. 591), as applicable. This covenant shall run with the 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. Trustor will keep die Property in good condition and make all repairs that are reasonably necessary. Truamr shall not cormnit or allow any waste, impairment, or deterioration of the Property _ Truster will keep thc Property free of noxious weeds and grasses mstor agrees that the nature of die occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Truster will notify Beneficiary of all demands, proceedings, claims, and actions agahhst Trustor, and of any loss or damage to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Benefciary's benefit and Trustor will in no way rely on Beneficiary's inspection. 11. AU'I'IIORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security Instmment, Beneficiary nhay, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as attorney in fact to sign Traitor's name or pay any amount necessary for pedorhhance. Beneficiary's right to perform for Truster 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 die taw or this Security Instrument It any construction on the Property is discontinued or not Carried on in a reasonable manner, Beneficiary may take all steps accessary to protect Beneficiary's security interest in the Property, including completion of the construction. 12. ASSIGNMENT OF LEASES AND RENTS. Tmsmr irrevocably grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, as additional security all tie right, title and interest in and to any and all existing or future leases, subleases, and any other written or verbal agreements for the use and occupancy of any portion of tie Property, including any extensions, renewals, modifications or substitutions of such agre;mmds (all referred to as "Leases ") and rents, issues and profits (all referred to as "Rents "). Truster will promptly provide Beneficiary with tote and correct copies of all existing and future Lcodad,. Trustor may collect, receive, enjoy and use the Rents sit lung 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 is untitled to notify any of Trusmr's teihants to nhake payment of Rents due or to become due to Beneficiary. However, Beneficiary agrees that only on default will Beneficiary notify Trustor and Truitor's tenants and make demand that all future Rents be paid directly to Beneficiary. On receiving notice of cobalt, Trustor will endorse and deliver to Beneficiary any payment of Rents in 'fmsmr's poasessiun and will receive any Rents in trust for Beneficiary and will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Trustor warrants that no default exists under the Leases or any applicable land nelfterind 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 ]case if this Security Instrument is on a leasehold- If the Property includes a unit in a condominium or a planned unit development, Truster will perform all of Tremor's duties under are covenants, by -laws, or regulations of the condominium or planned unit development. E. /\ (pdye D14) 1994 aw,kus- syalmi�t Imo. St Claud. MN (bB W04123411 Farm DGDT -N6 ncl9 9] ✓� vyr ®- 0165(NE) Cors)