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2TM205910 Application k 0120979075 200205132 B. All future advances from Beneficiary to Trustor or other future obligations of Truster in Beneficiary under any promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary executed after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one 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 hsurred by any one or more Trustor, or any one or more Truster and others. All future advances and other future obligations are secured by this Security Inslmment even though all or part may not yet be advanced. All future advances and other future obligations are seemed as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future 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 our 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 insuring, 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 Debt will be paid when due and in accordance with the terms of the Secured Debt and this Security Instrument. 6. WARRANTY Of TITLE. Trustor warrants that 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, Tmsmr agmes: A. To intake all payments when due and to perform or comply with all covenants. B. To promptly deliver to Beneficiary any notices that Truster receives from the holder. C. Not mallow any modification or extension of, nor in 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 axes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may require Truster to provide m Beneficiary copies of all notices that such amounts are due and tine receipts evidencing Tmstor's payment Truster will defend tide m the Property against any claims that would impair the lien of this Security Instrument. Trustor agres to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Truster may have against parties who supply labor or materials to maintain or improve die Property. 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt in be immediately due and payable upon the creation of, or contract for the creation of, any Gen, 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 urn with the Properly and shall remain in effect until the Secured Debt is paid in full and this Security testament is released. 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's prior written convent. Truster will not permit any change in any license, restrictive covenant or casement without Beneficiary's prior written consent. Trustor will notify Beneficiary of all demands, proceedings, claims, and actions against Truster, 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 tree for the Purpose of inspecting the Property. Beneficiary shall give Tmsmr notice at the tine of or before an inspection specifying a reasonable purpose for the insQection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Truster will in no way rely on Beneficiary s inspection. 11. AUTHORITY TO PERFORM. If Truster fails to perform any duty or any of the covenants contained in this Security Instrument, Beneficiary may, without notice, perform or cause them in be performed. Truster appoints Beneficiary as attorney in fact to sign Taster's name or pay any amount necessary for performance. Beneficiary's right in perform for Trustor shall not create an obligation in 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. If 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 completion of the construction. 12. ASSIGNMENT OF LEASES AND RENTS. Tastor irrevocably grants, conveys and sells to Trustee, in last for the benefit of Beneficiary, as additional security all the 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 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 "Rena "). Truster 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 Tmstor is not in default under the terms of this Security Instrument. Trustor acknowledges that this assignment is perfected upon the recording of tlds Deed of Trust and that Beneficiary is entitled to notify any of Taster's tenants to make payment of Rents due or in became due to Beneficiary. However, Beneficiary agrees dal only on default will Bereficiary notify Trusor and Tr ster's tenants and make demand that au future Rents be paid directly to Beneficiary. On receiving notice of default, Trustor will endorse and deliver to Beneficiary any payment of Rents in Trusmr's possession and will receive any Rents ri treat for Beneficiary and will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Inmunient. Truster warrants that no default exists under the Leases or any applicable landlord /tenant law. Trustor also agrees to maintain and require any tenant to comply with the loons 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 leasehuld. If the Property includes a unit in a cotdomrdunn or a planned unit development, Truster will perform all of Tmsmr's duties under the covenants, by -laws, or regulations of the condominium or planned unit development. (page 2ofd) © 12& BmF m Systems, Ito- al. Cloud, MN u.8003072at11 ram RE Runt 1 N27W ®10-C N') t.)