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200209666 B. All future advances from Beneficiary to Trustor or other future obligations of Truslor to Beneficiary under any promissory note, contract, guaranty, or other evidence of debt executed by Truster 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 Trustor agrees that this Security Instrument will secure all future advances and future obligations that are given ro or incurred by any one or more Trustor, or any one or more Trustor and others. All future advances and other, future obligations are secured by this Security Instrument even though at 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 commitment to make additional or future loans or advances in any amount. Any such comnttmem must 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 Tinted 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 awns advanced and expenses incurred by Beneficiary under the terms of this Security Instrument This Security Instrwnent will not secure any other debt if Beneficiary fails to give any required notice of the right of rescission. 5. PAYMEN'T'S. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the irons 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 Ibc right to irrevocably gram, convey, and sell the Property to'I'rustee, in cost, with power of sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record. 7. PRIOR SECURITY IN'T'ERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that errand it prior security interest or encumbrance on the Property, Trustor 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 doemnent without Beneficiary's prior written consent. S. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease 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 line receipts evidencing Trustor's payment. Trustor will defend title to line Property against any claims that would impair the lien of this Security Instrument. Treanor agrees to assign to Beneficiary , as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor ,it materials to maintain or improve the Property. 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, decline the 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.P.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. Tmstor 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 grass". Trustor agrees that the nature of the occupancy and use will not ,uhsmnlially change without Beneficiarryy s prior written consent. Trustor will not permit any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Tmstor will notify Beneficiary of all demands, proccedings, claims, and actions against 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 line for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the dome of or before an inspection spec mg a reasonable purpose for the inspection. Any inspection of the Property shat be entirely for Beneficiary's bene d and Trustor will in no way rely on Beneficiary's inspection. 11. AUTHORITY TO PERFORM. if Trustor fails to purfonn any duly or any of the covenants contained in this Security Instrument, Beneficiary may, without notice, perform or cause them to be �erfonned. Trustor appoints Beneficiary as attorney in fact to sign Truster's name or pay any amount necessary for perfonhance. Beneficiary's right to perfomt for 'Tmstor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising coy of Beneficiary's other tights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable reamer, Beneficiary may take all steps necessary to protect Beneficiary's security interest in the Property, including completion of the constructiml. 12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, as additional security ail 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 extrusions renewals, modifications or substitutions of such agreements (all referred to as "Leases ") and rents, issues and profits (all referred to as "Rents "). Truster will promptly provide Beneficiary with fine and correct copies of all existing and future Leases. Trustor may collect, receive, enjoy and use the Rents an long as Trustor is not in default under the tenets of this Security Instrument. Tmstor acknowledges that this assignment is perfected upon the recording of this Deed of 'Trust and that Beneficiary is emitted 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 Trustor and Trustor's lenau[s and make demand that at future Rents be paid directly to Beneficiary. On receiving notice of default, Trustor will endorse and deliver to Beneficiary any payment of Rents in 'Irustor'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 applied as provided in this Security Instr niem. Trustor warrants that no default exists under the Leases OT any applicable landlord/lentint law. Trustor also agrees to maintain and require any tenant to conmply with the tenets of the Leases and applicable law. 13. LEASEHOLDS; CONDOMINIUMS- PLANNED UNIT DEVELOPMENTS. Truslor agrees to comply with the provisions of any lease if this Security Inslri rent is on a leasehold. If the Property includes a unit in a condominium or a planned unit development, Truster will perform all of'1'msfor's duties under the cov ntols, by -laws, or regulations of the condominium or planned unit dcvclopmcnl. /page 2 0f 41 ®188�aenMen SYelamv.Irc.. St CbuO. MN 11 b00d9] -03611 Fmm FE OT -NE 1012]/9]