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200512687 B. All f~ture advances from Beneficiary to Trusto.r or other future obligations of Trustor to Beneficiary under any pronnss.ory not~, contract, guaranty, or other eVidence of debt executed by Trustor in favor of Beneficinry executed after tlll~ Secu:lty, Inst.rument whether or ?~)t this Security Instrument js specifically r~ferenced. If more than one person sIgns th.ls S.ecunty Instnll~ent, each Tyustor agrees that tillS Secunty Instrument will secure all future advances and future obhgattons that are gIven to or mcurred by anyone or more Trustor, or anyone or more Trustor and others. All future advances and other future obligations nre secured by this Security Instrument 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 cOllunitment to make additional or fclture I.oan~ or advances in any amou~t.. Any su~h commitment must be agreed to in a separate writing. C. All ~bl~gatlOns 'Tr~s!~r owes to Beneflclary,. whIch may later arise, to the extent not prohibited by law, including, but not Itrnl.t~d to, habllttlCs for overdrafts relatl9g to any dep.osit ~c<;ount agl:eem<:nt bet.ween 'Trustor and B~nefi.c..iary... D. All addItIOnal sUf!ls advanced and expenses Illcurred by Beneftclary for Illsunng; preservmg or otherWIse protectmg the PI:operty and Its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this Secunty Instrument. Thi~ S.ecurity Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of reSCISSIon. 5. PAYMENTS: Trustor agrees th~t all payments under the Secured Debt will he paid when due and in accordance with the terms of the Secured Debt and thIS Secunty Instmment. 6. W A~RANTY OF TITLE. Tnt~tor warrants that Tmstor is or will be lawfully seized of the estate conveyed by this Secunty Jnstnllnent and has the right to irre,":ocably grant, convey, and sell the Property to Trustee, in trllst, with power of sale. Trustor also warrants that the Property IS unencumbered, except for encumbrances of record. 7. PRIOR SECURITY IN~EREST~. ~ith regard to any other mortgage, deed of trust, security agreement or other lien document that ereated a pnor secunty mterest or encumbrance on the Property, Trustor agrees: A. )::0 make all pay~nel1ts when ~lIy and to perform or comply with .all cqvenants. B. 10 promptly deliver to BenefICiary any notIces that Trustor recelves 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. Tmstor 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 the receipts evidencing Tmstor's payment. Trustor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or materials to mallltain or improve the Property. 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, any lien, encumbrance, transfer or sale of the Property. This nght is subject to the restrictions imposed by federal law (12 C.P.R. 591), as applicable. This covenant shall mn with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is rcleased. 10. PROPERTY CONIJITION, ALTERATIONS AND INSPECTION. Trustor wiIl keep the Property in good condition and make all repairs that are reasonably necessary. Tmstor 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 consent. Tmstor 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, proceedings, 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 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 insl?ection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will in no way rely on BeneficIary's inspection. 11. AUTHORITY TO I)ElUi'ORM. If Trustor fails to perform any duty or any of the covenants contained in this Security Instmmel~t, Benefici.ary may, without notice, perform or cause them to be performed. Tn~~t~)r appo}nls Beneficiary as attorney 111 fact to sIgn Trustor's name or pay any amount necessary for performance. BenetlcIary s nght to perform for Tmstor 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. If any construction on the Property is discontinued or not carried on in a reasonable maimer, 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. Trustor irrevocably grants, conveys ancl sells to Trustee, in trust 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 "Rents"). Trustor will promptly provide Beneficiary with true and correct copies of all existmg and future Leases. Trustor may collect, reccive, enjoy and use the Rents so long as Tmstor is not in default under the terms of this Security Instmment. Tmstor acknowledges that this assignment is perfected upon the recording of this Deed of Tmst and tl~a~ Beneficiary is entitled to notify any of Trustor's tenants to make payment of Rents due or to become due to Beneftclary. However, Beneficiary agrees that only on default will BenefiCIary notify Tmstor and Trustor> tenants and ma~e demand tI~a~ 1111 future Rents be paid d\rectly to Beneficiary. On rec?iving 1.1Otice of defal~lt, Trustor WIll e.Il~lorse and ~eltver to Bel~eflclary any payment of Rents III Tmstor's possessIon and wll~ receIve a!lY Rents Il~ trus! for.Beneflclary and WIll n~t, commll1gle the Rents with any other funds. Any amounts collected WIll be applted as provlded III tillS Secunty Instrument.. 1 r~lstor warrat}ts that no default exists under the Leases or any applicable landlordltenant law. Trustor also agrees to mall1tall1 and reqUIre any tenant to comply with the terms of the Leases and applicable law. 13. LEASEHOLDS; CONDOMINIUMS; PI,ANNED UNIT DEVELOPMENTS. :rl"Ustor agre~s. to comply. ,;"ith the provisions of any lease if this Security Instrument is on a leasehold. If the Property lI1cludes a Ulllt m a condoIl1.lIllUm .or It planned unit development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulatlons ot the condominium or plalUled unit development. E.x:{5~ 0 1994 Benkers System., Ine" St. Cloud. MN Form RE-DT-NE 1/30/2002 . -C165(NE) (03011 <!l (page 2 of 4J Yp~JI. s~/yI-f-