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. . 200512688 B. All future advances from Beneficiary to Trustor or other future obligations of T~stor to Beneficia~y under any promissory note, contract, guaranty, or other evi.dence o~ debt executed .by T~s~or In fa,:"or of Beneficiary executed after this Security Instrument whether or not thIS Secunty Inst~ment .IS speclflCally r~ferenced. If more than one person signs this Security Instrument, each Trustor agrees that thIS Secunty Instrument will secure all future advances and future obligations that are given to or incu~red. by anyone or more Trustor,. or anyone or more Trustor and others. All future advances and other future obligatIOns are secured by thiS Secunty Instrument even though all or part may ~ot yet be advanced. All futur~ advanc:es and other future obliga.tions are secu.red as if made on t~e. date of this Secunty Instrument. Notlung 111 thiS Secunty Instr!lment shall constitute a .colIullltment to. I?ake addltlonal or future loans or advances in any amou~t.. Any su~h COllllmtment !!lust be agreed to 111 a sep.ar.ate wntll1g. . . C. All obligations Trustor owes to BeneficIary,. which may late~ anse, to the extent not prohibited by law, ll1cl~d!ng, but not limited to, liabilities for overdrafts relatll1g to any deposit ac~ount ag~eem~nt between Trustor and B~neflclary.. D. All additional sums advanced and expenses incurred by BenefiCiary f<?r lllsunng, preserv!ng or otherWise protectl~g the Property and its value and any other sums advanced and expenses Incurred by BenefiCiary under the terms of thIS Security 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 that all payments under the Secured Debt will be paid when due and in accordance with the tem1S 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 t~e Property, Trustor agrees: A. To make all paYl)1ents when du~ and to perform or comply with .all covenants. B. To promptly deliver to BenefiCiary any notlCes 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, 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 reccipts evidencing Trustor'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 mall1tain 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 ~nd paya~le up<?n the creation of, ?r co~tract for the creation of, any lien, encumbrance, tra!1sfer or sa~e of the Property. ThIS nght IS subject to the restnctlOns unposed 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 the Property in good condition and make all rcpairs that are reasonably necessary. Trustor shall not commit or aIlow any waste, impairment, or deterioration of the Property. Trustor wiIl 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. Trustor 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 Trustor, and of any loss or damage to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, entcr the Property at any reasonablc 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 Beneficiary's benefit and Trustor will in no way rely on Beneficiary's inspection. 1I. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument, Beneficiary may, without notice, perfonn or cause them to be performed. Trustor appoints Beneficiary as attorney in fact to sign Trusto(s ~ame or pay any amount I~~ess~ry ~or performance. B~neficiary's right to pe~form for Trustor shaIl not create an obltgatlOn to perform, and BeneflCiary s fmlure to perform Will not preclude BenefiCiary from exercising any of Beneficiary's other rights under the lawor this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable mmmer, Beneficiary may take all steps necessary to protect Benehciary's security interest in the Property, including completion of the construction. 12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably grants, conveys and seIls 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 an? profits (all referred to as "Rents"). Trustor w!ll prol!1ptly provide Beneficiary with true and. corre~t copies of all eXlstlllg 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 perfectcd upon the recording of this Deed of Trust and that Beneficiary is 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 Trustor and Trustor's tenants and make demand that all future Rents be paid directly to Beneficiary. On receiving notice of default, Trustor wiIl endorse and deliver to Beneficiary any payment of Rents in Trustor's possesslOn 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 Imldlord/tenant law. Trustor also agrees to maintain and require any tenant to comply with the terms of the Leases and applicable law. 13. LEASEHOLDS; CONDOMINIUMS; I)LANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the provisions of any lease if this Security Instnunent is on a leasehold. If the Property includes a unit in a condominium or a planned unit development, Trustor will perform all of Trustor's duties under thc covenants, by-laws, or regulations of the condominium or planned unit development. ~f'tJ: 0 1994 Bankers Systems, Ine" St. Cloud. MN Form RE.DT.NE 1/30/2002 .. -C165(NE) (0301) <!> (page 2 of 4) -::r (J.W ,c A-cJ