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<br />200600765
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<br />B. All t~ture advances from Benet1ciary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />pronllssory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary executed
<br />after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one
<br />person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances
<br />and future obligations that are given to or incurred by anyone or more Trustor, or anyone or more Trustor and
<br />others. All future advances and other future obligations are secured by this Security Instnllnent even though all or
<br />part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of
<br />this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or
<br />future loans or advances in any amount. Any such commitment must be agreed to in a separate writing,
<br />C. All (~bl~gations Tn~s!<"!r owes to Beneficiary,. which may late~ arise, to the extent not prohibited by law, including, but
<br />. not Illlll,t~d to, liabIlitIes for overdrafts rei. at]~]g to any deposit ,!c<;ount agl:eem<:nt between Trustor.and Beneficia.ry.
<br />D. All addItIOnal sums advanced and expenses mcurred by BenehClary for Illsunng, preservlllg or otherwise protecting
<br />the P~operty and its value and any other sums advanced and expenses incurred by Beneliciary under the terms of this
<br />Secunty Instrument.
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<br />Thi~ S.ecurity Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of
<br />reSClSSlOn.
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<br />5. PAYMENfS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
<br />terms of the Secured Debt and this Security Instrument.
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<br />6. W A~ANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Secunty Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in tnIst, with power of
<br />sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
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<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement
<br />secured by the lien document without Beneficiary's prior written consent.
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<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary
<br />copies of all notices that such amounts are due anclthe receipts evidencing Tmstor's payment. Trustor will defend title to
<br />the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor
<br />or materials to mamtain or improve the Property.
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<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be immediately due and payable upon the creatioll of, or contract for the creation of, any lien, encumbrance, transfer or sale
<br />of the Property. This nght is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This
<br />covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security
<br />Instrument is released.
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<br />10. PROPERTY CONmTION, ALTERATIONS ANI) INSPECTION. Tmstor will keep the Property in good condition and
<br />make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of
<br />the Property, Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the
<br />occupancy and use will not substantially change without Beneficiary's prior written COllsent. Trustor will not permit any
<br />change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify
<br />Beneliciary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
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<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose
<br />of inspecting the Property. Beneficiary shall give 'I'rustor notice at the time of or before an inspection specifying a
<br />reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor
<br />will in no way rely on Beneficiary's inspection.
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<br />11. AUTHORITY TO IJERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security
<br />Instrument, Beneficiary may, without notice, perform or cause them to be performed. Tmstor appoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary's right to perform for
<br />Trustor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from
<br />exercising any of Beneficiary's other rights under the law or this Security Instrument. If any construction on the Pn~p~rty is
<br />discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Benehcwry's
<br />security interest in the Property, including completion of the construction.
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<br />12. ASSIGNMENT OF LEASES AND RENI'S. Trustor irrevocably grants, conveys ami sells to Tmstee, in trust for the
<br />benet1t of Beneficiary, as additional security all the right, title and interest in and to any an~ all existing or futu~e Ieas~s,
<br />subleases, and any other written or verbal agreements fiJr the use and occupancy of any portIOn of tbe Property, Illcludmg
<br />any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases") and rents, is~ues
<br />and profits (all referred to as "Rents"). Trustor will promptly provide Beneficiary with true and correct copies ot all
<br />existing and future Leases. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not in default under
<br />the terms of this Security Instrument.
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<br />Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and tl;a! Beneficiary is
<br />entitled to notify any of Trustor's tenants to make payment of Rents due or to become due to BenehClary. However,
<br />Beneficiary agrees that only on default will Benet1Clary notify Trustor and Trustor'.s tenants and ma~e demand tI~a~ all
<br />future Rents be paid directly to Beneficiary. On receiving notice of defa~lt, Trustor WIll <:.n9orse and c!ellver to Ber.leflcwry
<br />any payment of Rents in Trustor's possession and wil~ receive a!lY Rents II~ trus~ for. Bepeftc.Jary and WIll n~t, commlllgle the
<br />Rents with any other funds. Any amounts collected Will he apphed as proVided mthls Secunty Instrument.. Ir~stor Warral?ts
<br />that no default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees to mamtatn and reqUIre
<br />any tenant to comply with the terms of the Leases and applicable law.
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<br />13. LEASEHOLDS: CONDOMINIUMS; IJLANNED UNIT DEVELOPMENTS. !'rustor agre~s. to comply. ~ith the
<br />provisions of any lease if this Security. Instrument is on a leasehold. If the Property mcludes a umt 10 a condom,llllUm or a
<br />planned unit development, Trustor Will perform all of Tmstor's duties under the covenants, by-laws, or regulal10ns of the
<br />condominium or planned unit development.
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<br />E~ 01994 Bankers Sys'OIns.lnc.. St_ Cloud. MN Form RE-Df-NE 1/30/2002
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<br />.. -C165(NE) 1030l}
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