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200805656 B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after this Security Ins~rument whetherp~noqhis Security Instrument is specifically referenced. If more than one person signs this,Se.::urity InstlUment, each Trustor.:agrees thatthis Security Instrument will secure all future advances and future obligations that are given to or in~Hrr~~ ~yany ,one or more ThIstor, :.or apY,one or more Trustor and oth~rs. All future ~dvances. fiIldother.,i}ttureobligl'l,tlOl;l.S are secured, py thi~:~ec,tiritylnstrument,even.though,all...or,part may not yet: be advanced . ,All .futureadyaricesand. other futl.lr~ obligatiOns, ar~secured asifmade, on the date of this, ~ecurity Instrument, Nothing in this Security . InstI1.).mel;1t shill cons~itute.a,conunitment to make. additional or'future.loans or advances in any amount. Any such conunitment must be agreed to in a sepl'irate'writing. ' C. All obligations Trustor Owes to Beneficiary, which may later arise, to the extent not 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 thatali payments under the SecuredDebt'~i1i be paid when due and in ac~ordance ~ith 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, Trustor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Benefieiary any notices that Trustorrecei\ies from the holder. C. Not t? allow any . triodi~catibn or' extension of, nor'torequestAnyfuture'advances under any note or agreement secured by the lien document without Beneficiary's prior written consent: , .. ..' ...', ....... 8, CLAIMSAG~ST T1TLK Tt;Ustoiwillpayall taXes, assessments/liens,encumbrances, lease payments, ground. rents, utilities, and other charges' relating to the Property when due.13eneficiary may require Tmstor to provideloBeneficiary copies of all notices thatsuch amounts are due and thereceiptsevi4enc:ingTmstor's payment. Trustor will defend. title to the Property against any c1aiinsthat would impair the lien. of this Security, Instrument. Tmstor 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 maintain 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 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 Instmment is released. 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION, Trustor will keep the Property ingood condition and make all repairs t11a( are 'teasonably necessary. trustor shall not comnlitor allow any waste; ini.pairment, 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. Trustor will not pennit any change in any license, restrictive covenant or easement 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, 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 inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will in no way rely on B~neficiary's inspection. ll,AUfHORITY TO PERFORM, If Trustor fails to perform any duty ,or any of the covenants contained in this Security Instrument, IkneHciary. may, without. notice, p~r(or!ll or cause. t4em., to . be performed.. Trustor appoints Benl(ficiary as attorneyiil fact to sigl).Trustor'~ name or pay any ,amount necess\\ry for performance, Beneficiary's right to perform for Trustor shall not create an obligation :toperform, and Beneficiary's failure ,to pe;:rformwillnot preclude Beneficiary from exercising any of Beneficiary's ()ther rights under the law or this Security Instmment,liany constmction 011 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, Trustor irrevocably assigns, grants and conveys, to Trustee, in trust for the benefit of Beneficiary as additional security all the right, title and interest in the following (all referred to as Property): existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and occupancy of the Property, including any extensions, renewals, modifications or replacements (all referred to as Leases); and rents, issues and profits (all referred to as Rents). In the event any item listed as Leases or Rents is detennined to be personal property, this Assignment will also be regarded as a security agreement. Tmstor will promptly provide Beneficiary with copies of the Leases and will certifY these Leases are true and correct copies. The existing Leases will be provided on execution of the Assignment, and all future Leases and <lny other information with respect to theSe;: Leases will be provided immediately after they are executed, Trustor may collect, receive, cnjoy and use the Rents SO)9P:g"asTrustor is not in default. Upon default, Trustor will receive any Rents in trust for Beneficiary and will not conuningle the R~n~s with any o~er funds. Trustor agrees that this Security Instrument is immediately effective between Trustor and BenefiCiary and effective as to third parties on the recording of this Assignment. As long as this Assignment is in effect, Trustor warrants and represents that no default exists under the Leases, and the parties subject to the Leases have not violated any applicable law on leases, licenses and landlords and tenants.. .... ... . 13, LEASEHOLDS' CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS, Trustor agrees to comply with the "" ',':' ',' " ' : \', ,,' " ',', " , provisions of any lease Oifthis Security Instrul11ent is on aleasehold. Ifthe Propertyincl~des aunit in acondom!nium or a plarined uriit development, 'trustor will perform all of Trustor's duties under the covenants, by~laws, or regulatiOns of the condominium or planned unit development. . ~ rk~' ~ rtJ 1994 Banka,s Systams, Ino" 51, Cloud, MN Fo,m RE-DT-NE 1l30l2002