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<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, orother evidence of debt executed by Trustorin favor of Beneficiary after this
<br />, Security Instrurneilt whether or not this Security Instrument isspecificaUy referenced. If more than'6n{(person signs
<br />this, Security Insttument',each' Trustor.,llg~ees that thi~Secu~ity Instl1l111ent will Secure ail futUrearly,ances' arrd future
<br />"obligations that are', given' to "or lric1.l,rted'1)y ,any' one 'or More' Trustor,', Or ,'anY,one or more tnlSt6j-~nd,,' others. All
<br />future advances, and otherfuturepbHgations :lre'secuiedby' this'Sedirltylnstruwent eventhol1gh ~,fpfpart may, not
<br />yetbc advanced!' An'futUtl'fildvatites"i\:Ad'bther:futi.m~ obligatibhkitresecuredas if made on the'da(eof this'SecUrity
<br />Instrument; Nothing in this SecurityInsttUm~nt shall constituteacoitlinitment to make additionlllor futurl:i'1oans or
<br />advances in any amount.' Any suchcommitmeht must be agreed to' in a separate' wtiting. '
<br />C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including,
<br />but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and
<br />Beneficiary.
<br />D. AU additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />~he PfgparWai1&its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br />Security Instrument.
<br />This Security Instrument will not secure any, other debt if Beneficiary, fails to give any required notice ,.of the right of
<br />rescission. ' , , " " ' " .,
<br />5, PAYMENTS. 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.
<br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br />sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<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, Trustoragtees:
<br />A. To make all payments whendue arid to pet'fonl1 or comply With all covenatHs. ,,'
<br />B. To promptly deliver to Beneficiary'3l}yinotieeSthat TruStOrrec,eivesftolll the holder, ',' " "', '," "'e
<br />C.' Not, to 'allow any rriodifid(dbnBreii~t'1~iol1 :6f,'hot'1(j' n!:qu~st:a1iy , future' adv'ancestihder,anyri6te. or agreement
<br />" secured by the lieI):document wlthott'Bertefici'ary"sprior,'\Vritten'ton'sent.', . .',., " , '", ". ',., ',' ", ,.'
<br />'.' 8 ~ c, 'CLAIMS.A GAINST TITLE;' Trusiorwili i#Y'all takes,' ,a'ssessments:,' Iiehs, , encumbrances, .lease' payments l gtound rents,
<br />I. "utilities,'and'other charges relating to the 'Property when dUe. Beneficiary 'tuay require Trustor to provide to BenefIciary
<br />copies bf all notices that such amounts' are due and the receipts evidenCing Trustor'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 maintain or improve the Property;
<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 creation of, or contract for the creation of, any lien, encumbrance, transfer or
<br />sale of the Property. This right 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.
<br />10. PR.OP,ERTYCONDITIONjAL'tR.RATloNS ANDINSPEC1'!lON;'1'tnst6r""7mI~eep ltrePropettyin goOl.1c.:bnditiOn
<br />and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or
<br />deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the
<br />nature of the Occupancy and use will not subst<i\1tiallychange without Beneficiary's prior written consent. Trustor will not
<br />permit any change in any license, restrictive covenant or easement wit,hout Beneficiary's prior written consent. Trustor will
<br />notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the
<br />Property. 1
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enterthe Property at any reasonable time for the purpose
<br />of inspecting the Property. Beneficiary shall give Trustor notice at the 'time of orbefore an inspection specifying a
<br />reasonable purpose for the Inspectiofl.Anyinspection of the PropertY shall be entirely for Beneficiary's benefit and
<br />Trustor will in no way relyonBenefiCiaty'siilspec.:tion. ",' ,"" '",',' .,'.,,',..,., .',,' , ',' ,.'",,:,'.
<br />"11. AUTHORITY' TO PERFORM, If TrustC!F J~Hs,to,p~rfornl any,Auty',qr ,anY, oft:Pe covellants ,contaip.t:dip. this Security
<br />" InstrtiII1ent,Beneficiary, may ,~ithour,;p.~ti~~~'.,pef,fort,i1,()r caust:\Jhl(m)9.be,p~rfo1;llled, .'X':rustor, appoinrs"Bepeficiary as
<br />'." "attoTneYi~: fact to sign"Tn,tstClr:;si ~,~m~:I~(,~~Y,..~Yf!P10Ul1t ,~~pe,~saryJof,perforinanc~, '., B.eneficiary' s right to pe~form for
<br />Trustor shall not createan6bhgatlon .toI'~r,f?rm, and BeneflcllU'Y'~. fatlu~eto perform wlH not preclude Beneficiary from
<br />exercisilfg anyofBeneficiary'sother rightsunder the law or this Security Instrument. If any construction on the P:operty
<br />is discontinued or not carried. on in a reasonable manner, Beneficiary may take all steps necessary to protect BenefiCiary's
<br />security interest in the Property, including completion of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, in trust for the
<br />benefit of Beneficiary as additional security all the right, title and interest in the following (all referred to as Property):
<br />existing or future leases, subleases. licenses, guaranties and any other written or verbal agreements for the use and
<br />occupancy of the Property, including any extensions, renewals. modifications or replacements (all referred to as Leases);
<br />and rents, issues and profits (all referred to as Rents). In the event any item listed as Leases or Rents is determined to be
<br />personal property, this Assignment will also be regarded as a s~curity agreement. ~rustot will proinptly pr?vide
<br />Beneficiary with copies of the LeaseS mid will Certify these Leases are true and correct copies. The eXistmg Leases wlll be
<br />provided on execution of the Assignment, and all future Leases and any other information with respect to these Leases will
<br />be provided immediately after they are executed. Trustor may collect, receive, enjoy and use the Rents so long as Trustor
<br />is not in default.
<br />Upon default, Trustor will receive any Rents in trust for Beneficiary and will not commingle the Ren~s with any ot~er
<br />funds. Trustor agrees that this Security Instrument is immediately effective between Trustor and BenefiCiary and effectIve
<br />as to third parties on the recording of this Assignment. As long as this Assignment is in effect, Trustor warrants and
<br />represents that no default exists under the Leases, and the parties subject to the Leases have not violated any applicable law
<br />on leases, licenses and landlords and tenants.. , ',' , , " ' " ,,',' ',' ,.' ". ',' '<,' ,', ',.
<br />13. LEASEHOLDS' CONDOMINIUMS;PL~nlJl~l'r DEVELOPMENTS. tKUstor,agrees tOs?mply ,Wlth the
<br />. provisions of an; 'leasc'.if tliis ISe~1,lr~t~t~~t~me~f i<b~ a leas~h9ldn I(~he,Pr9per,tx}riqlu4~s:a.llIlit~n,;,~ cC!Il49rn.iIlium or a
<br />planned unit development, Trustor wtlt,g~rfgr,~.aIl9f Tl}lst()f's dlltles 11l1,qyr .t~e qQvenants,.by-IaWs, or reg1,llatlOns of the
<br />p:mdominium or planiled unitdevelopmeilt.....i:. .,; I
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<br />~ <i:l1994 Bankers Syslems, Inc., St. Cloud, MN form RE,OT,NE 1/30/2002
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