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200808146 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 Bcneficiary after this Security Instrwnent whether or not this Security Instrument is specifically refercnced. If more than one person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by anyone or more Trustor, or anyone or more Trustor and others. All future advances and other future obligations arc secured by this Security Instrument evcn though all or part may not yet be advanced. All future advances and other future obligations arc secured as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate writing. C. All obligations Trustor owes to Beneficiary, which may latcr 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 Be~tfici~ry... . D. All additional sums advailced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting the Property and ils value and any other swns advanced and expenses incurred by Beneficiary under the tenns of this Security Instrwnent. This Security Instrument will not secure any other debt if Beneficiary fails to give any rcquired notice of the right of rescission. 5. PAYMENTS. Trustor agrees that all paymcnts under the Secured Debt will be paid when due and in accordance with the tenns of the Secured Debt and this Security Instrwnent. 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 encwnbrances of record. 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agrecment or other lien document that created a prior security interest or encumbrance on the Property, Trustor agrees: A. To make all payments whcn due and to perfonn or comply with all covcnants. B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder. C. Not to allow any modification or extension of, nor to request any future advances undcr any notc or agrecment secured by thc lien docwllent without Beneficiary's prior written conscnt. 8, CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease paymcnts, ground rcnts, 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 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 rcquested by Bencficiary, any rights, claims or dcfcnses Trustor may have against partics 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 balancc of the Secured Dcbt to be immediately due and payable upon the creation of, or contract for the creation of, any lien, enewnbrance, transfer or sale of the ProperlY. This right is subject to the restrictions imposed 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 , _'u _ .lnstruml;nt is released. _ 10. PROPERTY CONDITION, ALTERATIONS AND INSI)ECTION. Trustor will keep the Property in good condition and make all rcpairs that arc reasonably necessary. Trustor shall not commit or allow any waste, impainncnt, 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 eascment 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 reasonablc time for the purpose of inspecting the Property. Beneficiary shall give Trustor noticc at the timc 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 rcly on Beneficiary's inspection. 11. AUTHORITY TO PERFORM. If Trustor fails to perfonn any duty or any of the covenants contained in this Security Instrument, Beneficiary may, without notice, perfonn or cause them to be perfonned. Trustor appoints Beneficiary as attorney in fact to sign Trustor's name or pay any amount necessary for perfonnance. Beneficiary's right to perfonn for Trustor shall not create an obligation to perfonn, and Beneficiary's failure to perfoon will not prcclude 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 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 cvent any item listed as Leases or Rents is deteonined to be personal property, this Assignment will also be regardcd as a sccurity agrecmcnt. Trustor will promptly providc Beneficiary with copies of the Leases and will certify thesc Lcases arc true and correct copies. The existing Leases will be provided on execution of the Assignment, and all future Leases and any other infomlation with respect to these Leases will be provided immediately after they arc executed. Trustor may collect, rcceive, cnjoy and use the Rents so long as Trustor is not in default, Upon default, Trustor will receive any Rents in trust for Beneficiary and will not commingle the Rents with any other funds. Trustor agrees that this Security Instrument is immediately effective betwecn Trustor and Bcneficiary and effective as to third parties on the recording of this Assignlllent. As long as this Assignlllent 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 cc;nply with the provisions of any lease if this Security Instrument is on a leasehold. If thc Property includes a unit in a condominiwll or a planned unit development, Trustor will perfoon all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned unit development. (page 2 of 4) ~:: @ 1994 Sonkors Systoms, Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002