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200901086 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 Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs this Security Instrwnent, each Trustor agrees that this Security Instrwnent will secure all future advances and future obligations that arc given to or incurred by anyone or more Trustor, or anyone or more Trustor and others. All future advances and other future obligations are secured by this Security Instrument even 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 Instrwnenl. 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 later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to allY deposit account agreement between Trustor and Beneficiary . D. All additional swns advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurrcd by Beneficiary undcr the tenns of this Security Instrwnent. This Security Instrument will not secure any other dcbt if Beneficiary fails to give any required notice of the right of rescission. 5. PAYMENTS. Trustor agrees that all payments under the Sccured Dcbt will be paid when due aud in accordauce with thc terms of the Secured Debt and this Security Instrwllent. 6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully scized of the estate conveyed by this Security lnstrwnent and has the right to irrevocably grant, convey, and sellthc Property to Trustcc, in trust, with power of sale. Trustor also warrants that the Property is unencwnbered, exccpt for encwnbrances of record. 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, sccurity agreement or other lien docwnent that created a prior security interest or encumbrancc on the Property, Trustor agrees: A. To make all paymeuts when due and to perfonn or comply with all covenants. 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 under any note or agreement secured by the lien docwnent without Beneficiary's prior written consent. 8. CLAlMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encwnbrances, 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 receipts evidencing Trustor's payment. Trustor will defend title to the Property against any claims that would impair the lien of this Security Instrumcnt. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or dcfenses Trustor may havc 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 Instrwnent is released. 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition and make all repairs that are reasonably necessary. Trustor shall not COlllmit or allow any waste, impainnellt, 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 permit 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 Beneficiary's inspection. 11. AUTHORITY TO PERFORM. If Trustor fails to perfonn any duty or any of the covenants contained in this Security Instrwnent, Beneficiary may, without notice, perfonn or cause them to be perfonned. Trustor appoints Beneficiary as attorney in fact to sign Trnstor's name or pay any amount necessary for perfonnance. Beneficiary's right to perfonn for Trnstor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or this Security Instrwnent. 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 convcys, to Trustee, in trust for the benefit of Beneficiary as additional security all the right, title aud interest in the following (all referred to as Property): existing or future leases, subleases, licenses, guaranties and any other writtcn 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 determined to be personal property, this Assigll1llent will also be rcgarded as a security agreement. Trustor will promptly provide Beneficiary with copies of the Leases and will certify these Leases arc true and corrcct copies. The existing Leases will be provided on execution of the Assigll1llcnt, and all future Leases aud any other infonnation with rcspect to these Leases will be provided immediately after they are executed. Trustor may collect, receive, 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 Rcnts with any other funds. Trustor agrees that this Security Instrwnent is inunediately etIective between Trustor and Beneficiary and effective as to third parties on the recording of this Assigll1llenl. As long as this Assigmnent is in effect, Trustor warrants aud represents that no default exists under the Leases, and the parties subject to the Leascs have not violated any applicablc law on leases , licenses and landlords and tenants. 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the provisious of any lease if this Security Instrwnent is on a leasehold. If the Property includes a unit in a condominiwn or a planned unit development, Trustor will perform all of Trustor's dutieS under the covenants, by-laws, or regulations of the condominium or planned unit development. (page 2 of 4) E.x:{5i2iTJ: @1994 Banko" Sy.tom., Inc., St. Cloud, MN Form RE-OT-NE 1/30/2002 ". 't', 'j.., "