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200902886 B. All future advances from Beneficiary to Trustor or other future obligations of ~stor to Beneficiary under any promissory note, contract, guaranty, or other evidence of debt executed by Trostor m favor of Beneficiary executed after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs this Security Instrument, each Trustor agrees that this Security fustrument will secure all future advances and future obligations that are given to or incurred by any one or more Trustor, or anyone or more Trustor and others. All future advances and other future obligations are secured by this Security InstrumCllt cven though all or part may not yet be advanced. All future advances and other future obligations are 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 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 Bcncficiary 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 Beneficlary fails to give any required notice of the ri&ht of rescission. 5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of the Secured Debt and this Seci1rity InstrumCllt. 6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate convc.Y.ed 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 INTERESrS. With regard to any other mortgage, deed of trust, security agreement or other lien document that crested a prior security interest or encumbrance on the Property, Trustor agrees: A. To make all pa~ts when due and to perform 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 fC911C8tany future advances under any note or agrcentent secured by the lien document without Beneficiary's prior wnttcn consent. 8. CLAIMS AGAINST TITLE. Trustor will pay all taXes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may require Trostor to provide to Beneficiary copies of all notices that such amounts are due and the receipts cvldenclng Trustor's payment. Trustor will defend title to the ~ against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to Benefic. ,as ~ by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or IllS s to mamtain 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 or, !lr co~trsct for the creation of, any lien, encumbrance, tr~fer or s* of the Property. This right is subject to the restrictions tmooscdby federal law (12 C.P.R. .591), as applicable. This covenant shall- run with the Property and shall remain in eftect until the Secured Debt is paid in full ana this Security Instrument is released. 10. PROPERTY CONDITION, ALTERATIONS AND 1NSPECI10N. Trustor will keep the Property in good condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impainnent, or deterioration of the Property. Trostor 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 chanJle in any license, restrictive covenant or casement without Beneficiary's prior written consent. Trustor will noti!)' Benenciary of all demands, proceedings, claims, and actions against Trostor, and of any loss or damage to the Property. Beneficiary or Beneficiary's agents may, at Beneficill!Y's option, enter the Property at any reasonable time for the 'p'urp08C of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection speclfviilg a reasonable ~ for the iJ!spcction. Any inspection of the Property shall be entirely for Beneficlary's benefit and 1'ruSior will in no way rely on Beneficiary'S inspection. 11, AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument, Beneficiary may. without notice, perform or ClUlse them to be performed. Trustor ~points Beneficiary as attorney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary s right to perform for Trustor &ball not create an obligation to peIform, and Beneficiary's failure to perform will not preclude 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 Beneficisiy's security interest in the Property, including completion of the construction. 12. ASSIGNMENf OF LEASES AND RENTS. Trustor irrevocably grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, as additional security all the riJ;lht, title and interest in and to any and all exlsting or future leases, subleases, and any other written or verbal agreements lor the use and occupancy of any portion of the Property, including any extensions, renewals, mOdifications or substitutions of such agreements (all referred to as "Leases") and rents, issues and profits (all referred to as "Rents"). Trustor will promptly provide Beneficiary with true and correct copies of all existing and future Leases. Trustor may collect, recelve, enjoy and use the Rents so long as Trustor is not in default under the terms of this Security Instrument. Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is entitled to notify any of Trustor's tenants to make payment of Rents dUe or to become due to BenefICiary. However, Beneficiary agrees that only on default will Benefictary notify Trustor and Trustor's tenants and make demand that all future Rents be paid directly to Beneficillt}'. On receiving notice of def811lt, Trostor will endorse and deliver to Beneficiary any payment of Rents in Trustor's possessIOn and will receive any Rents in trust for Beneficiary and will not commingle the Rents with any other funds. Any amounts collected will be appliCd as provided in this Security Instrument. Trustor warrants that no def811lt exists ilnder the Leases or any applicable landlord/tenant law. Trustor also agrees to maintain and require any tenant to comply with the tenns of the Leases and applicable law. 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENfS. Trustor agrees to comply with the provisions of any lease if this SecuritY. Instrument is on a leasehold. If the Property includes a unit in a condominium 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. ~ cD 1984 0....... S'fIteml, Inc.. St. Cloud. MN Fa",,' AE-OT oNE 1130/2002 _ -C185INElI03011. III (~ Loan NUmber08-44-00~