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201003827 $. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any promissory note, cnntract, guaranty, or other evidence of debt executed by Trustor. in favor of Beaeficiary after this Security Instrument whether or not this Security Instrument is specifically referenced. If more thaa one person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances and future obligations that are given io or incurred by any one or more Trustor, or any oae 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 are secured as if made an 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 amonni. Any such commitment must be agreed to in a separate writiag. C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, iacluding, 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 insuriag, 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.. S. PAYMENTS. Trustor agrees that all paymeats under the Secured Debt will be paid when due and in acenrdaace with the terms of the Secured Debt and this Security Instrument. 6, WARRANTY OF TTTLE. 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, aad sell the Property to 'T'rustee, in trust, with power of sale. Trustor also warrants that the Property is unencumbered, except for encumbraaces of record. '7. PRIOR SECURTTY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest ar encumbrance on the Property, Trustor agrees: A. To make all paymeats when due and to perform or comply with all covenants. B. To promptly deliver to Beneficiary any notices that 'I'rustar receives from the holder. C. Not to allow aay modification or extension of, nor to request any future advances under any note or agreement secured by the lien docurneat without Beneficiary's prior written 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. Beaeficiary 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 Instrumeat. Trustor 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 eatire balance of the Secured Debt to be immediately due and payable upon the creation of, or cnntract for the creation of, any lien, encumbrance, transfer ar sale of the Property. 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 Instrument is released. 10. PROPERTY CONDITION, ALTERA~i'IONS" ACID WINS~E~TILON. "T'rustor will keep the Property in good condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, 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, clauns, and actioas against Trustor, ,and of any loss or damage to the Property. Beneficiary or $eneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of inspecting the Property. $eneficiary shall .give Trustor antice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspectioa cif the Property shall be entirely for Beneficiary's benefit aad Trustor will in no way rely on Beneficiary's inspectioa. 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 .cause them to be performed. Trustor appoints Beneficiary as attorney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary's right to perform for Trustor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising aay of Beneficiary's other rights under the law or this Security Iastrument. If any constructioa nn the Property is discontinued or aot 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 nr replacements (all referred to as Leases); anal 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 Assignment will also be regarded as a security agreement. Trustor 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, aad all future Leases and any othertnformatian with respect to these Leases will be provided immediately after they are executed. Trustor may collect, receive, enjoy aad 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 between Trustor and Beneficiary and effective as to third parties oa 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; CONDOMINHJMS; PLANNED UNTT DEVELOPMENTS. 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 condorniniurn or a planned unit development, Trustor will perform all of Trustor's duties under the covenants,. by-laws, nr regulations. of the condominium or planned unit development. (page 2 of 4J Per "' C~ 1994 Bankers Systems, Inc., St, Cloud, MN Form RE-DT-NE 1!30!2002