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<br /> B. All futurc advances from L.end�r to(ir+►ntor or othcr future obli�ations of Grantor to l.cnder uncicr uny prumissory �.
<br /> nate,contrnct,guaranty,or othec evidence of debt executcd by Grantor in favar of I..ender executed nfter this �<
<br /> Sccurity Instrum�nt whcther ar not thls Sccurity Instrumcnt is specifically referenccd, If more than one person ='
<br /> signs this Securi�y lnstrument,euch C3rnntor ngrecs that this Security Instrument will secure all fWure ndvc�nces and �ri�
<br /> futurc abligatians that nrc given to or incurrcd by any onc or morc (3rantor, or any onc or mnrc Ornnt�r nnd
<br /> othcrs,f4p tuture advnnces and other futurc oblig��tions are secured by this Security Instruenent even thaugh All or ��.,;
<br />� qart muv not vet be advanced.AQ tuturc advances and�ther futurc abligations are securcd As if mauc un tlu:clia� `
<br /> of this Securi[y Insirument.i�otninb in ltu�SectU�ity insiru�ent shatl constftutc a commc.enent to mare;suaitionni �_
<br /> or future loans or advanccs in any amount.Any such commitment must be aSreed to in a separate wridn�. _
<br /> C. All ubligations Grantor owes to Lendcr,which may later arise,to the extent not prohibited by law,including.but --
<br /> not Ilmited to,liabilities for overdrafts rclating to any deposit account agrecment between Grantor and I..ender.
<br /> D. All additionnt sums advanced and expenscs incurred by Lender for insuring,preserving or otlienvisc protccting —.
<br /> the Proper�y and its value and any ather sums advanccd and expcnscs incuncd by Lender under the terms�nf --_
<br /> this Security Instrament. -
<br /> This Security Instniment will not secure any oilier debt if Lendcr fails to give any required notice of the right of rescission.
<br /> 5. PAYM�NTS.Grantor agrees that all payments uncler the Secured Debt will be paid when due and in accordance
<br /> with tae terms of the Securcd Debt and ti►Is Secu►i►y Instrument. �
<br /> 6. WARRANTY OF 7C1TLE.C3rantor wanants that Grantor is or will be lawfully seized of the estate cunveyed by this
<br /> Security Instrument and has the right to irrevocably grant,convey,and sell the Property to Trustee,in trust, with
<br /> power of saie.Grnntor also wanants that the!'roperty ts unencumbered,except for encumbrances of record. �
<br /> '/. PRIOR SECURITY IIVTEREST9.With regard to any other mortgage,deed of trust,security agreement or other lien
<br /> document thnt created a prior security interest or encumbrAnce on the Property,Grantor agrees:
<br /> A. To make all payments when due and to perform or comply with all covenants.
<br /> B. To prompdy deliver to L�:nder any notices that Grantor receives from thc holder.
<br /> C. Not to allow any modification or extension of,nor to request any future advances under any nate or agreement
<br /> secured by the lien docuinent without I.ender's prior wrttten consent.
<br /> 8. CLAIMS AGAIIVST 1TTLE.Grantor will pay aU taxes,assessments,liens,encumbrances,lease payments,ground
<br /> r�nts,utiGties,and othee cbarges rclating to the Property when due.Lender muy require Grar.tor to provide to Lender _
<br /> copies of aU notices that such amounts are due a�id the receipts ev9dencing Grantor's payment.Grantor will defend
<br /> title to the Property against any claims that would impair the licn of this Security Instrument.Grantor agrees to assig�
<br /> iv I,G,i�ar,��eqazsie���%Li:Ru�t,d3tj%I7��i2S,�laizns or s3e:;ns:.s�rantar ms�?�s:�e s;sins:Fsrties�:h�s�tg�±l;�aher
<br /> or materials to maintain or improve the Yroperty.
<br /> 9. DUE ON 3ALE OR EP+iCUMBRANCE.Lender may,at its opcion,declare the entire baJance of the Secwed Debt to
<br /> be immediately duc and payable upon the creation of,or cantract for the creation of,any lien,encumbrance,transfer
<br /> or sule of tlee Property.This right is subject to the restrictions imposed by federal law(12 C.F.R.591),as applicable.
<br /> This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this
<br /> Secwity Instrument is released.
<br /> 10. PROPERTY CONDITION,ALTERATIONS AND [NSPECTION. Grantor will keep the Property in good
<br /> condition and make all repairs that are reasonably necessary. (3rnntor shall not commit or allow any waste,
<br /> impairment,or dctertoration of tlte Property. Grantor will keep the Property free of noxious weeds and grasses.
<br /> Grantor agrecs thnt thc nature of the occupancy and use will not substantially change without Lender's prior written
<br /> consent.Grantor will not permit any change in any license,restrictive covenant or easement without I..endcr's prior
<br /> written consent.Grantor will notify Lender of aU demands,proceedings,claims,and actions against Grantor,and of �
<br /> any loss or damage to the Property.
<br /> Lender or I.endcr's agents may, at Leader's option,enter the Property at any reasonable time for the purpose of
<br /> inspecting tl�e Property. Lender shall give Grontor notice at the time of or before an inspection specifying a
<br /> rcasonable purpose for the inspection. Any inspection of the Property shall be entirely for Lender's benefit and
<br /> Grantor wiU in no way rely on Lender's inspeciion.
<br /> 11. AUTHORiTX TO PERFORM. If Grantor fails to perform any duty or any of tt,e covenants contained in this
<br /> Security lnstrament,i.ender may,witt�out notice,periorm or cause them tu be�,cii�iuicu.G.u��iv�n�,Nu;,.i�I.c,ide�
<br /> as attorney in fact to sign Grantor's name or pay any amount necessary for performance.L.ender's righs to perform for
<br /> Grantor shall not create an obligation to perform,and Lender's failure to perform will not preclude Lendcr�rom
<br /> exercising any of Lender's other rights under the law or this Security Instrument.If any construction on the Property is
<br /> discontinued or not carried on in a reasonable manner, L.znder may eakc all steps necessary to protect L.ender's
<br /> sccurity interest in the Property,including wmpletion of the construction.
<br /> 12. ASSIGNMENT Oi�LEASES AND REN'TS.Grantor irrevocably grants,conveys and sells to Trustee,in trust for the
<br /> benefit of L.cnder,as additional security all thc right,title and interest in and to any and all existing or future teases.
<br /> subleases, and any otlier written or verbal agrcements for the use and occupancy of any portion of thc Property,
<br /> including any extensions,renewals,modi�cations or substitutions of such agrcements(all referred to as°Leases")and –
<br /> rents, issues and profits (a[I referred to as"Rents").Grantor will promptly provide Lender with true and conect
<br /> copies of all exist{ng�nd future Lcnses.Grantor may wllect,receive,enjoy and use the Rents so long as Grantor is not 6.
<br /> in default under thc tcrms of this Security Instrument. _
<br /> Grantor ackno�vledges that this assignment is perfectcd upon thc recording of this Dced of Trust and that Lender is
<br /> entitled to notify any of Grantor's tendnts to make payment of Rents duc or to becomc due to Lcnder. tlowever.
<br /> L.ender agrees that only on default will Lender notify Grantor and Grantor's tenants and makc demand that all future
<br /> Rents be paid dirccdy to Lendcr. On rccciving noticc of default,Grantor will endorse and deliver to L,ender any
<br />- _c n_ n_ _a .:71 b.. C., i «.1.. ...1 .:It ..a ..L �I...
<br />- FIArIIIGiII Vl AG�IW I�{V�(l�IW1�J�lVJJWJ1Vl�OIN hil�t�.WitM�i��a�bitin ii1�iuoi Ni a�. u��uuu ��ru� •:v.wiii::i"y.:.....
<br />= Rents with any other funds. Any amounts collected will he applied as proviJed in this Security Instrument.Grantor =
<br /> warrants that no default exists under the Lcases or any applic;able landlorclltcn�nt law.Grantnr also agrees to maintain =
<br /> and require any tenant to comply with the terms of the L.eases and appiicablc law. _
<br />= 13. LEASEHOLDS;COIVDOMINiUMS; PLANNGD UNIT D�VELOPMENTS.Grantor agrecs to comply with the _
<br />= provisions of any lease if this Security Instrwnent is nn a lcaschold.If thc Property includes a unit in a condominium =
<br />' or a planned unit devclopment. Grantor will perform �tll of Grantor's ciutics under the covenants, by-laws,or
<br />= regulations of thc condominium or plannr,d unit devclopment. _
<br /> _ 14. DCFAUL'S'.Grantor will be in default if any party obligatcd on the Sccurcd Debt fails to makc payment whcn duc. _
<br /> Grantor will be in default if a breach occurs undcr the terms of tNis Scc�rity Instrument or any othcr documcnt =_
<br /> _ • • (pago 2 of 4) �
<br />- A 1894 Banker�Systomo.Inc.St.CbW.MN p-000397•231t)Form RE•DT•NE tVfl94 =�
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