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<br />B. All future advances from Bene�ciary to Trustor or other future obligations of Trustor to Beneficia�ry under any
<br />promissory note, contract, guaranty, or other evidence oF debt executed by Trustor in favor of Beneficiary after this
<br />Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs
<br />this Security Instrument, each Trustor agrees that this Security Instrurnent will secure all future advances and future
<br />obligations that are given to or incurred by any one ar znore Trustor, or any one or mare Trustor and athers. All
<br />future advances and other future obligations are secured by this Security Instnunent even though all or part may not
<br />yet be advanced. All future advances and other future obligations are secured as if rnade on the date of this Security
<br />Instrument. Nothing in this Security Instrument shall con,stitute a commitment to rnake additional or future loans or
<br />advances in any arnount. Any such commitment must be a�reed to in a separate writing.
<br />C. All obligations Trustor owes to Bene�iciary, which may later arise, to the extent not prohibited by law, including,
<br />but not limited to, liabilities for overdxafts relating to any deposit account agreement between Trustor and
<br />Beneficiary.
<br />D. All additiox►al sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />the Froperty and its value and any other sums advanced and expenses incurred by Bene�iciary under the terms of this
<br />Security Instrument.
<br />This Security Instrument will nat secure any other debt if Bene�iciary fails to give any required notice of the right of
<br />_ --- !'Psc�ssien. _ --..._.__ —__...__ ____��.__ ---_._ ..__. _ ,
<br />5. PAYMEN'1'S. Trustor agrees that all payments under the S�cured Debt will be paid when due and in accordance with the
<br />terms of the Secured DebC and chis 5ecurity Instrument.
<br />6. WARRANTY OF TYTLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />5ecurity Instrument and has the right to irrevocably grant, convey, and sell the Froperty to '1'rustee, in trust, with power of
<br />sale. Trustor also warrants that the Property is unencurnbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other rnortgage, deed of trust, security agreement ox other lien
<br />document that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Bene�ciary any notices that Trustar receives frorn the holder.
<br />C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement
<br />secured by the lien docurnent without Beneficiary's prior written cnnsent.
<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encurnbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Froperty when due. Beneficiary may require Trustor to provide ta Beneficiary
<br />copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustar will defend title to
<br />the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor
<br />or materials to maintain or improve the Property.
<br />9. DUE ON SALE OR ENCLTMBRANCE. Bene�iciary may, at its option, declare the entire balance of the Secured Debt to
<br />be nnmediately due and payable upon the creation of, or contract far the creation of, any lien, encumbrance, transfer or
<br />sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This
<br />covenant shall run with the Property and shall remain in effect until the Secure� Debt is paid in full and this Security
<br />Instrument is released.
<br />10. PROPERTY �ONDITION, ALTERATIONS ,r3►Iti'D INS�`ECTION. Tru�tor wzll keep tkie Proper�y in gond conditiun
<br />and make all repairs that are reasonably necessary: Trustor shall not commit or allow any waste, impairment, or
<br />deterioration of the Prop�rty. T:rustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the
<br />nature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not
<br />pernut any change in any license, resCrictive covenant or easement without �ex�eficiary's pariar written consent. Trustor will
<br />notify Bene�iciary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the
<br />Property. �
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable tirne for the purpose
<br />of inspecting the Property. Beneficiary shall give Trustar natice at the time of ox before an inspection specifying a
<br />reasonable purpose for the inspection. Any inspection of the Paroperty shall be entirely for Beneficiary's bene�t an;d
<br />Trustor will in no way rely on Bene�iciary's inspection.
<br />11. Ai7THORITY TO 1'ERFORM. If T�rustar fails to perform any duty ar any of the covenants cantained in this Security
<br />Tnstrument, $ene�ciary may, without notice, perform or cause them to be performed. 'I'xustar appoints Bene�ciary as
<br />attoanney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary's right to perform for
<br />Trustor shall not create an abligatian to perfarm, and Bene�ciary's failure to perform will not preclude Beneficiary from
<br />exercising any of Bene�ciary's ather rights under the law or this Security Instrument. If any construction on the Property
<br />is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's
<br />security interest in the Property, including cornpletion of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, ta Trustee, in trust for the
<br />benefxt af Beneficiary as additional security all the right, title and interest in the following (all referred to as Property):
<br />existing or fuiure leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and
<br />occupancy of the Property, including any extensions, renewals, modifications or replacements (all referred to as I,eases);
<br />and rents, issues and profits (all referred ta as Rents). In the event any itern listed as Leases or Rents is determined to be
<br />�ers�mal• property, this Assignment will alco be regarded as a sec�zxity agreer_�ent. T*_�stor will prc?mptly provide
<br />Bene�iciary with copies of the Leases and will certify �these t.,eases are true and correct copies. The existirig Leases will be
<br />provided on execution of the Assignment, and all future Leases and any other information with respect to these I.eases will
<br />be provided immediately after they are executed. Trustor may collect, receive, enjoy and use the Rents so long as Trustor
<br />is not in default.
<br />Upon default, Tntstor will receive any Rents in trust for Bene�iciary and will not cornrningle the Rents with any other
<br />funds. Trustor agrees that this Security Instrument is nnmediately effective between Trustor and Beneficiary and effective
<br />as to third parties on the recording of this Assignment. As long as this Assignment is in effect, Trustor warrants and
<br />represents that no default exists under the Leases, and the parties subject to the Leases have not violated any applicable law
<br />on leases, licenses and landlords and tenants.
<br />13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agxees to comply with Che
<br />provisinns of any lease if tbis Security InsCrument is on a leasehold. If the Property includes a unit in a condominiurn or a
<br />planned unit developnnent, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br />condominium� or planned uniC developrnent.
<br />fpage 2 of 4)
<br />�j�T" � 199A 9ankers Systems, Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002 �
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