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<br />H. All future advances fram Beneficiary to Trustor or other future obligations of Trustor to Seneficiary under any
<br />prornissory note, contract, guaranry, or other ev'rdence of debt executed by Trustor in favor of Beneficiary after this
<br />Security Iustrument whether or nat this Security Instrumeut is specifically refereuced. IP more than one person signs
<br />this Secuciry Instrumeut, each Truator agrees that this Security Instrumeut will secure all future advances and future
<br />obligations that are giveu to or incurred by any one or mare Trustor, or any one ar rnore Trustor and otliers. All
<br />future advances and other future obligations are secured by this Security Instru�uent even though all or part may nnt
<br />yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security
<br />Instrument. Nothiug 'rn this Security Iustrument shall constitute a commitmeut to make additional or future loans or
<br />advauces in any arnount. Any such commipnent must be agreed to in a separate writing.
<br />C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited Uy law, including,
<br />but not limited to, liabilities for overdrafts relating to any deposit account agreement betweeu Trustor and
<br />Beneficiary.
<br />D. All additional sums advanced and expenses incurred hy Beneficiary for insuring, preserving or otherwise protecting
<br />the Property and its value aud any othec sutns advauced and expenses incurred by Beneficiary under the terms of this
<br />Securiry Iustrument.
<br />This Secnrity Instrument will not secure anq other debt if Beneficiary fails to give any required notice nf the right af
<br />resciasion.
<br />PAYMENTS. Trustor agrees that all paymeuts under the Secured Debt will be paid when due and in accordance with the
<br />terms of the Secured Debt and this Securiry Instrument.
<br />WARRANTY OF TITLE. Trustor warrauts that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Secur'rty Instrument and has the right tn irrevocably grant, cauvey, and sell the Property to Trustee, in trust, with power of
<br />sale. Trustor also warrauts that the Prnperty is unencumbered, except for encumbrances af record.
<br />PRIOR SECURTTY INTERESTS. With regard to any other rnortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br />A. To make all paymeuts when due and to perform or comply with all covenants.
<br />B. 'To prornptly deliver to Benef'rcrary any notices tha,t Trustor receives from the halder.
<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 documsuC without Beneficiary's prior written consent.
<br />CLAIMS AGAINST TTTLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the ProperCy when dus. Beneficiary may require Trustor to provide to Beneficiary
<br />copies of all notices that such amounts are due and the receipts evidencing Trustor's paymeut. Trustor will defend title to
<br />the Property against any claims that would impair the lien af 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 matecials to maintain or hnprove the Property.
<br />DLTE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be i�xunediately due and payable upon the creation of, nr contract for the creation of, any lien, encumbrance, trausfer or
<br />sale of the Froperty. 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 Secured De6C rs paid in full and this Security
<br />Instrumeut is._released. . . - --- _ --- - - .- --- - . — ---- ----- -- _ .
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<br />PROPERTY CONDTTTON, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition
<br />and make all cepairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or
<br />deterioration of the Property. Trustor will keep the Praperty free of noxious weeds and grasses. Trustor agrees that the
<br />nature of the occupancy and use will not substantially chauge without Beneficiary's prior writteu conseut. Trustor will uot
<br />permit any chauge in any license, restrictive coveaant or easement without Beneficiary's prior written consent. Trustor will
<br />notify Beneficiary of all demands, proceedings, clauns, and actions against 'Trustor, and of any loss or darnage to the
<br />Froperty.
<br />Beneficiary or Beueficiary's agents may, at Beneficiary's option, enter the Property at any reasouable time for tUe purpose
<br />of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a
<br />reasonable purpose for the inspection. Any iuspection of the PropeRy sha11 be entirely far Beneficiary's benefit and
<br />Trustor will in no way rely on Benefic'rary's inspection.
<br />AUTHORTTY TO PERFORM. If Trustor fails ta perform any dury or any of the covenants contained in this Security
<br />Instnuneut, Beneficiary may, without notice, perForn� or cause them to be performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary's erght to perforrn for
<br />Trustor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from
<br />exercising auy of Beneficiary's other righta under the law or this Securiry Instrument. If any construction on the Propecty
<br />is discoutinued or not cacried on in a reasonable manuer, Seneficiary may take all steps necessary ta protect Beneficiary's
<br />securrty interest in the Property, includiug completron of the construction.
<br />ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigus, grants and conveys, to Trustee, in trust for the
<br />benefit of Beneficiary as additional security all the right, title and interest in the following (all referred ta as Property):
<br />existing or future leases, subleases, licenses, guaranties and any ottier written or vecbal agreemeats for the use and
<br />occupancy af the Property, iucluding any extensions, renewals, modifications or replaceinents (all referred to as Leases);
<br />and rents, issues aud profits (al1 referred to as Rents). In the event any item listed as Leases or Rents is determined to be
<br />persoaal property; tTiis AssignmenT also be regarded as a security agreeii�er�t. Trustor witt proiriptly providc
<br />Beueficiary with copies of the Leases aud will cectify these Leases are true and correct copies. The existing Leases will be
<br />provided on execution of the Assignment, and all future Leases and any other information with respect to these L�ases will
<br />be provided immediately after they are executed. Trustor may collect, receive, eujoy and use the Rents so long as 'I'rustor
<br />is aot in default.
<br />Upou default, Trustor will receive auy Reuts in trust for Seneficiary and will not commingle the Rents with any other
<br />funds. Trustor agrees that th'rs Security Tnstrument is immediately effective between Trustor and Beneficiary and effective
<br />as to third panies on the recording of this Assignmeut. As long as this Assigmnent is in effect, Trustor warrants and
<br />repceseuts that no default exists under the Leases, and the parties subject to the Leasea have not violated any applicable law
<br />on leases, licenses and landlords and tenants.
<br />� LEASEHOLDS; CONDOMINIIJMS; PLANNED IlNIT DEVELOPMENTS. Trustor agrees to comply with the
<br />prnvisions of any lease if this Security Instrumeut 'rs on a leasehold. If the Property includes a uuit in a condomiuiui�� or a
<br />planned unit development, Trustor will perform a11 of Trustor's dut'res under the covenants, by-laws, or regulatious of the
<br />candomrruum or plauned unit development.
<br />/ ,.r, (paqe 2 0 41
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<br />'" � 1994 8ankere Syetems, Inc., St. Glaud, MN Form RE-DT•NE 1(30l2002 /IJ_J_L
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