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<br />B. All future advances from Beneficiary to Trustar or other future obligatiops of Trustor to Beneficiary under any
<br />promissory nate, contract, guaranty, or ather evidence of debt executed by Trustor in favor of Beneficiary after this
<br />Securiry Instrwnent whether ar not this �ecurity Instrument is specifically referenced. If more than one person sigus
<br />this Securiry Instrument, each Trustor agrees that this Security Instrument will secure a11 future advances and future
<br />obligations that are given to or incurred by any one or more Trustor, or any one or more Trustor and ottiers. All
<br />future advances and other future obligatiaps are secured by this Security Instrwnent even though all or part may not
<br />yet be advanced. All future advanc�s aud other future abligations are secnred as if made on the date of this Security
<br />Instrument. Nathing in this Securiry Instrument sha11 constitute a commitrnent to make additional or future loans or
<br />advances in auy amount. Any snch commitment must be agreed to in a separate writing.
<br />C. All obligatious Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including,
<br />but not limited to, liab'rlities Por overdrafts relating to any depasit accouut agreement between Trustor and
<br />Beneficiary.
<br />D. All additional sums advanced aad expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />the Property aud its value and any other sums advanced and expenses incurred by Beneficiary nnder the terms of this
<br />Securiry Iustrument.
<br />This Security Instrument will nat secure any other debt iP Beneficiary fa'rls to give any required uotice of the right af
<br />rescissiou.
<br />$ P Y� --_. _ . _ _ � .. . - ---
<br />5. PAYMEN�S. Trustor a rees that all a ents under the Secured Debt will be a�d when due and in accordance with the
<br />terms of the Secured Debt and this Securiry Instrument.
<br />6. WARR.ANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Securiry Instrument and has the right to irrevocably grant, convey, and seU the Property to Trustee, in trust, with power of
<br />sale. Trustar also warrants that the Property is uneucumbered, except far encumbrances of record.
<br />7. PRIOR SECURTTY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interesC ar encumbrance ou the Property, Trustor agrees:
<br />A. To make all payments when due and to perform or comply with all covepauts.
<br />B. To promptly deliver to Beneficiary any uotices that Trustor receives from the holder.
<br />C. Not to allow any madification ar extension of, nar to request any future advances under aay note or agreement
<br />secured by the lien document without Beneficiary's prior written consent.
<br />8. CLATMS AGAINST TITLE. Trustar will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other cbarges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary
<br />copies of a11 natices that such amaunts are due and the receipts evideucing Trastor's payment. Trustor will defend title to
<br />tbe Property against any claims ttiat would impair ttie lien of this Security Instrumeat. Trustor agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, clairns 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 ENCiJMBRANCE. Beneficiary may, at its option, declare the entire balance af tt�e Secured Debt to
<br />be immediately due and payable upon the creation of, or contract for 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 appliaable. 'T'h'rs
<br />covenant shall run with the Property and sha11 remain in effect until the Secured Debt 'rs paid in full and this Security
<br />Instrument is released.
<br />10. PROPERTY CONDTTIUN, ALTERATIONS AND lNSPECTION. Trustor will keep the Prapertg iu good e.c�nd�"ii
<br />and make all repairs that are reasonably necessary. Trustor shail not commit or allow any waste, impairment, or
<br />deterioratian of the Property. Trustar will keep the Property free of noxious weeds and grasses. 7'rustor agrees that the
<br />nature of the occupancy and use will not substantiaily change without Beneficiary's prior written consent. Trustor will not
<br />permit any change in any liceuse, restrictive cavenant or easement without Beneficiary's priar written consent. Trustor will
<br />notify Beneficiary of a1l demands, proceedings, claims, and actions against Trustor, and of any loss or danuage to the
<br />Property.
<br />$eneficiary ar Beneficiary's agents may, at Beneficiary's option, euter the Prope�y at any reasonable tirne for the purpose
<br />of inspecting the Properiy. Beneficiary shall give Trustar uatice at the time of or before aa inspection specifying a
<br />reasonable purpose for the inspection. Any inspection of the Property shall be entirely far Beneficiary's benefit and
<br />Trustor will iu no way rely on Beneficiary's inspection.
<br />11. AUTHOR�[TY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Secarity
<br />InsCrwneut, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beueficiary as
<br />attorney in fact ta sign Trustar's nune or pay any amaunt necessary for performance. Beneficiary's right to perform for
<br />Trustor shall not create an abligation to perform, and Beneficiary's failure to perform will uot preclude Beneficiary from
<br />exercising any of Beneficiary's other rights uuder the law or this Security Instrument. If any construction on the Property
<br />is discontinued or not carried on in a reasonable mauner, Beneficiary may take all steps necessary to protect Beneficiary's
<br />security interest in the Property, including completion of the constructiou.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, in trust for the
<br />6enefit of Beneficiary as additional securiry all the right, title and interest in the following (all referred to as Property):
<br />existing or future 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 (a11 referred to as Leases);
<br />apd�ea�a, 'rs�s a�,.[��ts (a1l refetred to as Rents). In the event any item listed as Leases or Rents is determined to be
<br />personal property, this Assig�ent w�ll also be regarded as a security agreement. Trustor will promptly provide
<br />Beneficiary with copies of the Leases and will certify these Leases are true and correct copies. The existing Leases will be
<br />provided on executlon of the Assignment, and all fnture Leases and any ather information with respect to these Leases will
<br />be provided 'unrnediately 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, Trustor will receive any Rents in trust for Beneficiary and will not commingle tt�e Rents with any other
<br />funds. Trustar agrees that this Security Instrument is immediatety effective between Trustor and Beneficiary and effective
<br />as to third parties on the recording of this Assignment. As long as this Assigmnent is in effect, 'Trustor warrants aad
<br />represents that no default exists under the Leases, and the paRies subject to the Leases have not violated any applicable law
<br />on leases, licenses and Landlords and tenants.
<br />13. LEASEHOLDS; CONDOMINI[TMS; PLANrTED iJNPr DEVELOPMENTS. Trustor agrees to comply with the
<br />provisions of any lease if this Securiry Instrumeut is on a leasehold. If the Praperty includes a unit in a condominium or a
<br />planned unit developxuept, 'Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br />condominium or planned unit development.
<br />�.Fpaqe 2 of 4
<br />�� � 1994 Bmnkars Syamma, Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002 ��
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