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<br />B. All future advances from Beneficiary to 1'rustor nr other future obligations of Trustor w Beneficiary under any
<br />prnrnissory note, contract, guaranty, c�r other evidence of debt execut�d by Trustor in favor of �eneficiary after this
<br />Security Instrument whether or not this Security Instrument is specifically referenced. lf more than one person signs
<br />this Security lnstrument, each Trustor agrees that this Securify Instrument will secure all future advances and future
<br />obligations that are given to or incurred by any one or mnre Trustor, or any one or more Trustor and others. All
<br />future advances arid other future obligatior�s are secured by this Security Tnstrument even though all or part may not
<br />yet F� advanced. All future advanc�:s and othGr future obligations are secured as if made on the date af this 5ecurity
<br />Tnstrument. Nothing in lhis Security instrument shall constitute a cnmmitment to make additional or future loans or
<br />advances in any amount. Any such commitment must be agreed to in a separate writing.
<br />C. All obligations 1'rustor owes to Beneficiary, which may later arise, to the txtent not prohibited by law, including,
<br />but not lunite�l to, liabilities for overdrafts relatinb to any deposit account agreement between Trustor and
<br />Beneficiary.
<br />D. Ail actditional sums advanced and expenses incurred by Beneficiary for ir►suring, preserving or otherwise protecting
<br />the Property and its value and any other sums a�lvanced and expenses incurred by Beneficiary under the terms of this
<br />Security Instrument.
<br />This Security Instriunent will not secure any other debt if Beneficiary fails to give any required notice of the right of
<br />resc.�'rssi�r: _ ... __ . . _. _.__....:._ ._. _ .
<br />5. PAYMEN'I'S. Trustor agrees that all payments under the Secured Debf will be paid when due and in accordance with the
<br />terms of die Secured Debt and this Security Instrurnent.
<br />G. WABItAN'I'Y ON' TITI.I;. Trustor warrants lhat 1'rustor is or will be lawfully seized of the estate conveyed by this
<br />Security lnscrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with pc�wer of
<br />sale. I"rustor also warrants that the Praperty is unc:ncumbered, except for encumbrances of record.
<br />7. PRTOR SECURITY INTEKESTS. With regard to any other mortga�;e, deed of trust, security agreement or other lien
<br />�ocument that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br />A. To make all payrnents when due and to perform or uymply with all covenants.
<br />B. To promptly �leliver w Benet'iciary any notices lhat Trustor rec�ives from the holder.
<br />C. Not to alluw any modification or ex[ension of, nnr to request any future advances under any note or agreement
<br />secured by thc lien document without Bc:nel'iciary's pric�r written consent.
<br />$. CLAIMS AGAINST Tl'1'LE. Trustor will pay all taxes, astiessrnents, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. I3eneficiary may require Trustor to provide to Beneficiary
<br />copies of all notices that such amounts are due and tlie rece'rpts evidencing Trustor's payment. Trustor will defend title to
<br />the Property againtif any clauns that would impair the lien ot this S�curity Instrument. Trustor agrees tn assign ta
<br />Beneficiary, as requestcd by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor
<br />or materials to maintain or improve the Praperty.
<br />9. UUE ON SAIaE 012 ENCUMBItANCE. I3eneficiary may, at its optinn, declare the entire balance of the Secured Debt to
<br />be immediately due and payable upon the creation of, or contract for lhe creation of, any lien, encurnbrance, transfer or
<br />sale of the Property. This righf is subject to ihe restrictions irnposed by federal law (12 C.F.R. 591), as applicable. 'T'his
<br />covenant shall run with the Property and shall remain in effc:ct until the Secured Debt is pai�i in full and this Security
<br />Instrument is relea�ed.
<br />10. PROP�RTY (�OM?iTIflN, Ai,`t'E�ATION� Trustor wilt keep the Property in gaod condition
<br />and make all repairs that are reasonably necessary. Trustor shall not cornmit or allow any waste, impaument, or
<br />deterioratic�n of the Property. Trustor will keep the Nroperly free of noxious weeds and grasses. Trustor agrees that the
<br />nature ot' the occupancy and use will not substantially change without �3eneficiary's prior written consent. Trustor will not
<br />permit any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. 'Trustor will
<br />notity Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the
<br />T'roperty.
<br />BeneFiciary or Beneficiary's agents may, at Beneficiary's aption, enter the Property at any reasonable time fnr the purpose
<br />of inspecting the Property. Beneficiary shall give Trustor notice at ch� time of or before an inspection specifying a
<br />reasonable purpose fnr the inspection. Any inspectinn of the Property shall be entirely for Beneficiary's benefit and
<br />Trustor will in no way rely on Beneficiary's inspection.
<br />11. AU"I"HORITY TO PERFOltM. If Trustnr fails to perforrn any duty or any of the cavenants contained in this Security
<br />Instrument, Beneficiary may, without nofice, perform or cause them to be performed. Trustor appoints Beneficiary as
<br />attc�rney in fact to sign "I'rustor's name or pay any amount neces5ary for performance. Beneficiary's right to perform for
<br />Trustor shall not creatc an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from
<br />exereising any of Bene:ficiary'ti other rights under the law or this Security Tnstrument. If any construction on the Prop�rty
<br />is discontinued or not carried on in a reasonable manner, [3eneficiary may take all steps necessary to protect Beneficiary's
<br />security interest in the Property, including completion of the construction.
<br />12. ASSIGNMENT OF I.EAS�.S AND RENTS. Trustor irr�vncably assigns, granis and conveys, to 'I'rustee, in trust for the
<br />benefit of Beneficiary as additional seeurity 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 vetbal agreements for the use anci
<br />occupancy of the Property, including any extensions, renewals, modifications or replacements (all referred to as Leases);
<br />and rents, issues and profits (all referred tc� as Rents). ln the event any item listed as Leases or Rents is determined to be
<br />personal property, tliis Assignment will also bc: regarde�l as a security agreement. Trustor will promptly provide
<br />Beneficiary with copies of the Leas�s and will certify these Leas�s are true and correct copies. The existing Leases will be
<br />provided on execution of tlie Assignment, and all future Lcases ana any other information with respect to these Leases will
<br />be provided immediately after thCy are executed. 1'rustor may collect, receive, enjoy and use the Rents so long as Trustor
<br />is not in default.
<br />Upon default, `l'rustor will receive any Rents in trust fc�r Beneficiary and will not commingle the Rents with any other
<br />funds. '1'rustor a�recs that this Security lnstrumc:n[ is immediately effective between Trustor and �eneficiary 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 />repre�ents that na default exists under the Leas�s, and the parties subject to the Leases have not violated any applicable 1aw
<br />on leases, licenses and landlords and tenants.
<br />13. LEAS�IIOLDS; CONDOMINIUMS; PI,ANNED LJIVIT DEVELOPMENTS. Trustor agrees to comply with the
<br />provisic�ns of any lease if thi� Security Instrument is on a leatiehold. If the Property includes a unit in a condomuuum or a
<br />planned unit develnpment, Trustor will perform all of T"rustar's duties under the covenants, by-laws, or regulations of the
<br />cnnciominium nr planne�l unit �leveloprnent.
<br />(Page 2 of 4/
<br />�� C�)1994 Danknrs Systams, Inc., St. 41oud, MN Form flE-DT-NE 1130/2002
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