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<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary 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 Cnstrument will secure all future advances and future
<br />obligatic�ns that are given to or incurred by any one or more Trustor, or any one or more Trustor and others. All
<br />future advances and other future obligations are secured by this Security lnstrument even though all or part may not
<br />yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security
<br />Instrument. Nothing in this Security Instrument shall constitut� a cornmitment 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 Trustor owes to Beneficiary, which may later arise, to the extent nat prohibited by law, including,
<br />but not limited to, liabilities for ov�rdrafts relating to any deposit account agreement between Trustor and
<br />Beneficiary.
<br />D. All additional sums advanced and exp�nses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br />Security Instrument.
<br />This Security Instrument will not secure any other debt if Beneficiary fails ta give any required notice of ihe right of
<br />rescitision. _. _
<br />5. PAYMEN'I'S. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
<br />terrns of the Secured Debt and this Security Instrument.
<br />6. WARRAN'I'Y OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Security Tnstrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br />sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. Vi/ith regard to any other mortgage, d�ed of trust, security agreement or other lien
<br />document that created a prior security interest or encumbranc� nn the Property, Trustor agtees:
<br />A. Tn make all payments when du� and to perform ar comply with all covenants.
<br />B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C. Not to allow any modification or extension of, nor to request any future advances under any note or agreernent
<br />secured by the lien document without Beneficiary's prior written consent.
<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Prop�rty when due. Beneficiary rnay require Trustor to provide to Beneficiary
<br />copies of all notices that such amounts are dut and the receipts evidencing Trustor's paytnent. Trustor will defend title to
<br />the Froperty against any claims that would impair the lien of this Security Instrurnent. Trustor agrees to assign to
<br />Beneficiary, as reyuested by Beneficiary, any rights, claims c�r defenses Trustor may have against parties who supply labor
<br />or materials to maintain or unprove the Property.
<br />9. DUE �N SA�,E OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be immediately du� and payable upon the creation of, or cantract 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. S91), as applicable. This
<br />covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security
<br />Instrument is released.
<br />10. PROPERTY GONDI'f�E3N ALT�RATIONS AND INSP�C�ION: -Trustor wi�� keeg the Propert�+ in gc�od-et�ndition
<br />and make all repairs that are reasonably necessary. Trustor shall not cornmit or allow any waste, ixnpairment, or
<br />deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustar agrees that the
<br />nariire of the occupancy ana use will not substantially change without Beneficiary's priar written consent. Trustor will not
<br />perrnit any change in any license, restrictive covenant or easem�nt without Beneficiary's prior written consent. Trustor will
<br />notify Beneficiary of all demands, praceedings, clairns, and actions against Trustor, and of any loss or damage to the
<br />Property.
<br />Beneficiary nr Beneficiary's agents may, at Ben�:ficiary's option, enter the Property at any reasonable time for the purpose
<br />of inspecting the Property. Bc:neficiary shall give Ttustor notice at the time of or before an inspection specifying a
<br />reasonable purpose for the inspection. Any inspection nf the Property shall be entirely for Beneficiary's benefit and
<br />Trustor will in no way rely on Beneficiary's in.spection.
<br />11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security
<br />Instrument, Beneficiary may, without notice, perform nr cause them to be performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign I'rustnr's name or pay any amnunt necessary for performance. Beneficiary's right to perform far
<br />Trustor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from
<br />exercising any of Beneficiary's other rights under th� law or this Security Instrument. If any construction on the Property
<br />is discontinu�d nr not carried nn in a reasonable manner, Beneficiary may take all steps necessary to pratect Beneficiary's
<br />security interest in the Property, including cnrnpletion of the construction.
<br />12. ASSIGNMEN'T OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, in trust for the
<br />benefit of Beneficiary as additional security all the right, title anc� 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 (all referred to as L,eases);
<br />and rents, issues and prnfits (all referred tn as Rent�). Tn the event any item listed as Leases or Rents is determined to be
<br />personal property, this Assignment will also be regarded as a security agreernern. 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 ex�cution of the ASSignrnent, and all fi�ture Leases and any other information with respect to these Leases 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 />Upc7n deFault, Trustor W�11 receive any Rents in trust for Beneficiary and will not cnrnrningle the Rents with any other
<br />funds. Trustor agrees that fhis Security Instrument is immediately 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 dcfault exists under th� Leases, and the parties subject to the Leases have not violated any applicable law
<br />on leases, licenses and landlords and tenants.
<br />13. LEAS�HOT.11S; CONDOMINIUMS; PLANNED UNi'f DEVELOPMENTS. Trustor agrees to comply with the
<br />provisions of any lease if this Security Instrum�nt is on a leasehold. If the Property includes a unit in a condorninium or a
<br />planned unit development, Trustor will perform all oF Trustnr's duties under the covenants, by-laws, or regulations of the
<br />condominium or planned unit development.
<br />(page 2 of 41
<br />� OO 1994 Bankers Systems, Inc., St. Cloud, MN Form RE-pT-NE 1/30/2002
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