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<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor lo Beneficiary undcr any
<br />promissory uote, contract, �u�►raniy, or other evidence of debt executed by Trusior in favor of Benefici�►ry af[er this
<br />Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs
<br />this Securiry Instrument, each 'Trustor a�rees that this Security Instrument will secure all future advances and fnture
<br />obligaCions that are given to or incurred hy any one or more Trustor, or any one or more Trustor and others. All
<br />future advauces and other future obli�ations are secured by thrs Security Inslrument evcn though a11 or part may not
<br />yet be advanced. All future advances and other future obligaiions are secured as if made on the date of this Security
<br />Inslrument. Nothiqg in this Securiry Instruxnent shall constitute a coinmitmenl lo makc additional or future loans or
<br />advances in any amount. Any such conunitment must be agreed t.o in a separate writing.
<br />C. All obligations Trustor owes to Beneficiary, which n�ay later arise, to the extent nol prohibited by law, includin�,
<br />but not limited to, lrabilities for overdrafls relating to any deposit account agreement between Trustor and
<br />I3eneficiary.
<br />D. All additional sums advanced and expenses incurred by i3eneficiary for insuring, preserving or otherwise protecting
<br />the Property and its valae and any other suius advanced and expenses incnrred by Beneficiary under the tcrnis of this
<br />Securiry Tnstrument.
<br />This Security Instrument will not secure any other debt if Beneficiary farls to give any required uotice of the right of
<br />resc'rss'ron.
<br />5. PAYMENTS. Trustor agrees that all payuienls under the Secured Debt will be paid when due and in accordance wilh the
<br />terms of the Secured Debt and this Securily instrurnent.
<br />b. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be Iawfully seized of the estate conveyed by lhis
<br />Security Instrumenl and has the right to irrevocably grant, convey, and sell the Property to '1'rustee, in trust, wit}a power of
<br />sale. Tenstor also warrants chat the Property is unencumbered, except for encuiubrauces of rccord.
<br />7. PRIOR SECURTTY INTERESTS. With regard to any other mortgage, deed of trust, security agreemenl or other lien
<br />document that created a prior security interest or encuznbrance on the Property, Truslor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />i3. To promptly deliver to Bcneficiary any notices that Trustor receives from the holder.
<br />C. Not to allow any modification or extension of, nor to request any futnre advances under auy note or agreement
<br />secured by lhe lien dacutnent without Beneficiary's prior written consent.
<br />8. CLAIMS AGAINST TITLE.. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, �round rents,
<br />ntilities, and other charges relating to the Properly when due. Beneficiary rnay require Truslor to provide to Beneficiary
<br />copies of all notices thaC such amounts are due and the recerpts evidencing '1'rustor's payment. 1'ruslor will defend title to
<br />the Property against any claims that would impair lhe lien of this Security Instruxnent. Truslor agrees to assign to
<br />Beneficiary, as requested by 13eneficiary, any righis, claitns or defenses Trustor tnay k�ve against parties who supply labor
<br />or materuls lo maintain or unprove the PropeRy. �
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be immedia�ely due and payable upon lhe creatiou nf, or contracC for the creation of, any lien, encut��brance, transfer or
<br />sale of the Properly. This right is subject to lhe resirictions unposed by federal law (12 C.�.R. 591), as applicable. This
<br />covenant shall run with the Property and shall remain in effecl until the Secured Debl is paid iu fnll and this Securiry
<br />Instrument is released.
<br />- 10. PRE3���'4'-Cai�H3I�gt3N; �s� Trustor wili keep the Propeny' iu g�od coaditian
<br />and make all repairs chat are reasonably necessary. Trustor shall not carnmit or a11ow any wasie, impairment, or
<br />deterioration of the Property. Trustor will keep lhe Property free of noxious wecds and grasses. Trnstor agrees ChaC lhe
<br />nature of the occupancy and use will not substantially change without Beneficiary's prior written consenl. 'Trustor wi11 not
<br />permit any change in an.y license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will
<br />notify Beneficiary of all deinands, proceedin�s, clai�ns, and actions against Trustor, and of any loss or dama�e to the
<br />Property.
<br />Bencficiary or Beneficiary's agents ivay, al Beneficiary's option, enter the Yroperty at any reasot�able timc for the purpose
<br />of inspectrng the Property. �3eneficiary shall give '1'ru5wr notice at the lime of or before an inspeclion specifying a
<br />reasonable purpose for the rnspection. Any inspeclion of the Property shall be entirely for Beneficiary's benefit and
<br />'Trustor will in no way rely on Beneficiary's inspeccion.
<br />11. AUTHORITY TO PERFORM. If Trustor fails lo perform aay duty or any of the covenants contained in this Security
<br />Instrumenl, Beneficiary may, with��ut uotice, perfonn 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 perfonnance. Beneficiary's right to perform for
<br />Trustor shall not create an obligation to perfarm, and Bcneficiary's failure to perform will nol preclude Beneficiary from
<br />exercising any of Beneficiary's other rights under the law or this Security Instrument, if any consCruction on the Property
<br />is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary io protect Beneficiary's
<br />security interest in the Propeny, includin� campletiop of the cons�ruction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assi�ns, grants and conveys, lo '1'rustee, in trust for the
<br />benefit of Beneficiary as additional security all the right, lil.le 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 (all referred to as Leases);
<br />and rents, issues and profits (all referred to as Rents). In the event any item lasted as Leases or Rents is determined to be
<br />personal properfy; fhis Assigntticnt will alsu be regarded as a security agreeme►�C. 'I'rustor will prc�mptly 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 execution of the Assignment, anci all future Leases aud any other informatian with respect to these Leases will
<br />be provided irnmedrately a1'ter they are execuled. Trustor rnay collect, receive, enjoy and use the Reuts so loug as Trustor
<br />is not in default.
<br />Upon defauli, Trustor will receive any Renls in irast for $eneficiary and will not commingle the Rents with any ott�er
<br />funds. 'Trustor agrees that this Security Instrument is imtnediately effective between Trustor and Beneficiary and effective
<br />as lo third parties on the recording of this Assignment. As lnng as this Assigrunent is in effecl, �I'rustor warranis and
<br />represents that no default exists under the Leases, and the pariies subject to the Leases have nol violaled any applicable law
<br />on leases, liceases and landlords and tenants.
<br />13. LEASEHOLDS; CONDOMINI[TMS; PLANNED UNTT DEVELOPMENTS. Trustor agrees to comply with the
<br />pravisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a
<br />planned unit development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br />condarniuium or plauned unit development.
<br />rpa�`� p 1994 Bankera Systems, Inc., St. Cloud, MN Form RE-0T-NE 1/30/2002 �
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