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<br />$. All future advances from $eneficiary to Trustor or other future obligations of 7rusCor to Beneficiary under any
<br />promissory note, contract, guaranry, or other evidence of debt executed by Trustor in favor of Beneficiary aftcr this
<br />Security Instrument whether or not this Security Instrument is specifically referenced. if more than oue person signs
<br />this Security Instrument, each Trnstor agrees that this Secnrity Instrwnent will secure all future advances aud future
<br />ohligations that are given to ar incurred by auy one or more Trustor, or any one or more Trustor aud oth�rs. A11
<br />future advances and other Future obligatious are secured by this Security Instrument even though all or part may not
<br />yet be advauced. All futnre advances and other future obligations are secured as if made on the date of this Security
<br />Ipstrumeut. Nothing in this Security InsCrument shall constituCe a commitment to make additional or future loans or
<br />advances in any amount. Any such commiCmeat must be agreed to in a separate writiug.
<br />C. All obli�ations Trustar owes to B�ueficiary, which may later arise, to the extent not prohibited by law, including,
<br />but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and
<br />Beueficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />the Propeny and its value and any other surns advanced a�nd expenses incurred by Beneficiary under the terms of this
<br />_ Securiry Instrument. -
<br />This Security Tnstrument will not secure any other debt if' Beneficiary fails to give any required notice nf the right of
<br />rescission.
<br />5. PAYMENTS. Trustor agrees that a11 payments under the Secured Debt will be paid when due and in accordance with the
<br />terms of the Secured Debt and this Security Instrument.
<br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Security Inscrument and has the right to irrevocably grant, convey, apd sell the Property to Trustee, in trust, with power nf
<br />sale. Trustor also warrants ttiat the Property is unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreemeut or other lien
<br />document ttk►t crea�ed a prior security interest or encumbrance op the Property, Trustor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Beneficiary any nntices that Trustor receives from the holder.
<br />C. Nat to allow any modification or extension of, nor tn requesC any future advances under any uote or agreement
<br />secured by the lien document without Benefici�ry's prior written consent.
<br />8. CLATMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease paymeuts, ground rents,
<br />utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to $eneficiary
<br />copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defeud title to
<br />the Property againsl any claims that would impair the lien of this Security Instriur�eat. Trustor agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, clauns or defenses Trustnr may have against parties who supply labor
<br />or materials to maintain or improve the Property.
<br />9. DiTE ON SALE OR ENCIJMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be immediately due aud 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 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 />I�strumc�t is relcascy:l. - _ __.._
<br />10. PROPERTY CONDITI�N, ALTERATIONS AND INSPECTION. Trustor will keep the Property in goocl condition
<br />and mak� all repairs that are reasonably necessary. Trustor shall not comrnit ar allow any waste, impairment, ar
<br />detecioration of the Property. Trustor will keep the Property free of noxious we�ds and grasses. Trustor agrees that the
<br />uature of the occupancy and use will not suhstantially change without 13eueficiary's prior written cous�nt. Trustor will nnt
<br />permit any change in any license, restrictive covenant or easement without Beueficiary's prior written consent. Trustar will
<br />notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the
<br />Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Properey at any reasonahle time for the purpose
<br />of inspecting the Propercy. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a
<br />reasonable purpose far the inspection. Any iuspection of the Property shall be entirely for $eneficiary's benefit and
<br />Trustor will iu no way rely on Beneficiary's inspection.
<br />11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants conCained in this Security
<br />Instrument, $eneficiary may, without notic�, perform or cause them to be performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amouut necessary for performance. $eneficiary's right to perform for
<br />Trustor shall not create xn obli�ation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from.
<br />exercising any of Beneficiary's other rights under the law or this Security Instrument. If any constructian on the Property
<br />is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect $eneficiary's
<br />security interest iu the Property, inclnding completiou of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to 'I'rustee, in trust for the
<br />benefit of Beneficiary as additional security all the right, title and interest in the following (all referred to as Property):
<br />existing or future leases, subleases, licepses, guaranties and any other written or verbal agreements for the use and
<br />occupancy of the PropeRy, including any extensions; renewals, modifications or replacements (all referred to as Leases);
<br />and rents, issnes and profits (a1l referred to as Rents). ln the event any item listed as Leases or Rents is determined to be
<br />persoual property, this Assi�r,uteat •,� ill alsa be .cegard�x# as h- �ecu�'ity �greeu��. ,..��'►�t��' -'K±�L=:�1pt�y :�t'ovide
<br />Beneficiary with copies of the Leases and will cettify these Leases are true and correct copies. 'I'he existing Leases will be
<br />provided on execution of the Assignment, and all future 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 />Upon default, Trustor will receive any Rents in trust for Beneficiary and will not comrningle the Rents with any other
<br />funds. 'I'rus�or agrees that this Security Instrumeut is unmediately effective between Trustor and Beneficiary and effective
<br />as to third paRies op the recording of this Assignment. As long as this Assignment is in effect, Trustor warrants and
<br />represents that no default exists under the Leases, and the parties subject to the Leases have nnt violated any applicable law
<br />on leases, licenses aad landlords and tenants.
<br />13. LEASEHOLDS; CONDOMINI[TMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the
<br />provisions of any lease if this Secnrity Instrument is on a leasehold. If the Property includes a unit in a condominium or a
<br />planned unit development, Trastor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br />condominium or planned unit development.
<br />� u p fpa.qe of 4)
<br />�� � 199A Bankera Systems, Inc., St. Cloud, MN Farm RE-OT-NE 1130/2002 e�
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