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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 ather evidence of debt executed by Trustor ia favor of Beneficiary after this
<br />Security Instrument wheCher or not this Security lnstrument is specifically referenced. If more than one person signs
<br />this Security Instrumcnt, each 'I'rustor agrees that this Security Instrument will secure all future advaaces and future
<br />obligations that are given to or incurred by any one or more Trustor, or auy one or more Trustor and athers. All
<br />future advances aad other future ohligations are secured by this Securiry Instrument eveu though ail or part may not
<br />yet be advanced. All future advances and other future obligatians are secured as if made on the date of this Securiry
<br />Instrument. Nothing in thrs Security Instcument shall constitute a commitment to make additional or future loans or
<br />advances in any atnount. Any such comrnitment must be agreed to in a separate writing.
<br />C. All obligations Trustor awes to Beneficiary, 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 />Beneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />the Property and its value and any other surns advanced and expenses incurred by Beneficiary under the terms of this
<br />Security Iustrument.
<br />This Security Instrurnent wi�l not se�ure any. ather .rief�t,i�.$�uefic.iaty_ fails to giye any required notice of the right of
<br />rescission. �
<br />PAYMENTS. Trustor agrees that all 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 />WARRANTY OF TITLE. Trustor warrants that Trustor is or w'rll be lawfully seized of [he estate conveyed by this
<br />Security Instniment 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 />PRIOR SECURYTY INTERESTS. With regard to anq other mortgage, deed of trust, security agreement or other lien
<br />documeut that created a prior security interest or encumbrance on the Property, Trustar agrees:
<br />A.'I'a make all payments when due aud to perform or comply witli all covenaats.
<br />B. To promptly deliver to Beneficiary any notices that'Trustor rECeives from the holder.
<br />C. Not to allow any modiYic�tion or extension of, nor to request any future advances under any note or agreement
<br />secured by the lien document without Beneficiary's prior written copsent.
<br />CLAIM5 AGAINST TTTLE. Trustor will pay all taxes, assessments, liens, encumbraaces, lease payments, grouad rents,
<br />utilities, and other charges relating to the Properry when due. Beneficiary rnay require Trustor to provide to Beneficiary
<br />copies of all notices that such funounts are due and the receipts evidencing Trustor's payment. 'T'rustor will defend title to
<br />the Property aga'rnst auy claims that would impair the lien of tk►is Securiry Instrurnent. Trustor agrees to assign to
<br />Beneficiary, as requested 6y Beneficiary, any rights, claims or defenses Trustor may have against panies wha supply labor
<br />or materials to maintain or improve the Propertq.
<br />DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its optiou, declare the entire balance of the Secuced Debt to
<br />be immediately due and payable upon the creation af, or contract for the creation of, any lien, encumbrance, transfer or
<br />sale of the Property. This right is subject to the restrictions impased 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 'rn full an:d this Secnrity
<br />Instrument is released.
<br />PROPEI�TY CONDITION, ALTERATIONS AND INSPECTION. Trustor wiil keep the Property iu good condition
<br />and make all repairs that are reasouably necessary. Trustor shall not commit or allow any waste, impairment, or
<br />deterioration of the Property. Trustar will keep the Property free of noxious weeds and grasses. Trustor agrees that the
<br />pature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not
<br />permit any change in any license, restrictive covenant or easemeut withoat Beneficiary's prior written consent. Trustor will
<br />notify Beneficiary of all demands, proceedings, claims, and actions agaiust Trustor, aad of any loss or damage to the
<br />Property.
<br />Beneficiary or Beneficiary's ageuts may, at Beneficiary's aption, enter the Property at any reasonable time for the pnrpose
<br />of inspecting the PropeRy. l3eneficiary sha11 give Trustor notice at the time of or before an 'rnspection specifying a
<br />reasonable purpose for the in,speccion. Any inspection of the Property shall 6e eat'rrely for Beneficiary's benefit and
<br />Trustar will in no way rely on Beneficiary's inspection.
<br />AUTHORTTY TO PERFORM. If 1'rustor. fails to perform any dury or any of the cavenauts contained in this Securiry
<br />Instrument, BenePiciary may, without noticc, perform ar cause them to be performed. Trustor appornts Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any arnouut necessary for performance. Beueficiary's right to perform for
<br />Trustor shall not create au obligation to perform, and Beneficiary's failure W perform will not preclude Beneficiary from
<br />exercising any of Beneficiary's other rights under the law or this Security Instrument. If any construction on the Property
<br />is discontinued or not carried on in a reasanable manner, Benefieiary may take a11 steps necessary to protect Beneficiary's
<br />securiry 'rnterest in the Property, including completian of the construction.
<br />ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, in trust for the
<br />benefit of Beneficiary as additional securiry a11 the right, title and interest 'rn the following (all referred to as Property):
<br />existing or future leases, subleases, licenses, guaranties and any other written ar verbal agreements for the use and
<br />accupancy of the Property, including any extensions, reuewals, modifications or replacements (all referred to as Leases);
<br />and rents, issues and profits (all referred to as Rents). In the event any item listed as Leases ar Rents is determined w be
<br />pe�sonat property, this Assignment will also be regarded as a securiry agreement. Trustor will pramptly provide
<br />Beneficiary with capies of the Leases and will certify these Leases are true and correct copies. The existing Leases will be
<br />provided on executian of the Assignmeat, and a11 futare Leases and any ather information witl� respect to these Leases will
<br />be provided 'utunediately after they are executed. Trustor may cnllect, 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 cammingle the Rents with any other
<br />funds. Trustor agrees that this Security Instru.ment is iinmediately effective between Trustar and Beneficiary and effective
<br />as to third parties on the recording of this Assignment. As long as this Assigument is iu effect, Trustor warrants and
<br />represents that no default exists under the Leases, and the parties snbject to the Leases have not violated any applicable law
<br />on Leases, licenses aud laadlords and tenants.
<br />LEASEHOLDS; CONDOMINIUMS; PLANNED IJNTr DEVELOPMENTS. Trustor agrees to comply with the
<br />provisions of any lease if this Security Instrument is on a leasehold. If the Property iucludes a uuit in a condrnnuuum or a
<br />planned unit develvpment, Trustnr will perform all of Trustor's duties under tl�e covenaats, by-laws, or regulations of the
<br />condominiurn or planned unlc development.
<br />�"' � 1884 8ankera Systams, Inc., St. Cloud, MN Form RE-�T-NE 1l30/2002
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