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20100930�
<br />B. Al� future advances from Heneficiary to Trustor or other future obligatic�as of '1'rustc7r to T3eneficiary under auy
<br />promissory nc7tc, coniract, guaranty, or c�ther .evidence of debt executed by Trustor in favor of Beneticixry �fter this
<br />Securit.y Insirument whether or not this Security lnstrun�ent is specifically referenced. If more than one person si�ns
<br />this Securiry instrument, each Trustor agrees that tktis Security Instrument will secure all future x�lvxnces aud fuwrc
<br />obligations that are given to or incurred by any oae or more Trustor; or xny one or more Trustor and ot.hers. All
<br />future advances aud nther future ohligatious are secured by lhis Security Instrum�nt even though all or pari niay not
<br />yet be advanced. All future advances and other future ohligations are secured as if made on the date of this �ecurity
<br />Instrument. Nothing in this Securi[y [nstrument shall constilule a conunitzuent. [o make addilio��xl or future Icixns or
<br />advances in any aniouut. Any such commitment must be agreed to in a separate writin�.
<br />C. All obligations Trustor owes to $eneficiary, whiclt may Later xrise, to the extept not prohihited by law, including,
<br />but not limited to, liahilities for overdrafts relxting to any deposit account a�reement between 'frustor �nd
<br />Beneficiary.
<br />D. All additional sums advanced and expenses iucurred by Beueficiary for insuring, preserviug nr otherwise pmtecting
<br />the T'roperty anc[ its value and aiay other surlls advanceii and cxpenses incurrcd 6y Beiaefici�ry under ii�e terms c7f tlais
<br />Sccurity Iuslrurnent.
<br />'1'his Security lnstrument will uot secure any uthcr debt if ]�eneficiary fails to give any required u��ticc of che ri�ltt of
<br />rescission.
<br />5. PAYMENTS. Trustor a�rees that all payn�ents under the Secured Debt will be paid when due aad in accordaaace with Ihe
<br />tcnns of lhe Secured Debt and this Security Instrument.
<br />6. WARRANTY OF TTTLE. Trustor warraats that "1'rustor is or will hc lawfully sei?.cd of the estate couveyed hy this
<br />Security Instrument and has tl�e right to irrevncahly graut, convey, aud sell the Property to Trustee, in trust, witk� power of
<br />sale. Trustor also warrants t.hat. the Propert.y is unencumberea, except. for encumbrances af record.
<br />7. PRIOR SECURTTY INTERESTS. With rebxrd to any c>ther mort.gabe, deed of trust, security agreement cir otl�er lieu
<br />document th�t create�l a prior security interest c�r encumbrance on the Property, Trustor agrees:
<br />A.'1'o make all payments when due and to perform or comply wit�t all covenants.
<br />B. To promptly deliver to T3eneficiary xny notices �hxt Trustor receives from lhe holder.
<br />C. Not to allow xny modification ar cxtension ��f, nor to request any future advances under any nc�te or agreem�nt
<br />secured by tl�e lien docuinent without i3eueficia.ry's prior written conseut.
<br />S. CLAIMS AGAIIVST TITLE. Trustor will pay all t�►xes, xssessments, liens, enc�unbrances, lease paymeuts, ground reuts,
<br />utilities, and other cl�arges relatiu� to lL�e F'roperty when due. Beueficixry may require Trustor to provide to Bencficixry
<br />copies nf all notices thac sucl� atnounCs are due and tlte receipts evirlencing 'I'rustor's payment. Trustor will defend title I��
<br />lhe f'roperty againtit any claua�s that would irnpair the licn of t.his 5ecurity Iuslruat��:nt. Truslc�r agrees lo assigi� to
<br />Iieneficiary, as requesled by Iieneficiary, any ri�hts, claims or defeuses 'I'rustor ttaay have again.st parties who supply Ixhor
<br />or inaterixls to maiuta.in or i�tiprove �lae C'ropert.y.
<br />9. DUE ON SALE OR ENCUMBRANCE. k�eneficiary n�ay, at it.s option, declare the entire balance of tl�e Secured U�ht to
<br />be umnediately due and payable upon thc creatioia of, or conlract for t.he creation of, any Iien, cncumbrancc, trausfer or
<br />sale of the Prnperty. '1'his right is subject to the restrictions unposed by federal law (12 C.F.R. 591), as applicahle. This
<br />- cou���an[ -shxll xun wi�h t� Prn�erty nn41 �}aall rez�taau i❑ effeCl uzi(il kkie �ecurecl l�eht is ,�id in full and tlii� Securi�y_
<br />Instrument is relexsed.
<br />10. PROPERTY CONDITION, AL"TERATIONS AND INSPECTION. Trustor will keep t.he Yroperty iu goc�d conditiou
<br />and rnake all repairs that are rcasonably necessary. Trustor shall not cotrunit or allow nny waste, unpain��ent, or
<br />deterioratiou af thc Properry. Trustor will keep Che Prr>perty free of noxious weeds and �rasses. Trust.or agrees that the
<br />nature of the occupxncy aud use will no1 suhstantixlly chxnge without Beneficiary's prior writteu cnnsent. '1'rusfc�r will not
<br />per�nit any chxnge in auy license, reslrictive covenant or easemeut without Beneficixry's prior written consent. 'I'rustor will
<br />notify Beneficiary of all demands, proceedin�s, claims, and aclians against '1'rustor, and of any loss or d�+.ti�ag� to the
<br />Property.
<br />i3eneficiary or 13eneficiary's agents may, at Beneficiary's option, enter the I'roperty at xny reasnnable time for the purpose
<br />ot inspectiug the PropeMy. I�cneficiary shall give '1'rustor notice at the ticue of or before �.0 inspectiou specifyin�. a
<br />reasonable purpose t'c�r the io.�pection. Any inspection of the Prnpeny shall he entirely for Iieueficiary's benefit �.iad
<br />'1'rustor will in uo wxy rely ou Beneficiary's iuspection.
<br />11. AUTHORTTY TO PERFORM. lf Trustor fails to �erforni auy duty or any of tl�e covenauts ec�ntxined iu lhis Security
<br />lnslrument, Tieneficiary tnay, wichout notice, perfortn or cause thert� to be perfon�acd. '1'rustor appoivts 13euel'iciary as
<br />att.orney in fact to sign Trustor's ua.me or pay auy amount necessary for performance. Ticneficiary's right to perfnnxi for
<br />'1'rustcyr �hall not create an obligation to perform, xnd Tieneficiary's failure to perfurt�� will not preclude I3eueficixry from
<br />exercising auy of Beneficiary's ot.L�er ri�hts under c�e Ixw or lhis Security Instrument. If any construction on the }'roperty
<br />is discontinued or not carried on in a reasonahle manner, Reneficiary may take all steps necessary to protect Tieneficiary's
<br />securily interest in the Property, including cornpletiou of tlie coustruction.
<br />12. A55IGNMENT OF LEASES AND RENTS. Trustor irrevocably assibns, grauts a.ud convcys, to '1'rustec, in trusl l���r thc
<br />beuefit. of Beneficiary as ad�litional security all the rig�t, title and iuterest in tl�e following (all referred to as Property):
<br />existin� or futurc leases, subleases, licenses, guaranlies and any otl�er written or verbxl agreemeuts for the use ar��l
<br />occupancy c7f the Property, including auy extensions, reuewalti, modifications or replacements (all referred to xti I,e�ses);
<br />_ ___ �.���e.�t�� ia�:ues -�-{��� (:�1--x���'�� .ua-�.$). 1u--the .�u;.pt_,suy..ilem Jiu�rl at.l,,.e�.tie� cir R.cnts is. d�tennined to be.
<br />personal property, lhis Assignment will also be regardcd xs a security agreement. Trustor will pruriiptly providc
<br />Reneficiary with copies of lue I.eases and will certify these L�xses are true and correct copies, The existiug Lexscs will be
<br />provided ou executiou of the Assigtunent, and all future Leases and any olher infor�nation with respect Co lhese I..eases will
<br />be provided irnmediatety xftcr they are executed. Truslor may collect, receive, enjoy and use the Reucs so long as Trusl.or
<br />is not. iu default.
<br />lJpoq dcfxult, 'I'ruslor will receive any Rents in lrust for Beueficiary xnd will nol conimin�le t.he IZents with auy nther
<br />fuuds. Trustor agrees that this Securiiy Instrumeut is imzracdiately effective hetweeu 1'rustnr and Beuef'iciary and effectivc
<br />as tc� third parties on the recording c�f this Assignmei�t. As long as tbis Assi�nment is in effect, '1'custc�r warraut.a an�l
<br />represents that no defxult exists under [lte I,eases, and tlae parties subject to the Leases l�ave raot violat.ed �.uy �pplicxble law
<br />on leases, licenses and landlar�s and tenants.
<br />13. LEASEHOLDS; CONDOMINIUMS; PLANN�D LTNIT DEVELOPMENTS. Trustor agrees to comply with the
<br />provisions of any lease if t�is Security Instrument is ov a leaseh�>l�l. if the Property it�cludes il Llllll. 1❑ �i CQIICIOII11Li1U171 or a
<br />planned unit �levelopnienl, 'I"rustor will perfon» xll of Trustor's duties under the coveu�►nts, by-l�ws, or rcgul�tious of thc
<br />coudominiun� or planued uuit �lcvelopinent.
<br />(page 2 of 41
<br />�"' (c) 1994 Bankers Systems, Inc., St. Cloud, MN Form RE-DT-NE 1/3012002 �v" `� ' _.�.l�
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