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<br />$. All future advances from I3eneficiary to Trustor or other future obligations of Trustor ta Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after this
<br />Security lnstrument whetber or not this Security instrument is specifically referenced, If more than one person signs
<br />this Security Instrument, each Trust.or agrees that this Security Instrument will secure all future advances and future
<br />obligations t.hat are given to or incurred by any one or mare T'rustor, or any one or more Trustor and others, All
<br />futurc advances and other future obligations are secured by this Securiry lnstrument even though all or part may nat
<br />yet be advanced. All future advances and olher fut.ure obligations are secured as if made on the date of this Security
<br />Instrurtaent. Nothing in this Security Instrument slull constitute a cotnmitrnent to make additional or futurc loans or
<br />advauces in any amount. Any such commit�nent must be agreed to in a separat.e writing.
<br />C. All obligations Trustor owes to Beneficiary, which may Later arise, io lhe extent not prohibited by law, including,
<br />bul not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and
<br />Beneficiary.
<br />ll. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwrse protecting
<br />thc Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms nf this
<br />Sccurity Inslrument.
<br />This Security Instrument will not sccure any other debt if Beneficiary fails to givc any required notice of the right of
<br />rescission.
<br />5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
<br />terms of che Secured Deht at�d this Security Instrument.
<br />6. WARRANTY O�" TTi'LE. Trustar warrants that Trustor is or will be lawfully tieized of the estaCe conveyed by this
<br />Security Instrument and has the right Co irrevocably grant, convey, and sell the Property lo Truslee, in trust, with power of
<br />sale. Trustor also warrants that the Property is unencumhered, except for encumbrances of record.
<br />7. PRIOR SECiTRTTY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />document that crealed a prior security interest or encumbrance on the Properly, 'Trustor agrees:
<br />11.'I'o make alI payments when due and �o perfonn or comply with all covenants.
<br />13. 'To promptly deliver ta Beneficiary any notices that Trustor reccivcs fram the hnlder.
<br />C. Not to allow any rnndificat.ion or extension of, nor to requcst any future advances under auy note or a�reement
<br />secured by the lien documenl without. Beneficiary's prior writtcn consent.
<br />8. CLAIMS AGAINST TITLE. Truslor will pay all taxes, assessments, liens, encumbrances, lease paymeuls, ground renCs,
<br />utilicies, and other charges relating to lhe Property when due. Beneficiary may require Trustor to provide to l3eneficiary
<br />copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustnr will defend title [o
<br />the 1'roperty against any claims that would 'unpair the lien of this Security Instrument. 'Trustor agrees to assign Co
<br />BeneCiciary, as rec�uested by Benei'iciary, any rights, claims or defenses 'I'rustor may have against parties who supply labor
<br />or materials to maintain or improve the Property.
<br />9. DiJE ON SALE OR ENCUMBRANCE. 13eneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be immediately due and payable upon the creation of, or contract for the creation of, any lien, eucumbrance, Cransfer or
<br />sale of the Praperly. '1'his right is subject to the restrictions impased by fedetal law (12 C.F.R. 591), as applicable. This
<br />covenant shall run with the Property aud shall remain in effect unlil lhe Secured Debt is paid in full and this Security
<br />Instrurnent is released.
<br />10. PROPERTY C�NDITION, ALTERATIONS AND IN5PECTION. Trustor will keep the Praperty in goad cnnditic�n
<br />and make all repairs that are reasonably necessary. Trustor shall not cottimit or allnw any waste, impairment, or
<br />deterioration of the Propert.y. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the
<br />nature 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, rest.rictive covenant. or easeinent without Beneficiary's prior written consent. Trustor will
<br />notify 13eneficiary of all demands, proceedings, clauns, and actions against Trustor, and ot any loss or damage to the
<br />PropeRy.
<br />Beneficiary or 13eneficiary's agents may, at Beneficiary's option, enter the Property at any reasonahle time for the purpose
<br />of inspecting the Praperty. 13eneficiary shall give 1'rustor notice at the tune of or before an inspection specifying a
<br />reasonahle pnrpose for the inspecCion. Any inspection of the Property shall be entirely for Beneficiary's benefit and
<br />Trustor will in no way rely an Benefici�►ry's inspect.ion.
<br />11. AUTT30RITY TO PERFORM. If 'I'rust.or fails to perform any duty or any of the covenants contained in this Security
<br />Instrument, l3enefi.ciary may, without nolice, perform or cause them to be performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign Trustor's t�me or pay any <unount. necessary for performance. 13eneficiary's right to perform for
<br />Trustor shall not create an obligatic�n to perf��rm, aad Beneficiary's failure to perfonn will nol preclude $enefici�ry from
<br />exercising any of Iieneficiary's nther rights under the law or this Securiry Inslrument.. If any conslruction on t.he Property
<br />is discontinued or not carried on in a reasonable manuer, Beneficiary may take all steps necessary to protect ]3eneficiary's
<br />security int.erest in the Property, induding completion of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, 'rn trnst for the
<br />benefit of i3eneficiary as addiiional security all the right, tille and inlerest. in lhe followin�; (all referred Co as Property):
<br />existing or future leases, subleases, licenses, guaranties and any other wrillen or verbal agreements for the utie and
<br />occupancy af t.he 1'roperly, including any ext.ensions, renewals, modificat.ions or replacements (all referred lo as Leases);
<br />and rents, issues and profils (all referred t.o as 1Zenls). ln lhe event. any it.em listed as Leases �r Rents is determined w he
<br />personal property, lhis Assignmenl. will also be regarded as a securiry agreement. Trustar will prornptly provide
<br />Beneficiary with copies of the Leases and will certify Chese Leases are true and correcl copies. The existiug Leases will be
<br />provided on execution of the Assignment, and all future Leases and any olher information with respect to these Leases will
<br />be provided 'unmediat.ely after t.hey are executed. "I'ruslor may collecl, receive, enjoy and use the Rents so long as Trustor
<br />is not in default.
<br />Upon default, Trustor will receive any Kents in lrust for $eueficiary and will not cornrningle the Rents with any other
<br />funds. Trustor agrees that this Security Instrument is unmediately effect.ive between 'I'rustor and Benefici�try aud effective
<br />as to third parties on the recordin� nf this Assignment. As long as this Assignment is in effect, Trustor warrants and
<br />represents that no default exists under thc Lcascs, and the parties subject to the Leases have not violated any applicahle law
<br />on leases, Licenses and landlords and tenantti.
<br />13. LEASEHOLDS; CONDOMINILTMS; PLANNED IJNI'[' DEVELOPMENTS. Trustor agrees to comply with the
<br />provisions af any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condat�tainium or a
<br />planned unit develnpme�tt, Trustor will perfor�n all of Trustor's duties under the covenants, by-laws, or regulations of the
<br />condominium or planned unit development.
<br />(page 2 of 4J
<br />E'j(�"" OO 1994 Bankers Systems, Inc„ St. Cloud, MN Form RE-b7-NE 1/30/2002 �_
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