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2oii0005a.
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<br />}3. All future advances trom Beneficiary to Trustor or other future obligations of Trustor to Beneficiary nnder any
<br />promisscyry note, contract, guaraniy, or ot.her evidence of debt executed by '1'rustor in favor of Beneficiary after this
<br />Security It�.�trument whether or not this Security lnslrument is specifically refereuced. If more than one person signs
<br />this Security lnst.rument, each Trustor agrees that this Security Instrurnent will secure all future advances and future
<br />obligatious that are �iven Co or incurred by any one or more '1'rustor, or any one or more Trustnr and others. All
<br />future advances and other future obligations are secured by this Security Instrument even though all nr part may nol
<br />yet be advanced. All fut.ure advances and other future obligations are secured as if made on the date c�f this Security
<br />Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or futurc loans or
<br />advances in any �unouut. Any such commitrnent must be a�reed to in a separate writing.
<br />C. All obligations 'I'rustor owes to Beneficiary, which. may later arise, lo the extent not prohibited by law, includrng,
<br />hut not limited to, liabilities for overdrafts relating to �ny deposit account agreement hetween Trustor and
<br />T3eneficiary.
<br />D. All addi�ional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />the Property and its value and auy nt.her su.�ns advanced and expenses incurred by Beneficiary under the �erms of chis
<br />Security Instrument.
<br />This Security Instrument will not secure any other debt if I3eneficiary fails tn give any required notice of the right of
<br />rescission.
<br />5. PAYMENTS. Trustor agrccs that all paymenis under the Secured Debt. will be paid when due and in accordance with. tkte
<br />terms of lhe Secured Deht and this Secnrity Instrumenl.
<br />6. WARRANTY OF TITLE. Trustor warrants that Trutitor is or will be lawfully seized of the estate conveyed by this
<br />Secnrity Inslrument and has thc right tn irrevocably graat, convey, and sell the Property to Trustee, in trust, with power of
<br />sale. Trustor also warrants that the Property is nnencumbered, except for encumbrances of record.
<br />'7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreetnent or other lien
<br />dacument that created a prior security interest or encumbrance on �he Property, Trustor agrees:
<br />A. To make all payments when due and to perfot7m or comply wi[h all covenant.s.
<br />B. To promptly deliver to }3eneficiary any notices that Tru�tor receives from the holder.
<br />(�. Not. to allow any modification nr extension ��f, nor to request any future advances under any note or agreement
<br />secured by the lien document without $enefici�.ry's prior written consent.
<br />8. CLAIMS AGAINST TTTLE. Trustnr will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. 13eneficiary may require Trustor to provide to Beneficiary
<br />copies of all not.ices that such amounts are due and the receipls evidencing Trustor's payment. Trustor will defend title to
<br />the Properly against any claims that would impair the lien of lhis Security Instrument. Trustor agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties whn supply labor
<br />or materials to mainiain or improve t.he Property.
<br />9. DUE ON 6ALE OR ENCiTMBRANCE. Beneficiary may, at its option, declare the entire balance nf the Secnred Debt to
<br />he unmediately due and payable upon the crcation of, or contract for the creation of, any lien, encurnbrance, transfer or
<br />sale of Che 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 Propert.y and sliall remain in effect until the Secured Debt is paid in tull and this Securi.ty
<br />Instrument is released.
<br />10. PROPERTY CONDTTION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition
<br />and make all repairs that are reasonably necessary. TrusCor shall not commit or allow any waste, impairmcnt, or
<br />deterioration of the Prnperly. 'Trust.or will keep the Property free of noxious weeds and grasses. Trustor agrees that the
<br />nature of the ��ccapancy and use will not substanlially change without Beneficiary's prior written consent. Trustor will not
<br />permit any change in any license, restrictive covenanl or easement without Beneficiary's prior writ.ten consent. Trustor will
<br />notify 13encficiary of all demands, praceedings, claims, and actions against '1'rustor, and of any loss or damage to the
<br />Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's optiou, enler Che I'ropert.y at auy reasoru►ble t.ime for t.he purpose
<br />of inspecting the Property. Beneficiary shall give Trustor notice at the time of or hefore an inspection specifying a
<br />reasonablc purpose for the inspectian. Any inspect.ion of the Property shail be ent.irely for Beneficiary's benefit and
<br />Trustor will in no way rely on Beneficiary's inspeciion.
<br />11. AUTHORITY TO PERFORM. lf 'I'rustor fails to perforni any duty or any of the covenants contained in this Security
<br />Instrument, T3eneficiary rnay, without notice, perform or cause them to be performed. 'Trustor appoints Benefici�ry as
<br />attorney in fact co sign '1"rust.or's r�me or pay any amount. necessary for perfonnance. Beneficiary's right t.o perform for
<br />Trustor shail n�t create an �bligation to perform, and Beneficiary's failure to perform will nc7t preclude Beneficiary from
<br />cxcrcising any c�f Beneficiary's other rights under the Law or lhis Security lnstrument. lf any construction on lhe Property
<br />is discoutinued or nol carried on in a reasonable manner, 13eneficiary may take all steps necessary Co protecl 13eneficiary's
<br />security iuterest in the Propert.y, including completion of the construction.
<br />].2. ASSIGNMENT OF LEASES AND RENTS. '1'rus�or irrevocably assigns, granCs and conveys, to Trustee, in trusi for the
<br />henefil of Beneficiary as addit.ional security all the right., t.itle and interest in the following (all referred to as Property):
<br />existin� or future leases, subleases, licenses, guaranties and any other written or verbal agreements for lhe 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 listed as I�cases or Rents is determined to be
<br />personal property, this Assignrnent will also be rega�rded as a security agreement. Trustor will promptly provide
<br />Beneficiary with copies of the Leases and will cerCify lhese Leases are Crue aud correct copies. The existin� Leases will bc
<br />provided on execution of the Assignment, and all fulure Leases and any other information with respect to these Leases will
<br />be provided 'unmediately after they are executed. 'I'rusCor may collect, recerve, enjoy and use the Rents so long as Trustor
<br />is nol in default..
<br />Upon default, 'I'rustor will receive any Itents in trnst for Beneficiary and will n�t conuningle the Rents with any other
<br />funds, '1'rustor agrees lhal lhis Security Instrurnent is irnmediately effective between Trustor and Beneficiary and effeciive
<br />as co third parties on t.he recording of this Assignment. As long as tl�is Assignment is in effect, 'I'rust.or warrants and
<br />represenls lhal no default. exisls under the Leases, and the parties subject to the i.eases have not violaied any applicable law
<br />on leases, licenses and landlords and tcnants.
<br />13. LEASEH�LDS; CONDOMINTCTMS; PLANNED UNTT DEVELOPMENTS. Trustor a�rees to comply with the
<br />provisions of any lease if this Security instrument is on a leasehold. lf the Property includes a unit in a condominium or a
<br />planned unit develapment, Trustor will perform all of Trustor's duties uuder the cnvenants, by-laws, or regulations of the
<br />condominium or planned unit development..
<br />(Aage 2 of 41
<br />�� U 1994 Bankers Systems, Inc., St. Cloud, MN Form RE-OT-NE 1/30/2002 _���.___
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