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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, gua.ranty, or other evidence of debt executed by Trustor in favor of Beneficiary after this
<br />Security Instrument whether or not this Securiry Instrument is specif'ically referenced. If more tha.n one person signs
<br />this Securiry Instrument, each Trustor agrees that this Securiry Instrument will secure all future advances and future
<br />obligations that are given to or incurred by any one or more Trustor, or any one or more Trustor and others. All
<br />future advances and other future obligations are secured by this Securiry Instnunent even though a11 or part may not
<br />yet be advanced. All future advances and other future obligations a.re secured as if ma.de on the date of this Security
<br />Instrument. Nothing in this Securiry Instnunent shall constitute a commitrnent to make additional or future loa.ns or
<br />advances in any amount. Any such commitment must be agreed to in a separaxe writing.
<br />C. All obligations Trustor owes to Beneficiary, which ma.y later arise, to the e�ctent not prohibited by law, including,
<br />but not limited to, lia.bilities 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 sums advanced and expenses incurred by Beneficiary under the terms of this
<br />Securiry Instrument.
<br />This Securiry Instrument will not secure any other debt if Beneficiary fails to give 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 ift accordance with the
<br />terms of the Secured Debt and this Securiry Instrument.
<br />WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estaie conveyed by this
<br />Securiry Instrument and has the right to inevocably grant, convey, and sell the Properry to Trustee, in trust, with power of
<br />sa.le. Trustor also warrants tha.t the Properry is unencumbered, except for encumbra.nces of record.
<br />PRIOR SECITRITY INTERESTS. With regasd to any other mortgage, deed of trust, securiry agreement or other lien
<br />document thax created a prior securiry interest or encumbrance on the Properry, Trustor agrees:
<br />A. To mal�e all payments when due and to perform or comply with a11 covenants.
<br />B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C. Not to a11ow any modif'ication or e�ension of, nor to request any future advances under any note or agreement
<br />secured by the lien document without Beneficiary's prior written consent.
<br />CLAIMS AGAiNST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Properry when due. Beneficia.ry may require Trustor to provide to Beneficiary
<br />copies of a11 notices thax such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to
<br />the Property against any claims that would impair the lien of this Securiry Insttvment. Trustor agrees to assign to
<br />Beneficiary, as requested by Beneficia.ry, any rights, claims or defenses Trustor ma.y have against parties who supply labor
<br />or ma.terials to ma.inta.in or improve the Property.
<br />DiTE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be immediaxely due and payable upon the creation of, or contract for the crea.tion of, any lien, encumbrance, transfer or
<br />sale of the Properry. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), a.s applicable. This
<br />covenant sha11 run with the Properry a.nd shall remain in effect until the Secured Debt is paid in full and this Securiry
<br />Instrument is released.
<br />PROPEh3� CO11mTID�OleT, ���dA�O1�IS �TID IN�'EC�IIOl°d. Trustor will k.,ep the Propemy in good condi�ion
<br />and ma.ke all repairs that are reasonably necessary. Trustor shall not commit or a11ow a.ny waste, impairment, or
<br />deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees thax the
<br />nature of the occupancy and use will not substantia.11y change without Beneficia.ry's prior written consent. Ttustor will not
<br />permit any change in any license, restrictive covena.nt or easement without Beneficiary's prior written consent. Trustor will
<br />notify Beneficia.ry of all demands, proceedings, claims, and actions against Trustor, a.nd of any loss or damage to the
<br />Property.
<br />Beneficiary or Beneficia.ry's agents ma.y, at Beneficiary's option, enter the Properry at any rea.sonable time for the purpose
<br />of inspecting the Property. Beneficiary sha11 give Trustor notice at the time of or before a.n inspection specifying a
<br />reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficia.ry's benefit and
<br />Ttustor will in no way rely on Beneficiary's inspection.
<br />AUTHORITY TO PERFORM. If Trustor fa.ils to perfoffi any dury or any of the covena.nts contained in this Securiry
<br />Instnnnent, Beneficia.ry ma.y, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay aay amount necessary for performa.nce. Beneficiary's right to perform for
<br />Trustor sha11 not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from
<br />exercising any of Beneficia.ry's other rights under the law or this Security Instrnment. If any construction on the Property
<br />is discontinued or not carried on in a reasona.ble manner, Beneficia.ry may take a11 steps necessa.ry to protect Beneficiary's
<br />securiry interest in the Property, including completion of the construction.
<br />AS5IGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, in ttust for the
<br />benefit of Beneficiary as additional security all the right, title and interest in the following (all referted to as Property):
<br />existing or future leases, subleases, licenses, gua.ranties and any other wriuen or verbal agreements for the use and
<br />occupancy of the Property, including any extensions, renewals, modif'ications or repla.cements (all referred to as Leases);
<br />and rents, issues and profits (all referred to as Rents). In the event any item listed as Leases or Rents is determined to be
<br />personal property, this Assigvment will also be regarded as a securiry agreement. Trustor will promptly provide
<br />Beneficiary with copies of the Leases and will certify these Lea.ses are true and correct copies. The existing Lea.ses will be
<br />provided on execution of the Assigmnent, and all future Leases and any other info�ation 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 a.s Trustor
<br />is not in default.
<br />Upan default, Trustor will receive any Rents in trus�t for Beneficia.ry and will not commingle the Rents with any other
<br />funds. Trustor agrees thax this Securiry Instrument is immediately effective between Trustor and Beneficia,ry a.nd effective
<br />as to third parties on the recording of this Assigumeat. As long as this Assigument is in effect, Trustor warrants and
<br />represents that no default e3cists under the Lea.ses, and the parties subject to the Leases ha.ve not violated any applica.ble law
<br />on leases, licenses and landlords and tenants.
<br />LEASEHOLDS; CONDOMINIUM5; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the
<br />provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a
<br />planned unit development, Trustor will perform a11 of Trustor's duties under the covenants, by-la.ws, or regulations of the
<br />condominium or pla.nned unit development.
<br />(page 2 of 4)
<br />�"" OO 1994 Bankers Systems, Inc„ St. Cloud, MN Form RE-DT-NE 1/30/2002 �,G �.
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