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<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />pcomissory note, contract, guaranty, or other evidence of debt executed by Trustor in fa�or of Beneficia,ry after this
<br />Security Instrument whether or not this Security Instrument is specif'ically referenced. If m4re than one person signs
<br />this Security Instrument, each Trustor agrees that this Securiry Tnstrument will secure all future advances and future
<br />obligations tha.t 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 Security Instrument even though all or part may not
<br />yet be advanced. All futute advances and other future obligations are secured as if made on the date of this Security
<br />Instrument. Nothing in this Security Instrument shall constitute a commitment to ma.ke additional or future loans or
<br />advances in any amount. Any such commitment must be agreed to in a separate wtiting.
<br />C. All obligations Trustor owes 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 Properly and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br />Security Instrument.
<br />This Secariry Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of
<br />tescission.
<br />PAYMENT5. Trustor agrees that all payments under the Secured Debt will be paid when due and in accorda,nce with the
<br />terms of the Secured Debt and this Security Instcument.
<br />WARRANrY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Security Instrument 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 Properiy is unencumbered, except for encunabrances of record.
<br />PRIOR SECURITY 1NTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interest or encumbrance on the Properiy, Trustor agrees:
<br />A. To make a11 payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C. Not to allow any modification or e�ctension of, nor to request any future advaaces under any note or agreement
<br />secured by the lien document without Beneficiary's prior written consent.
<br />CLAIMS AGAINST TI17.E. Trustor will pay all ta�ces, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. Beneficiary ma,y require Trustor to provide to Beneficiary
<br />copies of all notices tha.t such amounts ate due and the receipts evidencing Trustor's payment. Trustor will defend title to
<br />the Properly against any claims that would impair the lien of this Security Insttument. Trustor agrees to assign to
<br />Beneficiary, as reqnested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor
<br />or materials to maintain or improve the Property.
<br />DiIE ON SALE OR ENCiTMBRANCE. Beneficiary may, at its option, declare the entire bala.nce of the Secared Debt to
<br />be immediately due and payable upon the creation of, ot contra,ct for the creation of, any lien, encumbrance, transfer or
<br />sale of the Property. This right is subject to the testrictions imposed by fedetal law (12 C.F.R. 591), as applicable. This
<br />covenant sha11 run with the Properiy and shall remain in effect until the 5ecured Debt is paid in full and this Security
<br />Instrument is released.
<br />PROPERTY CONDITION, ALTERATIbNS AND INSPECTION. Trustor will keep the Properly in good condition
<br />and make a11 repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impainment, or
<br />deterioration of the Properiy. 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, restrictive covena.nt or easement without Beneficiary's prior written consent. Trustot will
<br />notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the
<br />Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficia.ry's option, enter the Property at any reasonable time for the patpose
<br />of inspecting the Properiy. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a
<br />reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficia,ry's benefit and
<br />Trustor will in no way cely on Beneficiary's inspection.
<br />AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security
<br />Instrument, Beneficiary may, without notice, perForm or cause them to be performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amount necessary for perfotmance. 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 Beaeficiary'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 reasonable manner, Beneficiary ma.y take all steps necessary to protect Beneficiary's
<br />security interest in the Property, including completion of the construction.
<br />ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, in trust for the
<br />benefit of Beneficia.ry as additional security all the right, title and interest in the following (all referred to as Property):
<br />existing or future leases, subleases; licenses, guaranties and any other written or verbal agreements for the use and
<br />occupancy of the Properiy, including any extensions, renewals, modif'ications 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 or Rents is determined to be
<br />personal properly, this Assignment will also be regarded as a security agreement. Trustor will promptly provide
<br />Beneficiary with copies of the Leases and will certify these Leases are true and cortect copies. The existing Leases will be
<br />provided on execution of the Assignment, and all future Leases and any other information 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 as Trustor
<br />is not in default.
<br />Upon default, Trustor will receive any Rents in trust for Beneficiary and will not commingle the Rents with any other
<br />funds. Trustor agrees that this 5ecurity Instrwnent is immediately effective between Trustor and Beneficiary and effective
<br />as to third parties on the recording of this Assignment. As long as this Assignment is in effect, Trustor warrants and
<br />represents that no default exists under the Leases, and the parties subject to the Leases have not violated any applicable law
<br />on leases, licenses and landlords and tenants.
<br />LEASEHOLDS; CONDOMINI[JMS; 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 all of Trustor's duties uader the covena.nts, by-laws, or regulations of the
<br />condominium or planned unit development.
<br />�M OO 1994 Bankars Systems, Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002
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