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�Q110442�
<br />B. All future advances from Bene�tciary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt exeeuted by Trustor in favor of Beneficiary after this
<br />Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs
<br />this Security Instrument, each Trustor agrees that this Security Instrument will secure all fulure 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 Security Instrument even though all or part may not
<br />yet be advanced. All future 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 make additional or future loans or
<br />advances in any amount. Any such commitment must be agreed to in a separate writing.
<br />C. All obligations Trustor owes to Bene�ciary, which may later arise, to the extent not prohibited by law, including, but
<br />not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Bene�iciary.
<br />D. All additional sums advanced and expenses incuned by Beneficiary for insuring, preserving ar otherwise
<br />protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under
<br />the terms of this Security Instrument.
<br />This Security Instrument will not secure any other debt if BeneSciary fails to give 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
<br />the terms of the Secured Debt and this Security Instrument.
<br />6. WARRANTY OF 1TTLE. 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
<br />power of sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTEREST5. 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 Property, Trustor agrees:
<br />A. To make all 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 modi�cation or ertension 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 />S. CLAIM5 AGAIN5T TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground
<br />rents, utilities, and other charges relating to the Property when due. Bene�iciary may require Trustor to provide to
<br />Bene�ciary copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will
<br />defend title to the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to
<br />assign to Bene�iciary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who
<br />supply labor or materials to maintain or improve the Property.
<br />9. DUE ON 5ALE OR ENCUMBRANCE. Bene�ciary may, at its option, declare the entire balance of the Secured
<br />Debt to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance,
<br />transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as
<br />applicable. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full
<br />and this Security Instrument is released.
<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good
<br />condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste,
<br />impairment, or deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses.
<br />Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's prior
<br />written consent. Trustor will not permit any change in any license, restrictive covenant or easement without
<br />Bene�iciary's prior written consent. Trustor will notify Bene�iciary of all demands, proceedings, claims, and actions
<br />against Trustor, and of any loss or damage to the Property.
<br />Beneficiary or Beneficiary's agents may, at Bene�iciary's option, enter the Property at any reasonable time for the
<br />purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection
<br />specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's
<br />benefit and Trustor will in no way rely on Bene�iciary's inspection.
<br />11. 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 far performance. Beneficiary's right to perform
<br />for Trustor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary
<br />from exercising any of Beneficiary's other rights under the law or this Security Instrument. If any construction on the
<br />Property is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect
<br />Beneficiary's security interest in the Property, including completion of the construction.
<br />1�. ASSIGNMENT OF LEASE5 AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, in trust for
<br />the benefit of Beneficiary as additional security all the right, title and interest in the following (all referred to as
<br />Property): e�sting or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the
<br />use and occupancy of the Property, including any extensions, renewals, modifications or replacements (all refened to
<br />as Leases); and rents, issues and profits (all referred to as Rents). In the event any item listed as Leases or Rents is
<br />deterrnined to be personal property, this Assignment will also be regarded as a security agreement. Trustor will
<br />promptly provide Bene�iciary with copies of the Leases and will certify these Leases are true and correct copies. The
<br />e�usting Leases will be provided on execution of the Assignment, and all future Leases and any other information with
<br />respect to these Leases will be provided immediately after they are executed. Trustor may collect, receive, enjoy and
<br />use the Rents so long as Trustor is not in default.
<br />Upon default, Trustor will receive any Rents in trust for Bene�iciary and will not commingle the Rents with any other
<br />funds. Trustor agrees that this Security Instrument is immediately effective between Trustor and Beneficiary and
<br />effective as to third parties on the recording of this Assignment. As long as this Assignment is in effect, Trustor
<br />warrants and represents that no default exists under the Leases, and the parties subject to the Leases have not violated
<br />any applicable law on leases, licenses and landlords and tenants.
<br />13. LEASEHOLDS; CONDO�UMS; 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
<br />or a planned unit development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or
<br />regulations of the condominium or planned unit development.
<br />� ,/� (P�� 4)
<br />�
<br />� OO 1994 Bankers Systems, Inc., St Cloud, MN Form RE-DT-NE 1/30/2002
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