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<br /> B.AU future advunces from Beuefciary to Trustor or ather future obli ations of Trustor to Beneficiary under any -_
<br /> promissory note, contract. guarsuuy. or other evidence of debt execute�by Trustor in faror of Beneficiary eaecuted
<br /> nRer this Securlty Inst�ument whether or not thia Security Instrument is specificully referenced. !f more then one ,.
<br /> person 61gns this Security ln3trument, each Trustor a�rees that this Securiry Instrument will secure all future • '
<br /> . ndvan�ces und future obligaiiona that are given to or incurred by any one or more Trustor,or a�iy one or more Trustor „ _
<br /> nnd others. All future advances and other future obligations are secured by this Security Instrument even though nll
<br /> or part may not yet be advanccd.All future sdvances and other future oblfgations aze seeureci as if made on d�e date • ,
<br /> of this Security Instrument. Nothing in this Security Inserument sh�ll constitute a commitm�nt to malce addlcional or
<br /> future loans or advances in any amount.Any sucli commitment must be agreed ro In a separate writing. � , ,
<br /> �• " C.All obligations'I'rustor owes to Beneficiary, which may later arlse, to the extent not prohibited by law,including,
<br /> ��-^�'°'`'r but not limIted to, liabilities for overdrafts relating to any dep�osit account agreement between Tmstor and
<br /> • "' Beneficiary. " '_
<br /> D.All add3tional siuns advanced nnd expenses incurred by Beneficiary for insuring, preserving or otherwise protecting , �;, �,
<br /> the Property and iu value and any other sums advanced and eapenses incurred by Beneficiury under the tem�s of this •-
<br /> Securlty Insmuuent. ;�z-:�-
<br /> Thls Secudty fasmiment aill not secure any other debt if Beneficiary fails to give any required notice of the rlght of � �����
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<br /> � rescission.
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<br /> 5. PAYIVIENTS.Trustor agrees that alI payments under the Secured Deb[will be paid when due and in accurda�nce with the .;, ?t'-�'°�----
<br /> terms of the Secured Debt and this 5ecurlty Instrumeut. ��«.ti�-:-
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<br /> - 6. WAIiP.AMTY OF TI'E'LE. Trusror r�arrants that Trustor is or���ill be lav�fully seized of the estate conveyed by tlsis � `'��`�
<br /> Sec�uity Instrument and l�as the ri�hht to irrevacably gsant,convey,and sell the Property to Trustee,in trust,with power of "-
<br /> „ z, sale.Trustor also wazrants that the Property ie unencumbered,except for encumbrances of record.
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<br /> " 7. PRIOR SECUItT!'Y INTFRESTS. Wlth regard to any other mortgage, deed of tcust, security agreement or oiher lien '• '�• . . ,:�;�
<br /> • �: document that created a pzlor security interest or encumbraace on the Property,Trustor agrees: '` .;:�, _,�-=•�
<br /> A.To make all payments when due and to perform or comply with all covenants. �'"Y � '�•
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<br /> B.To promptly deliver to Benefictary any notices that T'rustor receives from the holder. " J k
<br /> C.Not to allow any modifica.tion ur exteasion of, nor ro request any future advances under atty note or agreement S<�,,��� .
<br /> " secured by the lien docwnent without Beneficiary's prior wrltten consent. • rM,�.
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<br /> { 8. CLAIlVIS AGAIIV51'Tl7I'LE.Trustor will pay all taxes, assessments,lieas,encumbrauces, lease payments,ground renta,
<br /> , utilities, end other charges relating to the Property when due. Beaeficiary may reguire Trustor to provide to Heneficiary �
<br /> q�; copies of all notices that such amouats are due and the receipts evldencing Trustor s payment.Trustor will defend title to _
<br /> the Pmnerty against anv claims that would impair the lien of this Security insuument. Trustor a_r_rees to assian ro _
<br /> 4 Benefic��ry, as requested by Beneficiary,uny rigbts,claims or defenses Trustor may have against pa:ties who supply7abor °_
<br /> or maten"als to maiatain or improve the Property. '�' '
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<br /> 9. DUE�N SALE OR ENCUII�BRANCE. Beaeficiary may,at its option,declnre the entire balance of the Secured Debt to '••ti- i ��_
<br />_ ' be immediately due and payable upov the creadon of,or contract for the creadon.of, any lien,encumbraace,transfer or ���%�"
<br /> sale of the Property.This d�h t is subject to the restrlctions imposed by federal lav�(12 C.F.R. S91),as applicable.Thia
<br /> coveuant shall rua with the P r operty and shall remsin in eff�ct until the Secured Debt is paid in full and thle SecurIry =.
<br /> Instnunent is released.
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<br /> • ' Y ' 10. PRAPERTY CONDI�'ION,ALTERA'1'IONS AND IN3PECTION.Trustor will keep the Property in good condltioa ..
<br /> ` • °� and make all repairs that are reasonabiy necessary. Trustor eh�ll not wmmit or allow any waste, impairaient, or ','�_ ��
<br /> '� ' d,terioraUon of 2he Property Trustor will keep the Property free of noxious weeds and grasses. Tiustor agr�ees i6at the
<br /> nature of the occupancy and use will not substentially chnnge without Beneficiary's prior written consent.Trustor will not -�'
<br />�'�' p. ' pemut any change ln any license. restrlcdve covenant or easement without Beneficlary's prior wrItten consent. Tcustor will -�
<br /> a:4',-• �._� notify Beneficiary of aIl demands, proe:eedings, claimg, and acdons agatnst TYvstor, and of any loss or damnge to the °
<br /> ,,.._ ....� . praperty. �-�_
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<br />-�����"' � . Beneficiary or Beneficiary's ageats may,at Beneficiary's opdon,.enter the Property at any reasonable time for the putpose �•`,-
<br /> `� ��'' ting the Pco y
<br /> of inspec perty. Heaeficlary shall give Trustor nohce ut the time of or before an inspectianspeci� ing a Gr
<br /> ' ,:�;; reasoaable puipose for the inspecdon. Any inspection of the Property shell be eatirely for BeneGciary s benefit and -�
<br /> 'IYustor will in uo way rely on geneficiary's inspection. �<<
<br /> -'��-�;: - 11. AiJTSORITY TO PER�RM. If Trustor fails to perform any duty or any of the covenaats contained in thfs Security �.'.-"��—�
<br />="� "� � Instrument, Beneficiary may, without aotice, perform or cause them to beperfom�ad. Trustor a�points Bene6ciary as �=;
<br /> �::;,,:,��.';.', attomey in fact to sign Trustor's name or pay any amount necessury for perforn�ance. Beneficiary s d�ht ta perforw for a`_;:=
<br /> _*����.,�.,.�_� Trustor ahall not create an obligadoa to rform,and Beneficiary's failure to perform wUl not preclude Beneficiary from _ -- -- ---
<br />- � - exercising any of Beneficiary's other r��under the law or this Securlty Ixistrument.If any construction on the Property -
<br />- �'�� is discontinued or not cartied on in a reasonable manner, Beneficiary may take all steps necessary to pratect Benefic[ary s --
<br />° ' � �,• sec�uity interest in ths Properry, including completion of the consuuction. '•••- --
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<br /> � 12. ASSIGNMENT OF LEASES AND REN'TS. Trustor irrevocably grants, couveys and sells to Trustee, in trust for the __-� �--�-:-
<br /> � benefit of Beneficinry. as addidonal securlty all the ri�ht, dde and interest in end to any an�d all existin�or furore leases, •:� u� ,,—�p:::_
<br /> subleasea,and any other written or verbal agreements for the use and occupaney of any portion of the Property,lncludin� �;�;:,��-=�
<br /> „ ' any extenslons,renewals,raodlfications or subsdtutions of such agreements(all refetrcd to as "Leases") and mnts, issues � ���`
<br /> �nd rofits (all refemed to as "Rents"). Trustor will promptly provide Beneficiary witli true and wrrect copies of all :. '''a'��,:„•. ��
<br /> . exis�ng and future Leases.Trustor may collect. receive,enjoy ana use the Rents so long as Trustor is not in default undet �� - �.�;,������„
<br /> ' the rerms of th{s Security Insuument. " • ' -
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<br />. Truator acknowled�es that this assignment is perfected upon the recording of tlus Deed of Trust and that Beneficiary is ' . �,.,:��.L'
<br /> enutled to notify any of Trustor's tenants to make payment of Rents due or to become due ro Beneficiary. Ho�vever, '; __:t�,.;�,;:�r�
<br /> Beneficiary agc�ees,that only on default will Beneficiary notify Trustor and Trustor's tenants and make demand that all • ..•>• �
<br /> future Rents be pa� �d direcdy to Beneficiuy. On receivfng notice of ciefault. Trustor will endorse and deliver to Beaeficiary , �. -�.. -;-.,�
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<br /> .:r� anypayment of Rents_in Trustor's possession and will recelve any Ytents in trust for Beneficiary and will not wmmingle � �• ..,'�
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<br /> me xents wiw nuy ouier iunas. nny amoun�s wi►eccea v�mi oe appiiea as proviaea m mis �ecunry tnstnunent. 'rcustor _
<br /> warrants that no default exists under the Leases or any appllcable lindlord/tenaot law.Trustor also agrces to maintain and
<br /> require aay tenant to comply with the terms of the Leases and applicable law.
<br /> � 13. LEASEHOLDS; CONDOML►vIiJMS; PLANNED U�i!�T DEVELOPIV�NTS. Trustor agrees ro comply with the
<br /> provisions of any lease if this SecurIty Instrument i�on a leasehold. if the Property includes a unit►n a condominium or n �
<br /> ' . planned unit development,TYUStor will perform all of Trustor's duties under We covenants, by-laws,or regulations of the
<br /> condo�aunium or plannvd unit development. , ''
<br /> � IPago 2 0/41 ,
<br />-r�� . C�1996 Benkere Systcm9.1nt-.St.C�uW.MN Il•800397�Y9411 Form REDT•NE 9/13r90 -
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