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<br /> -- $, p►il future advau�frum Lcader ta f ra:tor or^ther fuiure ob!igations of f�rantor to Lend�r unJer any prum;atiory � `� • • '
<br /> note,wnuact.guaranty.ar oWer evidence of debt executed by Grantor in favor of Lc nder executed after this . ";,? __.
<br />� , Securiry Instrument whether or not this Security Instrument is specifically referenced.!f more than onc penun , �. ,'. , ` .,.�
<br /> . •. rigns this gecurity Instnunent,each Granwr agees Ihat this Security Instrument wiU secure all future advances and ' • _
<br /> , future obligarions that are given to or in�urred by any one os more Grantor.or any one or inore Grantor and , � ,�
<br /> ��� others.All fi►ture advanc�s and ather future obligations are secured by this Security Instrument even thou g h a ll or . �
<br /> part may not yet be advaneed All tuture advances and other future obl�gauons are secured as if made on the date �� ; �, :- r .-_-
<br /> � of this Securiry Instrument.Nothing in this Security Instruinent shall constitute a commitment ta make additional _
<br /> ` or future loans or advances in any amoun�AnY such commitment must be ageed to in a separate writing. . ` _
<br /> '�` � C_ All obligations Grantor owes to Lender,which may later arise,to tlie extent not prohibitcd by la��,includiag,but __.__._—,�:,�_
<br /> _ �`�:`�. .
<br /> not limited to,liabitities for overdrafts reiating to any deposit accaunt agreement between Grantor and Lender. ; .
<br /> `, • D. AU addiuonal sums advanced and expenses incained by Lendec for insuring,preserving or otherwise pro.ecting . • . .K.:.,. `�:
<br /> �' `• the Property and its value and any other sums advanced and expenses incuned by Lendrr under the terms of .. ... .. . ...: . . _
<br /> ' this Security Instrument ..:�,� �. .. _;;��';;�_
<br /> v.,;.:..,:�..
<br /> _ 'Si 5;��'-_'
<br /> Ttus Security instrument will not secure any other debt if L,ender fails to give any tequired notice of the right of resci.s.sion. '. 'Y- ,.._�s„�:
<br /> s. PAYMEN'I'S.Grantnr agrees that all payments under the Secwed Debt�rill be paid when due and in accordance , "f y =
<br /> vrith tlte terms of tHe Secured D�bt aad this Security Insuumen� ��;� �• �»�••--'=�--
<br /> ry. r.
<br /> � �yARRANI'y��'H�'Ii'LE.Grantor warrants tP�e Grantor is ar will be i.aw�tally seized of the esta�e coaveyed by this _�s:;w, ';,. '.`�;w���_�gry;_�;
<br /> � Security Insvumer.t and has the right to irrevocably grant.convey,anc�sell the Property to Trustee,in mut,with •s:�.`.'��`:a�r.��- -�_
<br /> �• ,. power ef sale.Grantor also warrants that the Property is w�er:a�bered.e�rrpt for encumbrances of record. �`� '` �,_
<br /> ,. .- s` L �,.-
<br /> 7. PRIOR SEClJH�7'IlX aVTERE�'i'S•wth regard to any other mflrtgage.�:z�i of trust,security agreement or other lien ,,�':' .�� �- �
<br /> document that cr�cell a prior security interest or encumbrance on the P�o�.rty.Grantor agrees-. �'f:�r� . �• . ••:� ,';_:,.
<br /> �>, _ ,
<br /> � ` A. To make a11 payments when due and to perform or comply with all rnrenants. . . �;�,�;, ;-:..., :.� •�Y-r,
<br /> �• B. ""_'fl promptly deliver to Lender any notices that Grantor receives fram the holder. •
<br /> .. ��,;;�_ : _:
<br /> • � � C. iti�t to allow any modification or extension of,nor to 7eqnest any future advances c�nder any note or agreement �.�.�:3..Y��;x.��y;, _•-
<br /> ' .�.�=3,��.r•.i�,�.l•} .
<br /> s;;.ured by the lien docurnent without L.ender's prior a7itten consent. �' �.•" �r '����`,f;t;-:� ,� �
<br /> ` � $, CH.�ii�.S AGAINST T1TLE.Grantor wiU pay�a!! taxes,assessments,Gens,encumbraaces,lease paymenu,gcound ;3''' := ,� _�'_''`
<br /> ,..,, , ��.� '-' -
<br /> - re*ts.ctilities,and other charges relating to the Property when due.Leader may require Grantor to p.ovide to Lender <, , £���, ,•j. '{�,.y
<br /> _ ce���.��f all notices that such amounts aze due and the rece ts evidenr�n Grantor's a enG Gr�ntor will defend -��� ' 'S�'
<br /> iP b P W► �';,�', � •:�;:" --
<br /> tit:e c�th�Properiy against any cla'uns that would impair th�lien of this Security InstrumenG Grantor agrees to assign •r:; �
<br /> to Le�3er,as requested by Lender,any rights,claims or dz�ensrs Grantor may have against parties who supply labor ��-�
<br /> .�. � .-
<br /> or materials to maintain or improve the Property. j' `` ��" �4 .
<br /> 9. DUE ON SALE OR ENCUMBRANCE.Lender may,at iss option,�+�clare the entire balance of the Secured Debt to .r � ` . '�` �,
<br /> . .iwC•rM+-�,- '"
<br /> ' ' be immediately du��nd payable upon the creation of,or con=.ract for the rreation of,any tien,enn::-�brance,transfer '���,,'•; . ,�l(�.r ':�
<br /> ' •�� � or sale of the Proper�y.This right is subject to the restric�css i�posed by federal law (12 C.F.R.59I),as applicable. "' �•` '.�..^• ,___
<br /> ` � This covenant shall run with the Property and shall re►n�.tir:.� effect antil the Secv:vS �bt is paid in fu[1 and this _ �+��i����" _._
<br /> �.. Security Instrument is released. j�� i� ! ;
<br /> 10. PROPERTY CONDITION,AL7'ERA'Td�l�AIr'ID�3P�CTION.Grantor will keep t�� u ra�erty in good � ,��•�.�� �:-
<br /> conditian and make all repairs that are reasc�3L�y r.ecessary. Grantor s4�all not commit or�i:ow any waste, ��` �'�';'
<br /> ., �;��.. �.,�.,
<br /> impair�ent,or deterioration of the Property. Granao:�.�:1 keep the Property free of noxiuus weeds and grasses. ,._---
<br /> Gran.:�*agrees that the nature of the occupancy and use wn1�aot substantially change without Lender's priar wr'stten
<br /> n� Grantor will aot crmit an change in any licer.se,-estrictive covenant or easement without Lender's prior _=�'
<br /> � wnse P Y • -
<br /> written consent.Grantor will notify Lender of all demancts,proceedings,claims,and actions against Grantor,a�d of ��-�--�
<br /> „ - any loss or damage to the Property. . ,�,yq�-_-��
<br /> � � Lender or Lender's agants may,at Lender's option.enter the Property at any reasonable time for the purpose of ��_ -- s,:;i�,�":-- �-.�
<br /> �• inspecting the Property. Lender shall give Grantor notice at the time of or before an inspection specifying a ��'� �
<br /> reasonable pwpose for the inspection.Any inspection of the Property shall be e*z�:r�ly for Lender's bene�'Tt and �����,-��'�_a.
<br /> � �.. Grantor will in no way rely on Lender's inspectian. '•'�
<br /> ' IL AU7'EIORTfY TO PERFORM.If Grantc-�_>ils to perform any duty or any of the covenants contained in this °�-.�,,_
<br /> � Lender ma ,without notice, erform or cause them to be perfornied.Grantc.zppoints I.ender �__t�.,
<br /> � , . Secunty Instrument, y P �A�...q,n�. _
<br /> • a�attomey in fact to sign Grantor's name or pay any amount necessary for pedormance.Lender's right to pedorm for �`_
<br /> � . Grantor shall not create an obligauon to perform, and Lender s failare to perform will not preclude Lender from P1°�'�'�:'��_
<br /> exercising any af Lender s other righu under the law or this Security Instrument.If any construction on the Property is '`_
<br /> discontinued or not carried on in a reasanable manner. Lender may take all steps necessary to protect Lender's :_.�__. __
<br /> ` , security interest in�!^.e Property,including:.ompletion of the construction. .�;'.�
<br /> � l2. ASSIGNMEN'!'OF LEASES AND RENTS.Grantor irrevocabi nts,conve s artd sells to Trustee,in trust for the '��`�'`'�'`""�
<br /> Y� Y .�.q,�•...:�.<.o_.
<br /> � � benefit of Lender,as additional security all the right,title and interest in and to any an6 all existing or tuture leases, �� �.�-�,•.:
<br /> � suisleases. and any other written or verbal agreem$nts fce the use and occupancy r,` any portion of the Property, �
<br /> • including any extensions,renewals,modifications or substi�ations of such agreemcr.ts�:�i�refened to as"Leases")and � �:�`.
<br /> � �. .� rents,issues and profits(all referred to as"Rents").Grantar will promptly provi�� Lender v�:�� true and correct .;;.::.�.,;..;,;,;�,�,,,::•'�
<br /> � copies of all existing and future Leases.Grarr:�c may collect,receive,er.��and use ti:�Rents so icr;���Grantor is not _ —�
<br /> ` in default under the terms of this Security InsT.�,:ment. - � "`}"«%�•
<br /> •�•��'"1+��{•' Grancor acknowledges that thi�assignment is perfected uper,the recordirg of this a:ed of Trust and that L�'r.�er is .�s-
<br /> � :,''i;r.�;e., .- ..
<br /> �"•;;;"�t�,�. entiu��i to notify any of Grz.�.:ns.`s t`e�nts to make pay:n:�r.r of Rents duc: or to ��come due ta L en der. Ha•�evcr, ���,.;'.-;:.::;•�,,,_
<br /> �,: .;"�?•,.,,�. . .
<br /> • Lender agrces that only on default will Lendcr notify Grant�and Gr2r.:�r's tcnams and make demand that all futurc __��.;; �-:�
<br /> • Rents be paid direcdy to Lender. On receiving nohce of default,G;a:tor will endorse and deliver to Lender any _ —
<br /> �. � payment of Rents in Grantar's possession and will rECeive any Rents in trast for l.ender and will not eommingle the ��'`
<br /> Rents with any other funds. Any amounts collected will be applied as provided in this Security lnstrument.Grantor _ '''"� �
<br /> - . 1�%'' L'.-'_�:
<br /> � warrants that no default exists under the Leases or any ap�flicable lartdlord/tenant law.Grantor also agree.s to maintain �
<br /> • and require any tenant to comply with the terms of the Leases and applicable law. � .' :
<br /> ' 13. LEASEHOLDS;CONDOMINIUMS;PLANNGD UNiT DEVELOPMENfS. Grantor agrees to comply with th�• • • . .
<br /> � provisions of any lease if this Security lnstrument is on a leasehold. if the Property includes a unit in a condominium ' . . . _
<br /> '. or a planned unit development.Grantor will perform all c�f Grantor's duties under thc covenants,by-laws, ar =_^_
<br /> regulations of the condaminium or planned unit development. ,_ �_��
<br /> ;.�-• 14. DEFAULT.Grantor will he in defanit if any party obligated on thc Sec�rcd Dcht fails ta makc payment when due. — ..
<br /> � � Grantor will be in default ii a hreach occurs un der t he terms o f t his Security lns trumen t or a n y o t h e r d o c u m e n t � `�°"`
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<br /> � � O 199J Bantet9 SYacMn9.tnc-St CWuO.MN 1+�604397�23lt1 Fortn HE�DT.NE H�HRS� . `- —
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