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<br /> .---- - t B.pn f��ue astvances from BeneBciary to Tiostor or o�r fnture obli�u ons of Tn�stor to BeneSc�a,ry er any --• ..�- :
<br /> -,�— promisory note,wnuact.gt�uanty,or other evideaae of debt eaecutecl bY Tniswr in favor of Beaefie�arg eaecuted : . . . . '.
<br /> � �M,,,n,�,r� ifically ieferenced. If moie t6an one
<br /> . a ft e r t h i s S e c m i ry lnsmmient whether or aot this SECUrity i spec , .. .
<br /> person signs this SeauitS►.Instnnnent. each Trustor agrees t h a t t h i s Securi ry I n m a m e n t w�t s e c u r e a B f u t n r e .
<br /> . . � ,advances ansi futare obli oas that ue Siven w or iasutied by any one or moie Tr�utor,or any one or uwre Tcustor __
<br /> � � aad others. All future n and other futare abligations ace secared by this Sectuiry Iansumeut even dwugh all , .
<br /> - or parc may not yet be advanceil.A11 futu�e advances and other futuie obLgaaons a:e s�as if made on the date �4�.. � -
<br /> , . � ` of ttns Seca�ity Insuument.Notbing iu tbis Se�a�rity Ia�umeni shall conmtate a commimient ta mak�additional or
<br /> � � (,r---.� futnre loaas or advances in aay amount.Aay s v e h comautmen t m u s t be ag�eed c o in a s�arate wcitin g. ":. � . - .
<br /> . . •=Y`"''`' C.All oblig�tioas Trustor owes to Beneficiary.whicL taay lacer azise.to che extent not prohibited by law. including. .
<br /> - . -=� -'?�•= but not lmtited to. liabilities for overdrafts relaung to any deposit acmunt agre�cent between Trvstor and _- : -
<br /> - BeaeSciaty. " -- -
<br /> �.- -- . -+- D.All a d d itio n a l suuu a d v a n c x d a n d cxpe n s e s i n c u a e d b y BeueS c i a ry for insariuS,preserving or otherwise protecxiag ---— —
<br /> ` � the PropertY and'us value and any o t her svms advanced and expenses'vr�ured by H eneficiary under the te�s of thu ,
<br /> Serurtty Ins�nnent- . , .
<br /> �S�rlty lnstmment w�l nnt sewre any other debt if Benefu�iary fa�s to give any requited noti�e of the right of ` •
<br /> rescission • • � •;f:�_�
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<br /> 5. PAYN3ENTS.Tzust�nr ag�e.s that aIl papments nnder the Secuted Debt will be paid when due anrl in accordance with the ` :: :..
<br /> � ` te�s of the Secured Debt and this Secoruy LuYCamen� "- •, ;
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<br /> 6. {iyA1iRANTY OF TITLE. Ttustor wattants tliac Tn�stor is or will be lawfiilly seized af the estate comeyed by this ��
<br /> . ` . ����e���tnhe�P peity is u�nelac�berecl,e�cePto*elncumb�ances of record. •iu uust,with pmver of .. _ ;{
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<br /> � 7. PRIOIt SEC[JRITY ItV'TERF,SI'S.Wid►regand to aup other mort�age,derd of tnuc, secun►y a�e►.� or other lien ;� ,_ ,_..� �-
<br /> , document tBat created a grior secarity inrerest or encnmbiance on theProperty,Tmstor agrees: •'' f.:' �::�,
<br /> • • A.Ta ma�e all paymeuts when dae and to perfoim ur complq with all cavenants. • t ' _-"
<br /> � - B."JCo grotnpdy deliver to Beneficiary any not�ces that Tiuswr receives from the holder. * �,,
<br /> � _ . C.N o t t o a ll o�v a a y m a d i ficauoa or extension uf, nnr to r e q�cest auq fatuze advances nnder any note or agreemenc � ,�
<br /> '. secaced b9 the lien dacum�nt without BeneSciary's prior wntten wusent. � .;'.�; �=v-�
<br /> .. leasr a nts gcound�nts, . ,_. _;�_'=:�.:
<br /> " , • ;.., 8. CLAIlYLS AGAINSS�TiTLE.Tiustor will pay all qxes,assessments liens,encnmbnusces, P Yme. . � ,�:"..;f;�,
<br /> utilities,aud other charges nelatinS w the Property K�1CD IIIIC. Bene�ciary may re�aire Tzuswr to pmvide to Benefcciary ,, .j.s,.�-�-
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<br />-- • - � cnpies of ail nuaces tLat suc�►amounu aie dae and the receipts evidencin�Trostor s papment.Tn�sior will defend dde t� .._;;}��,�L-;-
<br /> tLat
<br /> ' � �;�� ;. the Property against any clain�s that would impair the lien of tl�is Securttp Instcumeni. Tntstor agtees to assign to �._
<br /> Ben�c�ary,as reque.sced bp BeneSciatY�anY rights,claims or defenses Tiustnr may have against pazties wlto svpply labor
<br /> - '• . or matezials to mamtam or improve the Property. � r��
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<br /> � ' , '� 9. DUE ON SALE OR ENCUMSRANCE.BeneSciary inay,at its option,declare the enrire balauce of tlie Secured�Debr� �,�' ;
<br /> � ' ,, be iuimediately due and payable upon the ereation of,or conuacc�or tUe creativn of . lien,enca�mbrnnce. :,;;'m•�
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<br /> • � sale of the Pmperty.;I7us d�ht is sub3ec�to the r�ctions imposed by federal law�IZ�.F.R. 591,as app�icable.This . •;,�,,,�.
<br /> ' � - covenant shall ran RnW the Property and shall iemain in ef3'ea until the Sewred Debt is paid in�ull anT t6is Secarity. '.��1l.,�:.
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<br /> L�sutunent is released. • � : . �.. •�`:
<br /> � 10. PROPER�'Y CONDITION,ALTERATIONS,AND IlVSPECIION.�m5tor arrll keep the Propeny in�ood condition - �:,�:'
<br /> � � �nd meke all aics that are reasoaably'�ary. Tmstor shall noi cammit or aliow any waste,'�mpairmeat, ar
<br /> �.teriosauon of�Property Tmstor will keep the Property free of noxious weeds and scasses.'P�vstor agrees that the : ° . <�:._.�
<br /> nanue of the occupancy and use wiU nat substantially chauge witBwut Benefcciary's pnor written consent.Tzustor�viU not R.',.. `�'"•��
<br /> - � . pzrmit anq change in any license,restricdve covevant or�uement witi�aut Be�uficiac}t s priur wriiren consent.Trasror will _. _, __
<br /> . notify Beneficiary of all demaacl�. pmcxeilings, claims, and acdans against'Tsustor, and of any loss or damage to the •� � � __
<br /> ,� . Pcoperty. ., .�-.
<br /> _ � BeneSciacp or Bene�CCiary's agents may,at Beneficiary's opdon,er.[er the Prapeity at any reaaonable tl�ne for We puipose . `. _�
<br /> � � of inspecbng the Property. Beneficiary shaU p.ve Trustor nodce at the tuue of or before xn �ection spe��ng a �:
<br /> • ' reasonabte�pntpose for tLe ia�pecdon. Any inspect�on af tbe Progerty shall be entirely tor Bens ciary's beuent and : �1..:,. ._
<br /> � _ . Tn�stor�vi l l in no way re ly an Bene fic i a ry's iaspec don. ' � '�`4��
<br /> .� � 11. A�UT�30RITY TO PERFORM.Jf Tivst�r fails to perforiu any dnty or any of the covenants wntained in this Security `'�t''_
<br /> . � Insunment, Beuati�iary may, wiWont nodce, perform or cause thecn to be•perfurmetl. Tcustor�poiuts Bene6ciary as
<br /> • a�toraep in fact to sign Tnutor's name or pay any amouut nec�ssa.y for perfatmancc. Heaeficeary s right to perfaim foi •... .
<br /> ' ' � Tcustor shall not create an obligaaon to erfomi.and Beneficiary's failure to perform will not preclude Bene6ciary fram . ; -
<br />.�'!' exercisin}�any of Benefic ary's other rig�ts undcr the law or tLis S e c u r i t7 I�t e u m e n� I f a ny s o n s b�u c t i o n a n t h e P ra�ert�r . . -
<br /> ' � is discont�nued or noi camed on in a rrasanabte manner.Hene6ciary may take all steps ac�cess�ary to protect Benefic�ary s : •
<br /> • � security interest in the Property,inclading wm�letion of the coruuucdofl. -�-" � : : .
<br /> � ' 1Z. ASSIGNMENT OF LEASES AND DtE1�TS•Tnutor inevocably gran�s. codveys and setls co Tmstee, in avsc for th� �
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<br /> ; � � ' b��ne5t of Beneficiary.ac addidonal security all the r�ght.atle anci interest in and to aay and atl existing or fdture leases, ��� ` .
<br /> • � s�iblease�,and any other written or ver b a}asreemen t s for t h e u se and oc�,�u paiicy of an y onion of the Property,including .
<br /> � . � ' � a�iy eatensioas.renewais.tuoclificarions or substit�dons of sucL agceements(a l l refer�to as "Leases)anJ rents, issues
<br /> aud profits (all refened to as "Rents°). Tnutor wi11 promptly rovide Benef�c'�ary witv uue and wnect wpies of all ,
<br /> � • exispng ar.�future Leases.Trustor may collect.receive,enjoy�use the Rents so long as Trustor is iiot in default und�r . . .
<br /> •� the temis c�f this Sccurity lnstrument. �
<br /> � � Trustor acknuwleslges that tl�is assignu�ent is perfected upon d�r tecording i�f tbis Deexl of Trust wd that Bene6ciary is � • . �
<br /> cutided tu notify fwy oi Trus:or's tcuasts•w makc�raymeni of f:en:s due .�r to becotue due to Br.ncf:c:a.ry. However. •
<br /> ' Beneftciary agrees tLat only on def:�ult.will Benefcc�ary nadfy Trustar and Ttustor's'tenauts and make drmand that.all . .
<br /> funue Ren[s br paid d�rect�iy to Beneficiary.On receiving»ntice of�efault.Tnutflr�vill endorse and deliver to Beneficiaiy �
<br /> a��y payraent of Rents in Trustor's possesslon:wd�vill receive any Rents in frust for Beneficiary and will not commingle
<br /> - the Rents with any ather funds. Any amounu collected wiU be appli�l s�s ptovided in this Security lnsmunent.Tn�stor �
<br /> - ' �warrants that no default eaists under the Leases or any applicahlr landinrJ/tenent law.Tcustor also agrees to maintain and
<br /> , � require any tenant to comply with tiie ten�L,of tha Leases and appiiwble la�v. , -
<br /> .' . � 13. LEASEHOlAS; CO,�IDOMIN[IJD1St PLAIVIVEU UNIT DEVELOP,�N7S. Tivstor agree� to wmply,with the •
<br /> provisions of any lease if diis Security�b�strument is on a(easehold. If the Property includes a unit�»a wndommiwv or a
<br /> . ' 1 planned unit development.7`rustor w�ll perfc�m�a11 of'Trustor's duti��s under sl�e covenants,t�y-laws,or reguladur�s of the
<br /> icnndonvnium or plamied unit devetopment. .
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<br /> � C 1994 BeNero Syftema,Inc.St C�ouC.MN It•804397�23A11 form RE•OT•t�E 9/13/9G
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