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<br /> Granwr to provide to Lender coples of all notices thae such amounts are due ar�d the recelpts
<br /> i evldencing Grantor's payment. Grancor wlll defend tiele ta the Property against any claims ei�ae would
<br /> Impair the lien of this Security Inscrument.Grantor agrees to.asslgn to Lender, as requested by Lender,
<br /> - � any rights, claims or defenses Grantor may have agalnst parties who supply labor or matQrlals to •�
<br /> ° � malntaln or improve tF�e Property. ,
<br /> 9. DUE ON SALE OR ENCUMBRANCE.Lender may,ac its option,declare the entlre balance of the Secured �
<br /> a Debt to be immediately due and payable upon the creatlon of, or contract far the Greatlon nf, any Ilen�
<br /> encumbrance, transfer or sale of the Property. This right is subJect to the restrlctlons imposed by -
<br /> federal law(12 C.F.R. 591) as applicable.This covenant shall run with the Property and shall remain fr� _
<br /> effect untll the Secured ne�t is pald In full and thls Securlty Instrument i�released.
<br /> 10. PROPERTY CONDITION� A�TERATIONS AND INSPECTION. Grantor verlll keep the Property In good ,.��,a,,�
<br /> condicfon and make all repafrs that are reasonably necessary. Grantor shall not commit or aflow any ��_-�;•�,,:
<br /> waste, impairment, or deterioration of the Praperty. Grancor will keep the Property free of noxfous T_��
<br /> weeds and grasses. Grantor agrees that the nature of the occupancy and use will not substantlally ,`,:c:,..__���—
<br /> � change with�ut Lender's prior written consent. Grantor w(II not permit any change in any Iicense t,��:-�
<br /> restrfctive cavenant or easemen¢ witiiout Lender's prior written consent.Grantor w�ll notify L_ender o� , _-_ _
<br /> all demands, proceedings, claims, and actions against Grantor, and of any loss or damage to the �� j`= •
<br /> � Property. � ,+�:..���
<br /> :;i� Lende� o� Lender's agents may, at Lender's optlon, enzer the Properry at anK reasonable time for th� •°�� ,;,.;�;-�_�=
<br /> _ ..�a� purpose of inspecting the Property. Lender shall give Grantor notice at t e time of or before ao� ��.:.,_--
<br /> 'j inspection specifyin a reasonable purpose for the Inspecelon. Any inspectlon of the Property shall be ;,,� �-^
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<br /> .;,:;' entirely for Lendei s beneflt and Grantor wifi in na way rely on Lend�r's Inspectlon. .
<br /> ' 1 1. A U'�H O R I n T O P E R F O R M. I f G r a n tor fails to perform an y duty or any of the covenants contained in • �
<br /> �� this Security Instrument, Lender may, without notice, perform or cause thern to be performed.Grantor �� �
<br /> appoints Lender as attorney in fact to sign Grantor's name or pay any amount ne�essary for
<br /> performance. Lender's right to perform for Grantor shall not create an obligat(on to perform, and � � .
<br /> � Lender's faflure to perform wlll not preclude Lender from exercising any of Lender's other rights under . ;f* � � ' ,,,
<br /> _ rhe law or this Security Instrument. If any constructlon on the Property Is discontinued or not carried -.�,,,�,�- -
<br /> an In a reasanable manner, Lender may take all sceps necessary co proieci�eiiuei's secu�l.�+f��t�:::st:r. ; � ,.
<br /> the Properey, Including completlon of tne constructton. �': � �
<br /> 12. ASSIGNMENa OF LEASES ANO RENTS. Grantor irrevocably rants, conveys and sells to T�ustee In •ia . `
<br /> trust for the beneflt of Lender as additienal se2uricy all the rig�t,dtle and Interest in and to any and all
<br /> existing or future leases, su6leases and any other written or verbal agreements for the use and '�� :�' ,
<br /> occupancy of any portlan of the �roperty including any extenslons, renewals, modiflcations or �: �
<br /> subsdtutfons of such agreements(all referre� to as"Leases'')and rents, issues and proflts (all referred �;
<br /> tn as "Rents"). Grantor will promptly provide I.ender with true and correct copies of atl existing and ,
<br /> futurp Leases.Grantor may collect, receive,enJoy and use the Rents so long as Grantor is not in defa�lt
<br /> under the terms of this Security instrument. = !
<br /> Grantor acknowledges that this assignment Is Perfected upon the recording of this Deed of Trust and j�►a
<br /> � that Lender Is entitled to notify any of Grantor s tenancs to make paym�nt of Rents due or to become ,��a�.�
<br /> due to Lender. However, Lender agrees that only on default will Lender notify Grantor and Grantor's �'=�-::
<br /> tenancs and make demand that aTl future Rents be pald directly to Lender. On receiving notice of :-��,
<br /> default, Grantor will endorse and deltver to Lender any payment of Rents in Grantor's posSesslon and ',.<<�-r��
<br /> will rece(ve any Rents in trust for Lender and wlll not commingle the Rents wlth any other funds.Any :���f.��.-�_::.
<br /> amounts collected will be applied as provided in thls Seeurity Instrument. Grantor warrants that no ���::ry--
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<br /> default exists uncler the Leases or any applicable landlorc'/tenant law. Grantor also agrees to malntain . ;,-�°y_�
<br /> � and require any tenant to comply with the terms of the Leases and applicable law. � �`=,,;tr,_. � �-
<br /> � i3. LEAS�HO L D S;C O N D O M I N I U M S;P L A N N E D U N i T D E V E L O P A I E NTS.Grantor a grees to comply with tl�e �����°��
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<br /> provisions of any lease if thls Security Instrument is on a leasehold.If the Property includes a unie i�+ a :_ _ ___.,.ti�:�
<br /> -� condominium or a planned unit development, Grantor will perform aU of Grantor's duties under the _ __
<br /> � covenants, by-laws,ar regulatlons of the condominium or planned unit development. ;;---
<br /> 14. DEFAUL.T.Grantor will be in default If any party obllgated on the Secured Debt falls to make payment �� ;� y.�,'s'^ w'
<br /> when due. G�antor will be In default if a breach occurs under the terms of this Security Instrument or •'�';�;"-��.:
<br /> any other document exewted for the purpose of creating� securing or guarantying the Securpd Debt.A •-•:��'•. •n•.it,.
<br /> good faith bellef by Lender that Lender at any time is insecure with respect to any person or entfty , . , •:�;=
<br /> obligated on the Secured Debt or that the prospect of any payment or the value of the Property is
<br /> impaired shall also constltute an event of default. , .
<br /> 1 S. IiEMEDIES ON DEFAULT. In some tnstances, federal and state law will require Lender to provide .. .
<br /> Grant�r with notice of the right to cure or other notices and may establish time schedules for
<br /> foreclosure actions. SubJect to these Ilmi¢ations, if an Lender may accelerate the Secured Debt and
<br /> foreclose this Securicy Instrument In a manner provfdec�by law If Grantor Is in defautt.
<br /> O 1994 Mnk�n Syfttmi,Inc.,SC Cloud,MN(1 600 397 2741) Fnrm GTH MTGLAZNE 10/I I/94 GT�t S 2a-090 f9/94) lPaY�i o/61 ••
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