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<br /> B. All futurc udvanccs from Lcndcr to(irantc�r or uihc r fuwrc uhliFutiuns of c;rantcir�o L�:ndcr unJcr any promissory
<br /> notc,contract,guarunty,ur ulhc;r cvidcncc ci:d�tst cxccutcd hy Grantur in favor of l.cncicr cx��cutcd aftcr this .
<br /> 5ecurity Instrument �vhcthcr or not this Sccuri�y I nstrumcnt is spccifically r�fcrcnccd. ([morc than unc pcnon
<br /> signs this Sccurity Instrumcnt,cach Grnntur���ncs that this Sccurity Inrtrumcnt wiU sccurc all(uturc udvanccs and
<br /> futurc obligations that arc givrn to or incurrcdby any onc or morc Grantor, or;�ny cinc or morc C;rantor nnd
<br /> odurs.All futun adv�nces and other(uture iihligat i�ms;ire secured hy this Sccurity Instrumcnt cven though aU or
<br /> . ; part may not yct bc advanccd.All futurc udvanas and c>tl�cr futurc ohligations are securcd as if inedc on thc datc
<br /> .. of this Security Instrument.Nothing in this Security InstrumcnY shall constitute a commitment to mijke additional
<br /> ,�„,,:�r . or tuture loans or advances in Any amount.Any wch commitment must hc agrced to in a sepurate writing.
<br /> •� C. All ohligations Grantor owes to Lcndcr,which may Intcr arisc,to thc cxtcnt n�t prohihitcd by law,includinb,but
<br /> not limited to,liabilitics For overdrafts relating io a ny dcposit account agrecmcnt betwecn Grantor and L.ender.
<br /> D. All additional sums advanced and expenses incurred by L.ender for insuring,preserving or othenvise protecting . .
<br /> thc Properiy and its value and any ather sumsadvanced and expenscs incurred by LenJer undcr the terms of ::F,
<br /> ; this Securiry Instrument �•'��•j��`��`'�-°-
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<br /> q This Securiry Instrument will not secure any othcr debt if Lender lsils to give any reyuired notice of thc right of rescission. �`�'.�a;�;=-
<br /> 5. PAYMENTS. Grantor agrees that all payments undcr the Sccurcd Debt will be paid when due and in accordance ;`___
<br /> � with the terms of the Secured Debt and this Security I�trumcnt. � `'�, �
<br /> ;;b�•:=�—
<br /> b. WARRANTY OF TITI.E.Grantor warrants that Gr�ntor is or will bc lawfully scizcd of the estate couvcyed by this � _
<br /> � Security Instrument and has the right to irrevocablygrant, convey, and sell the Property to Trustee,in trust, with =�y;�
<br /> power of salc.Grantor also warrAnts that thc Propertyis uncncumbered,except for encumbrances of record. '�'='
<br /> ,�,
<br /> ? 7. PRI(DR SECURITY IIVTERESIS.With rcgard to any other mortgage,dccd of trust,security agreement or nther iien �;:'�
<br /> � document that created a rior securit interest or encumbrance on the Property,Grantor agrees: ��`"~'�
<br /> p Y '�� i :•.+�_.:.
<br /> � A. To make all payments when due and to perform or comply with all covcnants. __''�_=--
<br /> `��;� B. To promptly dcliver to Lcnder any noticcs thaiG rnntor reccives from the holder. °
<br /> �`:°.,-�-_-
<br /> • C. Not to allow any modification or extension of,nar to rcqucst any future advances under any note or agrecment ��
<br /> ° sccured by thc lien dacument without Lcnder'sprior writtcn consent. �:�M°�
<br /> S. CLAIMS AGAINST TITLE.Grantor will pay a1l tazcs,assessments,licns,cncumbranccs, lease payments,�round �
<br /> rents,utilities,and other chargcs rclating to the Property �vhen duc.Lender may require Grantor to provide to Lender � ��
<br /> � copies of all notices that such amounts are due and�he receipts evidencing Grantor's payment. Grantor will defend �`��
<br /> L title to the Property against any claims that would irnp�ir the lien of this Security Instrument.Grantor agrees to assign
<br /> . -:-� to I.ender,as request�d by l.endcr,any rights.clairnsor dcienx;s Graniur ivay Lavc agai�iat piutics:viiu aup�,iy ia�:.r
<br /> - . or materials to maintain or improvc thc Property.
<br /> ,� 9. DUE ON SALE OR ENCUMBRANCE.Lcnder rnay,at its option,declarr the entire balance of the Secured Debt to
<br /> , be immediately due xnd payable upon the creation o(,orcontract for the creation of,any lien,encumbranee,transfer
<br /> ` or sale of the Property.This right is subjcct to the res�rictions imposed by federal law(12 C.F.R.591),As applicable.
<br />;`, This covenanl sha11 run with the Property nnd sh�llrernain in effcct until thc Secured Debt is paid in full and this
<br />� • Security Instrument is relcased. a.
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<br />�- .. � 10. PROPERTY CONDITION,ALTERATIONS AN[71NSPECTION. Grantor will kcep thc Property in good
<br /> ��,`' '� cundition and make all repairs that are reasonably necessary. Grantor shall not commit or aqow any waste,
<br /> �� � impairment,or detcrioration of thc Property. Granior will kecp thc Property frec of noxious�viceds and gra�ses.
<br /> � ,, Grantor agrccs thnt thc naturc of thc occupancy andusc will not substantinlly changc without Lendcr's prior written
<br />_j�;,�.;,:p":'; consent.Grantor will not permit any change in anylicc:nsc, restrictive cnvenant or easement without L�;nder's prior
<br />���»,��'�$�.._ c written cansent.Grantor will notify Lender of all demands,proceedings,claims,and actions against Grantor,and of �
<br /> - �>�'"':�'"�' any loss or dumage to the Property. _
<br /> -=`�':'�'�'� Lender or Lender's agents may, at Lcnder's option,e nter the Property at any rcasonable time for the purpose of --
<br />�s`�;:,::'K_`"�L'� inspecting the Property. Lender shall givc Grantor notice at the time of or before an inspection specifying a
<br /> ' __, °' �; reasonable purpose for the inspection. Any inspeclion of the 1'roperty shaU be entircly for Lender's benefit and
<br />-�:_�I�;-.. Grantor will in no way rcly on L.cndcr's inspcction. � ,_-__._
<br />��`". .;. , I1. AUTHORITY Ta PEYtFORM. It Grantor fails to perform any duty or any of thc covenants c;ontained in this = —
<br />°'_ '._�._r Security Instrument,Lender may,without notice, pedorm or cause them to be performed. Grantor appoints Lender
<br /> -� ,; �,_:,: as attorney in fact to sign Grantor's name or pay anyarnount necessary for performance.Lender's right to perform for --
<br /> '�"°'��'`;�?=��� Grantor shall not creatc an obligation to perform,and Lendcr's failure to perfarm will not preclude L,ender from =
<br />^=--}':,.;.: "" exercising any of Lc:nder's other rights under thc lawor ihis Security Instrumcnt.If any construction on the Property is =---
<br /> �� '� � ` discontinued or not carricd on in a rcasonablc manner,Lendcr may takc all steps nccessary ro protect t.cnder's = -
<br />.'rr+!.. r .�s..
<br /> „ . . s�curity intcr�st in thc Property,including completianof thc construction. �s_ _
<br /> � 12. ASSIGNMENT OF LEASCS AND RENTS.Grantor i ttcvocably grants,convcys and sclls to 1'rustcc,in trust for thc -
<br />' �-`_-=�—-
<br />- henefit of Lendcr,as additional security all thc ri�h�.titic and interest in and to any and all cxisting or futurc Icases, E__-----_
<br />-- ' '� sublexses, and any othcr written or vcrbal agrccrncnts for thc usc and occupancy of�ny portion of thc Property, '�di.`'==
<br /> � including any extensions,renewals,modification���ruit-sstitutions of such agrecments(all referred to as°Lcases•')and .ir,,ti�,�_=_
<br /> • :� rcnts, issucs and pro�ts (all rcfcrrcd to as"Rcnts"►. Grantor will promptly providc Lcndcr with truc and corrcct �:.;���^-
<br /> ' copics of all cxisting and futurc Lcascs.Grantor maycollcct,rcccivc,cnjoy and usc thc Rents so long as Grantor is not •=i�'�'�
<br /> in dcfault undcr thc tcrms of this Security Instrum�.n�. �.��;''+''. :
<br /> - Grantor ackuowledgcs that this assignmcnt is pert�cdcd upon thc rccording af this Dced af Trust and that L.�:ndcr is =
<br /> ' entitled to notify any of Grantor's tenants to makepayment c�f Rents due or to becc�me due to Lender. However,
<br /> _ .; Lcndcr agrccs that only on default�vill L.endcr not ifJ•G rantor and Grantor's tenants and make demand that all future . . .
<br /> Rents be paid directly to Lender. On recciving noiice of default, Grantor wili endorse and defiver to Lcnder any
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<br /> ____.._._._ _.__.-. _. . .
<br /> paymcnt ot Kcnts m c,rantor�s possession anu wu.n,e:��c any nen�,�n ��u,� ��� ..������ ���.� W�����.,��.����������b������ - _� =- -
<br /> Rents with any uther funds. Any amounts collectednill be applied as pruvidcd in Ihis Scrurity lnstrumcnt. Grantor .
<br /> ' warrants that no dcfault exists undcr thc Lcascs or any applic:ablc landlorci/tcn�nt luw.C;rantor alsu ugrres ta m�intain ,
<br /> _� � .►nd require any tenant tc�comply with thc terms uf tlx Leases;�nd applic:�blc law. .
<br /> -- 13. LEASEHOL�S;CONDOMINIUMS; PLANNEDUtVIT DEVELOPMENI'S. Grantor a�rccs to comply�vith thc
<br /> provisiuns af any lcasc if this Sccurity Instrument ison a Icaschold. [f thc Pmperty inrludcs a unit in a cc�ndominium
<br /> -• , or u planncd unit dc��clapntent. Granlor will pcdnrm t►11 of Cir.�ntur's dutics undcr lhc r�ivcnants, by•laws, c�r , �
<br /> ' rcgulations of thc cunduminium c�r planncJ unit d��ckipmcnt. � ;
<br />- 14. UEFAULT.(ir.+ntur will hc in dcfault if any pnrty�d�ligc+tcd��n thr Sccurrd 1)rht fails to makc p�iymcnt whcn duc. •
<br /> ��• ('ir<intc�r tivill hc in drf.�ult if a hrcacli orcurs uncicrthc tcrms cif this Scrurit�� Instrumcnt or any uthrr dor.umcnt
<br /> (POge 2 ot 4) .
<br /> - p 1994 BankOrs SyslOms.Inc.51 CIOUO.MN(t-gp"•397•4�41)FortnflE•DT�NE 6/B9�
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