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<br /> B. All tuture ncivnnees from Iieneticiury to'frustor or otl�er tuture obligations nf Trustoe to I3eneficiary under any = °
<br /> proutissu�y notc,contract,guaranty,or othcr evidencc of dcbt executed by Trustor in tavor of Beneftciary executed =
<br /> ntter this Security lnstrument whether or not this Security lnstrument is specifically referenced. If more thun ane
<br /> person signs�his Security Instrument,each Trustor agr�:es that this Security Instrumcnt will secure All futurc �'
<br /> advanccs aad future obligations that ure givcn to or incutted by any onc ur morc Trustor,or any one or more _
<br /> Tntstor and others.All tuture advances and other future obligations are secured by this Security Instrument even
<br /> thuugh all ur part n�ay not yct he advanced.All future ��dv�nces f�nd ather future ohligntions are secured as if made
<br /> on the dnte af this Secutity lnstrument.Nothin�in this Security]nstrument shall constitute a a�mmitment to make •
<br /> additional or tuture loans or udvanc�;s in any amount.Any such commitment must be agrecd to in a separate writing.
<br /> . C. All obligations Trustor owcs to Bcncficiary,which may later arisc,to thc cxtcnt not prahibitcd by law,including,hut •
<br /> not limited to,liabilitics for overdrafts relating to any deposit account agreement hetwcen Trustor and Beneficiary.
<br /> D. AU additic�nal sums adv�need und expenses incurred by B�ncficiary for insuring. preserving nr otherwisc ,J"
<br /> protccting thc Pruperty and its valuc and uny othcr�ums advanccd and rxpenscx incurrcd hy Bcncficiary undcr : , . ',y_
<br /> the terms af this Security Instrument. ''��,k�:: -
<br /> This Security Instrument will not secure any other debt if Beneficiury fails to give any required notice of the right of : <�.�r;�1.�;�,�: �-
<br /> :��ar.:t
<br /> rescission. �''';`�-��"
<br /> 5, PAYMEIVTS.Trustor agrces that all payments under tlie Secured Debt will be paid when due and in accordance with •� _=
<br /> the terms of the Secured Debt and this Security Instrument. `,`�`"�"�-
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<br /> 6. WARRANTY OF TITLC.Trustor warrants that Trustor is or will be lawfully seir.ed of the estate conveyed by this •. -
<br /> Security Instrument and has the right ta irrevocably grant,canvey,and seq the Property to Trustee, in trust,with °
<br /> power of sale.Trustor also warrants that the Property is unencumbered,cxcept for cacumbrances of record. • `_ ---- -
<br /> 7. PRIOR SECURITY INTERESTS.With regard to any other mortgage,deed of trust,security agreement or other lien �_�Y�.�.��
<br /> • document that created a prior security interest or encumbrance on the Property,Trustor agrees: ����•
<br /> A. To make all payments when duc and to perform or comply with all covenants. . �g"°�'"'-
<br /> �` B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder. ``"' � � _.
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<br /> C. Not to allow any modification or extensian of,nor to request any future advances under any note or agreement ,� �`'' ��',—
<br /> secured by the lien document without Beneficiary's prior written consent. '"r-,�-^'"'�'
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<br /> 8. CLAIMS AGAINST TITLE.Trustor wiA pay all taxes, assessments,liens, encumbrances,lease payments, ground � � �t � .
<br /> : j rents,utilities,and other charges reluting to the Property when due.Beneficiary may rcquirc Trustor to provide to ', ,
<br /> ' Bene�iciary copies of all notices that such amounts are due and the receipts evidencing Trustor's payment.Trustor will ;
<br /> '�� defend title to t he Property agains t any c laims t ha t wo u l d i m p a i r t h e li e n o f this Secunt y Instrument.Trustor a grees to �- +t'•f�
<br /> '� ' assign to Beneficiary,as requested by Bene�iciary,any nghts,claims or defenses Trustor may have against parties who �, f�
<br /> - -� supply labor or materiAls to maintam or improve the Prop�riy. ,�.' �-=
<br /> '� 9. D U E O N S A L E O R E N C U M B R A N C E. B e neficia ry ma y,at its o ption,declare the entire balance of the Secured __
<br /> � ' ' ' Debt to be unmediately due and payable upon the creation of,or contract for the creation of,any lien,encum brance, Y � �-
<br /> ��; ttansfer or sale of the Property.This right �s subject to the restrictians imposed by federal law(12 C.F.R. 591),as _
<br /> applicable.This covenant shaU run with the Property and shall remain in effect until the Secured Debt is paid in full �:`
<br /> and this Security Instrument is released. t��
<br /> 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION.Trustor will keep the Property in good �
<br /> condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste,
<br /> impairment, or deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. ,._
<br />"` • Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's prior _
<br /> . writtea consent. Trustor will not permit any change in any license, restrictive covenant or easement without �
<br /> Beneficiary's prior written consent.Ttustor wiU notify Beneficiary of all demands,proceedings,claims,and actions ��,ry�-
<br /> • . . � against Trustor,and of any loss or damage to the Property. "•�
<br /> . . , ! .� ` Beneficiary or BeneGciary's agents may,at Beneficiary's option, enter the Property at any reasonable time for the _
<br /> r_, purpose of inspecting the Property. Beneficiary shaA give Trustor notice at the tin�e of or before an inspection
<br />- specif ing a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's
<br /> ' bene�t and Trustor wiU in no way rely on Bene�iciary's inspection. •
<br /> 11. AiJTHORITY TO PERFORM.If Trust4r fails to perforrn any duty or any of the covenants contained in this Security -
<br /> �• ' - Instrument,Beneficiary may,without notice,perform or cause them to be performed.Trustor appoints Beneficiary as �"°°'"°�^'°~���°3- �-
<br /> - � � attorney in fact to sign Trustor's name or pay any amount necessary for performance.Bene6ciary's right to perform
<br />_°. •_�i,__ ~. . for Tntstor shall not create an obligation to perform,and Beneficiary's failure to perform will not preclude BeneSciary -
<br />-.�::�••� • from exercising any of Beneficiary's other nghts under the law ur this Security Instrument.If any construction on the
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<br />=,�;.: Propert�is discontinued or not carned on in a reasonable manner,Bene�ciary may takc all steps necessary to protect �� �
<br />_ ' �'' BeneSciary's security interest in the Property,includingcompletion of the construction. _____ __
<br />- '*° 12. ASSIGNMENT OF LEASES AND RENT'S.Trustor ircevocably grants,conveys and sells to Trustee,in trust for the =_ --_
<br /> benefit of Beneficiary, as additional security all the ripht,title and interest in and to any and all existing or future Fn=--==_ --__-
<br /> leases, subleases,and any other written or verbal agreements for the use and occupancy of any portion of the ;_� v .,�-
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<br />- Property,including any extensions, renewals; modifications or substitutions of such a reemetits all referred to as _ _.;.,
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<br /> "Leases")and rents,issues and profits(all referred to as"Rents").Trustor will promptly provide Bene�ciary with true '� �-�;'i�:?.?,��.�;;
<br />= and correct copies of all existing and future Leases.Trustor may collect,teceive,enjoy and use the Rents so long as . ,.. ..
<br />' Trustor is not in default under the terms of this Security Instrument. .
<br /> - Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Tnist and that Bcneficiary is � .. .
<br /> entitled to notify any of Trustor's tenants to make payment of Rents due or to become due to Beneficiary. However, .
<br />' Beneficiary ap,rees that only on default will Benefic�ury notify Trustor and Trustor's tenants and make demand that all , ��
<br /> future Rents be paid directly to Beneficiary. On receiving notice of default, Trustor will endorse and deliver to
<br /> � Beneficiary any payment of Rents in Trustor's possession and will receive any Rents in trust for Bene�ciary and wiU .
<br /> � �• not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security .
<br />=` _ _ Inctn�ment.Trustor warrants that no default exists under the Leases or any applicable landlord/tenant law.Trustor also
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<br />` � a�;rees to maintain and require any tenant to comply with the terms of the Leases and apphcable law. -
<br /> 13. LEASCHOLDS;CONDOMINIUMS; PLANNED UN1T DEVELOPMEIVI'S.Trustor agrees to comply witli the
<br /> _ provisions of any lease if this Security Instnunent is on a leasehold.If the Property includes a unit in a condominium
<br /> , or a planned unit dcvelopment,Trustor will perform all of Trustor's duties undcr the covenants,by-laws, or
<br /> rcgulations of the condominium or planned uniE development.
<br /> ^ (An 2 of 4) �
<br /> _ O 1g918enkas SYatamn.ine.St Cuwd.MN(t�pW397-23af)Pam RE�OT•NE 9'1�198 . � � ., .
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