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<br /> . . � g, pl;fucuie advances fmm Benefciary to Trustor or otHer future obligations of Tnutor to Reneficiary under anY .
<br />: , •• pr�mi.�sory note�oontra�,gua:anty.or other evid�ce of deht existing now ar executed after this Deed of Trust • ..
<br /> whether or aot this Dexd of Tivst is specifically referred to in the cwidence of de6t. '• ;�
<br /> �. � C. All obligations Tnutor owes to Henefciary.which noa+ra�is�or maY �ater arise. to the extent nnt prohibited by �� ?
<br /> � � law, including, but not timited to, liabilities for overdrafts mlating to any deposit acrnunt agreement between
<br /> , Tcuswr and Beaefcciary. - •
<br /> . D. Att additional sunos advanced aad eaPenses iacurred by Bweficiary for insuring,Preservin6 or otherwise protccting . , r .
<br /> ` the Property and its value and any other sums advanoed aad expenses incurred by Beneficiary under the[erms of ,
<br /> . • -- this Deed of Tn�st. Plus interest at the hiShesc rate in effect. from time to time. as provided ia the Evidence of .�'--_. - ---
<br /> -�� Debt. - _
<br /> .. . E. Tnutor's performance onder the terms of any insuument evidencing a debt by Trustor to Beneficiary and any Deed
<br /> _ ' ' of Trusc securing,8naiaatying,or othenvise relating w the debt. �. ` -.
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<br /> If more than oae pecson signs this Dced of Tcust as Tnutor, each TnLStor agrees that this Deed of Tmst arill secure all
<br /> � � �, fatnre advaaces and fut�e obligations descn�ed a6�ve tLat are given to or inc�uied by aay one or more Tnistor,or any .
<br /> � � other debt if Beneficiary fails,with respect w suc�
<br /> one or more Tmstor and others.7his Deed of Trnst will not secace auy notice of � �
<br /> ` ' other debt,to make any r�quired disclosuie about this Deed of Tcnst or if Beneficiary fa�s w give any required , �,.
<br /> = t6e right of rescission. '' i. ' ,
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<br /> � S. PAYMEIVIS.Tn�stor agrees to maYe all pa3'���on the Secaued Debt when due and in accardance with the terms of the -:,�-.
<br /> ' Evidence of Deht or this Deed of Tmst. • '�-'�
<br /> ' 6. WARRANTY OF TITLE.Tn�stor covenants that TcusWr is lawfully seized of the estate conveyed by this Deed of Tmst . ;,�:: :-• - -
<br /> , � and has the right to irrevocably graut,canvey aad sell to Trustee. in aust,with power of sate,the Property and warrants . ,�°: ��;: =_,
<br /> �� . thaz the Property is unencumbered,exceQt for encumbrances of record. .',',���`:
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<br /> , � . � -- . 7. CLAIIVi3 AGAINS°r'i7TLE.Tnutor will pay all taxes.assessments,liens,encumbrances,Iease payments.grouad rents, - .�
<br /> �4 . utilities,and other charges mlating to the Property wheu due. Beneficiary may require Tn�stor to provide to Benef ciary , :�":.
<br /> " ,�. ;a copies of all natices that sash amnun�s are due and the receipts evidencing Tnutor's paymeut.Tn�stor will defend ti8e to , • �._-
<br /> � • ._ the PropertY against anl+claims that would impair the lien of this Dced of Tmst.Tn�stor agrees to assign to Beneficiary,as ;,,,,..;.�.^:�'.:
<br /> . requested by Beneficiary. anY riP,t►u• claims or defenses which Tr+�swr may have agaiust parties who supplY labor or ;.� �•.;>�
<br /> � • '. ' materials to irupmve or maintain the Pcoperry. ,� "
<br /> . � t or other lien • .�'` ��°r�'
<br /> ;' . ' 8. PRIOIt SECURiTH II�'I'ERE.STS. With regard to any other mortgage.deed of m�st, secur'st�+a�emen � .�t�i; :-�:'�.
<br /> �:, document tbat created a prior secarity interest or encumb�ance on the Property and that may have priority over this Deed ;.';,:.s.;s�:
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<br /> � of Tmst,TnLCWr agrees: • . ,;-+�`-
<br /> • A. 'i'o make all payments when due and to perform or wmply with all covenants. . � �, �- -
<br /> � B. To pmmptly deliver to Beneficiary any aotices that Truseor receives fiom the holder. ..'_�•'.
<br /> �`� ' C. Not to make or permic any modificaaon or extension of,and not to request or accept any future advances uader anY ' a:
<br /> � ' note or ageement secured by,the other mortgage,deed of aust or serattity agreEmenc unless$eneficiazy�°ns�°�s '��.:'�� `";�L;�'
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<br /> "" � 9. DUE ON SALE OR ENCiJN�RAPiCE.Beneficiary may.at iu option,declare the entire balance of the Secured De6t to '_�•;��
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<br /> be umnediately due and payabte upon the creation of any lien,encumbrance.uansfer,or sale.or contract for any of Wese � ^ 4__
<br /> . ' on the Ptoperty. However, if the Properry includes Trustor's tesidence, t his section s h a l l be su bj e c t t o t h e m s t r i c t i o n s • '•..�`
<br /> ;� � . imposed by federal law(12 C.F.R.591),as applicable.For the purposes of ttus section,the term"Property"also includes _ -
<br /> � any iaterest to all or any part of the Property.This covenant shaii run with the Property and shaU remain in effect until the ;'-
<br /> , . .. . � Secured Debt is paid ia full and this Deed of Tnist is reteased. • . . -_ "°
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<br />- � - 10.TRANSF�R OF AN INTERES"P 11�i THE GRANTOR. If Tniswr is an entity oiher than a nawral person(such as a • ���
<br /> • " ' corporat�on or other organi7ation). Beneficlary may decnand immediate payment if(1)a beneficial interest in Trustor is � ' .
<br /> �� ' '" ��' sald or transfeaed;(2)t�ere is a change in either the identity or number of inembers of a paranership;or(3)there is a : �
<br /> ohange in ownership of more than 25 percent of the voting stock of a coiporatioa. However,Beneficiary may not demand . . . •
<br /> payment in the above situations if it is prolubited by law as of the date of this Deed of Trust. ,
<br /> il.ENTITY WARRANTIES AND REPRESENTATIONS. lf Tn�stor is an entity other Wan a natural person(such as a � .� '
<br /> ` corporadon or other organization).Trustor makes to Beneficiary the following warranties and representatlons wluch shall
<br /> � be continuing as tong as the Secured Debt rernains outstanding: •
<br /> � � .- A. Trnstor is an endty which is duly organized and validly existing in the Trustor s state of incorporation (or . •
<br /> � organization).Trustor is in good standing in all states in wlvch Trustor transacts business. Trustor h3s the power
<br /> ��. � • and authorlty to own the Property and to carry on ita business as irow being conducted and, as applicable, is ;
<br /> � ' qualified to do so in each state in wtuch Trustor operates.
<br /> . • �. B. 'I�e execution, delivery and perfom�ance of this Deed of Tmst by Trustor and the obllgation evidenced by the • . . .
<br />' Evidence af Debt aze within the pawer of Ttustor. have been duly authorized, have received all necessary . .
<br /> • . . govemmental approval.and will not violate any provision of law.or order of wurt or govemmental agency.
<br /> - ' C. Qther than disclosed in writing Trustor has not changed its name within the last ten years and bas not used any
<br /> . . k other trade or fiaitious name.Without Beneficiary's prior written wnsent,Tn�stor does not and will not use any �
<br /> , othcr name and wi11 preserve its existing name,irade names and franchises until the Secured Debt is sati�ed.
<br /> � } 12.PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Tcustor will keep the Property in�ood condition • � •
<br /> � and make ali mpairs that are reasonably necessary.Trustor will give Beneficiary prompt notice of any loss ar damage to � ..
<br /> � ; the Property.Trustor will keep the Properiy ftee of noaious weeds and grasses.Trustor wiU not i�idate.�oin 4ri or consent • _
<br /> � , I to any change in any private restrictive covenant, zoning ordinance or other public or private res�nction limiting or I
<br /> � defining the uses which may be made of the Property or any part of the Ptoperty, without Beneficiary's prior written
<br /> � consent. 'I'rustor will notify Beneficiary of all demands, proceedings, claims, and actions against Trustor or any other � ,
<br /> � � owner made under law or regulation regazding use,ownership and occupancy of the Property.Trustor will wmply with a11 �. . •
<br /> legal mquirements and restrictions,whether public or private,with respect to the use of the Property. Trustor also agrees .
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<br /> � that the nature of the occupancy and use will not change�vithout Beneficiary's prior written consent.
<br /> • No portion of the Property will be removed, demolished or materially altered without Beneficiary's prior wrinen consent • � �
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<br /> �.'- � _. _ . � except that Trustor has the riFht to remnve itrms of personal property comprising a part af the Propeny that berome worn . ,
<br /> ' � _ � Anyc?ol 6 . .
<br />- . � � n i 993 Bantms Systems.��c.St Grn,a MN 1+600 39�7361� i n•m AG CO DT NE �0�30�97
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