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<br /> . B. All futurc ndvances irom la:ndcr tu Grantor or othcr fuwre ohligations ut Gruntor w la:ndcr undcr�iny prumissory
<br /> • notc, cuntract,guaranty,or othcr cvidcncc of debt executcd hy Gr�intor in f�vor of lAndcr cxccutcd aRcr this
<br /> ' ' Sccurity Instrument whcthcr or not thi5 Security Instrumcnt ir spuiCcuAy refcrcncrd. If m��rc thi►n onc person
<br /> , signs this Sccurity Instrument,cach Grantor agrccs tt►ut this Sccurity Inscrumcnt wiU sccurc all futurc advunccs and
<br /> futurc obligations that arc given to or incurrc�i by any anc or morc Ura�nor,or uny onc nr more Grantor a►td
<br /> c�thcrs.All futurc advancs:s and othcr future nhligati��m.+m�rcured by thisSccurity Instrumcnt cvcn thouFh all or
<br /> �_.�� part may not yet 6e advanced.All fuwre advances and other futurc obligatiuns nre sccured as if m��de on the dntc
<br /> . of this Security Instrument.Nothing in this Securiry Instrument shall constitutc�i commitment t��m�►ke udditionul
<br /> :;,;'�'} or future loans or advances in uny amount.Any such commitment must be agrecd to in a separatc writing. -
<br /> �.,-•. •�a C. AU obligations Grantor owes to I..cndcr,which may Iatcr arisc,to thc cxtcnt not prohibited by lnw,including,but
<br /> � not limitcd to,liabilities for overdrafts relating to any deposit aceount agrcemcnt betwccn Grantor and L.endcr.
<br /> i D. All additional sums advanced and ex enses incurred b Lender for insurin reservin ar otherwise rotectin ��
<br /> P Y S•p F P S �:
<br /> • the Property and iGs value and any other sums advanced and expenses incurred by Lendcr under thc tcrms of
<br /> � �� this Sccurity Instrument. __
<br /> '• This Security Instrument will not securc any other debt if Le:nder fails to givc any required noticc of the right of rescission.
<br /> 4' S. PAYMEN'I'S. Grantor agrees that all payments under the Secured Debt will be paid when due and in accordance
<br /> with the terms of the Securcd Uebt and this Security Instrument.
<br /> 6. WARRANTY OF TTfLE.Grantor wanants that Grantor is or will be lawfully seized of tl�e estate conveyed by this
<br /> ` Security Instntment and has the right to irrevoc�bly grant,convey,and sell thc Property to Trustee, in trust,�vith _
<br /> _ power of sale.Grantor also warrauGs that the Property is unencumbered,except For encumbrances of record. _
<br /> � � 7. PRIOR SECURITY INTEREST'S.With regard to any other mortgagc,deed ot trust,sccurity agreemcnt or other lien _
<br /> document thut created a prior security interest or encumbrance on the Property,Gr�ntor agrees: �
<br /> ' �' x A. To make all payments when duc and to perfarm or wmply with all covenants. _
<br /> B. To promptly dcliver to Lender any notices that Grantor rcceives from the holder. --
<br /> . C. Not to allow any modification or extension of.nor to request uny futurc advances under any note or agreement
<br /> �' ,� secured by the lien document without Lender's prior written consent.
<br /> - 8. CLAAM5 AGAINST TTTI.E. Grantor will pay all taxes, assessments, liens, cncumbrances, lease payments,ground
<br /> '',,;;'^' ` ' : rents,utilities,and othcr charges relating to the Property whcn duc.Lender may require Grantor to pruvide to Lender
<br /> • copies of All notices that such amounts are due and the receipts evidencing Grantor's payment.Grantor will defcnd
<br /> �� title to the Property against any claims that would impair thc lien of this Security Instrument.Grantor agrees to assign
<br /> --�'�'`.t�'�'" � to Lender,as requested by Lendcr,any rights,claims or detenses c:irantor may nave agains�pariies wiw suNNfy ia�or
<br /> •„:;;;,,...4.; �; or materials to maintain or improvc thc Property.
<br /> � "�<f, -- 9. DUE ON SALE OR ENCUMBRANCG.L.ender may,at its option,declarc thc entire balance of thc Secured Dcbt to
<br /> � -' ' �".• ' be immediatel due and a able u on the creation of,or contract for the creation af,any lian,encumbrance,transfer
<br /> `^<z'?��'�' or sale of the Properry.This right P subject to thc restrictions imposcd by federal law(12 C.F.R.S91),as applicable.
<br /> ���:-� This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this
<br /> -%��':��. Security Instrument isreleased.
<br />�_;:�i�_� 10. PROPERTY CONDITION,AI.T�RATIONS AND INSPECTION.GrAntor will kecp the Property in good
<br /> ____-_.y,Li� condition and make all repairs that are reasonably necessary. Grantor shall not commit or allow any waste,
<br /> a�=:;.� impairment,ar deterioration of the Property. Grantor will kccp the Property frcc of noxious wccds and grasses.
<br /> -�:�n�� Grantor agrecs that the nature of the occupancy and use will not substantially changc without Lender's prior written
<br /> - = °-- wnsent.Grantor will not perniit any change in any license,restrictive wvenant or easement without L.ender's prior
<br /> -- - written consent,Grantor will notify Lender of all demands,proceedings,claims, and actions against Grantor,and of
<br /> ?,y„r;��� any(oss or damage to the Property.
<br /> .. — Lender or Lender's agents may,at Lender's option,entcr thc Property at any reasonable timc for thc purpose of
<br /> inspecting the Property. Lender shall give: Grantor notice at thc timc of or before an inspection specifying a
<br /> - -_- reasonable purpose for the inspection. Any inspection of the Property shall be entirely for L.ender's benefit and
<br /> �.±� Grantor will in no way rcly on Lendcr's inspection.
<br /> ��'°�'� 11. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of thc coveaants contained in this
<br /> _ _ Security Instrument,Lender may,without notice,perform or causc them to be performed.Grantor appoints Lcnder
<br /> ---- as attorney in fact to sign Grantor's name or pay any amount nccessary for performancc.L.endcr's right to perform for
<br /> -_,�,a� Grantor shall not creatc an obligation to perform. and Lender's failure to perform will not preclude Lendcr from
<br /> __ �__= exercising any of Lcnder's othcr rights under the law or this Security Instrumcnt.If any construction on thc Property is
<br /> - - discontinued or not carried on in a reasonable manner,Lender may take all steps necessary to protect Lender's
<br />""`"�°"'"°� security interest in the Property,including comoletion of thc construction. �
<br /> -�'�`'�`��;=� 12. ASSIGNMENT OF LEASfiS AND RENTS.Grantor irrevocably grants,conveys and sells to Trustce,in trust for thc
<br /> - bene�t of Lender. as additional sccurity all thc right,titic and intcrest in and to any and all existing or futurc Icascs,
<br /> r°;;,`,��,,'��:� subleases, and any other writtr,n or verbal agreements for the use and occupancy of any portion of the Property, ---
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<br /> . including any cxtensions,rcnewals,modifications or substitutions of such agrcements(all rcfened to as"Lcases")and _
<br />- - ' rents, issues and profits (all referred to as"Rents"). Grantor will promptly provide L,ender with true and correct _-
<br />_- � j copies of all existing and future L:ases.Grantor may collect,reccive,enjoy anJ use the Rents so long as Grantor is nnt =
<br />_ ,' "" � in default undcr the tcrms of this Security Instrumcnt. _-..
<br /> ' ' Grantor ackno�vledges that this assignment is perFected upon the recording o[this Deed of Trust and that L.ender is ___
<br /> .' 1 � entitled to notity any of Grantor's tenants to make payment of Rents due ur to become due to Lender. Howcver, r
<br /> - .,±;�"�� Lender agrees tl�at only on default�vill L.endcr notify Grantor and Grantor's tcnants and make demand that all future �
<br /> - Rents bc paid directly to Lender. On receiving notice of default,Grant.�r will endorsc and delivcr to Lcnder any �
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<br /> ,�� :; payment of Rents in Grantor's possession and witl receive any Feents in crus�ior i,e:ndcr anu wiii uui u�u�������b�� .���
<br /> � • • . Rcnts with any othcr funds. Any amounts collccted will be applied as providcd in this Security Instrument. Grantor
<br /> warrants that no default exists und�r the[.�:ases or any applica�lc landlord/tenant law.Grantor also agrecs to maintain •
<br /> - • and requirc any tcnant to comply with the tcrms of thc Lcases and applic��blc law. �.
<br /> ' 13. LEASEHOLDS; CONDOMINIUMS;PLANNEU UNIT DCVEI.APMC1YfS.Grantor agrccs to comply with thc "
<br /> , provisions of any Icasc if this Sccurity Instrumcnt is on ii Ic.ischold.i€thc Property includes a unit in a condc�minium
<br /> or a planncd unit dcvclopment, Grantor will perk�rm all of Grantor's dutics undcr thc coven.{nts, by-laws, or
<br />- rcgulations of thc condominium or planncd unit devclopmcnt.
<br /> 14. UCCAULT.(iranior�vill b�in dcfault if:�ny party obligated on thc Sccured Dcht f:iils to makc paymcnt whcn due. _
<br /> Granror will be in default if�� brcach uccurs uncler the tcnns uf tl�is Sccuriry Instrument or any e�ther document
<br /> - , (pago 2 of 4)
<br /> m�09d Ban�on Sys�amf.lnc.51 Gloutl.MN�1•800-397•YS011 Fomi RE�DT•NE&Lt�A1
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