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<br /> �� - !�' Grantor ta provide to Lender coR�es of a!! notices that such amounts are due and the receipu ; _ _�
<br /> z° . � � � evidencing Grantv�'s paymen�Grantor will defend tltle to the Rroper�y against any daims that woutd ; . - = `
<br /> _ � im pair the lien of this 5ecurity instrument.Grantor agrees ta assign to Lender,as requested by Lender, ��_ _ :f_c .., �,
<br />���: � a n y r tg h t s� c t a i m s o r d e f e n s e s G r a n tor ma y h a v e a g a t n s t p a r t i e s w h o s u p p l y l a b o r o r materials to
<br /> } mainra in or imprave the Property. _ .,- _
<br /> �� < , ! declare the entire balance of the 5ecured _. -'.� :.
<br /> 9. DUE ON SALE OR ENCUMBRANCE.Lender may,at its option, �..,_.` .,>.
<br /> ;a�� � . � ` �� Debt to be immediately due artd pa able upon the creation of, or convact for the aeation of,any lien, .
<br /> �.: , enwmbrance�uansfer os sale of t�e Properhl. This �Ight is subJect ta th� resvictions imp�sed by , .
<br /> :�! • ` � federal law t12 GF.R.591) as appticable.This covenant shail run with the Propercy and shaQ remafin in , . :� .
<br /> � effect until the Secured De�t is pald in full and this Security instrument is released. ,:.:� �
<br /> in ood - �
<br /> 10. PROPERYY CONDfitON, ALTERA'ftO1�SS AND IMSPECTION.Grantor will keep the Property g �.. ._
<br /> r3;. ' wndition and matce alt repairs that are �easonably necessary. Grantor shall not commit or allow any .,,--.,,'
<br /> �;,. < ' � waste, impairment, or dete�toration of the Prcperty. Grantor will keep the Piroperty free of nox�ous ,, : ��<..
<br /> ti weeds and grasses. Granto�agrees that the nature of the occupancy and use will not substantialiy . �.`
<br />;;��f• � � change w[thout Lenders prlor written consen� Grantor w+ll �ot pem{tt any chang'R��r��icense , � :,.4: ._-
<br /> s� - . restrictive covenant or ease�aims;and actions aga�nst Grantor and of any oss or damage�to�the � . = p�
<br /> - all derr+ands� proceedings� , _ �`
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<br /> :7:: Property. --.� ..
<br />��� Lender or lenders agenu may, at Lender's option, enter the Property at any reasonable time for the . �i'
<br /> ��'`- � � purpose of inspecting the Froperty. Lender shatl give Grantor �otice at the time of or before an . : ,. �
<br />=�u �� insQection specifYing a reasortabte purpose for the inspection.Any inspection of the Property shall be f� . �.�.:�,�
<br />=��_` . . enurely for Lenders benefit and Grantor will in no way rely on Lende�s inspection. __
<br /> :.;��-=--
<br /> '�� 11. AUTitORITY TO PERFORM.If Grantor fails to perform any duty or any of the cavenants eontained in `.�;y�.�
<br /> .,�,._�
<br /> � this Security Instrument,Lender may,without nottce,perform or cause them to be performed.Grantar _
<br /> " � appoints Len der as attomey i n f a c t t o s i g n G r a n t ar's name or pa y anY amount necessary for -�.��,:�-a �
<br /> � perFormance. lende�'s rigbt to perform for Grantor shall not create an obltgation to perform, and �
<br /> Lenders failure to perform will nat pretlude lender from exercistng any of Lender's other rights unde� .,.._, r._�
<br /> the law or this Security Instrument. If any construction on the Property is discontinued or not carried . �};-__
<br /> , � , theiProper�ty,in�cluding comp el t/on ofatf�e constructionrtecessary to protect Lender's security interest in � ;�.;.;.,;.._
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<br /> � ' 12. ASSiGNMENY OF LEASES AND RE(3'0'S. Grantor irrev o c a b iy g�t�e and inte es t in and tto any sand all f �
<br /> ! � wst for the benefit of Lender as addiclonal securlty ali the right� �
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<br /> existing or future leases, su�teases and any other written or verbai agreemenu for the use and _ : _
<br /> occupancy of any portion of the �roperty, including any extensions, renewals, modification5 or ��.,���r�,.,.
<br /> � substitutions of such agre�menu(aU referred to as"Leases")and rents, issues and profiu(all referred . � .,,�A__-
<br /> ' � � to as °Rents°). Grantor will promptly provide Lender with true and correct copies of a11 existing and = ��'--
<br /> future Leases.Grantor may collect,receive,enJoy and use the Rents so long as Grantor is not in default �,;..:�;;��
<br /> t:t under the terms of this Seturity Instrument. .� ."��:"°
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<br /> � Grantor acknowtedges that this assignment is perfected upon the rewrding of this Qeed of Trust and . . r
<br /> � that Lender is entitled to noti f�►any of Grantor s tenants to make payment of Rents due or to become . � ;,;
<br /> - . � due to Len der. However� I.e n a e r agr e e s t h a t o n l y o n d e f a u l t w lll Lender noti f y Grantor and Graotors :��
<br /> tenants and make demand t h a t a l l f u t u re R e n t s b e p a i d d i r e c t l y to Lender. On recetving nettce of � :�,�
<br /> default, Grantor wlll endorse and deUver to Lender any paym�nt of Rents in Granior's possession and .
<br /> - wIQ receive any Rents in trust for Lender and will not commingle the Rents with any other funds.Any
<br /> � ' amounts coilected will be applled as provided in this Security Instrument. Grantor warrants that no � �
<br />-'���,: . default exists under the Leases or any appUcable landtord/tenant law.Grantor also agrees to maintain , ��
<br /> �r.� . � and require any tenant to compty with the terms of the Leases and applicabfe law. .
<br /> � 1 13. LEASEMOLDS;CONDOMINIUMS;PLANNED UNfT DEVELOPMEN7'S.Grantor agrees to campty with the
<br /> � provislons of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a �. :
<br /> � co n d o m i n i u m o r a p l a n n e d u n i t d e v e l o p m e n t,G r a n t a r w i l i p erform all of Grantor's duties under the .
<br /> ,<;:: ,' '� j covenants�by-laws,or regulations of the condominium or planned unit development. - 1 • � ..
<br /> � j 14. DEFAUL"r:Lrantor will be in default if any parry obltgated on the Secured Debt fails to make payment .
<br /> � when due.Grantor will be in default if a breach occurs under the terms of this Security Inscrument or
<br /> � any other document executed for the purpose of creating,sewring or guarantying the Secured pebt.A . . _ _
<br /> • � good faith beUef by Lender that Lender at arry t�me is insec�re with respect to any person o�entity ,
<br /> . � obUgaed shall also consN ue an event of defaujt pect of any payment or the vatue of the Property is
<br /> , , impair
<br /> j 1 S. REMEDiES ON DEFAULT. in some instances, federal and state law wiQ require Lender to provide . .
<br /> : . j Grantar with notice of the right to cure or other notices and may establish time schedules for �
<br />= � foreclose this Securitsy Instrument in almaen�rprovided�by law if Grantor is in defaultSecured Debt and
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<br /> � m 1994 Bsnken Systtms.Inc..St CIOUO.MN U 800 397 2341)form GTH MTGLAZNE 10/11/94 GT�1 S 28 090 t9/9a) qraBe 3 0(6)
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