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<br />B. Al] future advances from Beneficiary to Trustor or other future obligations of Trustor to Bcneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor c�1' 13e,nel'iciary executcd
<br />after this Security Instrument whether or not this Security Instrument is specifically rePerenccd. Il' more than onc
<br />person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future �i�vanccs
<br />and future obligations [hat are given to or incurred by any one or more Trustor, or any one or mnre Trustor and
<br />others. All future advances and other future obligations are sec;ured by this Security ]nstru,nen� cvcn though �ill c�r
<br />part may not yet be advanced. All future advances and other future obligatians are s�curcd as il' mxde on thc datc uf
<br />th►s Security Instrument. Nothing in this Security Instrument shall constitute a u�mmitmen� to m�ke addilional or
<br />future loans or advances in any amount. Any such commitment must be agreed to in a separate wriling.
<br />C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not proh�bited hy law, including, hut
<br />not limited to, liabilities for overdrafts relating to any deposit account agreement betwcen Trustor and I3eneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for msuring, preserving or otherwise protccting
<br />the Property and its value and any other sums advanced and expenses incurred by Tieneficiary under thc terms of this
<br />Security Instrument.
<br />This Security Instrument will not secure any other debt if Beneficiary fails to give any required notice of� thc ri�ht of
<br />rescission.
<br />5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due �nd in accordanc;e with lhe;
<br />cerms of the Secured Dabt and this Security Instrument.
<br />6. WARItANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estatc conveyed by this
<br />Security Instrument and has the right to irrevocably grant, convey, and sell the Property ta Trustee, in trust, with power c�f
<br />sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY �NTERE5TS. With regard to any other mortgage, deed of trust, security �grecment
<br />document that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Beneficiazy any notices that Trustor receives from the holder.
<br />C. Not to allow any modi�cation ot extension of, nor to request any future advances under any nate
<br />secured by the lien document without Beneficiary's prior written consent.
<br />or olhcr licn
<br />or agreement
<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, le�se �aymcnts, ground rents,
<br />utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provi�le to t3enefici�ry
<br />copies of all notices that such amounts are due and the receipts evidencing Trustor`s paymen�. Trustor wiU dcfend title to
<br />the Property against any claims that would impair the lien of this Security Instrument. Trustc�r agrecs to assibn to
<br />13ene1'iciary, as rec�uested by Beneficiary, any rights, claims or defenses Trustor may have againsl parties who supply labor
<br />or materials to maintain or improve the Property.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance oi' [he Secured De;h� to
<br />be immediately due and �ayable upon the creation of, or contract for the creation of, any lien, encumbrance, transl'er or stile
<br />of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applic;ahle. "I'his
<br />c;ovenant shall run with the Property and shall remain in ef£ect until the Secured llebt i� raid in f'ull and this Security
<br />Inslrument is released.
<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Nroperty in goocl condi�ion and
<br />make all repairs that are reasonably necessary. Trustor shall not commit or allow any wlsle, impairmcnt, or delc;rioration of
<br />the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees chat the na(ure: c>f lhc
<br />occupancy and use wiil not substantially change without Beneficiary's �riar written amsenL Truslor will not permi� any
<br />change in any license, restrictive covenant or easement without Beneficiary's prior written consent. 7'rustor will notify
<br />Benef�c�ary of all demands, proceedings, claims, and actions against Trustor, and of any Ioss c>r damage to the Prc�perty.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable timc [or the purposc
<br />of inspecting the Property. Beneficiazy shall giva Trustor notcce at the time of or before an inspection spec�lying �
<br />reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Benel'iciary's benePic and Trustor
<br />will in no way rely on Beneficiary's inspection.
<br />11
<br />12.
<br />13.
<br />AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security
<br />Instrument, Beneficiary may, without notice, perform or cause them to bc performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amount necessary for performance. BeneFiciary's right to perform for
<br />Trustor shall not create an obligation to perform, and Beneficiary's failure to perform will not nreclude 13cncFiciary from
<br />exercising any of Beneficiary's other rights under the law or this Security Instrument. If any u�ns[ruction on the Prorerty is
<br />diswntinued or not carried on in a reasonable manner, Beneficiary may take all sleps necessary lc� rn�tect 13encfici�iry's
<br />security interest in the Property, including completion of the construction.
<br />ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably grants, c;onveys and sclls to Trustcc, in trust for lhc
<br />benefit of Beneficiary, as additional security all the right, title and interest in and to any �nd a11 cxisting cir f'uturc Icascs,
<br />subleases, and any other written or verbal agreements for the use and occupancy of any portion c�f the Pro�crly, including
<br />any extensions, renewals, modifications or subslilutions of such agreements (all rel'erred to ��s "Le�ises") and rents, issues
<br />and profits (all referred to as "Rents"). Trustor will promptly provide Beneficiary with true and correct u�pics ol' all
<br />existing and future Leases. Trustor may collect, receive, enjoy and use the Rents so long as Trus(or is not in clefaul� under
<br />the terms of this Security Instrument.
<br />Trustor acknowledges that this assignment is perfected upon the recording af this Deed of Trust and that Benel'ici�ry is
<br />entiUed to notify any of Trustor's tenants to make payment of Rents due or to become due l0 13e:neficixry. Howevcr,
<br />BcncFiciary agrees thac only on default will Beneficiary notify Trustor and Trustor's tenants �nd make demand lhal all
<br />fucure Rents he paid directly to Beneficiary. On receiving notice of default, Trustor will endorse and deliver to Bene�ciary
<br />any payment of Rents in Trustor's possession and will receive any Rents in trust for &;neficiary �nd wi[l nc�l ecnnmingle lhe
<br />Rents with any other funds. Any amounts collected will be applied as provided in this Seeurily Instrumc;nt. Trustor w�irrants
<br />that no default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees tc� maint�in and requirc
<br />any cenant to comply with the terms of the Leases and applicable law.
<br />LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to u�mply with the
<br />provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condenninium or a
<br />planned unit development, Trustor will perform a11 of Trustor's duties under the covenants, by-laws, or rcgula�ions of �he
<br />condominium or planned unit development.
<br />��"' c� 7994 Bankers Systems, Inc., St. Cloud, MN Form RE•OT-NE 1 �30/2002
<br />(�-C165(NE) �oao��
<br />�
<br />S165EN NE (01/10)
<br />(page of 4)
<br />Loan Number xxx-xx- �018
<br />
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