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<br /> � B. All furure advances from Benefiaary to Tcustor or other fuwre obligations of Trustor to Beneficiary under any , , ; •�-
<br /> � ; prom�ssory note, conuast, guaranty, or other evidence of debt ezisting now or executed after this Deed of Tnut . • �•�
<br /> ` ! whether or not this Dced of Tnist is specifrcally refemed to in the evidence of debt. ' '�'
<br /> '� C. All obUgations Tnutor owes to 8enefrciary,which now exist or may later arise, to the extent not prolubited by • f`:.°
<br /> •� law, iacluding, but not limited to, liabilities fQr overdrafts relating w any deposit account agreement between -
<br /> Tn�stor and Beaeficiary. �� �
<br /> • . D. All addiuonal sams advaaced and expenses incurred by Benehciary for insuring,preserviag or othenvise pmtecting �• .
<br /> the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms af � � '�
<br /> this Deed of Tnut, plus intetest ai the highest Pate in effest, from time to time, as provided in the Evidence of � '
<br /> :. Debi. � _
<br /> E. Tmstor's performamce under the terms of any insunment evidencing a debt by Trustor to Beneficiarv and any Deed � �� ��-'
<br /> of Trust securing,g�arantying,or othera+ise relating to the debt. (• ' ' _
<br /> � �
<br /> If more than one persoa signs this Deed of Trust as Trnstor, each Trustor agrees thai this Deed of Trust will saaue all � .
<br /> � � future advances and futuce obligations descn'bed above that are given w or incurred by any one or�re Tn�stor,or any { �
<br /> � one or more Trustor and others.'I1iis Deed of Trust vriII not seaue any other debt if Beneficiary fails,with respect to such � . •
<br /> � � other debt,to make any re�uired disciosure about this Deed of Tnist or if Beneficiary fails to give any required notice of ..�. � .'�
<br /> the right of rescission. • . ��^ _
<br /> 5. EAYMENTS.Trustor agrees to make all payments on We 3ecured Debt when due ar.�in accordaroe with the terms of the f � . ' � ". �
<br /> ` Evidence of Debt or this Deesi of Tn�sc. I- ' ����-
<br /> , � �, , _ ...
<br /> - i 6. �VARRANTY O�TITLE.Tn�stor ooveuznts that Trustor is lawfiiliy seized of the estate comeyed by this Deed of Tnut • • ,_
<br /> , 1 and has the right to inevocably grant. comc¢y and sell to Trustee,in ue�st.with power of sale,the Property and warranis � • }����.'
<br /> . , that the Prope►tp is unenca�mbered,except f�r enwmbrances of record. �• � . .� '�'�� --..
<br /> 7. CLAIIVLS AGAINST TTTLE.Trustor wiU pay all taxes.a�s�ssments.liens,encumbrmces, lease payments,8m�d rents, . ..1 ,f.�'—
<br /> � `' utilities,and other chuges relating to the Property wti��e. Heaefciary may requiae Tn�stor to provide w Beneficiary � ` . .
<br /> � copies of all notices thst such amouuts are dae and the rzc2ip�.s evidencing Tmswr's paymen�Tnuwr will defend tide to � ��'
<br /> � � the Property against any claims that would imp�ir the lien of ttus Deed of Tnut.Trnswr agrees to assign to Beneficiary.as � ���.'� -
<br /> requested by Benefi�iary, any rights, claims or defenses which Tnutor may have against parties who supply labor or . • }����� ;_ �us
<br /> . � �u
<br /> raterials to improve or maintain the Property. ��'3`i <. �-
<br /> 8. �.3IOR SECURITY IN'PER�SI'3.Wlth regard w any other mortgage, deed of uvst, s�curiry agreement or other lien : "` '` '' ' ` _
<br /> � document that created a prior secarity interest or encnmbrance on the Property and that may have pdority over this Daed • ��r�•; ` . ;:,:��
<br /> of Tmst,Tnutor agrees: �� ~ r . m4`"
<br /> • A. To make all payments w��a due and to perfotm or comply wit��l covenants. ��'�,�T, ;; • .
<br /> . B. To prompfly deliver to Beneficiary any notires that Trustor receives from the holder. ..;.� ;•-•.
<br /> � C. Not w make or permis any modification or extension of.and not w request or accept any fut�re advan�mder aay ` ' `�'•�� '•� '
<br /> � note or agreement seaue�by,the other mortgage.deed of uvst or security agreement unlas Beneficiary consents ' .' `p t .
<br /> ' �_�� in wrlting. --�` " �. -_
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<br /> -�- �i. i'iuE vi�i$Ai.E i�it�ri�'t�3BRAtY�.Eeneiiciary may,ai us option,u�x;Ia�c tlne entin oai�ux of�c Saaued Dci�i t� ''"� '
<br /> be immediately due and payable upon the creaticn of any lien, encumbraace,uansfer.or sale,or coatraix for any of these ,. _' �'�?'�
<br /> ' , ��-
<br /> on the Property. However. if the Property insludes Trustor's msidence. this seaion shall be subject w the restrictions a_,�_ g,:, '��= _
<br /> � " imposed by federal law(12 C.F.R.591),as applicable. For the purposes of this secxion.the term "Property"also iacludes ;i�:�:°°
<br /> any intemst to all or any part of the Propezty.This covenant shall run with ths Property and shall muisin in effect until the �.,• �;��:.
<br /> , .. _ Seaued Debt is paid in fWl and this Deed of Trust is reieased. '
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<br /> � 10.TRANSFER OF AN II�TERE�T IN THE GRANT�R. If Tn�stor is aa entaty other than a aatural peison(sach as a . � �.;;.'�+�'��
<br /> corporation or other organization),Beneficiary rnay demaad ia�mediate payment if(1)a beneficial interest in Tmswr is - ' .=_ _ �
<br />: ' sold or tiansfe�d; (2)there is a change in either the iQeatity or number of inembeta of a partaetship;or(3)the�is a . • '``�"� -
<br /> :' t~y,..; .;.:-..
<br /> change in owne�sLip of moze than 25 percent of the voting stock of a cocporation.However,Beaeficiary may not demand � •�,��
<br /> payment in the above situations if it is prohibited by law as of the date of ttris�eed of Tn�st. ' ::=_�+,r.
<br /> il.ENTITY WARItAN7i�:S Al� REPRESENTATIONS. If Tmswr is an endty other than a namral peisc�(ssch as a . • ; .� '� �
<br /> cotporation or other organizadon),Tn�stor makea to BencRclary the following warranties and r�v�senta6ons a�ich shall . �'"`: ��
<br /> be continuing as lon$as the Secured Debt remains outstanding: ,�����
<br /> A. Truswr is an entity which is duly organized and validly existing in the Tniswr's state of iucorporat�on (or � r
<br /> . � organi7ation).Trustor is in good standing in all states in which Trustor tr-��..sacts businesa.Trustor has the power : � �-
<br /> � and authority to own[he Property and to carry on ita business as now being conducted and, as applicable, is .
<br /> qualified w do so in each state in which Trustor operates. '
<br /> B. '�e execudoa, delivery and performance of this Deed of Trsst by Trustor and the oblagaBon evidenced by the �-•
<br /> � Evldence of Debi are within t�� power of Tnutor. have 9seen duly authorized, have received till necessary
<br /> govemme*�tal approval,and will not violate any provision of law.or order of court or govemmental agency.
<br /> C. Oiher than disclose�! in writing Trustor has not changed its name within the last ten yeais and has not nsed any ' . -s
<br /> � other vade or fictitious name. Without Beneficiary's prior writteu wnsent,Tnutor dces not and wiU not use any . _
<br /> . other name and will preserve its existing name,trade names and francbises until the Secured Debt is satisfied. I . � �,-
<br /> • lZ.PROPERTY CONDITION,ALTERATTONS AND INSF�CITON. Trustor will keep the Properiy in good condition f � � � �
<br /> and make all repairs that aze reasanably neceasary.Trustor will give Beaeficiary prompt nouce of any loss or damage to _ ..
<br /> • the Property.Trustor will keep the Property free of noxious weeds aad grasses.Trusior will nq��nit�jai�e,�'oin in or consent � ' � —
<br /> ' ' � to any change in any private restrictive covenant, zoning ordinance or other public or pril+ate�eshfet�on limiting or � � � . '
<br /> . : � de fi n i ng the uses w hic h may be m a de o f t he P r operty or any part o f t he P roperty. wi t hout Bene fic iary's prior written �•
<br /> conseat. Trustor will notify Beneficiary of all demands,proccedings, claims, and actions against Trustor or any other � � ' !�'�
<br /> � � � owner made under 1aw or regulation regarding use,ownership aad accuQancy of the Property.Trustor will oomply with all . _
<br /> legal requirements and restrictions,whether public or private, with respect to the use of the Properry. Trustor also ag+ces
<br /> .� that the nature of the occnpancy and use will not change withaut Beneficiary's prior written consent. � �,!.
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<br /> . No ponion of the Property will be removed,demolishe�l or materially alteted without Beneficiary's prior written consent l
<br /> ' excxp!that'PnsKar h�ths righi:o remo:•e itess�of�.°r°,ona!Pso�.."cty zaraPrising a past ot'thc:'superiy that b:,tosr�uarn �
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<br /> , .D1993 Banken SKtomn,ine.St Uoutl.MN I1 80Q397 23411�orm AG40 OT NE 9��3•9E . -
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