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<br /> �4 B. AU future adcances from Lender to Gtantor or other future obligations of Grantor to Lender under any promissory �.-�
<br /> note,cuntract,gua.-anty,or other evidence of debt executed by Grantor in favur uf Lender executed after this • � ,�;�-
<br /> Security Instrument wtiether or not this Security Instrument is speci6rally referenced. If more than une pe�on _
<br /> sigas this Security Instrument,each Grantor agrees that this Security Instrumrnt will secure all future advances and . _
<br /> future obligations that are given to or incurred by any one or more Grantor,or any one or more Grantor and �. ;
<br /> others_All future advances and other future obligations are secured by this Security Instrument even though all or . ��-=�
<br /> part may not yet be advanced.All future advances and oiher Cuture obligatians are secured as if made on the date ; •
<br /> of this Security Instrument.Nothing in this Security Instrument shall constitute a commitment to make additional , ,.
<br /> _ or future loans or advances in any amount.Any such commitment must be agreed to in a separate writing. _ __
<br /> C. AlJ obGgations Grantor owes to Lender,which may later arise,to the extent not prohibited by law,including,but . ,—'
<br /> not limited to,Gabilities for overdrafts relating to any deposit account agreement between Grantor and Lender_ . .�
<br /> D. AU additional sums advanced and expenses incurred by Lender for insuring,preserving or otherwise protecting , ,. � • � - _
<br /> . the Property and its value and any other sums advanced and expenses incurred by Lender under the terms af ; _
<br /> this Security Instr�ment. • � ', . �::"
<br /> This Security Instrument will not secure any other debt if Lender fails to give any requued notice of the right ef rescission. _ „• ;f;„�;�;?
<br /> : ��y S. PAYME.'�''Il'S.Grantor agzees that all payments under the Secured Debt will be paid when due and in accordance , ,-�;-r.�;_._
<br /> with the te�s of the Secured Debt and this Security Iastrument. � , , � ����•�'
<br /> 15. WARRAIV'1'Y OF 1�i"�I-i£.Gramor warrants that Grantor is or will be lawfu:<t�seized af the estate com�ej•ed by this : ;, . •
<br /> - Security Instrument a�nd 'nas the right to irrevocably gran�convey,and sell the Property to Trustee,in trust,with :`���._
<br /> � power of sale.Grantor a;so warrants th2t the Property is unencumbered,except for encumbrances of record. --�.:,�.,,�„r,:,,,, �
<br /> 7. PRIOIt S��3R17'1t�"s'ERESTS-�fii-�h regard to any other mortgage,deed of trust,securi�agreement or other lien ' �.;,., _.
<br /> - dacwnent�at createc�a�rior securaty�interest or encwnbrance on the Property,Grantor agrees: �. ���"
<br /> A. To make all payne:.nts when due and to pedorm or compl}with all covenants. � � . ��f.`�,.h_
<br /> -�- B. To promptly deliver to Lender any notices that Grantor rzceives from the holder.
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<br /> C. No:to allaw any modification or extension of,nor to reyuest any future advances under any note or agreement �-.---r�;���'�
<br /> secured by the lien document without Lender's prior written consent. _��.� `"'--
<br /> S. CLAIINS AGAtNST TD'�'LE. Grantor will pay all taxes,assessme�ts, liens,encumbrances, lease pay�ments.ground ��
<br /> � . i e'. � �.. ,.
<br /> rents,utilities,and other charges relating to the Property when due.Lender mav require Grantor to pro�ide to Lender � _ � 1,�: _
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<br /> - copies of all notices thai such amounts are due and the receipts evidencing Grantor's payment.Grantor will defend �:�`- .• ' '""' '.i:�;�
<br /> :s-::..
<br /> title to the Property against any claims that would impair the lien of this Security Instrument.Grantor agrees to assign ,_�t;�;� `:,���' _ _
<br /> to L e n d e r.a s r e q u e s t e d b y L e n d e r,an y ri g h t s,claimc or defenses Grantor ma y have agaimtt parties who supply labor "': ;, , 's.�;�:
<br /> or mat:rials to maintain or improve the Propeny. � ��� �,
<br /> � DYJE ON SALE OR ENCUMBRANCE.Lender may,at its option,declare the entire balance of the Sccured Debt to ��-`, -�
<br /> be immediately due and payable upon the creation of,or contract for the creation of,any lien,encumbrance,transfer ,--
<br /> or sale of the Property.This right is subject to the restrictions imposed by federal law(12 C.F.R.591),as applicabie. � �,y� �
<br /> . This corenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this !�� . .:�' �'��
<br /> Securi+n IrLStrument is released. '�1 `
<br /> - 10. PY20PER3'Y CONDI'I'lON,ALTERATIONS AND INSPECTION.Grantor will keep the Property in good �:�� !''
<br /> ' - condition and make all repairs that are reasonably necessary. Grantor shall not commit or allow any waste, �;� °
<br /> __ _ imrairment.or deterioration of the Property. Grantor will keep the Prop�rty free of noxious weeds and grasses. _�:�!�"=-_=�
<br /> Grantor agrees that the nature of the accupancy and use will not substantiall} change without lxnder's pnor wntten ,�'��
<br /> consen�Grantor will not permit any change in any license,restrictive covenant or easement without Lender's prior �--�
<br /> written consent.Grantor will notify Lender of all demands,praceedings,claims,and actic:�s against Grantor,and of • �``y"���-•
<br /> } any loss or damage to the Property. �.
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<br /> Lendar or Lender's agents may.at[.c:nder's option.enter the Property at any reasonable time for the purpose of �� -�. �- .�:
<br /> inspecting the Property.Lender shall give Grantor notice at the time of or bcfore an inspection specifying a �- :,:;_-
<br /> reasonable purpose for the inspection. Any inspection of the Propercy shall be entirely for Lender's henefit and '�'° -�"'-'-
<br /> :1;;� Grantor�+ill in no way rely on Lender's inspection `�''r��� r'�'�•
<br /> ' Il. AUTHORITY TO PERFORM. Ii Grantor fails to perform any duty or any of the covenants contained in this _,;�.r:_
<br /> Security lnstrument,Lender may,without notice,perform or cause them to be pedormed.Grantor appoints Lender ��
<br /> as attorney in fact to sign Grantor's�ame or pay any amount necessary for pePformanc�:.Lender's right to perform for =":,K._, •-. ... .
<br /> �� Grantor sha11 not create an obligation to perform,and Lender's failure to perform will not preclude Lc:nder Prom '�.� I,� -'-'
<br /> exercising any of Lender's other rights under the law or this Security Instrument.If any construction on the Properly is ' "�•�
<br /> �;,,:.,_��
<br /> • ' discontinued or not carried on in a reasonable manner,L.endcr may take all steps necessary to protect l.ender's �: ��� �r��-
<br />' security interest in the Property,inctuding completion of the constructiun. � �:,
<br /> ]!Z. ASSlGNMENT OF LEASES AND R�1�P['S.Grantor inevocably grants,conveys and sells to Trustee,in trust for the ��"�r. •
<br /> ' benefit of Lender,as additional security all the right,title and interest in and to any and all cxisting or futurc Icases, _• _
<br /> ' subleases,and any other written or verbal agreements for the use and occupancy of any portion of the Property. :i. �����°`- _
<br /> • includina any extensions,renewals,modifications or substi�utions of such ageemenu(a{I retcrred to as"Leases")artd `'`"'�'P"•"'`=°'`M':�''��''` _
<br /> -�,..:. ..
<br /> rents, issues and profits(all referred to as•'Rents"). Grantor will rom tl roaide Lender with true and carrect ' 'A'�'�'���� �'� •� .
<br /> P F Y P ����.•:
<br /> copies of all existing and fuwre Leases.Grantor may collect,receive,enjoy and use the Rents sa long as Grantor is not �'�•• �'~� �
<br /> in default undcr the terms of this Security lastrument. -- "`•`�`�:''�=
<br /> Grantor acknowledgcs that this auignment is perfected upon the remrding of this Deed of'I'rust and that Lsnder is . - �. '
<br /> entitled to notify any of Grantor's tenants to make payment of Rents Jue or to bccome due ta Lendcr.However. � .
<br /> Lender agrees that onty on default will L.ender notify Grantor and Grantor's tenants and makc demand that all futurc . . . � _ _
<br /> _ . I:ents be paid directly to Lender.On rccciving noiice of default,Grantor will endorse and deliver to Lt;nder any •
<br /> payment of Rems in Grantor's possessiun and will rec{:ive any Rents in trust for Li:nder and will not commingle the • � ��
<br /> ' Rents with any other funds. Any amounts collected will be applied as provided in this Security(nstrumcnt. Grantor •
<br /> � wanants that no default exists under the Leases or any applicable landlordltenant law.Granxor also agrecs to maintdin • . • . _
<br /> � and require any tenant to comply with the tcrms of thc Leases and applicaMe law.
<br /> 13. LEASEHOLD5;CO1V00119lNIUMS; PLANNED UNIT DCVCUDP119EN75.Cirantor agrce� to comply with thc • ' �
<br /> .. • provisions of any Icasc if this Sccurity Instrument is un a Icasrhnid.if thc Pn�perty includcs a unit in a condominium . '. ' �
<br /> � • ar a planned unit development, Crantor will pctfc�rm all o(Cirantor's dutic� unJer thr covenants, hy-la�vs, or , . � _
<br /> '_ regulations of thc condominium or planned unit de�•elupment. �
<br /> 14. DEFAULT.(irantor will he in detault if any party uhligate:d un thc Scrurrd Deht fails ta make paymrnt when due. .
<br /> Cirantor will br in default if a hresich uccurs under the tcrm.uf thi,ticcurity In�trument or any othcr dncument . �
<br />__,---°- lnagn2o141 ' �
<br /> � r�J' �947BantoroSYS7emv Inc 5�GoW MN 1�BOU39)711�� FoimRE�DT�NE 68+93 -- . �
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