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HomeMy WebLinkAbout869855(f, }o °fled) 00'000'8T$ 30 J,NMAN MIL NI 00 /VE /TT CIIJ,tiCI SION XdOSSIWO d Cap 'gawp C unlvuw 'sajw 1samalut 'slummy ajou `sazuvu ,sianto.troq sv zpns swan apnput paisa88ns st It ntotaq slgap alp 8upuadafai uaz1t) •suoilnlpsgns 10 suonuoijtpouz `sigMauaz `suotsualxa itagl IF Pug Moiaq paquosap igap 3o aouapina iagjo 10 (s)&lug1 n$ `(s)1og11uo3 `(s)alou £Zossguoid iie 3o suuai aul zapun pallnout lgaa •d :sMoiioj se paugap si „lgaa paznoas„ uzzal mu, 'saamvAav a2Iama (INV lima GallaOaS °b 1uaunulsul ,iiunoas slrtl uc pan uoo sluauanoo aq1 jo Sur uuojzad of pue Alinoas s,1apuaZ void o1 luauznllsul ,ilunoas snp jo suual au1 .spun apetu saoUenpe of ,fidde 1ou saop uouelnutl snp `osid •luauuulsui ,ilunoas sip of luensznd op= ,Cipgen saki po pue saaj imp u pue wapiti! apnput lou saop iunoUZe 3o uoueIlulil StuJ 00' 0008T Paaoxa lou jets au p auo Sue w luau uisul Alunoas slop ,iq paznoas lunou1 iediouud !viol au, •insII'I NOLLv JI'Ig0 INimsiiXvrsi „Auadozd„ se 01 paiiajai Ile) anoge paquosap mewl lean au13o lied aq 'aim; aul ut auzzl Sue le 10 `MOU ,feuz leul sluaulaoeida1 pug `saznlxtj `sa1nion1ls `sluauzanoidun azninj pue 2utlsixa iig pue 3pols 1a1EM puz `sagolip `s1 ueuedu pue 1a1EM iie `sl$u set pue iio `s1g2!1 iezautuz `satlie,foi `saoueuo indde `sluauzasea `sl Iie uITM 1agla20J, 01 11 pug (apoj dIZ) (MD) 121E8 2unuo,AM 0002 T7 T 2IIEInIIAON 1e e;rea augaoaaj ao3 Gu17 spa anogy ands fJet3 'aeuf3eM euuee r '0N AM 'JeJowweH .e .•..•e6e W 3 g d 9r lioog ui p fg PepJooeu b6/111L/1. L AM wind LbEZ NW 'p^o10 '1S "9ul 'sweisAS s,e )fue9 4661® (3Sl VA 1:10 VHA '0011Hd 'VWNA 1:103 1ON) 39VDIHOW DNIWOAM SNAG (Muno3) (asng10 aoutApd °mind u1!M) aDVOLLIION (ssaippv) OTTE8 AM 'NQL3K NQIDNIHSVM '✓8E L008 XOH 0 d DNIWOAM 30 SIVIS all 30 SMV I all boom ONIZSI) UNT OEZINVDHO ASIA ZIVLS 30 N` E HHL IERTIS v ivU 88Z NIQ0NI7 ui pa1gooi st ,ivadozd at!" 3022131I J,2IFId V arm CM/ QI 3H a HD1zL w SI I-DIHM 0 2ItKMI3S 01 223221 :,il1adozd paquosap 2 utMopo3 aul `ales jo 1aMod t1IM 'zapuaZ 01 Slue1zeM pue saMl1oUZ `s,fanuoo `sunazeq `slue1$ 10 1.toN `luauznllsui Allmon stop 1apun aouguuopad s,zo5aizoj pug (Mopq paunap) mu Ninon aq1 moos of pue `papaimoU)ioe si uotgM Jo ,iouopujns pue ldpoaz aul `uope1ap!suoo aigenien pue pool 10d 'aDNVA3AAi00 'Z :2I8aN3'I sluauapolmou ioe pue sa1nleu2is 1iaul `s1o2e2l1ow ieuowppe 10j `uta1aq pa1ezodzoou! Uznpuappd pagoulle min 04 1aja1 `pa3ioa p ji L Z1E8 AM VI-11 ZLT XOH Od NOSE3d =NIS ti =AN ')I v`'l d :1I00VOI1I0Y4I :smoiioj se on `pai nbaz 3t `szagtunu uoileolJiluapi xe1 pue sassa1ppe _rain 'sawed si (1uauznzlsul 1unoas) a2e stop Jo aIeP au,L °Sail 1Vd QMd aiva 8unuoSm, Jo a1E1S o iy, t 'r 039 B. All future advances from Lender to Mortgagor or other future obligations of Mortgagor to Lender under any promissory note, contract, guaranty, or other evidence of debt executed by Mortgagor in favor of Lender executed after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs this Security Instrument, each Mortgagor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by any one or more Mortgagor, or any one or more Mortgagor and others. All future advances and other future obligations are secured by this Security Instrument even though all or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate writing. C. All obligations Mortgagor owes to Lender, which may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Mortgagor and Lender. D. All additional sums advanced and expenses incurred by Lender for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Lender under the terms of this Security Instrument. This Security Instrument will not secure any other debt if Lender fails to give any required notice of the right of rescission. 5. PAYMENTS. Mortgagor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of the Secured Debt and this Security Instrument. 6. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Mortgagor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Lender any notices that Mortgagor receives from the holder. C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Lender's prior written consent. 7. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Lender may require Mortgagor to provide to Lender copies of all notices that such amounts are due and the receipts evidencing Mortgagor's payment. Mortgagor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or materials to maintain or improve the Property. 8. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released. 9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor shall not commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without Lender's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims and actions against Mortgagor, and of any loss or damage to the Property. Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of inspecting the Property. Lender shall give Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. 10. AUTHORITY TO PERFORM. If Mortgagor fails to perform any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for performance. Lender's right to perform for Mortgagor shall not create an obligation to perform, and Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect Lender's security interest in the Property, including completion of the construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor irrevocably grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and interest in and to any and all existing or future leases, subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases and rents, issues and profits (all referred to as "Rents Mortgagor will promptly provide Lender with true and correct copies of all existing and future Leases. Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor is not in default under the terms of this Security Instrument. Mortgagor agrees that this assignment is immediately effective between the parties to this Security Instrument. Mortgagor agrees that this assignment is effective as to third parties when Lender takes affirmative action prescribed by law, and that this assignment will remain in effect during any redemption period until' the Secured Debt is satisfied. Mortgagor agrees that Lender may take actual possession of the property without the necessity.of commencing legal action and that actual possession is deemed to occur when Lender, or its agent, notifies Mortgagor of default,,and: demands .that any.tenant pay all future Rents directly to Lender. On receiving notice of default, Mortgagor will endorse and deliver to Lender any payment of Rents in 'Mortgagor's possession and will receive any Rents in trust for Lender and will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Mortgagor warrants that no default exists under the Leases or any applicable landlord /tenant law. Mortgagor also agrees to maintain and require any tenant to comply with the terms of the Leases and applicable law. -X1994 Bankers Systems, Inc., St. Cloud, MN (1 -800- 397 -2341) Form RE- MTG -WY 11/18/94 (page 2 of 4) (f Jo E abed) b6 /8t /L L AM D1LN W)od (LtEZ NW 'Pn "3U 'SWO SAg smIue5 b66 L 10 puma lou Timis iedtauud o1 spaaoold 3o uopeoliddg Aud •uotldo s,zapul-4 T `anp umgl IOU 10 zaglagM '1gau pamOaS alp 01 10 Auadozd a1413o n11da1 10 uotlezolsaz 0143 o1 pagdde aq iiegs spaaoozd aoueznsut H11 `2uriuM ut paaiSe asiMlaglo ssaiun •1au8uoysT Aq A4algtpatului am' iou 3t sso4 3o 3ooid axeut hut zapua- •iapua'-i pug lapin aoue.msut aq1 of aotlou algrpaututl anlg Timis 1o5e8lzoyAi `ssot uodn •saotlou 4emauat pue sum pied 3o sldiaoat i1e lapua-4 01 11118 ATaleipaunul Hugs 108m2uoyAT 'sazmbal lapua-4 3i •siemaua1 pug saiotiod ail Nog of 314 .2t1 ail aneq ITT iapuari •00uu1nsut OM 3o UOUmuttulal 10 uoileiiaouuo 3o iapuai A3r1ou ATaleipatutul imp 1o8g5uoyQ aaAmd ssol„ `aigmotidde a ti /A `pug „mum 18118110111„ pi pugls m apniouT Hugs pug lapua-i 01 aiquidaooe aq ins sjgmauaz pug saptjod aoueznsut !Tv •luatun11su4 A3!moaS sup JO SUM) ag101 autp1oo011 Auadold aqi ut sig8t1 s,lapuo' loalold 01 a8u1an0O uieigo 'uotldo s 111 'Aew zapuaZ `anogm paquosap a8ulanoo aq1 utulutguu 01 sag 1o8m831oyAi 3I 'piatigit' ATgeuosealun aq 1011 imp got14M `Tmnozddg s o1 loafgns 1o8118uoTAT Aq uasogo aq Tiegs aouulnsu! a1418utptno1d 1a111go Oominsut aq,I, •saimbaz zapua-j imp spouad aqi 103 pum slunolue 1141 u! 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Any excess will be paid to the Mortgagor. If the Property is acquired by Lender, Mortgagor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Lender to the extent of the Secured Debt immediately before the acquisition. 19. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 20. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender upon request, any financial statement or information Lender may deem reasonably necessary. Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagor's obligations under this Security Instrument and Lender's lien status on the Property. 21. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Mortgagor signs this Security Instrument but does not sign an evidence of debt, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation. These rights may include, but are not limited to, any anti deficiency or one action laws. Mortgagor agrees that Lender and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. 22. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Lender is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. 23. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one mortgagor will be deemed to be notice to all mortgagors. 24. WAIVERS. Except to the extent prohibited by law, Mortgagor waives any right regarding the marshalling of liens and assets and all homestead exemption rights relating to the Property. 25. OTHER TERMS. If checked, the following are applicable to this Security Instrument: Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes] Condominium Rider Planned Unit Development Rider Other Additional Terms. SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Mortgagor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. Ole 4 lgnature) p 1 PAMELA K. 1 (Date) (Signature ACKNOWLEDGMENT: STATE OF .WX41v.I (Individual) This instrument was acknowledged before by Ra1744..K,..1v.1eGk ..4?..GA ,X..Sa,. 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