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<br /> COVENANTS (�7° ��1ry/��� ,
<br /> V/f/��iJ�
<br /> 1. Psymmto. Eio�r�war apraoa to mal<o nll peVmonta on the oocurod dobt whon duo. Unloea Borrowor and Landor oproa ot orwlao, nny _
<br /> povmqnta l.nndar rncolvon trom Oorrowor or for 9orrowor'a bonofit will bo oppllod flrAt to nny amounto Borrowor owon on tho aocurod dobt
<br /> � not ri�duco or�oxcuio�onylschodulud poymont ntil tho�ocu�od dobt le�pntd in}�j�ol propaymont o}tho aocurod dobt occura for nny rouaon,it will �}'
<br /> �•, a.��7'
<br /> 2.Cidrru Apalmt TINr.8onower wlll pey ell taxea,easesamonte, end other charpoa attributablo to thp propnrty when due and wlll defend titlo ,;_
<br /> to tha prap3rty rp��nat any clelme which would Irnpalr tho Ilon of thla deed of truot.Lender may requlre Borrowar ta aasipn any rfphte, clalme or „
<br /> detonsea whlch[iorraw�r may have apnlnst partlea wha eupply labor or metorlals to Improva or mafntein tho proporty.
<br /> 3. IrtTUrareCe. Borrnwar witl kaop the propsrtY insured under terme ecceptabla to Lender et Borrower'e axpenae and for Lander's benefit. Ali � -
<br /> i Inswanc�pollr,les nhell i�iCl�ado o etandard mortgago cibuAO In fevor of Lender.Londor wfll bo named as loss pnyso or as tho Ineurod on any s��ch __.
<br /> in9uranco polley Any In ure�ce proceede mep be appited,within Lender'e dlscretlon,to eithor tho rosturatian or ropafr o(tho damoflod property
<br /> ur to tha oacurnd dc4'i,I�1.�lnder requlrea mortgege inaurance,Borrower epreee to malntaln euch Inaurance for es lor+p es Lender requlros,
<br /> � 4.Proy�rty.Borr�war will lcoep the property in paod conditlon end mako all repefrs roesonably neceasary. '
<br /> 6.Expsnto�.Borrower apro39 to pay ell Lender'o expensea inCluding reeeonahle attorneye'feea, if Borrower breeke any covenento in thla deed . •
<br /> i of truet or In any ob�igation socured by thls dead of truat.�otrawar wlll pay these emounts to Londer as provided In Covenant 9 of th13 deed of
<br /> trust. , -
<br /> 8.Pttw Sccu�ity lritt�rafte. Unlees Borrower 4i►st obtaina Lo�dor's written consent, Rorrower wlll not mako or permit any chaneos to any prfor . t
<br /> security into►o9te. Borrawer wiil perform all o} Borrowor's obligatlans undor any prior mortgage,deod of trust or other socurity agroomont, . .
<br /> ' Inciudinp Bortpwer's covenants to meke paymsnte when duo. _
<br /> 7.A�ei�nm�nt of Rsntf and Peoflto.Borrowor ossipns to Lender 4he rents a�d profita of thp properry. UNOSS Borrower end Lender have agread .. � ,,:�, �,'�,�.1
<br /> othanviao I�writin0, Borrawa► mpy coliact and retain the ronta ns lang as Borrowor ia not in dofault. If Borrowor dofeults.Londer, Lendor's • .�v.L-�,-_
<br /> ' ogent, or p court epDOinted roceivur may take poesesalon and manage tho property and collect the rents. Any rents Lendor collects ehall be •.: � '`.`�R`�a�;�R=°=
<br /> eppliod flrst to the co9tE� at manapinp thA propercy, (ncluding court costs and attorneyd fees, commisoions to rental a�ams, and any other '.• � •-�`�r�,�
<br /> necesoory ralatad expsnsos.7he remaininn amount of rente wlll then apply to paymonts on the secured debt as provided in avonant 1. ��':; •:!" :��--''"`
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<br /> Q.Loa��hdds:Cancl✓miniurn�:Plann�d Unit DevNopm�nu.Borrower apreos to comply with the provisiona of any loaeo If tf�is deed oT tru8t is on •. ��re���
<br /> a looeahold. If this daad ot tru�t Is on a unk�n o cor.dominlum or a plenned unit dovnlopmaat, Borrnwer will pertoim ell of Borrovier's duUea �...'��:<"`,,
<br /> � uodor tha wvenant�.by1nw�,or�epulatlons ot tho condomi�lum or planned unit dovelopment. •{�f r'_`,,,.:.-,-
<br /> �.�,�S3Adl-_.
<br /> 9.Ainfinrity of L�nd�r to P�rform far Iiarowsr. If Bortower faite to pertorm any of Borrower's dutiea undor this deod af trust,Lender mey ,;,, '��, �;�'�';,;'
<br /> � porform th0 dutics or esuc�i them to ha performed.Lender may sign 8orrower's name or pay any emaunt if nocessary for periormence.If any ,���,f y�,j,^.�^�`---
<br /> � conetruCtton on the properYy is dlscontinued or not ce►rlad on In a reasonable menner,Lendor may do whetever fa nocoasery to proteat Lender's ;:�:�'' • :�:�
<br /> security lnterpst In tho property.Thia mny include completing the conatruction.
<br /> - �:.r,.�w[--
<br /> j Lender'e fniiuro ta parfarm wiil not precludo Lundor from exerclaing any of Ita othor riphte under the low�r thfa deod o9 trust. ','•� •�;:,:•`, --
<br /> i�' .
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<br /> 1 Any emounte pt�d by Londer to prptect Lender's security interast wfll bo secured by thle deed of trus4.Such amounte wiil bo due on demand .
<br /> � and will beer Intorost frpm the dete ot the peyment until pald in tull et the Interost rate in eHeat on the eecured debt. :
<br /> ' 10. D�f��lt �od Aoc�l�rr4lon. if Borrower fniln to mako eny payment when due or breaks eny covenonts undor thia deed of trust'or eny „ ,
<br /> obligation eacurod by this deed of truat or any prior mortgapa or deetl of trust, Londer may accelerate the meturity of the sacurad debt and
<br /> domend immodimto paymant end moy Invoko the power of aale and any other remedies permit4ed by eppticeble law. . 6 .
<br /> ' 11.Ru�ueat fo�,Nmtirn of Defauit. It Is heroby requasted that copiea of the noticoa oi default and eAte be sent to each pereon who is a party "'��, �
<br /> �- ���� � -�i her6t0,at tna aaoross vi oaci�oui,P�pc�ov��,o0 0o fa:ih::�ia:^. — -- --
<br /> 12.Pa�arx of B�l�.It the Lender invokea the power oi aaie,the Trueteo ehell first rocord in the oHice of the regiater ot doods of each county r `•
<br /> , wharofn the trust property nt dome port or parcel theisof Is ekunted a notice of dofault conteininfl the information required by law.The Truatee `�{��.�
<br /> � � ehell oiso mall copios oi tht notice of deteuit to the Barrower, to eaoh person who ta a party hereto,and to other pereana as prasCrlbed by •�,;:>: . �
<br /> applicebto law. Not 1e�9 thtn one month after the Truatee records the notice of dofault or two months if the uuat ptoperty ta not in any ::;:k '��
<br /> � Incorporetod city or vlli;tye end le uaed tn farming operatlona cerried on by the truotor,the'Fruatee ehaii gtve pubiic notice of eate to the persona ry
<br /> i� and in the msnntr proseribEd by apppllaable lew.Truutee,without demend on Borrower,ehell seU the property ot publla eu�Kion to the hlohoat � ,. ���, ,
<br /> � biddc►.If roquirod by tht F�rm Homoatead Protect(on Aat, Trustee sha!i offor the proporty in two seperato ealos ai requlrod by eppilcable law. , ;t, ;�;�
<br /> � ' Truatoe msy postpo�e ealo of c+ll or any parcel o}the properiy by publia announcement et tho time and ptoee of any previously scheduled eale. � �
<br /> , Lendor or Ite deslgnee mey purohese tha property at eny sale.
<br /> Upon raeelpt of pavment of the price bid,Trustee ehail deliver to the purcheser Truatee'e doed conveying the property.The recltiala co�telned In � �
<br /> �: Truttes'4 deed shnll bo prima facle evidlence of tho tr►�th of the statomento contninod thorein.Truotoe shall eppty tho proceede of the sole In the � :_=
<br /> _ followinp order: (nl to a13 expensea of tho salo, Includinp, but not Itmited to, reaconuble Trustce's foea, ►easonabto ettorney's feee end - ���
<br /> relnstatement foos;lb)to eil aums aecured by this deed ot trust,ond(c)tho bnlanco,it nny,ta the pereone�egelly entitied to receive It. ��
<br /> � r��:
<br /> �. 73.Foracio[ure.At Lmnder'e option,thia deed of truat may be toreclosed in tho mAnnor provfde by appllcable iaw for forecloaure of mortgaeea —��
<br />- ,� on roal property. _ �___•
<br /> " 14.In�psction.Lendar mey entor the property to Inspect it If Lender gives Borrower notice befarehand,The notice muet state tha roaeonabfe -m��°
<br /> � , caueo tor Londef's ins�oa4lon. YR���'ti•�
<br /> �� 16.Condemnation.�oTroiver assig�ns to Lender the rocoads of any award or elsim tor damegea connectad with a condemnetion or othar takina ,��-�,--""_"-��„�,,,
<br /> , � of ell or eny pRrt of iho p�oporty.Such proaeeds wIP be epplled as provided In Covenent 1. Thla aasignment is eubJect to the terms o4 eny prlor -;��'__�
<br /> : � eecurity egromment. _ �;w-.._..__ -
<br /> 18.WMvsv.By exorctn:nfl any romody avallablo to Lender, Londer does not flive up any riphte to later use any other remedy.By not exorcisfn ��Y��y�
<br /> _ � � fl :�;,�{�:nv.:�.:
<br /> any romedy u�on Borra�ver's detoult,Lendar doos not waive eny ripht tu lator consldor the evont e defauit(f it happens epain.
<br /> � :, x k.1�0'f .
<br /> 17. Jdrrt md Bevs7al UeibNiri; Co-�Ipnerr. Succ�asors And Auiym Bound. All dutlos undar thls doed ot trust ero joi�t a�d soveral. Any � __
<br /> Borrowa► who co•st�ns ihls deed of uuat but does not ca•stgn the underlying dobt InstrumenNe) doea so only 4o grant and convoy that
<br /> � Borrower'e irrtorost in tho property to the Trustee under the torms of this doed of troet.in additio�,such o Borrowar agreea thet tho Lendor nnd • �` �';:�.`�--•:�
<br /> enY otMr Borrownr uoAer this doed ot truat may extend, modi�or make r+ny othor ahengoo In the torms of this deed of wet or tho securad � +,"•��j;�l�r�:
<br /> de6t wlthout th�t Bo�rawesrr'e consent nnd without roloaslnp that orrower trom the torme of thie doed ot trunt. ;;;,.,: • :, ��>��;�j '�.
<br /> ' The dutlea und bEnefito aT thls doed ot trust shell bind end bonofit tho succossors and easigns of londor end Botrowor. ���:'!`: .. �' ' .
<br /> 'I 10.NoUe�.Unleee othcrwiso ro ulrod b iaw,an notice to Borrower eheil be Iven b doliverin it or b mallin ft b cartified mall eddreased to ;�`� ..'�
<br /> Q Y Y 8 Y 8 Y 9 Y � i-.+, .
<br /> Borrower et ths pro�crt�t�ddreae or eny other eddrose that Borrowor has givon io Londer. Barrower �vill pive any notice to Lender by cartifiod
<br /> mail to Landct'o 6dOross an pape 1 of this deod of truat,or to eny othor eddress which Lender has dosignnted.Any other notice to Lender shall �
<br /> - • be aent to londn'e adtiro�e ea stoted on pa9e 1 of thie deod o f trunt.
<br /> „ <r,
<br /> Any notice shtll Oe dc�ma�d to havo beon glven to Borrowor or Le�der when givon In the manner statod above. '
<br /> 10.Trnn�fet of tht Property or�Bon�flclr Int�n�t In th� HarrowM. If ell or eny part of tho proporty or any In4otoat In It Is sold or t�ansferred ���
<br /> wlthout Lendev'e prlaT w�itton consent. Lendsr mey demand immvdieto pay�nont of tho secured dubt. Londor mey elao domend immedinte
<br /> demandtpiymim In tl,a r ovo eltuetfons�If Ip Is p ohibtod by fodorel law as of the data ot thls doodl�dt otrN�naterrod. Howovor, Londor mny not :
<br /> .,.
<br /> 2Q. RwonveyVnc�. Whin tho o6Ugntion socured by thl�dead of truai hab Deen paid end Lendor has no further obligetfon to mokb edvancoa
<br /> under ths Inftrumanto er agioemonta socurod by this dood of trust, the Truetee ehalf upon wrinen roquest by the Londo►,roconvey the truet ,.'� .
<br /> propertV• Y��a Londcr r,�Ctl doliver to tho Borrower,or to Borrower's succoseor in intoreet, the 4ruat deod and tha noto or othor avidanco ot tho ;
<br /> --- —
<br /> oblipatlon so satt6fltd.Oorrowor shall paV any rocordatfon costs. � ::.-' _
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<br /> Yt. 6ucctsaor Tn�stoa. Londor, nt Londor's optfon, moy remove Truatoo and appoint a succassor trustae by tiret, mailing o copy of tho
<br /> - _
<br /> eubstitution of trweu�e�raqufrod by app�icablo Isw, nnd thon,by filin�tho substitution oi trustoo for record in tho offica of tho rogiator of doode �
<br /> uf oacli coun�y in wh�tit the trust p�opurty,or somo part thuroot,fs s tuatod.Tho ouccnseor truatoo, without convoyanco of tho proporty, ahall
<br /> eucceed to ail tlia powot. dutloa,authority and titio of tho Truetoo namod in tho dood of truct ond of ony succossor truatoe.
<br /> lPape 2 0/21 I
<br />—' � 11ANlt1.0U O�OtElAR.11C.GT CLOUD.MN 60301 11 600$97�73�51 FORM OLP�MTO NE 6!19/B7 •
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