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<br /> ,� COVENANTB 1�� . '"""�`"'�-'
<br /> � 6 ."#�:•`:�
<br /> 9. P�ym�nt�. Bor►ower apreea to meke all paymonte on the eecurod dobt when duo. Unlose Bor►owo�afidZandor aprea otherwlso, eny ,
<br /> poymonta L�ndor roCOfvoa trom Borrowor or for porrowor'a b�nofit wlll be appllod first to any omounte Borrowor owAS on tho eocurod debt �
<br /> oxclualvo of Intoront or princlpal,aecond to Interost, end thon to principol.If partinl propaymont of tho socurod dobt occure for any reeaon,it will
<br /> not roduce or excu6e eny echedulYt!payment until tho ancurod debt le pofd In full,
<br /> �
<br /> 2.Ci�im�Ap�lnyt T(dY.Dorrower wlil pay all tax�e, asaonsmento, and othor cherguu attributnblo to tho property whan dua end will dofend tltl�
<br /> to the property o elnot any ctelrne whlch would Impalr the Ilen of thle deed of trust.Lunder may requlro Borrowor 4o aecign ony riphta,clslme or
<br /> ,., defans9e which�orrower may heoe afleinet pertles who suppiy lebor or meterials to imp►ovo or mnintafn tho proporty.
<br /> 3.Insur�nc�. Borrawer wlll keep tha property Ir�sutod under terms eccaptnblo to Londor at Borrowor's exponso and for Londflr's benotit. All
<br /> insurence policlee ehell Include e atanderd mortaeflo clau�e in favor o}Lender.Londer will bo named es loae pnyea or as tho inau�od on eny eunh I
<br /> ineuranco pollay.Any Ineurance proceeds may bo epptlod,within Lender'c diccration,to oithqr tho restoratfon or repair of tho dflmapod property
<br /> I or to the aecured debt.If Lnnder reyuirea mortgaqe innuronco, Borrowor Uprooc to malntaln,uCh innurt+nC�for es long es Lender req��iros. ,
<br /> 4.Rroparty.8orrower will keep the proparty In good conditlon and make all repairs reasonnbly necossary. "
<br /> � � ,� I 6.Hxp�nt�a.Borrower agreea to pay ell Lender'e expensos Includinp reasonoblo nttornqys'feos,it Borrower brnaks eny covonflnta in thls dood "
<br /> ot t�uet or In any oblipatlon secured by thfe doed of trust.�orrower will pay thoso nmounte to Londer ao providod in Cavonant 9 of thlo doed of
<br /> truat.
<br /> • 8.Prlor B�curity Intsr��t�.Unless Borrower first obtelns Londer's writton conaent, �orrower will not mako or parmft any chflnpoc to any prior �
<br /> secutity intereste. Barrower wlll per(orm eli of Borrowor'e obligationa undor any prlor mortgugo, doed of trust or other socurlty egfeement, "��+'•
<br /> Inciudinp Borrower's covenonte to make paymente when due. �.,.
<br /> 7.Antlpnment of R�nU�nd Proflts.Borrowur aesigns to Lendor the rents and profits of tho propnrty. Unloss Burrowor end Londar have spreed �
<br /> othnrwise in writinp, Borrowor may colloot and retein the rnnte ns lonp as Borrowor ia not fn dofault.If Borrowor dofaulto, Londor, Lendor's � _- -
<br /> ' apont, or e court appolnted raceivflr mny tako pos8esslon and menape the proporty and collect the rents. Any rontn Londor colleate shnil be
<br /> applied first to the costs ot manaping tho proporty, Including court Costa and attornqyo' fees, commieaions to rentnl aponta, und a�iV o4hor , ,t,_:,�.�
<br /> neceasary reiated exponses.Tho remaining amount ot rents wfll thon apply to paymonts on the securod debt as provided f�Covonnnt 1, A�..�_
<br /> � 8.Leat�hdds•Condominlums;Pl�nn�d Unit D�vdopmrnts.,Borrower agreea 4o comply with the provisiona of any lease if this deod of trust Is on ��,..`��
<br /> �' a leaaehotd.If thie deed of truat fa on e unit in e condommium o► a plannod unit dovelopment, Borrawor will perform all 04 Borcotver's dutiea I�yC�,_,,
<br /> x � undar tfio covcnant�,b�•le�va,or reflulations o4 the condominium ar plannod unit dovolopmont. = c
<br /> a 9.Authority o!L�nd�r to P�rtorm ior Bortawer. If Borrower ?alls to porform any oi Borrower's duties undor thls dood ot truet, LnnAc�r mey —`` ��=
<br /> . perform the duttes or cause them to be performed. Lender may sign 8orrawor'9 nnmq or pay any emount If neeeasAry for porformance. Ef any �+`+`�
<br /> construCtton on the property is discontinued or not carrled on io e reasonoblo mannor.Londer mey do whatever is neceasary to protACt Le�der's �w;-�
<br /> � aecurlty Interest In the property.Thfa may include completing tho conotruntion.
<br /> � �c_,::�;�-'�:R-
<br /> {. . Lender's failure to pertorm wili not proclude Lender from exorcising eny ot Itq othqr righto under the law or this deed of trust. .r.°,•�.s„.
<br /> rn,
<br /> � Any amounte paid by Lender to proteot Lender's security interest will!�e socured by this deed of trust.Such amounto will bfl duo on demand �;,;_-• -
<br /> �� and wili Gear intarest from the dete of thA payment until pald in full et tho Intorost rato in offect on tho socured dobt. ;.s,._.,,,._.
<br /> .z�:zr�.
<br /> 10. D�fwit�nd AccN�reUon. If Borrower fails to make any paymont wh�n duo or breaka any covenants undor thls doed of trust or any �•��_—
<br /> obllgation secured by this deed of trust or any prtor mortpage or doed of trust, Landor mey accolorate tho maturity of tha saoursd debt end n���s
<br /> demand immediate payment ond may invoke tho power of selo and any othor�emodioe pormitted hy eppiica6le lew. �
<br /> y� ( .__�
<br /> r� 11. R�qu�st fcv NoUc�of D�fault.It is hsreby requested that wpies of tho notices of dofault and sale bo sent to each poraon who le a party
<br /> • _;;�{ . hereto,at the addreas ot each such person,es sat 4orth hereln. _---
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<br /> ';•h•,x.; 12, Pow�r of Sde.If the Lender invokes the power of eale, the Truetee ahall first racord fn tho office of tho registor of doede�ot eaah caunty _
<br /> i'y.,
<br /> �;�. wherein the truat pr9perty ar some part or parcel thereof is situatod a notice of dofault contalnlnp the informallon roqufrod 6y law. The �iu4ee
<br /> ehell elso mefl coplas of the notice of defeult to the Borrower,to each person who is a pert}r hereto.and to othar peroona us prescribed by
<br /> � applicebte law. Not lesa than one month after the Truatoe racorda tho nntiao of dofauit or two montha if the trust ptoperty la not in any
<br /> Inaorpornted city or vfilepe end ie uaed in ferminp operatlone carrled on by tho truutor,tho fruatee ahall pive public notloe of sela to the porsons
<br /> 1�' end in the manner prescribed by apppiiceble law.Trustee,without demand on Borrowor,ahali sell tho property et publfa �uatfon to the hlgheat
<br /> � bidder.If required by the Ferm Homestead Proteation Act,Truatee ehnll oHer tho proporty In two separate salea as requirod by epplicable law.
<br /> Trustee mey poetpone sate of ell or any parcel of the proparty by publfo onnouncomont at tho timo and placo of any provlaunty cchadulod eaie.
<br /> Lender o►its deelgnee may putchaae the propany at any sele. _
<br /> � Upon recofpt of peyment of tho price bid,Trustee shell deliver to tho purchosor Tniateo'rt doed convoying tha property.Tho rnoitlale contained in
<br /> " 7ruatee's doed shall 6e prima facie evidience of tho truth of the etatomontn containod 4horein.7ruatoe shall epply tho proceeda uf tho sale In the
<br /> • followinq ordor: (a) to all uxpensea of the sale, inctudinp, but not limitnd to, rcasonnblo Truatee's tena, roasonobla� ettornay'R fees end
<br /> + � roinstatement fees;(b)to all sums secured by thla deod of tru�t,ond lc)tho bnlanaa,If any,to tho pvreons IoQaliy ontitlod ta r000ive it.
<br /> • 13.Fwtcloaur�.At Lender's option,th�a doed ot trust may be foreclooed in tho mnnnor provido by appiiCabte law for forooloaura of mort4eges
<br />_ _ , � on real property, �-"
<br />" ����� , 14.Intpoctlon. Lender mny enter the property to inspoct it If lendor givoe 6orrpwer notico botorehand.Tho notice mu�t etoto tho reasonable
<br /> cause for Lend9r's Inspeatlon.
<br /> � ��� � 16.Cond�mnation.Borrower a�siqns to Lender the eoceeda of eny ov+ard or claim for damn�gee conneotod with e condtimnption or othor teking
<br /> _ ' , of all or sny part of the property. Such proceeda wiP be applied es providod in Covonnnt 1.This assignment ia eubJoct to thn terma ot any ArEor
<br /> socurity opreement.
<br /> =� ` �.� 1B.Waiv�r.By exercieing eny remedy avaflabie to Lendar,Lendar dons not give up any rights to later use any othor rnmody. By not exorcising
<br /> . _ ' eay remady uporv Borrower'c dofuult,Lender 6oes not welve any riflht to�ator con�idar the event a default if it heppons agaln. �_�___.__
<br />-.a.. 17. Jdrrt �nd S�v�ral LlabNitv: Co•slpn�n: Succ�ssors and Atalpn� Bound. All dutioe undor this deed of trust aro �afnt and several. Any ;�,
<br /> Borrower �vho co•aigna this clood of truet but daos not co-elgn tho undorlyinp dobt Instrumontls) does so only ta grunt and convey thet .�
<br />�� '_.�~=�� � Borrower'e Interest In th9 proporty to the Truatee under the terma of thie dood of tmat.in addition,such a 9arrowor aprnoo that the Lender and ��.
<br /> eny other Uortowur under thla deed of trust may extond,modity or m�ke any othor chanpoe In tha terms of this daod af trunt or tho secured
<br />'�'� � . �,� debt without that Borrowor's consent and witfiaut releasing that Borrov�er irom tho termn of thla deed of trus4. � -- ^
<br /> '' � The dutioo end benefits of this deed of truat ehall bind end benofit tho ouacossora and uasigne of Londer and Borro�vor. ~
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<br /> • - � 18.Notice.Unloas othorwise required by low,eny notico to Borrower ehnll bo qtvon by dolivoring it or by mailinq it by cer:ified mall addreased to ..,.nr=—�_
<br /> Borrower et the property addresa or eny other eddress that 6orrower hus given to Londnr. Borrower wili give any notico tv Londer by aert(fied +
<br /> � mail to Lender's eddresa on pape 1 of thls deed of trust,or to any othot addrese which Lander hns desipnatnd.Any otNer notiae to Lendor shell _�'�::=m-
<br /> be sent to Londor's eddreae es stated on pago 1 ot thls deed of trust. • '�`"'^�"�'`
<br /> �.�w.__
<br /> ',.f�--
<br /> Any notice ahell be deemed to have been given to Borrower or Lundor whon fllvon in tho monnor stotod obovm. '••Y'�^"^`
<br /> �,�.. ..: .�-?r'
<br /> � ����� ;�,: 19.Tronef�r ot tfis Propsrty or�Be�»flcid Int�nat in th�Botrow�r.If all or eny part of tho property or ony intoroet in it iu sold or transferred - ,,..•._`:�"
<br /> "?:��"��:"��;;� without Lendor's prior writtan conaent, Lendor may demend immndlata paymont of the eacured debt. Lendor may also demand immediote ,
<br /> � � ,� payment If tho Borrower is not a netural porson ond e bunoficial Intorest in tho Borrower le eotd or trAnsferrod. H�owever, Lender may not ,
<br /> �:'Ji;',�`S,i d0mand paymont In the ebove sltuations if It Is prohibitod by fodoral Iew as of tho dote o4 this deed of truet. • ,
<br /> •`,..
<br /> •�.'''° 20.R�co�v�ysnc�. Whnn the obligatlon secured by thlo doed of truat ha& boon pald, and Landor has no furthor obligotion to moke edvances � •••
<br /> � ��f'•" undor the fnstrumente or agreementa secured by thls deed ot trust,tho 7rustee ahull, upon writton roquest b tho lnndqr, roconvay thn trust
<br /> �;;1-,�, p d
<br /> t� obltgatfon ao satisfied68o�rrowershalitpay any ecordntlone octe.er's succoaeor in intorest,the truat Noed and t e nom mr othor evidence of tho
<br /> -- - -�---- _ o• m.�..�..... T....�.. 1 o�vlor at I arular'e nntinm m�v rwmnva Truntpn nnd eDDDlt1t tl AUCCOR80► tI11StU11 L]V firat. mai!inn o CODV Of �}18 ---- �---- ---
<br /> � substitutlon ot trustee ae requirod by opplicnble law,end thon,bY fiilng tho aubotituiion of trustoa for rocord in tho offlco af the�egistor of daede -
<br /> of euch county In which tho trust propurty,or somo port thoraof, is situotad.Tho auccoasor trustee, without convuyance of tho property,shall
<br /> 5ucceed to all tho powor,dutios, authority nnd titlo of tho Trustoo numod fn tho dood of trust and of any succossor truotoo. �
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<br /> -- • OANKEflS SV6TEM5.iNC..ST.CLOUD.MN 60301 17�8Q0•39)�T3tt1 60RM OCP•AIT6�NE 0/1991 �
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