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<br /> CBV�NANTB 9'',,,� 'lo���
<br /> 1. Paym�ntY. Dorrowor nprooa to mako all poymontc on tho cocurod dnbt whnn duo. Untaee Uonowor nnd Lnndor n{�rno ot enro�ao. any
<br /> paymont:q Landor rncolvoe from Borrower or�o� Dorrowor's benolit wfll bo app��od t�rnt to any amrnintn Oorrownr owos c�n ih� r,ecurnd d9�.�t
<br /> exctutiva of Interest or prinCfpel,eotond to Interoat,and thon to principul.If partial propnymnnt oi thn nocur4d dobt occure farany rnuson,it wr.t
<br /> not reduce or excuoe ny eCheduiad paymant untll the aecurod dobt fs peld in tull. _
<br /> Z.C�Nms Ap�n�t TIN . Barower wlll pay ell taxee,assra�ments, and othor charpee ettributoblo to th�proporty when duo a�d wlfl datond t�tlt� . �
<br /> to the prvPs►�y e�g��ns any C���ms wiUctt would impi�r the��e�labor o�r met nela to fmpr�ovo oivmnin�tein�thqrproportyp881Qn �ny r�phtn. cloima or _
<br /> defentes�vhlch Borro er maylh+w�palnst Q�����^!hP.��P y �
<br /> 3.Imuroxo• Borr�wor will ltoop tfio pf�P�rty insured undo�torms nccoptabla to Londor et Borrowor'o oxponno and for lendr�r'o bannfii� hll
<br /> insurence pollcysAny Iniurance pr ceeds mey�e epplied�withln Lender's discretlonr t���hhar tho reatoretion�o�rapuir�ot thadn�nepod pron�rt��
<br /> or to the eecured debt.If Lender requlres mortpafle Insurence,Borrower apreea to meintoi�such Insurence for ae lanp ns Lenda roquvna.
<br /> ` �,prppsriy,Borrower will keep the property in good condition end makn ell ropoite roasonably noc�seary. , .
<br /> 6,Facp�nt�t.Borrower agreos to pay all Londer's expenses, including roasonabte attornoyo'feoe,if Dorrowor breeke ony covenna�tn in thl.t,dzmA
<br /> of trust or in eny ohligation oecurod by thla deed ot trust.Borrower will pay those amounte to landar ns providod in Coven ant B o1 thls dci�d af _
<br /> � trust.
<br /> 6oculri� Snta esis!�Bo�otwei�wil per�furm alltiof t8oriower�s nobligetions eunder eny�pr or�mortflapo�dood of trust ror��other cnecurlty afl nmm�ntT - `
<br /> ,r •2;:"��•.
<br /> inciuding Borrower's covenents to meke peymente when duo. W �� •
<br /> 7,quly�nn»nt op bionts and Profits.Borrower assigns to Londor the ronte and profita of tho proporty.Unlosa Borrowor and Lendor havo opmnd :•;;lt��
<br /> othervnse in writing, Borrower may coilect and retatn the rents as long ae Borrower is nnt in dofault. If Borrower dotnults,Lmndnv, Lnnd[rt'c� ,�:
<br /> egent or e court appointed roceiver may take passession end maoage tho proporty end colloct tho ronts. Any ronts Londor calloatn ahnll 1iu 4�i�;�.
<br /> appiied f'ast to the coste of managmg the property, including court coats and attornoya' feus, commissions to rontal ogeds, ond unp othpr „ ;x��.�,,,,�,,,,;..,,,,;�
<br /> 'I I to n ments on the securod dabt as provided In Covo�t�nt 7. • �,.-___
<br /> necessary related expensea.The ramaining amount of rente wil thon app y p Y ; .�+�;,:_,,,,,s�
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<br /> 8.L�u�tatdr Condomir�ums;Wsnn�d Unk D�v�lopm�nt�• Borrower agrooc to comply with tho provir,fans of any loaso if thledamd of mist fe�on ; __
<br /> a leaaetw�d. il this deed of trust is on a uNt in a condominium or a�7anned un(t devolopmont, Borrowor will portorm all ol8orrq�voYe dutinr i��-
<br /> underthe covenants,Ay-laws,or repuletione of the condominium or pitmned unit development. `:1�. _
<br /> 9. Auttsority of L�nda to P�rtom►for Bortow�r.�f Borrowor fails to parform any of Barrowor's dutioa under this dood ol ttuat, Land[�r mn�� ���`
<br /> perforrt�the duties or causo thom to be pe►formed. Lendar may si8n Dorrowar's name or pay any amount if nocossary fw►Perfarmn�rr. It enp , �
<br /> constraxtion an the property Is discontinued or not carried on in a reasonable manner,Lender muy do whntever fs necassaey to protnat Lmnd<ir'u ,,,.�
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<br /> securittj intorest In the property.This may include completing the construction. ` !,�: —_.�
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<br /> Lender's failuro to perfarm wfll not proclude Lender from exarcising anY of ita other rfghts undur tho lav�or this dood of trust. �t;ti+j,i
<br /> A�y amounte paid by Lender to protact Lender'e security tnteroat will be sacurad by this doed of truat.Such amounte will bo dufl on dcimnnd
<br /> �, and witl bear interest from the dete of the paYment until paid in full at thu intoroat rato in aHect on tho secured dabt. ��,``'�� f
<br /> 10.D�trult nd Acc�l�ndon. If Borrower fails to make any payment whon duo or broaks eny covennnts under this dead of trurt or ony
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<br /> ' obligation secured by this deed of trust or eny prlor mortgage or deod of trust, Lendor mey ecculorate Me meturity of the s�auqd dt�bt snd
<br /> � demand Immediate peyment end may invoke the powor of saia and eny othor remodiea parmitted by opplicnble law. ,,; �
<br /> . 17.Rsqwatfo►Nodc�of Q�fauk.It is hereby requesteu that copies oi ii�o���ticae�i Cc`anl:ar���!s�s°_°S!t en warh r�rroor wha is n aortv _-
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<br /> hereto, et the addreas of each such person,as sot forth herein. �„_; y,:• ,
<br /> '` 1Z,Pmw�r of SY�.If the Lender invokea the power of sele,the Trustee shell firot record in tho office of the�oglsto�of deedo of oaah county 1 ;.
<br /> where[n the ttust propeny or some part or patcel thereof is eituated e notiCe of dofault contalninp tho informntian requiru�by IFiw.Thn Tnisteo ti_
<br /> eroto, and to other eruons as prnaoribod lov :
<br /> shall also�neil copies of the notice of defauit to the Borrower, to oach poreon who is a parry h P ., ,
<br /> - � applicable law. Not leca than one month afcer the Trustee recotds tho notico of default, or rivo montha if the trust prapevty iF not in ony
<br /> ' .t incorparated city or viitepe and is usedieable aiw Trusteie�wfthaut rlamendh n Borrower�hall sell t elproperty 1at publip_aucci�a�n tatthn hlghest `� "
<br /> , s and In the manner presaibed by appp r
<br /> k bidder_It required by the Farm Homestoad Prote�tion Act, Trustee ublla announcomoni ai tho Umo and plece�oUS anyrprov►ousby�acNpnduled sa o. ��:',�
<br /> Truatae may postpone aete of ell or any percel of the property bY P j;',
<br /> � Lender or ite desiqnee mey purchase the proporty et any sale.
<br /> � Upon receipt of peym ent of the price bid,Trustee sheli delivor to the purchaser Truatee'o docsd conveyinp tho property.Tl�o roaitlnl�•r.antained tn
<br /> Trustse's deed shall be prime facfe ovidience of the truth of the statomonte containpd thoraln.Trustee chnil apply tho proceodo ot thr salo In the _ _
<br /> folbwinp order. (al to ell expenses of the sale, including, but not limitod to, reasonublo Trusteo's fees, reasonAbl�attomoy'p fees end .�.___
<br /> reinstatemant fees;(b1 to all sums sacurod by this deed of trust,and(c►the buianco,if any,to ths�porsons legelly entitled to ro�2irA it. +t.
<br /> 13.Fonclowr�.At Leoder's optfon,this deed of trust may bo foroclosed in tho manner provide by applicabie law for faredoEUrn at mort9aflos �j "' y+�i�
<br /> � o�real property. � �----_
<br /> �� t• t4.Irssp�otlo�•Lander may enter the property to inspect it if Londet gives Borrowor �otico 6e4orahand. Tho notfce mus•t stertn tho reasonablo ry,;_-
<br /> cause for Lender's inspectfon. ----
<br /> �6,C�mNrtnation,Florrower asslgna to Lender the rxeeda of any award or claim for damagos connoctod with a condo•rnncKnn or othor 4akin8 =
<br /> � oi ell �r eny part ot tha property.5uch proceeds wiP be oppliod es providod in Covonont 7.7his esaignment is subJoct ta the t:n�ms of eny prior ___
<br /> security agreement. �``
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<br /> � 78.W�Iv�r.By exercising any remedV evaflable tu �ender,Londor doos not give u�any riphts to latar use any othev romrd��� By not exercising "�����+�-�
<br /> eny rBmedy upon Borrower's defeult,Lender dues not waive uny ripht to lator cons dor tho ovent a dafauit if It happent a�c!n, _
<br /> ' �, 77,ddnt �nd Swor�l Uabilit�/: Casign�n: Succ�ssas �nd Aastyn� Bound. Ail dutfea undor this deed of trust aro jo�� end soveral. Any �M
<br /> Borrower who co•signa thla doed o�1 ttust but does not co•sign tha undoriying dobt Instrumentls) does so on�y ta groit and convoy that .
<br /> Borrower's intereat in the praperty to the Trustee undor tho tormc of this daed of irust.In additton,such o Bortower egresa�tnat tho Lender and �,��.'�j{ti,t:
<br /> any other Borrower under this deed of trust may extend, modHv or make eny other changoe fn tho terms of thu decd ot trust or tho secured ; y `��1�...
<br /> � debt withaut thot Borrower's consent and wfthout releesin8 that Borrower from the te►ms of this doed of trus4.
<br /> ••,�., :°"'� r',�.�.+;_'
<br /> The duties and benefits of thls deed of trust shail bind and bonetit the succossors nnd ossiBno of Lender and Borrow.nr. �`;^;ir' ..-;,�
<br /> ' r,�� �^.�y..,:�
<br /> 7 8.Notics.Uniess othorvvise raquired by lew,any notico to Borrowor shali bo given by deUvering it or by mailing{t by c�..�-tUltt! meil addressod to ;',.,_+�;�„�� __ , ,
<br /> BoROwer at the property uddress or any other eddross thot Borrower hus given to Lendor.Borrowcr will g'ive ony notii:�w L�ndor by certifiod ,... „
<br /> � be sent to Lendsre eddre:s as stat dfonip ge8d of thls doerd of trustthor atldruss whieh Londor hus dosignatod.Any otlt�Pnotico to Lendor shall ;e'.},; . . *
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<br /> Any rwtice ahall be deomed to have been piven to Borrower or Lender when givon In thu monnor stated abovo.
<br /> 79.T►�nsfK o4 tN�Prop�rty or�B�fl��al �ntx�st In the Borrow�r.It aIi or eny pnrt ot mo proporty or any irttoroat Ira ftls sold or lranefsvred
<br /> without Lender's prior written consont, Lender moy domend immadieta poymont of tho securod dobt. Lender may �Iso domond immodiato
<br /> payrnent if the Bonower is not a natural poteon and a bonefiCint intoroet in tho Borrowor is sold or transforrod. Npwevor, Lendor may not
<br /> ' L;•._ demand paymont in tho ebove situetions If it is Drohibitod by fodoral law os of tho dato af thla dood at trust.
<br /> � 20�R�C011WYaRC�. Whan tfio obligation securod by this doed of trust has boun puid,and Londor has no furthtv obi�ation to moke odvancos
<br /> , � ..� undar tho Instruments or agreements secured by thia doed of truet, tho Truatoo ahall,upon written roquest by tha W1�d¢r, raconvuy tho trust
<br /> ._._ .v�mr. Thc Lendcr ahell deliver to the Borrower, or ta Bon•owor'c succossor in intorost, tho trust dned ond tha no�o or other ovidonce of tho
<br /> _____ __..,.; � ., _ . �
<br /> oblip aUon 6o satisfled.Borrower shall pey eny recordacion�oaio. - - '
<br /> 21. `Succ�ssor Trust�a. Lender, et Londor's optlon, may�amove Truotoo and appolnt a auccossor trustoo by 1ircS, moilinp a copy of tho
<br /> substdution of trustee as roquitad by applicablu law,ond thon,by filinp tho substitution of tructoo for rocord in tha o111x:,ol tho ro psto�r tydoede
<br /> s c eed to all Lhe power tdutiessauthoiry und title oft ho Trust e namodln�tho doed of truatro d of any�suCCOSSUr�trusteo of tho ro or Bhall „
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<br /> � BANKEiI$SYSTEMS.WC..ST ClOUD.MN 68301 11-800-797•23411 FORM OCP MT6 NE 6�1997 _ _ __ . -�
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