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<br /> „ COVBNANT6 9�0 ��� ., •:.:,V�`�.�..
<br /> 1. P�yment�. Qorrowor apraoe to meke all peymente on the eecured debt when due. Unlesa Borrower end Lender eprae otharwiae, any ��
<br /> poymonte Lender recelvoe from 9orrower or to�Borrower's benefit wlll be appllod firet to any emaunte 8orrowor owoe an tho aocuiod dobt
<br /> oxclwlva of Intoreat or prinr,lpal, second to Intoroat,and than to prinalpal. I}p�rtial propaymont of tho oocurod dobt occuro for ony roason, it will -
<br /> not�oduce or excua e►r�echedt.+l�'dpeYtnOMU�+�k�►� ured dobt la pald Infull. , , ,�
<br /> � .a � u� ��::JJ
<br /> 2.Cialm�A4dn�t�tle.Bbrrowe►�r I�pM{ep.t �, asa asmenta,end other cherpee ettrlbutabla to tho proporty when due and wili defend title • � ,
<br /> I to tlse prope►ty eqalpet eC,y ±��c„. {��(1 e tlen of thls deed of truot.Lender may requlre Borrower to aeslpn eny rlphte,claims or _
<br /> defencee whlch BorloweP m�f 1eeVe'M{�lNf��lerwn6,upply labor or materlate to improve or maintain the property. I
<br /> I 3. �n�unne�. Horrower will keep the propany in�ured under terme ascepteble to Lender et 8orrowar's expense and far Londer'e benofit. Ail �
<br /> � insurence pollclea ehail Includa e standard mortp efle clause in favor of Lender.Lander wfll be named as loas payeo or as tho Ineured on any such
<br /> , I inouranco policy.Any incuranco prococda mny bo cppllad, within l.nn�ier'e discretion, to either the reatorntion or ropair of tho dameped property `
<br /> or to the soCUrad debt.IY Lender requlre9 mortpape Inaarence,Borrower agroeo to melntaln such insuranca far as iong ea Lendar raqufres.
<br /> 4.Prop�tty.Bar►ower wlll koep the p►oporty in goo9 conditlon and make all repai�s reuaonably necessary. _
<br /> 6.Exp�ma.Borrower agrees to pay afl Lender's expenses,including roaeaneblo attorneys'fees,if Borrower broake ony covenants in thia doed . „
<br /> ' of trus4 or In any oblipotion sncured by thfa deed of trust. Borrowar wfll pay theso amounts to Londor ns provided in Covenant 9 of this deod of
<br /> trust. -
<br /> � 8. Pda S�eurity Int�nst�.Unlasa Borrower first obtaina Londer's written consent, Borrower will not make or permit any changes to any prior ' ,,:. �',�:�,�;. -
<br /> seaurity interoate. Borrower will perform ell of Bonawer's obtipations under any prior mortgage, daad of trust or othor security agreement, _ �...•s..r_.�"
<br /> includinp Botrower'e covenante to meke paymente when dve. , , ' ��'=`"�""�"��-
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<br /> 7.A��Ip�n»nt of R�nt�and Profits.Borrowor eseigns to Lender the rents and profits of tho property.Unloss Borrower and Lender hevo agreed �.iL,,_=__. �
<br /> • otherwise in writinp, Borrower may collect a�d retain the ronte as long as 6orrower is not in default. If t3orrower defaults, Lendor, Lender's .,,c.:_
<br /> agent, or a court appointed roceivor mgay take possession angd manago tho property and coiloct the rents. Any rents Lender collocts shall be ,__
<br /> `} nece�tesry rolat d oxponses f T�romai�lnhg omount of rents will then apply to paYments on the cncured debt as porovidod in�Covenan d'any other . 4,��,_�_ _
<br /> .. .___ �,,,..,�,,.,.�.....,.,�., w_„_ �na�p,,..�nts.Barrawer aaraee to complV with the ptovisions of any lease If this dsad of ttust Is on ��,�.��..�
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<br /> i I under the�covenante,by-lewe,�or repulatione of the condominlum or planned u t�d velopment nt, tsarro�var wul porform af{ut Borrower's dutlas �-,, --� -_-
<br /> � 9. Authorhy of L�nde to P�rform fa Bwrow�r.If Borrower fails to perform any of Borrower's dutiea under this deed of trust. Lender may , ..��:y;--
<br /> pe►form the dutiea or ceuse them to be performad. Lander mey sig�Borcower's name or pay any amount ii nccessary for parformanae. It eny ,.:,.
<br /> � construction on the proparty ia discontinued or not carded on in a reasonable manner, Londor may do whatover is e�ac�ssary to protect Lender's : ___
<br /> secudty interest In the propeny.7hla may inclucle completinp tha constmctfan. , F,;;;.
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<br /> � Lender's faituro to perform wfll not preclude Lendor from exercistng a�y of ite other rights under the law or this deed of tn�st. ���"' •••
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<br /> ��;4�'�•�' Any amounts pald by Lender to protect Lender's sea�rity tntereat wlll 6e secured by thls deed of trust.Such amounts will be due on demand :a�alt�Rs�
<br /> '��:i�� and wiil b6er interest from the date ot the payment until pald In fuil at the interest rato in eftect on the secured dobt. '`.fl.'�'�
<br /> c�'. 10. D�fautt�nd Acc�l�nUon. If Borrower fails to make eny payment when due or breaks eny covonants under this dood of uust or any
<br /> obllflatlon aecured by this deed of truat or eny prlor mortpepe or dAed of uust.Lender may accetera��bte lewurity of the secured debt and
<br /> � demand(mmediate payment end may invoke tha power of aole and a�y othar remedies permittad by app : ,
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<br /> . 11.Requ�at to►fdodc�of D�fwk.It is hereby repuested that copies of the notices of dofault and sale be sent to each person who ia a party ,'�� � '
<br /> ...ri_—. 1.e e • h oce n wnoh c��cb nnraoit.es set torth hereln. '-`� �
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<br /> � 12.Pow�r of S�l�.I(the Lender invokes the power of sale,the Trustee shall ffrat record In the office of the registKr of deeds of each county '� -
<br /> ` wherein the trust properry or some patt or parcel theruof i8 situated o notice of detault containfng the information roquired by law.The T►uatee ••'
<br /> ahali atso mail aopias oi the notice of default to the 8arrower,to each porson who is a party hereto, and to athor persona as preacribed by f,:_
<br /> � ± eppliceble taw. fVot less than one month after the Truatoe records the notir.e of defautt,or two month� if the irust property is not in any
<br /> � Incorporated city or village and is used in farming operations carrfed on by the truetor,the Trustee shal!pive public notico of sale to the persono
<br /> .,;�'•. N ond In the manner proscribed by appplicable taw.Truatee,without demend on Borrowor,shell sell tha property at public auctlon to the hiphest �,
<br /> ,,,: , , bidder.If required by the Farm Homoatoad Protectlon Act,Truetee shali otfer the property in two aeparate seles es required by appUcable lew.
<br /> <+•' •, � Truatee may postQone sale of all or any parcel of the property by publio announcement ut the timo end piace ot any previously scheduled sefe. , `
<br /> Lender or its designee moy purchese the property at any sale.
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<br /> Upon receipt of paymont of the price bid,Trusteo shall detivar to the purchaser Truotee's deed conveying the property.The recitiels conteinad in
<br /> Trustoe's tleed ahall be prima tacle evidience of 4ia truth ot the statements contafned therein.Trustee shall apply the proceeda of the sale In the
<br /> foltowirty order: (n) to all exponsen of the sele, inciuding, but not Iimited to, reasonebte Trustee's feea, reasonable attorney's feea and
<br /> reinstetemont fees;(b)to ail euma secured by this deed of Vust,and (cl the balance,tf any,to the persons Iegeliy entitied to rocetve It.
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<br /> � 13.Forecio:ur�.At Lendar's optlon,thia deed of trust may be forevlosed tn tho manner provide by applicable lew tor foreclosute of mortpapea �!';;u�
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<br /> on roal property.
<br /> " 14.Impwtlon. Le�der mey enter the property to ir�apoCt It if Lander flivos Borrowe►notice beforehand.Tho notfao must state the reasona e
<br /> ' cauae for 4ender's InapecHon.
<br />� 16.Con�emnatlon.Borrower easi9ns to ILunder the prxaeds of ony eward or ciaim for dameg es connocted with a condemnation or other takinp _
<br /> � of all or any part of tho property.Such proceeda will be eppllod as provided In Covenant 1.This essiDnment is subjeCt to the termo of eny prior
<br /> ' security eyreement. -
<br /> - 18.W�iwr.By exerciaing eny romody aveileble ro Lender,Lendor dae9 not give up�ny rights to ieter use any othor remedy.By not oxercieinp �<_: -
<br />°� . any romsdy upon Borrower's deteutt,Londer doaa�ot wefve eny rlpht to leter cona�dor the event e deteutt if It happane apai�. _ -
<br /> � 17.Jak►t rW S�v�nl lt�bWri• Catlpr»n:Sucasson �nd A�dpm Bound. All dutlea under thts deed of truat are Joint und several. Any �-°'��-
<br />" - Borrower who co•aipna this deed of bust but doea not co-sign the undedying dobt insuumentls) doea so only to grant end convey that �'_..
<br /> - '_�' Borrower'e tntereat in the property to tha Trusiee under the terme of thla deed of truat.In addition,such a Borrower agreea that the Lendor and
<br /> eny othet 8orrower under thla deed ot t�uat may oxtend, modify or meke eny other chanQea In tha terms of thia daed oi truet or the sacured {- _ _
<br /> , �j dobt without thet Borrower'e consent end w(thout releasing that Bonower from the terms oi thls daed of trust. �7�����_
<br /> • ' � '1'he dutioe end benefks oi thls deed of truat ehap bind end beneftt the auccessors end assigns of Lender end 8orrowor. � •.
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<br /> � j 18.NoUe�.Unieas othorwisa requitod by law, any notice to Borrower ehall be given by dolivering it or by mailing it by certifled mail addressod to ��' t,:.
<br /> } Borrower at the p►operty eddress or eny othar addreae thnt Borrower has qiven to Lender.Borro�ver will pive any notice to Lender by certffled ' 4__ .
<br /> � " mafl to Lender'o addresa on pape 1 07 ihie deed of trust,or to any other addrosa which Lender hes dosfgnated.Any other notice to Lender shall �-u��
<br />. ' � be�ent to Lender's eddress ea stated an pago 1 of thla deod of trusL �w ;,,�'�y�
<br /> • Any notice shatl be deemod to have bonn given to Borrower or Lender when iven in the manner stetod nbovo. ���
<br /> e c� >�•N,i�.`���;":
<br /> ' 19.Tr�mtK at th�Prop�rty or�B�flci�l Inte�st In tM Bortow�r.If al7 or any part of the property or any Intersst In It Is sold or Vanafertod ';•�:�',?� '�f
<br /> ' without Lsnder's prior written consont, Londcr maV domend Immodlate paymant of the secured debt. Lender may atso demand immediate �':«.'��-�.�f:.
<br /> demendtpteymem in theEabove situations�If fi is prohiblad by federal law as o}the dato of this doed�of t ust�sferred. Howevor, Lender may not � :�'+
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<br /> 20.8�conv�yanc+.When the oblipetion secured by this deed of t�ust has boon paid,end Londor has no further obligation to make advancos r":";�%'
<br /> undor the inatrumonts or egroemente secured by this doed of trust, tho Trustoo aholl,upon written request by thv Lender,roconvey the trust •� �
<br /> property.The Lender shall deliver to the Borrower, or tn Borrower's euccessor in Interest,the Vust deod ond tha nnte or 6ther evidonce of the ,
<br /> oblipetion so satisfiad.Borrower shall pay eny recordation coste. �
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<br />- - - � 21. 5ucc�sto► TntstM. Londer, et Lentler'6 o no�, mey remove �rustee ana eppomi e suc��aav� o�o.w ..� ...o., ..�o���.n, � •�••r. �• »�- - - -
<br /> subst�lutlon ot truatee as reGuired by appUcablo Paw, and thon,by filing the substitution ot wstee for record in the office of tho rogistor oi deede �•
<br /> of eech county in whfch the trust property,or some part thereot,Is situated. The euccossor trustee,without conveyance of tho proper:y,sheli
<br />_ � succeed ta e!1 tha power,duties,euthority end title of th�Trusteo namad in tho deod ot trust end of any succossor trustee. _ •-
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<br /> � _ BANIfER$6Y6TEA15.INC.6T.CIOUD.MN 66]0�It�OOO�S37�2��11�ORM OC�'•MT6�NL E�IB'91 ___ ____ .
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