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<br /> .. COVENANTS 97+� �;.:
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<br /> � 1. Peym�tttt. Barrower egreea to mako all peymenie on tha eecured debt who�duo. Unless Borrowor and Londer epil�n atmrvnon, nny '� i{.
<br /> ' paymoRtc Londor rocoivae irom Borrowur or for poirowor'3 bpnolit will bo opplied firet to nny nmounts Borrowflr oWfls on t)lp sot7urOd do6t ?;jr
<br /> � exClueive of interost or principei,a�CORL�!?!f!!°•°°!,_^A thnn in minrrina�.1/..anial DraDeyment of the eecurnd dAht nccura fo�nuv iaosan.it w�ll I '� ,r
<br /> ': " � uut r?duas or nxsuae an�eaohaAukd•Qayment uc�tiid2to soeurad dubt ts paid(n tulL {�` '�
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<br /> 2.Ci�ims A �I 'fitle." orro Yy�1 1�p 1��f�1'!�exos,[assessmente,and othar chorpes ettP�butpble to tho proporty whon d�:�and s.e�illd�tnnd siti'o �:. :
<br /> � to tha property�igafr�et[1r1yF� EVJh1�,t�4�puf�,l.atql�r tha lien otthis deed of trust. Londor may roquiro Borrower to assipn enp ri�7ht�+, clnimt�or � • - ` %'�
<br /> � • defenses which 8orrnwefr rtu �eIM15ti��erti4f��rho eupply lebor or meterlals to improve or mo:ntafn thc p�opert:�. ;;,•. ':;k,-
<br /> ' 3. Infurarsce.Borrower will keap the property insured under terms eccapteble to Lender et Borrower's expensa end for Landnr'e 6�noflt. All ;.�; t;,� - '
<br /> � insurance poiicios shali include n standard mortgage clause In favor of Londor.Lender will 6o namod as loss pflyon ur ae tho innur�A on ony cuch .:�. •��, ,
<br /> insurance polioy.Any insurance ptoceeda mey ba ap{tlied, with9n Lender's disr.retion,to eitlier the restoretion ur repa�r of thu durnapnd pro��arty �;�• . �,
<br /> or to tha cacured debt.If Lender requires mortgaffe Insurence,Borrower aqraea to maintain such insurence far as long es l.e+idur rr�qufrnn.
<br /> y.; �
<br /> -- 4.PrppaTSy.Ba7ro�Yar will krep tha property in good conditian and�akn all repalrs rossonably necessary. '' 'i;
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<br />- •r!`<,, 6.Expw�sss.Bpr�owor at►reos to pay ell�endar's expenses,Inciuding reasonable aTtameys�}Ofl6,it Borrowar broaks eny cm�nna�te in thln daed �,•i.
<br /> ��;�1•� •"}�,y of trust or in eny obliaation soaured hy this deed a7 truat. Borrower will pay thesa�mou�ll�to Lender as pro�lcic�d in Cnvannnt S of thin duod of ��,�
<br /> '`:� trust. ��
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<br /> � 8. Pr�a Socudty interub.Unles�Borrower firet obtalns LertdeYe writton consoni, Borrower will not meko or�ermit any nhnnp�c to nny ��Ior ;��t_t'y�_.
<br /> . aecurity intereste. 8orroyver will perform all of Borrower's obUgatione under eny prior mortgeg3, deod of trust�� otho� ::er.urity eQroortnont, :;��,._�._
<br /> , including Borrower'a covenants to make paymente when due. ::•?l=,w�_
<br /> 7.Aaip�mant of Rants�nd Proftti.gorrower assigns to Lender the rants and profite of the property.Urdaes Borrower and 6ond�u hnvo epraod ' � �� ��`�-�
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<br /> otherw s`e in writing, Bo�rower may collect and retein the rente es long es Horrower Is not In detault. If Botrnwer defnuilt�, I.ondar, Lundnr'a '��.• ._�,:
<br /> � epent,or e court eppolntad receivar mey teke poesesslon and menape the property ercd collect the rante.Any renta Londar valloato ehall bo ��. .,:�s�o_;_
<br /> pppBed firet to the costa of maneping the property, Includlrg court costs and attameys'feea, commfssions to ro�tel aprmto, nnA ony oiher ( �,,,;;,_
<br /> . neceanry rel�ted expensaa.The romelninp emount oi rents wfll then apply to peyme�it an the�ocured dobt es provided In G��ionont 1. f'� �-_
<br /> � �.L��twl�oldr Condomintum�:W�d Untt Dwdopm�nt�. Bcnrower aUreec to com tyv�ith tha pravi�Ions of nny lease lf tN�U doodo} truet io an �'�'•���-���_y�"`-«_
<br /> ■i��nfiold.I�tni�deed of trust Ir on a uni4ln o cand�minlum ar a planttad unit�telapment, Borro�er wlil perlarm e11 oP Fl�rrmwnr'e durl•a v.• __-
<br /> � und�r the cov�nsnt�,bylaws,o►royul�tions of tho condominlum or pl�m��d unit davefopment. y' _ _
<br /> " Y. AuNwttty of l�ndw to PwMrm fa larowN. If BorraMrar 4�u� to psrto►m�ny o}�orrower's dut{es und�r thla dnd,o}tniot,Lendnr may -��
<br /> � ' psrform the dutle�or cau:e them to be performed, Lender mey elgn 6errowor's name or pay eny amourt i}nscoasary ftrr p�rtnrmnnae.IP any �_
<br /> construction on ih�property�a diacontinusd or not cerrled on I��reRSOnable mmner,Lender may do whstover Ia nocess.m/ta p�otoot LenAar'e _= --
<br /> � 4�curiry intantt in tha property.Thl�may Inciude campbtinp tha conatruction. •.;K:.=.-
<br /> � Le�der'e teiluro to periorm wil!not prectudo Lender from exercising�fny of Its ather�iphts under the law or this dead of trunt. '• � r-
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<br /> .E: Any emountt peid by Lender to protect Lender's Recuriry interest will be aecured by thia deed of trust.Such emounte wi11 ha dua on dumand ��� . . ;
<br /> an d will bear Intarost trom the date of the payment untii paid In fu�at the inte►est rate In e Nect on t he secure d deb t. ,�• ` • - _
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<br /> 10. D�f�ult W►d AccN�ratlon. If Borrower feite to make any peyment when due or breaks eny covenants under thi�o dEiud ot truet or any �,.,. {,r� . ,
<br /> oblipatlon secured by thia deed of trust or eny prior mortgege a deed of trust, Lender may acceterate the maiurity nt thn coournd dabt and �,��;.-,•:t`, �,
<br /> • J demand immediate payment and mey Invoke tha power of sale and any other remediee permitted by appliCabie law. ,.�•; � _-
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<br /> _ 11.R�qu�st ta NoUc�of O�t�u1t.It is hereby requortad thst copies of tha nOtlCat Of L�!?L!L e[!d 9�le t+e Eant to eas�!�oreo� �vhn �e e pwrtY ,�,_jL.� ,.r'
<br /> .� �� , heroto,at the adtlress ot eacn sucn person,es sei iorcn horein. -�--
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<br /> � 12.Pow�►of 9*is.It tha Lender Invokea the power of sele,the Trustee shall iirat tecord in the office of the reglstar of dnnAt� af eoah county �
<br /> ti wherefn the trus2 praperty or some part or�arcel thereof is situeted e notice af defaWt contafning the information requhr�A hy lu�v.Tho Tnisico ' .
<br /> �. ahail alao meil coplea of the notice of default to the Horrower,to es�h person who is a party hereto, and to other prnr,onr aa proscri6ed by ti;;'-'t .
<br /> epplicable law. Not less than ono month aRer the Tmstee rewrds the notice of defauit, or two months if tha trust.pr�porty�e �ot In any '�{�:, � _
<br /> incorporoted city qr villege end is used in farminp nperations carrled on by the uustor,the Trustoe ehall give publiC notipfl of sola to tha perBOns ;�7..ti�
<br /> � end In the menner p�eacribed by appplfeable law.Trustee, without demand on Borroaror,ehail aoll the property et pu6ttn auotlon to tho hfflhest :�;; t'
<br /> i • � bidder.If roquired by the Ferm Homestead Protection Act, Trustee shell offer the property(n two aeparata sales es rnqulr�d by applEoeblo law. ''
<br /> Truatee may postpone eate of all or eny parcel of thn property by public ennouncement at tho timo end place of any�irpvinuf.l�� schoduled eate. ft � .
<br /> Lende�or it�dssipnee msy purchase the property et eny sate. .f
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<br /> ' Upon receipt of peyment of the price bid,Trustee shail detiver iotha purchase►Trustoe's deed conveying the property:.Tl�o rooitf�l�contained In ���!�
<br /> , Tru�tea's deed ahall be prfma facle ovidience of the truth of the atetements contatned thereio.Trustee shali appiy the pmcflods of tho sale(n the {`,}."a;`�� --
<br /> - r tollowing order. (a) to all expenses of the sete, Inciudinp, but not limtt�rd to, �oasona6lo Trustee's fees, reasonnhlni ottm�oy's fnos and �;r.�.:•--_-
<br /> • � ;� reinatetement fees;(b)to all sums secured by this deed of trust,and tc)the balenca,If e�y,to the persons lepally entiUpd to roeoivo It. _'_=-
<br /> �� 93.For�clowr�.At bender's option,thls deed oi trust mey ba faeclosed in the manner provide by epplicable law fot forr�olaEUra of mort9ages '����
<br />- . on reN property. ----_
<br />- �,� 14.In�p�ction. Lendor may enter the property to inspect h t} Lender gtveo Borcovver mntice be}orehand. The notice cnu�t stato tM�oasone0le �`'1�=:-
<br /> • �� • • � cause for Lender'e inspection. �
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<br /> :' ' 16.Con�rr!n�don.Borrower essigns to Lender the roceede of eny award or claim fa dameges connected with a conctemnntion a other takinp �`.!t'�--
<br /> . '� '�.� �; of ell or eny part ot the property.&uch proceede wiP be epplied�s proWded in Coven�nt 1.7hla asalgnment la subjetrt to th[+tormo of eny prbr ���=
<br /> ;� ,.�!�.,, socurity aproement. ���-_
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<br /> - � '��r� 18.W�iva.By exerafsfng any remedV evaflable to Lender, Lender does not give up any riphts to later uso enV other rRma�dy.Bt�not exorclsing ��-_---�—_-_
<br /> :�� !,.�, eny remedy upon Borrower s dofeutt,Lender does not watve enyright to laYer consider the event a defeult If It happem:opain.
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<br /> - _ 1i. Jotot and Sw�rr Ll�bl�y Co•slynm: Succ�ason �nd Aaipn� Bound.All dutles under thfo deed oi truat esn jni�t end soveral. Any : ,•-�
<br /> �� � � Borrower wha caslpns this deed of trust but does not co-sipn tho underlying debt lnstrumentle! doee so only t� grunt and convey that 'i?_'�
<br />- � � • Borrower's Intereat in the property to the T�ustee under the terme of this deod of t�ust. In addition,such a dorrower a�rona thot the l.ender end ;'• _
<br /> ? eny ather Barrower under th is dee d o f trust may extend, modify o►make eny other changea in the tarms of thia dee:l of ttu�t a tho eec�crod '�-
<br /> � debt without that Borrower'e consent end without releastng that Eorrower from the terms of thle deed of trust. c.'==,�
<br /> r�' � �' The duties and benefits of thfs deed of trust shall bind end benefit the successors end essigns oi Lender end Borrowea f��' �'� -
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<br /> ����. ; 18.Notic�.Unlosa otherwise required by law,any notice to Borrower shall he givon by delivoring it or by malling it by ctatitioA mnil eddrossad to i;r' �"= =�=�--- =
<br /> -'�Y� ' Borrower et the property eddross or any other addreae thai Borrower has qiven to Lender.Borrower will glve any notin�to Lender by cort�fled � y'!�s�„__��
<br />�` �� meil to leixlet's address on page 1 of this deed of truat,or to any other addroas which LanJer has designated.Any othto notice to Lflndar aha1P -- �`F:`-"T
<br /> - be sent to Lender'e eddreae ns eteted on page t nf thle dead of wst. �,'�,-rF�r:�����'��.
<br /> ' � Any nosice shall be deemed to have been gtven to Borrower or Lender when pivan in the man�er otated abovo. ---- ''"��'�`�N"'K:°:'.".�"
<br />_ ., {.. ." , .,._:+.+i�T k°'.ar'�..
<br /> 19.Tnnihr of th�Prop�rty or a B�n�ftctal tnt�nst in ths 8orrow�r.It all or any pen of the proparty or eny intorest In it la eoleJ or tronsferrad "-Yu�•���.
<br /> • without Londer's pricr wr(tten consent, Lender may demand Immedlaie paymant of tho securod debt. Lender may al.to dumand immodiate �• ���•:�.r<•�,
<br /> � � paymon4 If the Borrower la not e neturel person end a beneficial Interest in tho Borrower ie soid or transferrod. HouveNLr, Lendor moy not � ',''"'�''��'�'IA
<br /> ' demend payment In the ebove eituations If it le prohibited by fed�rei Iaw an of the date ot thle deed of trust. '�" „ :' ��}�!n
<br /> 20.R�conwy�nc�. When the obligetion secured by thle deod of trust hae boon pald,and Lender has no further obligatton ta moko ndvancaa , • �--r� �:,_
<br /> u�tider the Insuumente or agreements secured by thfs doed of trust,the Trustee shell, upon written request bV the Lender,rocnnvoy tho truat � � _ „
<br /> property.The Lender ehell detfver to the Borrower,or to Borrower's successer In intorast,tho trust deed and tha noto or oth�r avidunco of tho
<br /> — ____ _� obBpetlon eo eatisfiod.Borrower s:�ell pay any recordation coste. ` ��
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<br /> 1 21. Succator Trusta. Lender, et Lendor's aption, mey remove Trustee and appoint e succoseur trustae by Iirst. mafiinn o copy nf fn� __ „ �
<br /> subatitutlon of trueteo as required by applicable law,miJ tiien, byfiling thu substltution ot trustee for record in the office of tho 7opistor of doad2 � .
<br /> , � of oech county In which tlie trust proporty,or some part thereof,is sftuatod.The succoasor trustse, without conveyance of th�,proporty, ohali �
<br /> succeed to ali the power,dutles,autharity and tttie of the Trustee namod in tho duod of trust nnd ot eny suecosoor trustoe.
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<br /> � 9ANKEf15 SYSTEMS.INC..ST.C60U0.MN 66301 ILBUO•397•23N1 FORtA OCP-MiGNE 611991 ��.' . -
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