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<br /> , COVE[VANTS ��°° ���BD� � �; -
<br /> � t, Peyme�. Bor►ower agrees to make all ayments on the secured debt when due. Unless Bo*�ower and Lender agree otherwise, any
<br /> exc�usnre pt iMe est or princiAal,sertcond t°f�oe G��d then pr a�pai.bf paprUp'al prepayment of the s wet!d bt accurs for any reasona'rt w 11 �' �..
<br /> not�educe at exCUSe any schedulBd payment untii tha secured debt�s paid in full_
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<br /> 2,palm9 AgsiASt Titto.6ortower will{saY ail ta�ces.assessments,and other cha�ges atvibutabte to the property when due and wdl defend titte
<br />�- . tp the property e ainst any claims whiah woutd impa'u the lien oa�o���to`mp oev8 oi m ou�tainBthe WQDertY�s�an anY riShts,daims or
<br /> defenses wtu�eh�nrrower may have ag�inst partiea v+ho suDpN - -:
<br /> 3,tnmaanr,e,gonpwer wdl heep the proparty irswed under terms acceptabfa to Lereder at Bonowe►'s e�cpense a�d tor Lenders henefit.Aft - .
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<br /> insurance Doticies sha0 mclude a standard mortgage c�ause in favor of Lender.Lender w�ll be named as Ioss payee w as the insured on any such
<br /> irssu�ance po1ic11•Any insu�ence proceeds meY bs aAp�'�•W���n Lender's discretion,to either the restoration ar repa�r of the damaged property r
<br /> or to tBe secured debt.If Lender requires mortgage��surance.Bortower agrees to maintain such insurance for as long as Lender requires. .
<br />. , , � 4.�yorty.Bortower wi1l keep the property in good condition a�d malce a11 rePairs reaso�abty necessary. - .
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<br /> • � 5,Exaonsea.Bonower agrees to pay a11 Lender's expertses,induding reasonabte attomeys'faes,if Borcower hreaks any covenanis in this deed _
<br /> ' o?tsust ot�n any obtigation seaued W this deed ot trust.Borrower mnll pay these amourAS to Lender as provided in Covenant 9 of this deed of
<br /> trust.
<br /> ' 6.PrfOr Secuatty hfteresb.Un}ess Borrower first obtaicts Lender's Nrritten corcseM.Borrower wifl noi make or permit any c1�an9es to aay Drior
<br /> ' n�ct d g Sono er s cavenant to mak paymems whsn dua.bligations under any prior mortga9e.deed of trust or other searrty agreeme:ii.
<br /> � �,q�ai�er¢wr�t of Re�us and Pmfrta.Bonower assigns to Lender ths rerns and Profrts of the praperry•Untess Borcower and lenQer hava a�ee� c;:,
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<br /> ,.� othe�wn4e i�wnbrg. Borrower may co!teet.aad reiDin the rems as long as Horrower is not in defauR.IT Bonower defaufts,lender, Lender's ,_..- ,
<br /> agent.or a court ayportrted reeeiver may talce possession and manage the property and co��ect ffie►e►rts•Any rerrts Lendar co!lacts s!tai�be �F;. �,s .
<br /> applied Cvst to the costs of managin9 tt�e G.roperty,inc�udiny court coss a�d attomeys' fees, wmmissions to rerttal agents, and atty othar �: �
<br /> � y'. i neaessarY�e►ated exAenses.The rema�r.mg a.�::nt of reMS�nn�f then appt�:o payments on the seared debt as provided in Covenam t. r,rsr�c:
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<br /> c � g_legsgfiptds•ConQom(niums;Plarmsd Unit Oevelopmar�b:Bortower agrees to compty with the Drovisions of any lease it this deed of trust is on . . ,[
<br /> a teasehold.(f this deed of trust is on a unit in a condommium or a planneti unit development, Bortower will pertorm all of Borrawer's duties
<br /> ; u�der the covenaMS,by-taws,or regulations of the cor.�cc.�vum or planned unit development. � -
<br /> '� 9. �►udiofity of Lender to Perfam tar Borrovtr�. If B:.srower faits to ua'�a��Y of Borrower's duties under tAis dee oot��t-e fnRde�frr�ra�Y
<br /> _ ;j� , perform the dudes or cause them to be perfa.�med.Lender may sign S�rawe►'s name or pay any amour►t'rf necessary p Y � 4
<br /> � � consWCtia^.an the property is discontinuec3 x'not carried on in a reasvcralu!t manner,Lender may do whatever is necessary to protecr�t Lertders . `
<br /> . � securilY i�in the prape►ty.This may i:r�7ude compteting the ca:�stna-�n. ... �. ;.,
<br /> ,� Lendefs taii�.ve to perform will not preclude Lender irom exercising any of its other righis w�der tfie law or this deed of trust.
<br /> � � AnV amourrts paid by Leader to Drotect Lender's security interest witl be secured by this deed of mut.Such amouots will be due on demand � , , j��''.:
<br /> •, �,;q, ` ! and will bear interest trom the date of tha�yment until paid in tull at the interest rate in effect on the secu_•ed debL
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<br /> 1 0. D e f a u t t m i d A c e e l e r e tl o n. I f B o r r o w a:f a il s t o m a k e a n y p a V m e r rt w h e n d u e o r br e aks an y covananu under ttus deed of tras!or any '` ..;y�r'�;f.:.
<br /> ;. _ . �, i pbligatian searted by this deed of mst o�aay prior mortgage or deed of trust, Lender may acce�erate the maturiry o f t he seaure d d a b t a n d `.�?i-�}`-.?i..•
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<br /> � Qemand�mmediate payment and may invotr�the power of sate and any other remedies petmitted by applicabte law• .��-�:�;;.v�,,
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<br /> 11.Request tor 11lotiee of Detm�lt�t is hereby requested that copies o f t he notices of defauk and sale be sent to eaah person who is a party � °;•,;::a��,:
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<br /> � ,` . hereto,at the address of each such persan,as set forth hareio. ,,.;4.:•�{t!}��;..
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<br /> �� �� -� 12,Powres c3 Sate.If the Lender inwkes the power of sale,the Tnutea shail first reeord in the office of tha register of deeds ot eash countll �'�.��rf;��:;�
<br /> �,��` � wherein tt2 trust propertV or some part�parcel thareot is situated a natice of default containing tha information require0 by law.The Trustee � .�--,��r'E�
<br /> • ehall also ma�copies of the notice of dafault to the Boaower,to eaah parcon who is a party hereto,and to other peraons as prescribed by " ;i:,�•:;
<br /> ' applipbls taw.Not tess than one montfi afte�the Trustoe records the nodce of defaulL or two moMhs if the trust propetty is nat in a�y .. •
<br /> r incorporated crty or viftage and is used in farming operations canied on hy ihe Vustor,the Tntstee sfiotl give pubtiC nMice ot 6a18 to the persons ,
<br />.:�i�:i: ' � and in the manner pres�rrb�3 by appplicable taw.Tnistee,without demartd on Bottnwrx,shatt sell tha property at pubt:a auation m the highest ;?A
<br /> ' � bidder.If required by the Fann Homestead Protection Act.Ttustea sfia1S offer th9 P:npe►N in:two separate sates as.reqt��ad bV apptiaebte 18w.. .,
<br /> `� � . Ttustee may Da�ne sate ot aIl or any paseef of the pro��ty by puhlle snnattncamwrt at the ttms and ptaco of any pruv(ausly scheduled�sal�.- . '{�
<br /> ;, ;;'.!`iN+,-;: , Lender ar its des�gnee may purchase the prsDeRy at any sa}a. = - - .
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<br /> � - Upon receipt of payment of the price b w,Trustee shall detiver to the puccttaser Trustoe's deed convoying th8 A►o the roeeeds of the s�ale in the
<br /> ' Tnutee's deed shalt be prima faae ev�d�e��of the truth ot the atateme.-�ts wntained th9roin.Truttoe sttal�•app Y P
<br /> 1 following otder: (a) to all exflr'sses nf tha sala, indad�ng, but not limited to, reasanaLs T[ustne's fees, reasonable attor�ey's fees and .: ��-
<br /> ' reinstetement fees;Ib)to att s:�:ns secuzed by this dee�o�uust,and lc)the balaace,if any,to the persons legalty e�titled to receive it. � :.
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<br /> '•: 73.Foredosu[e.At Lendefs o�tion,t►+:s daed ot trust may be forectosed in Me manner provide by applicable law for foreclosure of mortgages
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<br /> `5 .. . . on wal property. . _-
<br /> � . � 74.Inapeedon.Lenaer may enter the property to inspect it if Le�de�g�U�s Borrower notice beforahand.The notice must state the reasonabte , . , •`
<br />. �:t; . ' • . � � C3use for Lender's inspection. ....'�*.
<br /> -_��; ? t5.Condamnadon.Borrow�r assigns to Lender tfie roaaa9s of any a+na:d or ctaim tar damages eonnected with a condemnation or other taking . ..,
<br />;;;;, ' ' ' of all or any part o!the prcpe►tY•Such proceeda wiP be a�3sed as provrQed in Coven3rrt 1.This assignment is subjeax w the terma of any prior _ .
<br /> °:i� security agreeme�� ��
<br /> '�'��. � ��'. ' � 16.Wafve�.By exercising any reme�y availabfe to Lender,Lender Ca�n�t give u any righta to later use anV other remedy.BY r.4t exercising :�+��1�t,:-
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<br /> . � � ' � i any remedy u0on Borrower's default,Lendsr does not waive any Nght to latar consider the event e Qetaulf if it happens again. :,r:�t,,�..� ;
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<br /> .��. � � 77.Joint and SeverN UabNri:Co-slgrtars: Sueeeasoro and Aasign�Bound. Atl duties unQer this daed ot uust are joint and seraral. Any
<br /> •.;�� , S Borrower who co-signs this deed of trust but daes not eo-sign the undertying debt instrumentls)does so only to grant end convey that
<br /> � Bortower's interest i�the property to the Trustee under tna tetms ot tfiis deed of ttust.In addition,sucF►a Borrower agrees that the Lender and •
<br /> :�,,, �- ' a�y other BoROwer unQer thia deed of trust may extenA,modify or make any other chang�ea in the terms of this deed oi trust or the secured . .
<br /> debt without that Borrower's consent ar.d without releasing that Borrowar hom tfie terms of this deed of trust.
<br /> �': ' The d�_-�and benefits of this Ceed o:xrL�s shall bind and benefit thz suc;essora and assigns oi lenCer and Borrower. .
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<br /> �•� 18.NoUce.Unless otherwise required by law,eny notice to Bortower shal!be given by detivering it or by mailing it by certifled mai:a�dressed to ,
<br /> s••c Borrower at the pro�er:y ar'dresa or arry other address that Bonower has gIven to Lender.Bor�ower w�t!g'rve eny notice to Lender by certifled
<br />-`��`���: ' mail to Lender's address c�page t of thls deed of trust,or to any other address w1��tr+Lender has desig�ated.Any other notice to Lender shal)
<br />,:���;;r�: � ' � ' be sent to Lende�s address as atate0 on page 1 of ths 2�ot trust. �
<br /> ;,.�� �� Any noti7t ssatl 6e deemed to have beec•q�+�e�to Bottower or Lendzr vut�2:�given in the manner stated above. ••,,•�.
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<br /> � 19.Trans�of tho�raparty or a Bor.al5�ad��tarost tn the Bonower.it at+or any part ot the property or any interest m it is sold o•t�ansfarred �,�,:: �
<br /> ••?�� � wiihout Leader's prior uvriiten conser,-., :.e.�.er may demanA immed�a2e paymont of the seeured debt. Lender may atso demand immediate ,
<br /> , • . payment if the Bonows � not a na!:irat person ar.d a benoficiat intorest In the Borrower is sotd or transferred. Nowever, Lender may not
<br /> �"��; demand payment in the al�ave situations if it is pro��C�t�ct by tederal law as of the date of this deed of trust.
<br /> '�1'. � 20.ReeomroYaneo.Whert the obligation secured Dy tn:s deed of trust has been paid,and Lender has no furtAer obt.�ation to make advances .
<br /> under the insVuments or agreements seu.�red by this dead of uust,the Trustee shall,upon written request by the Lender,reeonvey the bust t ,
<br /> �'i property.The Leode►shall deliver to the Borrovrer,or to Bonower's successo►in ioterest,tfie trust deed and the note or otAer ev:dence of the �
<br /> • obtigation so satisfied.Borrower ahatl pay any recordatian costs. � �
<br />- � 21.Suesessor TrusLle. Lender, at lender's option, may remove Trustee and appoint a successor trustee by fitst, mailing a copy o} the t
<br /> substitution o}trustee as�equire0 by appticaDte taw,and 1hen,by filing tfie substitution of trustee tor record in the office of the register of deeds E
<br /> � ot each county in which the trust property,or some part thereot,is situated. The suceessor t►ustee,without eonveyance of ihe p�operty,shall �
<br /> ) succeed to all the powet,duties,authonty and t�tte ot the Trustea namod in the deed ot trust and of any successor trustee. f
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<br />� �� � 9/WKEflS SVSTEMS.�HC.ST CIOUD.MN 5830�il 804 397 23�1i FORM OCP MTGNE 8��9nJ� . '� . �
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