|
�� .
<br /> ,
<br /> „
<br /> .�,.. .; , ___ _
<br /> <. _ ..�,l�M:.tI161�9�y�.. .. . � -��
<br /> � , . �Y.w�rJ"Qii.�vno.M� . . ,r, _. • . . . . . . . . .... �� . . .. .. . .............�...�.11ro�n!Sl1�!-'.-�.
<br /> '.N
<br /> ... .. . :r•
<br />�:,`"ry' ��'�� COVENANTB I'
<br /> . �..A. , rr 7�r � ��
<br /> • 1. P�ym�nt�. Borrow�r +flr�ei to m�k� �II ��yrt:�nt� on th� a�cur�d d�bt when due, Unles� t3orrower and Lendei�ia'i�tlff�se, cny
<br /> ' : �� paym�nt�Lbnd�r rlc�lve�(rom Borrowa or or Barraw�r'� bsn�fit will b��pplled firat to ony amount� Borrower ow�t on thd s�curad dabt
<br /> excluelve of fntereat o►prinal��d,��cond to Inte►etit,and then to prinaipd. If pertid grepayment ot the secured debt accun to►�ny r��son,It will
<br /> � • 4 not r�dua ur�xcui��ny er,hedulad payrrNnt untll th�Qocured debt lo pdd In}utl. _
<br /> � - � 2. Cl�im�A�t 7ftl�.HorlovVrr wl I A�y aQ t xet,as sstment�,and other charpe�attributebie to the property when due end wlll defend tltln �.
<br /> , y to the prope►ty��p In�t �py clalmi'W�ck woul�Ifnp�lr�he Ilen of thia deod q}truat.Lenrler mey requlre Borrower to eaalqn eny rlqhte,clelms or i
<br /> dsfmass which Ho�'rowM m�y Iu1vi Rpik�Otp�r1M�bvhq supply Inbor or matarlN�to Improve or melntein the property. _
<br /> "�S 3. Intuv�nc�. Bonowir wlll ke�p the property imured under terms accept�ble to Lender at Borrower's expenae end tor I_ender'a benefit. All F
<br /> •� �x,� inauru�c�policle� rhUl Includ���tandud manpaps cl�uss In fevor of Lender.Lender wlll ba named ae lose payee or as the insured on eny auch
<br /> Insunnc�policy.Any Intunnc�proce�d�m�y W•pplled,within Lendar's dl�cretlon,to elther tha reetoratlon or rep�ir ot the d�meQed property �
<br /> � :�� or to she�ecund debt. If Under nqulre�mortg�pe Ineunnca,Borrower a�reea to melnteln euch Inaurance for aa lonp as lender requlres.
<br /> � 4.Prop�ry. Barrower wlll kaep the propeRy fn pood conditlon e�d make sil repeln reasonebly necessary. ��
<br /> '� -
<br />,.���� 6.Exp�u��. Borrower apreas to psy all Lender'�expenso� Includinp reesonable ettomoya'fees,if Borrower breeke eny covenents in thle deed a,
<br /> of truet or In any oblipetlon secured lay thle dead of truet.�orrower will pay theae amounte to Lendor ae pravided in Covenent 9 of thle deed of °'
<br /> :: truet. F
<br /> � -
<br /> � 8. Pdor 9�cu�lty(ntK��U.Unintn Borrower flr4t obtatns Lender'e wrltten cansent, Borrower will not make or pormit any chengen to eny prior
<br /> �. security interotts. Borrower will perform alt of Borrower's o611paUons under any prior mortgepe, deed of trust or other securiry apreement, __
<br /> Including Hanowe�'�covenants to makn paymenta when due.
<br /> • 7.A��)p�w�n t of Rmq�nd Pro11U.Borrower asolgns to l.ender the rente and profite of tha property. Unless Borrower and Lender heve agreed �
<br /> � � othmw si �In writi�p,Borrower m�y colleot end retein tho rentr�s long ee Borrower le not In d9fault, If 8orrower defeulta,Lender, Lender's
<br /> eaent, or e court �ppointed recelver mey take poasent�ian end menage the property and colloct the rente. Any rents Lender coile��ta shall 6e
<br /> applied f'uet to the costs of inenapin thn property, includinp caurt caate and ettnrney9' fees, commieaiona to rental apants, and any other _
<br /> � neceesary related expensea.7he romaQninp artiount of ronts wfll than eppiy to paymnms on the aecured debt as provided in Covenant 1.
<br /> r.�: • B.Lusehotds•Cor�dominiums:Pl�nn�d Udt D�v�lopmH►ts.Borrower apreva to comply with the provisiona of any lease if thts deed ot trust is on
<br /> =`!jr,';�,id�';' s le�aehold. i�thta deed of t�u�t la on s unit In a co�idominium ar� pl�nned unit deveiopmant, Borrower wlll perform a�of Borrower'8 dutiei
<br /> _`rr�fi,��+!'4; undu tiM cavnn�nt�,by-liw�,a rspulatlons of the condominlum or planned unit devslopmsnt.
<br />::.v�::�i'=71.
<br />:_�.�.,:� �:, 8. AuQwrity of L�idw la Parfurm fat Eor�awa. if Rorrowar fails to�perform any af Borrovror'a dutloa undcr thls dcod of truat, Lcnder may -
<br /> -�' perform the dutl�s a oau�e th�m to bs peMormed. Lender mey�Ipn 9or►ower'e name or pay eny amount if neces��ry far pertormanCe. If eny
<br /> - ,I1 ����'r eonttrucUon on tMproputy t�di�continu�d or not carrled on in s rea�anabls manner,Lendsr mey do wh�tsver Is nacssi+ry ta protect Lande►'a
<br />'.-:'"s-1'�'4'�" secwity IMen�t In tM property,Thls may Inciud�completinp tha construction.
<br />- - lTi.:,
<br /> ��� Lendsr'�faiiun to puform wlll not pr�clude Lendcr from exercisirp any of itt othar riphta under tho iaw or thfa deed of trwt.
<br /> u'_��;5� =•:
<br />- ;�+ Any smante paid by Lendor to prateot lendor's security Interest wfll be cecured by thia deed o!truat.Such emounts wtli be due on demsnd
<br />_'�-.�-: ' and will M�r intero�t from the d�ta of ths peynssnt untl!pald In full at the interoat rote In effect on the securod debt.
<br />_:�. • ��
<br />_._,i,! 10.DatMit end Aee�edon. I} bor►ower f�llt to m�k� my p�yment wMn due or bre�k�a�y covenanta under thi�deed oi trwt or any
<br /> -=�•N.� • oblipatlon rsca�d by thb de�d of truat or any prior morty�ps or dsed of trust, Lander may oaceleret�the m�turiry ot thd Qecured debt�nd
<br />___,w,',•�-: dsmmd Imm�dhte payment�n�i may inwke the power ot�als and eny other remedies p�rmitted by epplicable law.
<br /> %�','
<br /> -.�r;�4_ 17.Rrqunt iar NoYc�of D�fwk. It le Mroby reque�ted th�t coplss of the noticea of default snd�ata be Rent to each peraon who Is e p�rty
<br /> -,-.a,y�°,�� hento, �tthe eddrett of e�ch�uch penon,a�set forth heroln.
<br /> --i(:�'��;� 12.Poww of 6�.If tt»Lender Invoke�the power of sale,tha Trustee sheil fint record In the oNice o}the roylater of dsed�of e�ch county -
<br /> _�-_;,�r��• whu�in th� tnNt proparry o��ome put or puc�i t�raofi ii titu�nd a notic�oi aiauh wniainin�iiie iniormaiion r�qwnd'ay i�w.Ti»�rosiw
<br /> .._<..+Y� shaA�Ito meA copN�of ths noticu of default to ths Borrow�r, to eech ��enon who Is■ pnrry hareto,end to other pencns�apr etartb�d by
<br /> -��u.� appNc�bte I�w.Not bss th�n orw moath �ft�r tM Trustee recorda the notice of defwlt or two months if th� trust propsrty ls not In �ny
<br /> ���'�'� Incaponud cky w Wllaye and Is ussd in tarmfnp op�ntlom c�rrl�d on by tM trwtor,th��'ru:tee aha11 pfvs publlo nottce of ��k to tM p�rsom
<br /> =�;��� ��id fn tM mam�r pnacdMd bY�pppllcebN law.Tru�t�e,without d�mand on Borrowsr,sh�ll s�ll th��ropeny�t publia�uccion to the MpMn
<br /> -- , bldde. If raquk�d by tha Fum Homeatad Prot�atlon Act,Trust�e�hell oN�r the prop�rty In two sop���te sala u rsquked by appllcaWe I�w.
<br /> Trwt�s m�y po�tpon� eak of�II or any p�ral o}tM proprrty by p,ibllo�nnour+c�ment�t ths time�nd pt�ce of any p►avbusly�cheduled eafe.
<br /> L�ndN a ks d1t1�nN mriy purch�ts tM prop�rty�t�ny�ale.
<br /> Upon r�alpt o}paymsnt of tho prfc� btd,T►uttse�hell d�llv�r to ths purchater Truttse'�ds�d conv�ylr�p tM pro�asrty.TM rocltlds contdnsd In
<br /> — TrwtN'�d��rd thsu b�1xlm�f�cb�vldl�nc�of ths truth of the statement�contalrNd tMreln.Trustss�hall�pply tt►�proa�d�ot th��ol�In the
<br /> followfnp ordu: ta)to �II �xp�n��s of tM �ale, Includlnp, but not Ilrnited to, reasonable Truatee'� f�es, rosaonabN attaney'� fe�� �nd
<br /> ___-- ��kKtat�nt fws;Ib)to dl Rum�sscund by thl�deed of trwt,end(cl ths bd�nee,It eny,to the pe►sons le�elly entftlsd to►acelve It.
<br /> 13.Fw�losun.At lsnder'�optlon,thli desd of tru�t may ba torecload In the manner provlde by appllcable lew for fonclosurs of mortpapea
<br /> on nal pop�rty
<br /> 74.klspttUon.L�nd�� may snte the property to Inepect ft It Lendsr plves Barowor notice beforehend.The notice mu�t stats the rs�sonabb
<br /> cauN fa L�nda's In�p�ctlon.
<br /> � 16.CorW�rtwfNloe�.Borrower�s�lgns to Lender tho proceede of eny award or claim for dam�yes connacted wlth s condemnetlon or othsr takfny
<br /> of NI w my put of ttN prop�rty.Such procx�d�wlll M applled u provided ln Covenant t.7Ms asslpnment li�ubJeat to the terma of�ny prlor
<br /> - securfty prssm��t,
<br /> 16.Waiwr. By�xerclsinp�ny rem�dy avaitabls to Lendsr,L�nd�r don nnt y(ve up anY rlpht�to I�tsr uu�nY otFwr remMy.By not sx�rel�lnp
<br /> �ny nm�dy upon Borrowu's d�f�utt. L�nder does not walw Nny rlpht to Iater conNder th�evsnt a dafault If It h�pp�nt eyNn.
<br /> --= 17.JoMM rnd Swer Cu�NpMtr, SuecNSOn �nd AtAqt� dound. All dutles wxfer thls de�d of trust�re Jolnt �ncl aewral. Any
<br /> Barow�r who co-tlprw thl� � of trust but do�s not co•stpn th�uncMrlyino d�bt Instrumsntls) da� so onty to pnnt md convsy that
<br /> Borrow�r'�Int�nst In tM propvty to tM Trutt�e und�r tM tsrm�of thl�deW of tru�t.In�ddltbn,such a Borcow�r�pren th�t ths Under�nd
<br /> - �ny otMr Bortowsr undM thl�dasd of trust may sxtend,modlfv or m�k��ny otMr char►Qsi In th�terms of thls desd of trwt or tM s�CUrW -
<br /> - d�bt without Nut Oorrawnr'�cotuMt�nd wlthout nl�ulnp tAat$orrow�r from tfi�4arm�of thl�d��d of trust.
<br /> = TM dutN��nd b�rnlits o4 tAis deed of trurt�hall bind end beneflt the wcc���ors�nd aulpm of Lender�nd Borrower.
<br /> _:-Y�� 1S.NoYa.UnMss otherwlss requlnd by law,any notic�to Bo►rowsr shsU be pivsn by dellverinp It or by m�Vllnp ft by ce�Ulkd mafl r,ddrss�ed to
<br /> — Borrow�r�t tM pr �ddnu w any otMr eddr�p that Bo►row�r hss pIvsn to Land�r. Borrowsr wlll plve�ny notic�to Lmdsr by cetlft�d
<br /> ��__-- -- maN to Lmd�r'��on po0e 1 of th�o dc�d ot tru�t,a to any otMr�cldr�s�whlch Lender ha�dealpnated.Any other notice to Lender ohall
<br /> = b�Nnt to LaM�r's�ddn��+�s�tatsd on pap�1 ot tMs de�d of tru�t.
<br /> � - Any notic�shNl be MemM to h�vs bem qtven to Borrower or Lender when giv�n ln tho manner st,ted�bove.
<br /> ,;��C'�'— 78.TrwtK of tM a�MrNficld Int�►Nt in tlw�oROw�r.It�l1 or an
<br /> ^_ I�roQ�rty y part of the propertV or any Intereet In It Is sold or trenaferred
<br /> _,;;���.� without l�ndN's prbr wrltten consent, Lender may demand (mmediete paymont of the secured dobt. Lender may also demand immedlate
<br /> _,��u,.r p�yment if tM Borrowu 1� not a natuul perwn and a beneficltl interaat In the Borrowar Is sald or transterred.Nowever, Lender m�y not !
<br /> __ ��
<br /> d�m�nd p�yment in ths�bove tkvatlom If It Is prohlbited by fedent law ea of the dats of thle dead of trust.
<br /> °F f'si'?'�-'��.+�' 20.R�caiwyr�e�.When tM obllp�tlon wcursd by thl� dexd of trust has been pAid,snd Lender hss no furthm• obllpatbn to make sdvancet
<br /> '_':,::'•'1�; uncMr tM Instrumente a pr��ments ocured by thb de�d of tru�t, tM Tru�teo ehall,upon written reque�t by the Lander, roconvey tM trust _
<br /> _ w'�.�� prop�ty Th�Und�r shill dsllwr to tM Bor�owsr,or to Borrower's succescor In Irrtereet, the truat deed and the nots or other ovldenca of the =
<br /> �, oW►p�tbcn�o utlsilM. Borrowe sh�ll p�y sny r�aad�tbn cotts. -.
<br /> `HI;;�,?:,,, 21.S�MCCV�sa Tn�tM. Lender, �t Lend�r'� optlan, ma+l remove Truttee and appolnt a cucceneor truetee by 11rst, msfllrq e copy of the =
<br /> •�� subtltutbn of uustle�t roquk�d by appltcaWe law,�nd then,b flll the tub�tltutlan o}truetee for recurd in the olflce of the reglater of dseds -
<br /> :__T..:-,-- -�� �.,- --�,_..�_�.--------- ---�-------------Y ._"_4_----- -�- - �--------
<br /> ----- -- - :.i::u:wii..q��. ..�w...�m �..p...p...�. ..�o p..•���o�w���o.�w.aw. �.n�woo�sv� ��osiry� wiinoui cvnwyenc�vi me P�oPeRY•siwii
<br />-_ ` , -� ,4� suca�sd to�11 tlN power,dutle�,�uthorlty and title ot the Trustee nemed in ths deed of truat md of eny eucce�sor trustee. _
<br /> , � I =
<br /> ' 1
<br /> _,s �.. � _
<br /> Tn� IO+D�2 0/�l
<br /> ,r���."s�'.� lP��• SAMI([RS 6Y6TEMl.INC..6T.CLOUD.MN 6l�Ot It•i00-0f7•27471 FpRM OCP-MTO NE E/tB1st �
<br /> ,�,.�w, --._.—_ �_.._._ '.
<br /> �•+vw�I?..
<br />_ � �
<br />
|