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<br /> • � ` COVENAIdTS �/— ���ra�.�
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<br /> � � � 1. Payrtnnt�. Borrowa aynu to make ali poymenta on the secured debt when dus.Unteis Borrower and Le�der agree otherwise, any _
<br /> paymento Lmn�fer receive� trom 8orrower or for Borrower's benetit wiil be epplled first to any smounte Borrowsr owes on the aecured dabt
<br /> sxcluaiv�of ir�terest or principal,sacond to interest,end than to principal.It partlel prepayment oi the secured dobt ocCUrs for any roason,It wili
<br /> not reduce or qxcu�s an�schsdulad peyment until the securad dobt le paid�n fu{i.
<br /> 2.Cl�im�Aywln�t TItN.Borrow�r wltl pay�II texpa,�sse�im�rltt, fnd oth�r chyrpe�attributable to theproperty when dus ind wlll defend title
<br /> to tM prop�rty qaimt�ny cldm�whlch Wouldjnip�k th�li�n o!thl�d��d of tnist.Lender may requlra Borrowsr to suipn�ny rlaht�,claims or
<br /> d�tentaf whl.r.h 8or�owsr m�y h�v�apdn�!pAnh�W�dupRty,hbot or materi6ls ta fmprove or maEnt�ln th�property.
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<br /> 3.kwurw�c�. BarowN will kNp th�prop�rty Intured undsr tami acc�pubN to Lsnde�t Barower'�expanse end for Lsnder'� benetit. Ail
<br /> Inturanc�po{F�Ie�ahall Inaluds a�tand�rd mortpaps claute in frvor o}Lender.Lendar wiil be mmed��lots payee or aa the Insured on�ny such
<br /> liwuronco po4il�y.Any truuranco proc:cdc niay la appitod,v�ithln Lcndar'a dl:crotion,to althcr th3 rostoratlon ar ropa!r of tho dmm�pad prop�rty
<br /> ar to tl►���cund debt.If Lantisr nquk��mortpay�Insur�ncs,Borrows��pn��to m�lnt�in�uch Insur�nc�fot u lony ss 4snd�r rsquira�.
<br /> -� 4.Prapwty.Borrow�r will k�op tM pr�p�tty In poad condition tnd mek�sll npiln n�sombiy n�csst�ry.
<br /> •��� 6.Exp�uM. 8arow�r�pna to p�y�II L�ndsr'��xp�nr�■ Includirq n��on�bl��ttan�yY f���,if Borrowu bn�k�my cov�n�nt�In thl�d�ed
<br /> o}tnut or In �ny obliq�tbn��cund by thl�da�d of tru�t.�orrowsr will p�y th����mflunn to L�nde�s provided In Cov�mnt 9 0}thl�d��d of
<br /> ; tnut. -
<br /> ' •.Mor��a�MvtKNq. UM�u 6arow�r flrst obtdn�L�nd�r'� writt�n conqnt, Bor►ow�r wlll nat m�k�o►p�rmit�ny chanyu to�ny prlor
<br /> � uctxity Ints►���. tlorrow�r witl p�rlorm ell nt Flwrnwsr'• obiy�tlom und�r�ny prior mortp�p�, d��d of tru�t or oth�r tucurity �Yr��rn�nt
<br /> IncNadN�p 6w�own'�cowrtant�ta m�k�p�yn»nt�wMn du�.
<br /> � r 7.A�Nw�M ol R�nu�nd hoM�.Horrowu�sNprn to L�ndu tM nnts�nd profltt of IM prop�rty,UnMe��lorrowu and L�nd�r hav��prs�d
<br /> � othMw��In wrltiny, Sorrawer m�y colNat �nd nuln tM rom� ��lonp ��Borrown i�not In def�uit. If Borrower d�fauitt, Lsndsr, Lsir'er'�
<br /> �nt, w�aourt�plwint�d nc�iv�r m�y tMk� pot����lon �nd man�p� tM prop�rty �nd coll�ct th�vints. Any rsnt� L�ndsr coilecte chell be
<br /> �pplNd fk�t ta Ih� co�t� ol m�n�pinp tM propnty, Inciudlr court cott��nd �ttorn�y�' f���, commlulon� to rental aponts, and any other
<br /> n�a��My relwt�d��cp�n��o.Th�nm�Tnlnp�mount oi rent�w�l than�pply to psym�nt�on ths ucund d�bt�s provided In Covenant 1.
<br /> :�a. . `
<br /> �,L�N�Ia•C�AaNnkwnr�Iw�i UnFt awlopmMq.Borrow�r p�p�to comply wlih tM provbbn�of any I�a��if thi�dNd oi Vu�t I�on
<br /> e lee�elMld. 1;tM� dNd�f tn►Rt Is on�unit in�carKlomir►ium or��planrwd uMt wwlopm�nt.Borrow�r wlll pvtorm �II of Borrow�r'e dutln
<br /> • ur�r th�cov�n�nt�,byI�w�,a r�pul�tbn�of tM corxlominium or pl�nrwd unit d�wbpmmt.
<br /> ��^� P,Authority of L�ndM to hrfotm for�onew�t. If Borrowsr f�il�top�r(orm�ny of BarrowH'� dutlss undsr thls d�sd of tru�t, 4ender may
<br /> '' p�riam th1 dutNt a aus�tMm to W p�rfam�d.L�ndu m�y slyn 8orrowu'�n�m�or pay�ny amount if n�cesa�ry for pertormance.If my
<br /> corutnictbn on th� p�opaty le di�continu�d or not c�rrlsd on In a reuonaW�mannrr.Lendsr m�y da wh�tsver Is neceaaary to protect Lendev'o
<br />-..Y.� `-�•.q,; pawity kiter��t In tfw propety.This m�y includo compNtinp tM eoruuuctbn.
<br /> : h, Und�r't feilu��to p�rform wlll not p►eclude Lander from exercl�(n��ny of It�othe►riphts undsr tho I�w or this de�d of trust.
<br />- :��-r, Any�rtwunts p�ld by L�ndw to prot�ot Lend�r's sscurity intenst wiil b���cund by thi�ds�d of trust.Such�mount�will be due on demsnd
<br />"_ `,v,� �nd will b�K intK�st trom tM d�t�of tM paym�nt until pald In futl�t tF►�Int�n�t ret�in�N�ot on th�s�cund debt.
<br /> '~S_M � 10. D�t�uit�nd Ace��tlon. If Borrowx tails to mak� any paym�nt whsn due or break�my eovenants under this deed ot trust or any
<br /> ���,fq.,i 1 abN�atbn aeund by tMs dNd of tru�t or my prior nwrtpay�or Msd of uua, L�nd�r may�ccel�nt�the m�turity of th� secursd dabt�nd
<br />�;,�,�.,_. d�m�nd knrr�di�ta payment uxl m�y Invoks ths poMw of sate md my oth�r nm�dia pxmltY�d by�pptic�bls law.
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<br />--_.:,�,�,�,� 11.Rp��t for Motle�of DNwk.it 1�Mreby nqwzted that copb�of ths noiiess of d�huh�nd ule D�s�nt to�aeh person wha is a party
<br />—. - .� !l�:9:L`.=:!!!� ���D nt�sr����ri���.u_,r��� w�ewf fnrth F��n4n.
<br /> ���'r � 12.Poww of E�N. It tM Und�r invoks�tM pow�r oi�sle, the 7ructee�hall first rscord in the offics of the repister of ds�da of t�ch coumy
<br /> wMreln th�ttu�t ploperty a som�p�rt or p�rcel tMrsof is sitwtad�notics of d�twit cont�ininp tM inform�tion requirsd by law.Tf�Truat�e
<br /> �.`�"z"_'��' sh�ll aito mail eopie�of th�notics of def�ult to tM BonowK,to ear.h penon who Is�p�rty hento, �nd to othsr p�rson�upr escribed by
<br /> � -=;-r�;sa�„� �ppucabN law.Not Na thm orw month �fte tM T�ustee rocordi th� notics of defauk or two montha if tM tmst propsrty I� not In my
<br /> —_-- - incaporated clry or villp��nd 1�uad In farminp op�rations crrisd on by the trustor,the frustts slull pive pubUc notics of saN to the peraons
<br /> ~P���� �rx1 in th�manMr pn�c►(b�d by�apppllc�Ws I�w.Trustea, without demand on Borrowe►,thail�e0 ths property at public suctfon to the hiphest
<br /> biddsr.If requlred hy the Farm Homeatel�d Protection Act,Truttee�hell oNer the proparry In two separate salsa�s requlred by�pplicabls law.
<br /> -----= — Lsu�a k�i d�i��ilp�m,y�chise thi�opirt i atiny i�l�by public an�wuncsrrNnY�t th�drt►�md pl�cs of�ny pnviously scheduted�d�.
<br /> .�1Y�!
<br /> °= Upon nciq t o�}p�yment of th�pric�bid,Tru�tN slull Mliver to ttN purch�:u Trust�s'a d�sd conv�yinp tM prop�rty.Th�rscltfati cont�ined In
<br /> -.�= TruatM'�M��hall ba prim�facis svidbnc�of tfie tnrt?�of the statementt eontatnsd thereln.T�ustse sh�ll apply the proce�ds of ths sste In the
<br /> - 4-__--s, to!lowinp order:(e} to all expenae� of the eele, inCludinp, but not Ifmfted to, roaaaru6le Trustee'� feee, reasonable sttomey'e feee end
<br /> --.._� relntt�tem�nt te�r, (b)to a11 tumt secursd by thta deed of trutt,stid(c)the bal�nc�,N�ny,to the person�leyally entftied to roceive it.
<br /> __—��� 19.FenoloMx�,At Lendsr'�option,thla deed of truct may be forocloced in th�m�nner provld�by�pplic�bt�taw for forocbsure of mortpape�
<br /> " on rssl popKty.
<br /> =----- 14.Irnp�ctlon.Und�r may mter the property to Inapect it if Lender elvst Borrower noUce beforehand.The notfce muct stste the roaconaWe
<br /> cau�a fa L�nd�r'�frupec8on.
<br /> 16.CoiMrrtin�tla�. Borrower asel Qm ta Lender thaproceeds of any award or claim for d�ma�f�s�connected with�condemnation or other t�kinp
<br /> of dl a�ny p�rt of the prop�rty.5uch procesds wili be appl(ed�s providsd In Covemnt 1,Thl�astlpnment is�ubjeot to ths tsrms of any prior
<br /> — s�auity�prNrtNnt.
<br /> _ ;;�,, 1d.WMwf.By�xsrclsinp any remady aw(lable to lander, Lendar doea not givs up��nY riphta to latu uu anV other rem�dy.By not exercis(nq
<br /> �ny rortNdy upon Borrower'�def�utt,Lender does not waive any ripht to leter consFGer the event e defeult If It happens epafn.
<br /> �-� 17. JoMrt r�d lwKr L��y: Co•slyn�n; Succ�aors �nd Asslpm Bound. Atl d�Us�under thie deed of trust ere jol�t and ssverai. Any
<br /> -"'� Borrowar who co-siprn thl� ds�d of trust but does oot co•tlpn the underlyInp debt Inttrument(t1 don so only to yrant and convey th�t
<br /> _._.' Borrowx'�IntKnt in tM property to tM Truttee under tha terms of this deatl of trutt. In�dditbn.�uch a Borrower aprees that the Lender and
<br /> = anY otMr Borrower und�r this desd of trost may extend,modl(�r or mske my other ch�npes In the termt of thia d�ed of truat or the secured
<br /> .a:cav,a,�a: d�bt without tlut Borrow�r'i con�ent�nd w(thout relnsinp th�t Eorrowsr trom the terms af thb de�d of trust.
<br /> ��,e._� TM dutN��nd b�nefit�of this deed of ttuet shell bind and benefit the succe�son and es:lpna of Lendsr eM Borrower.
<br /> -_'-�°�;'a� ' 1t.NWa.UnNw otMrwi�e rsqufrod by law,any notice to Barow�r shall be piven by delivarinp It or by msflinp it by certified mdl addres�ed to
<br /> - �_;-.����' Borrower at tM property addreae or enY other addreas that Borrower has pfven to Lender,Borrower will pive any ootice to Lend�r by oert(fied
<br /> .-- m�ll to Und�r'��ddua on pape t of this deod of trust,or to eny other eddro�s whlch Under has desiqnated.Any other notice to Lender shail
<br /> :�����4�� , M��nt to L�ndw's�dd��ss u a�ted on paqe 1 of thl�deed of truat.
<br /> •;��; . Any notic�shall bs dnmsd to have bean plven to Borrowsr or Le�der when pivsn t�the m��ner�tated abov�.
<br /> - :�R,���' 18.Tr�nshr of tlf�Prop�Ry a�8�11Na1 IntK��t in tM Borcow�r.If ell or any part of the property or eny interest in it le sotd or treneterred
<br /> -�'`"- wfthout Under9 prfor written consent, Lender may demand Immedfate payment of the secursd debt. Lender may also demand immediate
<br /> ' �`�l,t����5',-, paym�nt ff the Bo�rower li not e namrtl penon end a beneficial Interoat In the Boiaower Is sold or trensferred. However, Lender may not
<br /> ,:;��:r.;•.. ���, d�mand p�ym�nt In ths abow situstlono If It is p►ohiWt�d by tederel iaw ae of the date of thiy deed of trutt.
<br /> ;,.ti.t.....,�t�.
<br /> - =�:• 24.R�cot►wyana. When the ablip�tion s�cured by thl�deed of trust hai been pald, and Lendsr h�i no turther obllpatlon to meka�dvanc�s
<br /> _" '� ' und�r th�Instrums�t�or ap�esmsnts secursd by thlt de�d of truat,the Trustes shNl, upon written request by the Lender, reconvey the truat
<br /> �.?y�:� � prop�rty.Ths Und�r thill dilivsr to ths Borrower,or to Bonower'a succeuor in intsres4 the trust deed and the note or other evfdence ot the
<br /> oblfpatbn�o a�tl�tied.Borrower�hall psy eny rocordation coiitt.
<br /> °s- �.' 21. SucaMaoe Tru�tM. Lender, et Lender't optton, may remove Trustee end eppoint a eucces�or trustee by ftr�t, melling a copy of the
<br /> _;:;�•��� suDttitution oi trustes��requirad by epplicabte law,and then,by fillnp the aubttitutlon ot truatee For recard In the oHlce of the ragfster of deeda
<br /> oi saeh county In whicl�the tru�t property,or some part thereof, ie aftueted.7he succeuor truetee,�vlthout conveyance of tho proporty, shali
<br /> , , aucceed to dl tM power,dutiee,authorfty and title of the Truatee named in the dead of tru�t and oi eny successor trustee.
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<br /> . IASp�?o/2l
<br /> . ' �, BANKERS 6Y6TEM5,WC..S7.CLOW.MN 68307 11•E00•397•4341)fOHM OCPJATG-NE 6/18/01
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