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<br /> COYENANTS �7'� 1 I,•,���-+���G
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<br /> 1, p�ym�nt�. 8orrow�r �qme� ta meke ati paY �enta on thp eacured debt when due. Unleas Borrower and Lander epree ot r 6e, eny • �swt.�
<br /> p�yment�Lender rocdvot from Borr�wer o► fat�orrqwer'c GBnN(it wiil 6e eppUed tint to eny amounte Horrower owes on ths��cured dabt ., � •-:k-•
<br /> I sxctullw of int�ns�a p�incfpd,pcon{1,to.1nterp,t,�nd th�n ta pnnclp�l.If p�rtl�l prep�yment of the secured debt occura for my reason,►t wili „ .��•,r,f:,
<br /> � not reduce or�MCUi��ny tch�dul�d p�ytp�nt unt��ih��ecured debt 1�p��d In 4ull. ., ,
<br /> T.ClaWn�Ap�IMt TMM. 6arqwu witl��y tnxes.'iA►w�m�nt�,�nd othar chu�es attributa6le to the property when due and will dAfsnd tltic . �;,y�.
<br /> to the prop�rty�p�imt sny olalm�whlth w�iilcl.{I�IINt��,yi,n,a)tfil�d��d of trust.Lender may require Borrower to etdyn eny rlpht�,clalms a .,�.,.
<br /> defen�ss which eorrower m�y have apiwnol pKtlbt Whi�{�IY Jil�nt nr m�teriels ta improve or mn�ntnin tho property. ,
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<br /> , , 3.Imur�ne�. Borrowu will ks�p th�prapsrty Intured unde+ tnrml:eccsptable to Lender Ht Borrower'e expenss�nd for Lender's benefit. All ,�._L--��,�
<br /> insurnnce polialee shell include e stnndnd mort(I�ge claure fn fnvat at{.endsr.Lender wlll be n2med ns loss payoe or as thn inRUred an eny such �
<br /> J inwnncs policy.A�y Insunnc�proce�ds m�y be apP�M�d,wrth�n Lender's discretion.to eithar the restoratian or ropalr of thn damaflod proporty ,, ... ,, _ -
<br /> F I or to the ucured deht.lf Lmder requires mort��ge Insur�nc�,8orrower spree�to maintain iuch inourance for es long ae Lender requiras. ;'?ti4��,.��},�K�i;
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<br /> » � 4,p�opKty.Borrower will keep the property in yaad conditlan and meke eil ropairs reesonably neceseary. `�� ; ,���.�`?'-
<br /> .w 6.Exp�ma. Borrowx aqress ta pay all Lende�'s expenfes,InNu�llnq resaonebls attorneyc'fees, if Borrower breeks eny cavenents in thic deed , ���S�i:Y+':%"�:;'• �71'
<br /> of truet or in any oblip�Lion a�cured by tliia deed of truet.Borrower will pay these emountA to Londnr an providad in Covennnt 9 of thfs deed of •y��__.��:;';�����' �
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<br /> 8.Prla S�curtN Intr�st�.Unlees Borrow�r firat obtn�ns lender's written consent. Borrowsr will not mnke or permit any chanpes to any prlor , � �
<br /> � security interetib. Barcawer wfll perfarm all at Borrqwer'A obligetions under eny prior mqrtgegn, deed of truat or othnr seourfty agreement, _,�-�4__=_
<br /> Includinp Boirower'a wven�ntc to mak�p�ymantn when due. -
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<br /> 1 �,Aselonrt�r�t of Awtt1� and Vroflte.Borrower assfpns to Lmnden the rente and profite oi the property. Unleta Borrower and Lender have agread - -
<br /> otherwfse In writinp,Borrower mey collact and rpt�in the rnnta es long aa Borrower is not m default.If Borrowor defauits. Londor, Londer's �_
<br /> apent,or a court appointed rocofver mQay tako pouessipn and manege the property and colloat tha renta.Any renta Lender collecte shall ba _
<br /> nece�taary ela ed oxpenseif The roma1ninp imaunt�of ronta w�►then apply to paymants on.the aeaurqd dabt es provided In Covonan t1Any other _.._..
<br /> � I with the ovisions of an lense If thla deed of uvut is on -
<br /> � 0,G�u�holds•gorsdan{+Yun�;P{Mx►�d Unit Q�vNopm�nt�•Borrower� resi to comp y fx V --
<br /> � undir tMlcoveni tt�by I+ws�or iepul�tions of the condaminlum or pli4►�a�it develapmentnt, Borrowor wiit perform all of Barrowpr'a dutias -�
<br /> � � 8.Authodty of L��d�r to P�ftKm�a lorrow�t. Ii Borrowar tatis to periorm any of Borrower's dutiec under thfc deed of trust, Lender may __
<br /> i perform tM dutNs or caui� them to be perfarmed.Lender may siqn Borrower's neme or pay any emount if necessary far performance.If any
<br /> J conatruction onthe qopxty Ic discontinued or not carrfed on in a reatonebte menner,Lender may do whataver ia nocescary to protect Lender'a �=_�_
<br /> � ucurity i�terelt In tM property.Thls m�y inc�ude comptetiny the conctructlon.
<br /> Lender's f�iluro ta pMarm will not pracluQa Under from exerciainp�ny of ka other riphte under the law or thlu deed of trust. ��•
<br /> ? Any emountg pdd 6q Landsr to proteot L�nder'e�scurity interest wfil ba secured by thfa deed of trust.Such amounte will be due on demand
<br /> ,� arxl will bear ime�ast Irom the dste of the p�yment until pald in full et the interest rate in effoet on tha secured debt. ��;
<br /> 10. D�iwk aed Aec�Mion. If Borrower feils to make �ny p�yment when due or brerkp any covenants under this deed of trust or any �;=
<br /> } oblip�tion�ecured b�this deed of trust or eny prior mortflaye or deed of truat, Lender mey sccelente the maturity of the secursd debt and
<br /> dem�nd Immediitei D�Vrnmt end m�y Invoks ths power ot sale and�ny oiher nmediea permitted Ay epplicable law. �'
<br /> �' 1 11.R�qwtt tor 11[atlei of Q�iMiit.It is hereby rqquested thet copies of tha noticea of dafault and sale be sent to each person who is a party
<br />- - ` � Mroto,at ths�aaress ofi each such peravn,Na�di iGPtr�t�srain. —
<br /> �1 12.Powu of SY�.II th�Lenc4r irn�k�s the power of sale,tha Truatae ahAll flret record in the oNice of the rapister ot deeds of aach county _
<br /> wMrein tM truu props�ty or somo parc or pircel thereof is cituated a noUce of dafauit containing the Informstfon raquired by I�w.Ths Trust�s --
<br /> � • �hall atso mail copA�of the notic�of default to the Borrower,to aach pereon wfin la a party hereto,and to other persons a��e:cribed by � i
<br /> applicable I�w.Not bsa th�n one month after the Truetee rscords the notice ai defoult or two montha if ths tru�t property a not in any —
<br /> • Incorpor�ted ciry or villape and is used in ttvmVW operstionn carrled on by tha uuntor,the frustea ahau pive pubiic notfce of aals to the peraona —
<br /> and In the msnnsr pese�ibed by�appplYcabb I�w.Truetee,without dem�nd on Borrower,nhall cell the propertY at pubifa�uctlon to ths hipi»tt �'
<br /> bidder. If requM�d bp tF�1 Fa�m Homestesd Protectlon Act.Truates thell oNer tho property In two ceparate sale�ee required by applicable I�w.
<br /> Trutt�e may po�tpoM s�N ot ell or any parcel of the property by public a�nouncsment at the time and place of eny previously�chedui�d s�N.
<br /> Und�r or Its d�slp�N m�y purohpse ths property�t any sale.
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<br /> ' " Upon reafpt of paym�nt of the priq bld,Trustee chall deliver to the purchaaer Trustee's deed conveyinp the prope►ty.The reciti�lY conta{ned tn �:
<br /> • TrustN's di�d fhall N pirns�ack evidience of the truth of the statements conteinod therein.Trustee ehall apply the proceeda of the s�le in ths ,.
<br /> - fotlowinp orde: la)to +II exp�nses of the sale, Includinp, but not limited to, reaaoneble T�ustee'� fees, reeaonsble sttorney's tees and -
<br /> reintt�tem�nt fees;@) to�II sums secured by thl�deed of truat,end(c)tho balence,If eny,to the pereons lepslly entitled to recsive it. _
<br />,i� ; . 1S.For�cfosun.At Under'e option,thla deed of trust mey be foreolaeed In the manner provido by appllcabte law for forecbsure of mortpayes
<br />= . •-...1r,;, on reil property.
<br /> �- ' '�' 14.Insp�cUon LeMer m�y entor the properry to inspoot it it Lunder plves Borrower notice beforehand. The notice must state the rs�tonabls
<br /> i,i �:. .. :" caua for L�nder'a In�Pecdon.
<br /> • ' 16.Cond�rt�nMlar+.Bur�ower asafyns to Lender thep►oaeeds of any eward or claim for damapes connected with a condemnetion or otha taklny
<br />- �,- of�II or my pKt oltha property.Such pr000eda will bo epplied ae provlded in Covsnant 1.7his acaipnment is subject to the te:ms of�ny prlor
<br /> tecurfty apreemer�t,
<br /> 18.WaIvK. By exerclsinp sny remedY availabte to Londer,Lender doee not glve up eny righte to leter use eny other remedy. By not sxercl�ing
<br /> t.,+ I � � any rem�dy upo� 8arower's detault,Lender does not walve any rlpht to later conalder the event a default if it h�ppens again.
<br /> - `"' 17,Joi�t�nd 9�vx� ��y• Co•dpn�n; Succ�sia� �d Asslyns Bou�d. All dutles under thls deed of trust are jolnt end sevenl. Any
<br /> ---���-+ Borrower who co-iipns thi�deed of trust but does not co•clpn the underlying debt Insirumentls)doee so only to pnnt snd convsy that
<br /> � "�" " Boraower'd intereat In iM property to the Ttustee under the terme of thla deed oi truat.In addition,such a Borrower aprees thet the Lender and -
<br /> 1,.1" any other Borrower under this deed of trust may extend,modifv or meke any other chengea In tha termt of thls deed of truat or tM tecured
<br /> " .� deh^without th�t Barcawer'e consent end without releaaing thet�orrower from the terms of this deed of trust.
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<br /> . � TM dutiq snd benetits of this deed of trust ehall bind end benefit the succesaors and sssiqna of Lender and Borrower.
<br /> 18.Notic�.Unbse otherwlse requlred by law,any notice to Borrower shall be given by delfveriny it or by mailing it by certiiled mall addrsssed to ---------
<br /> � �` Borrower et the propertY sddross or any other addreac that Borrowe�has givon to Lender.Borrower will prve eny notice to Lender by certified -- _-
<br /> msil to Under'�addreae on pipe 1 of thls deed ot trust,or to eny other addresa whfch Lender has dealgnated.Any other notice to lender sh�ll __ ____
<br /> � b�aent to Lender'�eddma u stated on papo 1 of this deed of trust. •
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<br /> � � Any notice oh��be d�om�d to have been glvsn to Borrower or l.e�der when plven in tho manner etated ebove. -•
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<br /> � 18.Tr�ufw of t!w hopety a�B�11cld Int�n�t In tM Bortowe. If all or any part of the p►openY or any Interest In it la sold or tronsferrod ";�.'�?'
<br /> � without Lender's pbr written consent, Lender may demand immedfate payment oi the secured debt. Lender may elso demand Immediate „�`�'``'"�"'
<br /> payment if tM Borrower Is not a naturel pereon and e beneficfal Intereat In the Borrower ls sold or transfenod. However, Lender may not ���•.��}.�,c
<br /> ' -,'.�� demmd payment in tha ebove eituatlona If It Is prohlbited by federal lew as of the date of this deed of uust. "^•� i '.;t_ .
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<br /> 20.R�conv�yme�,WMn the ohtipatfon secured by thia deed of trust has been paid, and Lender has no further obligation to make edvances •'�.'i_'�:. s.,'.=1•'
<br /> - ui�Jer the inavuments a eg reements secured by thta deed of trust, the Tnistee shall, upon written request by the Lender, reconvey the trust �':'�-•'.�
<br /> - ! p!operty.TM Lender shUl deliver to the Borrower,or to Borrower's successor in Interest,the trust deed and the note ar other avidence of the � �•
<br /> _ ------
<br /> � obliysiton so e�ti�fied. Borrower ehall pey eny recordation coats.
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<br /> 21. Sua�qa T�uttM.Lender, et Lender'e option, may remove Trustee and appoint a successor trustee by flrst, mafling e copy ot the
<br /> � substitution ot trustee as requlred by eppllcable law,and then,by tillnp the substitution of trustee for record in the office of the repister of deeds
<br /> + of eech county In which the trust property,or some part thereof,ls situated.The successor trustea,without conveyence of the properry, 6ha11
<br /> succeed to all the power,dutles,euthority end t�tle of the Truscee nemed fn the deed ui trust end of any successor trustee.
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<br /> lANKERS SYSTEMS.INC.ST CIOUD,MN 66�01 11-600�97����11 FOHM OCP�MT6 NE 8/19/91
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