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<br /> COVENANT3 ����`'��'�
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<br /> 1. P�ymmt�, Borrower apna� to m�ke all paym'nts on th� secured dobt when due. Unlasu Borrower and lendor apree t rWlts, �ny �
<br /> � paymsnn L�ndn nc�ivu hom Bonpw�r or far kior►pHar'i�n�tit wlll be�pD��ed 1mt to any nmountR 8orrower ow��on th� �ecund d�bt
<br /> I �xclu�rvi of Inte►e�t or prinClpd, second ta�np►ent �rYJ 4hln to pnncip�i.If pertid prepeyment af the eecured debt accur�for nny reaton,it wfll
<br /> � not radute or excuo��ny�cheduled p�ymtnt un�tl tM nnCU�ivl debt�s pdd in full.
<br /> � 2.CIMmI Apdn�t Titl�.Borrow�►wlll p�V a��t�xen,�euenammts,�nd othu ehupe�+ttrlbutable to the property when due and wlll detend tftle
<br /> to tho property•p alnst�ny Cldm�whtch wouW�+tiPt1►ttw i;qn ot thle deed ol trutt. Lmder mey require Borrqwer to�saign�ny rightt.clelme or �
<br /> def�nau whfch 0orrow�r m�y h�va�paln�t 0�►ti�A wtu>4�KWIY I�bor ar matvial�to improve or m�intaln th�prope►ty.
<br /> 3.Insurw►c�. Borrower wiil kesp ths p�op�rtY �nnu�m�J�n�rJ�r term��ccept�bte to Lender et Borrqwer's expanse and for Lender'e benetit.RII
<br /> Inturanee pollcles ihail Includ�a�tmdard mortp+1pt C�+liaro In favor ot L�nd�r. L�nder wfll he nem9d�s lose payee or as the inaured on�ny tuch
<br /> � Insursna pallcy. Any intur�nce proce�df m+�y b4��f�►�n�J.withln lend�r'�dl�cr�IW�,to elther tM restorwt�on or repdr qf the d�map�d property
<br /> I or to the�ecured debt.It Lender requlrem m�rtp�ffe�MU�nnce,Borrow�r�greee to malntain euch�nsurance lor ne long es Lender requlre�. �
<br /> � 4.P�opety.Borrower wfli k��p th�prap�rty In povd C�+:'�tion�nd m�ke all npafn rsatombly nscsseuy.
<br /> � � of ttus or�in inyro611patlon eecured bylthin d ad of pr tca Borrower�wfll pay these em unt to lender�as prov ded kn Covenant 9�of thishdeed of
<br /> '"' trust. .
<br /> 8.PrEa S�cu�lty Int�ritb. Unlesn Borrpwer firxt obTa�ins Lender's written consent, 8orrower will not make ar permit any chanyee to any pripr
<br /> aecurity intereats. Borrower will perform ell 01 Barpwer's oblipations under any prior mortpege. deed of trust or other secunty aqraement, ,
<br /> • Includlnp Borrower'e covenante to mako paynMntb wMn due. '-_
<br /> 7.Asslpnm�nt ot R�nts�nd Pro11t�.Borrawer enaipsW to Lender the rents and profits of the property.Unless 9orrower and Lender have apreed ,��-S`'=
<br /> othe�wise in writing, Barrower may collnct arxl rattan the rents at lony es Borrower Is not in defauit. If Borrower defeults, Lender, Lsnder'a ''�";��'-';'_�'_`�`"
<br /> egent,or a court eppointed recoiver m�y tekq posoession and m�nege the property and coliect the rentc. Any rentc Lender collects shill be . �;,•�
<br /> necoasaryr elet d expent oa f The ruma�ng amqurR of ents will then apply to peyment�on the secured debt as provided in Covenan d'any other
<br /> : l 8.L�Awld�•Coedorn�Nunt:P�u�MJ U�t Osv�loprt�rtts.Borrower ayrees lo cumpIy with the pravisiuns o(any lease if this deed of truat Is on .� t
<br /> ; � �Ie�sohoid.If this deed ot uust is o�p uait in a condominlum or e plmned unit devetopment. Borrower wiil perform ail uf Borrowsr's dutiea -
<br /> under the covenants,bylawa,or repulatbnt of ths condominium or planned unit devNopment.
<br /> } I 9.Autlarity o}L�r to P�rtorm ta Batnww. If Borrower faits tope rform eny of Borrower's dutiss under thia deed of truct, Londar may
<br /> ` ! perform ths duties or cause lhem to bo partcxmed.Lander m�y efpn 0o►rowe�'e name ar pey any emount if neeeaaary for perform�nce. If eny
<br /> � conatiuctfon on the property Is diacontinued or not carried on In e reaaonabb menner,Lender mey do whatever is neceseary ta pratect Lender'a
<br /> � ' securlty interest in tha property.Thfn may t�v:luds completinp the construction. . -
<br /> : � i Lender9 tailure to pertorm will not prealudq tender from exercieinq any of ita otfror riphtt under ths lew or thfa deed of trust.
<br /> , � antl wi�bear�inte�reatYf omdthetdatepoi tho Wyment untll pald in full at�the interosc rate in�eHect onfthe socured debt unts will be due on demand "
<br /> � ` ' 10. D�huk�nd AcadKatton. if Bor�anr+r faila to make eny payment when due or bre�ke eny coven+nta under thie dsed of trunt or eny _
<br /> '� obliyatbn secured by thfa d�ed of truet or�ny prior morty�y� or deed of trust,Lender m�y accelerata ths maturity of ths secur�d debt and
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<br /> demand Immediate payment�nd may ia�rake the power of sale and eny other remedies permitted by appticable law. �' ����'�-
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<br /> - I 11, R�qu��t ta NoBc�of D�f�ult.It ia hereby requested that coples of the notices of default and sele be sent to each person who la a party ���-�
<br /> ; hereto,�t the�ddreaa of each auch porson,as set forth heroin.
<br /> _ t � =2, oy.�����,!!!t�iar.�ar i^Yr.�es ihs�ewe•of Rwia;rhw Trustee shsll first record In the oHice of the repister of deeda of each county �"�'ii.��.
<br /> � Iwheroln the trust property or some p•�rt or p�rcel theroof it ettwted a notice of def�uR containina the intormation requirod ey ipw.The Trusiee �
<br /> i ehall �I�o meil caplea of the nor,as of dsfault to the Borrower, to each person who is e party heroto, and to oth�r persona as prescribed by -
<br /> epplicaMe t�w. Not leae thm o�,e rnanth after the Trustee records the notice of default or two months if ths trust praperry Is not in any
<br /> � Incorponted city a villepe and is�ued In fuminq operetions cerNed on by the trostor,the fruatee�h�ll give public notice of eaie to ths persone o�_
<br /> � and in th� m�nner prescribed by�pppliceble I�w.Trustee,without demmd on Borrower,ehall aell th�propertY at public auetfon to the higheat =-� -=
<br /> � bidder.lf�squlrsd by th�F��rm Homestead Protection Act,Tructee shall oNet the property in two separate salea aa required by eppliaable few. '-�-
<br /> r�.'��� Trustee may postpons sale of atl or any paresl of tha property by public annauneement at the time end place of eny prevlously scheduled tale. '�-
<br /> ��:� � Lenderor it�deaipnee mey purChase the property at any sale. f�'E�
<br /> Upon receipt ot p�ymsnt of tho price bid,Trustee shall deliver to the purahaeer Truetee'a deed conveying the p�operty.The recltlais contained in
<br /> � Trustee'�deed shall be prime facie evidfence of the truth of the et�temsnt�contdned th�►ein.Truatee st»II�pply the procssds of tha s�ls In the �:1
<br /> followfnp ord�r: (�) to sll exporwva of tFw cale, includtnp, but not Iimited to, re�son�ble Truttee's fees, reasonable attorney'a tees and
<br /> y; reir�staument fea;(b)to ell sumt��oured by thit deed of trust,and(cl the balence,if eny,to the persor►s leyally entitled to receive It.
<br /> � ` 13. Fa�clofun.At Londer'�optlon,tMe deed of truat may be foreclosed In the mAnner provide by applic�ble law for forecloeure of mortgages
<br /> .` on re�l property. _
<br /> �• 14. kup�ctian. Lender mey enter thu property to inspect it if Lender pivea Barowar natice heforehmd.The notice must ctate th�reaeoneble
<br /> �;� ceuse o(r lender't inspectlon.
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<br /> � 16. Ca�doo.Borrower essip�nn to Lender the proceeds of any award ar claim fa damagea wnnected with a condemnatfon or other taking __
<br /> I of di a�ny p�rt of the proporty.Suah proceeds will be applied es provided fn Covenant 1.7his astipnmmt Is subject to the tsrm�of any prlor i_ _
<br /> .� securiry tynament.
<br /> 18. W�vw.By exercitinp�ny ranqdy aveil�bte to L.ende►,Lender does not pive up eny riphts to Ister use any other remsdy.By not exercl�inp �
<br /> . any remedy upon Borrower't dof�ult,lender doea not waive eny right to tater consfder the event a defeult if it heppens apain. � -
<br /> � � 17. Jdnt �nd S�vwN LIr6iHty; Rasiprart: Suec�sson �nd Aaipns Bound.Aii duties under this deed of trust aro joint end several. Any �y'''�" -
<br /> ` � Borrower who eo•alpne thfe daed of Vust but does not co•alpn the underlyIny debt instrumentlel doee so only to pront end eonvey that _— _
<br /> Borrow�r's let�roat in tho propertv to the Truatee under the term�of this deed of trutt. In addition,such�Borrower aprees that the Lender end �.;.
<br /> eny other Bonow�r und�r thla d�ed of trust may sxtend, modifv or make eny other chtnyes In the terma of this daed ot trust or tho secured
<br /> debt without that 8orrower'�eonrent�nd without roleaelny that�orrower irom the terms of this deed of Vust. ,�;"�"'-
<br /> � TM dutles md benafite of tMa daed of truat shali bind and benefit the successors and sselpns of Lender and Borrower. a�—��s,��
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<br /> • 18. Notic�.Unlase othorvvise roqufrdd by law,any notice to Borrower shail be gNren by dell�erfng it or by maflinp It by certftied mail eddressed to . ���� •
<br /> Borrower at the property sddren�or any other eddreas that Borrower hee given to lender. Borrower will gfvo eny notice to Lender by certified r,.„ r,�
<br /> � + mai) to Lend�r's�ddresa on pape 1 ot this deed of trutt,or to any other addre:a which Lender has da�signeted.Any other notice to Lender chall . ; `�
<br />- � ,? b�sent to Lendar's addreae�e at�ted on pape t of thfs deed of trust. ��;y, ' '*
<br /> , Any mtice shall be deomod to have been qiven to Borrower or Lender when given in the menner atated above. �•���,�� �raq�� .
<br /> . . . .�i.vJ�i.'S'l�A;.
<br /> 19. Tnnst�t of th�Prop�rtY o��Bsrnlkir kK�ntt In tM Barow�r.If all or any part of the proparry or eny interast in it i�cold or trsnsferred •"'?i'�`-'�`�'
<br /> wiihout Londer'� prior writt�n sonsent, Lender may dem�nd immediate payment of the aecured debt.Lender msy elso demand immedfaie ��,��_+:;�
<br /> • payrnent ff tho Borrowar is nnt e natural person and a beneficfol interest in the Borrowor is sold or transforred. I�owevar, Lander may not ,
<br /> demaM peymont in thu obuve siwntions if it is prohihited by foderal luw as ot tho dato of this deed of trust. -
<br /> T0. Rrconwy�nc�. Wtwn tho obligatlon secured by this deed of trust has been paid, and Lender has no further obiigetion to mako edvoncas . �
<br /> under tho inetrumonta or egreembnts eecured by thia deed of truat, the Truatee shill, upon written request by the Lender,recanvoy the tru�t _
<br />- I property. Tho Londer�huil deiiver to the Barrower,or to Borrower'o succeesor in interest,the truat dead and the note or other ovidence of the
<br /> ' obli�etion so setlo(iad.Borrowe+r shall pay eny recordation costs.
<br /> 1}r I 21. Suac�aa Truot�a. l.ender, at Lender's optlon, may remove Trustee and appolnt a succeasar trustoe by first, mailing a copy of the
<br /> _ _� aubntin,tion of vustea eo reauired bv aoalica�le law.and then,bv fflino the su�sdtution of trustee for record fn the office ot the register of deeda
<br /> ' � � ot eech county In which tho trust property,or some part thereof,Is situetod. The wccessor truatee.w�tnouc conveyence oT cne property,sneii - --_-=-_"---=
<br /> Ieuccaed to all tho power,duties,authority end title ot the Truetee named In the doed of duat and of eny eucceaoor trustee.
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<br /> 1 C�NK[RSSYSTE►IS.INC.,5T.CLOUO.MN 66301 11�E00�397�23411 FORM OCP�MT6NE BH9lBt � �
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