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<br /> COVENANTB g7� �`1�I�/y 'Ky:-r,'s-_ `..=.v
<br /> lYp�`�6 '�^:y�sxr..iv.r
<br /> �, p�y��q. Borrower �p►ee�ta m�ke �II psyrnlnts on the securod debt when due. Unlest Borro �nd l.�nd�r,�prps-o7Fi�TwiTa, eny � , � '
<br /> psyment� Lender roceivee from Borrower or for Borrower e benefit will be appliad firtt to eny amount Borrower owes on the eetqred debt
<br /> �'�+��.:
<br /> excluafve of Interent or principel,second to fnterest,�nd then to principal.If partial preP�Yment o)the sec ied�b{oCCUrs tor any reeton,it wGl
<br /> not reduce or oxcuce�ny�cheduled psyment until tha secured debt Is pald In full. �
<br /> � 2.CIMm�AyMmt�Inet inYrclslms which wadd imD�sths 1 en of thii deed�of Vust�lendebumay requfn Borro�wer t�o rtttlqn any ripht��clalmsit�Ie
<br /> � t0 th�property y .
<br /> dsf�n�es wNch 6or►ower m�y h�ve�pafnit puties who�upply I�bor or materiAls ta Improve or m�intam the property. x
<br /> ' 3, �pwnnc�. Borrower will keep the property Insured under terma eccepta6ie ta Londer et Borrower's expenee end for Londer's benetit. Ail
<br /> insurance polictea nhal��iura�a p�oc eds may befleppl�iednwithln Lender�'eddiscret an to��ether the�rastor�tlon�o�repatr of the dameged property
<br /> inaunncs policy,Any
<br /> or to the secured debt.If Londor roqufros mortpepa Ineurence,Bo►rowor aqrees to mwi�tein auch In�ur�nce for es lonp aa Lender requires.
<br /> l4.P�op�rtY•Barrower wiil keep the property in good condition and meke all repefre reasonably necetsery. ,
<br /> ����w 6.Exp�ns��.eorrower nqrees ta pay all Lender's expenaes, Including reesonable anorneye' feea,If Borrower breaks any covenents in this deed
<br /> • I of truft or In eny oblig�tlon secured by thls deed of truet.Borrower wlll pAy these�mounta to Lender�s provided fn Covonent 9 of thla deed of
<br /> I trust. _ . ,
<br /> 6.Pria S�curiri I�t�ust�•Unless Borrower first o6taina Lender's writtan conae�t,Borrower will not make or permit any changes to any prior i;ti�
<br /> security interesta. Borrower will perform all of Barower's obUgations under any prior mortgape, deed of trust or other aecurity egreement, .,..',,�t�.ti�
<br /> inCluding Borrqwer's covenante to meke paymenia when due. ' "�''�'``-'
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<br /> ' 7.Aulprxtwnt of R�nt��nd Proflts.Barrower asaipns to Lender the rente end prolits o(the property.Unlan Borrower end Lender have egreed .�Y�,;.���,
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<br /> otherwise in writiny, Borrower may collect and retefn the rents a� long as Borrower is not in defAUlt. If Bo►rower defaults, Lender, Lender's :.� �
<br /> •ti epent,or a court sppointed receiver may take poasession and manape the property end collect the rente.Any rents Lender collects aheil be
<br /> � upplfed fir6t to tho cocte of manaQin� the property. Inoluding caurt Costs and atlo�My6' fees,comm{salons to rental agents,and eny other '.':�._
<br /> necessary reieted expenses. The rema�ninp emount of rents will then npply to paymente on the secured debt es provided in Covenant 1. � , .
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<br /> �.����,��p�s�plan�d Unit p�wtop+n�ntr.Borrowe►aprses to aomply with the Movlslons of eny leats if thla deed of truat i�on �, n�_�.-
<br /> �I�a�ehold.If this dead of tru�t i�on�unit in a co�dominlum or a pl�nned unit dewlopm�nt,Bo►rowar will perform ail of Borrower'B dutiec ,,�?j��
<br /> f,rlr�.�:
<br /> � under the covenanta,hyI�ws,or rapulatlons ot the condominium or planned unit development. •�:�-��
<br /> - � 9. Autt�ority of L�t�de to P�rfam for Barow�►.It Borrower fells to periorm a�y ot Borrower'e dutbs und4r this deed of trust, Lender may �,:;,'%�
<br /> perfwm the dutles or c�u�e them to bs psrfwmed.Lender mey slyn Borrower's mme or pay any�mou�t if necassary for pe�tormence.If any 4,�_
<br /> con�truction on the property i�disconti�uad or not carried on in a reasoneble manne►,lenrJsr may do whanver ie necessary to protect Lender'e ;�•j,?�;_,
<br /> � security Intereat in ths proparty Thia mey include completing the conntruction. :..
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<br /> Lender's failure to pertorm will not preclude Lender from exercislnp any of Its other rightt under the law o►Ws deed of trutt. t,•t•�,�p;
<br /> Any emounts paid by Lender to protect Lender's eecurity interest wfil be secured by thia deed ot trwt. Such emounta wiil be due on demand ;;�i.'S�u�
<br /> � end will beu interost from the dete ot the payment untii pafd in full et the tnterest nte in effect on the�ecaed debt. ,f 1 -
<br /> 10. D�fn�tt��cl AceN�ntlon.If Borrower f�ils to maks a�y payment when due or break� any cove�ante under thfa deed of trust or any :�`:-`�,''r��`
<br /> , obliQ�tion securo d by t h ls dee d o f t r u s t o r a n y p r i o r m o rt g a y e o r d e e d o f tr u s t,Lender may acCelente tM meturity of the secured debt and
<br /> -�,W����
<br /> � demand immedl�te payment and mey invoke the power of sele and any other remediea perml tted by applic�ble Iew. �1����
<br /> ��.R��n}p�pp��a}p�(�.It Is hsroby requested that coplea of the noticec of defauit �nd sds be sent to each peroon wFa is o party v=•��-
<br /> ' � heroto,at tha addroat of esch auch psrcon,u cet forth heroin. �`�'�
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<br /> * 1 2,p o w�r ot 8d�.If the Lendar invokei th�power of sale,tne Trustee snail finc recora in the u:iic:...i ths rspl:tar a!da:.d.:o eec ^ounty
<br /> whereln the trust property or some part or pucol thereof fs 6ituated a notice of default conte ln inp t he in fwmn t l o n r e q uir e d b y lew.The Trustee _
<br /> shall alao meil copfee ot the notice of default io the Borrower, to each parson who ie a p�►ty hereto, and to other penons �s prescribed by
<br /> eppliesblo I�w.Not iest than one month aRsr the Trustee recorda tM notice of d�hult or two montlu if the trust property ia not In any
<br /> inaorporated city or villsye and is utsd in f�rming opentions carried on by the truttor,the frustee sh�ll yiv�public notice of sal�to the persons _
<br /> �nd In the manner prescribed by appplic�ble law.Trustee,without demend on Borrower, shdt sell th�propertY st pubifc auction ta the hiphest
<br /> bidder.If requ o`d one selesof 11 or any pe oeltof tho property by public announcement at the tfma ao�d pl+e ot enyrpQevioucby scMduled sele.
<br /> ' Tructee m�Y p P �
<br /> � . Lender or it�detignee mey purchase the property�t any aele.
<br /> " � Upon ncelpt of payrtont of the price bid,Tru�tse�hall daliver to ths purchaser Trustee'�de�d conv�yin�1M propsrty.Ths recitials cont�lnod in _
<br /> Trutt��'s asd�h�ll bs prima t�cia avidi�nce of the truth of the�tatements containod thersin.Trustee�hall apply tM procesds of the�aN in the
<br /> � relnatatement teeea1lbl to�all�ums�secured 6y thli�deeduof�t ust uend(cllthe balance�if eny,6to the pe orn lepally entitled�to,ecelve It, fees �nd
<br />� 13.Fa�cbsun.At Lender's option,thie de�d of trust may be foreclosed in the manrbr provfde by�PP��Gbie Isw for fotecloaure of mortyaQes
<br />- � � on resl propertY•
<br /> � ; 14,�n�peedon.Lender msy enter the property to inspect it if Lender gives Borrower notice beforehmd.The notice must stete the rea:onable
<br /> . cau:e for Lender's fnapection.
<br /> � • 16.Cond«nn�don•Borrowe:asaigna to Lender the p�oceeda of any eward or clalm for dam�yes connected with a condemnation or other tekfng
<br /> of all or any part of the property.Such proceeds will be Applied as provided in Coven�nt 1.Thia sssipnment is tubJect to the terms ot any ptlor _
<br /> security�9reement. -_
<br />�`�� ' 18'w��� BY n Borr wer'aydefeuita Lender doos not waive enye ight to late�consfde the event s�del�ult If it happens apiinY By �0t exercising
<br />_ eny remedy upo --
<br /> �� �d��nd g�vKal U�bWty; Co-sipr�n;Suce�ssas �nd A�Wpn� Bound. AI� dutiea under thia deed of trust are Joint and �everal. Any
<br /> -' Borrower who co-sipne thia deed of trust but does not co-aipn the underlyinp debt Instrumentbl doe� so only to prmt �nd convey that _
<br />- Borrower't interost In tM property to the Tmcte�under the tormiyt of thia deed of truat,In addition,wch�Borrower apress that the Lender and =_
<br /> debt iwfthout that Borrower e consent end witho�t releesing hat Borrowe rfrom tM terms of thic deedtuf uustf thia deod of trust or the socurod �
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<br />_� ����� The dutiet and benefits of thl�dead of truat shall bind end beneilt the succesaon md assigns of Leoder end Borrower. .� -
<br /> �{�wr�,
<br /> � � 18.Notic�.Unleas otherwise required 6y law,any notice to Borrower shstl be given by deliverinp it or by msilinp it by certifted maii�ddretaed to ::S •�z?•-kFf
<br /> Borrower�t tIN property addroso or any othor add►esa that Borrower has piven ro Lender.Borrower will pfve eny notice to Lendar by certitied • F--------,�:
<br /> meii to Lender'o addrett on page 1 of this deed of trust,o►to any other eddrese which Lender has dasigneted.Any other notice to Lender shsll � r:: ..
<br />- = be eent to Londer's address ea stated on paqe 1 of thls deed of trust. ^��� _
<br /> ' '' Any notice shell be deemed to heve been given to Borrower or Lender when given fn the manner stated ebove. �� : .,; , �
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<br /> 19,Tnmf�r o}tM Prop�rty o►�B�n�fleid Int�n�t in th�Borrow�r.It all or any part of the propertp or eny interest in it is sold or transferred ' • ��'?:'ti�:�i};:}�:.
<br /> ' without Lender's prlor written consent, 4onder may demand immediate payment of the securod dobt.Lender mey also demand immediata `�r;,,.�l,,y
<br />-' peyment if tho Borrower is not e neturel person and a beneficiat interest In lhe Borrower la sold o� uan8ferred. However, Lender may not • ;�����';,�.
<br /> ddmend peyment In the ebove situatlona if it is prohibited by federel law ea of the date of this deed of trust.
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<br /> 20.R�conv�yMte�.When the obllgation secured by this deed of trust haa been paid,end Lender hes rw further obligatlon to meke edvances • -N,��:�
<br /> - ; under the inatrumente or agreements secured by this deed of trust, the Trustee shall,upon written request by the Lender,reconvey the truet <��t'.',^,
<br />- property.The Lender shell deliver to the Borrower, or to Borrower's successor in interest,the trust dsed and the note or other evidence of the �l
<br /> _ ; .:.:;�
<br /> ; obUgation so setiafled.Borrower ahall pay eny recardation costs. ''
<br /> __..___— � 27. Saeensa TrustM. Lender._et Lender's. option, meY remove Trustee and eppoin��succeseor troetoe��y fl�sM, mai�gQe.*ep�}o�pp�� "
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<br /> , substitution of trustee ea reqmrea oy epp'�ica'o�o uw,e���.��e��.., �����y..�o e�..e�.....,,�......,.o.00 ............. ......__...___. ..._._�.._. _ __._.
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<br /> � of eech County(n which the truat propeKy,or some paK thoreoi is situated. The succeasor truatee,without Conveya�ce of the property, shall
<br /> - i succeed to all the{x�wer, dutiea,authority end tdle ot the Truetee nemad in the deed of trust and of eny successor tructae.
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<br /> - BAHKERS ST8TEM5.INC..ST LLOUD.MN 68901 17�L00 79713411 FQRM OCP MT6 NE B/19/31 _
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