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<br /> � cov��Nre 97- sUG4�'� ��:w,,�_s-�=-
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<br /> 1. P�ym�ntt. Botrow�r �prsss to mak� ail p�yments on the tscured debt when due. Unles� Borrower �nd Lender �yro�otherwin, �ny ' t"'-�=---=
<br /> payments Lender rocelve�from Borrower or tor Borrower't banefit wiil be epplied firet to eny�mounta Barrowsr ows�on ths ucund d�bt - , 'st��r��=�.�:_.::.
<br /> exclWlve of Interest a principal,tscond to Interett, end then to principd.If p�rtlal prepsyment of the�ecured dsbt oCaun for �ny mson,It wlll �,,;.
<br /> not reduce ar excuse any aclinJulad poyment untll the aecured de6t is paid in full. ••
<br /> � r,a.
<br /> 2.CIMms Apalrut Tltl�. Borro�er wlll pey ail taxes, assesementa,nnd othor cherges attributabie to the property when due end wlll detend titia " �
<br /> to the property��Aimt eny clslmt whlch would ImWelr the Ilen ot this deed of trunt.Lender mey requlre Borrower to esslpn eny rfeht�, cldm�or � ���•-
<br /> defen�ss whlch orrower may have apalnst p�rtlei who aupply labor or matarials to improve or m�fntdn the property. �'�'•�"'y_
<br /> � 3. Inaur�na. 8orrower wlll keep the proporty In�ured under termrt acceptabte to Lender at Barrower'R expense and for Lender'�beneflt. Ail , Y�
<br /> Insuronce policle�sh�0 include a atanderd mort ape clauae In favor�f Lender.Lender wlll 6e nemed e�loes peyee or es the Inwred on my such .=y,,-�,:�'�w.«�,t -
<br /> • Insurence policy.Any Ineurenco proceede may�e e�piled,within Lender's discretlon,to either the reitoratlon or repalr of the d�maped property �*it�.-
<br /> or to tho eecured dobt.if Lender requiren mongege neurance,Borrower agrees to melntaln euch Insurence foi es lonp ae Lender rsquirei. .,..,:
<br /> -'. 'l Sl
<br /> 4.Prop�rty.Botrower wfll keep the property In good conditlon and make all ropairs rea�ona6ly necessuy. ��,t��k$�'tA"�•
<br /> •"`"'� 6.Exp��s��. Baro�ver apreoa to pay all Lender's expenses,Including reasonable attorneys'fees,Ii Barrower breeke eny covenente In thle deed � �+�„ � ,
<br /> .,-{. �.
<br /> .. 'R of truet or In any oblqation oecured by thls deed of uust,Borrawer will pey theee amounte to Lender es provided in Covnnent 8 0}thle deed of �`�� ' y�
<br /> trust. ".:• ,�tA�CB�Gy.m
<br /> 8. Pda 9tturity Inte��t�.Unleao Borrower first obtalns Lender's writton consent, Borrower wiA not meke or permit any chanpea to eny prior '. �.3��*�'�-_�-•i
<br /> security Intereau. Barower wlll periorm ail of BorrowePa o611getions undor any prior mortqepe, deed ot trust or other socurity aere�msnt, •�;��'"__'-
<br /> inctud�ng Borrower'ecovenants to make payments when due. •�'+-'-"----- —°-
<br /> , 7.Aul�nm�nt of RMts md Prolfts.Borrower ae�igne to Lender the rents and profite of the property.Unlesa Borrower and Lendet have�preed `-
<br /> otherw se In wrRing,Borrower may colleat and retaln the rents as lonp aa Barrower le not in default. If Borrower defwlts,lender, 4ender's �'�!!�
<br /> apent,o►a court appointed recelver mey teke posseasion end manafle the property and colleot tt�e ronte, Any rents Lender colleoto ohall be __
<br /> epplled firct to the cost4 ot managing the property,including court coate and attorneys'feea,commistlons to rentai epe�tt, and any other .=
<br /> ' necessa�y related expenses.The remafning amnunt of rants will than apply to paymunta on the secured debt es provided in Covenant 1. �� ---
<br /> B.L�u�hdd�;Condanlntumr,Plenn�d Unit D�vtlopm�nri.�orrower egrees to comply with the provi�lona of sny le�se if this deed of tru�t i�on �
<br /> o leushold.If thfs d�ed ot truat ia an�unit in a condominium or a plsnned unit development,Borrowor will pertorm ell of Borcowe�'1 dutl�� ----
<br /> under the covenmtt,by-I�we,or repuletlont of the condominlum o►planned unit deveiopment. -_- -
<br /> .`;�,,�� 9. Authodty of L�nde to P�riorm tor Bonower.If Barrower falls to�perform any of Borrowor's dutles under thla deed of trust,Lender may ,.'-':�_:
<br /> perform the dutks or cauie them to be peHormed. Lender may tlpn Borrower's name or pay any amount if neceuary for padormma. If eny ,��_.--
<br /> �+r�`t� conftructlon on the property Is discontlnued or nat aarrled on in a reatoneble menner,Lender mey do whetever is neceasery to protect Lender'• _
<br /> socurlty intere�t ln tM property.Thla may include campletinp the construction. �___
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<br /> Lender's f�llu►e to perform wili not preciude Lender irom exercisinp any of Itc other rights under the iaw or thic deed of trwt.
<br /> 3 i Any emowts pdd by Lender to protect Lende�'s security Interest wlll he aecured by this deed of truat. Such emounts wlll be due on demend �"'-
<br /> .. �nd wlll be�r interest frqm the d�te of the paymont untU p�id in full at the Interest rote In eifect on the aecured debt. Y
<br /> �' 10. D�faiit aod Ace�t�ntlon. If Borrower faila to make eny peyment whon due or breaks any covenants under thla deed oi trust o� �ny ��'-�`'-';�_-
<br /> • oblipetion�ecured by thit deed of lrust ar any prior mortpape or deed of truat, Lender may accolerote the meturity of the �ecured debt md � -
<br /> ` � demand ImmedBte piyment and rnay Invoke the power of sde and any other remedlea permitted by applicable law. �,:
<br /> � 11.R�qw�t far Notk� of D�t�utt. It fe hereby requeatad thet copies of the noticee of default end ede be sent to each person who II a p�tty :—
<br /> hereto, at ths �ddre�t of esch such psnon,as set fonh herein.
<br /> �'� � 1 12.PowN of SYs.It the Lender invokes the power of eale,the T►u8t8e 6h81t fir�t rocortl In the oT4¢e ot the reBiatet of dee0�of��ch county �_�
<br /> � whsreln the trmt proparty or some pan or percel thereof I�eituated a notice af default containfnp the fnformation requlred by I�w.The Tru�t�e -
<br /> chall�Iso mait copiet of the notice of defauk to the Borrower,to each pereon who Is a party he�eto, end to other per�ons�s prescrlbed by
<br /> eppliceble lew.Not lesa than one month after the 7ruatee records the notice of default, or two month� if the trust property I� not In �ny
<br />�•{ . � incorporand c.iry o�v�fape and is used In ferminp operationa oarrled on by the truator,the Trustee ahUl qive pubiic notice of �ele to the psraona
<br /> and In th�manner presctlbed by appplicable law.Trustee,without demand on Borrower,shall aell tM property at publlc�uctlon to the hlyh�st
<br />- bidder. If nquired bp the Fsrm Homestead Proteotion Act,Trustee shail offer the property in two seDarate esle�u raqulrsd hy applic�bls lew.
<br />_ Tru�tee m�y pwtpone sale of all or eny parcel of the p►operty by public announcement at the tlma end plece of any prevlously echsduied tele.
<br /> Lender or lu d�dpnee may purchaee the property et any eaie.
<br /> Upon r�c�Ipt of paym�nt of the price bid,Trust�e shall deilver to the purch�:sr Trustee's deed conveylng ths property.The recitlals contUnsd In
<br /> ' Truit�s'�died ahall be prims fecle evidlence of the truth of the�tatement�conteined therein.Trustee�heli apply the proceeda of th��de in the C'
<br />�.+ followiny order (a)to UI expenaet of the saie, includinp, but not Iimited to, reasonabta Trustee's feee, rsatonable ettansy's }ee� �nd
<br /> relntt�temmt te�s;Ibi to�II sum�secund by thl�deed of trust,and lc)the balance,if any,to the pertont Iey�IIY entitlad to racelv�it.
<br />�� , �, 13.For�down,At lender's option,thli deed of truat mey be foroclo�ed In the menner provide by applicable law tor taroctcaure of mortyaye�
<br />_ �;a , on re�l property,
<br /> `� '� ��"`��� 14.Inap�odon.Lend�r m�y enter the property to incpect It if Lender pives Barrower notice beforahmd.The notice muat state the reuomble
<br /> �'� �'' � ceusa for Lender's intpectlon. _
<br />�.,�r...•„ •�
<br /> •� 16.Ca�dmr��tlon.Borrower assfg na to Londer the proceeda of any eward or clalm for damages co�nected with a candemnetion or other takiny ",
<br /> ,.�t of all or eny part of the propertyr.Such proceede will be epplled es provided in Covenent 1.This eselpnmont le eubJect to the terme of eny prior
<br /> �ecudty�preement. =��-
<br />-P'-- � 18.Waiwr. Hy exercfsinp eny nmedy available to Lender,Lender doea not give up any riphts to later use aoy uther remedy.By not exercbinp �.�
<br /> � _ .t any remedy upon Barower's default,Lander daes not waive any right to later consider the event e defeult if it happens epefn.
<br /> ,.�, . 17.JoIrN�nd 6�vK�1 Li�bllitv;Coalqn�ra; Suee�tson md Attlyni Bound. All dutlea under thia deed of trust nre Jalnt end eeveral. Any ��
<br /> . �" i=- Borrower who co-tipna lhis deed ot truat but doas not co-algn the undertyIng debt Inetrumentlal doea eo only to prent end convey thst �;
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<br /> _,,�. �,,,,;. .. Borrowsr'�Inteust In the property to the Trustee under the terme of thfs doed of trust.in edditlon, tuch e Borrower agreeo thlt the Lender end �-
<br /> . ,�, eny oth�r Borrowar undsr this deed of truet mey extend,modifv or mske any other chenges in the terma of this deed of t►u�t or the�ecurod �;_:
<br /> �•- � debt without thlt Borrower'a aonsent and without reieeslnq that$orrower from the terme of tMa doed ot truat. :
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<br />_ ' The duties end benefita of thia deed of uust ehall bind and benefit the succeasora end esslgns of Lender end Borrower. _
<br />- 18.Not�la.UnNts olherwlee rsQuired by lew,any notice to Borrower ahail be given by dellverinp It or by mafling it by certified meil eddressed to `�°�"�`-
<br /> Borrower�t tM pr rty addresa or eny other address that Borrower has given to Lender.Bcrrower will pive eny notice to Lender by certifled :�
<br /> mafl to lender'�ad�sa on peqe 1 of this deed of trust,ar to any other addresa which Lender hes deaigneted.Any other notice to Lender thsll
<br /> be sent ta Lender's eddress as etated on page 1 of this deed of truBt. ����a,�::�
<br /> Any notice she0 be deemed to heve been glven to 8orrower or Lender when given In the manner etated above. ��^'v�■���'�
<br /> ri';i�t7:
<br /> 19.TrwnitK of th�Propxty ot� 8e»1lciat IntNaat in ffi�Bnrrow�r.If ail or eny part of the proparty or eny intorest in it is sold or transferred :„a�;; =�
<br /> wlthout Lender'� prior written oonsent, Lender mey demand immedlete payment of the seciued debt. Lender may elao demand immedlete ,,:-
<br /> payment if the B�rrower le not a naturei peraon and a beneflciei Interest In the Borrower is sotd or transterred. However,Lender may not � ��%��'�ar�
<br /> dem�nd p�yment inthe ebove situatlona if ft la prohlbited by federei law ea of the date of thle deed of trust. , �� '`
<br /> 20.R�canv�ymc�.When ths obtipation eecured by thlt deed of trust has been pald, and Lender has no further obligatlon to meke edvances ...� `;, �
<br /> I m n t or s re emen ts e e c ure d b thla d eed ot trus t the Tr u s t e a eh ail u on wri tt en re ua s t b the L en d e r r c o n v e t h r .����� .
<br /> under the nsVU e t g y . , p q y e y e t uat
<br /> proparty.The lender sh�ll deliver to the Borrower.or to Borrower's suaceasor In intereat,the trust doed and the note or other evidence of the ' :'��� ?'=
<br /> •. � • oblip�tion so aetlsfied. Barower shell pay eny recordation casts.
<br /> -• � 21.Succ��sq TrwtN.Lender,.et Lender's,optlon, mey remove..Trustoe end appoint e succeseor trustee by firat, mailing a,copy_of the
<br /> "^'--"� 6u�stilution ot uuaive as reyuirou oy apyiivame�aw,ana tnen,qf�iinng iiie au�aiiiuiion oi uuaiee ior rocorn in in�oii�ce vi ine ragiater ot deode -- -�-- -�---- � �� -
<br /> of eech county In whloh the trust property,or eome part thereot, ie eltuated.The succeeeor truetee,without conveyance of the property, ehell
<br /> succeed to slt the power,dutiea,authority and title of the Trustee named In the deed of truat and of eny successor trustee. �
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<br /> EANKERS BYS7EMS.INC.,ST.ClOUD.MN 66701 11•DOO�J97•23411 F011M OCH•MTp•NE B119/81 � .
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