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<br /> COVENANTB T'I'j''���i'y
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<br /> _�.._......�.. .. ...:�..a�t
<br /> ��},�p�y tilsr eptoDS to meka nll �Nymente on the eecureA debt when dua. Unleea Dorrqwor nnd londar e{�r�o�� �ny
<br /> f m� T�oef � (rortl Borrqwer or or 8orrower'o benatit w111 be epplied firat to any ampunts Borrower owe�on the eaaured debt , ,�•r.,,•
<br /> �K ��y��Mp(ap;pr,prinqlp�r,�econd to Intarsst,�nd then to principal.If partlal prepayment of the aecured dnbt oacun for any rnason, It wlil ?- "
<br /> o1•ir����o1}�e�rly sch�dulaA payment until the tscwed debt le p�ld In fuil. �-
<br /> 2.Cldm�A .�Borr�er witl p�y�11 Uxs�,�uea�menn, �nd other ch�rpei ntributsbls to ths property when dun nnA wlll del�n� Ntle „ � �' %'�'.�`�
<br /> to th�prop�rly�Odnst�ny cl�mt whioh would Impalr the Ifen of thl�doad of trutt,Lender m�y nqulre Sorrower ta�s�lpn any rlpht�,cl�lm�or
<br /> ddmu�whlch 6orrow�r m�y haw�p�ln�t panle�who supply I�bor ar m�talat�to Improv� or malntaln ths property. •:.i;iy.�,:;;�:�t,,��
<br /> 9.Imunnr.s.Bmrower will keep the property Insu»d under Urm� �ccept�bla ro Lendo et Borrower'� expense and for LenAm'i bnn�fit. All
<br /> Imur�nt�polltl��thall Inciud���tmdud mortyape cl�us�In frvor ot Lsnder.L�ndu wlll bs n�m�d��la��p�yse or as thn imur�d on my�unfi • � ��y,�-
<br /> In�urana polioy. Any Intunncs praca�d�may bs �ppll�d,within L�nda's dl�cntton,to Nther ths rntoratlon o►np�lr ot ths dnm�ped prap�rty ;1��i��o��'�►�s�,.
<br /> or to tM�scund debt.If Lond�r nquin�monprpe Inturance, Borrowar apns�to mdnt�ln auch Imurence�or u lang q Lender raqulret. ` �` �- a°"����
<br /> t �:��- .�;. .,*•`�7a.,.
<br /> ,_„�•� 4.Propaty.Bonawer wlli keep th�prqperty In pood conditbn end mnke nll repalrs ressonebly neceee�ry. ��,��+4 y (;���:
<br /> ' d 6.Expmw�.Borrower ayrae�to pay all I.ender'e sxpense�,Includinp rnasonpble ettomey�' feet,If Barrqwer breaks any cavennntA in this deed `,;,;.,��. f_ �.1�`��+
<br /> �'.�� �
<br /> ot trust or in my obllpatfon eecured by thla deed of tru�t.Borrower will pey these emaunta to Lender ea provided In Covenent 8 of this deed of :.�ti� ;,�,.$�'��;�;ii�;_�:_--
<br /> . trunt. ',r,,�i;.:=..=�—
<br /> e.P�la 6�curkv Int�n�t�. Uniese Bo�rower flret obtaina Lender's writtan consent, Borrower wlil not make or permit eny ohl�npeo to eny prlor ;�;'y=!�''`'`'-�
<br /> eecurlty Interos�a. Borrower wiil perform all of 8orrower'e o611getians under eny prior mortgnge, deed o}trust or ather securlty agroament, -_
<br /> Inciuding Borrower'a covenent�to nake paymente when due. ��`��-
<br /> 7.As�ipnm�nt of R�nU�nd Proflu.Borrower assienc to Lender tho renta and profits of the property.Unleas Borrower and Lender h�ve agreed :�'r.;�
<br /> ' otherw�f e in writinp, Borrower mey collact and rotein the rente as long ae Borrower Is not in defauit. If Borrower dafauite, Lender,Lender's ;:,Ky;�`
<br /> apent,or s court appointed rocelver may take pos�easlon and manage the properry and coilect the rents.Any rente Lender colleota�hall be __
<br /> " xpp8ed firat to the coste ot manaping tho proporty,Includin9 court coate end ettomeye' tees, commiaelons to rentnl eg_ents, end eny other =-�_ _�__.
<br /> .�,`� neceseary reNted axpentes.The rematninp emaunt of rent�wili then eppty to payments on the secured debt as provid�d lo Covonant 1. _- _
<br /> ��. 8.L�a�Niold�•Condominlums;Pi�nnad Unit Devdu►xn�nt�,.Borrower agreea to comply wfth the provfclons of any leace if tMs daed of truct it on `.�;,�—
<br /> � a leaeehold.I�this deed ot trust la on a unit In a condornnium or e plannod unit development, Borrower will perform all of Barrqwer's duties _' u -
<br /> under the covenante,bylewa,or roputtrtiona of tha condaMnium or ptennad uNt development. `'r�
<br /> � 9.Authaity of L�n�ler to P�rtorm tor Barr�w�r. If Borr�wer fails m parform any of Borrower's duties under thb daed of truct, Lender m�y .-.
<br /> per(orm the dutfes or aause tham to be performed.Lender mey aign 8orrowor'r�name or pey any omaunt if nacessary for perfnrmt�nce. If any _--
<br /> � construction on the property is diccontinued or oat cnrried on in e reesonable mflnnor,�ender mey da whatevor is neaeasary to prqtaat 4snder's �
<br /> ��(e security interest in the prqperty.This rnny include compl�+tinp the construction. {t=„�..
<br /> �"'• Lender's failure to perform will nat proclude Lender ham exerciaing eny of ita other riphta under the low or tfifs dued of tnut. v
<br /> .� Any amounte paid by Lender to protaet Lender's security Interest wlll be secured hy this deeei of trust. Sueh amounte will be due on demend �',W.;�_
<br /> and will bear Interest from the dMe of tho payment until pefd in full at the interest rnta in effect on the secured debt. �.,�"�,�"_
<br /> . ,�.�;�t�
<br /> 10. O�f�ult�nd Aaeel�ration• If 8orrower fails to meke eny payment when duo or brnaks any covenante under tlils deed of truat or any
<br /> � oblipatton secured by this deed of ttust or any prior mortye8e or deed of trust, Lendor mey eacalerate the maturity of the secured debt and _ - —
<br /> demand Immedlate payment and may invoke the power of tele end eny other remediea permitted by appifcable Isw.
<br /> ` 11.R�qu�st fo►Notla�ot wtaiNt,u +s nereby requested mai copias ofi the nocices oi dafauit and saie ba sant to eacn person who it s parry •�
<br /> ' hereto,et the addreic of each such pereon,as set forth herein.
<br /> � 12.Pow�r of Sd�.if the Lender invakes the power of sate, the Trustee ehali tirst record in the offlce ot the reelstar of deeds of each county �� �
<br /> whereln the truet property or aome part or parcel thereof ie situeted a notice of default containing the informstion requfred by lew.The Truetee �� — -
<br /> . ahall alto mail copiea af tne notice of default to the Bo�rower,to each person who ia a party hereto, and ta other pertona aaprenufbsd by -- —
<br /> eppliaable law. Not loss than one montfi efter the Trustee recorda the notice of dafault, or two months it tfie truat property i� not in iny -
<br /> ' Incorporeted cfty or vlllape and la uced in farming pper�tion�carried on by the trustor,the T►uatee sheli give public notice of eale to the persans
<br /> and in the manner preecrib xl by�pppUcable law. TrueteA,without demand on Borrower,ehall sell the property at publlo auctlon to the hfghest
<br /> � bidder.If requlred by the Farm Homeatoad Protectlan Act,Trustee ahall oifer the property in two aeperate selos ae required by applic�ble lew.
<br /> Trustee mey postpone�ele of all or eny parcel of the property by public announcement at the time and place of eny prevloualy scheduled saie.
<br /> Lender or its des{gnee mey purchase the property at eny s�le.
<br /> ., n,
<br /> Upun receipt of paYment of the price bid,Truatee shell de6ver to the purchaser Truttee's deed conveying the property.The recitfala conts(ned In
<br /> Truetee'�deed shall be prima facie evidience of the vuth of the stetements contained therein.Trustee ehali epply tho proceeda of the ede in the
<br /> following order: (e) to eil expenses of the aate, Includinp, but not Iimited to, reaaonable Truatae's feae, reasonabie ettorney's feea and
<br /> relnstetement feea;lb)to ell sumt secured by this deed of trust,end Ic)the balence,If any, to the persons legalty entitled to recelve it.
<br />"��. � 13.Fa�clown.At Lender's optfon, thia deed of truat maY be tareclosed in the manner provlda by eppliceble law tor forectosure of mortpapes
<br /> on real property. - .
<br /> - .. 14. Inip�ctlon. Lender may enter the property to inepect it if Lendor gives Borrower notice beforehand.The notice must state the roasoneble "`
<br /> ceuse for Lender's inspection. �„
<br /> r:
<br /> 16.CoM�mn�tlon.Borrower asslp�ns to Lender the procaeda of any awerd or claim for damagea connected wtth e condemnatfon or other taking =:;-
<br />' ot ell or any part of the property,such proceeda will bo aD0lted ae provided in Covenant 1. This asaignment is subJect to the terma of eny prlor Er.�,
<br /> aecurlty ayreemont. �tx''•
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<br />� 16.W�wr.By exercisinp any romedy ovaila6le to Lendar,Lendar doea not give up any rights to lator use any other remady.By r.ot ezercising �"
<br /> any remedy upan Borrower's default, I.ender does not welre any right to later considar the event e defautt If It happens eqaln. - _
<br /> 17. Jdnt �nd S�v�ral Ll�billty Co•sipnes: Succ�uors md A�sipn� Bound. AII dutioa undor this daed of trust ere Joint and aeveral. Any
<br /> - • �.;.._ Borrower who co•elgna thla deed of trust but dooa not co•eign the underlying debt lnstrumentle) does so only to grant and convey that •
<br />- Borrower'a Interest in the proparty to the Trustee under the terms of this deed of truat.In addiHon,euch e Borrower agreeo that the Lender end --
<br />`~"''•• eny other Borrower under thls deed of trust may extend,modiiy or meke eny other chanpes in the terma of this deed of trust or the secured ' ���W
<br />-� debt whhout that Borrower's conaent end without rele�sirp that Borrower irom tha terms of this doed of trust. f'�.:`_,_,
<br /> . t: ;�.-
<br /> The dutiea and benefits of thle deed of trust ahall bind andbenefit the succeasors and asslp�is of Londer and Borrower. 1 °�'.=-------=
<br /> 18.Node�.Unieas otherwiae required by Iaw,any notice to Borrower shell he yiven by delivering it or by mafling it by certified mail addressed to .:r���-�--�--
<br /> � Borrower at the property addreec or any other addreas that Borrower has piven to Londer. Borrower will give any notice to Lender by ce�tiflod R ��--
<br /> m�ll to Lender's address on pafle 1 of this deed of trust, a to eny other addresa which Lendar has designated.Any other notice to 1.ende�shail '�::��. �r-
<br />- be sent to Lender'e eddreaa aa stated on pape 1 of thle deed of trust. ; .-�M ~},r::
<br /> Any notice�heil be deemed to have been piven to Borrower or Lender when given in rhe mn�ner stated abovc. -' `'�rJ'
<br /> r./nT��.__b_—- �:.
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<br /> 19.Tnntf�r of tM PropKty a�BK»ftelal Int�r�at In th�Borrow�r.If ail or eny patt oi the property or any intorost In ft is sold or tranaferred `�;t•��,>' :-
<br /> wlthout Lender's prlor written conaent, Lender may demend Immediate payment of the secured debt. Lender may also demend Immediete � '=�' <�
<br /> payment if the Borrower ie not a natural pereon end e beneficial Intereat In the Borrower le sold or transferred. However, Lender mey not �',� �`:
<br /> . demand payment In the above Bitwtions If it fe prohlbited by federel tew as of tho dete of this deed of trust. ,`:�� .�,
<br /> - , { T0. R�conv�y�nc�.When the oblipation�ecured 4y this deed of trust haa been paid,and Lender has �o funher ob�fpation to make advancee � . �'i�?`.'�� •
<br />= undsr ths inttrumente or eproements �ecured by thit doed of trust, the Trustne shall,upon written request by the Lender, reconvey tha tmst - - ..
<br /> - ' property.The Lender ahell deliver to the Borrower,or to Borrower's successor in Interest, the trust deed end the note or other evidence of the � .
<br /> ---- _ .. . __._.,_.. .,-_-•••---�_�._..._.....___..,_w.....,.._.. - - -
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<br /> -- -- �- om�gatron avwasnw.w..o..o..��o. -..__ .. -�-------.-_._.- __ _.
<br /> = I Z1. Succ�ua TrustN. Lender, et Lender's optlon, may remove Trustee and appoint a successor truatee by lirst, mailing e copy ot the
<br /> i eubstltution of trustee�s required by epplfcablo law,and then,by filing the substftutlon of trustee for record in the office ot tho register of deeds
<br /> _ of each county in which the trust property,or some port theroof, IB bituated.The aucceasor trustee,without conveyance of the proporty, ahell ,
<br /> succeed to all the power,dutles,nuthority end title of the Trustee named in the deed of trust and of nny successor truetoe.
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<br /> � /Pige 2 0/21 ;
<br /> � DANKEqS 6YSTEMS.INC..S?.CLOUD,MN 68301 1f�600397�23411 FORMQCP•MT6�NE 6�73/97 �
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