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<br /> COYENANTS (�,"rw 1� , �,,,,,�.q;,,x�...`-,`:_�
<br /> 1, P�ym«+ts. Borrower eqree�to meke ell �aymentt on the necured debt when due. Unlett Borrowar md Lender spres oth�rw�e, �ny _
<br /> payment� Lender receive�liom Borrowe►or or Borrower't beneflt wfli be applled first to any�mounts Borrower owe� on th� ��cund d�bt �
<br /> exclusrvo of intereet or princlpal,second to Intetest, snd then to pnncfpal.If paninl pnpeymsnt ol the necured debt occurs tor any r�ason, it will i '�
<br /> entun� red dabt ie peid in full. �
<br /> nat reduce or excuee env�� � �a�PWm h14", •r��
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<br /> 2.CINm�ApMnst TI �.6otrowu w p�Y I���t�x�1:A�se I onn�f tMS deed o}t uatp Lenderumay'requlre Borprower oheu 8n any riphttl.9c�elme��o� :.,_
<br /> to the prope►tY ey d t aryl cL+M� w�ksh v+Qu��l b�ip�yf �P�y�pbor or mMerlal�to Improve or meintain the propeny. -:
<br /> defensae which Borr wer�nA�fi�ve�qh�n�t pertiea�Wfi� � �
<br /> 3,InstuMe�. Borrower wlll icbp the property insured under tarme acceptable to Lender et Borrowor'� oxDense and for LenAer's beneHt.All �►'
<br /> Imuronce polictes shnll includa�etandard mortqep�cleuae in fevor of LenAer.Lender will be nemed��loa�payee or a�the�nsured on any such ...-•-
<br /> Inturance policy.Any i�eurence praceeds mey bo appllod, wltMn Lender's discretion,to efther the restorotion or repalr of the dam�ped property , �,
<br /> or to the eecured debt. II Laradw rsquirec mortgupa Insurnnea,Borrnv�or nfl�ees to maintnin eueh insurance for es long aa Lendor requires. _
<br /> 4.Propety.Borrower wfll keoplhe property in pood condition and make ell repairn rqasonnbly necossery. ._
<br /> ,� 6.Exp�na�.Borrower apreesto pny ali Lender's expensea,includinp reasonabla rnnmeya'fee�,if Borrower b►eaks any covanente in thia dead =_—
<br /> ot trust or In any oblipetlon secured by thi�deed of truet. Barrqwer wiil pay thess ampunte to Lender e�p►ovided in Coven�nt 9 of thf�deed of
<br /> trust.
<br /> 8.P►Iw S�au�ity Int�r�stt.Uniess Borrowor firet obtalns Lender'a writtAn conaent, Barrower wri�� not make or permit any chenpea to any pnor .
<br /> includinpj6orrower e covenent�It pmnke peymenie�whenerd'�e obligatiana undAr any prior mortg�ye, deed of trust or other security agreement, - _ —
<br /> 7,psalawn�M of R�nts�nd Profifa•Barrower aselpns to Lender the ronts and profite of the property.Unlesa Borrower end Lender have agreed ��r'._�.
<br /> otherwfae in writing, Borrowa rnaY coilect and retain the ronte as iong as Borrowar �e not fn defeult, If Borrower defaulte, Londer. Lender's -.
<br /> ' agent, or a court eppointed recei�er may take poscession and �nanage the propertY�nd colleet the rents.Any rents Lender collaats shall be :. . _
<br /> app�iod firot to the coste of managing the proporty, including court coetn end attotneVs' feea, commfscions to rontel agente, and any other ;,".,
<br /> necoaeary releted expensea. The�emeining emount of rents will then applY to pe+Ymente o�the securad debt as prov�ded in Covenent 1. : �.,t
<br /> 8.l�a��hddr Condominlurns:Plsnn�d Udt D�v�lopm�nt�.Borrower agrees to comply with the provisions of any lease if this deed of trust 4 on •� �S`_ra:,
<br /> ' a leesehold. I�this deed of trust is on a unit in e condominium or a planned unit developmonL Borrower will parform ali of Borrower's du[ies r�'�
<br /> " under tho covonanta,bylawa,a •ep�detinns of the condomintum or plenned untt devolopmont. ,•�s�;fy:
<br /> 9.AuthakY of L�nd�r to P�rloreYl fa Bottow�r. Ii Borrower tplla to periqrm any of Borrower's dutfea under this daed of trust. Lender may ;���;
<br /> . perform the dutiae or cau�e them to be performed. Lender mny algn Borrower's�Mn�or pay�ny amount if neceszary for performance. If�ny c���.:.:.
<br /> constroction on thn propeny i�discontinued or nat cerried on in e res:onable menn�r. Lender m�y do whatever h neceasary to protect Lender's •„�:
<br /> "' security interest in tl�e proparry•Thla may inaludo completing the constructian, -
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<br /> Lender'a failure to perform wiu not preclude Lender from exercielnp eny ot its other�iphts under the law or this doed of truat. ::';',M.�._
<br /> � �, and w 11 bea�int�ireatYf om thedflte�of the payment until pefdin fuli etf theeinteresi�rate in+effect onfthe securad dep�unte will be due on demand ,j`:_�
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<br /> 10. De(nuit�nd AotMK�Bon,If Borrower fails to make any pAyment when duo or breaks any covenants under this deed of truat or any :. �,.:..�
<br /> o6ligetion securRd by thla doed of trust or any prior mortgage or deed of trust, Lender mey accelarete the maturity of the sacured debt and '��i�^:_,���-__
<br /> � demAnd immadiato payment end may fnvoke the power of seie and eny other remediea permitted by appliceble law. r;i�_�_
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<br /> 11. RuW�st fcr NoUc�of�dwk.�t is hereby reque¢ted that copies of tho notices of defautt end sele be sent to eech person who Is a p�rty �_�:
<br /> herqto,at the eddrosa of each�uch person,as set forth herein. �•"'���
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<br /> ' 1Y. PowK of 5�1�.If the Lander invokos the power of sale,tho Truatoe nhnll tirst recoro m ihe office oi ii�o +eaisiar at dscrSs af aach secnty -
<br /> !,:. wheroin the trost properry or wme part or parcel theroot fe situated a notice of defeult contaiNn the information roquirod by Iaw. The Trostea F.
<br /> ereto, end to other persona ee reecribad by -
<br /> shall also mall copies of tho mtice of defeult to the Bo�rower,to each peraon who is a party --
<br /> �+ epplicable Iaw. Not lesa than o�e month efter the Trustae recorde the notice of dofault, or two months if the trust property fs not I�any _� �
<br /> incorporated city or vill�pe and Is used in farming operationa carried on by the trustor,the Truatee shall pive public notice of sale to the porsons — __
<br /> end in the manner preauibed bY �pppifcable law.Truatee,without demand on Eorrower,ehall sell the property at pubiic auctfon to Iicableelaw
<br /> �� bldder.If required by the Farm I-lamesteed Protection Act.Trustoe shali offer the property i�two eeperate�ales as requlred by spp —
<br />' � Trustee may postpone ede of ell or any parcel of the property by publfc announcement at the tinne and plece of eny previouely echeduled eele.
<br /> Lender or ite deaipnee may pachaso the property at any eale.
<br /> Upon recoipt of peymant of 1M prlce bid,Truatee ehell deliver to the purchaser Truatee's deod conveying the pro th proceeda�o�f the aele inthe ^��;
<br /> � Trustee's deed shall be prim�facie evidience of the truth of the stetements contafned therefn.Trustee shali app y
<br /> tollowinp order: In) to ell ezpensea of the eale, fncluding, but not limited to, reasoneble Truetee's fees, reesoneble attomey's fee�and •;�-
<br /> relnstatement feee;(b)to a11 wms secured by this deed of trust,end(c)the belance.If any,to the porcons Iepaliy entitied to receive it.
<br /> 13. Fa�eloar�.At Lender'eoptlon,thla deed of truat may be toreclosod fn the menner provide by applica6le lew for foreclosure of mortgegee
<br />_ an roal property.
<br /> •• 14. Infp�otion. Lender mey enter the property to Inspect 1t if Lender gives Borrower notice 6eforehand. The notice muet state the reasonable
<br /> c�use for Lender'e Inspection.
<br /> `� 16.Cond�rnnetlu�.Borrower�tslgns to Lender the proceeds of any award or clafm for demaget connected with a condemnatian or other taking ='
<br /> of all or any part of the propttty•Such proceoda will be applied as provided in Covonant 7.TNS easignment ia subject to the terma of any prior �-
<br />-.'�� securiry apreement. �i
<br />,�:,.. 1g, W�iv�r.By exerciaing am remedy available to Lender,londer does not give up any righte to later use anV other remedy.By not exerclsing `c__�
<br /> eny remedy upon Borrower'edefeult,Lender does not waive any ripht to leter consider the event e default if It heppene agein. �;__
<br />�. 17. Joint and Sw�i ll�!�ty Co-siprnra: Succa�ors �nd Aasipm Bound• All duties under this deed of trust are joint and severel.Any -
<br /> Borrower who co•signt thii daed of trust but doea not co•eign the undorlying debt Inatrumentls) doe� so only to prant end convey that
<br /> � Borrower'a intereat in the praparty to the Trustee under the terma of this deed of trust.In eddition,euch a Borrower agreee thet the Lender and
<br /> ` debt t thout that Borrower e coneent end without re eae ng thut Borrowe efrom the terms oit Ns deed ofntru t,thia deed of trust or the secured �:- -
<br />- � The dutiee end benetits of this deed of truat ahall bind and benefit the successors and assipne of Lender and Borrower. �
<br />- ���'•i 18.Ntotic�.Unieea otMrwiserequired by law,any natice to Borrower shell be given by deliverinp it or by meili�g it by certifiad mall eddresaed to s!�]4�1Cu„
<br /> Borrower at the prop eity addreae or eny other addreas that Borrower hes given to Lender. Barowor wil!give eny notice to Lender by certiftsd
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<br /> mail to Lender'o�ddres�on Dego i of thls doed of truat,or to any other eddress which Lender has destqneted.Any other notice to Lender shail �'"F�
<br /> ' f be sent to Lender's eddresa n steted on page 1 of this deed of trust. >:���'• � ;:,:'
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<br />- Any notice shuil be deemad lo have been given to Borrower or Lender when given In the mannor stated abova. .... s,i:
<br /> 19.Tnnsf�r of th�Prop�rtY or •B�n�flcld Int�nit in th�Borrow�r.if all or any part of tho property or any interost in it is sold or transferred ..,:fi;.'�'�`:�t�G�';��_
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<br />' withaut Lundor's p�ior wrinen consent. Lender mey demand immediote payment of the secured <le6t. Lo�dor may elso demand immedfata �; ,,��„`..�i,:_�:
<br /> paymnnt if tho Borrower ie not a naturel peraon snd a bonoflcial interest in the Rorrower la sold or transforred. However, Lender may not , , 4
<br /> demend payment in tAe ebore situetiona if It is p►ohlbited by fedoral law as ot the dete of this deed of trust. ,,,�;.
<br /> 20.Reconv�yana. �Nhen iho obllyetlon eeCUred by this deed of trust has been paid, and lender hes no further obiigatlon to mako adwnces �+��'�
<br /> under the Inetrumente or apreements aecured by thia deed of trust, the Truatee shall, upon wrftten request by the Londor,reconvey the trust
<br /> pro�efty.The Lender ahe11 delfver to the Borrower,or to Borrowor's successor fn interest, tM trust deed and the note ar other evidence of the
<br /> oblipetlon so setieffed.Borrowar shalt pay any recordation coete.
<br /> . __ �. e..__�_... r...�... �.�.sr Ar t ender's ontinn, meY remove Truatee and appoint e 6uccossor trustee by first, malling a copy of tha � _ � `
<br /> . . ._ . .-------.:_.�_..ui......•.ti�.�..+..o..,tdn.de .._._ ._._
<br /> substitution of trustee es reWired by app��cable law,end then,by hung tne suostrtutio�oi uvoina�v��o..���••�•�•��•..��-. ...-._�•-•- - -- - - •------------
<br /> � of eech county In which the trust property, or aome part thereof, is situated.The successor trustoe,without conveyance of the propertY,shall i
<br /> succeed to ali the power, dmies,authority and tftie of the Trustee namod fn the deed ot trustand of any successor trustee. �.
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<br /> ' BANKERS SVSTEMS.IHC..Si C LWD. MN 66�01 It 800-797�Y3411 FORM OCP MT6-NE B119/81 _ . �
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