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<br /> � . 3?-3u68�9 ��=�
<br /> COVEHANTa --
<br /> :µ��•�,
<br /> � p�ym�enti Lenderr��celvei�from Bor ow�r or foi Botrowar'�bensfit wi�ll bebappled firct to eny emounts Borrowc�odwoe 9�B0hafsecurod de�dt �. ��
<br /> sxclu�lvs of I�tasst or princlpal,second to Intsn�t, �nd then to princfpal. If pertlN prepeyment of the eecured debt occure fov any reason,It wIU
<br /> , not reduc�or �xcuq anYlRb�yl�,qllil„�„�^t untll th�sscured d�dt I�p�id In fult.
<br /> � 1.CINm�Ap�ln�t . ��'����'tr��h�a�� •ment�.�nd othnr chsr0es attrlbut�ble to the property when due�nd wlii defend titb
<br /> to the p�op�rYy iy al �t •c� Im�w�wk•�fiolfki kr$elr t Il�n o}thl�daed of tr ust.Lender mey require 9orrower to ssslpn any ripht�, cl�ims or ,�
<br /> • d�}�me� which 8ar w� �N(�1f►iilj��klsl.pit(I}�GW�W upply Isbor or m�terlrls to Imprave or maintaln ths property. p.,-
<br /> 3, Insu►sna. Borrower wlll keep the propirty (n�und und�r tarmo ecceptebie to Lender et Borrower'e expenoe anci far Lendu'e benefit. Au
<br /> - Inturance policbt sh�ll Inciud�a�t�nd�rd mortpaye ciruts In favor of Lsr�Jer.Lender will bo namod na loss payoa or as the Ineured on eny euch
<br /> : i.. IMUrance policy,Any Intur�nc�proce�da m�y b��ppli�d,wlthln Undu's dttcrotbn, to sithe the rostoratlon or ropelr of ths d�maped prope►tY i _`_.
<br /> or to the ncund d�bt. If Lender raqulnt mortp�p�Iniurance,Borrower eprees to meintain such inturance for as long as Lsnder nqulrss. f ,
<br /> ��� 4.Prop�►ty.Barrower wlll keep ths property In good condiUon and meka aU ropatr�raaionably neceuary, � 1•_'_�:
<br /> � � � of tFrufPt o��in anVro61lgatlon secured by this deed of�tr�ust Borrower�wlll pey theie amount ta Lender�ee prov d d in Covena tn9 of this deed of a=�_
<br /> . trutt. •`�•, -
<br /> 6.Pr{a Sauritr Inte�stt.Unleaa Barowar first o0tains Lender'a written consent, Borrower wiil not meke or permit any changos to any prlor ;,,j`'-
<br /> � securiry Int�rut�. Borrower wlil perform all of Borrower's obllp�tlon� under eny prior mortpage,deed of trust or other oecurity agreement, .>��.;;.
<br /> Includinp Borrower'i cownantc to make paymsnt�when due, •
<br /> Unleac Borrower and Lender have apreed �'�'��
<br /> 7.As�nt of R�nts�nd Pro1Ib.Borrower asst9ns to Lender the rente and protits of the property. •,;�--
<br /> otherw ae in writinp, Borrower may collect end rot�tn the ronts ae lang ea 8orrowor la not In default. If Borrower defaults, Lender, Lander'e • �_.
<br /> t apsnt,or�cart appolnted roceiver msy Uke posaesalon end menape the property and collect the rents. Any ronts Lender collects ahall he •;�.q,>/��:;�
<br /> ;; applied firtt to the costs of manaping the property, inctudinp court costa and attorneya' feea, eommleeiona to rentel apenta, and any other :�:.•-;-=r-
<br /> � ,�'I
<br /> necest�ry ralated expenses.The remaining amount of rents will then applY to payments on the secured debt as provided fn Covenant 1. ���.,;:..
<br /> f,�.,;:;,r ,
<br /> B.L�ee�fidda•Contbm�niums:Pienned I�nit D�v�lo�mantt.Rormwor a0rees to comp ly with tho prov(slons of anV lease if this deed of truat is on .:�;:S•:;•:,,
<br /> under thelco en��t�byiaws,or reguiatlons of the co dominium or piinned u t�developmsntnt, 8orrower wiil perform all of BorrowePa dutiea �;.;;;,,,:
<br /> �. S.._—
<br /> •n�%�.[t�.
<br /> 9.Autt�ority ot L�nd�r to P�rform for Borrow�r. If Borrowar faits to perform any of Borrower's dutles under thle deed of truat, Lender mey : ,: .
<br /> perform tM duties or aause them to bo performed. Lsnder may slgn Borrower'a neme or pay any emount if neceeeary for porformance.If any ,,,,:`,...
<br /> condtructbn on theproperty le df�continued or not csrried on In s roasonable manner,Lender may do whatever la neceseary to protect Lender't ;.�i_±.;•-
<br /> eecurity intere�t in the property.This may include completing the construction. _
<br /> . Lender's feilure to perform wl�l not preclude Lender from exerciainp eny of itt other rfyhts under the law or this deed of truat. _ -
<br /> end wiit beir�lntefrejtyfrom the date of the payment untiti pald In fuli Atf the�interestdste In�eNect on the secured debt unts will be due on demand ^-
<br /> ' 10. D�fMit �nd AeeM�ntlon. If Borrower faits to make any payment when due or break� any covanantc under this deed of trust or any :•
<br /> oblipation�ecursd by thle deed of trust or eny prior mortpape or dsed of trust,Lender mey accelente ths maturity of the securod debt and �;:-
<br /> demand immedl�te payment and may invoke the power of Qaie end any other remedie�permitted by appliaable law. �:�
<br /> � ' 11.R�qu�a ta Notic�ot o�rwic.it ia hereby requv�ied ihai c3p�ss of!ha r.at!ces of dafe�!�* Anri nele be sent to each person who ia a parry �-
<br /> � r " hersto,at the�ddress of eech�uch person,es set forth hereln.
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<br /> 12. PowM of BN�.if the Lender invokss the power of sste,the Truatee shall firet record fn the office of the teglster of deedt of each county
<br /> T, wherein th� tru�t property or soms part or parcel thereof is situsted a notice of defeuit containinp the Inform�tion required by lew.The Trustee
<br />�..� �hall elso mall copbe of the notice of default to the Borrower, to each person who Is e p�rty Mreto, and to other per�ons as prescrlbed by
<br />-� , applica�ta Isw.Not les�than one month after the Trustae record�the noUce of detault, or two montha It the truot property le not In any
<br /> Incorporated dty or vfllafle and is used in Tarminp operatfons carried on by the truator,the Trustee shall yive publlc notice of eele to the pereona
<br /> =.��.,; .•, , • and In th�memer prescribed by�ppplicebte law.Trustee, without damand on 8arower,shall seli the property et publia auctlon 2o the hlpMit _
<br />=-� •� � , bidder. If requ'red by the Farm Homestead Prot�ction Act,Truttee ehall ofter the prope►ty in two separate�ale�as requlred by applicable law.
<br />� � � ''�''��' Twrt�u nt;y Go:tFanc ss!¢et e!!or enY perce�o}tM r►e{+�nY hy pu611n announcement et the time and place of any previously scheduled s�k. _ _
<br />�`�''%�'"`�'�r� � Lend�r or its d�s�pnes may purchese the property at�ny sele.
<br />:a.;:�1..: �;.i'
<br />-,;��.=�• � Upon r�celpt of p�ym�nt of the prics btd,Trustee shall deliver to the purcheser Truatee'e deed conveyinp the property.The recitfala contUned in
<br />±��: -..-�. Truat�s'�dsed shul be prim�facls svidlence of the truth of the statemento contelned therein.Truitee shall epply ths procesdt of th�sal�in tM
<br />:,`R, � �w followiny o�d�r. (e) to �II expsnss� af the aele, ineludtnp, 6ut not Iimited to, ro�sonebls Truttee's fee�, reasan�ble �ttomoy's fees uid
<br />°��''`�'"��� relnstatement fesr,(b)to eil sumt securod by this deed of trust,and(c1 the balance,If my,to the persons leyatly entitled to rocelve It.
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<br />�.s!':.� ��
<br />"' ?�`�� 13.fa�elosur�. At Lender's option,thU deed of truat may be foroclosed In the manner provide by eppllcebie lew for torocloauro of mortyspet _
<br /> "':'•'%"•'•'�'i�.t on roal proporry-
<br /> y;,._f.�`:"y+cn.
<br /> t,, ;� 1A, Insp�cHan.Lend�r m�y enter the property to inapect it ff Lender gives Borrower notice beforehand. The notice must stete tho reesonaWe
<br /> i;,:..': cause for Lend�r'�Inspeotion.
<br /> 1•;r
<br /> - aS •
<br /> ,�:�!�''�` 16.Co�don.Borrower assign�e to Lender theproceede of any award or clelm for damap ea connected with a condemnatlon or other taklnp
<br />�;4����" . • ot all or any plrt of the property.Such procsede will be applied e�provided In Covenant 1.Thla aasignment is subJect to the terms of eny prior
<br />-"°;�;��._:��: secudty�pre�ment.
<br /> � % • 1d.WMwr. By axercielnp any remedY avellable to Lender,Lendor doea not pive u�eny rights to leter use eny othens amalnY gY�Ot exercisirp =
<br />-�w��;: 'ti.' � any remedy upon Borrower's defeult,Lender doea not wafve eny rlght to leter cons der the ovent e default if h happ Q _ _
<br /> �`�'�`����'- �� 17. Jotnt�d 6�wrd LI�bWtv� Ca�ipn�n: Suec�tson �nd Astipm Bound• All dutiea under thie deed of truat ere joint end teverol. Any �,
<br />---•=xw���,,;,. Borrower wtw co•s►pni this deed of trust but doea not co-si n the underlyinp debt Inavumentls) does so only to yrant and conwy th�t ��-�
<br /> Borrower'� interett In the property to the Truetee under the terma of thie deed of truat. In addition, such a Borrower apreea that the Lender uid �_-
<br /> �n:•.;�. �.
<br /> �-�'�1°`""�'''`�' eny other Borrower under thit deed of trust mey extend, modliv or make eny other chengea in the terma of thla deed of tru6t or the�ecaed �
<br /> ;,:''�`�T�"'-"� debt without that Borrowsr'�conte�t and without relaesinp thet�orrower from the term�of thia deed of truat.
<br /> ..,;V�J', �",_
<br /> Ths dutiet and benetits of thie deed of trust shall bind end benefit the successors end assipns of Lender end Borrower.
<br /> .� •i.: ^ ; � 18.Notia. Unleae otherwiae required by law,any nofice to Borrower ahall he glven 6y delivering it or by maiifng it by ceniiled mell addrossed to �±��•--
<br /> ' '�. r anV other addresa that Borrower hae pivan to Lender.Borrower wftl flive eny notice to Lender by CeKifled �°u=,�
<br /> , � Borrower at the {+roperty addrees o
<br /> mail to Lender's eddres�on page 1 of tF�in deed of trust,or to eny other addreae which Lender has designated.Any other notice to Lender ahell
<br /> be sent ta Lender'�addroae es ststed on pepe 7 of this deed of truat.
<br /> '`�.� Any notice ah111 be deemed to have been piven to Borrower or Lender when given in the menner eteted above. • "",—
<br /> d.._
<br /> 19.Trse�fN o}th�Property or a BsnMci�t lntot�st le th�Borrow�r.H all or any part oi thn property or eny interest In it ia sold or tranaforrod `i',•�%;',
<br /> without Lender's prior written canaent, Lender may domand immediate payment of the securod debt. Lender may elso demand immedhto ��,..;;;
<br /> d mendtpfsym�ent�in the ebove situationsr if fP�s ptoMb ted by federel law es of the daterot thie deed�of truat nsferrod. Howaver, I.ender may not ,;;,;,"
<br /> 20.R�aonv�y�ne�. When the obllpation secured by thls deed ot truat has been paid, and Lender hee no further obligetion to make advances , .
<br /> - under the inetruments or egreements secured by thla deed o}trust,the Trustee shall, upon written requost by the Lender,reconvey the truat �
<br /> �.;.` , property The Lender shali deliver to the Borrower,or to Borrower's euccessor in intereat,the trust deed and the note or other avidence of the �,.:,:
<br /> ,�.�
<br /> _ ._ . _... � ..----- -�-"--°--..._.....w...,..........a ......
<br /> ,-...-"-� � "- OOIIBBLIOn aONtlatltlN.OV��viivi e.�o��yo�a.��.aw...............-.-. - . ,
<br /> 21. Sueaa�or TtustN. Lender, at Lendcable Pew�end then bY fflinr the eubstitutpion of trustee forroco d inethe office of tho�registeiof deeds
<br /> subatltution of truetee es required by app
<br /> -- - eucceed touall ihe power tdutiee6authority end t tie oft he Trustee named In the deed of trust and of eny�successor�trustee.of the property, shell
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<br /> � EANKERS 6YSTEMS.INC.,ST.CIOUD.MH 66301 17�t00387•23411 FOHM OCP�MT6�NE E/19/91 __ _ __
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