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<br /> y. ��.�p.�r�,S�u�nu�Jen�.+WS�Fa',isirwi•-.:���.�.�.;titi�.rnNtKih�.�!•"'3y4:r:'-:!5'��'.. -•�� � -� . . ----.... . . .. �
<br /> � COVENAN78 97.� '� °—
<br /> 1, p�ym�nU.Borrow�r apnes to m�ke stl payment� on t eMflt wl b�i w�d ftlst to eny�mounts Borrqwa owes on the Racured debi _
<br /> p�ymentt Lends�recelves trom Borrower o� ior Borrowsr i b
<br /> �xcluslw ot lnurut or principd,��cond to Int�r�st,and tfim to princlpal.If p�rt I prepayment oi the secured debt occurs for any reiton,It wfll
<br /> not r�duc�or�xcu���ny�chedubd p�Ym��t until 1h�aeured d�Dt is pald InAll ,
<br /> 2,qakn�ApN�st TMI�.Borrow�r wlll p�y dl uxes,n�esams�ti,and oth�r ch�rpes attribuuble to theproperty when due and witl dNend title �:_
<br /> to the pop�rry a9Un�t�ny clalms whlch would Impalr the INn of this daed of trust.Lsnder m�y require Borrowe►to a�sipn eny righta,olalms or
<br /> d�t�na1 wNch 6arow�r m�y hav��p��ntt partl�s who aupPly I�bo�or m�tsrid�to Improv�or mdnt�ln the propsrty
<br /> ��_'
<br /> 9,k�a�x�nc�,Borrowsr wiil k��p tM propatY Instx�d u�dN Rum� �ccept�bN to L�nder�t Borrow�►'s�xpens�md for Lmde's Mn�fit. All __
<br /> imuranc�poUclss thall Includ�a standard mort{1�fla clause In fava of Lsnd�►.Lendn wiii b�nam�d aa losa p�yee or at ths insund an a�y wch ___
<br /> � Infura�x�pad�1►•Any inturanae procaodc m�y bo n�pllad,with�fow�r�eQ efes to maintaintwchhnsunncetfo►es lonq�e�Lorxle 8 equue P�operty -
<br /> or to tM secund d�bt.If Under requkes mort0a0a nsurana, :-
<br /> '�� 1,proq�rty,Bor�ow�r wiil k�sp th�prop�rty in pood condition and mak�all np�ir�n�sonably noc�uary.
<br /> 6,Exp�s.8o�row�r��re�a to pay all Lendsr's expanses i�cludfny reasonabl�attorn�ys'fees,if Borrower brs�ks any aovenants in thl4 dsed , �
<br /> of trust ot in�ny oblip�t on secured by this deed af tru�t.�o►rower will p�y thess emount�to Lander at prnvided In Coven�nt 9 of 1Ns deed of
<br /> trust. �
<br /> ; 6.Pria S�eulty MKWNtt•Uniess Bw►ow�r first obtdns Under't writtsn contsnt,BorrowK wlil not mak�ot permit my chanQes to any pdor _
<br /> � ' " �nciudtnp�Borr w1r's covenanta�topm+ke paym nts wMn duioblipation4 und�er any prior moRpape, daed of truat or other cecurity�areement, �
<br /> • 7,Asilo�na�of R�ntf�nd Prcfits•8orrower asslpns to Lenda the renta and profits of the p►opsrty.Unlesas Barrower and Lendar have epreed
<br /> otM► (is in w�idnQ. Bwrower may coliect and retain the renti as lonp as Borrower is not in default. If Borrowe► def�ults, Lendor, Lender's
<br /> apsnt,a a court appointed rseeiver may t�ks possestion and marope tho pr�perty snd colleot the renta Any rent�Londer cotieets nhell he
<br /> . necesiirYS dated expensesfThe remslnlnp amount of renti will then appiy to paymenta on the secured debt es p ovided in Covena�t 1,�Y other
<br /> � f s.���.C���p��y�d�dt p�vNoprtNnL.Borrower� rees to cr,mply with the provi:ions of any lease if this deed of trust is on
<br /> under tMSeonnanti by laws,�or repulations of tM condomin um or ptannad unk oivilopmint�t,�rrower wlll perform ail ot Barrower's duUes _
<br /> , � g qutl�o�ity uf �«Kl�t tu pwform{o► gortow��. If Borcow�r f�ile to�orm any of Borrower's dutiss undar thk deed of uust, L�nder may
<br /> uf p
<br /> '���T const�rmuction o�the�pr�perty la dlacontinued or not car�rfed on U i ieaaoneble�mannert,Lenderym Y do whrt�verafs�necesaary Lo�protect lender s
<br /> ` security intaresa�n the property Thls may include compleUng the conetruct�on•
<br /> 1 .,V Lender's fa'iure to peAorm wii�not precluds Lender from exercising any of Its other riphts under the law or this daed of hust. �-
<br /> , end will�beir in�e�est hom he dete�of the paymsm untll+peldin tuil at�th�e intorestdate In ieHect on the securad debt unts will be due on demand =
<br /> �p, p�{��nd Acc�atla�, I} Florrower talls to make�ny psyment when dus ar bre�ks any covenants unde�this deed of uust or any
<br /> oblipatbn acur�d by this do�d of Kust or any prior mortp�p�or deed of wst,Lender m�y ecceler�te the msturity of the secund debt and
<br /> �� d�mand immedim payment and may invoke the power of aele+nd any othor remedies permitted by applicabls law.
<br />„ 11, q�quNtfor Notk�of D�fault.It ta hersby requsated that copiea of the notices of defeuit end eelo be eent to each persan wla is a p�rty
<br /> -- - iroroi4,+¢Y�'�od3s.^,::ot saCh sueh g!�rann;,�R aet torth herein.
<br />_ � 12. Poww of S�M. If ths Le�der invokss the power of �de, the Truatse shall fint record in the office o}the repfstu of dsadt of e�ch county
<br /> . ` t'�;; whenin th�vutt qrope►ty o►toms part or parcel thsrsot i�sitwtad a notice of defauk contafnio e eto�end toi othe�persons is p�i��cdbadtby
<br />;:., '''•�•' chall�Ico m�ii copie�of the notice of defauft to the Bortowor,to each peraon who is e party� �not In eny
<br /> '�°'�•� applic�ble Uw. Not Ie�s than one month efter the Trustee recordi the notica of default,or two montha it the trust property 1
<br />-�=•"^�.���r ��%<,� incorper�ted eity or villaye�nd i�u�ed In farminy operations carded on by the tru�tor,the 7ruatse shelt give publat �ubiio auetiontto the hiyhest
<br /> and �o the m�nna pntctlbsd by_�ppPlic�bl�I�w.Tru�tee,wWaut demand on Borrower,ahnll sell the property p
<br />.`•"J 6ldd�r.If tpu!nd by th�Fnm Homestad Protection Act,T�wtee�hall oHar the property In two ssparate sale�ae requind by spp�icabls I�w.
<br /> ���','�6'_• ,�a� TrustN m+y Po�pQne s�b of+�II or�ny parcN of ths proportY by pubito announcement at the time and place of any provfoutly scMdubd ale.
<br />=��•;±�,�:,,, UndK or iq da�iQnee may purcha:e the propertY at any aale.
<br />=i�' .
<br /> �� � ,�• � Upon roceipt of p�Yment of the prlce bid,Trustes shell dellver to the purchaser Trurtee'a decd conveyin�the propsrty.The rocitiata corrtein n
<br />�•-,, ,�. .,..,„ 7russu's dNd ths7i he prima f�cie evidience of the truth of tiv�statementa coMeined thereln.Trustee shall�pply tM proce�ds of the aab In the
<br /> followinp ads►: (s) to dl expenns of the sels, Including. but rat Ilmit�d to, n�somblo Trust�e'� �ses, roason�bls attarneys tees and
<br />:;;� ninsUt�mwt fe�e;lb)to dl aums tecund by thit de�d of tru�t,end(e)the bd�ncs,if any,to ths p�rwns tepally s�Utisd to rocsive it.
<br />---m -`.• 13. Fonelowr�.At Lender's oPtion,thi�deed of trust may be forecloaed in the manner provide by appileoble law ta forealosure of mortpayes
<br /> �-`�;�:.;�a on nN propNty,
<br /> .,,,..:�=:t"'�
<br />_,,,.�,,,n,� �4, 1n�p�o� l�nd�r m�y�nter the propertY to tnsDect it if Le�der glves Borrower notko beforehand.The notice must st�te the re�ton�bl�
<br /> -_. .-• � caua of r Lmdir's intpoatlon.
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<br /> 1 fi.Cood�mnatlan•Borrower esai Qns to Lender the�oceeds of mny award ar ctalm tor demege�s esaipnment ist eub�emnetion ar other takinfl
<br /> �-°�-�r i of ell or any part of the property.Such proceeds wf 1 be apptlad aa provided In Covenant 1.Th ject ta ths term�of eny prior
<br /> �""�� aacurity apeement.
<br /> y�;'�� 1d.yYa{v�r.By exerclsing any romedy avsilabie to Lender, Lender does not piva up any rlghts to latsr use any other remedy.Ay not exerci:iny _
<br />--��� any remedy uyon Borrow�r s default. Lsnder does not w+ive�ny ripht to Iator consider the event a defauh ff ft happens apein.
<br /> ,r_.+�v=;,.t`�
<br /> --- r<-•s� 17, Jotrtt�nd S�vKr Li a b i l i t v: Co•styn�n: Suce�uw�and Assipns Bound. All dutiea under thla deed of wst�ro Joint�nd ceveral. Any
<br /> �r Borrower w h o co-s ip n a t h i a d e e d o 4 u u a t b u t d o e i n o t c o•�I e n t h e u n d e r ly 1np d e b t I n e t r u m en t ls) doea ao oni y to qrant and convey tfist
<br /> -,��:�� Borrowsr9lntKest in Me propeKy to the Trustee under the terma of thl�dee d o i truet.In addition,eueh a Borrower ayroes t h�t t h e Le n der�n d
<br /> ":�����+ ., eny othar Borrower under this de�d of tru�t may sxtsnd,modi�or meke�ny other chenyas in tfie torms of this deed of nutt a the tocurod
<br /> -���,•�� debt withart thwt Borcower'i cons�nt and without releaslnp tMt orrawsr from ths terms of this deed of truat.
<br />,_�-,:rP�'.II.'_ The dutie��nd beMiits of thle deed ot vust ahail bind and bonefit the aucceasors and asslpns of Lender and Borrower.
<br /> ' ' '" 1 B.Nodc�,Unle�a othervvise tequlred by Iaw,any notice to Barower shelt be given by deNvering it or by mafiing It by eeRified mail eddreeaed to
<br /> _ :'.y - . � Borrows��t ihe{xoperty�ddreas or any other address thst Borrower has gIven to Lender. Bwrower wlll yive any notice to Lender by certlfied
<br /> bsp�ient to Lend��s�diddnss�s at t�d on��p p�1 of t is d ed of N�y�ther eddress which Lender has deslgneted.Ar+y other notice to Lender shall
<br /> Any notic�ahell be Qeemod to have been given to Borrower or Lender when given in the manner stated abova.
<br /> � 19.TnrnMr of eh�hup�rty w�i�11da1 k�tK�st�n th� BarowM. Ii eIi or eny pert of the propertv or eny Intereet in it ia eold or t�ansterred
<br /> without Under'e pr(or written coneont. Lender mey demend immedlate payment ot the secured debt. Lender mey elso demmd Immediete
<br /> dem,nd prym nBin the abovs situationi if ii is�prohibed by�erel lew as of the date of this deed�of trusLnsfened.However, Lender may not
<br /> �' 20.R�com�ymc�•When the obllpation eecured by this deed of uust hes been pald,and Lender has no further obligetlon to meke edvances
<br /> � under the hatruments or agreementa eecured by thls deed of truat, the Trustee ehall,upon written requeat by tM Lender,reconvey the truat
<br /> •'- �� p�o�erty.The Lender ahd!deiiver to the Borrower,a to BorroM•er's succeasor in interett,the trust deed end the note or other evidence of the
<br /> •� obiqition�o tatistied.Borrowar thall paV�ny rocordation co.�.•
<br /> --- -- - - _ .r ti..1�._� mO{IIM �rnnv nt tha
<br /> � 21.Sucatsor TnatN. lender, at lenuers opnon, me remo+e Tru.ie: o�N aM�.c.�s,a -••;.--__� «... _ �
<br /> aubaitutbn of austee aa requlred by applicable law,end t�ien,by filing the sub�titutfon of trustee tor reeord�in the otfice of the reglntei ot deeds
<br /> succeed to Ilihe power tdutleaaeutha it�y end titlo oft M Trust e nemedafn�the deed o Vsuet a d of anyfsuccessorYtf ustee,of the property,ahell
<br /> rP,y.2 0l?1
<br /> . - ,� OqyKE1�gxgTElAg,IHC.,ST.CIOUD,MN 66001 11•l00-39743N1 FORM Ot��MT6NE 6�18J91 _ _ _
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