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<br /> " 9? 1U'�"�l. �:--_
<br /> r e COVENANTS __
<br /> i 1, P�ym�nt�. Borrower aprsas toamt�ks ail paym�nts on th securod debt whon duo. Uniet� Borrower wnd Lender spree otherwiae, eny =_-_
<br /> paymentt Lender receive fru�n Borrov�(qe,ar fa;�at(ow�� �nailt wfil he applled fURt ta any smount�8orrower oweo on the eecurod debt --
<br /> exciutiv�of Intero�t or prl cip s condfo fnterosL�nd thln tb p►incipal.if paniel prepeyment of the cea�xed debt occurs for any roaeon,it witl ���R��_,
<br /> not reduce or excuae eny�che�le�peyment vntll the aetured debt is pald In full. ; • : :•-
<br /> 2.CIMm�Ap�M�t Tltl�.Borrower will pay ail toxec,aasea�mento, md other charpet attrlbutable to the roperty when due end wili defend tltle .�;-;,
<br /> .n
<br /> to the prope►ty■�aelnat any cldms whlch would Impalr the Ilen of this deed of tru�t.Lender mey rtlquire orrower to baNpn�ny riphta,cleims or L�;�� �:
<br /> defenses which Borrower may have ap�fnst p�rtlee who auppty labor or materials to improve or melntatn the property. ,L��*.,
<br /> 3. Inwnnc�.Borrower wHl keep the property Insured under terme accepteble to Londer at Borrawer's expen�e end for Lender'e bonefit. All 'a.+:":-
<br /> ' fnsurance poiicles sh�ll include a standard mortpape cinuae In favor of Lendet.Lendsr wUl he mmed at ios�pay�s or a�the Inaured on my such ;•���+�•`
<br /> � Inaurence policy.Any inwrance procnede m�y be epplied,within Lender'c discrotlon,to stthsr the restoratlon or rapeir o4 the dam�ped property "�''-
<br /> � a►to the�ecured debt.If Lender requlros mortgage insurance,8orrower egraee to maintafn euch Insurance lor ae lonfl ee Lender requlrea.
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<br /> � 4.Propwty.Borrower will keep the property In pood co�dition and make all rep�iro re�sonably neceRSrrY. ;
<br /> �"'Oi�f 5.Exq�nta.Borrower u0rees to pay all Lender's expensea, includinp reasonable sttorneps'feea,if 8orruwer breeks eny covenante in this desd '�--- -
<br /> ,��rrd�3 of trust or in any obllystlon secured by thls deed of trust.Borrower wiil pay theze amounts to Lende►as provided in Covenant 9 of thia deed of �^::-
<br /> -. �� 1 trust. _——
<br /> � � 8.Pdot Becuritv Int�retts. Unleas Borrower firat obtains Lender's written consent. Borrowor witl not make or pormit eny chenpes to eny prlor c --
<br /> security inte►e��s. Borrower wlll pe�form sll of Borrower'a obligationa under eny prior mortgege, dned of trust or other aecurity �greement,
<br /> ' . � ' includiny Borrowe�'c covonantn to make peymente whe�due. � ..__ -
<br /> ! ?.Aaip►���af R�nu�nd Protit�.Borrawer essigns to Lender the rents and proflta of the property.Unieas Borrower end Lender have egreed
<br />- . ,4 � otherw a�e in wtitinp, Borrower may collact and retain the►ents as�ong es Borrower is not In default. If Borrower defaults. Lender, Lnnder's
<br /> agent, or a court appointod receiver may tako possession and manege the property and collect the rentt. Any rents Lendeer coilents shall be
<br /> � n e c et s s arye e l a t e d e x p e n e o s fThe remsininh g amount of rents will then apply to payments onithe secured debt as provided in Covunpn d1any other
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<br /> 8.LNSN�oldr C«idornN�fum�:Hi�r�d Udt D�wlopm�nt�.Sorrower aprees to comply with the provialona of any lease if thie deed of trust ts on
<br /> � undesthe�covem�u by laws or repulations of the c ndom ntium or pianned unR devaiapmentnt, Borcower wfll perTarm ali o4 Borrowsr'a dutiea `
<br /> �' 9.Autho�ity of L�nd�r to PKMrm for BorrowK. If Borrower failt to perform sny of Borrower's duties under thla desd of trust, Lendsr may
<br /> �� cona�tructio on�the prroperiy ia discontinued or not c rried on in a reasoneble�manner,Lender ay do wh tever laene ec�sf ery to protect Lender's
<br /> security interest in the property.This may Inciude comptotinp the consuuction. _
<br /> <�� Lender's taiture to pertorm will not preclude Lender trom exercisinp any ot ita other ripht�under the law or this deed of trust.
<br /> antl w II bea rinteire t�iromt he daLa�ot the paymeM until paidtin tull dti the�l�terestr ate in�effec�t onf the secured debt unts will be dua on demand
<br /> 10.D�twlt and AccMKaUae. If Borrawer fails to mrke eny payment when due or breaks any covanant6 under this deed of trust or eny -
<br /> � delmind Immediat paymentind m y Invoke the power of sale a d any otheu emed esdpermitted by'applici le awurity of the secured debt and
<br /> hereto�et�the addresa of eachfsuch�peraonr asyset4fortheherein,copies of the noticea of default and sale be sent to eech person who la a perty
<br /> 12.PowN of SW.it the�erxier invoices ine puwo�u�b'slu�ii��a Tr�siaa sba!!f}rLY!EL'OfQ ER iftB off�rp a�the rogfster of deede of eech county
<br /> a,•.� . whersin the truct property or some part or parcel thereof is a(tusted a notice of default contalning the f�fwmation required by law.Ttn Trustse
<br /> shNl aiso mail copies of the notice of default to the Borrower, to each pereon who is a party hereto, +nd to other persona sa rescrl6ed by
<br />- - � applicable Isw. Not leu than one month after the Trustee records the notics of default or two months if the t►ust property
<br /> s not in any
<br /> ���=°;' incorpor�ted city or vfllipe end la uted in farmMy operations carried on by the trustor,tha frustee ahall give pubila�otice of aale to the peraons
<br />~+��•'' ' � and in the manner protcribed by�apppllceble law.Trustee,without demend on Borrower,shali sell the property et pubUc auctfon to the htyhest
<br />- - �.>�`. bidder.If requUSd by the Farm Nomestead Protection Act,Trustee aheli oHer ths property in two separate sales as roquired by applioeble lew.
<br />�_ '•,� ' Tru�tes may poatpone eate of ell or eny pareel of the property by public snnouncement at the time and p�eee of any previoualy echaduled este.
<br />�� '•'"''��' Lender or its dealgnee may purchsse the propercy et eny aele.
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<br />'L�"�'�'' � Upon nceipt of pa ment of the p►ice bid,Trustee shtll de0ver to ths purchaser Trustee't deed co�veying the property,The rositiala aontalned In
<br />���y;�.u_ Truttea's deed sh��l be prima t�cts evidience of ths tiuth of the sutements contained thsrein.Trurtee shdl epply the proceeda of the sale In ths
<br />�•�;r�""� tollowinq order. (a) to all expenast of the nale, includlny, but not Ilmited to, ressonsble Trustee's fees, roasonabla ettorney'� fees and
<br /> _T�}9i n(mtat�rt►ent ises;(b)to ail sums secured by thia deed of trust,and(a)the bdance,if any,to the persont legally entitled to receivs It.
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<br /> ::�q�. 13.Fa�clown.At Lender's optton,this deed of Vust mey ba foreclosed in the menner provide by appllubte lew tor forectosure of mortgepes
<br /> z:';�s�=�•.�.r� on roat property.
<br />~=�-m!`�"'"�!' 14.',�u�ction Lender may enter the property to Inspect It If Lender givea Borrower rwtice beforehand.The notice must state the teasomble
<br /> - s���^d�� cause of r Lender's inapectton.
<br /> -��----•�::'`�"�'-��i 1b.Cond�ftai.Borrower aesf Qns to Lender theproaeede of any award or claim for demeQ es connected wlth a condemnetion or other takinp
<br /> n��'_��r�� of ali w any pert of the property.Such proceeda wiil be applied as provided tn Covenant 1.7hia assignment la aubject to the terms of any prior
<br />__�_._� security epreement.
<br /> �-=�+=�=� 16.Waiwr.By exercisinq�ny remedy availabie to Lender, Lender doea not give up any rights to later use any other remedy.By not exerd�inp
<br /> ����. any remedy upan Borrower's default,Lender does not walve any right to Ister consider the event a defauR�f it heppena agaln.
<br /> �=s��'_'�� 17. JoM�t �nd S�v�nl LI�y• Co�sipn�rr, Succason and Aa�tpns Bound. All dutles under this deed of trust ere �olnt and aeverol. Any
<br /> Borrowar who caaipns thls deed of trust but does not co•sfyn the underlyfn0 debt instrumentlt) does so only to prant end convey that
<br /> =i Borrower's intero�t In the property to the Truetee under ths termf�rs of thia deed oi uust.in addition,such e Borrower agreos that the Lender and
<br /> ���� debt wi�thout thst Borrower a�eonsent and withoutreleas�ng that Borrowaerfrom the termi of this deed of nust thia deed of trust or tM secured
<br /> ��4ti:`�<<.•�
<br /> V'`����` Thn duHaa and benetits of this deed of trust aheli bind and beneflt the auccesaors and aasipna of Lender end Borrower.
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<br /> - -.n�?=' ,.,j 18.Nodce.Unteas otherwise roqufrod by law,eny notice to Borrower ehNl be given by deifvedng it or by maiiing it by certifled mail eddroased to _
<br />�,_�� , :�, Borrower at the property eddross ar a�y other addreas thet Borrower haa given to Lender.Bonower wiA yive sny notice to Lender by certified
<br /> ��j`'� �. �••' maU to Lendsr's addre:s on pape 1 of this deed of ttust,or to eny other etldress which Lender has deslpneted.Any other notice to Lender shsll
<br /> , -. , be sent to Lunder's eddrese es statad on pape 1 oi this deed ot trust.
<br />-c';V." • '�.' Any notiee aheil be deemad to have boen yfven to Borrower or Lender when given in the manner stated above. _
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<br /> 19.Tr�nsf�r of tM P�op�rty w�B�fleid IM�n�t in th�BorrowK.It all or any part of the property or eny interest in ft Is sold or trensterred
<br /> without Lender'e prior wrkten consent, Le�der mey demsnd immediate payment of ths secure� debt, Lendor may also domand immediete
<br />-. , �` deme�dtpay enBin the abova situations if IL le prohiti ed by federal law es of the dateTOf this deed�oi trust�aferrod.However, Lendor may not `
<br /> � � 20.Reaonwyane�. When the oblt8ation sacured by this deod of trust has been pald,end Lender has no further obligetion to meke odvances
<br />-' i. under the Inetruments or egroements secured by thfs deed of trust, the Tru6tee shali,upon written reQUest by the Lender, reconvey the truat ��°'�:,--_
<br /> ��� � � property.The Lender ehail del(ver to the Borrower,or to Borrower's successor in interest,the bust deed and the note or other evfdence of the :;f_:.
<br /> - ,yrr'� � obligation so satiafied.Borrower shall pay eny recordatlon costs. _
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<br />= ___�,._,__ 21. Suceasa TrustN. Lender, at Lender's o tlon, ma remove Trustee and appolnt a successor uustee by fust, mai8np e copy of the _3g,�,
<br /> ... .. ._. _________.�_��,.._....��.._���P... �...�.X.., ti„ru:.,..*no a��hrr�c�,rron nf tmstee for rernrd in the office of the reglster of deeds • "
<br /> �'"�._ �-...;-�---�'--= SUOaIRUUVtt VI ttuetw ao.vyvnv..v�..y�...w......�..,_.._..._...' _. .
<br /> succeced to all the pohweh tdutiesseutho/t�y und titie oft ha Trustee nemed f 8 he doed of trust end of any 6uccesaor trustee,oi the property,sha11
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<br /> iBAPCERS SYStEMS.INC..ST.C10U0.MN 66701 It�l00�7A7•27�11 FOPM OCP-MTp NE 6/1891
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