|
' �t� . �: ., •: . . : .
<br /> ,.�. '
<br /> �;i;
<br /> �:,' . . � � . ' ' . _ . - rt � �i.;.�t. q ..
<br /> . ' r � ,n�... �n . . fi"?.: �'���I,j '•..I. i. .. '�; . . I 'IHI+.� ,
<br /> •,yt�'�� ,.). •l•h`y��d'.r'�;1 :1 i' . .�.��,. .. - � ' •
<br /> � ( 'b✓. - . . • 1�4,-.. �, ... • � _
<br /> _ .� ..6' �,.
<br /> '. .. �-�T�'C--7t�;'..
<br /> - 97�- 10'7'' . 2 COVENANTB —��
<br /> t, M�ynNnt�, Borrow�r �pne� to ��ioko oll paymenr on thr aecured ARbt whsn dus. Unlea Rorrowe► ancl Lender apras otherwlse. �ny —
<br /> excluilve of�lnts nt o��princip�,�sca d to�ntire��end th�n to�inc p 1.N p,rti�al pn�psyment nf the securod dabt occu 6 for anV naion�,i t DI ,
<br /> not raduc� a�xeut��+ n n t k t M� nd debt I�paid In full.
<br /> .�.� ,. . �1 ..l.0 p
<br /> 2.CINm�AO��t Ti .�Qrfower�wfA pay,rlP��,`�s��s Im ot this deed oi trust�Lend�erumiyr equke Boro wer t he�t pn�nV rl ht��clilmito�
<br /> to th�prop�rty �D dn m � wh�f�W�'P' p�y labor or musriab to Improve or malntetn the property.
<br /> de}�nsa wNCh 9orro��.�y'�"�:•sa•a,�r prrtii�Pw�6� •
<br /> g,ku�x�na,Barowa wlll kup th�prop�rty Imurad under term��cceptabt�to Lender at Borrower's expen�e and tor Ls�der's benefit.All
<br /> Intur�na pollci��thdl Includ�a�twndnd mort +W�cl�use In favor of Lendsr.Lsnda will ba na�m�d n los�paYU or is ths Insured on any euch
<br /> ' or to tM saaK tl d btl It Le�ndir riqu�ssu oatp�po Inc�u�ancoit 8�orrowarraprofoa to`mMntelnteuchnnsu�anco for aa►onp�ee Lender�r quhee��� .
<br /> ,� 4.PtapKty.Borrow�r wlll k��p th� property in pood eonditlon and mske all rep�i►�n�sombly necess�ry.
<br /> - ----�"` R.EYe�na��.BorroW�r�prns to pay+11.Under's sxpemea Inaludiny rsa;onebl�:;m�����rn lerider�ss aovi�ded kn Covenent 9 ot this dead o�f ..
<br /> of trtist or In�vly obliq�tlon s�cureu uy�id:daa3 at 2tu.K. �ono:"°t .r�l!:-• +'=--
<br /> � . truat. k�
<br /> d. P�ia 8�ht�n�t�.UnNtt 8orrow�r ifrst obtalnt lender's written caneent,Bo►rower will nat mok�or perm(t�ny chanpea to any prio► t..._
<br /> �'-
<br /> , Includlr�ip�Barowir'i cov�ninu�t mtk p�ym���wTwn due.bligatlans under eny prio►mortgage, deed of trunt or other security apraeme�t, � ,
<br /> ,; 7.A� of R�nb�t�d Prolits.Borrowsr ssdpna to Lender the rente and profics of the praperty.Unless Borrowsr and Lendsr have aprsed =
<br /> ,• oth�rw�o N writiny, Borrower m�y collect and ntain the rentt at Iony as Borrawer it not in default.If Borrower defaults, Lsnder, Lender'a
<br /> �.� aqent,or a court+�ppoint�d nc�lver may tako poesaolon�nd msnape tha property and coileet ths rents. Any rsnts Lender coileats shall be
<br /> ��'�. sppltsd ft►st to the co�t� of manapi the property, includln court ca�ts and attarneys' teea,commfeelone to rent�l apent�, and any other
<br /> necssary nleted expsnsea.Th�remiP�inO�maunt ot untt wRi then apply to payments on the secur3d debt ss provided In Covenant 1.
<br /> �• 8.INtN�dd�• CondominM�m�t PIwMd Udt a�«°Dm�nU.Borrower egrees to comply with the provlaions of sny lesso if thls deed of uust Is on
<br /> � undor tlw cavansnta,DY•�aws,or►e9a�ntion��ot the co lomintum or plinnid unit devilopmsnt nt,Borrowsr wlll psr(orm all of Borrowsr's duties `
<br /> �� �� �, �. p��y p}�M�to pw(orm 1or lorrow�r.If Borrow�r feits to�perform any of Bor►ower's dutle�under thi�deod of uust, Le�dsr may
<br /> �� pertorm tf�dutNs a caut�tMm to be peHorm�d. Undsr may sipn Borrower's n�me or psy�ny smount if neceuary far psrformancs.If s�oy
<br /> :ecuriiy intxeit In the�op�ertyaThli�may tnciuds comp�etinp the conmuctbionma��r, Lender may do whatsver is necessary to protsot Lsnd�t's _
<br /> �•='
<br /> , ,�� F_.
<br /> Lsndsr's f��u►e to parform will not preciuds La�der from exercl�lnp sny of its other riqhts undsr the law or this deed of trust.
<br /> antl wlil bix i�tereityfrom ths d�te�of tho pament un J pa d in fuil ati the interes d,te n eNect ontthe secured debt unta wiil be due on demand �+__
<br /> ' 10. Wf�tit a�d AccMK�tlan.If Barower faiis to mtke any p�ymsnt when du�or breaks any covenants under this deed of uust or any -
<br /> demind i�rvnedlits piymint a�ndd m Y���oke ths powx of isleind iny ottwr remedlesdpormitted by ippticabl�lisw ri4y ot the�ecured d�bt and
<br />,{ " 11.Rpuat fa NoUo�of Gf�ult.It is hereby roqueated that copies of the notices of default and aate be sent to�ach person who is a pa►ty
<br /> •' hersto,at ths �ddreu of each such peraon,as set forth herein.
<br /> 12.Pow�r of 8Y�.If th�Lend�r invokss the powe►of sale, the Trustee shall flrit roeord tn ths oN�cs ofi iha npisiv+�t 3sad:ai s:ch ccunL;
<br />`�L.., wMnln tM trutt property or�ome part or parc�l thereof I�sitwted a notice of default contafninp s�eto�a�nd to��otheipersons�is p�rescribsd by
<br /> �` shall also mail coples of the notics of defauft to the Borrower,to eech peno� who is s p�rtlr h a not in any
<br /> _ ��..�c;;,;,. � applicable uw.Not Ieu than one month after the Truatee rocorda the notice of default or two months if the uuet propertY i
<br /> • .1�, incorporat�d aity or villape and Is ui�d in farminp operetiom carried on by the trustor,tM frustee shell pive publia notics ot sds to the persons
<br /> -�, �.�;-;._;;Y, �nd Inth�mamer prescribed by appplieabls I�w.Tru�tee,without demend on Borrower,shell sell the property at publio auation to the htpMst
<br /> Rtl�`;. `,�;1 bidd�r.If rpuk�d by tM Farm Homestsid Protection Aat,Tru�tee ahali offer the prcpsrty in two separete tdss as requind by appllnabl�law.
<br /> �:� � TrustN m�y po�tpon�sats of ail or�ny parcel of th�praperty by public announcement at ths time snd plec�of any p�sviou�ly sctHdul�d sale.
<br /> =��..�' L�ndx on c�d�dpn�e may purchase the propartY at my ade.
<br />_.::;i1�r!tt�(_�', .
<br /> :==�5''r ' ' Upon neeIpt ot peyment of th�price bid,Truetee shdl deAvsr to the purchaaet Tru�tae's d�ed conwyin0 the property.The rodtials containad In
<br /> - >w�;�`;�,• Truatw's d��d�hall b�prim�f�cie�vidbnce af the truth of ths atatemerrca contafned thsrein.Trostee shail appiy the proc�sd�of the seb In tM
<br /> -_���_,r;;:;�•,. toilowinp ad�r. l�) to atl sxpenset of the Aate, Includlnp, but not Iimited to,roasonable Trustee'� fee�, reesonabls attaneV's te�� and
<br /> ,,,;��� ►einat�tsm�nt f�es;(b)to all suma�ecured by this deed of trust,end lo)the bslance,if any,to the persons lepally sntitlsd to rsceiv�n.
<br />___-,=;.'� 7 3.For�down.At Lendsr'a option,thle deed of uust may be forecloaed In the menner provide by applicable law for fotealosure of mortp�ge�
<br /> on re�i props�ty
<br /> ._-..r_.-ecwRl_��
<br /> .,.--�-�;_a� 14.Nup�ctlon.Lender may enter the property to impeet It if Lender glvss Borrower notice beforthmd.The notice must st�ts the renon�b
<br />_ .;�r,�_�,,���. causs for U�Mr's Intpeation.
<br /> �"•°"�' 16.Comi�nx�ttw�.Borrower�ssiQna to Lender tha proaeeds of eny ewerd or clalm for damege�conneoted with a condemnatlon or other tekinp
<br /> - ���,
<br /> .Tti:.>; of all or my pM of ths propartY. Such proceedt will be applied aa provkled In Covenant 1.Thio eeslynment is subJect to the terms of any pNor
<br /> .'-�•=�?•< security+pre�msnt.
<br /> �+Y `.;N 16.Waiwr. 6y�xsrcisin �ny remedY evsilable to Lender,Lender does not give up any rights to latet use any other remedy.By not exercisiop _
<br /> `:s;�;: a�y rom�dy upon Bonower's defauk,Lender doee not waive any right to Iater conilder the event e default if it happens again.
<br /> ..� ,r,-.
<br /> '�"�`� 17. Jd�n�d S�vKM U� Casipn�rss Succ��tera�nd Aaipns Bound. AY duties under thia deed of truat ue Joint end severel. Any
<br /> Bortower who co•sipns this sed of trust but do�t not co•alpn the undertyin➢debt inst�ument(nl does so only ta yrent end convey th�t
<br /> -�"�!'ES°-"•'� Borrower'�interaat tn the property to ths Truetee unde�the terms o}tNs deed of uust.In additton,wch a Borrower aprees thet the L�oder and
<br /> .- �:` ���, any oth�r Bortower under thi�deed of truat may exte�d,modl�or meke eny otMr chan�es in the terms of this deed of Vust or the secure0
<br /> ��:°�•: debt witlaut thK Borrower's conaent and wlthout robesinp thet orrower hom the terms oi this deed of ttust.
<br /> �.�s-,R..
<br /> =__� b The dutie�s�d benefits of thin deed of ttust shsll bind end benefit the eucceasora�nd asstyns of Lender end Borrower.
<br /> ���� 16.Notlu.Unless otherwise roguired by law,any nodce to Borrower aheU be piven by deliverinp it or by mdiinp It by certified mail eddroesed to
<br /> -�.:�:,�,��,'C.
<br /> •-.y•..r��,;..., Bonower�t tM propsrty addross a any other addnts that Borrower hes 9Iven to Lender.Horrower wlli qtve any notice to lender by cerNfied
<br /> mait to Lmder't eddrsss on paQe 1 ot thia deed of Vust,or to eny other addreas whieh I.ender has deslflneted.Any other notiee to Lender shdl _
<br /> " be a�nt to Lendsr's addraae�s stated on paye 1 of thls deed of truat.
<br /> ' � Any notke shtli bs deomed to have been given to Borrower or Lender when piven In 4he mennsr stated above. _
<br /> 19.T►�hr of tM P►op�rty w�S�flci�l IntH�stln tM Bonow�r. If atl or eny pert of the propert ebt alender�mey elso demendtimmediate -
<br /> • • without lend�r's prior written coneent, ltnder mey demard immediete peyment of tho secured d =
<br /> f payment if th� Borrowar fa not a natural person and a baneflcial tntoreet In the Borrower is eold or tranaferred.However, Lender mey not _
<br /> � �. demand p�yme�t in the ebove situetions if It is prchibited by federal lew aa of the data of this deed of truat. _
<br /> � 20.Recanv�y�nc�.When the obliyetlon secured by thle deed of trust haa been paid,and Lender has no further ob8petion to make advances
<br /> under the inaVUments or egreements secured by tNa deed of trust, the Trusiee ehell,upon written requeat bY the Lender,reconvey ths trust
<br /> .:;>}'� � propertlr,The Lender ahail deliver to the Borrowor,or ta Borrower's auccessor In Intoreat,the trust deed and the note or other evidence of the
<br /> • � obliqation so wtisfled.Borrower nhait pey eny record�tion coan. :
<br /> - -
<br /> S__ .,. e.�r, T,,...� �.,,,i.. ,� t•nder•c ootion. msv remove Trustee and eppolnt a sucteasor trustee by fuBt_ malMiinp s�co�pY�oaf�th� i
<br /> _ :,�--- .-� �.. ••---• --••---- -� -
<br /> i subatitutbn ot trustes ee requlred by appi►cable law,end then,by f�itng t�e suoa�mir�on oT crusiee�or roi::,�v���.��o..,,...o........_..-.-•-•-- - .
<br /> � succecedtouell the power tdutlesaautholtry a d title of the Truatee nameda^edhe deed of trust nd of any�successor trustee.�f the property,sheA .
<br /> Ip�Q�2 olYl
<br /> -- � SANKERSbY6TEMS.INC.,ST.CLOUD.MN EE301 tl�800J9)•23�11 FORM OCV�MT6 NE 011891 _ ,_
<br /> II
<br /> I '
<br />
|