|
:�4 . . . ., .. . . . .. .
<br /> o� ,,., �� . ... , . . ,_,,, .,.....�.,..._... `=-'.^�"�"'-_�,...=.__�
<br /> " , _
<br /> - _ ,._
<br /> ,,,,.fi� .�.,.. .. . . .,�,-�.--�-.--.,
<br /> ,
<br /> '-:Ibz�:x!i�P.�17R� ...r:•:C.rrat-qr�r}�v!!-'v_n��:y..•,:,.yaa�wwaa w.MrMYM�d.�n+.'
<br />._..........-.A �`"_
<br />•�t;.','"�' COVENANT6 �+�� ������
<br /> 1, p�yrtMna. Borrowsr �yn�s :o m�k� all paymsnt� on the s�cund d�bt wh�n du�. Unl�s�Borrow�r �nd Lender �pns othsrwi��, �nY
<br /> payments Lendet rec�ivoa from BorroLYet or tor Borrower's benefit wfll bs �pptl�d tlnt to mv�mountt Borrower owu on th�acund d�bt �
<br /> exclwiv�of Int�rstt or principol,R�cond to intsteit,�nd th�n to princlp�l.If p�rtial prap�ymont of the �ecured debt occun tor�ny�uGZOn,It wlll _
<br /> not reduce or�xcw�an�r�ch�dula�_yy,m�e�t uqt11�e� ured debt la Aeid In fuil. �:.
<br /> Y.Gakn�AoWnt i�����'��1 ttx�i'Y11'l� smant�,and oths�charpe�ariribut�bte to th�ptop�rty when due and will d�fend tltl� o
<br /> to tM prop������ t� cl�im� �wUb��r th Il�n of thi4 dud of tru�t.Lmdv msy nqufr�Borrow�r to�stlpn my ripht�,clalm�or �,_
<br /> , d�t�na�whic orr e���t�(�RI�►yt�ttl111•M�7 PP�Y���r cr mat�rlal�to Improw oi mlhtwln!h�prapsrty. __-
<br /> 3, Itu�x�na�.Borrowir wiA"Tciip�ii D�oP�rtll Imursd und�r terms�cc�pt�ble to Land�t�t Borrower't expeno• and for L�nder'� h�netit. All �
<br /> � Insunnc�policl���hdl Inalud���t�nd�rd mortpay�cl�w�In hvar o}l.�nd�r.L�nd�r wlll M n�mb�s(o��poy��or�s tM In�urrd on my wch
<br /> •� Inwnnc�pollay.Any Imurmc�proceed�m�yqbee ineu�ence�t 8orrowi��agra�ii to+mslnt�lntwchhmurancstfor n lonp r�U derarequ�ei�np�►ty --
<br /> or to tha cacurcd dobt.I}Landcr req�lren mort -
<br /> -�. 4.P►opety.Borrow�r wlll knp th�prop�rty In pood condition and m�k��II npNrs r��tonsbly necas�ry. _
<br /> ,;i,�� B�Eicp�nt��.Boi►oW�►w��p�n u�ur�t�fYhv�thls deed ot tpt tt�Bo fOwer�wil�pey thei�amount to Le�MB�ii provlded kn Govenent�9not thlihdeed of
<br />_— - - !r.x.^.,��„ --
<br /> . trust.
<br /> �.
<br /> 8.Pda S�aurtty h►tN�sU.Unless Borrower first obtalns Lender's written consent, Borrower wlil not make or permit any ahan8et to any prlor �,,.
<br /> aecurity interoste. Borrawer wlll peHorm ail of Borrowar'e obligations under any prior mortpape,deed of trust or other security ayreement, __
<br /> ,.;.. .
<br /> inciudinp Bottowet's aovenants to mako paymente when duo.
<br /> '� .y;•` •; 7.Auipnmsrn of R�nt��nd Prolfts.Borrowar aaalyns to Lender the rentt and profita of the propMy.Uniess 8orrower and Lender I�ave apreed
<br />=-���. •4�` otherw a`e in writinp, Borrower mey collect and rsUtn the rents as lonp as Borrower i� not in defauit. If Borrower defaults, Londer,Lender's
<br /> ���c -`��'� appH�d ftrst to he aosito�of inenapinnp�the proepe�rty8lnc/udindcourt coste and att ro neyecie�ea commissions�LO�rent�l e ents a�dteny othar
<br /> � � ~'��� neceaary rel�ted expen�es.Ths rem�ininp amount of rents w�l then apply to paymente on the secured debt at provlded in�ovenant 1.
<br />..� l"+,.,.
<br /> �_*�"���';; e,���d�.Cw�d�Knu Wx�d Unit D�vNopm�nt�.Borrowsr aprees to comply with the povisions of any lease if this deed of tru3t it on
<br /> - under th�covsn,nu hy Iawiuor rsp luitioni of the cpor d�omin�ium or pianrwd untt dsveiopmentnt,8orrower will perform all ot Borrower's duties
<br /> . ..<� .,. �
<br /> � 9.Autl�orfty of L�nd�r to P�r(ortn fa Botrow�r.If Borrower fails to_perform eny of Borrower't dutiec under this deed of uuet, 4ender msy
<br /> •���� : •�` perform the dutisa or cause tMm to bs pertormed. Lender may slpn eonower's name or pay any amount if neceasary for pe►formance. If any _.
<br /> �� " � conatruotion on the property la diacantinued or not oarrled on in a roasonable manner,Lender may do whetsver Is necese�ry to proteat lender's _
<br /> sacurity Interost in the property.Thic may include completing the consuuction. ��•.
<br /> _.__1�k '� =
<br />_=:;,.«%�,a� Lendsr's falluro to pe►torm wiU not prociude Leoder trom exercisfi�any of its other riqhte under tM law or thla desd of trust.
<br />"�,'r�� 9 and w U beirei�ts�ren iromt h tdaPs�of the payment unti�paid In�full at�the interest�rate in�eftect on the cecured dobt unte wiit be due on demand [':r_
<br /> k
<br />:.,�•.;,.,. ..
<br /> '::=�;' %� ' 10. D�fault�nd AccN�ration. If 8orrower falls to m�ke any payment when due ar breaks any covenenn under thia deed of truat or any ��'
<br /> ��',,,',,., oblipstion secured by this deed of trust or eny prior mortgspe or deed of trust, Lende�mey accelerete the maturity of the secured debt and ry
<br />__.r=��`�,. dem�nd Immediate psyment and may Invoke the power of aale end any other remedias parmitted by applicable law.
<br />- ='"-� 11.Rtqwst tar Notla�of O�fwit.k(s heroby roqueated that coples of the notices of de}autt end sale be�ent to sach person who Is a party
<br /> _;,:�:y-;�=� heroto,at the addross of sach such person,aa cxt forth herein.
<br /> G;:
<br /> =�=-�;.,;,�,� 1R.PowN of SM�.If ths Lsnder invok�a the power ot sale,ths irustee ehail�roi�nci�id In iStB GffiC^.o!ShII tugl..�Ses tst des�e^f w�r.h cnunty ,
<br /> , ,.;:;;� whereln the uust propsrry or some part or parcel thereof la altuated a notice of detauit containirq the intarmetion requlred 6y law.The Trustes
<br /> ehall alao mall copies of ths notics of dstault to the Bor►ower,to each peraon who is a perty hereto, and to other pereons ec ►aocribed by
<br /> s not in eny
<br /> �� appttochls law. Not lsss th�n ons month after the Truatee rocordt the notice of defauR or two months If the nust propertyr _
<br /> ���� inoaponted¢ity or villape and is us�d in farminp opentlons cartied on by the truator,tha truate�sht0 pive publia notice of sale to the penons —
<br /> and fn ths m�nner pretcribed bY�eppplicable lew.Trustee,wfthout demand on Borrower,ehall sdl the property at pubiio euation to the htphest
<br /> biddsr.If rsquired by ths f+rm Homestead Protection Act,Trustee ehail oHer the property In two sepnate�eles as requked by eppiicab�e law.
<br /> __�-- Trustee msy poatpone seie of all or any pucel of the properry bY publio announcement at the time and piace of any previously tcheduled csle.
<br /> �--�^� Lend�r or tts dssignee may purchase ths property et any sele.
<br /> Upon recsipt of p� m�nt of th�prics btd,Trustee shAll dsliver to the purch�ssr Trustee's d�ed canveyinp the property.The rec(tials containsd in
<br /> Trustw's dNd cha�l ba prima taci�evidiencu of the trutli of thu statements contained thrreln. Tru�tee shuli appiy ths proce�ds of th�i�b In th�
<br /> . retn�stat,�nent feei�;�(b to��II sumi iscured by thti�deed of`tr�ust,and(c)thetbalsnce,if any t�o the pe�ions lepelly entitled to receivs�t,fsss �nd
<br /> . 13.Fonciolun.At Lender's option,thia deed of truat may be forsclosed in the manner provide by spplicabie law for toreclosure ot mortyap�s
<br /> on ral prop�rty.
<br /> 14.kup�atbn.Und�r may ent�t ths propsrty to inspeat it it Lender pives Borrower notice bsfaehand.Ths notic� muft atats the r�aaonable
<br /> -- caua fa Lender's Inspection.
<br /> •16.Caod�nxwUon.Bo►rower asela�ns to Lender the�oceeda of any award or claim tor damages wnneated with e condemnstion or other taking
<br /> - of atl or any part ot tM property.Such proceeds wi 1 be appiled es provided in Ccvenant 1.This asaipnment is subjsat to the terms of�ny prtor
<br /> _ � security�yn�ment.
<br /> -- 70.WaivK.By exercitinp any rsmedY�vailable to Lender,Lender doae not yive up any riphta to later uss eny other remsdy. By not sxerclsinp
<br /> � __� �ny romedyr upon Borrower'a defauit,Lender does not waive any right to leter conaider the event�defwit if it happent apeU.
<br /> ---_-— ��� ,�ph��nd gw��l U�� Co.�iq�rr, guee�non �nd Anipns Bound. All duties under thia deed of uust are joint and several. Any
<br /> Borrown who co•sipns thit de�d of qust but does not co•siyn the underivinp debt inatrumentlsl doea so onty to pr�nt �nd convey that
<br /> Borrow�r's IntK�st in the prop�rty to tha Trusten under the terms of thit deed of trust.In eddition, such a Borrower aprees that the Lender and -
<br /> — �ny otMr Bor►ow�r under this d��d of trust may sMend,modHv or meke any other chsnpes In the terms of thla deed of vust or the sncured
<br /> ------- d�bt without that Bonower's consent end without relessinp that Bonower from the terms of thia deed of t►ust.
<br /> -__-- TM duties�nd Eenefits of this deed ot Vuat ahdl bind�nd benefit the auccessors end easipns of Lender and Borrower.
<br /> - �.-`Y 1t,Nodc�.Unkts oiMrwiae roquired by law,any notice to Borrower ahsll be piven by delivorinp it or by maiiinp k by certified mail eddrea�ed to
<br /> ���� BorrowK�t tM pro addrsss or any otMr eddro�s that ftorrower hes 9ivsn to Lender.Bottower wll�yive any notice to Lender by certifted _
<br /> .-_;;;?�'� mail to L�nder'��d ess on p�ps 1 ot this deed ot uuat,ar to any other addross which Lender lus destgnated.Any other notice to Lender ahalt
<br /> - � ba ssrn to Londer'r addrea es stated on pape 1 of Mis deed of trust.
<br /> -�:;��::�.r,51
<br /> R�q:°-;�. Any notics shdl be deemed to have besn pive�to Borrowsr a Lender when given ia tho m�nner etsted ebove.
<br />' _�„,,�x,..
<br /> 19.Tan�i�r of 1M Ptop«tY or�B�tk:�l 1tKK�st In tM BorrowM.It�II or any part of the ptopertv or any tnterest in k ts sold or transferred
<br /> -_•.;.:;�E� without L�nd�t'� p►lor writtm con:ent, Lsnder mey dem�nd Immediats paymsnt of tM aecaed debt. Lender may also demend Imm�diate
<br /> u �� demand p�iymenBin ttro eboveituetbns Ii it s6prohi�ed by ederai law a of the da8e�nt thle deed�of trust neferced. Howeve►. Lender may not
<br /> .,,`
<br /> 20.R�conwy�e�. When the obltgation secured by thia deed of trust haa been paid, end Lender hes no further obligation to make edvences
<br /> undar the insrumenri w•yroements securod by thfa deed of trust,the Trustee nhall, upon written requoat by the Lender, reconvey the truat =
<br /> ,�'��� property.The Lender shall tleliver to tM Borcowsr,or to Borrower's successor in intereat,the bust deed and the note or othor evidence ot the
<br /> �•,�vr� ' oWiyaUon�o aatistled.Borrower shall pay a�y rocordation coats. -
<br /> '�"_ 21. Sueeaaor TrustN. Lender,.et Lender's,option, meY romove Trustee end eppoint a succesaor trustee by Hret, maiting a copy of tM _
<br /> ..,Y..s»..�...s....�......1 in r►.n nffir.n nf thn nnl:ter of deed!
<br /> '�;�'"' sUbstitutian Of trUatea ae requfrea ny appiicao�v��w,arw ino�a� ����� - -
<br /> of each county In which the trust property,or aome part thereo�,Is s�tuated.The succeuor iruatee,without conveyance of ihe property�.shdt �
<br /> � ; suceeed to sll ths powar,duties,authority and title of the Trustee namod in the deed of trust and ot any succaseor trustee. [
<br /> E
<br /> rpip�?01?I
<br /> �v
<br /> ' Y BANKEAS 6VSTEMS,INC..ST.CLOUD,MN 6E701 ll�E00397•l3411 F00.M OCP•MT(FNE 6118781 ___ ____
<br />,' I
<br /> . . _ _.. .... . .. . .... . _ -- �
<br /> . -.�
<br /> .....
<br /> .. . . --,_ .�..�..�'•.. ----- . .
<br />
|