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<br /> 97 ���� �:
<br /> COVENANTS � �
<br /> 1. P�ymMU.Borrowar apree� to make ell payments on the secured debt W led ildret�ta m1l +mounts Borrower owea on thetsecursd debi
<br /> peyrnente Londer receivea irom Borrower or for Borrower'� benefit wlll be app
<br /> not reduce or excu4e any scheduied paymenttuntll the�aecured debt ls�pa�id�in}�jj�l prepaymont of�he socurod debt occure for any reeaon.It wlll
<br /> 2.CiVm�Ay�inst TW�.8orrower wlll pay all tsxes,�tsersments,and other cherpes rttributable to tha property when due end wlil defend tltle
<br /> to the property a elnst�ny claims whlch would Impelr the Ilen of thi�deed of iru�t.Lender m�y requita Borrower to eeeipn any rfphtt,ct�fm�or
<br /> defenaes which�orrower may have epalnat partfes who nupply labor or materials to Improve or mahtaln the property.
<br /> �' � 3.Intunnc�.Borrower witl keep the proporty inaured under terma ^..coeptable to Lander at Borrower's ezpense and for Lender's benbfit,AII
<br /> Ineurence poWdes ehell Include a atandard mortge8e clause In favor of Lender.Lender wlll bo nemed aa lose payae or es tho insured on any tuch
<br /> � orft theieeu�red debt�If Lenderiequiree i�mortgepe Pniuranceit Borrower�epre�ei to�melitaio uchhncuranca for aa longlns Lender�requeOB roperty
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<br /> .�„y,�.i • 4.Prop�rty.Aorrower wiil keep the property in good conditlon end meke all repsirs reesonablynecessary.
<br /> • ��'�"�`"' 6.Exp�m�s.Bo►rower a4reea to pay eil Lender's expenaea,inctudinp reaaonable ettornoya' fees,R Borrower breeks eny covenente in thls deed
<br /> of trust or in inY oblipation aecured by thls deed of trust.Borrower wlll pay thete amounts to�ender aa provided fn Covonant 9 of this deed af . .
<br /> I truat. F°_'
<br /> 6.Priar S�curity Int�r��t�.Uniess Borrower firat obtelna Lender'e written consent,Borrower will not make or petmit any chanpes to eny prlot
<br /> � ' security Inte�ests.Borrower will perform etl of Borrower'e obllgatlona under eny prlor mortgago, deed of trust or other secu►tty agreement, �
<br /> f l includinp Borrower'a covenanta to meke peymente whan due.
<br /> � 7.Asslpnm�nt ot R�r►u�nd Protib.8orrower easipns to Lender the ronts and qroflta of the propertY.Unless 8orrower and Lender heve apreed
<br /> otherw tl e in writing, Borrowor mey cotlect and retaln the rents as long as sorrowor is not in default. If Borrower default�, Lender. Lender's
<br /> '��+;, agent, or a court appointed receivet may take po�ses�lon and manepe the property and coNect the renta. Any renta Lender collects shall be
<br /> epplied first ta the costa of inenaping the property, fnaludinp court coste and attorr.eys' fees,commle:lons to rentel ege�nts, and any other
<br /> '� ��•' necescary rekted expenaea.The remaTnlnp amount of rent�will then appiy to psymente on the securod dabt ec provided in Cove�ant 1.
<br /> 8.L��a�hotd�t Condominiums;Pls�n�d Unit D�vMopm�na.Borrower agreea to comply with the provisions of any leass if this deed of tru�t is on _
<br /> r. under the�covenants by lawi,uor regulstlons�of the condominlum or pinnned unit developmenint,Borrower wlil perform ell of Borrower's dutiss `
<br /> ' �r, 9.Authaity of L�ndn to P�rform fa Bortow�r. If Borrower tefis tap erform eny of BorrowerY dutiea under this deed of trust, Lender msy
<br /> peHorm the dutiee or cause them to be performed.Lender may slgn Borrower's neme or p�y any amount if neeeasary for performance.if sny
<br /> conrtruction on the property is discontinued or not aerried on in a reasonable manner, Lender may de whatever is neceaaary to proteot Lender'a
<br /> secur(ty Intu�at in the property.Thfs may include completinp the conctruation.
<br /> ���' Lende►'�failure to perform w11i not preclude Lender from exercising any of Ite other rights under the law or this deed of uust.
<br /> and wlbueir�Inte�restyfromt hetdape�of the peym nt unti�pe dtln full at�the Intere6ttl ate In�effec�t onthe aecured debt unta wltl be dua on dsmsnd
<br /> 10.D�}wtt�nd AceN�►�Uon. If Borrower fafla to make eny payment when due or brealu any covenants under thls deed of trust or any
<br /> ,' obllpatlon secu�ed by thia deed of trust ar eny prlor mortqege or deed of trust, Lender m�y accelerate the maturlty of the eecurad debt and
<br /> demand Immediats psyment and m�y Invoke the power of sale and any other remedles permltled bY appliaable law.
<br /> 11.R�W�st for Notic�of D�iwk.It Is hereby requested that coplea of the noUces of defadt and aele be eent to each pereon who Is e party
<br />_ — heroto,�t tt�addreco of each.ucr�No�ean,as:st twfls F.tssin.
<br /> 12.Pow�r of SN�.If the Lender Invokea the power of sde,the Trustee ehetl first rocord In the offlce ot the roplster ot deeds of each county
<br /> �� wherein the truit property or some part ar parcel thereof fs sltuated�notice of default cont+lnlnp the Informatlon requlred by Iew.The Trustee
<br />��. �h�ll aho mell coples of the notice of default to the Borrower,to ench person who Is e pvty hereto,and to other psrsons as prescrlbed by
<br />-�.',.: .._ : , appllce6le law. Not leu than one month after the Truetee rocords ths notice of defeult or two months If the trust prope►ty Is not In any
<br /> Incorpor�ted oity or vlllaye and Io u�ed In farmfng operatlons carrled on by the trustor,the frustee shall plve publlc notica of ssle to the persom
<br />� end In the menner preacribed bY�apppllaable law.Trustee,wlthout demand on Borrower, ahell aeN the property at publlc auotlon to the hfqheet
<br /> � ,., bldds�.If required by the F�rm Homeotetd Protactlon Acb Truates thall offer the property In two seperote�ales ae requlred by applicable lew.
<br />�. �;��� � Tru�ts�maY Do�►b:�te of all or�ny percel ot the property by publln announcement at th� tlme md place ot eny prsviously schsdubd sak.
<br /> �:._r:-�;:,,� Undsr a iU detlpn��may purchas�tM prop�►ty�t any alo. _
<br />;��'"�' •�'�. Upon nceipt a�t p�ym snt of the prlcs bid,Trustee�hNl dellver to ths purchaser Trustaa's do�d conveylnp the property.Th�roGUals aontslnsd in
<br />�LL*;T:.;;• 7ru�t��'s dw0�hall b�prim�facta evldlmc�of th�uuth of the atatement�contalned theretn.Tru�tee shrll�pply ths procesdt of ths saN In the
<br /> tolbwlrp ord�r: (a) to sll sxp�rusa of the ade, Includlnp, but not Ilmltsd to, reesonahb Tmste�'s fe�s, r�uon�bl� �ttorrny'e tN� and
<br />+irae::�:ti�a���f rsM�tat�m�nt feea;lb)to all sum�secured by this deed of trust,and Ie)the balance,lt eny,to tM per�ons lsyelty entitMd to recsFn it.
<br />--�-- -���*=—�� 13.Faada�u��.At Lsnd�Ya optlon,thb deed of trurt m�y be forocloced In the m�nner provlde by appllcable I�w for forocbiuro of mortp�pa
<br /> � --- on rs�t propaty.
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<br />_���� 14.ImD�a11o� Lsndar m�y enter the praperty to In�pect It If Lendar plve�Borrower notic�belaehand.The notics must tUte the re�sonsbb
<br />--�� c�use for LMdir's lnap�ctfon.
<br />'��hai� 16.CaidMnn�llon.Bonower atN0n�a to LeMer theproceeds of sny aw�rd or clelm for d�m�Dss conmcted wlth a condemnetbn or otF►�r taktnp
<br />""""=`^�""�'� of ill a��Y part of tM prop�rty.Such procsed�will be�pplled as provlded In Covenant 1.Tlii�asslpnm�nt ft�ubjeat to tM termt of�ny prior
<br />��s�{� �scurity spnem�nt.
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<br /> - �,%� 16.W�v�.By exercl�Inp any rsmsdy evalleble to Lender,Lender dosa not gfv�up any riphts ta later use anY other remady.By not exxcistnp
<br /> _—_�^� �ny remsdy upon BorroweYs default,Leader does not walve any rlyht to Ister con�lder the evsnt�dstault If It happens spatn.
<br /> Y� --- ��, Joht md g�y�nt LI�pWpt Co-N9mrs; Succ��son�nd Asslpns Bound• All dutles under thts d��d of uust us jolnt �nd t�venl. Any
<br /> Y,��,,.`�° BorrowK who co•siqns thls d�sd of trust but does not co-tlpn th� underlvin0 dabt imuummtlsl doas so onry to pnnt and convey thrt
<br /> Borcow�r'�htsre�t tn the prop�rty to the Trustes under th�terms of thls d�ed of trust.In Mditbn, such e Borrow�r pre�i that tM L�nd�r and
<br /> �ny otMr Bor�owsr undsr this deed of trust may�xtend,modl(v or make any ottwr eh�np�s In th�terms ot thia deed of truat or the tecund
<br /> ,,;�,�<"�. debt wkhout tlut Borrower's eonsent�nd wtthout rolea�lnp that Borrowsr trom the terms of thi�desd of t�ust.
<br /> "���'`-� �� TM dutNS+nd bensiks of thls daed of trust shell bind and beneflt tM wccesson�nd a�sipn�otlender and Borrower.
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<br />��,••••_�. -� +� 18.Nodc�.Unless otherwlse required by Iaw,any notlee to Borrower sh�ll bs plven by dslivKiny It or by msllfnp it by certlfbd ms�l addrer�sd to
<br />--°' •'�`°'` P.orrow�r st the property addrou or any other addnss that Borrower hu qlven to Landsr.Bortower wlll plw�ny notics to Lender by certlfi�d
<br />--'� ~ ``'� � � mdl to Lend�►'s addr�ae an pa�e 1 of thls desd oi trust,or to any other addrou whieh Lender lus deslynat�d.Any othar notice to Land�r shdl
<br /> '",' . . :,°• ' be seM to lender'�addrees a��teted an paps 1 of thls deed of trust.
<br /> � � . � Any notice�hall be desmed to heve been plven ta Bo►rower or Le�der when qlven In the m�nner ttated above.
<br /> J �" � 18.Tnna1K of th�PropKty or�EN»1k�N�M�n�t�n th�8aroww.If all ar�ny part of the props�ty or any Interest In It It sold or tr�mf�rred
<br />�`'� � without Lender't prlor wrltten consent, Lender m�y damsnd (mmedlate payment of the secued debt. Lender mey a�so demend fmmedhte
<br />�'�� . ' �� dimandtpeymene in the abiove dtuatlona�If li Issaohib ied by federil law es of the d Be oi tt�{deed�of trusta��Lferred. However, Lender m�y not
<br /> � 20. R�conv�ysnn.When the obllpatlon secured by thlt desd of trust hea been pald,end Lender hes no further obll�ation to meke�dvances
<br />_ . •�� ,�„! .d under the Insttument�or aareemertta aecured by thls deed of buat,the Trurtee ahall,upon wrltten requeat by the Lende�,reconvey the trust
<br />- .�:� prope«y. The Lender ehall daliver to the Borrower,or to Borrower's auccessor In Intereat,the w�at deed and the note or other evtd�nc�of the
<br /> � obllpadon�o eatlsfled.Borrower shall pey any recordatlon coats.
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<br /> 21. Succ�uor Trustw. Lender, at Lender's optlon, maY romovo Trustee end eppolnt a nueteaaor ttustee oy fxet, meiiinp a cop oi me
<br /> of eachtcountfjrtinawhlch the trud prope�►ry�or�come p rttthereof.{Ia sf4ueted bTheueu ceseor trustee rwfthout convsyanee of the�propartqashill
<br /> $ nucceed to ell the power,dutles,authorlty end title of the Truatee named In the deed of tnist end of any successor trustes.
<br /> — fpag�x or?1
<br /> EANKEII$6YBTEMS.INC..BT.CLOUO.MN 66701 11•600•�87•��N 1 FOPM OCP�MTO�NE 6/18/91
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