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<br /> COVENANTB Q'j,� '1��3 �_,_
<br /> 1. P�ym�nt�. Borrower �tpno� to make sil paymentt on the t�cund debt when due. Unleis Borrowt► md Lsnd�r �pns otherwits, �ny '=�_
<br /> psym�nts Lender rscelw� from Borrowar or for Borrower'�bsn�ilt wlll bs sppiled first to any amounts Borrower owe�on the secured deht
<br /> not�r duc�otixcuis��Y'�cMdulid piym�nt untA then{iaur�d d,bt it pild in fuilal prepayment of the eecured debt occure for eny reason,It wlil
<br /> 1.CINm�Aprntt ti1M�Borrpw�i.wlll p�Y all t�xN, ��MUm�nt�,and other ch�rpe�attrlbut�6te to thsprop�rty when due and wllf defend t�tle
<br /> to tM prop�rty op�im't�qy CItIMsX,�!)�h wGuld impah��Ilen of thls deed of truat.Lender m�y requfre Borrower to as�lyn any ri4hte,clsims or
<br /> defens�s whlch 60 ow1��m(ey haN'�iArlat partlw wha nupply Inbor or materiale to Imprave or malntain the property.
<br /> 9. Mswlwic�. Ban�wM wil[kNp ttN�prop�rty Intund�under terms acceptabl�to Lender at Borrower's expnnse end for Lender's bensfit.All
<br /> Insunnce poticie�oh�ll Inctud�a at�ndad mortpeps clauie In fevor of Lender.Lender wlll be nemed as lon peyee or ae the fneured on any wch '
<br /> � insurance polioy Any inauronco procnodm m�y bo��Piuran e�t Borrowsrrap e�es to�miint�lnteuchhnsurance for es long�es Lende A eyueea roperty .
<br /> � or to th�ascured d�bt.If Lender requlrss mort
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<br /> `� 4.Prop�rty.Borrawer wilt keep the property In good conditlon and make�II rep�lrs rossonably neceaeary. �`.`��
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<br /> .��� g,Exp�nt��.Borrowsr aQreet to p�y ali Lender'�expense� Including reseonable attorneys' feea,ff Borrower breeks any covenants In this deed __
<br /> y,,,�,,,,.c.�, oi truat or In sny obllgation secured by this deed of trust.�orrower wlll pay theee amounts to Lender ae pravided in Covenant 9 of thfs daed of =
<br />- � tru�t.
<br /> 4 6.Pria S�eutiri IM�n�t�.Unlese Borrower flret obtalns Lander'a wiltten conaent,Borrower will nat make or permit eny changes to any prior
<br /> Inc�udlnfl�Borrownr'a covenent�it maks paymenti�wh nedue.bllgatlons u�dor any prior mortgafle, deed of trust or other eecurity egreement, 4_
<br /> �� 7.Assionm�nt of R�nU and Protiu.Borrower nedpns to Lender the rents and profits of the proparty.Unless Borrower and Ler►der heve agreed
<br /> r, otherw�ee in writing, Borrower may collect and retaln the rents as long as Borrower Is not in default. If Borrowe� default�, Lender, Lender's
<br /> agent, or a court appolnted receiver may take posseselon and manage the property and coliect the rents.Any rents Le�der collects sheli be
<br /> niceisiry nl�ted sxpe sn ssf The r mi�nirp amount o�f rsnts wlll then apply to piyments�on the ieetxwd debt ii provided In�CoveninY�any other
<br /> ( e�leaee�ho���this d�s d�of trus�t li�i uni�in�c�mi num or�e p7innsd unitmdsvelotpmtent�Borrower wl�perform�allhof Borrower s dutles
<br /> ��- under the covsn�nts,by-laws,or repulatlons of the condominium or planned unft devetopment. -
<br /> . . � P.AuthaitY of Lw�to P�rform ta Bc►row�.Ii Borrowar talis to pe►torm any of Bonower's duties under thia deed of trust, Lender may --
<br /> �_ :, e►form the duties or cause tFwm to be periormed. Lender msy sipn Borrower's name or pey eny amount if necessary for performance. If any
<br />_y, , ;�, construction on the property is diacontinued or not carried on in a�oaeonable mannor. Lender maV do whetever is necessary to protect Lender's �;ir
<br /> s e c u r i t y I n t e ro s t i n t h e p r a p e rt y.T h i s m a y i n c l u d e c o m p l e t i n g t h e conatruction. _ _
<br /> ""� Lender's feilure to poflorm will not preclude Lender trom exercising any ot Its othot rightt under the law or thla deed af trust. _
<br /> an c�wl U tieer6l�terest yfrom the dape of t�he pement unt I paidtin tull at��thee lntere taate In e He c t on t he secur e d d e 6 t unta wili be due on demand
<br /> 1�' ' 1p, py�wlt�nd Accal�►�tion. If Borrower fails to make any peyment when due or breaks any covenente under this deed of truat or any
<br />��. "��;.•�'i�, obtipstinn secured 6y this desd of trust or sny prlor mortyaae or deed ot trust, Lender msy eccelerate the maturity of tha secured debt and
<br />�{;:,:;;r;: : demand Immediate payment md may invoke the powet of i�le and eny other rsmedbs permitted by appllcabl�law.
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<br /> 11,R�quest ta NoNa�ot D�tautt.it Is hersby requested that copies of the notiae�of default�nd sde btr cent to oach penon who is s party
<br /> � �isy,�r th.�dd►ess of eech such psrson,as�et forth heroin.
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<br /> � � ''1 12.YowK of S�N.If ths Lender Invokea the power of oale,the Tru�tee ahali first roeord in the offic�of tM repl�ter of deeds ot nch county
<br /> ,'�•+�� � � wh�nin tF►�uust p►op�rty or some p�rt o►peral thereof I�situ�ted�notic�of dN�ult containing th�inform�tion requind by law.The Tru�t�e
<br /> ,���rf.•±...._,- shdl dso m�il copies ot ths notic�of dsfault to tt»Borrow�r,to�ach p�rson who i�s p�rty hereto,and to oth�r pusom a�pr�scrib�d by
<br />?:' �,! ., , applicabl� law. Not I�ts th�n one month �fbr the Trust�a reeords ths notic� o}dof�ult or two montho If tM trutt prop�►ty I�not !n�ny
<br />-5��-,'�"�-� Incorpont�d eity or vill�p��nd ia uad in f�rminp op�ntlom earrlod an by th�trwtor,th��'rusta ahdl plw publla notlG�ot�N�to th�pe�ont
<br />�`°'"`�`'�� �nd in th�mann�r pmcr{h�d by�ppplicable I�w.Tru�t��,without d�m�nd on Borrow�r,�h�il tNl th�proptttV�t puDllo�uotlon to th�hipl»st
<br /> A"��,'�� bidde.If nquind by tM F�rm Homeatnd Prot�otion Act,Trwtu shall o}t�r the prop�rri in two s�piat�t1t�t n rrauk�d by�ppllC�bN I�w.
<br /> Truat��may poatpon���I�of all or any parc�l of t1u propaty by publla announc�m��t�f th�ttm� �nd plan of�ny pnvioully�cMdul�d ub.
<br />�,,;�� L�nd�►or(ts dnlpn��may purohu�th�prop�rly�t any�d�.
<br />_"'`.1i��� Upon nc�lpt of p�Ymmt of th�prlce bid,Trustt�shdl dNivn to tha purchu�r Trust�s'e d��d conv�ylnp tM prop�rty.Th�noltlN�contNn�d In
<br /> .�°�=.tF�k�� Tru�tw'�t��sd shdl b�prlm�i�cl��vldl�nc�of th�truth of th��Ut�m�nt�contNnb tM►Nn.7ru�tw�hall pply th�poc��of thr aM�In tM
<br /> � --_- ii�L�ti i^�i��lb)to�H�umi acw�d by tNi��of t�ustaand(alith�itb,linci If�ny to thi�pii�ioni I�ipillyintl�tl�d�to ricilwylt t��o �nd
<br /> 13,Fonqown,qt L�nda's optbn,tM�d��d of t�ust may b�tonciotW In tM m�nrnr provid�by appllcabN law fa foncbaun ot mortpp�t
<br /> ___:_s� on n�l prop�rty.
<br /> -•���--- wuss tor�len�der i Inipectlon�ter the propsrty to impeat it It Lender pivet Borrowsr notico beforohand.TM notic�muat st�te tM reawn�bN
<br /> ---- - �6,�ond�natlon.Borrawor assi Qns to Lender theproceede of any�wsrd or clsim for dama�ps�conn�ated with�oond�mn�tion or otMr takinp
<br /> securky�eim ne t��ope►ty.Such proceed�wfll be spplied aa provided In Covenant 1.This�tsipnm�nt Is subjeat to the terms of�ny p►fa
<br /> — 16.Watw►.By exerciciny my remedY�vailebla to Lender,Lender doa�not qivs up any riphts to i�ter uts my other remudy. By not ex�rcistrp
<br /> ~' ' '�� rny remedy upon 8orrowsYs default,Lender da�not waive�ny ripht to later contlder ths event a defauR if k happens apaln.
<br /> � ----- 17. Jotnt and S�wnl Uab�cy Co•tlpr�r. Suec�aon �nd Au?pm Bound.All duties under thia d�W of trust sn Jofnt and t�wral. Any
<br /> Borrower who cu•aipns thi� de�d of trust but does not co-sipn ths underl np debt inmumsntls) does�o onty to 4rant �nd conv�y that
<br /> 8orrow�r's Intarest in the prop�rty to ths Trust�e under ths terms of thta ds of irust.In additfon,auch� Borrowsr�pnss th�t the Lend�r�nd
<br /> � �ny other Borrower under thls do�d of trust mry extend,modiiv or maks any other ch�np�i In the tarms of thit desd of uust or the�acurcd
<br /> ���� ds6t without thst Borrower'a cont�nt and without rsle�sinp that Borrowsr ftom th�tsrm�of thlt deed of butt.
<br /> A;�; The dutiei and bsnefiu of this dsed of vust sh�M bfnd and bsnefit the successors md usiyns o}Lendsr and Borrower.
<br /> "—� 1Y.Notk�.Unle��otherwia requirsd by law,my noHce to Borrower sh�ll be piven by ddtvsrinp it or by m�lling it by c�rtifi�d m�il addreu�d to
<br /> Borrow�r at tM propetty addree�or any ather�ddre�s th�t Borrower has piven to Lendsr.Borrowsr will piw any notic�to Lend�r by certiflsd
<br />�='��="�� mNl to Lsnd�r's addtess on pape 1 of this deed of trust,or to any other address which Lender ha�desipnated.Any othe�notic�to Lender shdl
<br /> _ �-;;^_.;� ' b�ssnt to l�nd�r's eddress as st�tad on pape 1 of tht�deed of trust.
<br />�_�v�,�r,�" Any notics shall be deem�d to have be��piven to Borrower or Lender when ptvsn�n the m�nner stetsd�bow.
<br />�=1`->t,:� 18.Tr�rut�r of tM Prop�rtY a�B�nMeLi k�t�nst M tM Borrow�r.If sll ot my p�►t of tF»propertv or any interost(n ft it sold or tr�ndferrod
<br /> W1.;°�:.` "�'" wkhout L�nder'e prior written consent, Lender may demand Immsdl�t�p�ymsnt of th� seeund d�bt. Unda may also d�m�nd Imm�diat�
<br />--- �-..r.-• dsmiod�p�aymsn�n the above situetioni If it Is�aohibtl d by f ederal law as of the d ae ot th�i dsed�ot Vuat��ferred. However, Lender m�y not
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<br />�.•,!_ ,, .. :._,•. � Zp,R�ccnwy�nc�.When the obli0ation secured by this dsed of trust has besn pald and Under has no fuKh�r oblip�tion to m�ke adv�nce�
<br /> - under the instrument�or apreements tecurod by this dead of truat,the Truatee�half upon written raqueit by the Lender,roconvsy tM trust
<br />`-` � t•-•-.; ' props►ty.TM Land�r eh�ll deliver to ths Borrower,or to 8orroweYs succesaor in Intero�t,the uust deed and tM note o►othsr evW�nc�of the
<br /> r-' r�. oblfyation so setisfied.Bonower�hall pey eny recordation coste.
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<br /> — •-'"+'->�".'j""� • . $�. $(ICCYl�01 INiLN. isnder. �L L!O(IOf�/ O�iton� m� foliiVVO iiueivo iiTM i�rMirn° � ivLNLLvi u`uoiw v� 4 •�r���ry ��►i -
<br /> i substttutlon ot truatee es requlred by appllaable iew,�nd tXen,by flllnp the subatitution of trustee for record In the offie�of ths ropl�tar of doedi
<br />�� '•�'��� of each county In whlch the truat property,or�ome part thereof,fe sltuated.Tho succeasor truatee,wlthout convsyance ot ths property,ahatl
<br /> , . ''-i; suoceed to aIl the power,dutfea,euthority and tltle of the Trustee nemed fn the deed of truat end of any aucceaaor trustee.
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<br /> . LANKERS SV8TEM5,iNC.,6T.CLOUD,MN 08901 t1�600•39T•23�11 F011M OCPdAT6NE 8/18l81 ` -
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