|
_..`. .. . .... .... .._ ;, - - •. _ . --- --- -
<br /> , •,. •,�:,,.,..•.-•. � Z. �.. ;�.�_�F '� ' 1 a�rt --
<br /> —= :� -
<br /> �t� - . , :; ,' �� ��;s,"t ,-�;rs,
<br />- _ � << .� ,ik';j'��':.:�r'� ��
<br /> � �Y,*i7 ,_ . . ;+.� .
<br /> . .�� .
<br /> � ..�
<br /> � ��
<br /> '�•'�L'�. ,
<br /> ;��'
<br /> .
<br /> �.F _ _ . • , . .,.�•.n....
<br /> ..,�.. " ...._.
<br /> ' "^ ��:X91 s....6...�- __.. .......... .. . . _ _.._..�._ .._ .. ._.. .. .... . .... ....... .... . .. . .
<br /> _.._..�..._....._..... - ._ ... . . ... ..... .-'-��a- �—���
<br /> r -
<br /> �• •t''�: COVENAMTB
<br /> --- �-�:�,-� �� 9�' �� �
<br /> , . ,: i 1. P�1rm�nt� Borrow�r sp�qee to make�II psymmte an tha seeured debt when due. Unleae Borrower end Lende� apree otherwlae,eny
<br /> payments Londer reee vea trom Borrowor a io►Borrowqr's banotit wfil bo opAIlnd firat to any amounto 8orrowor owos on the socurad dobt i
<br /> � ' .�.',� excN�lvs af iMere�t or pflneipat.seeond to IMereat,ind then tq prinalpat.It pertint prepAymem of the eeeured debt oeeure tor eny reaaon, it wllt -
<br /> not reduee or excute any sohoduted peyment until che eecured debt ie pald in full. I
<br /> {
<br /> . Z.CIMms Ap�ins! Bot�pyver wllt pay atl taxoi,�ss stmonto,and other charpea atUlbutabto to the ptoparty when due and wIU dafen�tltle �
<br /> to the property aA el at ahy otelms whloh would impalr t Ilen o}this deed o4 Vuat.Lendur may roquite Bottowot to aosign any rights,clnirn�or �
<br /> , deteeeea which Hor wa�n�y hawo eg9lndt parties who upply tabot or materialc to tmprova or maiMain the property.
<br /> 9.In:urena�.Borro IU keep the property tnnursd nder terme acceptabie to lertder at 0onowqYa expenae and for Lertder's @enetit,AII
<br /> insuranee policies ehall Inciude e stenderd mort age elause in favor of Lertder.Londe�wll!ba nemed ae tosa payea or as the Insurod on any such �
<br /> ' ' Insurence popay.My i�nurence proceeds msy�e e�piied,wfthtn lendeYs discreUon,to elthar�he restoraUan or repair of the damegsd property �
<br /> . �.q , or to the aecured debt.if lender requiroa mortyage nauronce,8orrower agreea to meintaln sueh Insurence for ae long as Lendes requi�ea. -,
<br /> � +,�� : � 4.Prqperty.Borrowor witl keep the propercy In good eonditian and make att repeka reasonabiy necesaary. _
<br /> . '• �r°•'�'�' { 6 �q�nsa.8ortower agroea t0 pay eil Lender'e expensos fnetuding reasonaMo ettorneys'teea,if Borrower breaks any eovenenre in fhls daed _
<br /> o�truet or In any obligatlan secured by thla deed of trust.�onower wftl pay thaso amaunts to Lender ae provided in Covenant 9 ot thie daed of
<br /> �
<br /> trust.
<br /> � 8.Prlor 8a�Irrteroetn.Untesa Bonowar flrat abtalns LondeYa written eonaent,Bo►rotivor will not mako or pormit any chan�ea to any pb�
<br /> security !Mq�qiaste.Barrawer wlll perform ali of Botrowe�'s obligations under any prlor mortgage, deed of trust or oNer securiry agreernent,
<br /> inctuding Bor�qwe�'s covenante to make peymenta when due.
<br /> � 7.A �t of R�rns and Profit�.Borrowet esstgna to Lende�the reMe and profha ot the pioperty.Untess Banower end Lender hava a�reed
<br /> otharw s��e in writing, Borrowet mey eolleot ertd ratein the rertts as Iong as Bortowet ta not in detauk.tt Borrower detauhe, Londer,lereder's
<br /> eQert4 or q court appoiMed recetvai mey tako posaesston and manege tRe property and cottecc the�enu;.Any ranta Lender coGeate ahali ba
<br /> epplie4 fltat to the eosta of manaping tha property,lrtctuding eann costs a�attomeys' feea,eommiasions to rentai agents,and airy otAer
<br /> � � �eo0ssary itilutad ox�eenses.The remnrning amauM ot rer�wili then apply to peymema on tha secured debt as provfded i�CovenaM 1.
<br /> ' ,.�: 8.Lasqhoids•Cvndomidums;P{snned Uidt D�vNqpm�rna.Borrower agrees to comply with the provfsfons of any leasa if tNa deed of truat ia an
<br /> a►aasahotd. i�thie deed ot trust la on a untt in a condorrt(nium or a plannad unit aevetopment,Borrower wiit pertorm ail of Bortowere duues
<br /> �' undpr eha covenanta,by�lawa,or repuladona of the condomtnium or pianned unit deveiopment. w
<br /> :�
<br /> a 8.Auth�►tlt�► of lw�d��to Pertam tar Baroww. if BoROwar fall to�perto►m eny ot 8onoweYs duttes u�der thla deed of truat t-e�ar may
<br /> • pa�Parm the dutfes ar cause them to be perfcrmed.Lender mey s�gn Horrower's name or pay eny emount R necessary for porformance.14 my -
<br /> C annatruation on tha D�operty ia diaeoMinued or not canted on in a reasonable manner,Lender may do whatever is neeesenry to protect lertdu's _
<br /> ,� Becurity Errterest(c��ha properry.Thia mey inolude completing the conabuctian.
<br /> �� lender's tailure to periorm wrUl not pectude Lender trom exeraising any of Ite other rtghus under the law or thia deed of uust. __
<br /> ����� AnY amounta paid by Le�der to proteat Lender's security intereat wiil be secured by thia deed of trust.Sueh amounta wBl be due an dernand -
<br /> and will bear interest hom the date of the peymerrc urnit paid in fult at the intoroat rate tn effect on the soeured debt.
<br /> 10. DMault en�8 IIleed�ntton.If BoROwer faite to make any paymerrc when due or breaks any eovenaMS under this deed af t►ust o�r any
<br /> obligatton secusc�d by thia deed of truat or any priw mortgage or deed vi trust,Lender ma�yacceierete the mnturity of the aeaued debt aM!
<br /> :,� demnnd immed',atm payment snd may invoke the power of eaie and any other remedfee permftted by applfaabio taw.
<br /> 11.Raqufst tor Natic�of DNwk.It ia hereby requested thet copies of ths noUces of detauk and saie be sent to each peraon who ia a party
<br /> - �� i�&:8tu,ei ih6 a3�ii366 ut 68iiii buci�ynrenn,ea sef forlh iroroin.
<br /> � 12.Pown of SNe.B the Lender invohes the power of sale,the Tn�atee ehati flrst racord in the oifice of the regiater of deeds of eaeh county _
<br /> wharein the uu�t property or aome pert or parcet thereof Is eitueted a nottce of defautt eontaining the informaUon requlred by law.The 7n�ateB
<br /> . ; ehali atso matl copies of the nodae of defauft to the Borrowar,to eaot�person who is a psrty hareto,and to other pereons aaprasai6ed by
<br /> �., eppllaable taw. Piot lese than one month eiter the Truatee recoMe the notice of defauk or two months if the truat property la not in u�y
<br />,:'ti,;: ''' � � incorporated city or viilape and ia used in farming opmattona cnrcied on by the trustar,the fn�stee ahall pive publio noUce of eate to the peraQna
<br /> �:.1,;�.•.�•� and in the mannet preaerlbed Ey apppiloebte taw.Truatee,witleuut demand an Bonowet,ehe118e11 the ptopetty et pu6110 auotton to the htehest
<br /> �'�?'••:�� � bidder.lt requlred by the Farm�omasteed Proteatlon Act,Tn+etee shell otfer the propertr in two separate salea as�equired by eppl3eable Ia�N. =
<br /> ���;;;r� ••,, Trustee may poatponB eate ot a 1 or any parcet of the property by publia anrtouneement at the dme and ptaea of ar►y prevtouely echeduled aaw. —
<br /> .,:;,�: , . Lender o�ke deefgnee may purchase the propeny et any eate.
<br /> � ..� �•��;� '��' U n roceipt of aYm ent of the pdce btd,Trustee shell deliver to the purehaaer Truatee's deed conveying tha property.The recitials eo�IRed In
<br /> _ ;. �;,�:,�� Tr�ustee's tleed shaR be prima facte evidience of the wth of the statemants contalned thereln.Truatee ohel{apply the proceeda a4 the sate in th�
<br /> + foilowing order: (at to ail expenses of the sate, including. but not Itmked to, reasonable Trustee's fees, reasonabte attorney's fees ena
<br />: ""j`�`•; `� roinatatement fees;(b�to atl8ums secured by this deed ot tnt8�and tc1 the batance,if amr,to the persons Iegalty entiUad to receive R.
<br />,,� '�',��;•,;' � 18.Fa�closun.At Lender's optfon,Mfs deed ot wat may bo toredoaed in the mannor provide by appiiceble tew tor forecioaure of mort�apas
<br /> :�;:�,.r..•.�ti� fi', on roat property.
<br />._•�`:�';t;�.S�'i'i.�'.
<br />`�!``' �. , t4. on..lender mey etKer the property to inspeat R if Lender givea Bonowet�otiae beforehand.The notice must stete the reasoRable
<br /> :i y�;h�. ��
<br /> .;_�'.'_= oause for Lend9r's h�specNon.
<br /> _-.:,..rv::.ry�-f;t�, - � -
<br /> '�S � '•:� `ii� of all o�r amm�atiOn.Botrower assigna to i.ender the Woceeds of any award or cleim for demeges eonneeted wkh a condemnatlon a otha taking —
<br /> y part of Ute property.Suoh proceede wfll be applied as provEded tn Covenant 1.Thia assignment ts subject w tho terma of amr prbr
<br /> . -, seeurtty egreemeM. --
<br /> ,.�. . , —
<br /> °;`.i;::•.•�i.-.�'. ' 18.WNvN.8y exereising eny remedv evaitabie to lender,Lendor doos not ghre up any rights to later uae any other remedy.By rat exwclaing -
<br /> •,��•`,�4`s if,�� any remedy upon 8arower's defauit,Lender doea not watve any rEght to tater conatder the event a defauR iT it happens epain.
<br /> � L- :� 17.Jaint and Sovaal U�bNftw. Cwipnus; Su¢puon and Aaipns Bound.Ail duUea under thie deed of trust ero jofrtt end aevomi. !ury
<br /> :eos��--. ,..
<br /> ;�����, Borrowar who co-slgna thts deed of truet but does not co-sign the undor1�np debt instr�cmeM(e) does so onty to gram and corrvey tAtt —
<br /> Borcower's inturest in the property to the Trustee under the termB ot thia de6d of truat.!n addiUoo,auch a Borrower egrees thet tlie Lender end
<br /> u:;"` ° ` any othar Borrower under this doed of truat may extend,modi}y or make an y other ehenges in the tertns of t h i s d e e d o f tr u a t a t t�e a e c u r a d
<br /> _�.;�'•`' ' de b t w h hout tAat BorcoweYS conseM and witl►out reieasing that B orrower from tlre terms o f thia deed of trust.
<br /> ~"��� The dutlas and berreflts of thla deed ot trust shatl 6ind and benefit the sueeessoro and essigna of Lender end Bonower.
<br /> • 18.Notie�.UNess otherwise requtred by law,any nodce to Borrower ehall be given by delivering it m by mailing k by cerdfled maN addreased�
<br /> �. ,;f, Borrowar at the pr�rty address or anY ather eddress thet 8orrower has ghren to lender.8ortower will give any notice to Lender by certifted
<br /> .�,• meti to Lender's ress on papu t oi thts deed of Vuat,or to am►other atidress whfch Lender hes dosignated.Arry other noUce to Lender slqil
<br /> :�,ti`:;,,;�. � � be sent to Le�der's addresa as eteted on page 1 of ffila deed of mtst.
<br /> ' i. Any notice ehell be deemed to have been given to Borrower or tsnder when given in the menner etatad above.
<br /> 19.Trmshr of tha Property a�BaMflctat U�LOrset in tlu Ba�nown.if aU or any part of the property or any interest in h la sotd or tra�femd
<br /> ` without Lende►'s prio� written consent, Lender may demand immediate peymeM of the secured debt. lender may eiso domend immedlate
<br /> payment If the 8ortower le not e netural peroon and a ber�eftoiel intereat in the Borrower is soid or transfened. However, Lender mey not
<br /> ,.� demertd paymet►t tn the above ekuetlona M k is prohibited by federal Iaw as of the dMe of thia deed of trust.
<br /> � 20.ffiacorn�yanw.When tho oblfgaUon eeeured by this deed of trust has been paEd aM lertder has rro turtfiar obligation to meke advanoea "
<br /> + und�aor�tyhe Instruments ot agreemerrts secured by this deed of trus�the Trostee sha�f,upon written repuest bv the Lender,reconvey the tiuet �`
<br /> " �±���' obl(gatibn so satinstdieerd8Barcowe rshall pay�any e�rdadon�cos��W,ers eucceseor in interest,Me tnw�t deed artd the note or other evidence of ffie �
<br /> _ �':
<br /> - --— -; 27. Sucwtsot T�v�te�. ���er's o�on, mey remove Trustee and�appoir�t s suoaossor trustee by first,meiiing a copy of dre ��`
<br /> subatitution of trustee a�� ticeb�e aw,and tha�,by fi�ing�e substitutlon ot trustee for recoM in the ofRee of tlre regiater of deeds E
<br /> • . ,,,,,, of each courtty in which e tnrat ptoperty,or eome part thereof,is situeted.The succosso�trustce,whhout conveyance of the property,shall `�
<br /> • succeed to ail the powur,dutFea,authority and tide of the Trustee named tn ths deed of trust and of any euccessor trustee.
<br /> fp�p�Y at11
<br /> . B`�WtHiS SYSTEMS.iDtC.�ST.ClOUD.MN 68301 tt-t00397•29t11 WRM OCP-MT(iM EIIBl81
<br /> �
<br /> �
<br /> � .
<br />
|