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<br />,-;���....,��' COVENANT8 •' ������J��
<br /> � v _
<br /> `" � � 't�:' 1,p�ym�nta. Borrow�r apnei to mak� �II p�ym�nt� on tM secured dsbt when due. Unlsas Borrower Le sr ree otherwlt� any �
<br /> •• r� � p�ym�nt� L�ndsr ncelw�from Borrower or for Borrow�r's benefit wiil be �p Iied firat to eny amounte Borrower owee on the eecured debt =_
<br /> • � ;� t exclusiw of Int�re�t or principal,s�cond to Int�re�t,snd thsn to principal,It p��l prepayment of the secured debt occure for eny reaeon,it wlll �
<br /> , y n o t r e d u c e o r e x c w e�n y s c h e duled pa yment untll the secured debt Is pald In full.
<br /> �; . Z.Galm�A�Inat 1�W.BarrQw�r,5�u111�ay.n t�x�t;r�aitsmento,and other charpee attrlbuteble to the property when due end wl!1 defend tltie
<br /> to t h�pr op�rty apt tL t in y c1Y1tNt 1,b y uould impak t s Il�n of thb dsed of trust.Lender m�y ro�qulrin he�roar�to asslyn any riyhto,cl�im�or �_„
<br /> d�Unsn which 6or�ow�r m�y hw�1�11tnt partNl who�iupply labor o►m+tarl�le to Improve or ma nta t p p rtY• �
<br /> , �;�: �. er.r�y� � r�<
<br /> ��^ �+ 3,In�wano�.Borro�w�r.J�IU kdQ the pr�p�rty Ih�llled(+nder t�rm�aaaptable to Lender at Borrower'a expenis end for Lende�'s benaflt. AII _
<br /> inwr�ncs pallai���h�ll Includ��tt�ndard morty�Oe clau�s In favor of Lendor.lender wlll be named as losn payee or a�the insured on any auch c�
<br /> � ^��. inwrance pollay.Any Imunnc�proa�ds m�y be�ppll�d,wlthin Under'�diecrstion,to eith�r the restoration or repdr of the damapad properry
<br /> �' or to th�s�cund d�bt.I}Undo r�quina mortpay�Insunncs,Borrowsr�preel to m�i�Uin such insurence for as lonp a�Lender requirei.
<br /> ' •,I�: �.:
<br /> „��rm�t�. 4.PropMty.Bor�ower wilt ksep thu proporty In poad condRfon and mnke ell repafrs reesonabiy neceseary. �-
<br /> :6'��'r���� 6,Expeu��.Borrowst�yress to pay all Lend�r's expen�es.Includinp re��onable nttorneys'fsea,If Borrower breaks a�y covenant�In thlo d�ed
<br /> of truat or In any oblip�tlon�scutsd by thii deed of t►uit.Borrower will p�y theae emounts to Lender ss provided In Covenant 9 0}thia deed of
<br /> _ tru�t.
<br />- �� a.Pria S+cu�y Mt�nsb.Un�oss Borrower first obtalne Lender's wrttten conaent,Borrower will not make or permit any changes Eo any prlor
<br /> security Interests.Borrower will pertorm all of 8o►rower's obligatlona under any prior mortgage, deed of truat or other security agreement,
<br /> , ,�' inciudinp Bortower'a covemnte to make paymentt when due.
<br /> ' 7.Assip�w�r�t of R�nb�nd Profin.8orrowe�assipno to Lander the renu and profita of tho property.Unleee Borrower and Lender heve agreed
<br />;�;��.p�:, otherwl�e in wr(tin4, Borrowsr may colieot and rotain the rents as lony aa Borrower i�not in default. If Borrower defaults, Lender,Lender's
<br /> _`«.�,er• aQ�nt,or a court appointed rocdver mey teke poasesslon and menage the property and collect the ronts.Any rents Lender collecta ahall be
<br />;«;�':••;�'! epplted first to ths coate of manayiny the property, includtng court coats end attorneys' fees, commissiona to rental agents, and any other
<br /> �ecesnary relatad expenses.The remaininp amount of ronts wili then apphr to payments on the secured dabt as provided in Covenent 1.
<br /> •�.'r:
<br />-_;``,;,p_. 8.l�a��fwldbj CondomitAums;PI�nMd Un(t D�v�lopm�nt�.Barrower efI rees to comp ly with the provlsions of any Iease if this deed of truat is on
<br /> -,•..�,,+� a Nas�hold.IT thi�deed of autt is on a unit in a condomfnlum or� plmned untt 0�velopment,Borrnwer will perform ait of Borrowar's dutlea
<br />—=T� urMa the covenanta,bylaws,or rapulatfons of the condominium or planned unit dev�lopmant.
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<br />--���.ic:`�• ". g,A�pt}�y o}4��t to P�rform tor Sor►owK.If Bonowsr f�Hs to_perto�m�ny of Borrowsr'a duti�s under�ihis deed of truat, Lender m�y
<br />°'�.;,"v:;ti'r• pedorm the duti�t or c�use them to be performed. Lsndsr may sipn Horrowa'a nune or pay eny amouni M necesaary tor parformanee.!f any --
<br />-r�,• consuuction on thsprop�►ry is discontinued or�ot can(ed on In a reasombte manner, Lender msy do whatnver la necessary to proteot Lender's
<br /> .:�;.,-�';;�$:
<br />-;�•;_��'.�•, security(nterost In the property.This may include completfnp the construction.
<br />�.,_,���:-;" Lender'a fallure to perform wlil not preclude Lender from exercistnp any oi its othe�riqhts under the law or this dead of trust.
<br /> .:.;�.:.
<br />`� !, Any amounte pald by Lender to protect Lender's�ecurity Interest wiil be secured by tN�deed of trust.Such smounts wlli 6e due on demand
<br /> ��� ,.- eM will bear intereat from the date of the payment untll paid In full at the Interest rate in effect on the secured debt.
<br /> `�%�±�'� 10. D�hult�nd A�c�Nntion. If Borrower fafla to m�ke any payment wMn due or breaks any covonants under this deed of uuat o� �ny
<br />"'._��si� o�Jipation secured by this dead of uuat ar any pdor mortp�ge or deed ot truat, Lender mey accelerote the msturity ot ths secu�ed debt snd
<br /> ;.;�;:r.�. demand tmmediate payment and may Invoke the power of aaie a�d any othe►nmedbc permitted by applfoable law.
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<br />__,;f4?"� 11.R�qu�st tor Nodc�of D�hdt.It is heroby nquested th�t copks of the ratice�of dsfault and�ale be sent to each peraon who Is� party
<br />-=;_;,.;�;� Mroto,at the addross of each wch pxrson,ac set forth hsreln.
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<br /> -�- 12.Pow�r of Sal�.It the Lender invokes the power of�ale,the Trustee shaq firat reaord in ths office of the repiater ot deeds oi each county
<br /> -"�i''=" ' �nc�ss;a 2!w tsusL praperl;o�eom+!^'!'!^►p�►cel thereof la�Ruated e natice of dahult conUininp the information requ(red by Iaw.The Tru�tee
<br /> �r-� ah�ll also m�il copi�s ot tM notics of d�fault to ths Barowsr, w eaah psrwn wno 1s� p�rty neroto, and to o�er persons as esaibed uy
<br /> --�+s;; s not tn any
<br /> ^���-�' appUc�bls law. Not leas th�n one month aftsr the 7m�tee rocords the notics of dsfault,or two months if the uust property
<br /> � incorponted city or vill�ye�nd b us�d in farminp openUo�s carrled on by th�ttusta, the Trustae ahalt yivs publfo notice of sale to the peraont
<br /> -°��— and in the mmrnr pre�cribed by appplicabts law.7rustee, without demand on Bnrrower,sh�li aell the property at publio auction to the hiphett
<br /> �_���� blddsr.If required by the Farm Homeatead Protectfon Aot, Trustse shall offer the property fn two aeparate aeles as reyuired by epplicahls law.
<br /> Lender omtti deiippnee may purehase the paoperty et anyiste�by pubtic announcement st the time and place of any prevlouily scheduied aele.
<br /> Upon receipt of pavmsnt of the price btd,Tru4tee�hatl deliver to tM purchsaer Tru�tse'�desd aonveyinfl ths prop�rty.Ths recitfsla contHn�d in
<br /> Trustee's deed sh�li bs prima facie evidtence of the truth oi the stetements contained there(n.Truaee shall apply the procesds of tM sds in the
<br /> �,k�isti�temint fan��(b)to ill sumisiacured by thli�deed of�tru�t And(c)ihet belance if eny Wto the persons Iepaliy sntkled�to recsivi�i,tsss md
<br /> 13.Fonelo�un.At Lender'�optton,thi�deed of truat may bs foreclosed in ths mmner provid�by appifc�bls I�w for forscloaurs of mort�ay�t
<br /> -- on rsal property.
<br /> 14.1��yq� Lend�r may enter the prope►ty to Inspeet it If Lender gives Borrower notice beforehend.The notice muat stats the reuonsbie
<br /> c+uss ot r L�nder's In�pectlon.
<br /> 16.Ca�d�ennadon.Borrower aui Qns to Lender the proceedt of any eward or cleim for dom�9ea connected with a condem�ation or other t�kinp
<br /> of�11 or sny part ot the property.Such proceeds will bn spplied ae provided In Covenent 1.This asaipnmont ts eubject to the terms of any pria
<br /> ucurriy agrsament.
<br /> -- 11,WaivK.By sx�rcisinp any remsdY evailable to Leoder, Lender does not qive up a�y rights to later use anV other remedy.By not axarciiinp
<br /> •ny rsmsdy upon Borrower'�defauit,Lender does not wsive eny riQht to later conarder the event a defauit if ft h�ppens agdn.
<br /> _ _..__..— », � �1 8�wr� LlabiNri• Ca�tprwru Suee�ason and Astiyna lound. All duties under thb deed of trust ero Jolnt snd sswnl. Any
<br /> — B�or ower'sWnt�r��t tn�thi�operty to the 7rustee under�the teams of thb de��eA of Uu�att In ad Itmton�nuch�i Borowe�aprees th�th s Lender tand
<br /> my othet Borrow�r under this deed of hust may extend, modi or m�ks any otMer ch�npes in the terms of this deed of ttust or the tecured
<br /> ---�-.... d�bt without that Bortower's consent end without role�rinp that ower irom the terms of this deed of trust.
<br /> J --= The duNss and t»nefits ot this de�d of tru�t shall bind and bmefit the succsacors and aeitym of Lender and Borrower.
<br /> -"'"""�`�"=�� 1i.Notla�.Unkis otherwiss requtred by Iaw,any notics to Borrower sheil be piven by deliverinp it or by msiifnp it by certiHed msfl addntssd to
<br /> �``"'"�°� Borrower at the ptoperty addross or any other eddress that Borrowsr h�s Diven to Lender.Borrower will qivs any notics to Lsnder by c�rtifi�d
<br /> �^t-�"�^• mail to Lend�r's address on peps 1 of thi�dsed of bu�t,or to any other�ddross which Leoder hes deatgnated.Any other notiea to Lender sh�ll
<br /> ;_;;��,.�.. ,,+t� be sern to Lender's addresa as atated on pape 1 of thtt deed of trust.
<br />_ ,:,�,;d:7:..�,
<br />-- Any�otice shall be deemed to have been piven to Borrower ar Lendor whan piven In the manner etated above.
<br />_ i,'., ::, ;.
<br /> � 18.Tnnsf�r of th�Prop�rty a�B�flcly�rKe�at in tM Borroww. If all or any pert of the property or any Interest in(t is eold or uansf�rred
<br /> � wtthout Lender'e p►ior written consent, Lender mey demend immediate peyment of the secured debt. Lender may also demand immediate
<br /> � � � p�yment if the Borrowor Is not a neturel perBOn and e beneficiai Interest In the Bonower ia eold or tronsferred. However, Lender may not
<br />.`�!';-•, " demaM payment In the above situations It It la prohibhed by federal law as ot the dete ot thia deed of trust.
<br /> � �,� 2p, p�conv�yanc�. When the obiipation Becured by thia deed of trust has been pald,and Lender has no further obligetion to make advances
<br /> ��(;,� undor the Instruments or apreementa aecured by thfs deed ot truat, the T�ustee ehall,upon written request by the Lender,reconvey the trust
<br /> � properry. The Lender ehsll deliver to the Borrower, or to Bortowor's successor in Intereat,the trust deed and tho note or other evidence of the -�
<br /> �.,,�,{�.� � oblfgation ao satlefied.Borrower shall pay eny recordatfon costs. -
<br /> "�:+r"" � 21. Succ�uor TrustN. Lender, at Lender's option, mey remove 7ruatee and appoint a auccouor trustee by first, maiiing a copy of the
<br /> ' eubatltution of trustee as required by eppliceble law,end then,by fiiing the substitutlon of trustee for record in the office of the repiater of deede �
<br /> _=-_•-�!•_ �r..�h.:nuntv in which the Vuat nronertv,or some pert thereof,Is Bftueted.The cuccessor trustee,without conveyance ot the property, ahelt -
<br /> . .___,..'._�._.._"T � " "_" .
<br /> succeed to All the power,dutles,sUthOtity End title Of tR8 1�ubTEB nEmeU in me oeea ot trust ano ot any aucceeaor iruetna.
<br /> fPay�?o/Yl �
<br /> tANKEflS SVSTEMS,INC.,5T.ClOUD.MN 66J01 It�L00•987Q94/1 FOPM OCP�MTGNE 8/1QI81 __ �-�
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