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<br /> ' COYENANTS
<br /> � ��'
<br /> •� 1, P�ymmts. eonower egrees t6 make ail �aymanta on the eecurad debt when due. Unioea Bonowor and londer ogroo othorwiso, an�r
<br /> � paymenta Lendot reeelvos trom Borrowor or or Borrowor's bonotit will bo apptlttd first to nny amounte Borrowor owos on th3 sacurod dob
<br /> „ excluolve of Intoreet or ptlnclpa6 4eco�to tntereat,end then to p�incipai.�f partlal prepaymant of tho eocured dobt occurs for any roason,it will
<br /> , not reduce or excuse any scheduled peymont uMll tM aoourod dabt ia paid in WII.
<br /> Z.Claima Apdnn TtBe.Sorrower wtll p�y�It ter�s,aweasments,nnd other eharges attrlbutablo to tho proporty whan duo and witl do}ond tWe
<br /> to the prope�y ag einet any etetma whteh woutd Impsir the Ilen of th13 deed of trust.Lendor mey requiro Borrower to aeslgn any rights,ctalms or ,
<br /> datanaea which 9orrowor mey hevo oee�nst parties who eupply tobor or matetiols to improve or malntaln tho proporty.
<br /> �� � 9.Insunne�. Bortower wiil keep the property f�sured unde�terms aeceptebte to Lendar et 8orrower's expenae and tor Lender's benefit.All
<br /> insurance poticiea ahatl Inctude a stenderd mortgege ciauee in tavor ot Londer.Landar wltl bo namod as loss payeo or as the inaurod on any euch
<br /> fnaurence potioy.Any Insurence ptoceeds may 6e a pliad,writhtn lsnder's diecretion,to oithor tta roatorotfon or ropalr of tho damngod proparly
<br /> ` or to the seeu►ed debt,If Lender rnquires moRpsge Pnsurmee,@onowar egreea to maiMain euch{nauranca tor as Iong ea Lender requlres.
<br /> ° •-- -�� 4.P►opet�l.Bortower wtlt keep tha prapa�ty In good wndition and meke all�epaire reasonabiy neceasary. w,`
<br /> ''� '�,,,� 6.Expsns�s.8onowar agrees to pey aq lendeYs expenses b�eludtng roasonable attomeys'feea,if Borrower breaks any eovennnts f�this deed �..
<br /> .. of truat or in any obtigetlon securad by th1a dead of truat.�ortowor witl pay these amountn to Lertder ne provided in CovenaM 8 of this deed of g
<br /> uust. E;�
<br /> 8.Pelor S�curtty Gft�r�.Unteas Borrowet fltst abtain�Lender's written consent,Bortower will not mako or parmit any ehengea to any prbr ti„�.__
<br /> . securHy interests. Bartower wiN perform all of Borrower's obtigatfons under any prior mortgnge, deed of uust or other searity agreement, �'^
<br /> t inciudn,q 8orrovrter'r3 covenents to make payments when due. �-""'
<br /> t T,Aan�:s�tt of(.�atb ond��.13orcower easigns to Lendar the rents end profits of the property.Un�ess Borcower and Lender heve ag�eed ��
<br /> ottreveYSO[n writirr�,Beeroraor ma�c cdlaat and retain the rents es�onp as Borrower is not in defauk.It Borrower detaufts,Lendar,Lendu's �=�
<br /> ' � age�?L or a court a�Dc!Med re�ce[var ma take possession and manage the property and coileot the rems. [aeeX ronts Lender cotleats ahall Do. �="="
<br /> � y
<br /> opy':sd first to Uv� sest� of enanagt�tt�e prope.•Cy.including couR coste artd ottomeys' teea,commtasicrrs to cantat ag�ente, a�d eny oD�c ___
<br /> ,, rtocc;ssary retatsd ottp3esea.t7ee renzan:n9 amo:rn4 ot reMa w11i then appiy to paym�nte on the seeured debt as proxi.ded In Covenant 1.
<br /> � ^ ' ��+:�. 8.Lmas�holds•Condantniums;PlamTdad UNt�Pa�,msnu.Borrower egreas te cc ly with the provisiona of any toaso ff thta daed of aust fa on
<br /> r.. a Eeesehold.i�tMe deed of irust is an s u�k(n a condomfrtium cr a P1art�!ocait�vetopment,Borrower wtll pertotm aR of Baar.ower's duUoa
<br /> urtdas tha covennnta,by-tawa,or regWeUons of the erortdominlum o��taanxd�ee�i4 deveiopme�t. �
<br /> r � S.AutAoriq mf l��eNr to PKfam ta Bwrow�r. If Bortower faits to�ertorm amr of Bortower'a duttes under this deed o4 fiest,Lender an�y K_
<br /> pe�form tho duttes or ceuse them to be pe�fomted.Lender mey stgn�ono�var"o name or pay any nmount H necesenry tar performanca, r amp
<br /> construction on tha proporty is disconUnued or rtot certied on in a reasonebie marmer,Lender may do whatever ia neceauary to proteot Len�m's ���-�
<br />- .. 7. � security i�rterest in the Rropetty.This mey incNde compiatlng the conatrucUon. __
<br /> � len�ee's 4aiture to perform will not predude Lender irom ezercising any of ita other r(ghte undar the tew o►thta deod ot trust. � '
<br /> �•
<br /> Any amoums pa�d by Lendar to protect Lender's securhy intares4 witi be seeured by thta dae�9 of uust.Sueh amounta wiil be due on demeni �•':
<br /> artd wlll bear irtte�ast from tha date of Ure paymeM urnil peid In ite91 ai t6to iMerest rate in effeat on the secured dabt. '�1:_:
<br /> r.w�...
<br /> 70. D�fauk snd A¢cet�reSon. if 8orrawer taits t�m�ke any payment when dun or breaks any coveneMS aander this deed of trust or emt __
<br /> ' obltgaUon sacurod by tl�is deed ot uuat or any prior mortgege or deed of trust.Lender may accelerete the mnatudty of the eecured debt anfl _
<br /> � domand immediete paymoM and may Invoke the power of eafo and any other remedlas permitted by appitenbte law. =---�
<br />� �� 11.Rpu�st fw Nartic�of OHadG it ia hereby requeated that r,oplea of the�otices of defeuk and sale be se�t to each person who ie a parry
<br /> - --- .,- �grat�,gt�w w1�lrwru ef aaeM wch ffs�rton,aa set forth herein.
<br /> � s� 12.Pawer ot SW�. It the Lende�invokes tha power ot seie,2he Ttustee ahall tirst record in the off[ce of tha rqgleter of deeda of oeen county �
<br /> � wAerein the vust property or some part or parcel thereof is skuated a notiae o4 da4autt containinp tihe informat�on required by law.ThB Truston
<br />_ sha11 atso mail copie�ot the noUce ot dafauk to the Barcower,to eaah person tivha ie e party heroto,and to othor persona as preac►Ibad 6y
<br />'� eppllcabie law.MmY leaa then one rt�oMl�atter the Truatee r000rds the notic�of defauk or two montha H the trust property ta not in my
<br />� • inc4rporated city o�vYlaQe end b used in farminp operatbns canied an by�e trustw,ffie�'rust�e afiail give pubtic notfce of sele to the persana
<br /> ,:.,. and in tM manner presalbed bY�apppNeab�e lew.Trustee,wRhout deme o�Borrower,ehall�sell ihe propetty at pubiic aucdon�o the hiphut
<br /> �� Did4er.It requtred by the Farm Flomestead P►oteatlon Act,Truatee ahatl otter the prope�ty in•two aeparate sates es requhed by appticable lew. _
<br /> ;5.r?,;;;',� •trustee mey postpone eale of atl o�any parcel of ifie property by pubUc announaemeM at the time and place of arry previouaW acheduied e�te. �.
<br /> � ; I.ender a�its deaignee may purchase the propertlr at any sele. '
<br />_ . � � .
<br /> Upon rece�pt of peyment of the prlce bid,Truatee shalf detivar to the p�lrchaser Trustee's deed conveying the praperiy.The redtials coMatnad Im
<br /> � TruaZee's deed aholi be prima fade evldience of tho uirth of the atatements contained therein.Trusteo ehail appi4 ihe peocaede of che sale in tha
<br /> ' fallowlnp arder: (a) to ait expenses of the sete, including, but not Iimited to, reasonable Trustee's feea •rensanable ettomeys fees u�!
<br /> � .. reinatetement tees;(b)to all suma seeured by this deed of trust,and Ic)the 6alance,if any,to the persons lag�liy erttitied to�eceive it.
<br /> �. 1S,Forocfown.At Lertdet's opdon,tMs dead of trvst mey ba lorecbsed in tha menner provide by applicabie law tor forealoeure ot mortgages
<br />�-,.--..-. .�:� on reet praperty.
<br />�..;.;.y,�,
<br /> .��,,,,,� • 14.tn�aktion.Lender may emer the property to [nspect it if Lender gtves Borrower notice beforehand.The notlee must stete the reasonaWa
<br /> ' � cause for lendaYS inapectton.
<br />,�:;;.�..;.. . w .
<br /> � ,. 16.Co►�tlon.Borcower aasl ans to Lender theproceads of any eward or ctaim tor demeges connected wlth a eondomnatbn or other taking
<br /> '=�;t.�"•• of ep or attY part ot the praperty.Such procoeda will be applied as provided in Covenant 1.Thia aselgnmeM ts subJeat to the tarma ot any prior
<br />- ;,�,,}, • secwhy apreement. —
<br />-a�`'. 18.{�VQwr.BY exerdsirtp any rem�available to Lender,Lender does not give up any�fghts to leter use amI other remedy.By not ezerciaMg
<br /> f" amr remedy upon BottoweYS defautt. nder does�ot aroire any r1gM to later consider the eveM e detault if it happens agatn. - -
<br /> =._. 17.doint�nd 8ar�r�tLiap�f�y�Co�tpn�n: 8uee�szay md Asslpns Hour�. AII dutiea unde�thts deed of truat are Joirrt end severet. Any
<br /> _-�.�P-• . Bmrower who eo-sipns thta deed of lruat but doet eot co-aign the urtderhrirq dabt Instrument(s)does so onty to grem and eonvey thct
<br />=�~;s�;� BorrowePe interest tn the property to the Truatee under the urms of thk�deed ot trust.In addition,aueh a Bonower aprees thet the Lendsr uid
<br /> ' any othar Bortower under this dned ot trust mey exte�odfir o�mNre f fr m�er�chnsnpos in U+e terma of thle deed o?tniat or the eecurad
<br />"'"`y„�i dlAt WIlfWttt thEt BM(OWeP6 C0118EM It1d WIthOYL felEe that Bo of thfs deed of uust.
<br /> - -��• �� The dutEea and benefits ot tAis deed of trust ahatl bind and beneflt the success�re and essfpns of Lender and Borrowar.
<br /> � � ^ �, 18.Notica.Unless othorvvtae requiresd by Isw,any ootiae to Elortower ehail be given by deiivering h or by mailtng it by certlfled maIl addressetl to
<br /> Bonower at tfie pro�rty eddraas or eny othar address that Bortower has given to lender.8ortower wiil gtve arry�otiee to Lender by cerNfled _
<br /> " � m�i)to LendePs ad rd ese on pape 1 of thia deed of tncst,or to ony other addresa whteh Lender hes designated.My other nmice to Lendor sAeU -
<br /> .' ' to soM w tondor's addresa ns etated on F.;
<br /> ., , � pape 1 of Mia deed of tncst. �R:.
<br /> �• ' Any notfcs shaU be dcemed to heve been Qiven to 8oaower er Isnder when giaron in the menner etated above. ��k'�
<br /> 18.Trr�siK at th�PropMty a�B�e�W MtKesY in�M�anoww.It es1 or mrry part of the proper�r or any i�eteroat in k ts soid ar vansferred
<br /> vrthout Lende►'e prior written conaen4 te�er ettay dema�od 1mme6iato�a�am ot the secured debt.Leromor rn.ay eiso demand immsfli�to .--
<br /> , d�..tv�a dn pHayrt�iern R�ab ve situet o�K it f�ohib d�v�1 aw zs of tt e da�e ot���0 odt aVu��ned. Howevar.Lende�may nat =-
<br /> . �.�
<br /> � T�.63seonroya�xa.Whan the obiipmtlm eecured by this doa9 ef trast has Deon paid art0 Lertder has no fuRher obllgatEon to meke advances
<br /> � ra��the insmanenta ot eements tecured by this deed of truat,tiu Te�c�e�e nhai�upon written req eat bv tAe lerodor,roeonvey the truae .r,,.
<br /> ', pre .TPce La.Tdbt shat�fiver to Ua Bonower.ot to Borrowe�'s euceen..so7 i:►fMerost,the trust d�and 4rto aoto ot other evidence o4 the '�.s=
<br /> .3ation eo eetiafled,Borrowor sheU pey any roeorEetion coste. '��
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<br /> --'�- �- -- - �� � "' l {AIIYbf�O V lNli� Iti� fO1tNr0 t�Vblbb O�qt flil O OYY{iObbVi {tV0{00 Y� ��tbt� ntOtmty O W�// V� Y�o . .
<br /> �rtitutlon o!trua[��s�f d��eppfloebte Yaw,end t�ien,by flling tho substttu t�o of truateo tor roaord In the offlce ot�regiatet of deeds
<br /> ' ot oach couiriy in Wfi]ch tM�it p oporty,or comspa rt thereot,io sttu�ted.The succosaor trustee.without conveyanco of th9 properly. she�l
<br /> succeed to a�i the power,dutioi,authority and tiUb of the Truttee�amed In the deed of trust end of eny euccessor watee.
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<br /> raape 2 or?1
<br /> BANKEA4 6v8tEM9.INC..6r.ClOUD.MN 6850111•e0618743atI F011M OGPMTbN!El19Nt ,
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