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<br /> , ' ��~ �t���'v� COVENANTB
<br /> ... 1. Pliymsr�U. 8orrower eprt�s to meke ell paymentt on the secured dabt when du9. Uniess Barrowor ond Lendur ugrao aths►wtso, an
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<br /> � paymants Londer reeeNeB f►om Borrower or gor Borcower'e benoflt wil�bo apptlod tirat to any amounte Borrowar owee on ths securad dsD
<br /> exotu�tve ot intenu or princtpal,teeond to IMeeen,and then to prtnotpat.If partiel prepeymer►t ot the t�eursd d�bt occun tov�ny�eacon,It will
<br /> �� ' �ot roduto or axeuao nny eehodutod paymont until tho seeured dobt ia patd In tuli.
<br /> � • Y.Gaims Apietntt Tttl�. 8ozrower wlll pay all texen,asseasmenta,and other charpea attrl6utab►e to tho property whon duo ond wlll datend title ,
<br /> � - to tho property agetnat eny e�aims which woutd Imyfafr the tlen ot this doed of trust.LenEor mey requlro Borrowor to asalpn any rights,clsims or
<br /> defensea which 9o�rower mey heve agalnst partlea who euppty lebor or meterialo to Improvo or malntein the prope�ty.
<br /> 3.tmmrne�. Borrower wil�keep the proparty tnsured under tarms aceeptebia to Lender at Borrower's expenae and fw Londer'e benofit. Alt
<br /> insuranco po�teies shall includo a etandard mortgage ctause in favor of Lendot.Lender witl be nemod es Ioss peyee ot as tho insurod on any such
<br /> � Insurance pollay.A�y tnsuranco proceeds mcy be eppiled,within lemter's discretlon,to aither the rastoretion or repalr ol the damepad property �
<br />- ,: , or to the secured debt.lf Lender requirea moRgage Insuronee,8onower egreea to malntein sueh inauronee for aa tong a9 lender redulres.
<br /> .",:,�„'' 4.Prop�riy.Bortower wili kaep the proparty in Bood condition and meke all repaira�easonabiy neceseery. .
<br /> : �+ 6.Exp�nsss.Borcower agrees to pey all Lender'a enpensea Inctuding reasonabte attorneys'fees,ii Bonower breaks any covenents in this deed ,:.,
<br /> of trust ar in any obiigetlon secured by thls deed ot truat. �ortower wili pay these amounts to Lender as pravided in Covenant 8 of this doed of �,;
<br /> . truffi.
<br /> ' 8.Prtor 3ecurity IMeeste.Unless Qotrawer ftrst obtains Lender'e written conaent,Boaower wAt not meke or permit any chengea to any pHor ��
<br /> � nacurity Intereab. Borrower wili pertorm all ot 8onower's obllgaUons under any priot mortgaga, deed of uuat or other sewrity agreement, ��.���_
<br /> � inetuding Bonowar's covenaMe to make peymeme when due.
<br /> � 7.Asal ot R�nts and P►oftt�.Borrower, �sssi¢ns� to Lender the rents and proflts of the property.Unless Bonawer and Lender have agruod ="
<br /> � " '+ otharw se tn wridag,Borrower mey coiloct an,cL reta:n tho ce.nts as lortg as 8onower is not in dafauit.if 8orcower defauits,lender. Lender's _
<br /> �s egent,ar a eourt appointed reeeiver ma11 tahm pvssc+ss!e.�a�m.�na�t9u�I�mperiy and coltect the rents.Any rents lsnder eoitecte shall 6e e;_"
<br /> ? applied tiret to the wsta of martaq:seg tR3 gTqge.Ky, inc.'u�ie�caw�i c��.zS attor�oys' fees, eommfssiona to rentai a onte. and any othar - _
<br /> neeessary related expensea.The eo�na:ri:rtg arzeeunt of eoMS+ac:a c4�n a,o}t.:y ta F1ay�nents on the aecured debt as provided in�oren+ant t. _
<br /> " ? �� 6.Leas�hotdst Contlominiuma:8ler�tnd Unit�ap�.Bortawer ap�nas Ecs ea��tply with the ptoviaton9 0�a�Y I.aaso if th!.s Coe+di ot tsust is on
<br /> e feasehoid.{f tAfs daed of t�ust�an a unit Sr o caadominium nr a plass.�s�uni2 tfevelopmant, Borcohre�+nriU pe?�om*e:t ou Borro�es`a df�tios __
<br /> ' under the coven�n4s,by-laws,or reguladone of the condominium or ptannad umi daveiopment. ----
<br /> � �,py�thority ap L�nd�r to porlor.�ia Borrowaa It Bottowzr 4aitg to�perform any of Borrower's duties under thia deed m4t�ust,Lender mey _
<br /> �a�4oYm th��ut:os or cause them to be pe�tormed.LerMer m�y etgn Bortower's neme orpa y any amount{f neeessary for perlormence.lt any �,.,_
<br /> ' �•}��; . ��att�r�i�sproperty is discor�Unued or not aarried on in a reasonabte manrrer, Lendet may do vrhatever ia necesearl►to protect Lender's �_.
<br /> the property.Thts mey inciudo comyletF�Ma consuuctton. Y
<br /> � �� lsnde►'s fatiure ta�rtorm w[II not preclude Lma�er bom axercising any of its other righta under the law or thie deed of trust. -
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<br /> An amounts paid by Lender to protect Lender's security interest wiit be secured by this deed of truat.Such amounts will be due on demand -=:
<br /> '� an�wtii bear interest hom the dete of the paymertt urrtii paid in fuli at the interest�ate in eNeet on the securod debt. r`
<br /> tp.WtaWt�nd Aeed�ntlon. If 8orrower fails to make any paymeM when due or breaks any eovenarrcs under thia deed of trust or any �,.�
<br /> ` ' obllgation eacvred by thts deed of trust or any p r lor mortgapa or doe d o f trust,l e rt der ma�yeeee i e►e t e t he m a t ur ri y o f t h e c e c u r e d d e b t a n d �==
<br /> „ demand immediate payment and mey invoke tha power of eale and ar►y other remediea permitted by appltcabia iaw. ` -
<br /> " 7 t.Rsyu�at tar Botiw of O�taul�k is heroby�equested thet copies oi tha�atices of defautt and sale be sent to eaeh paTSOn who is a parry
<br /> _ .... --- ° hstato,at tt�s�dr�a!s�cls�ult pu�an.x as!foKlt l�saitt. _
<br /> , 1�.Powa of SW.It the Lender inwkea the power of eate,tho T�uatsa sAall fUat recotd in the office of the reeiste�mf-¢Yirnf��of each county °""__
<br /> � v�horain the truK pmperiy w somo part or parcel thereof is situated a�Miee of dafnult containing the IntormeUon�emteltetS.smvlew.TMs Trustee �::_<
<br /> .;: , shall also meil copiea ot the Rae:ce of defauR to the Borcower. to each pes�san who 1a a pany hereto,aM to otfier p3rsm�?s as presaibed by -�,=-
<br /> sJ� , ' appliaable law.Not less thae�ama mo�rth aite�the Truatee recarda the notice of deteu or two moMhs R tha trps¢•pta�ertY is not(n am
<br />�� ineorporated dty or vlliage nn�is.used in ferming opereUona canfed on by the trustor,the�rustee ahali give puhu�rwt aa of eale to the pet6ons
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<br />-��•f �,,�:,-� and in ths manner prosa►tbed by�eppplicable taw.Tnteue,without demend on�orrower,aheil sell the propartv aR pub ia auotbn to the hfghest
<br /> �!�, �� bidder.lf roquirod by the Farm Homestend Protoction Act,Trustee shali otfer the prop�t�y in two separato Selea as requhed by app�tcabie Iaw.
<br /> :•:� T�ustee may poatpone sele o!aU a amr parcet oi rhe propeny by pubito announcema�-t af the tlme end plaae of any provl4arsN scheduted eate.
<br /> � L¢snde►or ite dedgnee mey purchcu;a.the property at any saio. ��-�
<br /> • Upon roeeSpt of paymer�t of the prica 6!d,Trustee sha�I detiver to the purehaser Trustee's deed comreying the property.The redtlats oortained in
<br /> �, � TrusUee's deed shall ba prima tacio qvtdienee of the truth of the statemeMS contafned tharein.Trustee shatl appiy the proceeda of the sale in tha
<br /> � tottowtng arder:ta)to aIi expenses of the sale, including, but not 8mhed to, reasonabie Trustee's fees,reasonable attomewa fees and __
<br />_ ' , reinstutement fees;lbf to ail eums secured by thia daed of trus4,and(el the bataneo,if amr,to the persons tegaNy endded to reeeive ic.
<br /> � � 13.Farocloeun.At LendeYs opIIon,thia desd of trust may be foree►osed in tha menner provide by applieable taw tor tareGlowre ot rt�ortpapes
<br /> `>• •• on te�i properry.
<br /> ,'..�-,.-...-,..;,h. 94.im�N�doo.Lender may enter the prope►t1I to inspect it if Londet givos Bonower noUoe befarEhnnd.The notioe muat o4ate the reasonab�e
<br />_„� •_•-,.,,,:�, ceuso tor Lender's inspesadon.
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<br /> __.;-:..:' ,.;,r:•:,, 16.Cond�Bon.Borrower aseigne to L�n�ar the proceeds ot eny eward or cfeim for dama�es connectad�vi^�1 a eortdemnatlmi w other taktng
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<br /> i,•.-�,, of ati or any patt ot the propeety.Suoh proeeeds wlll be apytled as provWed in Covena�t 1.This essipnm�ire ia nubjeat to the terms of any prior
<br /> -� , .�,:;.,;,c security agreement.
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<br />-%;�,��:` . �' any ieme y u�6or�roiwn er8e defauk. nde�i do�s no wai�any�iig�to I�ategf��der��e evant a d 0efeuk tf it hap�pens eg+�iny.����sing --
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<br />==' " 17.Jaint artd 8ward �Co�sl�s: Sucasson rnd Assipro Bound. All dutEes under this deed of trust are Joir�Y and uverai. Arty
<br />— .°�`.°�'�.�' 8orrower viho co-sipns thfs deed of trust but does rat castgn the underiving debt instrument(s1 does so only to grartit u�d convpy tl�at
<br /> r.��"`.�:� `. Borcower•a iMeroet in the property to tAe Tnistee u�er tt►e terms ot this deed of trust.ln addhEon,sueh a Bortower agroes thet the Lender and
<br /> };,�-�•rrt g�y othm Borrower undu this deed of vust�nay eztand, modifir or meke any other changes in d�e terma ot this deed of trust or the seeured
<br /> debt wtthout tlat�ottowePs wr�sent ard without releasinp that Borcower from the terma of this deed of uwt.
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<br />- � ' Tho dutiea and henefrts ot th'ss deee ot uust ehatl bind and bosr�3s�the successors and assigr�04 lender end 6ortower.
<br /> � � ' 10.Natic�.UNess oihemise roquhad by law,ar�y notiea to 8mrrawer sheil be gtvan by deiiver(ng it or by mailiny tt by cettY(!ed maii sddrossed to
<br /> . . ,r;;F,!!'(,.. 80rrower��he aroyerty addreas or e�r�other addrese that 6or►ower has giwn to Lender.8onower v�n11�iva eny nottce to lertdiar by aerdfled _
<br /> ��.� maii to tendef�ad�ess on page 1 of tMis deed of uuat,or to amr other adrresa whfch Lender has designated.d�e�y other noUce to lender sAati
<br /> � �;�'�„'�rr;� be seM to Lender's eddress as stated on pape 1 0}thia GaxB of trust. _ -
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<br /> � y A�y notice shell be deerrted Yo Q►nve been glvor�to Borrow�r a�Lereder when given in tMe maane►etated abova. <�:;:
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<br /> tg,Trruf�r of th�Vrape�q mr a e�flcfal hs�nit in 1tN B�a�wr.H atl or m+y pert of the propertY or any brterest in irt is aoid or uenaferrod �-�"-�'
<br /> wlthout Lertde�a prior wrhton eansoM, londor may demtr�imtrtodiata paymeM of tho socurod debt l,srteer mnr elso demand immediate =-.=:
<br /> � � demsnd p�t►aaoerR rn t�he aQ�ave situatl���Rp s�ohibtted bby feda at Ww e.�s o4 YRe�daBte�of twhis deed of m,s�e�.However,Lander may not _-
<br /> . 2�.R�em�vsq�nee.When�fio obllpaUon secured by this d�s�of trust has been peid a�lender has�o turdter obiFgeUOn to make edvertees �-
<br />- �rrtCsr the insVUmords ota�tmeMS secured by thia d�os m4 mcsL th�Trustee ahatf upon written reqaest bv the Lerder,reconvey the truat �'�-.
<br /> . . pmperty.iho Lender shall Qew''liar to the Borrower.or to�war's successor in iMerest,the trust Eeed and the nate m o4har ovidence of the
<br /> _ �. �� oblgatio�so snlsfled.Borrower shell pay eny recordatloro oa�.
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<br /> • �-'�• 21.8ueussor T �,entle[. �eneer"a opaon,mey remove tntstee anu�appoirtc a succes.>�-ar ue�ame oy ma�,mam� a wp�r.oi 'u�o
<br /> � subsUtutton ot au as[wuti�D ayplicnbte law,and then,by fiiing tha�6ubsmuuon ot uuatee to�reamd tn the oNice of the regtater of Beeds
<br /> • of each oourriy in��b t�t�perty,or some part thereof,ia situated.The suaoessor uustea,wiUeout conveysnce of tha property,shaU
<br /> = sucwed to All the Rovrer,duttes,authority nnd titte of ttre Trustee named in the deed oi Vust and of arry euccessor tiustae.
<br /> . Wap�2 0/71
<br /> , tlANKER9 BrBTEtA��MZ..BT.C�OUD.MN 66301 It-0tl0�191•23tt1 FOAYI OCPMTf}IJE 8/18I81
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