|
� _ . � .j -• .. .. -�_i.L_---•_-'-'
<br /> ,�. � . .. . . ,. . ., .... �-=CFAf„:.,T•.
<br /> �f�� � _ .. .� . .!.. :Sff 'Ch\•1.lqa.. .r. _ . ,. :. _!'_-"--��.a_ ""_.
<br /> `la��y�}_ . . � '��Q". fb..t. .• '._ ' �If'I-.lbl�:==
<br />_..�..� ._,..�- ia.,..� � Rik;,vl+e.,,�..... i•- y, ». ... .�w��+_yf/fwyr�y������y�y•M.+ a ..,_..�.�--` .
<br /> -
<br /> � .�.. :%:�.:�dw.9r[u.���:;�ui�lri�EY�iituR+�Jw•wW��fYM�"�I���t�l�i�i ibi��--------- --
<br />—.,�i�
<br /> .:��..,�e��
<br />-=`--�--- COVENAHTS �� �A���
<br />;,�.f ' 1. P�ym�nt�. Borrow�r apne� to make dl p�yments on the �ecured debt when due. Unless Bor er en �t�e r ag e otherwlae, �ny
<br /> payments Lender recelve� f►om Borrower or fa Borrower'e beneflt wtll b�epplled ilrst to any emount� Borrower oweo n the�ecured debt
<br /> �`�!!Iu excluslvs of Intere�t or princlpd,�econd to Interett,and then to princlpel.If Partlel propayment of the aecu►ed debt occure tor any reaaon.it wlll
<br /> not roduce or excuee eny scheduled payment untll the aecured debt Ia paid In tull. �-
<br /> �.,. .� 2.Clalm�ApMnat i:'B, yv'ifl"p@ f+ ��, t sssmente,and other ahergea ettributable to the property when due and wlll defend titte
<br />-'"p'"; '� to ths propstty a�p �nat�pV�� ��W i¢fi�quld�pl�r hs Ilsn of thls deed of trutt.Landsr may requiro Bo►rower to astlpn any rtphts,clelmt or
<br />_= defensn whlah B rovur�may hsv4l��7�it•M�nlls wh suppty lebor or materlelt ta Improve or malntaln the property,
<br />: '`'`' �y h`�•�y• � ' �� ' at�a
<br />�;�,_�: 3.(nsunnc�. Borr wqr�vyQl'keeD 4he propeity(nsund und�r term4 acaepnble to Lender at Borrower's expense end for l.ender's beneflt.All
<br /> ,.-�y;�� Insuranc�polfclsa oh�ll Inalude a standard mortpeys clsuse in favor of Lendu. Lendsr will be named es lo:s peyee or as the In:ured on any such
<br /> orato tho seeured debt�If LendeiPequlreesmo�rtgige 1nilurance�t Borrowerrap eles to�maintelntsuchhnsusancetfor as lonp�as Lender�requl�►oa roperty
<br /> __;;,��e� 4.Prop�rty.Oorrower wlll keep tha property In Qood condltlon end make sll ropaln reatonably necesaary.
<br /> ---�o�• S.Facp�ns�s.Borrower apreee to pey all Lender'a expenses,Includtnp reaaonsole attorneys'fees,If Borrower breakt any covenantt In thls dsed
<br /> •-;��:. � of trust ot In any obllpatlon aoeured by thls dtred of trust.Borrowet wlll pry theee amounts to Lender a�provlded In Covenant 9 of thls deed of
<br /> ���r trust.
<br />;';�,�. 8.P�ia S�euBty Int�usts. Unleas Borrower flrat obtalne Lender'e wrltten consent, Dorrower wlll not mnke or permft any cAangea to any prlor
<br /> - security Interests. Borrower wlll perform all of Borrower's obligetfona under any prlor mortgapo, deed of trust w otMr aecurlty egreement,
<br /> �� ineludinp Borrower's covenant4 to make paymente when due,
<br />=1�r�!��
<br /> - 7.Asdpnm�M of R�nts and Proftts.Borrower aeslgne to Lender the renta and profits of the proparty.Unleac Borrower end Lender have agreed
<br /> — ��� otherwite In writing, Borrower mey colleat and rotafn the ronts as long��Borrower Is not in default.If Borrower defaulte, Lender,Lender's
<br />�=ir:f� apent,or a court appolnted roceiver may take posseaslon and menega the property and collect the rents.Any rents Le�der collects shell ba
<br /> Mx�jj� appUed tlrst to the coats of managlng the property, Includln coutt cost�and attorneys'fees, commissiona to rental a aonts, and eny other
<br /> �_�?�.�e�"� necessery related expensea.Tho remalnlnp amount of rents wRl then apply to paym�nta on th�sacured dsbt aa provkled in Covenent 1.
<br /> S.L���M�olds•Coadanlntums;PI+nMd Udt D�v�lopm�nb.Borrower epreei to comply wltl�the provisiona of any lease If thl�deed of trust I�on
<br /> undsr ths co enanti by lewir or rep atlons ot the cor d�ominllum or plannen d unit devetopment�t�Borrowcr wlll perform all of Borrowsr's dutles
<br />- -----°�- 9.Authorlty of lend�►to P�rfonn ta Bortowe.!f Borrower falls to psrform my of Borrower's dutlea under thls deed of trust, Lender msy
<br /> pe�form the dutle�or esuse them to bs pe►fotm�d. Lender may slpo Borrower'i nsme or pay any amount If necsoaary for performancs. If any
<br />���`-�'� aecur(ryafnterest In the propertyaThls may Inctude completing the constructbnmanner,Lender may do whstever ia neceste►y to proteat Lender's
<br /> � Lend�r'�fa(lurs to perform will not prectude Lender from�xsrcisfny any of lu othev rlphts under ths Isw or thia deed of Vust.
<br /> T � and w1U bear lnte�re6tyfromdthetd�Ps�of the psyment until pa dtln full at�the Inteieitr ate In�eNect on the secured debt unt�w016e due on demand
<br /> 10. D�hult�nd AeeNeatlon. If Borrqwer falls to meke �ny payment when due or bre�ks sny covenanu under tNc deed oi tru:t or any
<br /> -_���� obNpatlon seourod by thls deed of trust or any prlor mortgape or deed of truet, Lender msy accelerste the msturlty of the securad dsbt and
<br /> dem�nd immedlate payment md mey Invoke the power of sale and any other remedies permitted by epptloeble law.
<br /> 11. R�quest fa Hotic�of D�fwtt.It Ia hereby requeKed that coplea of the noticee of default end sale ba sent to each perton who 1�e party
<br /> hereto,et the eddrea of each such person,es tet forth herein.
<br /> 12. Pown of SW.It ths Lendsr invokes the power ut aoia,ihs Trunaa:ha!!ik�!ttC4ld!f!Llli�4Nf��4?th�ragixtwr nt deeds of eac;i county�
<br /> whenln the truat proparty or tome part or psrcel thorsof Is slcuated a notice ot default contsl�lna ths Informstion rsquked by law.The Trua�a
<br /> — shsll d�o malt coples of the notfce of dsfault to the Borrower,to e�ch person who Is a party heroto,snd to othsr p�rson� asprescribed by
<br /> applfc�ble law. Not Isss thm one month after the Trustse recorda ths notice of default or two month�{f the trust propsrty Is not in�ny
<br /> incorponted clty or wtlaps�nd Is u�ed In farminp operatlon�cerrled on by the trustor,the frustee shall pive publlc notice of aets to ths psno�t
<br /> and In the m�nner prsscrfbed hy�apppllcabls law.Tru�tee,wlthout dem�nd o��Borrower,shall:ell the property at publlc auctlon to the hlyhea
<br /> bldder.If requlnd by ths Farm Homsstead Protectlon Act.Tru�tee ahsll oHer ths propsrtV In two sep�rate��les a�raquir�d by apR+lictble I�w.
<br /> Trust�e m�y postpons�ale of aIt or any paresl of�h�property by publia+nnouncemsnt st ths tlme and pl�ee ot�ny pnvioudy sct►�duled aale.
<br /> Lsnder or It�detlynes may purchase ths property at sny ssl�.
<br /> Upo�rscefpt of p�ym�nt ot the prlce bld,Trustee shall dellver to ths purchuer Trustee's deed conveylnp the property.Ths r�cit(�I�contalned In
<br /> Trustes'e deed shall be prima feole evldlence oi the truth of the statamentt contalned thereln.Trustee ahall�pply the procseds ot ths ule tn ths
<br /> sln�tems t tuia,lb)to�all wms$secund by thls�deed of�t ust�and 1c11tM bslmce,If eny,t�o t e pe�aons�epally entitled to recelve�t fses and
<br /> 13. Fonclo�un.At Lender'c optlon,this deed of truat may be foreclosed In tM manner provide by eppllcable law for forsc�RUre of morty�pea
<br /> on red propsrty.
<br /> 14. kup�otlon.Under may enter the prope►ty to lnapect It If Lender glve�Borrowsr notice beforehand. The notice must tt�te th�nasonsble
<br /> cause for Lender's Inspection.
<br /> 16.C�tlon.8orrower asslgns to Lender theprocaeda ot any award or clelm for damepe6 esalpnment I�s subject tom het ierms ot sny prlo
<br /> of all or any part of the proparty.Such proceeda will be epplled as provtded in Covensnt 1.Th
<br /> �ecurlty aprsement.
<br /> 1b.WalvK.By sxerclslnp eny remedY avallable to Lender.Lender doet�rat glve u�any rights to later use any p��s epslny� B��Ot exerclrlrq
<br /> eny remedy upon Borrower'�default,Lender does not walve eny rlght to I+ter cons der ths event a default If It ho
<br /> — 17. Jolot �nd S�wnl U�bMI�y• Co•dprnn: Succ��sors �nd Assiyns 8aund.All dutles undor this deed of truct are jolM and several. Any
<br /> Barrow�r who co•slpns thlt deed of truei but daet not co•slpn the underlvinp debt Insuument(n) doe�so only to prmt and convey that
<br /> Borrower's Interest In the property to the Trustee under the terma of thls deed of trust.In addltlon,such a Borrowar apreet that the Lender end
<br /> •ny other Borrower under thl:deed of trust may extond,modlfv or make sny other chanpes In the termt of thls deed of uust or the securad
<br /> _ debt without that 8orrower't content end without roleeaing that�Borrower from the terms ot thlt deed of tron.
<br />-s.��i� The dutlee end beneflts of thls deed oi truat shall bind and beneflt the successors and esslpns of Lendar snd Botrower.
<br />- 'w"''—�� 16.Notic�.Unle�e otherw�se roquired by law,eny notice to Borrower shel be plven by dellvering It or by mtfling it by certlfled mell eddreased to
<br /> �_��� `�� Borrower at the property eddress or any other address that Borrower he�piven to Lender.Borrower wllt plve any not�e to Lender by certlfied
<br /> •��',."`�.• maN to Lsnder's address on p�ge 1 of thls deed ot truet,or to any other�ddress whlch Lender has declan�ted.Any other notice to Lender shsll
<br /> �='�T-= be eent to Lender'e address�t steted on pafle 1 of this daed of trunt.
<br />.',,�:,�`!,'
<br /> ••�.r,��, Any notice shell be deemed to heve been glven to Borrower or Lender when elven In the menner stated ebove.
<br /> �` ' 19.Tr�nsi�r of th�Prop�rty a�Brn�flclal Int�r�st In th�Borcow�r.If eli or any part of the property or any tnterest In ft It sold or Vanaferred
<br /> � • without Lender's prlor wrltten conaent, Lendet may demend Immedinte peyment of the secured debt. Lender may etso demend Immedfats
<br /> - -''�� ` peyment (t ths Bonower lo not a natural person end a beneflclel Interott in the Borrower l4 told or trensferred. Howsvtr, Lender may not
<br /> ., , domand payment In the above eltuatlona ff it Ic prohlbited by federel law ai of the date of thls deed of trust.
<br /> - . 20.R�conv�yance.When the obllpation secured by thls doed of trust hea beon pald,and Lender haa�o furthor obllgetlon to meke edvencea
<br /> undor the Instruments or agreements secured by thls deod of trust,the Trusteo ehall, upon writton requeat by the Lender,roconvey the huat
<br /> ,.,,�n` property.The lender shall deliver to tho Borrower,or to Borrower's succossor In interest,the trust deed end the note or other evidence of tho
<br /> �w�4'" oblfpation so aatisfied.Borrower ahall pay any rocordation costs.
<br /> � � .�.�.__ 21. Suoc�ssor TruitN. Lender, at Lender's oPtlon, ma�remove Trustee and appoint a successor truetee by first, melling a copy of the
<br />-----__ . ... ..._ _.._.._.__ _____.e._��..�....u..��.i� �... ...d♦ .. 6..lllim*hn cuhctltutlnn nf truetaa fnr rar.nrA In tha offlce nf tha reatater nt deeds
<br /> ..�-��--°—��;-- auuauwttVt�v�uuoaoo ve.ayvuvv v�oyp..w...........-.._..._..._ ..... .---------. .
<br /> ' of eech county In whfch the trust property, or some pert thereo, Is s tuated.The successor trustee,without conveyence of the property,shall
<br /> ,' succeed to alI the power,dutfes,authority and title of tho Truatee named In the deed af huet and of any successor t�ustee.
<br /> �;
<br /> fA�Ds 2 oJ 31
<br />, BANKEHu SVSTEMS.INC..ST.CLOUD.MN 68701 I��E00�797�Y3�tl FORM OCP-MTO-NE 6/18181
<br /> i
<br />
|