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<br /> • ��i• � COVENANTS 97•� I 0��� _
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<br /> �� 1, p�ym�nq, Borraw�r �gn�s to mak� all p�ymsnts on tha �ecured debt when due. Uniess Barrower and LUnd�r a rt��th�rwla, �ny _
<br /> ��' enis Lsndnr recelvss from Borrowsr or Tor Borrower'� beneflt wili be np Ilad first to any emounts Dorrower owu on th�sacund debt �,
<br /> '� e■ m
<br /> xclu�ivs o}int�rsst ov princlp�i,��cond to int�re�t,�nd then tu princip�l.If p� I�I prepsymsnt of ths secursd debt oacur�for any reaROn,It wiil
<br /> . not nduc�or sxcus�any�ch�duied paym�nt until the secuted debt I�pald In full,
<br /> Z.Ci�lma Apdmt Thb. �orrow�tyvI)I p+y„ � � a ssmsnt�, and other aherpss ottributable to ths propsrty when due�nd uvlil defmd title
<br /> �.� to the p►opetY ap�In1t��y�Elyl�ff���cl1��(d��t e Ilan of thlt desd of tru�t.Lender m�y requlre B�rrower to sttlpn�ny rlqhtt,cl�fm�or
<br /> dsfenu�which 8or owK m�Y h�v �IF� t r �who uppty labor or m�teriai�to improve or mafntafn the property. ,
<br /> � N:!!f Ai,.. .� t '�.�ilY7
<br /> ,• 3, Inwr�nc�.Borr �r.�Yl.�wp.�tls�proAUxl►-Waursd. nder terms accepUble to Lander at BorrowsYs expense�rtd fo► Lendsr's banetit.All �
<br /> • !�� Insurenc�policiu shNl Includ���tand�rd mort��pe clau��In i�vor of Lsnd�r. Lend�r wiil b�mm�d�s lo�s payee ar as ths In�und on my such _
<br /> insurence po0ay.Any Insunnce proceeds m�y e s plied,within Lender's dlsantlon,tu sithsr ths rastoration or np�ir o}tM dam�ped property !.
<br /> � or to the cocurod dobt.!f Londor roqufros mortpapa�nsurence,Borrower epreea to maintain such Insuranca for ea lonp at Lender�equtree.
<br /> :���A 4.PropNty.Borrowsr will kaep the property In good conditlon and m�ke all rspaln reoonably necs�sary. -
<br /> f 6.E�cp�ns��.Borrower aprees to pey all Lender'a expensea Inoludinp reasonehte ettorneye'feee,If Borrower breek�any Govenant�in this deed
<br />_=K -� of tro�t o►In any obligatfon�ecured by thia deed of trust.�orrawer will pay theae emounta 2o Lender at provided in Covsnmt 9 of thb daed oi
<br /> �r �; trust. ,
<br /> , � B. Pdor S�eurity Int�nst�.Unles� Borrower ffrat obteina Lender's written cpnaent.Borrawer wlll not ma1(e or par�qi�y chenges to eny prlor
<br /> security IMeresta. Borrower wlll perform all of Borrowar's obiipatlons undAr any prior mortgsee, deed o!truut op ather eecurity apreement,
<br /> inctudlnp Borrowsr's covenmts to meke paymeMo when due. -
<br /> � 7.Ai�t t of R�nts and Pro}its. 8orrower a�sipns to Lender the rents and profits of the property.Unts�s Borrower end lender have ayreed
<br /> i'� ���• otherw ae in writing, Borrower may colieat and reteln the rents as lonp es Borrower is not In default. If Borrower defauiu, Lender,Lender's
<br />- apent,or a court appointed receiver mey take po�session snd manaqe the property and collect the rents. Any rent�Lender colleats shell be
<br />- naceliiafry reiited expsnseif The remiPniny amount of rente wlll then epply to paymenti on the sec ru ed debt ss prov ded in�Covenent�any athsr
<br />�z;•:�' •���`' 8,�wt�hotd�•Cp�dorniniumr,Pl�nn�d Unk D�vNopn�nb.Borrower a roet to comply with the p►ovioions of any bese if thb deed of trust is qo
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<br />-`�'�"'� � under ths�covensnti by liws uor repul�ttons of theccondominfum oi planned unit developmentnt, Borrower wlll perform stl of Borrower's dutiss
<br /> J�f:� . _
<br /> ,rr.:.�.._ :�;p g, Autliorlty of L�ndw w PNtorm fm Bwrown. If Borrower fails toperform any of Borrower'a duds� under thi� deed of trun, Lend�r may
<br /> -:•-,,�l;�,��: pe�form the duties or caute thsm to be pe�tormed.Lendsr msy etyn eorrower'�neme or pay any amount if necewary for performance. If any
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<br /> securltujr�intereat Int he propertytlThfs�may Include completinq the constructionmmner,Lender may do whatever is neceuary to protect Lender's
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<br />---, Lender's fallute to psrform will not pteciude Lander(rom exercisinp any of its other rights under the lew or this deed of uuat,
<br /> Any�mounts paid by Lender to proteat Lender's security interest wlli be aecured by thl�deed of trust. Such emount�wiN be due on demend
<br /> and wlll bs�r interett i►om the d�te of the psyment untli pald in full�t ths inte�s�t rate In eNeat on the seaured debt.
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<br /> �'.� ..•. � 10. D�t�ult M1d Aced�ntfon. if Borrow�r faib to make �ny paymsnt when due or breoks eny covenante under thls deed of trust or any
<br /> - demind immidl�ti piymint ar d mAy invoke the powar ot iileind+diny otM�remedieidpermitt�d by applloible In�aivw.rity of the secured debt and
<br />_•--��•.ii�.w.
<br /> :��,��j ,,�� hereto,�at thsa ddriis of aohfiuch�person easYist forth herein,coples of the notices of default end aele be sent to each penon who Is a p�rty
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<br /> ''`'� 12.Pow«of Sal�.It the Lender fnvokes the power ot sds,the Tru�tee�nail first rocord in the ofiiwe oi iiw reyG¢�,r oi daads oi s:th easmiy
<br />-�`'�-��� wherdn ths trust property or soms p�rt or parcel thsroof is aftuatad a notice of detault contalnin th�information requlrod by law.The Tru�tes
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<br /> shall dso m�il coples af tM noties of dsfault to th� Borrower,to eeoh peraon who is a parcy ereto, and to othsr persons a�pre�cribed by
<br />-��;�;���� appliasb��Iew. Not leas than on� moMh eftar ths Trustee rocord�tfie notice of defauR or twa months if th�t►utt property is not in any
<br /> __e9w� incorponted city or vfllape and i:usad in forminy opentions aarried on by the truaor,the frustas thsll pivs publla notice of sale to the psrson�
<br /> _s��, and in the m�nner prsscribed b�apppifoable law.7rustea,without demand on Borrower,sh�ll sell the prop�rty at pu6Nc auction to tM hiphust
<br /> biddK. If required by the Farm iome�t�sd Prot�otion Aat,Trustse shell otter the property in two ssparate�slss�s �equired by�ppBc�ble law.
<br /> -���_��' T�wte�may pottpon�aale of ell or any parcel of ths prop�rry by pub1io announcement at the tims and pl�cs of�ny pnvlously iaMduled nle.
<br /> �"' L�nd�r or lu daipnN may purchase ths propsrty�t any sals.
<br /> �— Upon nalpt of paVmsnt of ths prica bid,Trust�e ih�ll del(ver to ths purchise�Trustes's de�d conv�yinp th�prop�rty.The recitl�ls contdn�d In
<br /> �-"'"��'Q'"^�" Tru�t��'s desd sh�ll bs prims tacts evidience of the Vuth of the statsment�cont�ined therein.Tru�tee shall apply the proce�ds of the nle fn ths
<br /> --��::�.��_�L��f toltowinp ordsr. (a) to eN expenses of tM ede, Includinp, but not Iimited to, roasonabfe Yruatse's fees, ronon�ble�tto►rwy's fe�s ��d
<br />_��;,y�� rofnetstemsnt fees;(b)to NI sums eecured by this desd ot uust,end(o)the balance,if any,to tt»penons Iepally mtitUd to r�cNv�it.
<br /> '�� 13.Fondo�un.At Lender'a option,this deed of trust mey be fareciosed in the manner provide by applicahls law for toreelosun of moRpipes
<br /> on rai propeny.
<br /> 14.inso�atlon.Lender may enter the property to inspect it if Lender qives Borrower notica boforehand.The notice muat atete ths reasornbk
<br /> oau�e for Lendor'a in�pectbn.
<br /> 16,Cq�d�n�fion.Bonower auipns to Lende►the proceeds of eny eward or cpim for d�ma�9ea connected with�condamn�tion or other takinp
<br /> —+ security ipreement the property.Such proceeds will be applied ea provided i�Covenent 1.7hfa eseipnment ta subject to tM terms uf any prior
<br /> --=T�"��"". 16,WMwr.BY exsrcisinp any remedy avallebie to Lender,lender does not Aive u�any tlpM�to Ister use any other remedy. 8y not exercis(np
<br />-_ — _ any nm�dy upon Borrower's defeuR,Lender does not waive any ripht to I�ter cona der tM event a defauit if it happern ayaln.
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<br /> W--=���� 17,Joint and B�wrN � Ca�tyn�rs: Suca��sas and Aseipns Bound.A!I duties under thls deed of uu�t are jolnt and several. Any
<br /> v Borrower who ca�lp�s thta eed of truat but do�s not co•sipn the underlyinp debt InsVUment(a) doea so only to gnnt and convey that
<br /> - -� Barrowsr'�IMsrest In the proparty to the Truaes under the terms of thia deetl of trust.In eddklon,auch a Borrower apreee thet the Lender and
<br /> -=-'°�"""��"�� any otMr bwrow�r under this deed of truat may sxtsnd,modl{�or►nake any other chanpsa in ths terms ot thi�deed of truat or the secursd
<br /> "-'--_==�"����� debt without th�t 8ottower's consent and without roleeainp that�orrower irom the termf of thia desd of truat.
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<br /> i;.;��::;}'�%'Mfr� TM dutNs and banefits of thta deed oi uust shall bind end benefit the successon and aadpns of Lender snd Borrower.
<br />-s`;-` "�:�.; 18.Notic�.Uniess otherwlse roquired by law,any notice to Borrower shail be piven by delivering it or by mafliap it by ce►tifled mNl addrossed to
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<br /> -.., ;,. Borcower at the proparty eddrese or eny other addreaa that 8orrower haa piven to Lendar. Borrower witl pive any�oUce to Lender by ce e
<br /> mall to Lender's address on pepe 1 of thie deed of trust,or to any other eddrear which Lender has deaigneted.Any oihsr ratics to Lendsr�h�lt
<br /> � be sent to Lsnder'�addreu aa atsted on paye 1 of this deed of trutt.
<br /> -T • � �•� � � Any notice ehell be deemed to hsve been given to Borrower or Lender wMn given in the manner etated above.
<br /> � 19.Trsn�fn of the Propety a�B�tici�i IM�nit in th�Borrowtr.if ell or eny pert of the propenv or eny intereat In it h soid or Vanafsrred
<br /> without Lender's prlor wrltten consent, Lendor mey demand immediete peyment of the eecured debt. Lender may aiso dema�d Immedlats
<br />- , � � payment it the Borrower ie not e natural person and e beneticlal intereet in the Borrower le eold or trenaferced. However, Lendor may not
<br /> �; demand payment in the ebove aituatlons if it is prohlbfted by tederal law as of the date of thfa dood of trust.
<br /> 20.R�conv�y�nc�.When the obflgaUon secured by thla deed ot truet has been pald, and Londer has no funher oblipatbn to make advencea
<br /> 1 under the Inatruments or egreemente seeured by thin deed of trust,the Trustee shail,upon written requeet by the londer, reconvey the trust
<br /> - : property.The lender shatl deliver to the Borrow�er,or to Borrower'e successor In Interast,the truet deed and the note or other evidence of the
<br /> �'� - obi yl ation ao astistied. 8orrower shali pay eny reaordatlon coets.
<br /> � � 21.Succ�ua Trutte�.Lender, at Lender's,optlon, may remova,Truetee and appofnt e succeasor truatee.by firet, _mel�inp ai cropy�ot t�e
<br /> -- ---�� � 5 subEtltuttOn 01 truftee ae mquired oy eppiicaioie�aw,ano men,LY una ii�o eii`viiiiuiivi�vi a7uoiw ivi:o:..nv':.u«v.uw v....v.vr.o.v�v.C�.vw. -
<br /> of eaah county in which the trust property,or oome pert thereoT,Is a�tueted.The aucceeeor trustee,without convey�nce of the property,�hall
<br /> sucoaed to ali the power,dutlee,authority end title of the Trustee nemed In the deed of trust and of eny successor t�uttee.
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<br /> � - � BAHKERS SYSTEMS.INC..ST.CLOUD.MN 68701 It•tQ0•�9l•13N 1 FORM OCP•MT6NE 0/1997 -
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