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<br /> COVENANTB � �.'��'-:
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<br /> 1. P�ym�nt�, Borrower nprenn to m�ke �II paYment� nn the lnoiN�d debt whm�ds°'to eny nmoumn Dorr we�odwne an theteo�ured debt �
<br /> paym�nl� Lender receWos Irom Borrnwnr or for (3o1W i���N��I�„�?(,dr 1b�flyment ol ihn sncurod debt ocaue Inr nny ronean, It will
<br /> I aKClinlve al Inteteot or prfnc�p��� secnnd tu Intero�t,end�ern�t•L�}�q�j1 � P '
<br /> not redur.e m eKCUt�xny echeduled payinnm untll the e 1�p�, �� k���'�'�'
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<br /> 2. Cl�ltn� Ap�ln�t TIH�•Borrower wfll p�V ell tsKa�, ea�lf�lmerm, nnd MM�ohua�s �ItrlUutabin 1�tlie property when due nnd wlll clnfend litlo .
<br /> defe mee whlchfl8orrower mey�avn opalnst pe�tlespwhu i��pply Inbo�r a�r me9erlal�lo Imp ovn o�rYmnlntarin�tfrof�pf opni�yfleelpn eny nphts,clelrnn or
<br /> " 3. Intur�nc�. �arrownr will keep the property Ineurod under term� acceptnble to LAnder at Borrower'e axpenoo and for Londer's henoflt.All •
<br /> u�suranco policio�ci�ull Includo�ctnnAnr�i mnrtpepe clnuee In fnvar of LonJer.Londor wlll be named e�loae payoe or ee thn inourod on e�n eorth
<br /> Insurenco pollay.Any inturance proceed�m�y be epplied,withln Lentler'�dlscretion, to e�tlier tlie re�toration or ropuir of tho domapod p p Y
<br /> or to the eecured debt.If Lender requlre�martp�oe Insur�nce,Botrower spree�to malnt�in wch In�urancs for a�lonp ae Lendor requlres. . ��p,._�
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<br /> i 4.Prop�rty Borrower will keep the property In pood c�nditfon and make eil repalrs reaconabiy nece��ery.
<br /> }•'""'""� S 6. Expens��.9orrower egreea to pey eli Lender'�expen�ec, InciudlnQ roasonable attorneys'fees,if Borrower breake eny covenente In this deed ;�,;,;�
<br /> ,. �•"''�" Z of trust�r In any obllpatlon eecurod by thle dsed o}trust.Bbrrower wlll pey these emounta to Lender es provided In Covenent 9 of thls deed ot �__
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<br /> + 8. Prlor S�curitY Int�n�ts.Uniess Borrower flrsY obtalns Landar'a written coneent, Borrower wlli not maka or permit any changes to any prlor , •,,,ti:�r.-
<br /> seeurity Intereats. Borrower will per}orm all af Borrower'e obligatlone under eny prior mortgage, deed of trust or other security agreement, Y�;�u_
<br /> f Including Borrower's covenants to make payments when due. _____
<br /> ` 7.Aulpnm�nt of R�nt��nd Profits.Borrower aseigns to Lender the rente and profits oi the property.Unless Borrower end Lender have agreed "
<br /> otherwise In writinp, Borrower mey collect and reteln the rente as long as Borrower is not in default. If Borrower defaults, Lender, Lender's �u�•=!_
<br /> •� agent, or a court appointed receiver maV teke poasesaion and manage the property and collect the rente. Any rents Lender collocts ahall be z-;,__,
<br /> appliad first to the coets of managing the property, including court costs and ettornoys' fees, commissions to rental agents, and eny other �t i,
<br /> ,. � necessary related exponses.Tho rematning amount of rente wfll then apply to payments on the secured debt as provfded in Covenant 1. ___
<br /> � 8.Leeeehdds•Condominiums;Pl�nn�d Untt D�v�lopmmte..Borrower agrees to comply with the provieions of eny lease if this deed of trust is on _
<br /> a leasohold. I{this deed of trust is on a unft in a condommium or a plenned unit dnvolopment. Bor�ower wili perform all of Borrowor's dutloc _ _
<br /> under tiitl Covenents,by-lews,or reguletions ot the condornlnlum or pianned unit development. ��.--�
<br /> ' �� 9. Authodty of L�nd�r to Puform tar Borrown. If Borrowar fails to perform any of Borrower's dutlea under this deed of trust, Lendar mey =
<br /> - perform the duties or cause them to be performed. Lender may slgn 0orrower's name or pey eny amount If necessary for performance. If eny —
<br /> canstruction on the proporty is dlecontinued or not carrled on in a reasoneble manner,Lender mey do whntever le necessery to protect Lender's �';'::�
<br /> { security interest in the property.This mey Include completing the conetructfon.
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<br /> ¢ � Lender's failure to perform will not preclutle Lender from exercising any of its other rights under the lew or this deed of trust. ��..
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<br /> Any amounts pafd by Lender to protect Lender's aecuriry interest will be secured by this deed of trust.Such emounts will be due an demand �,.
<br /> and wfil bear intereat from the dete of the payment until pnid in full at the interest rate in effect on the secured debt. K_
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<br /> 10. D�f�ult �nd Accdw�tlon. If Borrower talls to make eny peyment when due or breeks any covanants under this deed of trust or eny __
<br /> obligatlon secured by this deed of trust ar any prior mortpage or deed of trust,Lender may eccelera��ceble lewurity of the secured debt end
<br /> demand immediate payment and may fnvoke the power of sale end any other remedies permitted by app
<br /> - _-=�-� 17.Rar,ues!far NoMe�of Dsfsult.It Is hernby requested that copies of the notices of defeult and seie be sent to each person who is a perty ___
<br /> hereto, at the eddreea of each such person,as set torth here�n.
<br /> 12.Powar of Sd�.If the Lender invokes the power of sale,tho Trustee shall flrst record In the office of the register of deeda of each county
<br /> ,� wharein the trust property or aome part or parcel thereof is situated a notice of detault contelning the information required by lew.The Truatee
<br /> ;� shell also mail copiea of the notice of defauit to the Borrower, to each person who Is a party hereto, and to other peraons as Psenc�L�bndanY
<br /> �( applicable law. Not less then one month aftar the Trustee records the notice of default, or two months If the trust property Y
<br /> y incarporatad city or viliage and ie ueed in farming operatlons carried on by the trustor,the Trustee shell pive public notice of sale to the pereona
<br /> and in tha mannor prescribed by apppliceble law.Trustee, without demand on Borrower, ehali sell the property et public auction to the highest
<br /> bidder. If required by the Ferm Homestoad Protection Act,1'rustee shell offer the property in two separete seles as requlred by appllcable law.
<br /> Trustee may poetpone sele of ali or any percel of the property by public announcament et the tfine and plece of eny prevlously schedulad sele.
<br /> Lender or its deelgnee mey purchese the property et any sale.
<br /> Upon recelpt of paYmont of the price bfd,Truetoe shall deliver to the purchaser Trustee's deed conveying the property.The recitiels contalned in
<br /> Trustee's deed eheli be prime fecle evidlence of the truth of the statementa contained tlierein.Truetee shail apply the proceeda of the sale in the
<br /> reins1taten�ent feose'lb)tolall�sumse6ecu ed by this�deed of�tu st,and(cllthet belance eif any,bto he persons le¢ally entfUed ta eceive�t,feea a�d
<br /> 13.Fot�closun.At Lender'e option,thfs deed of trust mey be foreclosed in the manner provide by eppliceblo law for forecloaure of mortpeges ��
<br /> - � on real property.
<br /> � r� 1 14.Insp�otlon.Lender may anter the property to inepect it if Lender givea Borrower notice beforehand.The notice must state the raasoneble
<br /> �'� � ceuse for Londer's fnapection.
<br /> 16.Cond�mnation.Borrower assigns to Lender the proceeds of any award or claim for damages connectod with a��ndemnation or other tA!���g _
<br /> of ell or any part of the property.Such proceeds wili be applied as provided in Covonant i.This nssignment Is subJect to the terms of any p�lor
<br /> � security epreement.
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<br /> ; 18.Wslvtr. By oxercising any remedy avaflable to Londer, Lender doea not give up any rights to later uae any other remedy.By not oxerGs ng =__
<br /> � any remedy upon Borrower's dofoult,Londer does not waive any right to later consider tho event a default if it happens agaln. _-
<br /> � 17. Joint and S�v�r�l Llsbllity; Co•tlyn�n; Su¢couoro and As�ipns Bound. AII duties under this deed of trust ere �oint end several. Any
<br /> ;� � Borrower who co-Bigns thls doed of trust but does not co-sign the underlying debt Instrumentls) does so only to grant ond convey that '
<br /> . Y S Borrower's intorest in the property to tho Trustee under tho terma oF this doed of trust.In additto�L such a 8orrower agrees that the Lendor end ,,.--
<br /> � dabt wiihout that Borrowerts�consent anduwithoutreleas n8 t a�t Borroweefrom t e terms of this doed of uust this deed of trust or the securad �`—
<br /> The duties and benofits of this deed of truat shell bind and bonefit the successors and assigns of Lender ond Borrower.
<br />' � 18.NoUes. Unless otherwiso roquired by law,any notice to Borrower shall be given by dolfvering it or by mailing It by certifiad mni�oddressed to
<br /> h roport eddross or any other addross tl�at Borrowar has given to Lender. Bon�owor will give eny notice�oticotorLondertshelJl "'��°•
<br /> Borrower at t e p Y si nated.An othe �`=--� '�
<br /> • i meil to Lender's addross on page 1 of this doed of trust,or to any other address which Londor has de g Y ; ,
<br /> be sont to Lendor's eddress es stetod on page 1 of this deud of trust. ��:;.'
<br /> - Any notfce shall be doamed to havo been givon to Borrownr or Lendor when glven in tho mannor statod above.
<br />- 19.Tran�fer of the Prop�rty or e Beneflalel Inttnet In ths Borrow�r.If all or any pert of the proparty or any Interest in it Is sold or t�ansferrod
<br /> without Londor's prfor wrftten consont. Lender may domund immedleto peyment oi tho socurod debt. Lendor may also deman�l IMmodinto
<br /> I d mand1pioymenB/n�the�above situati ns if iiis prohibtod by federo�l lawras oi the daterof his deed�of trusLnsferrod. However, Lender mey not
<br /> — � 20. Rsconveyence.Whon the oblfgation socurod by this deod of trust has boon pafd, and Lender has no furthor obiipation to mato Advancos
<br /> under tho insirumonts or ogroomonts secured by this dood of trust, the Trustee sholl, upon written request by tho Lender,rvconvey the trust
<br /> nhllnatinn�o sntsffedSBartoworshnlltpa yany ecordatfone osta.er's succos�or in intarost, the trust doed end the noto or othor ovidonce of the
<br /> ' � 21.ySuccesaor Trustee. Londor, ut Londor's option, mny romova Trustno and appoint a succossur trustee by first, meiling o copy ot tno -"--
<br /> substitution of trustee os roquirod by applicoblo lew,nnd thon,by filing tho substitution of trustoo for rncord in the offico of tho registor of doods
<br /> su co d to all tho power?duttoss authonty end titlo oft ho T ust e numed itn tha�lood oi trust ond oi any�suCCOSSOrVtrusteo.of tho property, shall
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<br /> � BANKE�S Sv5TfM5.MC.St CLOUD.MN 66701 11 800 39 7 27d11 FONM OCP MTG NE G�79�J1 _ . .
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