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<br /> ! 1. P�ymmt�. Borrower a0roe� to rneke ell pnymente on the secured daht wled fidrat�ta ny amounte Borr we�owes�on the accured detit "�w`�
<br /> paymente Lender receivea lrom Borrowo� or for Eorrownr's benafit will be epp'
<br /> excluefve of Intereet ar princlpd,l�eCOnd 2a Intdfol�t, end then to principal.If pertial prepeymont of tho secured dobt occurs for any reason,It will
<br /> not reduce or excuse any echeduled piy(nqnt untll tl►e s�+cured dobt le pald fn lult.
<br /> 2. Cl�im�Apdnst Titl�.Borrower wlll pey nH taxe�, 6e�lisments,end other cherpes ettributable to the praperty when due and will dofend title ,
<br /> to the property eoeinst sr1Y cl�fm�whlcM.wouid Impafr ths Ilan af thl�deed af trutt.Lender may require Borrower tu assipn eny righte,alaime or
<br /> defsnsas which 8or►owar m�y hevs �p�lnst partlu who eupply labor or meterlela to Improve or meintein the proparty. ;
<br /> 3. Intuane�. Borrower wlll ke�p the property Inwred under terme accepUbte to Lender at Barrower's exponse end for Lender's Uenefit. All '
<br /> � Insurartce pollcles shall Include a�tandud mortq+pe ai�u�e In favor of Lender.Lende►will be named es lots payee or ae tha Inaured on any�uch
<br /> , � Insurence policy.Any Ineurenca proceed�msy be��plied, within Lendet's dlscrntlon, to either the rostoration or repelr of the demeped property .::;;'�^
<br /> � or to tho cocurad dabt.If Lender requireR mortgaye neurance,Borrower a0reet to malntain such Insurance for ee long aa Lendor raqulrea. : ^
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<br /> 4. Prop�tty.Borrower wlll keep the property In good conditlon end meke eU ropefre reaaonabiy neceseary. e�.�•_
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<br /> �.;�. 6. Exp�nnt.Borrowcr egraea to pey all Lendar'e expenaea including reaaonable ettorneys'feea,if 6orrower breake eny aovenante in this dued .a��,wy._.
<br /> of truct or in any obllpetion secured by this deed of trunt. �orrowor wili pay ihese emounte ta Londer as provided tn Covenant 9 of thie deed of : �,_.__
<br /> 4 trust, r i�-'�:--
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<br /> � B. Pdo►Stcudty I�t�n�t�.Unleas Borrowar firat obtalnn Lender's wHtten consent, Borrower will not meke or permit eny chenges to any prtor `�i;.inr�-=�
<br /> secur i t y I n t e r e a t e. B o r r o w e r w f l l p e rf orm all of 8orrower'a oblipetlons under nny prlor mortgafle, deed of trust ur other security agreement, ---
<br /> = inaluding BorroweYa covenanis to miko paymente when due. _���_ . ,-_._
<br /> A —
<br /> 7.A�sipnm�nt of R�nt��nd ProAts.Borrower eulym to Lender the rants and profita oi the property.Unlesa Borrower and Lender have eyreed �•
<br /> •• � atherwise In wrftinp, Borrower may collect end reteln the rents aa lonp ae Borrower is not in defeult. If Borrower defaulta, Lender, Lender's `
<br /> agent, or a court eppolnted recelver mgay 4eke poaseasion angd manege the property and collect the rents. Any rents Lender collects ehall be _
<br /> nece�ssary releted expenseefThe remie(ning omount of rents will then epplyeopayments on tho se ur d deDt ee prov ded InBCovenend'any other —
<br /> ?� B.Leas�holdr Condomtniums:Pl�nr»d Unit D�v�lopm�nto.Borrower agreee to comp ly with the proviaions of any lease if this deed of trust Is on _
<br /> a lea�ehold. I�this deed of trust is on a unit in e condominium or a planned unit development,Borrower will perform ell of Borrower's duties
<br /> •1� under the covenents,by-lewe,or regulationa of the condominfum or planneG unit development.
<br /> �' 9. Authorlty of L�nd�r to P�rtarm tor�orrow�v.If Borrower fallt to perform any of Borrower't dutles under thit deed ot truat, Lender mey =
<br /> � perfotm the duties or ceuse them to be performed. Lender may sipn Borrower'a neme or poy any amount If nece�aery for performance,If uny
<br /> � securfty Interest in the p pertyaThls�may Include compileting the constructlonmannar,Lender mey do whatever is neceesary to protect Lender's
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<br /> i Lender's feilure to perform wlll not preclude Lender irom oxercising any of its other rights under the law or thia deed of trust. -
<br /> c. � and wi 1 b ar fnte�est iromt hetdapa�cf the payment until peidtln full eti the interost�rate in�effect onfthe secured debt unts wfll be due on demend
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<br /> . ��� 1 O. D�fwit �nd Accdn�tion. It Barower fails to meke eny peyment when due or breaks any covenants under this deed of trust or any �.`"
<br /> obligetion secured by this deed uf trust or any prior mortpage or deed of uust,Lender may accelerote the meturity of the secured debt and r _
<br /> demand immedlate peyment end may Invoke the power of eale and any other remedies permitted by appllceble law. k�_
<br />_ � hereRo et�tlie addr ss of each euchlpersonr SyseQforth herein.c�ples of the notices of defaut:and eeie be sent to each person who la a party =_
<br /> ,� 12.Pown of Sd�.If the Lender mvokes tha powvr uf eata, tha Trusiaa ^!::l1 1ke: secord!n Lhe offlrn nf tha�ngister of deeds of enCh county
<br /> wherein the trust property or some pert or percel thereof is oitueted a notice of defeult containing the information required by lew.The Truatee _
<br />' , � shall alao mell copiea of the notice of default to the Borrower,to eech persan who is a party hereto, and to other pereons as prescrlbed by
<br /> applicable law. Not leae than one montt.eiter the Trustee records the notice ot default,or two montha ff the truet property is not in any
<br /> X incorporated city ar villaye and ie uaed in farming operetlons carried on by the trustor,the Trustee shell give public notice of sele to the persons
<br /> • and in the manner praecribed by eppplicable law.Yrustee,without demand on Borrower, shall sell the property at public auction to the highest
<br /> '� bidder.If required by the Farm Homeatead Protection Act.Trustee shall otter the proporty In two aeparate salea es requlred by appliaable lew.
<br /> Lender omits desipnee may purchese the pr�opetty at enyr seler�by pub�ic amouncement at the timo and place of any previouaiy schedulad sele.
<br /> Upon receipt af psyment of the price bid,Trustee shall deliver to the purcheier Trustee's deed conveylng the property.The recitlals containad in
<br /> 7rustee's deed shell be prime facie evidience of the truth of the etatemente contelned therefn. Truetee shall spply the procaeds of the sele In the
<br />" � refnet iteme t feesa1lb)tolall sums eecu ed by this�deed ofitrustuand(cl�the�belanco eif enyt�o t e peeeons�egslly entiUedl t eecefva�i,fees and
<br /> ' 13.Fonclofun.At lender's option,this deed of trust may be forecloaed in the manner provide by appifcable law for forecloaure of mortgegea
<br /> on real property.
<br /> _ • 14.Insp�ction. Lender may enter the property to inspect It If Lender givea Borrower notice beforehend. The notice muet state the reasonable
<br /> cause for Lender'e Inspectfon.
<br />_- �- -' '•�� i b.Cond�mnation.Borrower ass�4�ch�a��eas wiPrbe applfed asYprov ded In C vonantAl Thia essignment s sub�oct to the terma of any prior '-
<br /> � of ail or any pert of the property. p -
<br /> security egreement.
<br /> 18.W�Iwr.By exercising eny remedy available to Lender,Lender doea not g�ve up any rights to later use any other remedy. By not exerclsing _
<br />� . � any remedy upon Borrower's default,Lender daes not waive any right to later consider the event n detault If it heppens ageln. _
<br /> ' 17. Jdnt and S�v�r�l I.IaWlity; CaiiynNS; Suoc�a�on �nd Aulpns Bound. All duties under this deed of trust are Joint and ceveral. Any _
<br />_ ' ' � Borrower who co•signs this deed of trust but doea not co•sipn the under1ying debt instrument(sl does so only to 8rant and convey that _�`�
<br /> Borrower's(ntorest in the proparty to the Trustee under the terms of this deed of trust. In addition,such a Borrower eprees that the Lender and
<br /> any other Borrower under this deed of trust may extend,modify or make any other changes In the terme of this deed of trust or the secured �_;,
<br /> .- debt without that Borrower'a consent ond without roleasing that Borrower(rom the terms of thla deed of trust.
<br /> � • The duties and benefits of thfs deed of trust shell bind end bonefit the successors and essigns of Lendor and Borrower.
<br /> Il be iven b deliverin it or b mailing it by certiffed mail addresaed to �'i` __:__
<br /> 1 8.N o U o a.U n l e s s o t h e r w i a e re q u l r e d b y l e w,a n y n o t i c e t o B o r r o w e r c h a 9 Y 9 V :.�_;_
<br /> Borrower et the property eddross or eny other address that Borrower has gIven to Lender.Borrowor will g ive any not ice to Len der by cer t l i ie d ?.A_..�,�_:.
<br /> � mefl to Lender's address on page 1 of thls deed ot trust,or to any other eddrese which Lender has designoted.Any other notice to Lender shall
<br /> ' be sent to Lender's eddress as etated on page i oi this deed of trust. �-'�'-'
<br /> Any notice shali be deemed to hava boen given to Borrower or Londer when given in the menner steted above. ��;
<br /> 19.Trensf�r of ths Prop�rty or a Bm�flci�l Inte�st In th�Borrow�r.If all or any part of the property or any interest in it is sold or transferred -_
<br /> without Lender's prfor written consent, Lendor moy damand immedlate peyment of the secured dabt. Lender may also demand immadfate
<br /> domendtp�nymenBinrtho nbov�situoilonsref ipee proh baed bY fedo�al law as of tho date ot thfs doed�oi trust nsforred. However, Lender mey not
<br /> 20. R�conv�yenc�. When thu obligetion secured by this deed of trust has boen paid, and Landor has no further obligation to meke advonces
<br /> under tho instrumonts or agreemorts securod by this deed of trust, thfl Trustoo shell, upon writton request by the Lender, reconvey the trust
<br /> = proporty.The Lender shali delivor to the Borrower,or to Borrower's succossor In interest,the trust dead ond tho noto or othor nvidence of tho
<br /> = obligation so satisfied.Borrowar shall pay any recordetion costs.
<br /> _° 21. Suecsswr Truttt�. Lander, at Lander's oPtion, me�romove Trustoo and appoint a successor trustee by first, mailing a copy of the
<br /> :__��. _... . a• o., h„aunn rna cut�s�i�ution oi trustae for record in the office ot the register of doeds
<br /> _ ` � SuDSiRULOn ot trusiea as reyui�ou b�a'v'v���•••��••�-••-••-•••-•••- n ---_
<br /> su ce d touall th�power,tdutiess nutho rty�and ti/e oft ho T usteo numod iothe deed of Yru t a d of any IsuccoesorVVuetoe,ot the property, shall
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<br /> , lpege 2 0/21 �
<br /> OANKERS SYSTEMS.INC.5T CLOUO.MN 68301 11 800�99J�23411 FORM OCP MTO NE 6/1 9�91 I
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