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<br /> a� CpVENANl'a �T.- �i4'701 �:�::�;iw",:.��_
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<br /> • 1, ptym�nU. Borrower aprees to mrke NI payme�ite bn the tecuiiH�debt w1�a fhjt'to eny emour,t�Hoe ower owe�aon thetseCUred debi ^ :';.� -.
<br /> p�yments Lender recelvea from Borrower or for Botrawdl e'bMn�1tt vvlllq4�DD�
<br /> � exclu�ive o1 Intereat or princlpal,uecond to Into�eot,hnd tMn to prmclpel.If-pertlel prepayment of the eacured de6t occure tor eny reeton,it wili
<br /> not reduce or sxcu�e any�ch�duled p�yment untll the secured debt I�pald In full. �� ., ._
<br /> 2.CIYm�AooiMe�t TItl�.Borrower wlll pay dl taxes,asseument�,and other cherpet Attributable ta the propartYwhen due and will detend title .
<br /> defemi�whlcYh Borrowsr miy�hsve sQalnst pidrtl sPwho wpply laboi or matarlalr to Improve o�Ymelntdn�the property.6eign any righte,ciafms or . .
<br /> 3,Inwrwtc�. Borrower wlll ks�p ths pro�rN Insured undar term�acc�pt�bls to l.ender at Borrower's expen�e and for Lender's benefit. All vM y,.�.
<br /> in�urance policle�ahall Include a stenderd mort �pe clauae In favor of Lender.Lender wlll be nnmed u lo��psyee o►a�the Inturad on eny euch _,�_
<br /> � Insuronco pollcy,Any in�wence proceeds m�y�e applled,within I.ender'a dlacretion,to elther the reotoretlon orrepalr of thn demaged property ��5�.;s•°.;,
<br /> • •'�'' or to the��cur�d debt.If Lendsr rsquirss mort�epe inwrance,Borrower aproos to mnlntain such Ineurence for eabng ea Lender requlres. �,,-r -
<br /> ,�Mlr 4,prop��ty,Borrower wlll keep the property In yood condltlon and meke all repalrs reaeonably necesury• =,.'°__a_
<br /> �h� -•r�.'�:"z=_.
<br /> -`^"" 6.Exyms��.Borrower aproe�to pay afl Lender'o expentes.Inctudinp roesoneble attarneys'feee,If Borrower breaka eny covenants In thia daad `,���—
<br /> of trutt ot In any oblipation tecured by thit deed of truet.Borrower wlll pay these emounts to Lender as provided In Covenant 9 of thle deed of ;._�r
<br /> � '�,$tb�°•'��.
<br /> trust. '�="-
<br /> 8.Pda Saurity Inte�Rt�.Unlsss Borrower firtt obtaint Lender's written coneent,Borrower wlll not meke or permit eny chengee to any prioi .,:•���;���
<br /> ' rlor mortpape,deed of trwt or other security egreement, '._,�����
<br /> � cecurity intere4tc. Borrower will perform all of Borrower'e oblipetlons under eny p _v
<br /> a Includin� Borrowe�'a covenents to make peyments when due. ti-_--
<br /> �" 7.A��I t of R�nt��nd Profhs.Borruwer �uipns to Lender the rente end profits of the properly. Unlesa Barower and Lender have epreed ___
<br /> otherw se In writing, Borrower may collact and retain ths rents at lonp ss Borrowsr Ia not in def�ult.If Borrower default�, Lender, Lender's
<br /> epplied flret to t e cos�te�o}maneping the propertyeanc/udingd court cott�end att ro neys cfee�a t commlietonsntorrontai ngente�e�nd eny other �±=`
<br /> ' �-:
<br /> necei�ary releted expense�.The remelninp emount of rents will then epply to peymente on the secured debt ac povided in Covenent 1. �:__
<br /> � e�lea,eho daiT thpe deed ui t�usi l4 on a�wd��n a�co�i d tmi nun�ur�s plsnned unitmS velopmtontPBorrower wiit p�rform�alihof Bor�rower'a dutiee �, ,_
<br />- w • under the covenants,by-lawe,or requlatton4 of the condominlum or plenneA unit davelopment. �'"-
<br /> � 8. Authodcy uf L�ndM to P�rfam ta Bortowu. If Borrowsr fails to perform any of Borrower's dutiee undor thie deed of truat, Lender msy `;
<br /> p �=.�
<br /> perform the dutles or aauee la diecontin ed or not ce�led on In s Ireasanrab e�menner,Lender mey do wheteve�li�necosaaryto�protect Lender'i � --
<br /> %. conevuction on the properly
<br /> teaurity intere�t In the property.This may Include compieting ths conotruction.
<br /> ��• Lender'B feilure to perform will not preclude Lender from exercislnp any of ita other rlAhte under tho lew or this d�ed of trust,
<br /> Any emounts poid byf om th tdepe�of tlie peyment until pAldtln fali etf the interest�re e in�ef}ect onfthe secured debt unta wiil be due on demend �,=•
<br /> � �
<br /> end will bear intereat �:�
<br /> 10. D�trult �nd Ace�l�nUon. If Borrower teils to meke any peyment when due or break� eny covenants under this deed of trust or any
<br /> ' oblipetlon�ecured by thi�deed of trust a eny prlor mortqApe o�•deed oi truat, Lender may accelerate the nuturity of the seaured debt and �:
<br /> demand Immedlste paymant end may fnvoke the power of eaie and eny other remedfes permitted by epplicable I�w. �
<br /> " � 11,pnqW�t tw Notic� ot D�fwk.It is hereby reyuested thet copiae of the notfces of defauit and oele be sent to eeah person who Is a party �
<br /> _. ypr�ie;at the�ddress of each such perBOn,as cet forth hereln. �_
<br /> � 12.PowN of 8a1�.If the Lender Invokes the power of eele,the Trustee �h�ll Flrst rocord in the ottice nf the nplater of deeus oi each couniy _-�_ -
<br /> wherein the trust p►openy or soms pert or parcel thereof is oituated e notice of def�ult contalnin�ereto��nd to othe4uperaons�ae p otcrlbedtby
<br /> shall elso mail coples of tha notice of defeult to the Borrower,to each percon who le a party
<br /> epplicable law. Not less then one month efter the Truetee records the notice of default or two months if ihe trust property le not in any
<br /> Incwpo►ated city or viilsye end le uaed`c�ble I�aw Tru tee�w 4hou tdem�nd ontBorrowehe ahrail tsell t e�p op rtl et publio auotion to the Phlyhsat
<br /> �nd In the menner prescribed bY appp
<br /> bidder. If requlred by the Farm Homeeteed Protention Act,Trustee ehali oHer the property in two teperate saka ae requlred by eppiicabls lew.
<br />' Lendereomits dealOneo may purchese the prop rtY�t eny sa/e v by public announcement at the time end place ot any previoualy echoduled sils.
<br /> Upon receipt of payment of the price bid,Trustee sheli deliver to the purcheser Truetee'e deed conveying the property.The recitlels contelned in
<br /> Tru4tee's deed ehali be prime faole evidtence of the truth�f the atetements contained therein.Trustee afiall epply the proceede of the sele In the
<br /> followlnp order: (e! to ell expnneet of the tele, fncludlnp, but not Ilmitod to, reatonebla Truaeo e fees,roaeonable attorney'e feea and _
<br /> reinstatement feea;lbl to all sume secured by this deed of trust,end(c)the balance,If any,to the porsona legaly entitled to recefve it.
<br /> - 13.Fonelosur�.At Lendor's option,thie deed of tniat may be foreciosed In the menner provide by appliceble law for foreclosure of mortgeges
<br /> - on roel property.
<br /> � r. 1q,insp�pdon.Lender mey enter the proporty to inspect It if Lender gives Borrower notice beforehand.The notice must atate the reasonebte
<br />' , .. � cau:a 7ar Lardar's inspoc!'_r..
<br /> 16.Cond�mmtion.Borrower essfgns to lender the�roceed Iled asYprowded in Covenentamege16 a8Elgnment ie�iubJectdtorcthe�terma of any prlor �'._,
<br /> of ell or�ny pert of the p�operty.Such {xoceeds wl i be epp 7h
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<br /> . security apreement. -
<br /> 16.W�twr. BY exercisinp eny remedy avafleble to Lender,Lendar does not give up any rights to later use enyother remedy.By nat exarcislnp �'.__
<br /> any remedy upon 8onower's deteuit,Lender does not wafve eny right to later conalder the evont a default If it happens egaln. ��
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<br /> � 17,Jdnt �nd S�wral li�bility• Co•sipnxs: Succ�ssors �nd Aa�ipns Bound. Ail dutlea under tt�s deed of vuet are jotnt and several. Any
<br /> Borrower who co•aipns ti�is deed of truet but does not co-sign the underlying debt Inetrumentlsl doee eo oniy to qrent end convey that
<br /> - Borrowor's intereat In the property to the Truetee under the terms of thls deed of truat,In eddltion,such a Barrower egrees that the Lender end --
<br /> � • � any other Borrower under this deed of trust mey extend, modifv or meke eny other changos In the terms of Ihis deed of trust or the secured ---
<br /> debt without thet Borrower's consent and without releeaing that gorrower from the terms of this doed of trust.
<br /> Tha dutle�end benefits of thla deed ot trust eheii bind and benefit the sueeessors and assi0ns ot Lender end 8a��wer- ,^-
<br />� ��-'i%'�.�r-
<br /> 18.NoUa.Unleas othurwlae required by law.any notice to Borrower ahall be given by dellvering it or by mailing it by certffled mafl eddreasod to �,;T ;
<br /> Borrower et the property eddross or any other eddreea thet Borrower haa given to Lender.Borrower will give eny notice to Lender by certifled ���'
<br /> - m a i l t o L e n d er's eddrese on pe ye 1 of thie deed of truet,or to any other eddress which Lender hea deefgnated.Any othar notice to Lender shall i'.�.1
<br /> be sent to Lender'e addreas as stated on page 1 of thls doe d o f truat. ,
<br /> Any notice shail be deemed to have beon given to Borrower or Londer when givon In tho manner eteted above. _
<br /> � 19,Tranif�r of th�Prop�rty or�B�n�11c1�1 Int�nst In th�Borrow�r.If all or eny part of the property or any intereat In it la sold or trensferred �
<br /> without Lender'e prlor written consent,Londar mey demend immedlete payment of the secured debt. Lender may el�o demond Immedlate
<br /> paymont If tho Bnrrowor!s not a naturel porson ond n bonoficial fntcrost In the Darrotisar Ic sold or tranelerrod. Howovor, Londor may not
<br /> domand payment in tho obove situations if it le prohibited by faderal law as of the date of this doed of trust.
<br /> 20.Reconv�yanao. When the obligation secured by this deed of trust has been paid, and Londor has no futher obligation to make advences
<br /> under the Instruments or egreomonts secured by thls deed of trust, the Trustoe shail, upon writton request by tho l.ender, roconvey the truot
<br /> praperty.The Lender shell deliver to the Borrower,or to Borrower's succossor in fnterest,the trust deed end the note or othnr evidence oi the
<br /> ' obllgation so setisfiad.Borrowor shall pay any recordetion costs.
<br /> �_.,.�...•e ....ri.,� mwv ramovo Trustee end appofnt a auccessor trusteo by first, mailing n copy of the
<br /> --'-•-...r a....ae
<br /> ` � Z1.Succ�seor irusiw. �n���o�, " �°�. . . --
<br /> substitutian of trustoe as roqufrod by applicable�ew,and thon,by filing the substitutfon ot trustee ior rncoru ir�i��a;,�7�::a a!:�a:ov,o....,......--.--
<br /> , su ceed to ull ihe n wo tdutiess outhor t Ynnd ti/o oft h Trusteo nnmiedein�tho doed of trust and of anyisucce sor tYstoo,of tho property,shnll E
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<br /> . UAHKERS SYSTEMS.INC..ST ClOUD,MN 66301 11 p00391d7411 FORM OCP MTO HE 6/19/91 _ __ _._ _ . ;
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