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<br /> °� COVENANT9 .,r . '-- -
<br /> 9T �.��'��'� ��:
<br /> paymenY tiMlendarrreceevea�irc�m 6orrower o�r foi Borrower'�beneflt wi�il be appl ed fi�rat to eny amounte Bon wer udwea on thet�ecured debl
<br /> not reduce or excuie eny rch°dulad paymonttuntll thee cu�nd dnbt Is�paldlin fuil��prepayment of the sacured dobt occure for eny reaeon, ft will
<br /> 1.Cl�im�ApNn�t Tid�.Bo►row��will pay ail taxo�,aue�sment�, and other charpeo attributeble to the Property whon dun�nd will defend tltle ,
<br /> ds}omi�whlcYh��a owe maY�v��pe�t P�rtlea wh0iupply/abor oa miteileli to Inipr�o�n o+ym�lntaln the p(opeiiyafslp��eny riphu,clnima or
<br /> F 3, �munna. Barrower wfll t�ep the property In�urod under tsrmM acceptable to Lender nt Horrower'e expenee and tor Londer'e benefit. All
<br /> Imurnnce pollcle��h�ll Includ�� st�ndnd mortpsp�ci�un In f�vot of Lender,I.ender wlll be nsmed e�loee peyea or at the�nsured on eny euch
<br /> f ur�ioilie�4ac�urud Jobt�1f Londorp qutren�ma�tflepa P slireneelt Bor►owe��p e�eeftolmelnteenteuchhneusnnr,otfor ae Ionpia�Lenderroquheo raperty
<br /> � ` A,p�opnty.Borrower wlil ke�p the property In good conditton end m�ke dl ropeln resaonably neceesary. {F ,
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<br /> • " "''� � of Euet or�n any obllpetion t�curedYby thfs deed of truit Oo r we'r wfll pey these atmounte to Lenderpas prov ded kn Covenent 9�01 thfehdeed o/ ___.
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<br /> � aecu�ritys tn e�resid��Bon,owei�wlll�perforn allfoftBorrower�s oblfgatlonstunder eny�prlo�r mortg p�de d O}tfUBtrOf'tOLh8tC80CUfItyt&Q8801TIBrltr �"1
<br /> ' Includlnp Borrower's covenants to make payments whon duo. ,. ,--
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<br /> � othe�wlae�in�wr�iting�Bo�ower�rney oollectaend reLainttheerentetaa longeas Borrawer latnotPin default�nif Borero�we1r defaultsBLendar,�Lerideis r_
<br /> agent, or a court eppointed receivar may take paesession and manage the property and collect the rente. Any rents Lender callects shall be _
<br /> applied ilrst to the costs ot managing the praperty, Inciuding court coit to�o �0�t eon the secur d debt es provided ineCo�enan dteny other �.,-
<br /> neceseery related expenses.iha remalning amount of rants will then epp y p Y
<br /> " 6,I.�aseholdr Condomintumr,Pimn�d Unit D�v�lopm�nt�.Borrower agreea to comply with the provisions of nny lease if this deed of tnist is on
<br /> �� und rt e�covenents,by law or regulatt ne�of the co�ndominlum or ptann d unit development�t�Borrower wlil perform all of Borrower's dutie� r
<br /> 9. Authorlty of L�nd�r to Puform far Borrow�r. If Borrower fails to perform eny of Borrower's duties undar this deed ot trust, Lender may _
<br /> , pertorm the dutieo or cause lhem to be performed. Lender may efpn 8orrower's name or pay any amount if neceseary for performance.If any -
<br /> construction on the propertyla vThis�mey Include completing the constructonmenner,Lender mey do whatever Is necesesry to protect Lender'a �
<br /> �� eecurity interest in the properlY. [ �
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<br /> �� Lender's feilure to perform will not preclude Lender from exercisfnp any oi its other righte under the law or this deed of trust. � .
<br /> and wll boarsinte est froin�t�hetdape of the peyment untiif paidtin full ati�the interest�r te n ieNect onfthe secured debt unts will be due on damand =
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<br /> �' 10. D�fauit �nd Accd�rstbn. If Borrower fails�oornmortgagepoYdeed of trustuLenderrmay accelerete the�meturityhof theesecured debt end _
<br /> obligetion secured by this deed of trust or any p Ilcable law. =_.
<br /> � demand immedfate payment end mey invoke the power of sale and any other remedies permftted by app �
<br /> � � 11, R�qu�st for Node�of D�fsult.It is hereby requested that copfes of the notices af defeult and sele be sent to each person who is a perry � __
<br />. hereto,at the addrose of each such person,as sot forth herein. _
<br /> 12.Pow�r of Sal�. If the Lender Invokes the power of sa1e,tne irustee shaii iiret racord Sn iha of.'icc at the reg4ste!of deada oi each countv °-°-_
<br /> whereln the truet property ar some part or parcel thereof Is eltuatod a notice oi default containing tha informetlon required by law.The Trustee _.
<br /> ereto, end ta other ersona as preacribed by
<br /> � eheli elso meil copiee of the notice of default to the Borrower, to each person who is a perty h P _.
<br /> . appllceble law. Not less thu� one month after the Truatee recorda the notice of default, or two months if the truet property ia not in any
<br /> r , incorporeted city or viAage md la used In ferming operationa carrled on by the trustar,the Trustee shall pive public notice of eai�to the pereon� _
<br /> � and in the menner prescribed bY appplicabie law.Truatee, without demand on Borrower,shell sell the property at public euction to the highect
<br /> F T uateelmey poatpona sale of a�or e y pe celtofttho property by publlc enfnouncemrent at the tlme end place lof anyrpQeviousl�y scheduled esele.
<br /> Lender or ite dealpnee may purchese the property et any sale. '- _
<br /> � Upon recelpt of payment of tha price bid.Trustee shell deliver to the purchasor TruBtee's deed conveyfng the property.The recftlals contalned in -
<br /> Trustee's deed ehall be prima facie evidlence of the truth of the etetements conteined thereln.Trustee shell epply the proceeda of the eete in the
<br /> foliowing order: la) to all expensea of the sale, including, but not Ilmited to, reasoneble Truetee's fees, reaeoneble ettorney's fees and
<br /> reinetatement tees; (b)to al euma secured by thte deed ot truet, and(cl the balance,if any,to the persons Iepally ontitied to rocolve ft.
<br /> ' 13.Fonclotun.At LenderY option,thiF deed of truot may be forectosed in the manner provfde by epplicable law for forectosure oi martgage�
<br /> on reai property.
<br /> 14.in�p�etlon.Lender meyentar the property to inspect ft ff Lnnder gives Borrower notice beforehand. The notice muet atate the reaaonabte
<br /> ceuee for LendeYs inepectlon.
<br /> � 16.Cond�mn�tlon.Borr�wer aseig�ne to Lender the roceeds of any award or claim for damages connected with a condemnetfon or othar taking =
<br /> � of all or any pert of th9 praperty.Such proceeds wiP be applied as provided in Covenent 1.This as8lgnment is subject to the terme of eny prior Y
<br /> security egreement. ��
<br /> � 18.W�iwa By exercising eny remedy available to Lender,Lender does not give up any righta to leter use eny other remedy.By not exercisinp __
<br /> • • .��` eny remedy upon Borrowei's defeutt,Lender does not waive any right to later consider the event a default if it heppens agaln. �;_
<br /> 17. Joint and Ssv�ral Llebilftlr;Co•ilpn�rs; Succ�t�on and A�dpnt Bound. All duties under this deed of trust are Jolnt and aeverel. Any f:•,°- � -
<br /> - � Borrower who co-algns thn deed of trust but does not co-sign the underlying debt Instrumentlsl does eo only to grant end convey that �
<br /> Borrower's interest in the property to the Trustee under the torms of this doed of trust. In additfon,such a Borrower agrees that the Lender end F'—
<br /> de�i wiin eiina Borrower�s�conaont end without 8eleesing that Borrowe rfrom the termsnof ethie deed of trust thlF deed of trust or the secured __`
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<br /> i The dutfes a�d benetits of�his dood of trust shall bind end benofit tho successors and assigns of Lender and Borrower. __ _
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<br /> 18.Nodc�.Unlass otherwi�e roquired by law,any notice to Borrower shall be B�van by dolivering ft or by mafling it by certifiud mail addressed to , -:..
<br /> Borrower at tho prodperty address or any other address that Borrower hes given to Lender.Borrower will give eny notice to Lender by certified ',1�..�_
<br />- 1 I be�sent to Lenders eddrosa as etatedfon�p geel of this daardtofat uB�thor addross which Lender has dasigneted.Any other notice to Lender shell =
<br /> ' Any notico shall be deemed to have been gfven to Borrower or Lender when fliven in the mannsr stated ebove. � ;
<br /> 1 18.Trenet�r of the Prop�ny ar e Beneflcial Int�reai in tha Borrow�r.If all or any part of the propertyobt.�Lond rrmay also de endtimmedlato
<br /> without Lender's prior written consont, Lender mey demand immediato poymont of the secured d
<br /> I d mandtpaymenB�nrthe�ahova situationsrif fifs prohibted by fodorall law as of the dete af his deedlof truaLnsferred. However, Lender mey not
<br /> ' 20. Reconv�yance.Whenthe obligation socured by this dood of trust has boen paid, end Lender has no turther obligation to mako udvences
<br /> under tho instrum�nts or�greements socurod by this deed ot trust,the Trustoe shall upon written request by tho Londor,reconvoy the truet
<br /> property.Tho Londer shaYdQlivor to tho Borrowor,or to Borrowor's succossor in intorost,the trust deed and tho note or othor ovidenco of lho
<br /> obligation so setisfiod. Bouower shall pey uny rocordation costc.
<br /> � 21. Succe�sor Tru�tse. Londer, at Lendor's.optian, may romove Trustoo nnd appoini a .otonin6Orarn�itnetha ffcn fiho�reai tnpof daeds
<br /> � 1 substitution of trustee asraquirotl by appiicaoie�uw,m�u inm�, 0r 7i7:�.d:`��ab�i9:at:�.^.�. ..__.__ -_ __ _---.
<br /> ! succo d touo I tho power�dutiess authorty nnd title ofT he Trust o named�in�tfio dood of t ustr e d of nny�succossorvtrusteo,of thn proporty, shell
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<br /> � 9ANKkNS SVSTEMS.INC.5 T ClOUD.MN G6301 11 800 397 23411 FORM OCN Mi6 NE 6�79l91 _ _„ ,_. I
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