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<br /> ., t a7/'� ��III�V I ;�:.R
<br /> 4, COVENANTd ; _
<br /> �, ��ym�nt�. Bqrrow�r �prea� to makq eli p�ymente on the cecured debt when duo. Uniese Borrower and Lender npree othuwise, ��Y
<br /> ' pnyment� I.snd�r r4c�lves Irom Borrower or for Borrower's bene�ntclna�i bt a�pP�e1 d f�ir,t ment of the secu ed debt occun for any reaionalttlw�lll ' -...
<br /> , excluslw o}Intere�t or princlpel,�econd to Intere�t,and then to p P P D V
<br /> not reduco or oxcuee any scheduled payment untll the secured debt le patd In fuli.
<br /> 2.Cidm�Ap�mt7�11�,Borr���(�wfll pay all taxea,a�eieemente,end other charpea attrfbutable to the property when due and wlll defend title
<br /> to the praparty apalh�t eny c�Ielme Yvhleh�vould impalr the Ilen of thle daed of trust. Lender mey require Borrower to aesipn nny rlphte,elalme or �
<br /> ,� � defenss�whlch 8or�we���npy heve eyein t plrtle�who kuppiy labor or meterlale to improve or melntein the property.
<br /> ` 3,UsurNte�. Borrowerwill keep the property inaured under tsrms acceptebte to Lender at Borrower's expense end for Lender'a benefit.d�►II
<br /> in�urance pollcie�shell include��tandard mortgape cleute In fsvor ot Lender.Lender v+ill bo nemed ee loss payee or es the insured on any such
<br /> or8tot he eecuied deht�Ii Lenderpoquiresemorigege Insu�ence�t Bo«owe�eg e�es toimainteintsuchhn ur�ance for as Ionpiee Lender�equlres roperty
<br /> {s� 4.Prop�rty.Borrower wlll keep the property In good conditlon end meke ali repafre reasonably necessary. - -
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<br /> ••';`'� � 6.Hx p�ni��.Borrower egreee to pay all Lender's expenses,including reseonable attorneys'fees,If Borrowor breaks eny covenents In thla deed ,
<br /> .. •-�'�'S of truat or In any obllgation seCUre d by t h ls dee d o f t r u s t.B o r r o w e r wlll pa y these amounte to Lender as provided i�Covenent 9 of this deed ot
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<br /> tniat.
<br /> � 8.Prior 8ntereatal�8onower�will perfo m ellf�oftBorrowerLs obli8etions under$eny�prior mortgee�da d of Yrustror�otherc8ecurityteg eementr :S �
<br /> eecu►Ity ==-
<br /> ; Includlnp Borrower's covenants to make payments when due. �__-
<br /> 7.Astlpnm�nt of R�nt��nd Proftt�.Borrower asslgns to Lender the rente and protits of the property.Unlesa Borrower and Lender hava agreed
<br /> apent oDe e�c urrtf appo ntod receiver mayctakedpossession and manage the p o�portyrand�collect the rents8 Any ren eelender coilects shale be
<br /> � epplfed first to the coste of inenaping the property, Inciuding court co�t to�a ment�on the secured d�ebt as provlded�In�Covenentd�any other
<br /> neceseery retated expenaes.The remelning amount of rente wili then app Y P Y
<br /> � � a�leaReholdal�thia de d�of t�unt�is�on a unip�n a�condominum or a plunned unitmS veloipm ntpBorrower wiil perform�allhof Bo ower e8d tlea
<br /> �, t i under the covenents,bylaws,ur reguletions of the condomfnium or plenned unit development. c
<br /> 9. Authority of L�nda to P�rform tor Borrow�r. Ii Borrower fails to perform any ot Borrower's dutlas undor this daed of truat, I.ender mey M_ _
<br /> � parform the dutiea ar cauae them to 6e performed. Lender may sign 8orrower's name or pay any amount if neceasary tor perforrnance.If any -
<br /> security lntereat Int he propertyaThis�mayenclude completing the co structonmenner,Lender may do whatever Is necessary to protect Lender's �=
<br /> � � , Lender's failuro to perform wfll not proclude Lender from oxercising any of its other r ig hts un der t he law o r t h i s d e e d o i t r u s t. �
<br /> ` Any amounts paid by Londer to protect Lender's security interest will be secured by this deed of trust. Such amounts wili be due on demand �
<br /> � end will bear interest from the dete of the payment untll pafd in full at the Interest rate in eNect on the secured debt. �.;
<br /> �•� � 10. O�hult �nd Aac�t�t�don. If Borrower fails to rnaka eny payment when due or breaks any covenants under thia deed of Vust or eny l
<br /> w
<br /> � i oblipatlon secured by this deed of trust or eny prior mortgege or deed of trust, Lender may eccelerate the meturity of the secured debt and r�.�
<br /> ' demand Immedfete paymont and mey Invoke the power of sale and any other remedfes permitted by appllcable Iew. �_
<br /> � � I 11. R�que�t ior Nodc�of D�fault. It Is hereby requested that copies of the notices of defeult and sele be sent to each person who is a party �
<br /> 1 hereto,at the eddress of each such person,as aet forth hereln.
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<br /> 12. Pow�r of S�i�.ii iim Le��dar trvc'�a�:hc pov'er^!""le:the Trustee shell first record In the oNice of the register af deede of eec county
<br /> l I wherein the trust property or some part or percel thereof ia situated e notice ot detautt conteining the informaiiu���eyulrsd by law.7ha T:usLee
<br /> shail elso mafl copies of the notice of default to the Borrower,to each person who is a party hareto, and to other peraona es prescribed by
<br /> f� I inco�rporoted city or v8lagehend la used In farmenp o�p erationa carried on by thectruetorethe tfrustee shellgive pubUc noticePof eeie to�the persona
<br /> J and in the manner prescribed by eppp��cable lew.7rustee,without demand on Borrower, shsll aeli the property at publla auctlon to the hfqhent
<br /> bidder.If requlred by the Ferm Homestead r^rotactlon Act,Trustee ehall offer the propertY in two eeparete sales es requlred by appBcable law.
<br /> � Lende�or1its des gnee meV purcheae the proper y at eny sele�by public ennouncement at the tlme and plece of eny prevfouely schoduled sale. �
<br /> Upon reeeipt of pa5rment of the priee bld,Trustee shall deliver to the purcheser Trustee'e deed eonveyfng the property.The reeitiate contained in
<br /> Trustee's deed sheli be prime facle evidience of tha truth of the statementn contetned thereln.Truatee ahnll epply the proceede of the eale In the
<br /> relnstat ment feee��lb)to�atl eums6secu ed by this�de�ed of�trust uand lcl'the balance eif ny tlo the pe�eona�epally ent tledl tor ecefve it. f"ee end
<br /> 13. Fa�closun. At Lender's option,thls deed of trust may be foraclosed In the mannar provide by appliceble law for foreclo8ure ot mottgapea _—
<br /> , on real property.
<br /> �'. � 14. Intp�adon. Lender may enter the propnrty to inspect It ff Lender Afves Borrower notice beforehand. The notice must stete the reeaonable
<br /> cause for Lender's inspectfon.
<br /> � 16.Cond�mn�don.Borrower easigns to Lender the proceeds of eny ewerd or claim for damages connected with e condemnation or other taking
<br /> of all or any pert of the propertlr.Such pracoeds will 6o applled as provided In Covenent 1.This assignment it eubject to the terms of eny prior
<br /> ,� sacurity agreement. •
<br /> I 16.WNv�r.By exercisiny eny remedy available to Lender, Lendor does not give u�any righte to letsr use eny other remedy.By not exercising
<br /> �, any remedy upon Borrowor's default,Lender does not waive any right to later cons der the event a defeuit if it happens agafn.
<br /> :, 17. Jdnt�M S�v�r�l Llability Co•sipour, Succ�rsors snd Aasipns Bound. AI! duties under this deed of trust are Jofnt and sovnrel. Any
<br /> � Borrower who co•aigns this deed oi trust but does not co•sign the underlying debt inatrumentlsl does so only to grant and convey that
<br /> Borrower's Intereat in the property to the Trustee under the terms of thia doed of trust. In addition, such a Borrower agrees that the Lender end
<br /> any other Borrower under thle deed oi trust may extend, modify or make any uthor changoe In the terms of this deed of trust or the aecured
<br /> ; debt without that Borrower's consent and wfthout releasin8 that Borrower from the terms of thfe deed of trust. �•�
<br /> •s � The dutfes and benefita of this deed of truat shall bfnd and bonefit the successors and asaigns of Lender end Borrower. �-�
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<br /> � 18.Notic�.Unless otherwise requirod by law,eny notice to Borrower shall be pivon by dellvering it or by malling It by certifiod mafl addressed to �,3
<br /> , � Borrower at tho property address or eny other address that Borrower hos g��en to Lender, Borrower will give nny notice to Lender by certified .�y.-._
<br /> mail to Lender's address on page 1 of this deed of trust,or to any other eddress which Londer has designated.Any other notica to Lendor shell �,�,����
<br /> i bo sent to Lender's addross as statod on pape t of thls deed of trust. �=•:
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<br /> i Any notice shall be deemed to have been given to Borrower or Lender when given in tho manner steted above. ;:._.,�r-
<br /> � 19.Trenafer of th�Propsrty or a Btn�flclel Int�rsst In th�Borrow�r. If ali or any part of the propertV or eny intorest in it fe sold or treneferred �
<br /> � without Londer's prlor written consont, Lender mny domand Immedlete payment of the securod debt. Lender may also demend immedlato
<br /> payment if the Borrower fe not a notural person and a beneficial Intorest �n tho Borrower fs sold or transferrod. Howovor, Londer may not
<br /> domand pnyment in the obovo situations i(it is prohibitod by fodoral law os of tho de�o of this deed of truet.
<br /> ! 20.Heconv�yence. Whon tho obligation socured by this doad of trust hns boon pnid, and Landar hae no furthor obligation to make advances
<br /> � under the fnstrumonts or agroements socurod by thie daed of trust, the Trustoe shall, upon writton requa3t by the Londer,reconvoy tha trust
<br /> � proporiy.The Londer shell duliver to tho Borrawor,cr to Borrower'c succossor in intorost,tho trust dead and tha note or other ovidenco of the
<br /> , obliAetion so satisfiod.Borrownr shall pay any rocordetion costs.
<br /> � 21`Succesaor�Tr�uste e�.andea,d hv nnu�licablo latwnand thon,by fili$�tho sub tftutlon�of trustoe forrecordtin tho off ce of thegegi•tepof daeds
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<br /> - • o��.o.�w......... ...."" " . . .. " '"""" ...i.�._...................... �
<br /> � of each county in which tha trust property, or somo pnrt tnereor, IR 611Uetvu. ttin eacveaev� .��a.ao, ....�...,..,....•.,,,...•,.,...••••--,.•....-.... -••-••
<br /> ' succeed to oll che powor,dutios, authonty and title of the Trustoo named in the deed of trust and of any successor trustne.
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<br /> lpoge 2 017.1 I
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<br /> OANKEHS SYSTEMS.INC.5T CLUVD.MN 6A301 it AO(1 997 79a�1 FONM OCP MTO�NE 8�19l91 _ i
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