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<br />� • ` COVENANT6 '-,.
<br /> ''�, : _.,
<br /> • 1. P�ym�nts. Borrowsr �proe�to m�ke ali peymen q„j n due. Unle�� Borrower end Lender agrea otherwine, eny :r"�r:i�
<br /> p�ym�nt�Lerxler recelve�from Borrower or io+� e fint to eny amounts Borrower owea on the secured debt ,
<br /> exclu�fvs of Intere�t or princlpal,tecond to In�Br��� i repeyment of the�ecured debt occurs for any reeson,it will
<br /> not reduce or excu�e sny�chedulad peyment untll, e s�a • -
<br /> 2.CINms Apa�mt Tid�.Borrower will pay ell't�����r=���N���,t�� • attribut�bl�to the property when duo And wiil dufond title .
<br /> to the prop�rty aqdntt eny clatmt whlcli would Impelr 4he Ilen o}thli deed of tru�t.Lender may requlro Borrower to asslgn any rlghta,cleima or
<br /> de}ente�which Borrower mey heve epalntt partle�who apply lebor or material�to Imprave o►mnlnt�ln the property. .':,
<br /> 3. Inwranc�. Borrowsr will keep the property In�ured under t�rm�eccepUble to l.ender et Borrower's expen�e end for Lender's benefit.All . -
<br /> Imurence palicls��hall includu e ttanderd mort �pe clauts In fevor ot Lender.Lender wlll be named a�lose payee or ee the ineured on any euch �'f_:
<br /> or�to ttie��eoured debt�If Lenderroqulre�mmipege P au�ance�t Borrawe��afldroleartoimaintalntsuchhnsu e�cetfor en longiea Lendere equres�operty �'^
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<br /> �� 4.Prop�rty.Borrowar wlll ksap the property In pood conditlon end mske ail ropaln roesonabiy neceasery. -._ -
<br /> ,���,,�: 6.Exp�����. Borrower apree�to pey ail Lender's expemes,Inciudinp reasoneble ettorneys'fee�,ii Borrower 6reeks any covenants In thle deed -
<br /> of trwt or in any obllpatlon secured by thls deed of truat.Borrower wfll pay these emounts to Lender es provided In Covenent 9 of thie deed of
<br /> �• trust.
<br /> � 0.Prior S�curity Int�n�t�.Unlees Borrower fint obtaim Lendar's written consent,Bior mortgage�deed o} truetror`tother sec uitytageeomentr =_
<br /> � �scurity Interost�. Qorrowar will perform sll of Borrower'e obllgatione under any p -
<br /> Includlnp 8orrawer's covensnt�to make payments when due.
<br /> �� othe�wiae in�wr�itl 9MBor�we may colleot and re�aln�thee^rontetai lo g6ea Borroiwer�istnotPinPdefault�nlf Bonower defaultse Lender�Leridere'e _°�—
<br /> �• t
<br /> ngent, or a court eppointed receiver may take possession and manago the property and coltact the rents. Any rents Lender coiiocts shall be —_-
<br /> �i applied first to the costa of inenaping the property, includlng court costs and attorneys' fees, commiselons to rental agenta, and eny other
<br /> i neceaeary releted expensee. The remaininp emount of rents wlll thon apply to payments on the aecured dobt as provided in Covenant 1.
<br /> e�leaishohdal�h�s d d�of�tsuit is on e uni�t In s c�ondominum ores pianned unitmdeveopmtentPBorower will perform�allhof Bonowo►sbdutiea
<br /> � under the coven�nts,byI�ws,or repuletions of the condominlum or planned unit development. R
<br /> '� A. Authodty of L�nd�r to P�rtum for Borrowa. �f Borrower faiis to partorm any of Borrowm's dutioe under thia deed of trust, Lender may �
<br /> per(orm the duties or aaute them to be performed.Lender may aipn Borrowe►'a nemn or pay eny amount if neceseary for performance.It any _
<br /> eecurity Interest n the propertyaThis�mey Include completinp the c nstrucbl�e�menner,Lender may do whetever Is necessary to protect Lander'e -�.
<br /> " Londer'e feilure to perform wiil not preclude Lender from exercising any of it�other rfghte under the law or this deed of trust. ��-
<br /> Any emounts peid by Lender to proteot Londer's security Interest will 6e aecured by thls deed of truet.Such emounta wiil be due on dema�d ��-
<br /> and wiil bear intere�t from the date of the payment untll paid in fuil at the Intorest rate In effect on the secured debt.
<br /> �' 10. D�fwlt �nd Acc�t�r�tion.If Borrower fails to make any payment when due or breaks eny covenents under this deed of trust or eny `
<br />_ obligetlon secured by this deed ot trust or eny prior mortgage or deed oi truat, Lender may eccelera Ilcable awurity of the secured debt and `.
<br /> demand Immediete peyment and mey invoke the powor ot aeie end eny other remedles permitted by epp E-.:
<br /> �� hereto�et�the address of e eh uch�person eesYsetfo th herein.�opies of the notices of default end sele be sent to each person who is a pa►ty
<br /> � „ e� of nele,the Trustee shall first recard In the oNice of the register ot deeds o}each county
<br /> - °'= .` - i2.Puw�r oi^o:fa.St ihs Lardas ln.ekee thn pow -
<br /> ,nrhereln the trust property ar aome pert or parcel theraof fs eltuated a notice ot defnuit containint�erreto,�end to othe�personelee escribedtby
<br /> shall el�o meil copiea o}the notice of defauli to the Borrower, to each person who is a party h
<br />� eppllcabie law. Not less than one month efter the Truatee recorda the notice of default, or two months if the truat property a not In eny
<br /> Incorponted city or villape and Is usndlcablemew��sie�e;'witno�id mandhontBorrowere shrall sellihe�property�at public euctlon to the higheat
<br /> � . end In the manner prescribed by�eppp Iica6le law.
<br /> hldder.It required by tNe Farm Homeateed Protectton Act,Trustee ubiic ennouncemrent at the time end plsceelof nyrpreviousby Bcphoduled sale.
<br />� �� Truetee may po�tpone oals of ali or any parcei of tho proporty by p ------��
<br /> Lendar or its designee may purchese the property et eny sale.
<br /> Upon recelpt of paYment of the prlCO bid,Trustoe shali deliver to the purcheser Trusstee's deed conveyinp the property.Tha recitfale contalned In
<br /> Trustee's deed shali be prime tecie evidience of the truth of the statemente conteined therein.Trustee shell epp�y the proceeda of the sele In the
<br /> followinp order: (e) to all expenaes of the eale, including, but not Ilmited to, reeeonable Trustee'e feea, reaaonable attorney's fees arM
<br /> relnetatement feez;(b)to ali sums secured by thle deed of trust,and(c)the balence,if any,to the persons legally entitled to receive 14.
<br /> ' " 13.Fortclosun.At Lender's optlon,thle deed of truet may be forecloeed in the manner provide by epplicable law for forecloaure of mortgegea
<br /> � on real property.
<br />- � 14.Int��odon.Lnnder may entor the property to inspect it If Lender pivea Borrowar notice beforohend.The notice must atate the reaeone6le
<br /> � cause for Lender'e Inspection.
<br /> 16.Cond�mn oUK of Bhe pwropaerty�Such proceedshwill ba applied as provided in Covena tamaghis ase gnment fat subje tdt rcthe�terms of any prla� ;—
<br /> T
<br />' • of eil or eny p =
<br /> aecur(ty egreement. -
<br /> 18.WNv�r.By exercistng any remedy availeble to�ender,Lender does not glve up any rights to later use any other remedy.By not exercising
<br /> any remady upon Borrowar's default,Lender does not waivo any right to later conslder the ovent e default If it happens egaln. __
<br /> � , x. 17. Jdnt �nd S�v�r�l LlabNity; Co-�lyn�rs; Succ�s:on �nd Asilpne Bound. All duties under this doed of trust ere joint and eeverel. Any
<br /> • � � Borrower who co•signs thie deed of truat but does not co•siyn the underlying dobt Instrumentls) does so only to e«nt end convey thet __
<br /> Borrower's intereat in the praperty to the Truatee under the terms of thfa dend ot trust.In additlon,such e Borrowor agrees thet the Lender and �
<br /> . dobt without that Borrower aiconsent end without releasing h�t 8orrowe eirom the terins ofe his deed of trust this deed of trust or the secured
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<br /> � The duties end benefits of thia deod of trust sheli bind and benefit tho successors and assigna of Lender and Borrower. :
<br /> 18.Nodc�.Unless otherwise roqulred by law,any nutice to Borrower shell be given by deliverinp it or by mailing{t by certified meil addressed ro ;�W-_
<br /> � 8orrower et the properry eddress or any othar eddress that Borrower hes given to Lender. Borrower will give eny notice to Londer by certified ,�,,._
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<br /> be isent t Lendere's edd osa es statedf onip peol of this deed ofetrustthor address which Lender has designated.Any other natice to Lender shall _ _-
<br /> Any notico shell 6e deemod to hevo been pivon to Borrower ar Lender when fliven in tho manner stated abovo. - --
<br /> 19.Tnnsfn ot th�Propsrty or�B�n�flclat Int�rest in ths Bor►ow�r•If all or any pnrt of tho proporty or nny interest In it is soid or transferrod
<br /> without Lender's prior written consent, Londor may demand immediata paymnnt of the secured debt. Londer mey aiso demand immodfate
<br /> d mandtp�aymenBin the obove situatlons if itls p ohlbt d byfaderal lawras of the�deterof hi8deod�of trustnsferred. However, Ler.der may not
<br /> 20. R�conv�yena�. Whon the obligatfon sacurod by this deed of trust has boon paid, and Lender has no furthor obligation to make advances
<br /> under the in�truments or agrooments socured by this doad of trust, the Trustoo shali, upon writton request by tho Lender,reconvey the truet
<br /> proporty. The Lender sholi dalivor to tho Borrower, or to Borrower's succossor in interest, tho trust deed end tho note or other ovidence of the ,
<br /> obligation so setfsfied.Borrowor shall pay any rocordatfon costs. .
<br /> 21. Succ��sor Truatae. Londor, ut Londor's option, mayp^e hY ti���the s bstitutonfof trustee for�ecord inethe of�fico of th�e�roafstepof deods
<br /> ..ti..:«..:......f tI�ICtHG AR rnm�frod bv aDPii�BblC 1.. °!td th_ -;;g;;
<br /> _ .. _ :.M,,..... .�t ti��nronnrtv. �
<br /> � ot ench county�n which the trust property,or somo part moreor, is s�cuacad.Ti�n OV440eo�i:�u�:.�. �:•••--•^^°°°°-^`-"' • • • -
<br /> succoed to ell tho powor, dutios,outhority end title of tho Truston namod In the deed of trust end a(eny successor trustea.
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<br /> 1 BANKERS S�57fM5.1NC..St CLOUD.MN GG301 11 800 397 p7611 FORM OCP MTG NE G�1991 ,__
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