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<br /> COVENANTS
<br />' "' L p�ym�nt�. Borrower aproe� to mik ell p�v►rsn3j�,q ht,NQ��¢,�� N'hen duo. Unlee� Borrower and Lender eQres otherwl�e, any ��„_--�
<br />. p�yment� Lender recolves f�om Borrow f a Tpr`dorfDv� Ae A(It ��n e pplled firet to eny smaunts Borrower ow�� on the necured debt ,'
<br />; excluelve of Interest or prinalpal,�econd�o In e�t,end tIS�ARb�n�Ctpol.if oiertlal prepayment of the�ecured debt occun for eny rseson,It wlll u= _
<br /> not reduce or sxcuo�my�ch�dulad p�y �nt�it�l('�h1AMY[1d bisAriid:hi�'ull. ,_.T �
<br /> � II, qMm�Aqdn�t Titl�.Borrower will psy i�taxei.�e�easmente,and other cherpes attributablo to the property when due and wlll defend tltle
<br />• ' to the property epafnat eny clalms whlch would Impalr the Ilel/abot or meterioti to Impr�o e olYmalntitn therp oqertynaelpn any rlphta,clelm�ar _ _
<br /> � defenaes which Bonower mey have apeU�t partles wha supp y .i" __
<br /> '�' 3. Irtwr�a�. Borrower wlll k��p th�prop�rty Inwrod undar term� eccept�ble to Lender�t 8orrower'� expense end lor Lsnder'� benefit. Ail , ;,�;:_
<br /> Insurance uoiiciei shall Includ�e st�ndud mort0a0s cl�use In f�vor of Lendsr.Lender wlll be nemed as loa�payse or as th�In:urod on�ny�uch • ;,_:
<br /> Insuronce policy.Any Insurance proceeds m�y be epplled, within Lender's dlscretlon,to elther the restoretlon or repelr ol the demeped property •-;,.
<br />:,,,�{lij.��;��� or to tt»cecured debt.If Lender requl�es mortgape imurance,Borrower agreec to maintain cuch Insurnnco for nc lonfl�e��ndm requlroe.
<br /> 4. Prop�rtY•Borrower will ke�p th�property In pood condition end make etl repaln rea�onebly necessery.
<br /> �*�`� 6� t�ru�Pt or�in enyroblipatlon secured 6y tM deed of tN�L��orrowernwill pay these emounri to Lender�es prov de in Cov nant 9�of thla deed of .
<br /> �� • of •
<br /> " truat.
<br /> ! p, Pda S�curlty�nt�rNU. Unless Borrower tU�t obtalno Lender'�written consent, Borrower will not make or permk any chengea to any prlor __
<br /> ; " � Includinp'Borrower's cov nanUit mek p�ym nri�wh nedueobligetione under any prior mortyage, deed of trust or other eecurity apreement. ;
<br /> i* E`
<br /> f., 7. A��I�nt�tlt nf R�nU�nd Prollt�.Borrower aisigna to Lender the renta and profits of the property.Unlesa Borrower end Lender heve aflreed �,.�..
<br /> � otherwise in writing, Borrower may collect and retain the rente es iong ae Borrower is not in defeult. If Borrower defeulte, Lender, Lander'e =
<br /> egent, ar e court eppolnted recelver may teke Noseearion angd manage the property end coilect the rente. Any renta lander collocts shali be
<br />� �� eceit6eryrolet d e penses fThe remefninp amount of rents w{fl then apply to pay onte on the�secu ed debt ea pro ded In�Covonen d'any other - -
<br /> �� d, LNS�hoWa•Catdotnidumt;Pbnn�d Unit D�vNopmN►ts.Borrowei aprees to comply with the provielonr of any lease If thb deed of trust la on
<br /> " � tee�eho�d.I�thls deed of trust is on a unit In a condominlum or a plenned unit development, Borrower wlll perfo�m ell of Borrowet's dutles
<br /> undar the coven�nts,byIawa,or reguletionc of the condominium or plenned unit Aevetopment. �_
<br />� 8. Authority of L«�to Putwm fot Barow�r. If Borrower faft�to_perform any of Borrower's dutiea under this deed of truat, Lender mey g�—
<br /> periorm the dutiee or couse them to be performed. Lender may�Ipn eorrower'e name or piy any amount If necessary for psrformance. It any _
<br /> conatruction on the property le dlacontinued or not cerrled on In a reesonebie menner,Lender may do whetever ia neceaeery to proteot Lender's
<br /> • � �ecurity interest in the property.Thia may Include completing the constructlon.
<br /> ., �_�f�.;`.
<br /> • � Lender's feflure to pertorm wlil not proclude Lender from exercieirp any of ite other rights under the law or this deed of tmst.
<br /> Any amounta paid by Lender to protect I.ender's secudty inte►eat will be aecured by thie deed of truet. Such amounta will be due on demend �c:�;�--
<br /> and wlll beer IntAroat from the date of the payment untll paid in full at the Interost rete in eHect on the secured debt. ��.
<br /> � �i �' =
<br /> �Q,p�}��nd pao�t�ntion. It Borrower falla to meke any payment when due or breaks eny covenante under thia deed of truet or any _
<br /> . obilgetion teCUred by thft deed of trust or eny prlar rnortpage or deed of truat, Lende►mey eccelerete the maturity of the secured debt end _
<br />° `��; demend immediete payrnent end may invoke the power of aeie and any other remedie�permitted by applicable law. _
<br /> _. herxRo at the eddroosa of eachisu h person��a8 ee tforth hareen,Coplea of the notices of default and seie be sent to each person who fs e party _.
<br /> 1 Z.Pow�r of Br�.If the Lsndsr invokes the power of sele,the Trustae eheil firet record In the offlce of the register of deeds of sach county
<br /> whsrein the trust property or�ome part or parcel thereof ie situated e notice of defauit containing the informetion requlred by law.Ths Trwtee
<br /> - ahill elso mall coples ot the notice of defauit to the Uarrower,to each person who is a perty hereto, and to other persons a�prascribsd by —
<br /> spplioable law. Not lets than one month efter the Truetee record�the notice of default,ar two months If the truet property ls not In sny
<br />�;' '• incwporotad eity or villepe and ie uaed In ferming operatlona carrled on by the truetor,the Truatee ahell give pu611c notice of eate to the penons
<br /> b dder.tlf�quired by the�Fe mbNomeitsad�Pro eatf nDAct,Trustee shel�oHer�the�propertyhnitwofcspepate ael a as rqul edtby ppllasble�lawt
<br /> ` • - Lend,reor�iti deiippnee mey purchase the�perty at any sele Y by publla announcement at the time and plece of any previoualy echeduled als.
<br />�Q�,...:-•_�r�°I.
<br /> Upon recelpt of payment of the price bid,Truatee shall dellver to ihe purcheaer Trustee's deed conveying the property.The recltids contained In
<br />" Truetee s deed ehsll be prima fecie evidlence of the truth of tho stetemente comained thereln.Truatee ehall apply the proceeds of the sele In the
<br />�''�"'�• • ' toliowinp order: (a) to sll �xpentet of the seie, Inciudinq, but not Iimited to, reaaoneble Trustee'e feea, reasornbl� attornay'e fees and
<br /> � � • relnetstement teee;(b1 to all eums secured by this deed of trust,end(c)tho bnlance,if any,to the persune lepelly entftled to recelve It.
<br />'�'-�, " 13.For�cla�un.At Lender's optlon,this deed of trunt may be Toreciosed In the manne►provide by applicable law for lorecloaure of mortpepus
<br /> ti��.'r�`<;,:.a,•:� "' on real property —
<br />_•wi�_,r,,:,,;..-�-
<br />�,t, �_„ . 14,��ap�etlon.Lender may enter the property to inepect It If Lender givea Borrower notice boforehend.The notfce must etste the reasonable
<br /> , . a ..w•.�,.
<br /> ceuce for Lender's inapection.
<br /> 16.Cond�mnation.Borrower essigna to lendor the roceede of any award or cialrn tor damag es connected with a condemnation or other teking
<br /> ot ell or eny pert of the property.Such proceede wIP be appiled ad provided In Covenent 1.7his essipnment Is subJect to tho terms of eny prtor
<br /> r • security apreement.
<br /> ��- 78.W�I��r.BY exerciaing eny remedy evaflable to Lender,Lender does not give up eny righta to later uae eny other remady. By not exerciaing =
<br /> �� eny romedy upon Borrowe�'4 default,Lender does not waivo anyrlght to leter considor the event e default If it heppens+pein. r.- _
<br /> Ffx 77.Jdnt�nd Sw�►� Lt�: Co•�ipn�►s: Succ�uors md Attipn� Bound. All duties under thla deed of trust are jolnt and severai. Any -
<br />" ' Borrower who ca•sipns thla eed of truet but doee not Co-slAn the underlyIng debt Inatrument(s) does so only to grent end convey that
<br />� � Borrower'e interest In the property to the Trustee under tha terma of this deed of trust. In edditfon,such e Borrower egrees that the Lender and �
<br />- ::; any other Borrower under thle deed of trust may extend,modilv o►meke eny other changes in the terma of thle deed of trust or tho aecured �
<br />_� " �; debt without that Borrower'�coneent and without reieasfng thm�orrower irom the terms of thle deed of trust.
<br /> S The dutien end benefits of this deed of truat ahell bind end benefit the auccessors end aseipne of Lender end Borrower. �,.y
<br />� ' ?: '18.Notic�.Unless otherwiea requlred by law,any notice to Borrowor shall bo given by delivering It or by mailing It by certlfled mail eddresaed to ��:-
<br /> Borrower et the property addresa or eny other address that Borrower hae given to Lender.Borrower wlll give any notice to Lender by certifiad
<br />' � mell to Lender's addreae on page 1 of tF�le deed of truet,or to any othor address whlch Lender hae designated.Any otMr notice to Lender ehali '.
<br /> be sent to Lender's addresa es stated on pege 1 of thla deed of trust. �
<br /> �4-i..
<br />- Any notice shali be deemod to have been piven to Borrower or lende�r when g(ven in the manner stated abovo. ;`.
<br /> � '19.Tnn�t�r of th�Propr�ty or�Bm�flcl�l Int�nst in th�Borrow�r.If ali or any part of the property or any interest hi it ia sold or treneferred `
<br /> � without Lender's prlor wrlttun consent, Londor may demend Immedlatd payment of the secured debt. Lender mey eiso domend immodlate
<br /> - , i
<br /> de andtplaymenBinrthe above situatfonerlf ites prohibted by f deral law as ot tho deterof his deedlof truatnsferred. Nowovor, Landor may not
<br /> � 20.R�conv�y�nc�.When the obiigotion secured by this doed of trust hes been paid, and Londer has no further obligation to meke advances
<br /> � under the Instrumnnte or agreements socured by thie deed of trust,the Trusteo ohali, upon written request by tho Lender, reconvey the trust
<br /> - pro�erty.The Londor chall dolivor to tha Borrower,or to Borrowor's succossor in interest,the trust dood and the note or othor evidence of the
<br /> � obllgation so o�tlefied.Borrower shall pny any rocordatfon costs.
<br /> � __—__.__ _ ._._ .__.__ _. �_...,_.•. .......... ...e,. .o.,,�,,.o Tf11CtBR Ar,d annnint n e�ucceasor trusteo bv firet, mailin� a copy of thn
<br /> - ---.... ..... Zl. SUCC�ssor �ras��. �o���o�. o. .......... .. ..
<br /> substltution of trusteo ns roquired by applicable rew,ond then,by filinp the substitutlon of trustee tor record In the ofi�co of the regfstor of uoode
<br /> of uach county in which tho trust property,or somo pnrt thereof, is eltuated.Tho auccessor trustee, without conveyence of the property,shall
<br /> succeed to all the power, dutios,authonty and title of the Trusteo namod in tho deod of trust and of eny ouccessor trusteo. ;
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<br /> UAHKERS SYSTFMS.INC..5T.CLOUD.MN G8101 Il�800��97�29411 FORM OCP 11TG-NE 6179l91 I
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