|
m�, , .. �.
<br /> � . ��
<br /> r'�'• ' : .
<br /> j'���� ' . :..,..�-.-. • •tr�».wk+.x ., ._ i�,r�i:
<br /> ,2�!� . , . " '> �!°}'
<br /> .. ��r - .. �;�.��.i����:-::
<br /> � ' -_-_ -- --
<br /> ..=..i�:aT " -_
<br /> ��:tryC•°�.`-'�`_'. -
<br /> COVENANTS �r nQ]!� • .,.•;iy�;�,i,;;;_
<br /> ��bb�dtM� ..
<br /> 1, p�ym�nU. Borrower a8ree�to mske all peymenta on the oecured debt whan due. Unlesa Borrower end i.ende r ne, any
<br /> axcluelve�c�l��ntereat oe1pr nclpel,aeco d to/ntere��and then to printcipa�l,bf parU�al preipnyment of ho sec��edrdebt oc u�n 4or any oesontlltdwill .4
<br /> not roduce or oxcuta eny ac he du l e d p e y m o n t u n tll thv eocured debt le pald In full. .�.��-
<br /> 2.Cialm�ApMn�t Tfd�.Borrower wlll p�y ell taxe�. ��nt�ment�, and other charget ettributnble to the property when dua end will de4end tltle "�- _____
<br /> to the property ns alnft any cl�lms whlah woulA Impefr tho Ilan of thl�dsed ot trust.Lender mey require Borrower to aseipn sny riphtn,ciaimo ar _�
<br /> defeneee which Borrower may hsva�painst p�rtla�who aupply fabor or meterlals to Improve or maintefn the property. i_,,
<br /> 3.In�unnc�. Borrower wfll keep the property �mured under terme acceptable to Lender ot Borrower'e expense and for I.endar'a benefit. All ;;,�
<br /> inaurenee pollclea�hdl InaluAe e standnrd martg�ys el�ute in fevor o}Lender.Lender will be nemed es loss peyee or ee the inwred on eny euch :,._ _y
<br /> ineurence policy. Any In�urenCe procneds may t�e epplled,wfthln Lender'e diecrotlon,to either the ro�torotion or repeir of the damegad property ;�.r-.-f_
<br /> or to the oecured debt.IT Londor roqulroa mortpnpe Innurence,Borrower agrees to melntain such insurenco tor es long ae Lender requiree. ,;: _
<br /> � .i;.h._°-
<br /> � 4.Prop�rty.Borrower wiil keep the property In good condition end make all repairs roesonebly necessary. �;:.��
<br /> ..i. ,.:.r .. i .^t;-
<br /> "' � of E uit o�In enyrobi getfon eecured by thle�deed of Lruct Borrower�will pey these emounts to Lender�as provlded kn Covenent 9 of thishdeod of �
<br /> trust. rior +��
<br /> I 8.Prior S�curity Int�ntt�.Unless Borrower ffrst abtelna Lender'oe written conaent,B,o�r mortgage�deedaof trustror�totheresecurity egaeement,
<br /> + sacurity i�teraets. Borrower wilt perform nll of Borrower's obli ations und�r any pr ,
<br /> �, ; Including Borrower's covenants to maku payments when due. � - -
<br /> ' . ,jy._ .
<br /> , � 7,Aulqnm�nt ot R�nU�nd ProfiU.Borrower assf8na to Lender the rente end profits of the property.Unless Borrower end Lender have egreed
<br /> otherwise in wrlting, Borrower may oollect end retain the renta ae long es Borrower ia not In defauit. If Borrower defaults, Lender, l.ender's
<br /> egent,or a court appointed receiver may take possession and manege the property and collect the rents.Any rents Lender collects shall be
<br /> neneie ery rulxted expensosfThe remelning emount of ronts wRl thentapply to payments on,the secured dabt a8 pro ded in Ceovanent�any other _
<br /> g dt�
<br /> � a�laeaehoJalf thls deed of truet�e�on e unit�fn e�c ndominum or a planned unitmS velo�pm ntpBartower will perfotm�allhof B�ordrower's duties =
<br /> � ��.
<br /> � I undor the covenents,by-Iflwa,or regutatfons of the condominlum or pianned unit development. `_r.
<br /> � 8. Authority of L�nd�r to P�rform for Borrow�r. If Borrower falls to perform any of Borrower's dutiea under this deef op8�formanceeif any _
<br /> perform the duties or ceusa them to be pnriormed. Lender mey sign 8orrower's name or pay any emount if neceseery
<br /> I security interest inethe pro�erryaThis�mey include completing the construct�fonmanner, Lender may do whatever is necesaary to protect Lender's _-
<br /> " i. �
<br /> �, Lender's fallure to perform will nat preclude Lander from exercising any of its other righte under the law or this deed of trust.
<br /> � � and will bearbfnte�rost trom th dape�of the payment until�paidtin full at�the intere6trate in�effe t onfthe secured debt unts will be due on demand _
<br /> ��� 10. D�f�ult�nd Acc�l�radon, If Borrawer faila to meke eny payment when due or breeks any covenents under this deed of trunt or any :� .
<br /> i obllgation aecured by this deud of trust or eny prior mortgage or deed of trust, Lender mey accelerate the maturity of the secured debt and �__
<br /> demand immedlate payment end may Invoke the power of sele and any other remedfes permitted by applicabie Iaw. —�
<br /> � � 17.R�quat tor NoUc�of D�f�uit.It Is hereby requested that copfee of the noticea of defeult end eaie be sent to each person who Is a party �—
<br /> i I hereto,at the addrese of each euch person,as set forth herein. .sa::-
<br /> � 12.Pow�r of Sd�.If the Lender Invokes the power of saie,the Truetee shaii iirni�acord in thc cf!lao o!!he rgg4ste��f deeda of ench countY -=����_
<br /> whereln the truat property or some part or parcel thereof Is situated a notice of defauit contelning the infurmetfon required by lew.The Trustee __
<br /> ehall also mefl coples of the notice of defeult to the Borrower, to each peraon who is e party hereto, end to other pernons as prescribed by �� �
<br /> � eppliceble lew. Not leae than one month aRer the Trustee recorde the notice of default,or two months if the truat property ia not In eny _�� ��_
<br /> incorporeted city or villafle and is used in farming ope�etions carried on by the trustor,the Truatee shell pive publlc notice of sale to the peroona ��=�
<br /> and In the manner prescribed by appplicable law.Trustee,without demend on Borrower, shall sell the property at public auctton to the highaet �r
<br /> bidder. if required by the Farm flomestead Protection Act,Trustee shall offer the property in two separate sales ae required by spplicable lew. ��-
<br /> ,. 7ruetee may postpone sale of eii or any parcei of the property by publlc announcement at the time end place ot eny previously scheduled sale. ��,�__
<br /> 't Lender or its deaignee may purchase the property at any sale. �
<br /> Upon receipt of payment of the prlce bid,Trustee shali deliver to the purchaser Trustee's daed conveying tho property.The recislals contained fn ��
<br /> �- Truttee's deed ehell be prim�facie evidience of the truth ot the�tatementc containod therein.7ruatoo shall appSy the proceede of the eale In the
<br /> ��`•' f0II181S8L8 ent fee8','Ib)LO'811 BlIT6$66CU B(I by thl61deeduof�trustuand(cllthetbalance,eif any tlo t e peesons legelly enHtledl torecelve it,fees and
<br /> �` 13.For�closun.At Lender's option,this deed of trust mey bo foreclosed in the menner provide by appliceble lew for forocloaure of mortgages
<br /> �� on real property. '
<br /> �,,
<br />_ � � 14,Insp�ction.Lender mey enter the property to inspect it Ii Lender givoa Borrower notice baforehend.The notice must stete the reasonab e
<br /> + cauae for Lendar's Inspoction.
<br /> , g p g
<br /> � o fell�o�any pert of Bhe p operty�Snuch proceeda'willrbe eppi ed esYp�o ea d in co�e�e�ai eThis ass gnment Ist subjectdtom he�torme of any prior -
<br /> security agroement.
<br /> � 16.Weiver. BY oxercis+ng eny remedy available to Lender,Lender does not glve up any rights to later use any other remedy.By not exerclsfng � _
<br /> �� ; any remedy upon Borrowor's default,Londor does not waive eny right to later considor the event a default if it happens agaln. `��� _
<br /> • � 17.Jolnt and S�v�r�l LlaWlity; Co•tfqn�rr; Suoaetsors and Assigns Bound. All duties under th(e deed of truat ere joint and severai. Any �
<br />_ = � � Borrower who co-sfgns thie deed of truat but does not co-sign the underiying dobt instrument(s) does so only to grant and convey that
<br />_ , � Borrower's interest In the property to ttie Trustee under the terms of this deed of truet.In addition,such e Borrower agreea thet the Lender end �-���-
<br /> any other Borrower under this deed of trust may extend, modity or make any other changea fn the terms of thin deed of trust or the secured _
<br />_ :, { debt wrthout thet Borrower's consent and wfthout releasing thet Borrower from the terms of this deed ot truet. �„����._'
<br /> IThe duties and benefits of this deed of trust shall bind and bonefit tho succeasors end essigns of Londer and Borrower. y� ��(:,
<br /> ' 18.Nodc�.Unleae otherwiae roqufred by law,any notice to Borrower shall be given by delivering it or by mefiing ft by certified mafl eddressed to ���r,,�w,
<br /> '� Borrowor at the property address or any other address thet Borrower hes given to Lendor.Borrower w�ll pive any notice to Lendor by cartified ':�':, 'i���=''�'•
<br />� ' mail to Lender's address on pape 1 of this deed of trust,or to any other addross whfch Lender has designated.Any other notice to Londer shall j:,_, . �.�,
<br /> be sent to Londer's address as stated nn pege 1 of this deed of trust. . _ . ;�� ,
<br />- Any notice shall bv doomod to heve been gfven to Borrower or Londer whun given in the manner stated above. '�'���
<br />' � 19.Trenefer of ths Proporty or a Ben�flclal Interait in 4he Borrower.If all or any part of tho property or any interest in it is sold or transferred
<br /> without lender's prior wntton consent, Lender may demand immediate payment of the ttecured debt. Lender may elso demand immediate
<br />- i paymont if tho Borrower �s not a notural porson and a bencfic�al intnrest in the Barrowar is sold or transferred.However, Lender mey not
<br /> I demand poyment fn the abovo situations if ft is prahibited by fedoral inw as oi the date of this doed of trust.
<br /> � 20.Reconveyance.Whon the obligation aocurod by this doed of trust has boon peid, and Londer hos no furthor obligation to makv advancea
<br />� ( under the instrumonts or ogroements securod by this dead of truat, the Trusteo shall, upon written roquest by the Londer,reconvey the trust
<br /> • ' proparty.The Lendor shall delfver to the Borrower,or to Borrower's succossor in interost,tho trust deed and the rate or other evidenco of tho
<br /> � obligation so satisflod. Borrowor shall pay eny recordotion costs.
<br /> � �� cuac.annr Truetee. londor, at Londor's option, may remove Trustoe and appoint a successor trusteo by first, mnfling e copy of the
<br /> ..i....�.....�....e.....a:.,*ho nifir.a�t tha reaister 6f deeds
<br /> � substitution of trustee as requlrotl by appucan�e taw,and[nvn,uy iiii��y iY�o oi;bs:�::::.:.'...,....-,--.-. .-__._......_ -_-_-.__-.
<br />= succood to all the power,tduties6autho ity a d titlo oft ho Trust e named�itn tho deed of trust and of qny�succes or irust9g,of tho proporty,shall
<br /> Ipage 2 0/2l
<br /> HANKEIIS S�STEHS.iNG.SL CLOUD.MN 66301 11 900 J9743d11 FORtA OCN MiG�NE G 19Ni . ,_„ .__ ..
<br /> ' 1
<br />� I
<br />. ?
<br /> ___ _
<br />
|