|
,�,,�
<br /> ''��+ � %--
<br /> �-�r�hjY . � ' _ .
<br /> r,-�►
<br /> ' _ +id.�kfi�Y�.tr%,_.te,... • �, � .. � � . ..........._J•�_ ..--_-..
<br /> l� _ � _�_ _
<br /> ; COVENANTS + �10�w�T -;
<br /> I er e ree� to make eli aymente an the necured debt�Wlod fhet to any emou te 8o�rowe�owEa on thettscured debt • `°•::��:
<br /> t 1. Paym�nt�. Borrow 0 " -
<br /> peymente Lender rnceivee f�am Borrower or or Borrower's Danefit will be PP re e mont ot the eecured dobt occura for any reason,It wlil .
<br /> not�reduce or�excuie eny�echeduted peymetlt untilihe�i c red debt Is�pald tn fullDl R p y � ••�Y'�
<br /> � , � when due and wlll defend title � - ..,
<br /> 2.Cl�imt Apdnst THI�.Bortower wlll pey a�l taxe�,tasetements, and other cherpen attrlbutehie to the property
<br /> to the prope h��orrower msy have ppa n�pedrtieipwho eupply lebor oa mnterials to impaove oa malntarin Bherpropertyp�6lgn eny rlahts,claims or � "
<br /> � defenes�whlc l -°�"
<br /> 3. Insunna�.Borrower wiil keep the property inaured under terms acceptable to Lender et Barrower's ezpense end for Lender's benefit. �
<br /> ��re;--
<br /> �Y-.
<br /> insurence policles shell Include e standerd mortgogU pllod�with�n Lendeis diacretlonr.t Ilother he�restoratlonao�ropal s Len�dera qufre a�P rty —
<br /> � Inauronce pollny.Any fnaurence proceeds may b p y,J
<br /> ? or to the securod debt.If Lender►equlreo mortpage Insurance,Borrower aflreee to memtein such insuranco tor ns Ionp
<br /> k ''4 ..�
<br /> P
<br /> ,.,,,.,;r� 4,prop�rty,Borrower will keep the property�n good condition end make eli repalrs reseonebly neceexary. 4`_`__
<br /> � 6.Exp�na�s.Borrower egreea to pay ai)Lender's expenees,Ineluding reasonable attorneys'fees,If Borrower breeks any covenante fn thie deed �_
<br /> of truat or In eny oblipatlon eecured by this deed of truat.Borrowor will pay theee amounte to Lender as provfded In Covenent 9 of thla deed of .•`r:
<br /> tfU6L. •'--��:
<br /> 9 rior mortgege, deed of trust or other security agreement, __�
<br /> 6.Prior S�curity Intareet�.Unlese 8orrower first obtelns Lender's written consent,Borrower will not rnake or permit any chenpes to any pr or _ _
<br /> eocurity interests. Borrower wlli perf�rm aA ot Borrower's obll ations under eny p •_
<br /> Includfng Borrower's covenanta to make paymante when due. -
<br /> _:'}_
<br /> 7,pst►ynmmt of R��ts�nd Proflts.Borrower asaigns to Lender the rents and profits of the property.Unless Borrower and Lender have agreed
<br /> � otherwise fn writing, ointed ecA ver m�aeyCt kedposseesion end managegthe prorper�tlrrend�collect the�entsB AnyµrontoeLender collects shell be + _
<br /> egent,or a court app g g • -
<br /> . app l ie d f i r s t leted ex ensea f The reme lning e ount o t r�en ts w f l l t h e n a p p l y t o p e y m e n ts on tlfie secured debtas provided ingCovenantd'any other � ��`�
<br /> necaesery re P p -
<br /> ' e leesehotdalf hleddead�of tfust�e on e�u��n a�condomf num or�e pQenned un t deve ol pmtent PBorrovr•er wili perfurm�ellhof Bonower'a dutlen _
<br /> under the covenants,bylawe,or regulations of the condominium or planned unk dovelopment. _,
<br /> 9. Authuhe dutles o�cause tham to be pedormedf BenderVmeyielgn�Borrower's�nameBorr�psy eny amount if neceesery forperformence�lf sny _
<br /> perform t
<br /> conatruction on the property is discontinued or not carried on in a reasonable menner,Lendar may do whetever is noceasary ta protect LendeYs '"` �T-
<br /> • security interest��the property.Thla may Inciude completing the conatruction. .
<br /> { '� Lender's feflure to perfurm will not preclude Lender from exerclsing any of ita ather rights under the lew or thts deed of trust. ���—
<br /> � 1 AnV amounts pald by Lender to protect Lender'e security interest will be aecured by this daed of truot.Such emuunts will be due on demand
<br /> -i*F.--
<br /> ' '!� and will beer intereet from the date of the peyment until pald In full at the interest rate in effect on the secured debt.
<br /> ��I edon��secured by this deedfo8truetVOr any Pr mm rtgegepor deed ofhtrustuLenderrmey accelerat nthesmu�tu8ityhof the securerd debt and
<br /> ob g .
<br /> ', demand Immedlete paYment end mey fnvoke the power ot saie and eny other remedies permitted by epplicebie Iaw.
<br /> 11, p�qu��t tor Notia�of D�hult.It ie hereby requested that copfes of the notices of default and sale he sent to each person who Is a party
<br /> - ' hereto,at tne addroea:.t&ach such pefsnn;»s net forth herein. �
<br /> 12.Pow�r of S�I�.If the Lender invokee tho power of sele,the Truatee shall first record in theRereto oend t otheetper ona es preacrfbed by �_
<br /> ahaeielaohmail copias of the not e a dafeu�it to therBorrower,et ea h persondwho�laca pe�rty the informetion required by lew.The Truatee E:-�
<br /> appllcehla lew. Not less than one month efter the Trustee records the notice of default or two months if the trust property la not in any c
<br /> Iicable law. Trustee,without demand on Borrower, shall sell the property at public euction to the highest
<br /> Incorporated city or villege end la used in tarminp o eretions cerrled on by the trustor,the frustee ahall give public notice of sele to'h abte lew. __
<br /> end In the manner prescrfbed by eppp
<br /> bidder. If requlred by tho Farm Homestead Protectfon Act,Trustee ubllc announcemrent at the tfine end place�of anyrpQevlously scheduled seie. �
<br /> Truatee mey poetpone saie of all or any parcel of et an r oalarty by p -----
<br /> ir. Lender or Its desfgnee mey purchase the p�operty Y �
<br /> �• P y h I the praceads of the eale In the ��:r
<br /> Tpustee setleedfsheall be prmehfaciece dien e of thehtrluth�off the stut mernt econt ilied thereentlTrusteeis 8U ePpry erry.The reGtlals contained n ��
<br /> ' relnaWeteme t feese�lb)to lell ume6Becu ed by this�deeduofitrustuand Iclithetbalence elf eny bto t e pereons/egally enHt ed to receive�i,fees end
<br /> 4. -°�---
<br /> �� 13.For�elosun.At Lender's option,thfe deed of trust may be foreclosed in the manner provide by appllcable Iaw for foreclasure of mortgages — —
<br /> t.• on real property.
<br /> ''• 10..Insp�odon.Lender mey enter the proporty to inspoct it if Lender gives Borrower notice beforehand.The notice muat state the reasona e
<br /> cauae far Lendar's inepectlon. r
<br /> � 15.Cond�m�aUon.Borrower essigns to Lender tho proceeds of eny awaid or claim for damages connected with a condemnatlon or other takinp '-_
<br /> � of ell or eny pert of tha propertY•Such procoede will be epplled as provided in Covenent i.This assignment ia subjeCt to the terms of eny prfor P
<br /> security agreement.
<br /> � �g.W�fv�r. BV oxercising eny remady available to Lender,Lender does not give up eny rights to leter use any other remedy.BY�ot exercising --
<br /> any remedy upon Borrower's default,Lender does not waive any right to later conaider the event a dofuult it it heppens agein. _
<br /> 17, Jolnt ��d S�v�r�l LI�WIity; Co•si�mr�: 6ucan�on end Assigns Bound. All duties under this deed oi truat ere�oint end several. A�y
<br /> � ' Borrowor who co-si0ns this deed of trust but does not co•sign the underlying debt instrument(s) does so only to prant and convey that �J
<br /> Borrower's Interest in the property to the Ttustee under the terms of this deed of trust.In addition,such a Borrower agrees that the Lender and � �4 '—
<br /> debt without thet Borrodwertsiconsent and without eeleasing t at�orroweeirom the terms�ofethis deed of trust,thle daed of truet or the secured �-�`--
<br /> �.; �_:,.--
<br /> Tho duties end benetits of thin deed of trust shatl bind and bonefit the succesaors and essigns ot Lender end Borrowor. ,���g=
<br /> 18.Notic�.Unless otherwise required by law,any notice to Borrower shell bo given by delivering it or by mailing it by certified mafl eddreasod to '�=r
<br /> Borrower at the property eJdress or any other address thet Borrower hae given to Lender,Borrowet will 9ive any notfce to Lender by certifietf ' `.�_=
<br /> mail to Londor'o eddrese on pege 1 of this deed of trust,or to any other addresa which Lender has designated. Any other notice to Lender shelt ,.�+�:,_
<br /> bo sent to Lendsr'c addross as stated on page 1 of this deed of trust� -.•.+.,�•,,
<br /> Any notico shall be deemed to have beon gfvon to Borrower or Londer when gfven fn the mnnnar stated ebove.
<br /> 19.Tnnsfsr of th�Prop�rty or� e�n�flelal Int�nit in th�Borrow�r. If all or any part of the propert or any interest In ft is soid or transferrod
<br /> wit ment if�hor[iorru ver rist notCannaturat porson andde benaticlal�ntereapen�the Barrowere�u oad�ob tra sfee ed.HHowevere Lenderm ay Inot
<br /> pey Rk
<br /> demand paymont fn tho ebove aituationa if it fo prohi6itod by fedorol law os of tho doto of thie deed of trust.
<br /> Qp,R�conveyenc�. ghor^egheemofntsisocuredrbythishde deof trust,�the Trus�oe shall,upan wrdittenroquestrbhethobLender,recon ey theatrust F
<br /> i under thu instrumont �
<br /> property.The Londer shall dolfvor to the Borrower,or to Borrowor's succossor in interest,the trust deed and t e note or other ovfdenco of the
<br /> obligetion so satisfied.Borrowar shell pev any rocordation costs.
<br /> - � .._.. ____.._ r...e,00 nnr� nnoofnt a successor truatee by first, mailing_a.copy�of�t�e
<br /> 21. Sucoestor Tru�Ue. Londer, at Lonaer o oPuon, ���a ti��•�• �•----- ' '___
<br /> substitution of trustoa us roquired by applicablo law,end t�en,by filing the substitution of trusteo tor racora m�no ori�cn v����o��
<br /> succoed touall tho power tdutiesF nuihoety and titlo oft ho Trust o num�adeln tho daed of t ust ar d of eny isuccessor trust e.of tho propetty,shall
<br /> lpege 2 0/21
<br />� BANKERS SVSTFMS.ING.ST CLOUD.MN 6G30�11 800 79743411�UPM OCP M�6 NE 0�19�91 . - -•—�- i
<br />. i I
<br /> I
<br /> .
<br /> .� •_._._. ... _ . ._. . . . ._
<br />
|