|
, . . .. .... ,
<br /> . .J_ .., . . .
<br /> � . . ..1 . - . ., o, . _ ,. �a'�S��`:,��1_,_.
<br /> - . . . . ... .ti.-..w...�d::}y r�e V N� .. . ,,. .,aro-- -- - 1YJ-- -- _.
<br /> 'a>. -t�:3 �,�5- --s.
<br /> �y i:�r�� -y� ,a'�� . i '..�;��-P:�L� �.it..ailfi.i� "_ _.
<br /> . . , •.h' +�/9. y�,aa�. - ...�.�.�_ . -- _� -- -
<br /> ,.....��,.. .. .. .. -"__...r.... -,..-�.-..._�_.�.
<br /> .n a,;, pf . . _. . ..
<br />.._{i=�i/i.x.��i ... . ..
<br /> �::�:�� 98- 11� -
<br /> '�� COVENANYB
<br /> :�K�-�
<br /> 1, p�yr►»nt�, Dorrowe� apnt� to m�k� �11 paym�nt� on th� ��cur�d d�bt wh�n du�. Unl��• Barrower �nd lender �yree otherwi��, sny
<br /> ", _:_,� p�ym�nt� L�nd�r r�c�iv��Irom Borrow�r a tor Borrow�r'a b�nal�t wlll b��ppli�d Hnt to �ny�mounte Borrower owe� on ch� ��cured d�bt
<br /> •xclu�iv�of int�n�t or princlp�l,��cond to Int�rs�t,�nd th�n to principd.If pNti�l pnp�ym�nt o}th�ascund d�bt occur�for�ny n�son,it wi�
<br />::f��`.�y not nduc�or�xcw�any�cMdul�d pWm�nt untfl tM ucund d�bt b p�id In full.
<br /> '�`r'";�� 2,CINm�ApNn�t Tid�.Borrower wfll pny all tsxe�,as�eaemenu, end other cherge�attrihutable to the ropnrty whan dua and wdl defend tlUa
<br /> •i.
<br />,�:,;,..�.� to th�property�p�in�t ar�Y clRim�which would ImpNr the Iian of lhl�deed of trust.Lunder mny requlre orrownr to aenipn eny right6, clnime or
<br /> ��:�,;. def�na��whlch Borrower m�y h�vs�pdnat putl��who supp�y lebor or m�iul�l�to improve or malnteln tho propartY•
<br /> " a. Imunnc�.8orrower will keep tho property intured under termf eccept�bie to Lendu et Borrower'�expanse end for Lender'� benelit. All
<br />'.,.�� �,. Inwr�nc�po�icia�sh�ll Include a ctandord mortaape cleuse in levor of Lender. Le�der wdl be nemed as loss peyee or n�the Insured on eny such cr
<br /> In�uranc�po��cy.Any In�wanc�proc�ed�m�y b�� pli�d,within L�ndor's di�cretion,to Uther the re�tontion or repau ol tho damcpod praporty
<br /> -- ur to tM sscw�d d�bt.If L�nd�r nquin�matp�pa Pnnu�ncs,Borrow�r ap�e�s to m�intdn fuCh In�uranc�for�s (onp as Lender requlree.
<br />,._� 4,prop�rty,Borrowar will k�ap the prop�rty in poad conditlon and m�k��tl np�in reason�bly neceq�►Y.
<br /> "'���� 6,Ex1��i•Borrowsr eqreee to pay ell I.,ender's expense�,Ineludinq rea�on�bla �nor�ays'fee�,H Borrower breek�eny covenenn in thi�deed
<br /> • ot trust a In��Y obllQ�llon�ecured by thi�desd of truEt.Borrowsr will p�y thesa�mounts to Lender a�provided in Covenent 9 ot thi�deed of
<br /> ; •�� � trust.
<br />;-��,�,.,� : e. pda S�ky IMKat�.Unlei� Borrowar first obt�ins Lender'�written coMent,Borrower will not m�ke or permit any chenyet to�ny prior
<br /> �'-���• IncludiiYiy�Borrnwer i�covenants t m�ke paym nriQwh n�duep��fl�tion� und�r �ny prior mortpaps, dead of trust or other s�curity ■9n�men6
<br /> _�Xal'-N;,-
<br />_:,�LxY 7,A� of R�otr�nd Profit�. Barower assipns to Lend�r the rant��nd protits of the property.Unleu Borrower end Lender have�ar�ed
<br /> ;�,4� otMrw�e In writinq. �ud rec�{vir miiy t�kepo�se��an and m,n�ps9tM p�op�rtyrandncollect the�ent BAny rents�lsnder col ect��hall M
<br />-A_'".'��`� �p�nt,or a court�ppo
<br /> �ppli�d tirst to th� costs of msn�pinp the property, Inciudinq court cost� and ottor��eys' (ae�, commiscion� io rental ayents, �nd �ny ot r
<br />-�'"-",'"''� nsce:t�ry nlated sxpensea.Th�rematnlnfl�mount af ronU will thm�pp1Y to payment�on the secured debt�s provided in Covenant 1.
<br />-`°�`�;�� 8.lsu�tiddr Condominfums;Pl�d Udt Dw�io(xr►�nU.Borrower apree�to aampIy with the proviaiona of eny le�se if thi�deed af trust is on
<br />- � ����' �Iea�ehoSd.If thts dud of trwt i�on� unit in�condominium or�plenne�u�it devetopmont, Borrower will perform�II of Borrower's dutiec
<br />'r°�''�"��� under tM covenants,byI�ws,or reflulatloni of tha condominium or pl�nned unit dwelopment.
<br /> -=�.�.i:�:i
<br /> ' „� g, quYhaity of L�nd�r to P�tform ta BorrowK.If Borrower faili to{+erform eny of Borrower's dutiec under this deed of truct, Len er mey r
<br />_-.�,�'� perform the dutiea or cause them to be performed. Lender m�y sipn Rorraw�r'c n�me or pay my amount if neawwy tw performance. If�ny
<br /> -_� -- iecurit�y In�tiris In t F w Pr�oP�rtyaThls may Mctud�com p lNinp tt»consttuctbnm���r,Lender mny do whatever i�necewry to protect Lende's
<br /> '-��.��
<br /> o -__ L�nd�r'�f�flun to perfam wfll rat pr�clud�Landu from�xerd�inp�nV of its other ri�ht�under tM I�w or tNe deed of trust.
<br />-�"'��� Any�mounts F�Id by Lerx7ur to protect Lendsr'a�ecurity Interest will be secured by this deed o}tru:t. Such amounts wfll b�due on demmd
<br /> �r►d will b�w intenst itom tha dat�of tlw p+Yment until pald in(ull�t the int�nst nte in eff�ct on tM t�cund debt.
<br /> --�L..��
<br /> _ar��a_ ��. p�yuk�nt1/�eo��tlon, If Borrow�r hila to meke �ny paYment when dw or breaka any covenant� undx this deed o trutt or my
<br /> oWbatbn acund by thia deed of trust or��y prior mortpaQe or dasd o}trust,Lsnde� m�y accal�rats tM m�turity of the sacured debt md
<br />,_-�� dem�nd immadi�ts p�Yment�nd may Invok�th�powar of qle�nd eny othe►remedies p�rmitted by sppllcabk law,
<br /> -===? _�,e_�...ty��,.w,.�f n.i.ult. It Ic huebv requetted that coples of the notices of defeult and sale be tent to each peno�who b s p�rty
<br /> -- - .�s.._•
<br />-_ heroto,�t thu addross of each wch pMSOn,u pt torth herein.
<br /> = 72.Pow�►of SW.If tM LorxNr�nvroMt«parce'�iM�ea}Is��itwt d�tnoticelof�defauR ont n�In p�tfhe Inia atia�requusd b�law.Tti TrutiR
<br /> ---- - whenln tM tru�t propsrty
<br /> chall Nso m�il tople�ot the notic� ol defn�lt to tM Borrowar,to e�ch penon who It a paKy hento, and tv othsr persooa n p�etcrlbad by
<br /> �"�' �pplicabN Irw. Not kss th�n ons month�kar the Tru�t�e records ths notloe of detQUk,a two month�if the tru�t propsrty ia not fn MY
<br /> � incorporatW city a villap���d is used in fNminp opsr�tans curi�d on by ths tru�tor,the Trust��shaN piv�pu blie notice of s�k to tM penonr
<br />-'°=`'"`—=� arxl I�tM mennN {x�scnbsd by ap�plicabN�aw•T���tee,witMut dem�nd on Borrow�r, �holl s�ll tM{xop�rt�l�t public auction to tM hiyh��t
<br /> -- �'� bWt1M.If rpuKSd by tha Fum Homat�sd Proteetion ACt.Trust�e�bl e anf�oun,ment at thettime�pnd p��ce ol�nyrpQov uely scl edulsd ah.
<br /> --— Trustro m�y postpone��k of all or�ny pxce)of tM p►operty by pu
<br /> a���� Lend�r w its d�tktnsa may purchase ths propsrty�t�ny ul�.
<br /> Upon rec��pt ot p�yme nt of the prlcs Wd,Trustee�hal!deliver to the purchatx Truste�'s deed convaylnp tM propertY.The recitl�Is cont�irnd i�
<br /> � Truttse'a deed�h�ll be prim�f�ci�evldiena of ths truth of tM at�t�ment�cont�lned therain.Trustee shall�pply tM procaeds af the uIe In ths
<br /> ___�� folbwiny ader. U) to d� expansei of the s�le, includinq. but not timited to, ro�con�ble Truatse's f�e�. nnon�ble �ttornay's tses md
<br /> reinst�tsrrNnt fues;(b)to all�ums aecursd by this d�ed ef trust,�nd(c)tM balance,if�ny,to the persone kpsNY��titled to receive it.
<br /> m _� 13,��K�,qt UrxNr's optlon,this deed ot trutt msy be foracbssd In the ma�rw�provid�by�pplic�bl� law tor farscbsuro of mortpp�s
<br /> __ on n�propKty.
<br /> -- 14.Imp�ctlon•Lender mey enter the property to inapect it if Lender piv�s Borrower notice beforehand.The notice must etate the reasaMble
<br /> —� cauts fa Lender's fntpectlon.
<br /> �`� �6,�yp�.Borrower eas ns to Lender ttwp�oceeds of eny�w�rd or cleim for dsmages connected with e condemnation or other t�klny
<br /> -- = of NI a any p�►t of the propsrty.�uch pcoceeds will be�pplied�s povided tn Covenmt 1.Thia atsfynm�nt Is wbJact ta the terms of any prtor
<br /> -_���j seaxity aprs�rn�nt.
<br /> � �"�� 16,W�iyK. By�xorcisinp any remedy avNlable tu Lender,Lander does not pive up�ny rightt to latsr uae any other remedy.BY not sxercisiny
<br />-�� a�y remedy upon Borrower's def�ult,Lender do�s not waive any riyht to latar consider the evsnt�del�ult if it 1�ippe�s sqain.
<br /> Y'�"��-�r 8ouod. All duties under thts deed of uu�t are �uint �nd aeveral.Any
<br /> = 77. Joi�t�nd S�vKalUab�t1( Co-�tynar Succasa� �nd A��tyn�
<br /> — -' Borrower who co•slyns this deed of trust Iwt does not co-slpn the undsrlyirq d�ht instrumantla) doei so on1Y to pr�nt �nd convey that
<br />,_=,ti.y-_�g� Borrow�r's int�nst in the property to the Trustee und�r tFw terms of thit d��d of trwt.In�ddition,euch�&e�row�r ay►��s that the L�nd�r ind
<br /> ,�T��;� eny other Borrovrar under this d�ed of Vust may e�ct�nd, modify or maks�ny other chaoges in tM tHms ot tNc d��d of trust or the secur�d
<br /> - - debt without tAat Borrower's consent and without raleacirp that Borrowu irom ths tums of thls d�ed of trust_
<br />__7'y;:'�!>•;�` , Ths dutbs end benafits of thls dee�of trust sh�ll bind�nd benetit thx sucGessors snd�sslyna oi Lender and Eiorrower.
<br />''�,�_���_:� 16.Notk�.Unlasa otherwise required by law,any notice to Barrower sh�ll be piven by deliverinp it or by meili nq It by certified mafl�ddressed to
<br /> Borrowar�t tM property address or�nY,other�ddress that Borrowar h�s piven to Lender. Borrower will pfva�ny notice to Lender Dy certlfiad
<br /> � mail to lender's addrass on p�qe 7 af tivs deed of trust,or to�ny other sdeket�whkh Lender has dasip��ted.Any other natice to Lendar ehall
<br /> ° be aent to Lender'��d+lnss as stated on paye 1 of this deed of trust
<br /> Any rwtice sh�ll be deemed to Ihave bean piven to Borrower or Lende�when piven in the msnner ststad above_
<br /> �t 19.Tran�i�r of tM PropKty ur�d�1�d�M+�K��t�^�6°noww. M�11 or anV pxt of tM prop�rty or�ny interost in it is cold or tnn:tHred
<br /> �•. without Land�r's prlor writtan consent,Lender m�y demand immediate payment of the seeured debt.Lander may elso dems�d Imm�d��te
<br /> paym�nt if the Burtower is not a nsturel person�nd � beneffcial interest ir�the Borrower is aold or tnnstared.However, Lerxkr m�y not
<br /> dem�nd payrrMnt In the above situatione it it is proh�bited by federal law�s of the d�te of thia deed ot trust.
<br /> ; 20.R�co�v�y�ne�.When the obligation socured by this dead of trust has been paid, and lander has no furthar obligation to make advances
<br /> : 4 under tM instrumenis o�agreemonts secured by this deed of trust, the Trustee sha11, upon written request by the Lender, reconvey the trust
<br /> ( p:operty.The Lender shall deliver to ihe Borrower,or to Borrower's successor in interest, the trust deed and the note or other evidence ol tl;a
<br /> •''•' �i abligation so satisfied.Dorrower shall pay any recordat�on costs.
<br /> _-__-_ _ --
<br /> „ i I 27. Suec�ssa Truste�. Lender, at lender's optlon, may remove Trustee and appoint a successor iruscee oy iirsc, maiiiny e t�Nr �� :�.�
<br /> � substitution of tWSM��s rtqu�tod by apD��cable law, end the��,by filin�the substRution ot trustee for record in the oHice of the register ot deeds
<br /> succ od t uatl i e powe.d�utiess author ty and title of the Trust e namedat�edhe deed of hust and of eny�eucce sor trustee,at the property,st�all
<br /> , I
<br /> �
<br /> � lp�pt 1 of 11
<br /> . I BANNERS S�STEMS.INC.5T CLOUO.MN 56701 tl s00•]97•2]�11 FOHM OCP MTGNE 6�19�31 ___.__ __,
<br /> �[I
<br /> +I
<br /> � I
<br /> �
<br /> I .... - .....
<br />
|