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<br /> covcrone�qa ti��.� � � F=�w� ���.�.-:
<br /> � ��D�a�:::�'
<br /> 9. Pay��:�tito, Oorrnr�cr c¢rc�^_ to rr!:� cll•G-/m�:�t� oc�tti� ooturod dob4 vilion duo. Unto�a Dorrowcr nnd Londcr aproo o hor�vico, ony ,
<br /> pnymonts Londor rocolves frgm Sorrower,er iqr 8ofrawer+8 bonofit wlll bo nppllod tir�t to aroy omounto Qarrawor owon on tho oocurod dobt �. •-
<br /> oxcluslvo of Interos4 or principal,wcond tQ lntefcotr�nQt�n to pilncipnl.If purtlol propuymont of tho aowrod dabt occuro}or uny roncon.It wlll
<br /> not reduce or excuae ony ocheduled p�ymdt�t Ufitll�tha�secund dobt le paid In fuil.
<br /> ��". 3.Ct�lms Apsl�tt YIU�.Borrowar vufll poy al1 toxee,aeansamente,ond othor chargoa ottributablo to tho propsrty whon duo end will dofond title -.
<br /> to the property eA alnot any cloima whicl�would Impalr tho Ilon of thlo dood o}trunt.Londor mny roqulro Borrowa�to aaolpn nny rlphto,ctelms or �� __
<br /> defemes wNch Bnrrower mey heve epalnat partlea wha supply lebor or materloie to Improva or meintaln tho propartV.
<br /> , 3.Ineurenr.e. F3arrowor will koop the propnrty Incurnd undcr torme acCOptabto tu Londor ot 6orrowor'a oxponso ond(ot Londor'a bonofit. All _ --_
<br /> innurnnco policie9 chnll Include a atAndard mortpnge clausa in favor ot Londer.I.onder wiil bo nnmoJ ae losy payoe or es the Inaured on t+ny such . ,o
<br /> insurance poliay.Any Inaurence proceede mey be epplied, withln Lendor'e dlecretfon,to alther the rostoration or repalr of the demafled pruperty • —
<br /> " or to tha aecurad debt.If Londer requlroe mortpapa Inaurence,Borrowar aprnes to mointaln such Ineuranco for oa lanp as Londc+r requirea. . t-,x��w
<br /> 4.Prop�rty.Dorrowor will keep the properry In pood condition ond make oll repaire roasonnbly�ecossary. �`�-'�F
<br /> � 6.Exp�na��.Borrower eprese to pay all Lendor's exponsea,Includinp roasonabto ottomoya'foos,If Borrow6r 6roaks eny covonante In thls duod �'
<br /> ' of trust or in any obUpatlon sacured by thlA doed of truet. 8orrowor will poy thoso omounte to londor na ptovidod In Covanant 9 of this daed of � ��
<br /> truat.
<br /> .�-
<br /> 8.�la S�curitv Intu�st�.Unlesa Borrower flrs4 obYaine Lendor's written consant, Barrowor wlll not m�k�or pormit ony chonqoe to any prlor "'�;;,
<br /> eacudty interoste. Bonower will perform all oi Borrower's oblipations undor any prlor monpage, daod of trust or other socunty aproemont, ,-
<br /> ,� inctuding Borrower's covonnnte to moka payments whon duo. ��
<br /> ��� :
<br /> 7.Aafi�nm�nt of R�nU�nd Profits.Borrowor assipns to Londor tho rants and profita of the proporty.Unloae Borrowor and Londor havo upreod �. "
<br /> otherwtse In writin�, Borrowor moy colloct and rotnin tha rente as lonp as Borrower is not in default.If Borrowor dofnults, Landor,Londor's ,.
<br /> ogent,or e court eppointed rocofvar may tako poesoaslon nnd monogo the propsrty and collect the ronts.Any ronte I.endnr collncte sholl bo Q�#
<br /> applied ifret to the coste of mannQin ihe property, Includ;na court coste end attornoys' tooe, commissiona to rentei ngonto,and eny other ,�„
<br /> nocossery rolatod oxpensea.Tho ramaQning umount of ronte wlll then apply to paymonts on the secured debt ea provided in Covonent 1. ,.
<br /> 8.L��i�hdds• Condomtniums;Fi�nnad Unit Osvelopmant�.Borrower ayrees to comply with the provi�lons of any laasa tf thfa daod of tru�t i�on f �• � �� �
<br /> n loaeohotd.I�this deod of truet is on e unit In e condominlum or o plannod unit dovolopmont,Borrower will portorm all of Borrowor's dutlos ••
<br /> under tho covonente,by-lewa,or re�utations of the condomintum or plannnd unit davolopmont. ` "�""���=-�
<br /> 3.Auth�rity of lmd�r to Perfarm for�orrowsr. It Borrower fails to porform any ot Borrawer's dutles undor this doad of trust, Londor moy �'� ��_
<br /> portorm the dutfes or causo thom to bo porformed. Landor may sipn Borrower's namo or pny nny amount if nacossnry for porformnnco. If any --
<br /> construct�on on tho property la diacontinuod or not cerried on in o roasonoblo manner,Londer may do whatover ia nocossary to protect Landar's �
<br /> socurity intorost in tha proporty.Thio may Inciude complotinp the construction. �lr--�
<br /> � � Londer's tallura to psrform wiil not proclude Lender irom exarcising eny of fts other righte under tho law or this deed of trust. " . �j�
<br /> ➢0�-_::-
<br /> Any emounte pald by Lender to protect Londor's security intorest will be socured by this dood of truet.Such amounte will be due on domand * � °""'_"
<br /> � and will bear interest from the dtfto oi tho paymont untll paid In full ut the intorost rete In effect on tho securad debt. 'a,�.
<br /> 10. Dstauit and AccNareUon. If Borrower fuiis to make uny payment when due or breaks any covanants under thle deed of truat or nny
<br /> obflpetion securod by this deed of trust or nny prfor mortpege or deed of trust, Londer may accelorato 2he maturity of tho aecured dobt and +��
<br /> demand Immadinte paymont and may Invoko tho power of eale and nny othor remodies permittod by applic�ble Inw. ��•;`.
<br /> - _--��'-�--- --
<br /> 11. R�qu�tt to�NOtict of O�tault.It IB hortlby roquostotl that cop�ea oi the noticea ot tieiauic end saio 0o sont to vacn parson wno ia n Na�iy � -- y•=
<br /> hereto,ot the address of each such peraon,as set forth horein.
<br /> ��2�'t
<br /> 12. Pow�r of SY�. It the Lendor invokas the power of sato,tha Truatoo shall first rocord in the office of the registar of deeda of oach county I .'�',., ��
<br /> , � whflroin the trust prapurty ar some pnrt or parcel thereof is situatod a notico of dnfnult cantelning tho information required by law.Tho Trustoe ,;:. ::,
<br /> shall also mail coplas of the notico of dofault to the 8or►ower, to each porson who Is a perty horoto,and to other persone as proscribed by ���
<br /> • appfioaAlo law. Nat less than ono month after tho Trustno recorde the notice of default, or two rnontha it tho trust properry is not In nny � "�•� K
<br /> incorporatad city or villapo and Is usod in fnrming operetiona carried on by tho trustor,the Trustes shall plvo pu611c notice of sale to tho persons �� %!��
<br /> and in tha menner prescribod by eppplicablo law.Truatee,without demand on Borrowor, shall soll tha propeny at publlc auction to the highost rit ,
<br /> �" bidder.If required by the Farm Homostead Protectlon Act,Trustoo shali offer tho propnrty In two separata ealos as requlrod by applicablo Inw. ' �
<br /> Trustee may poatpone saie of all or eny parcol of the property hy pubiir,announcemont at the timo nnd pluco of any previot+sly echeduled sele. � .�
<br /> 4onzlor o►ite desipnee may purchar3e the property nt any colo. -�.��•
<br /> Upon rocelpt of payment of the prico bid,Trustoe sheil deNvor to the purchaser Trustee's doed conveylnp the property.The racitials contained in ' �ia
<br /> " Trusteo's deed shall be prime fuclo evfdioncu of the truth of tho statements contalned therein,Trusteo shall eppty the procoods ot the eala in tha �. i
<br /> tollowinp orda�: (a) to nll expensos of tha snlo, includinp, but not Iimited to, raasonablo Tniateo's feas, reasonebie attornoy's feas and „
<br /> rolnstatoment faos; (b)to all sums socurud by this deod of trust,and lcl tho balnnco,if eny,to tho porsons Iopaiiy ontitlnd to rocolvo it. � � ,
<br /> 13. Fonclotu►�.At Londer'e option,thia deed of trust may bo foreclosad in the munnor provido by applicable law for forocloauro of martgagoa � '
<br /> on raal proporty. I ��y''`':�•-�
<br /> 14. In�p�cdon.Londor mey onter tho proporty to inspect it tf Lander flivos Borrowor notico beforohnnd. Tho notico muet stato the reasoneble ��� r
<br /> cause for t.ander's inspoction. � •
<br /> �
<br /> „ 16.Cand�mnatlon. Botrov�er ossigna to Londer tho�rocoods of any ownrd or cinim for damapoa connectod with a condomnutivn or other tekinp i �;- •
<br /> • of all or eny pnrt of tho proporty.Such procoads wf 1 bo applfod as providod in Covonant 1.Thi9 assignmont is sub�ect to thu torma of eny prior /�'k,, "
<br /> security eproomant. I /1 •��
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<br /> ' 18. Wa(vat.By oxnrclsinp ony romody ovuiloblo to Londor,Londer doas not give up any rights to leter use eny othor remady. By not oxercising � r' -�
<br /> eny romedy upon Borrower's default,Lendor does not wnivo nny right to lator consfdar the evont a detault if it happens agnin. ! •_:
<br /> � ��
<br /> 17. Jdnt md S�vtrel Llabt7itv Caaignere: Succtssors and Aealgna Bound. All dutios undar this dood of trust uro jo�nt ond sevoral. Any : �`�
<br /> • Borrower who co•signs this duod of trusi but dooa not co-sign tho undorlying dabt instrurnoM(s) does so only to flrant and convey that �' � •d�:
<br />- Borrowor'e Intorost(n tho pruperty to tho Trustoo undor the torms of this doed ot trust.In addition,sueh a Borrowor ugroos thnt tho Londor and „'
<br /> any other Borrower undar this dood ot trust moy oxtond, modify or mnko nny othor chnngee in tho torms of thfs doud of trust or tho secured "•
<br /> dabt without that Borrowor's consant and without roteesing that Borrowor irom tho torms of this doed of trust.
<br />- Tho dutios end bonoflto of this deod ot trust sholl bind und bonofit tho succossors nnd assigns ol Londar and Borrowar.
<br /> 18.NoUc�.Unloss othnrwiso roquirod by Inw,tfny notico to Borrowor shall bo givon by dolivorf�g it or by mailing it by cortifiod mail nddrossod to �
<br /> Borrownr at iho proporty addrass or nny othor addruse that Borrowor hag pivon to Lander.Bo�rowor wdl givo pny notico to Londor 6y cortifiod
<br /> mail to Lender's addresa on pape 1 uf this daod of trust,or to any othor eadrose which Landur hns dusignatud. Any othor nctico to Londor shall
<br /> bo sant to Londor's eddross as statod on pago 1 of thia doad ot trust. "
<br /> � Any notice nhall bo daemod to hove bonn pivon to Rorrowar or Londor whun givon in tho munnar etotad nbovo. • '
<br /> 19. Tranat�r of tha Frop�rty or�8�nsflcid Int�rstt in th�Borrow�r.I}oll or any pert of tha proporty or any intorast in it is sold or transforrod , "
<br /> � without Landor's prior writton consont. Londor mny domnnd Immediata paymont of the securod debt. Lender may also domnnd immodiato •I
<br /> - payment if tho Borrowor is not o natural parson und o bonoticiat Intarost in tho Borrowor is sold or transforrod. Howovor, Londor moy not ,
<br /> domand paymont In tno obovo situations if it is prohibitod by fodornl low as of tho dato of this doad of trust. �� �;
<br /> Z0. R�conv�yanc�. Whon tho oblipation sucurad by thls doed of trust has been paid,and Lendor has no furthnr oblfgotion to mnka advancos , ='�
<br /> undor tho Inst►umonts or apruoments socutod by thls doctd of Yrust, tho Trustoo shall,upon writton roquost by tho Landar, raconvuy tho trust � i
<br /> -?- nrnusrtv_ Thn Lnndnr sh�ll dulivor to tho Borrower,or to Borrowor's succossor In intorost,tho trust dood and tho noto or othor ovidonco of tho ,
<br /> ` ` o6ligatlon ao Futiatiod.Borrowor shnll pay any rocordation costs. , �
<br /> � 21. 5ucceasor Truatee. Londor, oY Londor's o�tion, moy romovo Trustao ond appoint o suceassor trustuo by first, mniling a copy of the �
<br /> �j substitution of trustou ns roquirud by applicablo aw,and thon,by tilin�tho substitution of trustoo for rocord in tho oNicu of tho rogistor of dauds
<br /> o}oach county in which tho hust Froporty. or somo part thoroot,is s tuotod. 7ho s�ccossor trustoo, withaut ccnvoyanco ot tho proporty, shall �
<br /> „ sucaaod to ail tho powor,dutios.authority nnd titlo of tho Tn�steo nomod in tho dood ot trust arxl of ony suctossor trustoo. �I!
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<br /> �` � .. Ipage?of 7)
<br /> � L. „ MNKEAS 5V97FMS.INC..S7.CLOVD.MN Gd]Ot It�BOOJ97d��11 FO�M OCRMT6NE 0�19/91 , ��
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