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<br /> 1. Paymrnta. 6orrowcr aprooa to mplro all puymonta on Iho nocurr,d dobt whon duo. Unl000 Barrowar ond l.ondor aproo oth rwl^o, any
<br /> ' peymonte Lendor rocolves(rom Borro�var or fo�r�(30turawA�:abun�fu•wlli�b�+p ptiud 11rot to nny omountu Borrowor owon on t1io oocurod dobt � •. b• �..
<br /> � - not�reduce or excuie eny�schaduled Vayniant lniff'liioMca���j���tt4f�Tuljal propnymant of tho oocurqd dubt occuro tor any ronnon,It will � l
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<br /> � 2. CIAim�Apein�t Tit�e.Darrowor will poy eil toRoa;gieee�niAnte,�'dA�dt��r chprpe�attrmutnbla to tho p�oporty whon duo und wlll dafend titlo
<br /> • to the propertv epalnot�ny clelm�whlch would Impalr tha Ilen o}thle doed of truet.Londcr may roqulro Borrowor to naelfln eny rlphte,clolmo or
<br /> ., detense�which 0orrower mey heve epeinet partio�who�uppib Iabor or meterlel�to fmprove or mainteln tha property.
<br /> 3. In;uuaaa. Dorrov�ui will kacp ttis prop�rty Incurcd undcr tcrma ncceptnhle to Lendar et Borrowor's oxponsa ond for Londor's bonofit. All • �.� .
<br /> Insurenae pollciel ehall Include e etanderd mort0epe clau�e In fevor o}Londer.Lender will be nemed oe Iose payoo or ee the Inaurod on nny such . y
<br /> Inaurence polloy.Any Innurance proceede mey he e�plled, withln Lendor'a diacretlon.to elther the re�toretlon or repalr o}tha damaped proporty
<br /> or to the recured debt,If Lendor requlraa mortflepe neurenca.Borrowor apreoa to matnteln such Inaurence for oe lonp ae Londor roqulroe.
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<br /> 4.Proparty.Borrower�vlll keep the proporty In pood cunditlon and meke ell ropoire roarsonably nocoaeary. �
<br /> 6. E�cp�m��.Borrower epreo�to poY ail Londor'e oxponsos Includinp roasonable attornoys'foae, If Borrowar brooke eny covenante In thle deed I � .�
<br /> of trust or In eny oUlipatlon eocurod by thla deod of truat. �orrowor will pey theso omounte to Londor ae p►nvldod In Covonent 9 of thie doad of t *"�
<br /> truet. � • ��IIO.
<br /> B. Prlor 8�curlty Int�r�tt�.Unleee Borrower first obtefna Lander's wnttan ca�sont, Borrowor will not meko or pormit any chenfloa to any prlor �;�
<br /> nocurity Interest�, Borrower wfil perform all of Borrowor'a ohlipationa under any prtor mortpope, dood of tru5t or other aecurlty epreemont.
<br /> . ' Includiny Borrower'e covenante to meka paymonte whei�duo.
<br /> " 7.Atslanrr��rrt o}R�nt�ond PraTit�.Borrower aanlpno to Londar tho ronte and proiite of tho proporty.Untese Borrowor nnd Londor have eproed
<br /> othorwleo in wrltinp, Bor►ower mey colleot ond retaln tha renta ee lonp os Borrowur le not In dofault. If Barrower dofaults, Londor, Londor'o .
<br /> epent, or a court eppolnted receiver maV teke posseselan and menapa the proper4y and collect tho rente.Any ronts Londer collects shall bo ♦ ,._
<br /> � epplied firat to the costo of inenagln the proparty, Includinp court coate and attorneys' 4oea, cammisatone to rontal epente, and any other • .
<br /> _ nacessary roieted expenaee.The remaQning amount of rsnte will then appiy to paymonta on tho securod dobt ea provided In Covanent 1. , ;� �• �
<br /> 8.L��s�hddr Condomintumr,Pl�nn�d Untt Dev�lopm�nt�.Borrowor agreea to comply with the proviaione of nny loeso if thie daod ot truat is on «= �,
<br /> " a te�tehold.I�thle doed of trust Is on e un4t In a condominlum or a plennod unit devolopment, Borrowor will porform nll of Borrowor'e dutlos
<br /> under the covanants,by-lawe,or reAulatlona of tho co�dominium or plannod unit developmnnt. • • �
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<br /> 8. Authority of L�ndu to P�rform for Borrowsr. If Borrowar fells to porform any ot Eor►owor's dutios undor this dood of truat, Londor mny
<br /> perform the duYiea or cauoe tham to bo parformod. Londor mey sign Borrower's nnmo or pay any amount if necossary tor porformanco. If any •
<br /> � conetruatlon on the property Is discontinued or not carrlad on In e roasonable manner,Lander may da whatever ie necoeenry to protoct l.ondor's ;=- -
<br /> socurlty Interest In tho proporty.Thls may Includo complotinp the Canetruction. "
<br /> Londor's fallura to pertorm will not practudo Londer from oxerclefng any of Its othor riphts undor thu low or thla doed of truat. �� '
<br /> AnV amounte pald by Londer to p►oteCt Lender'e aecurity Intore4t wlil be aucured by thle doed of truat. Such amounte wiii bo due on demand ,
<br /> and will bear Interost irom the deto of tho paymnnt untii pald In full et the Interost rota in offoct on the aecurod deht.
<br /> 10.D�f�ult�n�Acc�In�Uon. If Borrowor fails to make any peymont whon duo or broaks eny covonants undor this doed of trust or any •r f
<br /> obtipetfon eecuretl by thla doed of trust or any prior mortpage or dead of truet, Lender moy accelerato the maturity of tho socurod debt end ,
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<br /> dome�d Immediete peyment and may Invoke the power of aelo and any othor remodiea permittod by applicablo law. �.
<br /> 17.R�qutst for Notic�of Drfwlt. It le hereby roquestod that coplos of tho noticee of default and sele be eent to aach pareon who is a per[y -
<br /> hcreto,at the eddress of each such person,ee set farth herein. � ,
<br /> 12.Pow�r af Sd�. If the Lendor invokea tho power of eale, the Trustee shnll first rocord In tho offico of tho registar of doods of oach county '' n r �.�
<br /> wherein the truet property or eome pert or parcol thoreof le situated e notice of default contelninp tho Informatlon requlred by iew.The Trustee
<br /> shall also maft copies of the notice of defnult to the 8orrowor, to oach porson who le a parry hereto, and to othor peraons as prescribed by
<br /> epplicable Iaw. Not leas than ono month after the Trusteo racords the notice of default, or two months if the truat property ie not In eny � „`.�
<br /> Incorporeted city or village ond la used fn terml�p operatlons cerriod on by tho trustor,tho 7rueteo sholl pive publlc notico of eale to tho porsona � �
<br /> and In the manner preacribed by appplicable law. Trustee,without demand on Borrowar, shpll sall tho proporty at puhlic auctfon to the hiphest L
<br /> '� bidder. If required by the Farm Homostead Protection Act,T►uetee ehall oftur tho p►oporty In two soperate ealos as roquirod by applica6lo Inw. • �
<br /> Trustoe may paetpone sele of all or any percel of the proporty by publtc ennouncement ot the time and place of any prevlously echeduled sele. .� • ,
<br /> Lender or ite doaignee mey purcheee the proporty at any sale. , �" •
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<br /> Upon rocoipt of paymont at tho price bid,Truateo shall delivo►to tho purchaser Trusteo's deod convoying the property.Tho recitlets contelned in � , i
<br /> Truatoo's deod sheli bo prima faclo evidience oi tho truth of the etatemonts contained theroin.Trustee shall epply the proceeda of the salo In the I ,c .
<br /> followinp order: la) to all oxpenses of the sale, Includinfl, but not Iimlted to, roesonable Truatoe's foes, ronaonable attornoy's foos and �" '
<br /> • reinetatement feea; Ib)to eil suma securod by thla deed ot truat,and lc)tho bolnnce,If ony,to tha poraona Iagnliy ontitlod to recofve It. �� ;,
<br /> 13.Foncloiure.At Lendor'e option,thla deed of trunt may bo foreciosad In the munnor provido by applicabie law for foreclosuro of mortgages •
<br /> � on real property. 'r,'R�. .
<br /> 14.I��p�cUon. Lendor mny enter tha proporty to Inspect It if Londor givos Borrower notice beforohend. Tho notice muat state tho reasonabie � �`
<br /> �. cause for Londor's inspoctlon. �
<br /> , . ,, 16.Condemnsllon. Borrower aselg ne to Lendor tho rocoeds of any oward or cinlm tor demagoa connected with a condomnation or other takinp
<br /> of all or eny part of tho propurty. Such procoode wiP bo appliod aa providod in Covenant 1.Thia assignmont is subJoct to tho torme of ony prior � �
<br /> searity nproomont. , �� �..�; ~r•,
<br /> 16.W�Iv►r.By oxorclsing any romody availablo to Londor,Londer dooa not givo up nny rights to lator use any othor remedy. By not exarcising i �
<br /> any remody upon Borrowor's dofault,I.ondnt does not walve any right to Iator consider tho ovont a dofnult it It happens agaln. ' � � I �
<br /> 17.Joi�t end 9�v�rel Lla�lilty; Co•tipnero; Succ��eon end Assign� Bound. All dutios under thle deed of trust aro Jolnt and 80Veftil. Any !� ti�\(1
<br /> Barrowor who co•slgns thle deed of tiust but does not co•slgn tho undarlying dobt inatrumontla) doos so only to 0rent and convoy that `k., )
<br /> � Borrowor's Intorost In tho property to tho Trustoo undor tho torma of thla duod of truet.In additlon,such a Borrowar ugroos that the Londer and '', X I
<br />= any othor Borrowe►undor this dood of trust may extond,modify or mako nny othor changoa in tho torms of thfu deod of truat or tho oecured •
<br /> dobt without thot Barrowor's consent ond withnut reieasing thet Borrowor irom the torma of this dond of trust.
<br /> Tho dutloe and bonefite of this dood of truat ohall bind and bonefit the euccoseore and aseipns of Londar ond Borrowor. �;'�
<br /> 18.NoUce.Untees otherwiso raquirod by luw,any notico to Borrowar shnll bo pivon by doliverinfl it or by mailing It by cortifled mail addrossod to " �
<br /> Borrowor ot tha property addreas or any other addroan that Borrower hea givon to Londor.Barrowor will givo eny notico to Londer by cortified �.,
<br /> mail to Lendor's addrasa on pnpo 1 of this dood of truet,or to any othor nddrose which Lender has dosignated.Any othor noticn to Londor shail
<br /> bo sont to Londer's addross a9 stotod on papo 1 of thfa dood of tn�et. ,
<br /> A�y notica shali be daomad to hevo boon tlivon to Borrowor or Londor whon qivon In tho mannor etatud abovo. ,'�'�K;i
<br /> 19.Trenate of tAe Prop�rty or s Beneticiel Intereet in the Bortow�r. If nll or nny part of tho p�oporty or ony interoet in it Is soid or trnnsforred .,
<br /> wlthout Landor's prior writtan conaont, Londer may domund immodiato paymant of tho socurod dobt. Londnr may also demand immudinte
<br /> • poymont if tho Borrower Is not a naturol poreon nnd o bonaffcinl Intoroet fn tho Borrower is aold or transforrod. Howover, Lender mny not ' �
<br /> damond peyment In tho nbovo eituationo If ft lo prohlbitad by fadoral luw as of tha dnta of this doad of truat.
<br /> 20.Reconveyencs. Whon thu obliguYlon sacurod by thla dood of trust hac 6non pnid,und Londor hes no turthor obligatlon to mnko udvnncoe � �"�
<br /> undor tho instrumonte or e roomonte aacurod by this dood of trust,tho Trustna shall,upon writton roquost bY tho Lendor, roconvey the truct '�f-i
<br /> - ......,o..., Thn �a�»ta.�r.nu�ntivar rn tho Borrownr.or to Borrowor's succoesor in Intorost,the trust doad and tlio noto or othor ovidonr,e of tho j
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<br /> oblipation so satiafiad.Borrowor shall pny ony rocordntion costs. -,--
<br /> 21.Succoaaor Ttuat��. Lnndor, at Londnt's optlon, may romovo Trustoo end appolnt a succossor trustoo by firat, muiling a copy of tho ��
<br /> subatitution of tn»t0o a9 ruquired by nppllcablo Inw,and thon,by filing tho substitution of truetoo for rocord in tho ofiico of thn rogistor ot doods ;'
<br /> of onch county In whlch tho trust property,or somo part thoroof, IB 6�tUAtOd.Thtl 6UCC0660f I►UBtUO,without convayenco ot tha proporty, shall ••
<br /> euccood to all tho powor,dutlos,uuthority end titlo of tho Trustoo nnmod in tho daod ot trust and o4 any succooaor truatoo. �'�
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<br /> DANKEAS 6VSTEM9,INC..6T.CLOUD,MN 69301 17�800•397�29411 FORM OCP-MT6�NE 6/iD/91 I
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