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<br /> COVGP�AP�Y3 a�����c�i��qA , "� .
<br /> e�lo.6 �Ul
<br /> � 1.P�,ymcr�4a. Borrow•or npreoo to rno!�� oll ppymonta on tho ac+curod dobt whon duo. Unlono F3orrowcr onA Lcndcr �qroo othcrwloo, nny
<br /> payrrtcnte Londor rocoivoa fram Oorrowor or for 8orrowar'o 6onofit will bo appliad firat to any emounto Borrowor owos on tl�u socurod daht 3
<br /> •• , oxcluallo af Intoroet ar principal,eoCOnd to 4itaraat,ond thon ta princlpai.If pnrtial propnymont oi tho oocurod dobt oacura for a:�y ra000n,It�vlll
<br /> not reduce or oxcueo any achoduied peyment untll the socured debt le pald in fuil.
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<br /> , 2,Ctalm�Ayeimt Tttl�.8orrowor wiil ppy e!I taxos,eesesomonte, end othor charpoe attributablo to tho propmty whon duo nnd wfll dofnnd titlo
<br /> to tho pro��erty aaalnat eny clelme whlch woutd Impelr the lion o}thle daed of truet.Londer may requlre 6orrowor to uaelpn any riphte,clalme or
<br /> defonse�whlch 6orrowar may hew apsln6t p�►tlea who euppiy lebor or materlela to Improvs or malntein tha property.
<br /> 3.Inaurertce. Borrowor will keep tho pr�perty Ineured undur terme ecceptable to Londor eY Borrownr's oxponao and for Londnr'R bonoiit.All .•x.
<br /> Imuranca policls�sheil Include a Rtanderd mortpepe claune in fnvor of Lendar.Lender wlll ba nemed ee loae peyoa or ee the inaurod on eny such �
<br /> . Inturenco pollcy.Any Inaunnce proaeeds mey be a�plied,withln Lender'�discretlon,to efther the re�toretlon or repair o} tho damnped proporty „
<br /> or to tha secured debt.If Lender requiree mottgape nturance,Borrow�r aprues to malnteln such Inauranr,a for aa lonp aa Landor roqulroa.
<br /> 4,Prapnty.Borrower wlll koep the p►operty In pood condltlon and meka all repalre reasonably neceseery. �
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<br /> 6.EYp�ns��.Borrower apreee to pay ell Lender'�expeneoa Includinp reasonsblo ettorneya'feee,if Borrowor brenka any covenante in this doad I �y
<br /> of truat or In eny obll�etlon socured by thle dasd of trust.�orrowor wlll pay thoso nmoun:e to Londor as providod In Covanant 9 of thle daed of I . •
<br /> truet. � �'�'
<br /> 8.PNor 6scurity Intensts.Unlaae Borrower firet obtalna Lender's written consent,Borrawer will not meke or pormit nny chanpes to nny prlor �
<br /> eecurity intereate. Borrowet wiil pe►torm elt o}Borrower'e oblipatlons undor any prior mortgepe, doed of truat or othor security nflreomant, ��•
<br /> Inclu�lnp Barrow6r'9 covonante to mako pnymanta whon duo. � , n�.-
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<br /> 7.Asslpnmmt o}R�nt�and Proflt�.Borrower aesigna to Lender 4ho ronte nnd profita of tha property. Unlesa Borrowor end Lundor hevo aflrned • *
<br /> othorwiae in wtltinp, Bo►rawe►mey colloct end retaln tho ronts as lonp as Borrower le not In dofeult. If Borrowor dofaults, l.onder,Lander's
<br /> � epent,or a court eppolnted►ecelver may take posseasion and manage tt�e property and collect the rente. Any ronte Londor collocte shall bo �.
<br /> epplie�firet to the coetu of manepinp ihe property, including court coete and attorneys'feea,commlealona to rental apente,end ooy othe► � _
<br /> naceseery rolated expensea.The remafning emount of ronte will thon nppiy to paymente on the secured debt ae provided in Covenent 1. g
<br /> 8.leaohofdr Condominiums;Fl�nn�d Unft Dsvdopmen4t. Borrowor a3raes to comply wi4N the proulslonb oP any leese If 4hls dead af trust Is on ' ' ;�'���•'
<br /> a loosohotd.If thls deod o}truat la on a uNt in e condomtnium or a plannod unit dovolopment, dorrowar will pertorm ult of Borrowar's dutios I " '�
<br /> under the covenants,by-lawa,or roguietiona of the condominlum or planned unit development. � ' �'�°"' �
<br /> 9.Authority of lend�r to Perform far Botrow�r. If Borrowor fails to porform any of Borrowor'o dutiae undor thla dood of uuet, Londer moy ' � �
<br /> perform the dutiee or cause them to b� porformod.Lender mey eipn 8orrowor'e neme or pay any amount if necossary for periormanco. if ony � ' ,!
<br /> construction on tho proporry Ip olecontinued or not earrlAd on In a resaonable manner,Lender may do wh8tever la nocoaeary ta proteCt Lender's '
<br /> security Interest In the proporty.Thls mny Includo complotin�tho r.nnatn�stion. �.
<br /> Lendor'e failure to porform will not preciude Lender from exercieing any of its other righte under the Iaw or tfifa deed'of trust.
<br /> Any amounts peld by Londor to proteot Lender'e security intorest will bo socurod by this deod of trust.Such amounte will be duo on domand • ..
<br /> • and wul boar Intorost from the date of the paymont until pald In fult ot tho intorost rato in offoct on tho sacurod dobt. �'t �
<br /> 10. O�hult�nd Aca�I�nUon. If Borrowar inils to meko any paymont when due or breake any covanante undor this deed ot trust or any �`
<br /> obllpatlon eecured by thia daed of trust or any prior mortflapo or doed of trust, Londor may acceiornto the meturity of the aecured dnbt end �� , %��
<br /> � damand immediete payment and may Invoke tho power of sale and eny othnr remedloa permittad by applicable levr. ��
<br /> 11,R�pu�st tor NoUc�of D�fwtt. It la hetoby requeateU that copies of the noticea of OefaUtt anti eate ue sent to aecn paraon wno is a parry � _ -.— z�y��g
<br /> , hereto,at the Addresa of each such person,ea oot forth herofn. „� '
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<br /> 12.Powa�o!Stl�.If the Lender invokes tha powor of sale,the 7rustoe shali flrst rocard In the offico of the rogloter of deede ot each county i .1, • t� � ,,
<br /> • whereln the truat propert}r oi eome part or percel thereof Is aftuated a notico of default contalnin{�the Information requlrad by law. The Trustes
<br /> ehall elso mell copiea of the notice of de}ault to the Borrower,to each poraon who is a party horeto, and to othor porsone as prescribed by � _� ,:
<br /> appiicable lew. Not lesu then one month efter the Trustee recorda the notice of dofault or two months If the trust proporry Is not In a�1y ; �• � 5•
<br /> • Incorporatad city or village and la uaed In tarminp operetlona cerried on by the truator,the fruatea eheli give publio notice of sate to the peraona � . • ��
<br /> and in the menner prescribed bY eppplicable law,Trusteo,without demend on Borrower, ehell seil the properry at publlc euation to the highest , : ;; • �
<br /> blddsr,If required by the Farm Homeatead Proteation Act, Trustee ehall oHer the propertV in two separata salea ae requirod by nppliccbto law. I . �
<br /> Truateo may poatpone sale of all or eny parcel of tho proporty by public ennouncement at the tlme and pinco of any previously echedutad eale. ,�,,;
<br /> Lender or fto dealgnse may purcheae the property et any eale. � –
<br /> Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Truatoe'�deed convaying tha property.The recitiale conteined in i • �f�> •�
<br /> • Truatee'e deod ehell be prime facle evidlence of the truth of tho etatemente cantalned theraln.Trustee ahall apply the proceeda of the sete in the I �/ � .�
<br /> followinfl order: (el to ell expensea of th9 selo, inCluding, but not Ilmited to, roasonable Truutqe's fees, reasonable ettornoy's tees end i �
<br /> rolnstatomant foos;lb)to nIi sume socured by thia dood of truat,and(c)tho bainnco,It any,tq tho pereona logully ontitlod to racoivo It. ! A
<br /> 13.Ponclo�urs.At Londor's optlon,thla doed of t►uat mey bo foreclosed In tho mannor provido by applicnblo law tor farecioaure of mortgagos i �,,, ..
<br /> an real proporty. , , �� �y
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<br /> 14.Imp�FUon. Lendar may enter tho property to inapect it if Lender givos Borrower notico beforehend.The notico must state the reesonable � � g�
<br /> causa for Lender's Inepoctlon. �
<br /> 16.Cond�mn�Uon.Borrowor asalp�ns to Lendo►tho rocooda of any award or claim for demag os connoctod with a condomnation or other taklnp � �.
<br /> � of ull or a�y part of tho proporty.such procaeda wIP ba epplled ua provided in Covenent 1.This eselgmm�nt Is subJoct to tho terms of nny prior �f.� "
<br /> socurity agroemont. t•: .r�;f���
<br /> 18.Wdve�.By exerclsing eny ramedy eveilable to Lendor, Lender does not flive up any rtghts to later�se any othor ramedy. 8y not exerclsinfl i �� � —
<br /> any ramndy"upon Borrowor'e dofault,Lander does not wafvo eny rlght to leter conatdar tho event a defeuit if it happena agoin. � ,ryf�
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<br /> ' 17. Jolnt and Sev�nl Lieblif ri• Co•sl pn�n; Sucee��on end Assi�ns Bound. All dutios undur thls doed of trust aro joint and sevoral. An y ,� �` `;�,
<br /> 8orrowor whn co•sipna this dond of truet but dooe not co•sign the underlyfnp debt Instrumantlel doos so only to grent and convey that ,• ��
<br /> Borrowor's Intoroat in tho Froporty to tho Trustoo under tho torms of thla doed of truat.In addition,such a Borrower agroea that the Lendor and ,
<br /> nny othor Borrowor undor thlu doed of trust may extend,modl�or maka eny othor chengos In tho terme ot thia deed af trust or the sacurod '' '
<br /> dobt without thet Borrower'e ccnaont end withaut raloaeing that orrowor from tho tarma of thls doed oi trust. w �
<br /> Tho duties and banotits of thls dood of trust shall bind and bonofit tho succaasors ond aesigns of Londor and Borrowar. ��
<br /> 18.Notice.Untoss otharwiea roqulred by low, any notico to Borrower shoil be flivon by dolivorfnfl it or by mailinp It by certHied mail addrossod to '
<br /> Borrowor ot tho property addrosa or any othor cddross that Borrowor has fliven to Lendor.Borrowor wfll gfvo any notica to Lender by conliled �
<br /> � mall to Lendor's eddrese on pago 1 of thie dood of trust,or to any othar uddroos whlch lender hum doslgnotad.Any othor notico to Landor ahall c ;
<br /> bo sont to Londar's addrose as etatod on pngo 1 of thlx dood of trust. ,
<br /> Any notico shall bo deomod to havo boon givon to Bu�rowar ur Lendar whon flivon In tho munnor statod abovo. % '
<br /> 18.7nnster of th�Prope►ty or e Ben�Bcid Intereat In th�Borrower. If all or eny port af tho proportv or any Intorest in it la sold or transferred }
<br /> without LondQr's prlor wrrtton conaant, Landar may damand Immediato pnymont of ths sqcured debt. Lnndor may aleo domand Immodiote �
<br /> peymont if tho 8orrower Is not o natural porsan and a bonoficfal Intoroat In thu Borrowor Is sold or trunsforrod. Howovor, Londor moy not �. �I _.
<br /> dam�nd paymont In tho abovo cltuotlons if It is prohibltod by fodorol law ua of the duto al thia dood of trust. . K
<br /> Z0. ReCOnveyence. When tho obligotlon eocurod by thia dood of trust hns boon pnid and Landor has no turthor obllgetfon to make advancas • , f�
<br /> under tho Inatrumonte or o groomonte socurod by thls dood of truat,the Truatoa shnlf upon writton roquost b y the Lender, reconvay tho trust ": �_•I
<br /> proporty, Tho Lendor eholl delivor to tho Borrowor,ar to Borrower'e auccassor in interost,tho trust deod nnd t ho nota or other evidonco of tho .: ,_�
<br /> --'-----"" ' � - obllgatlon so sFItlsltoU.tlorrowor ahnll poy any recordation coata. ' - j'� -
<br /> 21. Sucaoator Truste�. Londor, at Landor's option, mny rnmovo Trustoo ond uppolnt o succossor trustee by first, mnilinp a copy of tho ++'
<br /> subctitution of truateo ne raquirod by appticablo law,end thon,by fllln�tho subatituYlon of trustoo for rocord in tho offico oi tha rogister of doeds +
<br /> ot oach county In whlch tho truat proporty,or somo pnrt thoroof, la s tuatod.Tho auccaseor truatoo,without conveyenco of the proporty,ahall
<br /> . auccood to nll tho powor,dutios,authority and titlo of tho Trustoe namod In tha dood of trust ond of nny succoesor truatoe. I
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<br /> DANKEIiS 6YSTEMS,INC..6T.CLOUD.MN 66301 Il-OOD.'i87•2$411 FOItM OCP•MTGNE 0/19191 �
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