|
�
<br /> .. s.._
<br /> ��;�, .
<br /> ., � �.'��°_'� � . :...;,,�•., . ;. .. ..� _--
<br /> ._ . . .. - •,.�.„ � ' � . . -�_;.��u.r�/rM+��n:.a�y�rr�..,.1,,,a,..�...�...a.......mn.'tr�"q pr9oo4hh�e,�o�l �,,,��•---- _ ":-�.•.
<br />� sG].iwLTt,NYNe... _'���_�—�'__.. _.—_'___'.."_�__'__'_""�__.__l' ._�"'�_"'_.._.�._.—__J�.�_.���Y��-�"_
<br /> _L..
<br /> • " �:. .r..:--
<br /> � cov�rae��aYa � i�f�,(�.'� ���r�`�� x �,
<br /> 1. Poymcnio. Oarrowct oprooa 4o malco oll pnymcnto on tho cocurcd dcb4 r�hon dua. Unl000 h3orQOelor cnd Lcnr�ci aprco uth�rvJl��, any _,
<br /> paymonte Lendor racolvoa fvom 8orrowcr or fo�Borrowot's k�nafit wlll bo npptied tiret to any emounte Qorrawer owea on the securoQ deDt
<br /> , oxcluslve o1 In4erest or prirtclpai,eecond to interost,end then ta principal.If partlai prepeymant of tho securad dobt occure tor any reecon.it wlll
<br /> not reduco or excuse eny scheduted p�yment until the oecured dedt le pnid In full.
<br /> 2.Claim�Ap�lmt Sit1o. Borrower wlll pay atl texea,essetemente,end other cherpes ettributeble to the property when due and wlll dofend fitlo •
<br />� to the property ep elnot any cl�lm�whtcb wauld impeir th�Ilen e!thla daod o}treat.Lender moy ruqulre Borrower to e�sipn�ny rtphte,clalms or �� •',. ..
<br /> detenaen whlch gorrower may heve epalnM psrtieo who eupply le6or ov materiala to improve or mNrtdn the prope�ty. .� ' '%%�'�t
<br /> ..
<br /> 3.In:urazra.corroelcr vdtl kc.p tho prop�rty li�urcd undcr tcrmo nceoptabla to Lortd°r ot Borrutr�cr'o ox;�cn�o end for LcndcYn hartefit, All ' • , --
<br /> � Ineurence policles shell Inciude�stand�rd mortgage cl�ui�in fsvor of lender.I.�nd�r wfll 6�n�med a�lo�a p�yee or e�the in�urad on any euch _',,`
<br /> ineurence policy.Any In�unne�proceed�may be spplied,within LendAr'�diecretion,to elther the re�twation or►op�ir of tiv�d�m�ped prapeny •s�t:*•�
<br /> � or to tha securod debt.I}Londer raqutrer mortpepe insunnce,Borrower apree�to maintdn wch Inounnce for n lonp ea Lender requiro�. ,
<br /> 4.Prop�rty.Barrower will keep the property In gaod eonditlon end meke aii repalrs rea�onebly neceae�ry. " ,
<br /> 6.Expmsot.Borrower apreei to pay all Lender's expenaes Includtn8 reetoneble ettorneye'feea,I}Bo►rowor breeka any covenant�In thi�doed ..
<br /> of truet ur In any o6lipatlon aecured by thle deed of truet.�orrower wlll pay these emaunte to lender ea provlded In Covenant 8 of thle deed of ,�
<br /> trust. " -
<br /> 8.Prior S�cur�y Int�nsU. Unleea Borrower first obtains Lender'e writtan consent,Borrower wifl not make or permit any chenges to eny prfor � �
<br /> socurity Interests. Dorrowor will perform ell of Borrower'e oblipatlona under eny prior mortgege, deed of uuat or othar securlly eyreement, `"°
<br /> inctudinp�orrwwer'e covenent�to make payment9 when due. „ ��=n=
<br /> 7.Assf�nm�nt ot Rk►ts�n�Proflt�.Borrower aaslgn�to Lender the re�te and profit�of the property.Unlea�Borrowar end Lender have eyreed • " .�•"'-
<br /> otherwiaa In writing, 8orrower mey collect and rotain the rente e� lone ea Borrower Is not In defeuit. if Borrowar dofeuit�,Lender, Lendn�'� �^'
<br /> •� apent, or a court eppolnted recelver may teke poesession and manape thA property and colteat the�ente. Any rent� lender coliec:s shdl 6e
<br /> ' � epplied firrt to the cost�of manaping the property,Includinp court coat� and ettorneye' tees, commisafom to rentel epe� nt�, end eny otfier �y�.;
<br /> neceaeary releted expenaes.The remeTninp amount of rent�will then bpply to p�yments on the aecured debt aa provided In Covenant 1. � ��+�
<br /> .�� .. •,.+N�l:�.
<br /> 8.4eai�hddr Condantdumas Pl�nr►sd Unit D�velopm�rta.Bn►rower spree�to comply wlth the provUlone of eny le�ee if thls deed of truat Is on t � •'f ��5�
<br /> ? a loasehold,I{thit deed oi Vutt li on e unit In e condominium ar m plsnned unk development, Borrower wlll pertatm ell of Bnrrower'a duYie� > ___,�_,.-,_
<br /> " under the covanente,�ylaws,or renulations of the condominium or pienned unit devetopment. � «'-.�--
<br /> ..,,.—
<br /> 8.AutNority of L�ndn to Petform far Bonowsr. It Borrower fails to nrtorm e�y of Borrower'e dutlae undar thla deed of trust, I.e�de��ney !'°Q"
<br /> perform the dutie�or cauae them to be performed.Lender may stpn�orrowor'� name or pay�ny amount if neceasary for pertormance.If any a,. ~t��';-
<br /> consuuction o�tho property Is dlacontlnued or not cerrled on In e reaconebie mennor,Lender may do whatever I� necessery to pro4ect Lender'a -���• •
<br /> sncurity Inierost in tho property.Thle may Includo comptetinp the connruction. � • �'°
<br /> , . �.—-
<br /> Lender'e fallure to perform will not proclude Lender from exercleinp eny of Ite other riphU under the Iaw ar th(e deed of t►ust. � _—
<br /> AnV amaunt�pald by Lender to proteat Lender'�security Interest will be secured by thls deed of trua.Such�mounts wiil 6a due on demard • 1•�. t�:
<br /> und wili bear Inteteat from the dete ot the paymortt untli peid in full et the Intereat►ate In effect on the eacured debt. ' ,;'�,;t,,•"��
<br /> 1Q. D�fwit�nd Aee�l�nUon.if Borrower teils to meke nny payment whon due or breeke eny covenante under thia deed of trust or eny ,? „ �'
<br /> obligatlon secured by thlt deed of t►u�t or eny prior martpepo or dead of tru�t, Lender may accot6rste tho maturfty of the�ecured debt and
<br /> demand Immedlete peyment and m�y invake d�e power of sale and any other remedies permitted by applioable lew. ����"
<br /> l 11.R�qu�ttfor RoUa� of D�t1Wt.It ia horeby requested that copies of the notice�of defeuit end eete be Bent ta each pe:�on who is e parly ".:�: �
<br /> �� , I hereto,st the addret4 of each wch peeaon,as aet forth hereln. • �a��;
<br /> �, � ; _
<br /> �� 12.PowK ot Sd�.If the Lender invokea the power of aele,the Truetee shall firot rocord in the oifice of the roefator of deedi of sacb counry . � '„' ,�
<br /> wheraln the truet property or some part or parcel thereof is eituatod e noUce of default contalninp th�informetlon requirad by Isw.The Trustee
<br /> shsll alio m81 copies ot th�notice of default to the Borrower,to e�ah porean who i�e parcy hereto, end to othor penom s� prescribed Dy , � �� �
<br /> . epplicabla law. Not leas than one month efter the Tru�tee records tha notice of defauit or two months If the uust property Is not In any � ti
<br /> Incor�orated city o►viilepe and I�uted In fermine oper�Uon�carrled on by the trustor,the fruttee sh�li give pubiic notice of eale to the persont ,�. ,
<br /> �� and in the manner prescribed by apppllcabie I�w.•Trustee,witt�out demand on Borrawer,shall eell the properry et publio auctlon to the hlpheit
<br /> • bidder.I}�equired by the Farm Homeatead Proteetion Act,Truatoa shall offer the proporty In two separate satea e�required by applloable law. ' ��;, �
<br /> Truatea may poetpone eale of ell o►eny parcel of the property by public announcement et the ttme and place of any previou�ly scheduled se1e.
<br /> Lender or h�desipnee mey purchase the propsrty et any Qate. �_��i "�� .
<br /> Upon receiGt of paYment oi the price bid,Truatee shall deliver to the purchaeer Truatae'e dead conveying tha property.The recltfel�contained In
<br /> Truetee's deed ehell be prime facle evidience of the truth of the etetements conte(ned therein.Truatee ehell apply tho proceede of the eele In the ;;:''�;
<br /> foilow(np order: le) to dt expense� ot ihe sale, Including, but not limlted to, reaconable T►ustee's feoa,reeaonable attorney's tee� and .
<br /> • reinatetement fee�;Ib)to ell sums eacured by thia deed of trust,and lal the balence,If any,to the persons IaQelly entitled to recsive It. ' �t
<br /> 73.Far�clo�uro.At Lender'e optfon,this doed of truat may be forecloeed in the manner provlda by appfloebie lew for forecto�ure of mortpape�
<br /> on real proparty. - 'xr;.��-�` -
<br /> 14.In��y on.Lender mey enter the property to inapect it if Lender g{voa Borrower�notice 6oforehand.The notice muat etete the reeeonobte ' J �'"'""'
<br /> cause of r Lender'e in�pecdon. - . . �'�
<br /> . � '�
<br /> 16.Cond�tmstlon.Borrower e�stgna to Lender the roceada of eny eward or cleim for damagos conneCtod vdth o condamnetlon or other teking "
<br /> of all or any part of the properry. Such proceeda wiP bo epplied oa provided In Covonant 1.Thle nselpnmont Is sub�uct to tho terms of any prlor ,�
<br /> socurity agreemont. (�.,:�` •
<br /> �.
<br /> 18.W�v�►.By exercfaing any remedy evallabie to Lender,Londer doea not gfve up eny riphts to later use enY other remody.By not exercislnp ; �
<br /> _ ony remedy upon Borrower's detnult,Londor doas not walvo nny right to latcr constder tho ovont a delault If it happons agaln. " ' ' �
<br /> ,/••�" ��
<br /> � 17. Jdnt �nd Sw�r�l Ll�biilty• Co•sipnon; Succ�uon�nd Astipns Bound.All dutia� undor this dood of trust aro joi�t end aeverni. Any ,:� �!;�r'
<br /> Borrower who co•aigns thia deod of Vust but dooe not co•sipn tho underlyinp debt inatrumentlsl doos so only to prnnt and convoy that '
<br /> • Borrower's Intareat In the property to the 7ruatee undor the torme of thie deed of Vust:I�fldditton,auch a Bortower agreea that the Lender end � '� � �
<br /> ~ �� nny other Borrowor under thts deed of truat may extend,modi�or meka any other changea In the terma of this deed of truat or the secured , .�
<br /> • debt wlthout that Borrower's consent and without roloasing that orrowor from the terms ot thfe dpod of trust. � ,rt �
<br /> • -�i
<br /> The duties end benetits uf thli deed of trust shall bind and benefit t1�e succossore and easigna of Londer and Borruwer.
<br /> 18.Nodc�.Unlese otherwise requlred by 18w,any notica to Borrower shall bo Alvon by doliverl�g It or by maitlnp it by cortifiod mail eddroeaed to � M, �
<br /> • Borcower et the property eddresa or eny other addrees thet Bo►rower I�as piven tu Londer.Borrower will pive eny notice to Lender by cortifiad � �
<br /> mail to Londor's addros�on pago 1 of thla dood of Vuat,or to eny othor sddrose which Lender has do8lgnated,Any othor notico to Lender shell , ,� �
<br /> bo aent to Lender'a addrese ee atetod on paee 1 of thle deod of trust. •
<br /> � � Any notice ehell be deemed to have been glven to Borrower or Londsr when pfven In�he manner statod abovo, � s '
<br /> ' 19.Tr�nsiH of tfis Frop�rty or�B�mticlei Irttsre�t In�tl»Bonower.It all or any part of tho proporty or any Interoot In It is sold or vansfocrcd '
<br /> without Lendar'e prior writton consenL Londor may domand immediete paymont of tho socurad dobt. Lendor may oiso damand Immodiato
<br /> paymant if the Borrower la not a naturel person and a bonoficlol intorost In tho dorcowar Is sotd or transtorrod. Howovor, Londcr moy not
<br /> domand paymon¢In the ebove olivatione I}it la prohibitod by fodorel law es of tho date of thla dend of trust. � � . / � -
<br /> � � !
<br /> Z0.Reconv�yanc�.When the obtigation securod by thie deed of truet hae beon pnld, and Londo� has no furthar obligation to mako edvencas r�;
<br /> under tho Instrumonts or a�reemonie socured by thle dood of truet, tho Truotoo shail,upon writion roquost b�tho Lendo►,roconvoy tfio trvst ;
<br /> - ...__ ._..—'_'.. .......e.io Ths Is.vlu nhdl �Ii�u fn tM M•rnwnr nr tn linirmunr•c cunrneunr in Inrnm.� �M s....�d�.�...d• ....•�......�...�..aa�....�..� .�.. .�_1
<br /> _ __ ._,—...,__"..._ �._ �.,. ..._ __..__. _..�. __..._. .' _" _"'_•'_'• ' ' "_"'_'_ _.. ...._.__.. ..._ . ....... ............�... .... _-.--...
<br /> • obl�petfon so satfafind.Borrowor shell pay any rocordation coste. --_._____....,.._ .�.,,„ .�
<br /> i
<br /> 21. Succ�ttor Tru�t�e.Londor, at Londar'o o�tfon, mny romovo Truatoo ond appoint a succossor trustao by first, moiling o copy of tho '
<br /> subatitutlon of trueSee as requlred by eppilceblo ow,nnd then,by tlllog tho aubstitutlon o}trustoo for rocord in tho ofNco of tho roglutor of doada
<br /> � of oech county In whtoh tho trust proporty, or somo part thoroof, la eituotod.Tho succossor truetoo,without convoyanco of tho proporty,shell �.�
<br /> - succood to ell tho powor,dutloa, authority and t�tio ot tho Trustoo namod In the deed ot Trust�nd of any succossor truatoo.
<br /> • '. . I
<br /> ' I
<br /> ' , ' �
<br /> +.,
<br /> fpape 2 0121 ;
<br /> -� �� .. , BANKfn38V8TEM8.INC.,6T.tlOU0,MN60701fl-o0Q�87-7J471FOMIOCP•MT({�NEQf1B/81 1
<br /> — I
<br /> , . ' I
<br /> � ' • ' '
<br />
|