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<br /> covEC�araYC '��- �..-�, � �= J :,.x��;
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<br /> 1. Poy:��nto. Borrowcr nprcoa to matco ntl pnymanto on tho occurod dabt v�h�n duo. Unl000 Dorrawor ond Londcr �prc o41i.�� cny •
<br /> payrn�nte londer rocelvoe(rnm 9orrowor or for 0orrov�or'o banofit wlii bo upRIlod iiro4 to ony oniounto Doirowcr owas orn tho cccurc� r1��t
<br /> � oxciusivo of Intereat or princlpal,eecond to irteree4,end then to principol,If partlal prepeyment of tho eocurod da6t occuro ior eny reoson,It will _�_�
<br /> ' not reduce or oxcuae eny achnduled payment until the eocured debt le peld In hill.
<br /> 2.Ci�lmi Agd��t Tftl�.Borrowar wlil pey sll texe�,ase6fement�.end oth�r cherpen ettrlbutoble to tho propurty when dua and will dofend title „
<br /> to tho property epalmt ony cleime whlch would lmpeh tha Me+�Qf thle ds,ed of iraet.Lendor moy requlre Borc�wor to eealan eny riphto, clslme or -_—
<br /> defen�ea whlch Borrower may hrve sptintt partisa who�uppiy I�bor or m�terleli to Improve or malnteln the property.
<br /> 3.Imuranc�. Borrovrer will keep the praparty Ineurud under term�oceaptdble tn Londor ot Borrowor'o oxpenae end far Landarb bcaneflt. All ;�s
<br /> inaurence polle{er oitall Include a�t�ndard rr.ortflaga clau¢�!n favor o!Lcndar.Lcndor a�lll bo nomod ao loaa payaa or oo th�irtsurad on r.ny eueh , _____
<br /> . insurence policy.Any Imunnce proceed�mey be aRpUad,withln Lendsr'�ditcrotlon,to elther the ro�toretlon or rapalr o}the dsm�p�d property , � °°-
<br /> or ta the ee:ured d�sbt.�f Lender requlres mortpepe Insurmce,Borrower�pree�to mslntain wch Inaurcnce for r�long u Lender require�, _ --
<br /> 4.P�op�rty.Borrower wllt keep the praparty in good condltlon end meke ell repeir�rea�onabiy neceasery. •
<br /> 6.Expsnte�.Borrower anreea to pay elt Lender n oxponcea Inctudinp reesonab�e attorneye'teea,if Borrower breeke eny eovenant�In thlo deod � � �•
<br /> of truat or In any oblipetion socured by�thla deed of uust.�orrower wlil pey the:e anounte to Lender ae provlded in Covenent 9 0}thia deed of .� °
<br /> trust. -
<br /> � 8.Prlar S�cuNty IrK�nsta.Uniete Borrower tiret obtalne Lender'e wrliten cansent, Borrower will not meke or permit any chand4o to nny prlor � ' ��� r T:,
<br /> security interente. Borrower witl perform ell of 0orrower's oblipatlons under eny prlor mortgape, deed of truat or other security�greement,
<br /> including Borrower's covanante to meke paymente when due.
<br /> r tho rente and rofite o4 the ro e .Unlese Borrowar nnd Lendor hdve agreod ��,
<br /> I 7.Aislpnm�nt ot R�nt��nd P►oRt�.Borrower essigns to Lenda p p P ►N a�
<br /> otherwise In writin�,Borrower may collect end retein the rente aa long ao Borrowor IB not fn doteult. If Borrower deTeults, Lender, Lcndor'e
<br /> epent, or a court appolnted recelver may take posaesalon end manapo the property and caliact the rent�. Any rente Londer cotlects ehall ho �q; �•
<br /> epptled first to the coato of inenaglnu the property, includln9 court costo enJ ettorneye'toee, commiaciom to rentel n0�enta, end any other
<br /> - necocoary related expensea.The remelniny amount of rente will then eppiy to peymenU on the aecured dabt e�provided In Covenant 1. �.j �� " `
<br /> ' ''";;�`At,ti:
<br /> D.L�::eh�da�Corsdor.�'rdurrto;Pleared Unit Developtnente.Bo�rower aflreos to oomply with the provfalone of eny taece if tHb daed of trust la on _•:�r,;�
<br /> � a loasehotd.If thl� deed of trust la an e u�it in a condominlum or e planned unit devolopment,Borrower will perform ell of Borrowa►'�duties • � '*� �
<br /> � unde►the wvonants,by-lawa,or roeWetions ot the condominium or planned unft daveiopment. `� �"•��
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<br /> � 9.Authority of L�nd�r to P�rform tor Borraw�r. If Barrower falte to perform nny of Borrower's dutioa undor this dnod of trust,Londer mey '^ �w—=
<br /> . �orforen the dutles or cause them to b�perfnrmod.Londer mny�ipn Borrowor's neme or pey ony amount if nocessary for performence. If any ��� �-'-'-'
<br /> constructlon on the property Is diacontinued or not carried on In e roesonable manner,Lendor may do whatovet le necoseery to proteat Londer's ��;��, .y��
<br /> secudty Interoat In the property.Thie may Includo completing the conatruatton. '-` y•�`��- "'� `-
<br /> +r:�a
<br /> Len�ar'a fallure to perform wfll not preclude Lender from oxorcislnp eny�f its other riphts undor tho law or thia doed of truRt. '�f°�"�
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<br /> Any emounts paid by Lender to protect lender's sacurity intoreat will be socured by this deed of trust.Such amounts wlll bn due on demend � �'• =�•°
<br /> and will bear intereat from the date of the paymont until peid in full et the intereat rato in eftect on the secured debt. •
<br /> .,'y �!�w`���
<br /> ' 10. 0�4auft end AceN�nUon. If Borrower teils to make eny payrt�ent whon due or breake any covenante under thia deed of Vuat or eny ';*.: ��°°'
<br /> o6lip�tton eecurad by thle deed of trust or any prlor mortgepe or deed of trust,Lender mey accelerete the metutity of the secured debt and �`�
<br /> • demand immedlato peyment and may Invoke the power of sele end any othor remedfoa permftted by appliceblA law. :�,:; �•
<br /> • � �Y �I^ L1. J .'r .�y�
<br /> , I�• t�t��ti�.Yt��vYtri�!�Y�Jt. iZ:i ::°v�.°.i:�Tvy::°v.�.tri�Zi:�t�.v�lE4 41 f�o nnflrno 11}`SA}p�I!*AlV� YRIA�1A Cilfl*}ff RN!!FI fl/1/Rflli WIIO TB Q(19!(SI . V.�t��l_.. �
<br /> hereto, at the eddrese af each euch peraon, ae eat forth hereln. i ��� `,��'
<br /> 12. Pow�►of 9Ms. If the Lender invokee the power of sele,the Truatee ahail firot record in tho oHlea of the register of deede of eech counry ,+�Y�.
<br /> wheroln the t►uet p►operty or aame pert or parcel thereof Is eituated e notice of defeuit containinp the information required by law.The 7ructee �
<br /> shall elso meit copie�of the notice of defeult to the Borrower, to each person who la a party heroto, end to other persona ea prescrlbed by ,
<br /> • appllcable law. Not lese than one month after the Truetee rocorde tha notice of deteult or two monthe If tho trust proFerty li not In any .
<br /> Incorporated city or vlllapo e�d I�used in farming o�eretiane carriod on by the truetor,the�'rustee shell givo public notice of eale to the persons ,, -
<br /> ' end In the msnnar preacrihed by apppliceble lew.Trustee,without demend on Oorrower,ahail eell the properry at pubtic euction ta the htghoat �,��
<br /> bldder. If raqufred by the Ferm Fiometteed Protection Act,Tructee�hali offer the property in two sepatate eales ea required by appliceble lew. • : '�.
<br /> Truates may pastDOne sale ot ell oa any percel of th�properry by publio announCemont et the tlme and ptace of eny previously acheduled aale. ^�
<br /> Lender or ft�deaipnee mey purchaRe the property et nny eaie.
<br /> Upcn recelpt ot pnYment o4 the prica bid,truetee shail delivor to the purchasor T�uetce's deod conveyinp tho property.Tho racitlals conteined In � '�
<br /> � 7rustoe'e deed ahall bo prime facie evidiance of the truth of the atatementa containnd thoreln.Trustoe shaii apply tho proceode of the sale in the ';;���
<br /> following order: le) to all expensee of the enlo, Includinp, but not tlmitod to, reasonable Truatee's fees, reosonebie ettorney� teos end �;
<br /> ' relnatetement taea;(b)to ell sume eecured by this deed of trust,and Ia)the balanco,if eny,to the persons lagelly ontitted to►ecetve it. � ,':
<br /> 13. Far�elo�un.At Lender'e option,thie dee�oi trust may be foroclosed in tho menner provide by applicnble law for foreclosuro of rnortgeges � .
<br /> on reei praporty. ' ���+�
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<br /> � 14. Insp�ctlon.Londer mey onter thn proporry to inspoct it if Londer glvoo Borrower notice beforohend.Tho notice must etato ttw raesonablo �� ��¢^.,�
<br /> ceuse for Lander's inspeotlon. y�'� �.
<br /> 16.Cond�mn�tlon.Borrower easig�na to Lendor the rocoede of any award or clalm for demagos connoctad with a r,ondomnatlon or othor taklnp ' -
<br /> of ell or any part of tho proparty.SucA proceeda wiP be applied as providod in Covonent 1.Thla ossignment la subJoct to the torm�of eny prior �;r..:';,'r
<br /> socurity agteement. � ;�� ,�
<br /> 1E.Welwr.By exorclsinp ony temody available to Lendor, Lender doos not g(vn up nny rights to leter uso any other romedy. BV�t oxorcisinp I • f'�� '
<br /> ony romedy upon Borrower's dofauft,Londer does not wolve uny right to later coneider the event a default if it happene agein. �. . . � I�
<br /> 17. Jotnt�nd S�wr�l LleWlity Co•tipnus; 5uccason �nd Aeilpns Bound. All dutfos undmr this dood of Vust aro Jolnt and sovoral. Any I ,� t�' ;';�7
<br /> Borrowar who co-6ipna this deed of truat but doos not co-slgn tho undorlyfnA dobt instrumont(s) doos so only to prant and convoy thot • f�
<br /> Borrower'a In4erest In tho property to tha Trustoo under tho terma of thfe dood ot truat. In addition,such a Borrowor agroos that the Lendor ond � • ,�, :
<br /> - any othar dorrower under thfe deod of truat may oxtond, modiiv or mako eny othor chenpea in tho terma of thla doed o�trust or the oocurod I .��
<br /> debt without that 9orrower'e coneant end without releesinfl that�orrowor from the torma of thia dood of truat. �
<br /> , � ��k�
<br /> Tho duties and benofite of this deed ot trust ehall bind end beneflt tho succossoro and esaiflna of Londer end Borrowor. � -
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<br /> � 16.Notic�.Unlesa otherwiso requfred by law,nny notico to Borrowor shall bo gtvnn by dolfvortng it or by mafling It by cortlilod mall nddroasod to j _��
<br /> Borrower et ttN pfoperty eddraea or eny other nddreas thet Borrower hoa flivon to Londer. Rorrower wiil givo any notico to Londar by cortifind ;
<br /> mail to Londer'e aJdreea on page t of thle deed of trust,or to eny othor eddresa which Londor has dosignated.Any other notice to landor ehall • '',
<br /> be aont to lender'e addroaa es etated on pafle 1 of this do�d of trust. �
<br /> Any rto4lca ehall ba deamad to have boen piven to Borrower or Londor whon plvnn In tho mannor stntod ebovo. � x`,
<br /> 1D.Tnnifn of th�Prop�rty or a B�tldd I�t�rs�t In the Borrow�r.If ell ar any port of tho proporty or ony Inturost In It Is sold ar t�ensferrod
<br /> wlthout Lendcr'e prior writton conBOnt,Londor may domend Immodiato paymont of tho socurod dobt. Landor may nlso damnnd Emmodloto . �
<br /> paymant if the Borrowor is not a natural porson end a bonoficlnl Interost In the Borrowor fa sold or traneferrnd. Howovor, Londor mey not '
<br /> domand paymont in tha abovo eituetlons it it Is proNlbited by fodornl low ns of tho doto of thla daod af trust. • . ,�`�
<br /> 20.R�conv�►NnCS.Whon tho obligation socwod by thle dood of truat hns baun pald and Lnndor has no furthor obligatlon to mako edvoncos � � ,��
<br /> undor tho Ins4rumonte or ngrocmonte socurod by thla daod of truat,tho Trustoo shalf upon wrltton roquostt by tho Londor, roconvoy tho truat � �
<br /> propo �rcy.Tho Lendor ahall dctivor to tho Borrowqr,or to Borrowar's succossor In Intorost,tho trust dood and tho nnto or othor ovidonco 04 tho ' , �
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<br /> 21. SueCnzor T►ustN. Londer, at Londor'a o�tion, moy ramovo Trustoa and appotnt a auccosoor trustoo by firet, mnfling o copy of tho �
<br /> suhetitutlon o!truatoo as roqulrad by oppucabio ow,and thon,by fiiln�tho aubatitution of trustoe for rocord in tho ofiico oi tho rogiator ot doeds � '�
<br /> of each county In vehich tho trust praparty, or somn part thoroot,Is s tuatod.Tho auccosaor truatoo,without convoyanco of 4ho proparty, shall .
<br /> su�coad to eil tho powor,dutfoe,authority and titlo ot the Truatoe namod In tho dood ot truat and of eny succoasor truatoo. 'i
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<br /> IPty�2 0l71 �
<br /> ° �� OADlIffRS 6YBTEM9,INC..8T.CLOUD.MN 60901 Itd00�]97-iS411 FOI�M OCV•MT6NE 0/1dIB1 � "--�
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