|
,:;r,r
<br /> ,:_f
<br /> �• . .. l ., _
<br /> �, � . • ,. ,. , _.
<br /> ,. - ' -
<br /> ._._---==`-----°...____ _ . _ _ ..._. _-... . ._ . - - =-------- ...._—._._......_. ._•---..--�---�•-�- ---- __�:.�. „ �
<br /> :;'t ,
<br /> �w � . .. • Y.n �.iC�: � . •+
<br /> : .�-= : , cg�c��nra�Pn•r.:�':;°:so•::�. . � � .
<br /> _ . . . -•' � �.'��;y `.������� '
<br /> 1. Paymento. Borrowor opreoa to mako a1t paymento on the aecured dabt vrhen 0ua,�UnloaY florrowor ond Londar e�roo othorwlso, t+ny —
<br /> � oxc usivoeofentoto t or�princlpol �ocond to�ntorost�e d than to printc pall.bf panlnll pro�p ymont of 4ho eucu edrdobt oc ure for eny oeson di d 4b�i " � '�
<br /> not raduco or oxcuso ony echaduled peymont until tha nocurod deht le pnid In}uil. „ _
<br /> 2.Cielm�Apdmt TIU�.Borrower uvlll pay ell taxea,eseeisment�,end other charpe�ettribu4able ta tho property whan due end wlll defend title .�A:
<br /> to the property epelnat eny clelmo whlch woutd Impalr the Ilen ot thlo doed o}truat.Lendnr mey requlro Borrower to aaetpn ony ri�hte,clalme or � __
<br /> dotonson whlch Borrower mey havo eflninat pnrtfoa who supply Iahor or matorlels to improva or muintaln 4he proporty. -
<br /> 3.Inn�nnc�. Borrower wlll keep th�property InQUred under term� accepteble to lender at Oorrower'e oxpen:e and for Lender'o 6enefit. All .' —
<br /> tnsurenco policiea shell include a etendard mortgcge cfeuee in fevor of Lender.Lender w(11 be named ae loos payee or ee the(nsurod on eny suci� �.. —
<br /> Insuranco policy.Any Inaurenca proCeede mey be applied,withln Lendor's dlecreUon,to elther tha restoration or ropalr of ths demeped proporty ,.�:,
<br /> or to tho eacured debt. It Lendo�requiree mortgega Insurance,Borrower a�eae to me(ntalq such Inaurenca for es lonp ae Lender raquires. ',
<br /> 4.Prop�vty.Borrowor will keep the property in good condition end meke eU repairo reeaonebly necoanary. . , �
<br /> -,�,q'
<br /> 6.Expen��s.Bcrrower epreae to pay ell Lander's axpeneas.Includinp reasoneble attorn�ya'iees,e4 Borrowor breake any covena�te In thta deed `'`
<br /> of truat or In any oblipntfon zacurcd by thlo dood ot uuo2,Borrotvor vfill pay thoao nmourna to Londor es providad In Covenant 9 04 thia deed o} � , ° ',_„
<br /> truct. •' �
<br /> ,�.
<br /> 8.Prlor Srcurity Int�rsfU.Unleat Dorrower firet obteina Lender'�written conaont,Borrawor will not make or permft any chanAet to nny prior " �"
<br /> eocurity intereste. Borrawer wlll perform ail of Borrower's oblipetlone undor ony prior moetqepe,dood of uuet or othor security aproement, �� �� '��.
<br /> includinp Borrowor's covonente to make payments whon dua. , , ,,�
<br /> 7.A�tipnmsnt of R�nt�and P►oflU. Borrower oealpna to Lendor the rento and proftts of the property.Unless Bo►rower end lender heve agreod VAs
<br /> otherwtse In writinp, Borrower mey collect end reteln the rents eo lonp as Bor►ower Ie not In defauit.If Borrower defaultr,Lender, Landsr's ��*
<br /> agont, or a court eppolnted recelva►meV take posaeaalon nnd manape the properry end coilect tho rente. Any rents Lender collect�nhall be . My;��
<br /> applied first to the coste of managiny tho property, includin court coats and attorneye'feoe, commlesione to rontel egeme, end eny othor _ ;., �
<br /> necessary related expBnees.Tho ramaininp amount of rente w�l thon appiy to paymanta on the oecured debt ae provided in Covenant 1. • ��•:�
<br /> J ,3` .
<br /> 8.L�n�hotdr•Condaminfumr, Plmn�d UNt D�vNopm�nU.,Borrower a rees to compty with the provblon�of any leaae If this deed o4 uust la on . - ___ `-
<br /> n loasohold. I�thle deod of VuBt le on a unit In a condom�nlum or e pQenned unit dovelopm ent,Borrower wlll peAorm all of Dorrowot'e dutlee
<br /> undor the covenanta,bylawt,or reDulotiona of tho condominlum or planned unit dovelopmont. � .�'
<br /> 9.Author�ty of L�ndor to P�rform for Borrow�►. If Borrower fefli to perform eny nf Borrowe�'e duties under thls dead of tru�t, Lender may ,..����� :`
<br /> perform the dutiee or cause them to be performed.Londar mey efpn 9orrower's name or pay an�v amount if necesaery fot performence. It eny
<br /> conatruction on the proporty le dlacontinuod or not carrlad on In e roanonabte manner,Londer mey do whetever Is necatsary to proteot Lander'e • !"
<br /> aecurity Interest in the property.Thla mey Include compi�tipg the eonstruation, . � �~
<br /> . . . - ��
<br /> Lender's feilure to perform will �ot preclude Lender from exercising any of its other d�uqder th�I�w or thla deed of uuot. , ;��—
<br /> AnY amounte peid by Lender to protect Lender'o oecurity Intureat wlll be necured by'fMi deed of trust.Such emounts wlll be due on demand ��`;;:;.��-
<br /> and will bear Interest fvom the dete of the peyment untll paid In full ot tho Interest r�ro In eHa cCon the secured debt.
<br /> 10. D�f�ult �nd Aaa�t�r�Uon. If Borrowor falls to make any paymont whon due or breoki eny covenente under thfa deed of uaat ot any �+;,���'
<br /> oblipatlon oocurod by this deed of hust or am�prior mortgaBO or daed oi truet, Lendor may accoleroto the maturity of the toaured debt And
<br /> demend Immodiate paymont end mey Invoke tho power of saio and any other remediea permfitetl by nppliceble law. --'r,�z�
<br /> 11. Requ�st for NoUc�of O�huit.It le hereby►equeated that coples of tho noticee of defauit end eale be sent to each porson who Ia e party f �-�,� '
<br /> hereto,at the eddrase of eeeh such penan,as aet forth hereln. •
<br /> 12. Power ot Sat�.If the Lendor Invokes the power of aolq,the Truatoe shall firet record In th9 offica of the re�iater of deeda�f each county
<br /> wheroln the truet proparty or some pert or parcal thereof Is oltueted a notice of def�ult�contalnlna the informetion requirad by law.The Trustee
<br /> shatl also mall copioa of the notice of dofault to the 8orrower, to each porsarv who••4.t perry hereto,end to other pereone es prescrlbed by
<br /> applicablo law. Not lesa then one month eftor the Truatee records the notice qt.�etsul��or nvo months If the trust property li not in eny
<br /> Incorporatod city or village end ii uaed in ferming opsratione carried on by the trustor'lfie•�Ffautae sheil glve publio notice of �els to the peraona I • '
<br /> � end fn the mannar preacrlbed bY�apppllaeble lew.Trvate�, without demend on Bot►ower,thel�eell the proparty at publla euctlon ta the higheat �
<br /> bldder, if requlred by the Ferm Homostead Protectlon Act, Truatoe ehali oHer the prope►ty tn two separate naloa ae requlred by appticeble law. �
<br /> Truatee may poatpone eele o}ell or any parcel uf the properry by public announcamant at the tlma and piace of any prevlouily achedulad ealo. � �
<br /> Lendor or ite denignae may purchieo the R�operty at any oate. t �
<br /> �
<br /> �. + �
<br /> Upon rocelpt of paYment of the prlce bid,Truotoe ehail deliver to the purchaser Truetee's dsed co�veying the property.The recitial�contalned in '�� i
<br /> Truatoo's doed ehali be prime fecle evidlenco of the truth of thu statomonts contoinod thoreln.Trustoe sNell apply tho proceede of the aalo In the �� 1�
<br /> following ordor: (e) to ell expenaes of tha salo, Inaluding, but not Ilmitod to, reesonablA.Trustee'B feea, reaaonebte attorney's feea and ; �
<br /> relnatatoment fees;(b) to all tuma secured by thla deed of trust,and(c)the belanco,If any,ta the persona lagelly entitled ta rocaiva It. ,
<br /> 13. Forectosun.At Lendor'e optlon,thie daed of tru4t•mey bo foreclosod In the mennar provldo by eppllcabio law for foroclosure of mortpapna � ,i�F'
<br /> on raal property. . . •- :r.:. - . I . '!�
<br /> 14. in�psotion. Lender mey enter the property to Inap9ct it If�Lendot givea Bonower+ietlCi,be�orehand.Tha notico muat stato the roasonablo I -
<br /> causo for Lender's Inapectlon. : . . -• . ' • � �
<br /> � 16.Condemnetion.Borrowar asal9na to Lendor the rocooda of ony award or clutm for dama�goe connocted with a condomnatlan or other taking � !��
<br /> of all or any part of the proporty.Such proceeds wiP bo appfled as arovidod in Covenant 1.Thla osaignmont is subJoct to iho torms of any prior <
<br /> security agreement. �
<br /> �
<br /> � 18.Wefver.By exercising any remody avallable to Lender, Lender doea not give up any rights to iater use any other remedy.By not exercisinp I r'
<br /> � any romedy upon Borrowor'e default,Londor does not walve any right to lator considor tho ovent a deteult If it happens again. '
<br /> 17. Joint end Severel llebltlty• Co-si�nen; Sucaeuore end Ao�Ipm Bound, All duUes undor this dood of truet nro JolnY and sevoral. Any
<br /> ��• r,
<br /> Borrowor who co•siflna this dood of truat but doe8'rot Co•si8n the underlyIng debt�(netrvmontlsl doos o0 only to prant and convey thet
<br /> Borrowor's Intorost in tho proparly to tho Truotee under,the torme of this deed of trustJneddition,such e Borrower agroee thet tho Lender end
<br /> any othor F3orrowa►under tNe deed o}Vuat mey oxtend,modify or mnke any othor'bhan�e s In tho torme ot thia dood of truat or tho securod
<br /> dobt without that Borrower'9 consent and without roloasing that Borrowor from tho tarma of�,ihie doad of Vuet,
<br /> The dutfes and bonafita of thle doed of trust eholl binA and benefft tho succesaors und ossigns of Londor and Borrower.
<br /> 18.Notice.Unlose otherwise requlred by law,nny notico to Borrower ahall be pivon by delivoring it or by molling It by certlflod mail nddressed to
<br /> Borrowor at tho proForty oddroas or eny other addross that Borrower hne gfvon to londor.Oorrowor wlll pivo ony notico to Lendor by cortified
<br /> � mall to Landor's addrosa on pago 1 of thte deod of truat,or to ony othar nddross which Lund or has deslQnotad.Any othar notico to Londor aholl
<br /> I bo sant to Londor's addross ee ettated on pago 1 of thle dood of trust.
<br /> Any notica shott bo doomod to hevo boon glvon to Borrower or Londer whon glvon In tho menner etatod above.
<br /> 18. Trenafer of th�Prop�rty a e Reneflcl�l Intarsst in•the'6or►ow�r. If all or any pprt ot ihp-proporry or any Intorest in (t Is sold or trens(erred
<br /> without Landor's pr{or written consent, Londor may d�mand immodinto puymeqt of t1�¢�socuud dobt.Lendor may olso domand immodiato
<br /> pnymont If tho Borrowor Is not o nnturol porson anch o bonoftciol intorost In tho �ot�owCc Je told or transtarrod. Howavor, Londor may not
<br /> domand poymont In tho obavo situntions if it is prohibitQd by todorol law aa of tho date Cf thic.dood of t�uat.
<br /> - 20. Reaonvevnnce. Whon tho oblioation socurod bv'this doad ot uust hna baan onl�.end•Londor has nu furthor ublloeilon to tneAo edvancus
<br /> undar tho Instrumonte or oproemonts socurod by thla daod of trust, tho Truatoe sh,.n,upon writtvn roquost by tho Lendor, reconvay tho trust �,
<br /> � propurty.Tho Londar shnll dollvor to tho Borrower,or to Borrower's succosaor in intorost,tho trust dood nnd the noto or athor ovidenco oi tha
<br /> obllpotion so eatiaflod. Borrowqr ehnll pay nny rocordation coete.
<br /> � 21. Suocessor Yrust��. Lendor, ot Londor'o option, moy romovo Trustuo und opDulnt e succossor trueteo by first, meiHnfl a copy of tho
<br /> substitution of truatao as roqufrod by�pplicoblo law,and tlion,by tlling tho substitution of tru stao for rocord in tho offico of tho ragistor of deods
<br /> of each county In which tho truat proporty,or somo part thoroof,Is altuotod.Tho succoasor truetvo,without convoyanco of tho proparty,sholl
<br /> � succood to all tho powor,dutioa,euthorfty ond tltiv of tho Truetoo namod in tho dood ot truet and of any succoseor trustoo.
<br /> � �_• ' , �.. � . .
<br /> I
<br /> ; lpepe?ol Tl
<br /> ' ' - OANKEIIG 6YSTEMS,INC..S7.C10V0,MN E0301 fl•�Op��D713A1'FO�M OCP�MTO-NE OItON1
<br />
|