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<br /> CQVE�JAtJTB �i�'�'� d�Jl.�.b.�� " ..
<br /> ' 1.Peyr�:ent�. Borrowor oproos to malco nll poymonto on tha aocurod doht whon duo. Unloeo Horrowor ar�d Londor nproo othorwi�n, any �
<br /> . �� paymanta Londor rocolvoe hom Oarrowar or for Borrowor'o bonofit will bo nppliod firoY to nny omounto Dorrowor awae on tho eecwod dsbt � --
<br /> •� oxr.tuelvo ol Interost or principal,cacord to Intoroet,and tf,on ta princf�al.II portlnl propaymont a}tho oocurod do6t occurn}or any roaaon,It will �
<br /> not reduca or oxcuso eny s�hedulod peyment until the securod do6t la pold i�full, '
<br /> Z.Cl�Ims Ap�ln�t TIG�. Bprrtiwer wlll pty ell ta���,assoaament�,end other charpes attNbuteble to tho proporty whan duo ard will dofond ti110 �' --
<br /> to the property�pnlnut any q1olmA which,�vould fmpr,ir tho Ilon of thls dood o}truat. Landor mny ropuiro Bonowor to nsolgn nny►Iphte,cla6na or _-
<br /> defenaes which Borrower may hsve apain�t pert�e�who Rupply labor ar meterlalo eo improvo or me�ntatn the property. —
<br /> :i,In�uranco. Borrowor v�ii) kaop tho proporty Inaurod undor torme accoptahlo to LonAov et Borrower's oxponso An� for Londor's bonoflt. /1il 5'.;
<br /> insuranco peiic�oa ohell Ineludo a atnndcrd rt:ort �go clnwo(n tovor of Landna Lendei will be i�ained aa luse peyeo or as the insurod on any auch =-
<br /> inaurence poticy.Any Insurence procoed�mey ge epplled,vuithin Lender'�dlacrotion, to elther the ro�toretion or repelr of the dameped property �
<br /> or to the cecured debt.if Lender requlre�mort�ape Incuranca,Borrower epreei to maintain euch Insu�anco far a8 lonp ae Lnndor requfres. _
<br /> _ 4.Property,Barrower witl koop tho proparty In pood conditlon end make all ropairs roeaonnbly nocosaery.
<br /> i,.
<br /> 6.Exp�nsa. Borrower agrnne to pey all Lendor'o oxpensoa inctudinp reaaonabta attorneys'foos,If Borrower brflaka any covonante In thle doad ;
<br /> of truet ar In pny qblipetion socured by thie deod of trust.�orrower will pay these amounte to Lendor ae providod in Covanont 9 of this dond of
<br /> , truet. .
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<br /> , 6.P�lor S�curity lotuest�.Uninae Borrowar first obtains Londnr'o written coneont, Borrowor will not mnko ar pormit eny changoa to eny prlor
<br /> secu►ity interoats. Borrower will porform nit of Barrower's oblipatlone undsr any prior mortpape, doed of trust or othar cecu►ity egreerrent, --
<br /> inciudinp Borrowor's covenante to muke paymante whon duo.
<br /> 7.Asatynmint of Rmu �nd Profltv.6onowsr asalpne to Londor tho rants and profits of tho proporty.UNoss Borrower and Lender have apreed - � „—
<br /> otherwiaA in writing, Borrower may colloct and rotnin tha rante at long aa Borrower Is not in dofault. If Borrownr defauite, Lendar, Lendor'e �
<br /> ape�t, or e court eppolnted ►eceiver may tnko possoas(on end manuge the prnperty end colloct tho ronta. Any rente lender collect� shall be . =�u Y.;��
<br /> applied (int to tho costa of inenapinp t he property, (ncluding court costs and attoraeys'feea, commlaeiona to rental a9�ent�, end eny other =•—�
<br /> necea�ary related expensea.The romefning emount of rents wfll then apply to paymento on the eecurod debt ea provided In Covenent 1. ,��tvH-��
<br /> �`+ �^'_vaii_:��..,.
<br /> Y.L�a�ohdds•CondomlNumr,Plann�d Unit O�vdanmente.Borrower a reee to anmply v�ith tho provialons ot any toace it thi�desd oP trusQ t�on " �:-a�. �-
<br /> e laacehotd.It this daed of trust is on a unit in a condominfum or a p�enned unit developmant, Borrower will per}orm ali of Borrower's duttea . 5! '_?'►�' '
<br /> . under tha covenante,by-lews,or regulations of the condominium or plennnd unit development. .F..�__
<br /> 9.Authoriry o4 L�nd�r to P�r(orm for Barrow�r. Ii Borrowor fails to�porform any of Borrowor's dutlos undar thie dnod of truat, Londor may ""��+`'=��
<br /> podo�m tha dutins or cnusn tfiom to bo parformod. Lundor mny sipn Bonower's name or pny any omount if neconeary for portormence. If ony ..�;:�,�'
<br /> , constructlon on tho proparty fa discontinued ot not carriod on in e reasonahle menner, Lendar r�oy do�vhatevor le neceeiary to protect Londer'e ��
<br /> soeurity(nterost in the proporty.Thia may includo completing the construction. � ���s�m;pt--._.,
<br /> e.3•V7MlA��'�
<br /> Lendor's failure to perforrn wiN not precludn l.onder from exerciaing any of its othor righta under the lew or thie deed of trust. „;�,T—_
<br /> /Lny amounte paid by Londar ta protect Londor's security intoroat wlll 6o securod by this deed of trust. Such amounte wi�l he due on demend ����
<br /> end will beer interest frorn tho deto of tho paymont until paid In full at the Intero�t roto in effoct an tho eocured deht. `:;�a��
<br /> tU, D�fault md Accd�ratlon. If Borrower faila to maka en ;"-"'��
<br /> obli otion cecured b thia deod of vuat a►an V Peymont whon dus or braaks any covenants under thle deed ot truat or eny -
<br /> 8 Y y prfor mortgage or dood of trust, Lender mey ncceiarate the maturity of the secured dobt end ��--
<br /> demand immediate peymant end mey invoko the powor of salo and any othor remodios permitted by appllcablo law. �
<br /> .���....
<br /> _ _ - 11 R�rn��it 1�r Neftr��d�l�f�idf 1�ie ItP!P�....ays��:y..�:1=�:���.��o A��:io ii'vi=Goo v}uoinuii onu anie no sam io oacn parson wno�a e party
<br /> � fieroto,at the addrese of each such pereon,ss sot foRh herein.
<br /> 12.Pow�r of SN�. If the Lendar invokes tha powor of salo, the Trusteo shall first rocord In tho office ot the replater of deed�of each county �''��,
<br /> wherein the trust property or somo part or parcol theroof la situatod a notice of default conteining the tnformatlon raqulred by lew.The Truatee �
<br /> shall aiso mail copiea of the notice of dofautt to tho Borrower, to aech person who ia a perty fiereto, and to othu►persons ae prescribed by
<br /> applicable law. Not lass than ono month nfter the Trustoe recorda the notice of defautt,or two months if the trust property ia not in any
<br /> incorporated city or villege end is used in farminp operations cerried on by the truetor,tho Trustee shall give public notice of eale to the persona '
<br /> and in tho mannor preacribod by appplicabto law.Trustae,without demand on Barrowor, shell sell tho property at publia auction to the hlghost `
<br /> , bldder.If�equirod by the Perm Homestead Protoction ACt,Truetee ehali offer the proporty in two seporate salea ae requ(red 6y pppiica6le law.
<br /> Truetee inay postpona sale of all or any parcel of the proporty by public announcomant at tho time and place of any previously scheduled�ale.
<br /> Lender or ite deelgnee may purchase the property et eny selo. �,. ,�*
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<br /> Upon receipt of paymont of tho prico bid,Trustoa ahali dolivor to tho purchnser Truatee's deed conveying the property.The recitiala contatned in +�'
<br /> T►uetao'a deed shall bo primn tacio ovidionco of tho truth of tho statomenta conteined thoroin.Trustee shall apply the proCeada of the eale in th0 �' •;�•
<br /> follawing order: le) to all expensoa of tho salo, including, but not limtted to, roasonable Truatee's foos, reasonabte attarnoy's foos und :�
<br /> refniLetemont feos;(bl to all sume socured by this daed of trust,nnd(c)tho bnlonce,if any,to the persona Iegally ontitlnd to receivo it. _ + •
<br /> 13.Fot�clotw�.At I.onder'F opNon,this doed of truat may bo foroclosed in the manner provide by applicablo Inw for}oroClosure of mortgagee ��+���.��
<br /> an reai propercy. � �
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<br /> 14.Intpeotion. Lendor may onter the proporty to inspect it If Lendor givos Borrower notice beforohand. The notice must state the reasonabto '=�� ••'^` •
<br /> cause for Londer's inspoction.
<br /> 16.Condsnmetlon.Borrowor oasigns to Londer the praceeds of any award or claim for dameges connacted with a condomnntion or other taking �
<br /> of all or any part of tha proporty.Such procaeda will bo appifod ec provided In Covonant i.7hia assignmctnt is subjoct to tho torms of any prior " '
<br /> socurity adraement. �
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<br /> 10�Wdv�r�By oxorclsing eny romedy avafiable to Lendor,Lendor does not pivo up any rights to latvr uso Any other romody. By not oxercising ' � r�
<br /> any remedy upon Borrower's default,Londer does not waive any right to later consider the evunt a defauit if it happons aguin. M' C.-"
<br /> •w.
<br /> 17.Joint �nd S�va�t Liabillty;Co•aipne►s; Successon and A�signt Bound. All dutioe under this dood oi truat are �oint and several. Any � ��
<br /> Dorrowor who co-signs this doad of tru8t but doos not co•sign thn undorlying debt instrumentls) doos so only ta grant nnd convoy that �
<br /> Borrowor's intoroat in the proporty to tho Trustee undor tho torms of this dood of trust.In nddition,such a Borrowor egreea that the Londor and
<br /> any othor Borrowor under this dood of trust may oxtond, modifv or mnKO nny othor chanflas in the torme of th(s dood of trust or tho securod '
<br /> debt without that Borrowor's consont end without roloosing thot gorrowor irom tho torms of this dnod of trust.
<br /> , Tha dutios end 6enefite of this deod of trust shall bind and bonofit tho succossors and aesigna of Lendor nnd Borrower.
<br /> . 18.NoUe�.Unloss othorwiso roquirad by law,any notfce to Borrower shnll bo piven by dolivaring It or by mail(na it by certifiod muil addrossed to
<br /> • Bo►rowor et the proporty addresa o►eny othor addross that Borrowor has given to Lender. 8orrowor wili givo any notica to Londer by cortifiod
<br /> mail to Lender's eddroas on pago 1 of tfiis dood of trust,or to any othor nddrees which lendor hns dosignnted.Any other notico to Lender shall
<br /> I ba eont to Londor's address ae steted on pago 1 ot thia deod of trust.
<br /> Any notico shnit bo deamod to hova boon pivon to Borrowor or Londor whon givon in tha mannor stotod above.
<br /> 18.Tranafer of the Property vr e BertaHclal Intereat fn the[iorrower.If all or any pnrt of the property or nny intorost in it is sold or transferred
<br /> without Lendor's prior written co�sent, Londor may domend immodiate payment of tho socurad dobt. Londor may also demand imrnedioto
<br /> , paymont if tho Bortowor is not n nnturul person nnd a bonoficiul intnrost in tha Bo�rower ic sold or transferrad. Howavor, Lendor may not
<br /> domond peymont In thn abovo situntions ii it is prohibitod by fodorai law ae of the �eto of this doad of trust.
<br /> , 20.Reconveyence. Whon tho obligation socurod hy this dood oi trust has boen paid, and Londor has no furthe� obliflntion to makn advancos
<br /> undor tho insirumunts or aaropmonts socurod by this dood of truat,tho Trustoe shall, upon writton roqiiest by tha Londor, roconvoy the trust
<br /> proporty.Tho Londor shall dnlfvor to thu Borrowor.or to Borrowor's succossor in intorost, tho trust doud and tho noto or othor ovidoncn of thE�
<br /> --. nhlinatinn an eaNef3m1 M..nu.e..ti..0.....�.....�..,...�'.:__ "'"" '
<br /> .._'_•- ._ �_"_.._"_.._..'_'__""'_' "..�...�...�....�...w...a•.vn waaa.
<br /> 21.Successor Truatee. Londor, ot Londor's option, may ramovo Trustoo and uppoint a succossor trustoo by ffrst, muiling n copy of tho
<br /> subatitution of Lruotoa as roquirod by applicablo law,and thnn,by filinp tho subatitutiort of trustoo tor rncord fn tho ofiico of tho royistor of doods
<br /> of oACh County In which the trust propnrty,or some part thoreof, is situnted.Tho succassor trustoo, without conveyanco of the proporty,sholl
<br /> succood to oll t?to power, dutios,euthority and titla of tho Trustoo name�in tho doed ot irust nnd of uny succossor trustoa.
<br /> �pnpe 2 ot 2l
<br /> ' . O�NKEIIG 6YSTf4S.INC..ST.CLOVJ.MN 60301 11•80049TI7611 FORM OCP�MTG NE 6r19/91
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