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<br /> � • coven�a�Te � � ° ;;� �
<br /> 4. Pe,:::�;�i�. fla.rr,t�lcr r.Dtcca to mnlco eU p�ymen*.0 on 4ha necured dnbt ��hon duo. UNe��I fl:sT�lci ond�nil���'�ti�������Q, e�V i
<br /> peymante Lar�der rae¢Ivoe from I3otrowar nr lor �crro��er's banefit�illl ba eppliod firct to any un�ounto l3orroucr oti•roo on tho cr,curcd do6t •� _
<br /> exc+ualve of intera�t o►princlpnl,�000nd to IntereAt,end then to princlael.If pertlaf prepaymant o}tho eocurod debt occuto tor nny roeaon,It�lill � y,�
<br /> not rqdUc�or�xcuKe�ny�ch�duled pnym�n2 un1I1 ih�sccured debt I�pald In fuil. . ', --
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<br /> 2.CiaMn�ApNn�t Tid�.Borrow�r will p�y dl t�xe�,nsutm�nt�,and other cherpe�rttriqutsble to the property whan due snd w�ll detend titlo 4, ;:
<br /> ' � to the propottV��9ainsE�ny cl�im�which woutd impalr the Ilen of thl�deed o1 truat.lender mey requ�re Borrower to ontipn eny riphte,cielme or : .p
<br /> � d�ten�e�which Rorrowa m�y h�vo ap�in�t partle�who�uppiy I�bar or m�terl�t�to imprave or m�Int�in ths p�oporty. :' �
<br /> ' 3. In�w�ne�. Bortowcr will keep the property Insured undor term�accepteblo to l.ender at 8orrower'e expsnae end for Lender'�b��efit. All �'� . '�
<br /> inrurrnce pollcloo�h:Sl ina�uclo a nt�nr3.tci o�arYy^po cicusa lii favar ot LcnQ�r.Lcndet�flll ba n^m�d cs Ins�p�YPe m ae rhe Inaure�!on am�auch ;:; � _
<br /> Inour�na policy.Any Insurenc�p�oa�ds m�y b��uali�d,withln L�nd�r'�dllcretlUn,to etther 4ho reotorstion or repair of thr dfmapad proparty �;.
<br /> �} . ":� or to th�ucured daUt.It L�ndv requk�s mortfl�y�Ineurance,Barrowsr aQreai to maint�in�uch fnwrence far as long a Lendu requtrai. :±
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<br /> _�h"�,,�;.,�:� 4,Pra{�ty.Borrower will kaep the propertV in pood condition�nd meke ell repairo roetonably neceseary. ;j ',
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<br /> 6.Expe+n�a.Borrowe�eprass to pay sll Lender's expeneae,inctudinp rqeeom6le ettarneya'tes�,If Borrower breeke any tovenants In thlo deed
<br /> ot truet or In eny adliflatlon aecured by thif detd of truat.Borrowe►wfll pay these emount�to Lender ee provlded In Covenont 9 of thi�deed ot � .
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<br /> ' g,pdpr$�cutity IMer��t�.Uniess Borrpwer flrot obielna Lender's written consent, Borrower will not make or psrmft any ch3nge3 to eny prinr � ,. ° ._
<br /> tecurity (nt�rett�. Borrowu will par(orm all of �orrower's oGligat+ons undar any prior mortp�ge, dead o} truet or other eecurity aUroeme�t,
<br /> _ � �� Inclwlinp B�rrowsYs coventrrts to mske payrnents when duo. •
<br /> 7.As O}RMU Y�Id PfG}k/.Borrowar assipns to Landar the rente and profite af the property.Unloss Borrower end Lendnr hevo agread � �. �
<br /> - othe�w�e In writinp, Borrower may collect and retein the rentn es loig as Borrower ia nut In defauit. I}Borrower defauita,Lentler, Lender'e �
<br /> � �pent,or�sourt sppofnted recelver may teke poseeasion and manega the proparty end coliact the renu. Any rents lender collacte ehsll be ,���<�_
<br /> .,� ' �pplt�d 11nt to tM co�ts of manapin�the prope►ty, includinq court costs end attarnnys'}BbA, commis�iona to rental epente, end a�y other ���M.{._
<br /> - � necensry rslated expenia�.The rom�ininp emaunt ot rents will then eppiy to psyments on the sacured debt es provided in Covmant 1. i, .�4"'`
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<br /> g,�e;;z,`-„�•C�ti..^^.°.r_'�.rsr�:F!-"esr_d U�S de:r!^_r.^^.�±!e.F}orrower eCreas to compIy wtth the provislons of any tease if thic desd of trust Is on , ._
<br /> -- e leaaehold. II thls dsud o}trust la on a wiit In a condomintum or a Qlanned unit development,Barrower wiil porform all ot Borrower's duties •,� ,�; _
<br /> ' under the covenant�,by-lawo,or repulations ot the condominium or pianned unit dovelopmsnt. ',; .�y--'_�"`�
<br /> a� 9. Authotity o}L�nd�r to P�riam ta Barrowa. it Borrowe�faits to perform any of Borrovror'a dutlea under tfiis deed of truat, Lerxior m�y '!�� ,�;
<br />- - ' � pertorm the dutlas or caueo them to 6e pertormsd.Lender may slgn 8orrower's name or pay any amount(f necessery tor pertotmenae.If any � , :��,�`—
<br /> ' construction on thep�operty is di:conUnuea or not cerried on fn e reason�bla maaner,Lender m�y do whatevor la necesaary to prqtect LenAer'e y,,,;.��
<br /> ' � •• security Interoat in t6e prope►ty.Thb may tnclude compleU�g the r.onstructian. •� �-;�,,,;.
<br /> � Landnr's failure to ps!form wiil not pmclude Lender from exercisiog any of iU other riahu under the Iaw or this dead of Vust. „�.,�,.y,,�_�=, _
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<br /> ��� Any emounts aid b Lender to protect Lendef's securi interest wiil be sec�red by thls deed of trust. Such amounts wlll bo duo on demsnd
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<br /> , end will bear interest trom the date of the payment unril paid In full at the I�terest rate in eftect on the secured deht. �� •-;
<br /> • 10. D�fwNt �nd Acc�l�►at{om If Borrower fails to make a�i payment when due or breaks ar. covenmte undei thia deed of trunt or any �'_ `'i `'
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<br /> ohlipation secured by thia deed of truat or eny prior morteape oi deed of wst, Lendet may eccelente the maturity oi the secured de6t anA �rr��;�-.��-
<br /> • �� dema n d imme d iste paymen t an d may invo ke t h e power o f s a l e a n d a n y o t h o r r e m e d i e s p a r m i t t e d b y e p pli cabte law. ' ;{'
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<br /> . . . _ � �'i..a• �•�__•_ �••'io"'oo,ov 2li.:',.."O••s••� C�'.ti^..."^•.:5�01�91Ltl.1�P!`.�eu�s hp cwnr rn each nereon who is a PartY E'e�i,�rl=��t�'`..
<br /> � 1 1.�1�QYR[t0��w�v�.�vi ��w�. a o �ciov� yu �..vo
<br /> heroto,at ttte eddress ot eech such peraon,es aet forth heroin.
<br /> ' 12.Poww of Sai�.If the Lender tneokes 4he power of sete,the Trustee shall ftrst record tn L�e office of the rogister of de�ds o}o�ch county ��:',� �
<br /> � wheroi�the Vust property or some part or parcel thereof is situtted a notice of defeutt contni:ing tha informetion required hy Iow.The Trustee +,�..�: .
<br /> shall etao rnail coplos of tM notice of defauit to the Borrower,to oach peraon who la a�:�y hereto, and to other penans ss prescrlbW by ;���
<br /> ' �ppilcebla I�w. Not less than one month after the Truatae recorda the notice of defauit,cr two montha (f tha trust praperty la not In any ;;,
<br /> Incorponted cIry or viilege and la used in fuming operations carried on by the uustor,the Truatee shall pivo�ublic notic�of eds to the p�rsona.
<br /> end In tlw m�nner prascribed by�apppiicable bw.Trustea,without demend on Borrower,sheil sall the proaaTty at public�uction to the hipha�i '��. .�.
<br /> bidder.If roquSred by ttro Farm Nocnestead Proteciion Act,Trustae shall oNer the property in two separato Fu1es�s requked by�pp�k:�6�e�aw. r
<br /> Truste�may postpone caU of all ar any psrcel of the pruperty by pubUc announcemnnt at Lho t!me and placo of eny pravlously scMdulM��k� ����� ., '.
<br /> Lendor or its desiflneo may purchase the proper[y at any eale. .,i.,',`, '
<br /> Upon recelpt of payment of the price bld,Trustae shall delivor to the purchaser Trusteo's c1:od conveylng the property.Tho�ncitiais cont�insd In. ���-
<br /> � Trustao's daod shall be prima fnclo avidianco af Cho truth of the statements contdined thareiu.TrU9toe et'ail apply the proceede of the eale In thn }*-^N���
<br /> followtng order: (a) to all expensea of the s2:s, Including, but not limited to, reasor.ablo Trustae's feo�, raasonable ettorney's faea and � -� �v
<br /> roinstetAment faes;(b)to eil sums securod by tA?s deed of trust,and(c)tho babn�nce,If any,ta ihe pevsons lognlly entitled to roceive It. i •�}�`�
<br /> 13.Fanelown.At Lender's optfon,this deed of trus4 may be foreclosod in the menner prvvide by appHcabto law for forecloiure of mortya�aii 'a:, ; �, �f ,,._ �—
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<br /> on roal property. ; � � '� x„�e�,-
<br /> ' - . lA.tnsp�cdon.Lender may enter the propercy to inspect it if Lendev gives Borrowor notice bo4orehand.Tho noticc+muat atoto tho roaaonahlo C`F`?
<br /> _ ., causu tor Lender's inspectlon. . ��W,�ya.+ -. .:��
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<br /> 16.ConderxNUon.Borrowar asslg�ns to lender 4he proceeds of any award or claim tar dama(1es connouted with e r,ondemnatlon or othov taklnQ :•�"�` . `
<br /> of atl or eny pert of the property.Such proceod�wili be applled aa providcsd In Covenent i.This nsslgnmerrt es aub�eCt to the Eerms of eny prlor ; , '
<br />� � socurlty epreement. j� +��, �-_
<br /> t" j�{�, 10.WNvw. By exercising any romaoy available to Lender, Lender does not dive up eny righis to later use anV othor remeoy.E3y not oxerc{slnp •1J� •���f: �
<br /> • '?' any remedy upon Barrower s d9fnuft,Lendor does not we(ve any right to later consfder the ovent a defeult if(t happens egaln. ;��f '�'��
<br /> - 1�. Jdnt u�d Sev�ral UabilitY• Co•sipnea: Succ�ison and Aulpns Bound. All dutfos under this doad of trust are �oint and several. Any �` '��"''
<br /> ° Borrower who cn•sfgns thia �eod of trust mut does not co•sign tha underSying debt i�strument(s) daos �o only to grunt and conveY tnet " _:
<br /> - Borrower's tnte*ast in the property to tho Trustae under the torms of this deea of truet.In additlon,such o 13orrowor ugroes thet tha Lancior and •
<br /> any other Borrower under this deed of Vust may extend, modifv or make eny other chanqoa in tho terme of this doed of trust or tho sosurad ,
<br /> � do8t wYthout that Ba�rower's cansent and witAout releasing thnZ�orrower from the terms of this doed of truet. I l:f�
<br /> Ttie dutles and bennfita of this doed of trust sNati bind and lseno4it tho succossors and assiQns o4 Lender ond Borrowor, i �;
<br /> :� 18.Notle�.Unless otherwise required by law,any notico to Borrower shell be given by delivering it or by mniiing it by certifiod mail oddressud to �•;�
<br /> � Borrorver at tiie prop erty eddress or any otker addresa that Borrawor has givan to Londer.Borrower w�il Qivo nny notice t�Londor by cortifiod •
<br /> _ � mall to Lander's addreas on pafle 9 of th(s dc�od ot truat,or to any other address vchich Landar has dasigna4od.Any othor�otico m Londor shnll
<br /> , be sent to Lcnder's address es stated on page 1 of this deed ot trust. '. ,
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<br /> - ' Any notice shalt be deemed to r3vo beon g{ven to Borrower or lander wl�en given in tho monrter etatad ebovo.
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<br /> 19.Trrufst of t!H Ptc�ty or�B�ftctal InMrnt tn th�Borrowv. I}atl or eny part of the property or any interest In It la sold or tronsfarrud �
<br />- � without Lender'E pr(or writter consont, Lender mey d�mand Immedlate payment of the securod debt. Lender mey elso demand Imme3late ,
<br /> �. paymont if tRe d�rrower Is not e naturel person end n 6eneficioi[nterest in th9 Borrowor is sold or transferrad. 4lawovor, Lender mery not
<br /> c4smand paymc^t in the ebovo situations if it i�prohibited by iederal law os ot tho dato of this doad of trust. ,
<br /> - '� 'c�U,R�conv�yanc�•When the obligation secured by this doed of trust haa heen pafd, end Londer has no turther obllgation to moko odvancos �
<br /> - •.•1'� �c:der the Instrumente or ugreemonts securod by thls daed of Vust, tha 7rustoo ehall, upan written requost by tho Londer,roconvoy tho trust
<br /> - , - [ pro�erty.The L_ende�shall delivet to tho Borcower,or to Borrowar'a succassor in intorost,tha trust doad ond tho nota or othar avidonco of tho '
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<br /> 27. &ucc�ssor TrustN. Londer, at Londer's optinn, may romovo 'frustaa and appoint n succnssor trustoo by firat, mofling o copy of tho
<br /> - " cu�stitutlon of trustcse es required by epp{icable law,and then,b filinQ tho substitutton of tr�stoo tor rocord fn tho offico of tho roafstor of doods
<br /> � � o!eech county tn which the tr�st prope►ty,or somo part thereo,i�s�tuatad.Tho succossor trustoo,without convoyenco ot tho proporty, shnll
<br /> - succeed to all the power,dutiea,nutharity and titie of the Trustoe namod in the deod of trust and of any succoss�or tru�tee.
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<br /> � �• � BANKfR56Y5'fMS.IKC..5T.ClODU.MN 68�01 It-0W-0B7•18411 FOHM 000.MTGHE E/1Bl31 ____
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