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<br /> � .,.,• '., COVE7VAN7E �,v
<br /> , � ���� ������
<br /> 1. pc�.-.,_:t�. �nrro�:r.r r.t!reea to rn;dco r,ll p�yiti�nta on tha cocure.d d�ht �vtian duo. Unles� V3orrov�er and LonAOC a�rco othenvino, any ��
<br />, .,,, peyrnentd Lender roeolvu3 frum Rorro�vor or 1or [3orrowr.r'o bon�fit v�ill bo npnllcd flrot to nny amounYO Uorro+;.cr oe+;s an tho �ueured ct;At
<br /> _��_� exelueiva of interest or prin�tpal,setond to intarr.st,and than to prMcipal.If partlel propaym6nt ot the oecured debt occvre}or nny roaaon,it will �
<br /> not reduce or Axcuse or.y t�h�ed p�yment untfl the��curid debt IR pald Irt(ull. S
<br /> �rt�., . ` _
<br /> ,�, �M Z.CInIm�A�ut Tkl�.Barrower wf8 p�Y NI t�xe�,�ee��im�nts,end othu chorpee ettributoqln to the property when due end wltl defend tltte �
<br /> � to ths aoWrty�aalnxt any�nimt whp(ch w p Id imp�tr tts�Ii�'�r�r or miteriila to m�rav ur nioltaln�ttie�propertyaeelfln any riphte,cleim�or I - �
<br /> —="�"".,. d�f�na�s which Borrov�»r m. hw�r ahut artl�a.whc�RuPq Y p � =�`=?
<br />" � A��'�� 3. �iwrsnr.�. Horrower will ke�p the pro►w►ty Insured under terms�cceptabla to Lender et Borrower'e expense and for LenJnr'e bme8t. All I � , ':'i"' __
<br /> -;���X�•y,��,�� in�urir�c�po�icier RNnll h�c{ud���iond�rd mort9aQa�lau:e(n f;:v;.r o!Lcn�:.r.Lcndcr wUl b�ncmcd o�los�p:+ynn or ee the FnaureA an eny tuch I. :__-
<br /> '�e���,.. Insur�nc�policy.bny tnsuranc�proc�1ed�may t»a pfied,witA�n L�nder'�dl�cntlqn,ta elther th�n�toration or npair of ths damaped propnrty ,,,
<br /> -•-�-��+, or to ttie�ecured debt.!4 Landsr raqulres mortg�Ue Pn�cr�ncs,Borrow�r�gr��s to malntaln such Intutanc�fo���lony�s:�nd�r requires. , �.I'�i�yr,`�
<br /> '�.y= �.PtopKty.Borrow�r will ke�p the prapeny!n p4od conditlon and makr alt rep�lrs rea�onably neceaaary. '� '' .
<br /> -�~ 8.Exp�nuo.Bottern�er a�ree�to pey ell Lender's expensei,Inr,ludinQ reaaoneble ettorney�'4eee,if Borrower breako any cov�nnnUS�n thls desd " .. ';�`
<br />��y��t:: �'��` at trust qr In any o611getion aec�red by thil deed oi trust.[iarrower will p�y theeo emcunte to Lender ea provlded In Covnnrtnt 9 af thie AeAd of � , ,
<br /> •'���';G_'._i-' trutt� -
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<br /> '�•:�:;y�1�":''�+ B.Pdor S�curity Intwut�.Untess Borrawer firet obtains lender'e wdtten conaent, Borrowor will not make or psrm8�nY ahmi8en ta eny prin► , _
<br /> -- `' ' secur(ty intero�te. eorrawrr will perform ell of BorroweYa oblipatlons under any prlor mortgage, deed of trust or othar oecunty agremm�nt, .:,�;
<br /> .,t�,_ ; � includinq Borrower'e covens�nta to make p�yments when due. ���
<br /> �-- � f i. 1 �� • � h�y.• 'l
<br /> r �' 7.A��t of R�nu�nd P�roftb.Borrowar esaipna to Lander the rdnte and profit�of the ro orty.Unless Borrower and Lnndnr hsve Qarend �A� _
<br /> -�; .r�� ..:�, . P. P `� °: `;"
<br />_��,5.,,;,��,1�••;�• othe r w r s e i n w r l t i np, B o r ro w e r m ay c o l l e c t a n d r e t a l n t h e ro n t e e a l o n p e e B o r r o w e r l a n o t in defauit. I(Borrowor dafaulte, Londer, I�nder's �•r�� ,
<br /> -- <�,.a, epent,or s court�ppolnted receiver may teke posaeasion end manage the property end colloct�tha rents. Any ronts Lender collects shnp be �. "`�a ,,, *°:''_
<br /> �' _-����iA �pplied tint ta the cotte of msn8pin�the property, tncludin court costs end attarneys' fees, eommiasions to rentsl agente, and Rny athar � .'� '
<br /> nscusKy retat�d expun��s.The rsmalninp amount of ro�t�wRl then apply to paymente on tM secur�d deht ee provided in Covenant Y. 5� �`= `;_��-
<br /> "`rii,W� +�IG'��.��.�
<br /> -°-_i�:�� �,L�::�;,c'��;CC;r,��;,:..;PI_-:��Unit�ve!cr!er_!!te.B Qtf OWOI���ABa to comply with the provlslons of eny lease if this debd ot truat la an
<br /> ��� � s lm:ehold.If thls deed of trust fe on �unit In e condominfum or e pYannad unit development, Borrower will perform all of�orrower's dutiea ""�`-��l
<br /> : d}J-: . '--w�-.��.a-..
<br /> � ++ri�+� under t1►�coven�nts,by-I�w�, or repulatlons af the wndominium or planned unit deve�topment. �==�='"''"
<br /> w�4�/'��ti�.,.>
<br />- ' " 9. AUN10t�ht O�I.�11dM[O PM'�Wfil TOf 80110NfH. If Borrawor Ieits to�perform ony o} Borrower's dutles under thia deo�of truat, Lender mey �T''��-��"�''—
<br /> = pertorm the dutina or cauae them to be performed.Lendnr moy ei�n Borrowar'o name nr ay eny amount if necessery}or performence.If snV •. „5„'��;;�� -
<br /> -z"':�cr; constructbn on thepropert}r Is discontinwd or nat carried on in o rea:ona6te manner,Len�er may do whatAVer 13 necessery to protect Londar's �'��� _
<br /> p't'.-.:1E �,:*'i:ti=
<br /> x. security intorest In tho property.Thia mey include Comptetinp tha construction. - • • :.,,.-�� .
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<br /> ''• ;�,;;� . Leader'a failure to pnrtorm will not proc!udo Lender irom oxercising any of ite othar rigMs undur�che law or this daod of trusL �,� ti; -
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<br /> _ ��,T, Any emounts pafd by Lendur tv�protect Lendm's security interost will be secured 6y this dned of trust. Such amounta wiii 6o due on demend �;i�` F.
<br /> • entl will beu interost from tAe daie of the paymont until pald i�o full at the interoet rate in effect on the securad deb4. ��j'���' !
<br /> , �'� .;��:�' `�.+
<br /> ` ' •;�Y., 10. D�fault�d lAse��Non. If 8orrower fails to make any payment when duo or breaks any covenenta under this deed of trost or any �
<br /> •�=,� ", •� � oblig�tion securod by thie deed ot truet or eny prio►mortgage or deed of trust, Lender may eccelerate the maturity of tho securad debt and .
<br /> demmd Immedi�te payrnent end myy Invoke the pawer of saie end any other remediea parmftted by eppltcubte law. ���;��
<br /> . •'•;,-,.Y
<br /> - '.,�.�-c' 7 7.R!Q{NOI iOf OOYG�i7i�fi�iwi.ii io i�Biouji i6yUv�ou 2�SB2 W�7i�C C�Qr�^9«�9 n�d�f���H orul mla hn aanr to each neteon who le a PertY .....� -
<br /> hereto,at the eddd�es�of aech Fuch perROn,ae set forth heretn. �'+
<br /> . ptt.;'
<br /> ;`i;� 72,Pow.n ot SaW�.If the Lendar(nvokes the power of eale,the Trustee sho:f tirct record in the office of the register of daeds of each onunty ,
<br /> �aMretn the trust�operty or some part or percel thoreu4 is situated e notiea of dafeutt containiny the intormstion raquired by law.The Trustaa -,
<br />'- � , ah�lf atao mafl co laa of the notice of defauft to the Borrower, to each person who la a party hereto, and to othar pereona ae prescribed by �. �.,J
<br />;;.:ti�r„c�'.fiv'�:. � epplicabi�law.Not lete than one month after the 7rustee rocorda the notics of detauit, or two montha if the Vust property Is not in any . �t>
<br /> '�,�;�•a�r��?..•., • incorporntsd city or villape md la used hi}arming operationa cerrled on by the trustor,the Trustae shall give pudiic notice of sele to the percuns `�.�
<br />: y���. : ;�, snd in tha manner pra�cnbed by�aqpplicebia law.7rustee,without demand on Borro�ver,shali soll the properly at pubiic euctlon ta tha highest 4. `.:'�..
<br /> �:t:�y`K�F?�s;,� bidder. If rsqulred by the Ferm Momestoad Protection Ac4,Trustee shall ofter the�ao{terty in two soperate setea ea required by applic+�bte law. �?� ,;!'�.^ • r'`
<br /> _ ,�,., . i'ruitee may pastpoM a�to of ell or any parcul of the property by public ennouncement et the time and place of eny previously scheduied sele. �;.�,R �•
<br /> '�?s:%�''`i:'''�'"i'�:-"" Lender ar ite desk�nea mey purchese the proporty at eny eete. � "' '
<br />,. ,����--�,;��:K�:�..�:. . ��.+.;
<br /> �}��• Upon ncNGt of paym�rot of the price bid,Truateo shall delivnr[a the purchasor Trustee'a deed conveyinfl the pro�erty.The recitials contatned in ; �':'`"°�' �
<br /> �z':i�,
<br /> .:��:;:,.., Tsustee's deed ehall be ima lacie evidience ot the uuth of tt:a etetomentc contained theroin.Trustee shaii appiy tho proceede o}the sale in th� �i{
<br />- 1.� � tallowln� wder: (a) to ell expemes o}the aele, including, i�ut n�t i�mited to, reasonebte Trustee's feea, reasonabte nttorney's feoa end � �i'f+!� .
<br /> - ' .�fi:•y rainrilatemnnt tonc,(b1 to all sumo sacured by this doad of tr�nt,and(cl tho belence,if eny,ta tSia porsons Iopaliy antitlad[�recelve it. � ,�• ��. �r:
<br /> =-'�`"�'�"�J� 13.For�efown.d1t Londer'e optfon,this Aeed of truat moy bo foraclosed in the manner provide by opplicable law for torectosure of mortgeges 'r.
<br /> Y.._:_.'::;,.'t'� ��;��;
<br />_ �_�+.,�,� onrealprope►N• ::� _ .
<br />:�n�-F:T1•t'"�r* j � l'� �
<br />-`-•-°--•�-�T., 14.Ins�cdon.londer may enter the proporty to Inspect it If Londor givos Borrowor notico bo(orohnnd.Tho notico musi steto tho roasonnblo
<br />-��-^�;•�� cau�e for Lender's Inspection.
<br /> ?�YR?^�,:',. :,'„ � ,,
<br /> ,;```}��:;. �- 16.CovrdNnn�ltoo.Borrower ussigns to Lender the roceeds o4 any nwerd or clnim for dama es connectcrd with a condemnntian or other takinp .. .
<br /> of ell or any part at the property.Such proceeds wiP be oppllod as provided in Covenant 1. �i9 assignment lo subJoct to the terma of any prior �`,.,- . ,• j.
<br /> : . ,. security aprooment. ' �
<br />..,'.�`,....: . . . y... .,i:,t,:. .
<br />-_,.,�, ����,��, 18.W�ItvK.By exercising eny remodV eveilablo to Londor, Lendor doos not give up any rlghts to lator uso any othor remedy.By not exorcising `�f,�};:,'
<br /> - any remedy upon 8arrowes'e defautt.Lender does not waiva eny riflht to latar canside►tha ovent a default if it happens again.
<br /> �;1��. .�� 17.Jotnt�nd Sw�r� Ll�bility; Co•dpMrs; Succ�aon snd Aaalyns Bound. AII dutios undor thls doad of trust oro joint and soveral, Any
<br /> � .' '�°��• 'x BorNwer who co•sf�ns this deod ot trust but does not co•sign the undarlying debt fnstrumontls) does so only to �rant and convoy that
<br />_�T�n:,�'� Borrower's Interoet in the proporty to tho Trustae under tho terma of thia deed of trust.In addiilon,such o Borrowor npreos thet tho Lendor and
<br /> ��_ •���-1�r ' any otAer Borrower under thFa tleed¢f Vust moy extend,modify or mo ko eny ot her c hengoe in t lie terms of this deed of trust or tho securod
<br /> ,•;y,._� � debt without thot$ormwor'a consant and without releosfng that 6orrowor from the torms of this deed ot tru�t.
<br /> ` ''�= "'•:� ` Tlw dutiee end bonefitn of thfs deed of trust shall bind and benotlt tho succassore and ussigns af Landar ond Borcowar.
<br /> • � - ��,=fjp 10.Notk�.Uniess otherwise requ�rad by luw,any notice to Borrower shn0 be pivon by deUvodng it or by motling it by canitiod mail nddrossad to
<br /> ' "=�z"'..' Botrower at the property addraoa ut eny othar addresa that 8orrowar hoe 0ivon to Londer. Borrowor wEll plvo any notico to Lendar by cortifiod ;.,. .
<br />- : '". " �.°�.f � m�ll to Lender's addresa on pbgo 1 of thlc daed of truat,or to any other oddross whlch Londer hae deslpnated.Any othor notico to Ltnder shall � .
<br /> �•i . • be�ent to Lendor's eddreYa aa etated on page 1 ot thla doad of trust. � .
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<br /> •' L Any�wtico ah�d be deemed ta heve been givo�ca Borrower or Lender when glven In the menner eteted ebovo. i
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<br /> 19.Tr�uh►of tM P�op�rty w�B�flcld Irrt�rett tn tM BorrowN.It nll or eny part ot the propnrtv or nny interost in It fs sold or trunsioraed �
<br /> witlmut l.ertder'e (�rlor wtitten corvsent,Lender may demanA Immcdlate paymeM of the secured dobt. Londor mey olso demand Immndletu I
<br /> peyment I}the Borroww t�nat a naturel Aersun end a bonvficlal Interest fn the Borrower le sutd or transterrod. However, Lendcr mey not �
<br /> �� �� �.'� demand payment In tho elwvs situatlone If Ii la prohlbited bd federel law as of tho dete of thls deed oi trust.
<br /> `�`_�.+-• -..,'�` 20.R�conwysnc�.When tt�e oblleation socurod by thls dood of truat haa been pa!d, nnd Londer hus no furthur oblfgation to make udvancos �
<br />�..`-+_h� under tM tnstrumente or agraementa securod by thls doed of trust, tho Trustpo shall, upon wrltton rnquo�t by tha Landor, roconvoy th2 trust ,
<br />�'��.___,,,. .. pro.porty.Th�I.ondor sf�ell dellver ta tha Uottovior,or to Borrowor's succassar In intorost, tho trust doad and tho noto or nthor ovidartce o;`tho
<br /> .-�:.r,... . _;•Y�� wl�ii0�6v e�trsiew.oviio�im oi.nn poj mij ivv uow.-.w o. -_�---. ' . � .
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<br />�:,:,;;,�r;,a•�� � 2L 6uccs��a Tru�tw. Lendor, nt Lendor's optlon, may romovo Trustao and appolnt a euccos5or trustoa by first, mailfnp a copy of tha
<br /> �••�•• � subotitutlan of truatee aa roQUlrocl bv eppllcnble luw,und ttion,by filing tho substitutlon of trustoo tor rocord tn tho offico 04 tho ro�fstsr of doods
<br /> - •�9''+-�•� Of oaCh County In whlch the Vu6t propo+ry. or como part thoroot, is s�tuotod. Tho succossor truot�o,without convoyanco oi ihu Niuyarty,shait
<br /> ' � .;':� succeed ta a111ho powor,duti�s,autharlty ond titlo of tho Trustoa nemod In tha dood of trust nnd of uny sucr,oasor trustao.
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<br /> ���� �" BAHKEH9 6YSTEMS.INC..ST.ClOUD,MN 6(1�01 11�sOQ•397•13171�O�M ptP•MTO�ME 8�1D/91 � .
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