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<br /> c�vczanats3 �I�.�j�' �n�.�.�� ,
<br /> •• 1. Paym�nt�. Eiorrower cprCCn to motca all peymnnta on tha orsswod d2hi �vhon duo. Unloos Oorrow�r and Londor oprco othcrwlno, ony _
<br /> p�ymente Lendsr rcceivee fram Onrrowor or for [iarrowor'e b�tM!i't w��� ha appIIeA firet to nny amounte Botrower owea on tha aecured debt �
<br /> � exciutive a1 Intan�t or principd,iecond�o Intera�L and bhan t�pr5z�tip�l.IP ptrtlN QteDayment ot tha uecured dobt occure for any roeaon, it witl
<br />- not reduce or excuse�ny�clxduted p�yment un�il ih��ocur�d�lzht�s pila In full. �
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<br /> 8.Cl11m�Apa1M9 Titia.Ilorrowar wUl pay ail t�xna, nseos�n��n;•1�a.n9 oiher cherpea ettributabte to the proporty when due enA wlll detend titl�a i
<br /> ;�s�, to th�prop�ny ey�In�t�ny cl�lm�which would Imp�k SIw Nyn,r�1'1�t14 d�d o4 ttutt.Lende►m�y roqulre Borrower to sstipn eny ripht�,clalmi os
<br />- . def�n���whlch 8orrower may have�pdn�t p�tlS.p.vyho Rupplu Eahv.w m�ts�lU�to Imprave or mslntaln the pruparty. i
<br /> 3. Inwr�nc�. HorroWe�will knp th�prnparty friaured ui�dqr tErm9 accoAtuDla to Lo�dcr ot Qorraucr'a mcpan�o nnd for Lnndor'u 6�nofit.AEI ( __—
<br /> � Intunnc�polisla�hUl Includ���tandud mortptpe clwse In It.vcr o}Lond�r.L�nde►wiil be named n lon payss or�s the Ineuved on ony wch i
<br /> �� In�ur�nc�pollay.Any Ineurance proce�ds m�y i3a npplled,wttNa lqnda�'�dbcretion,to olther ths reito�atlon or repalr of the dem�ped property , _��
<br /> • or to th��eeund d�bt.If 4enda requlroe mortga�o insura�ncn.�Krower Aqrexs to maintN�such inauranca for es long a�I.onder requlren. � . ��
<br /> .-�' � 4.t�opMty.Borrowu wlll kesp the prop�rty In pood condilian+�r�r!m�km atl ropalra reaaonebiy nece�eary. � _��
<br /> �� � 6.Exp�n�n.Berrower�pr�es to p�y nll Lenda'n expenson In,t:��;�lnfl raason�bte attorneye'te3a, if Borrower hreake eny covanente in thla deod � .�s
<br /> . _ � of tru�t or In any otllyatlon secured by thl�da�tf ot tru�t. �arrahv.r wlll p�y these emounta to Lender aa provlded In Covenant 9 ot thi�deed�sf j =��=—
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<br /> A.Pdor Sautky Mt�rolU.Unles�Borrownr ttrat obtaln9 Lilndor's written coment, Borrower will not make or permiE eny changee to any prlo r � ,�=
<br /> _ secuAty Intsrotto. Borrower will pertorm eil uf Borrower'D oCllpintions undEr eny prlar mortgage, deed of trust or other securlly eyreemenc, � .�;
<br /> includiny Borrower'e covanant�to meke paymante when dva. . "
<br /> � 7.At�of R�nU�nd Rofk�.Eorrowen oosipns to lnndor the ronto and profits o!the proparty.Ur.lesa Dorrower and Le�der heve apreed
<br /> otherw ce In writ�np, Borrower may collect 2nd rotaln tlw r�n1x.ss ionp es Botrower is not in default.If Elorrowsr defauhs, Lendar, Lo�der'a ,,..,r::!�,
<br /> ty�nt,or e court appointed rocelver may t�k� poeaasnton ero9 mamye ths property and collact the reMS. Any ronta Lender collects sh�ll de :;.-_::`•�'�
<br /> �.�' a Iied ftr�t to the coste of mam inp the�roperty,Including court costa and ettorneye' fees, commi�aiom to rental agente, end any othar
<br /> na«tsary rslaUd�xpat►u�•The remaininp pmount of rflrtLS wfli�dien tppiy to payments on the se,ured debt es provided In Covenant 1. ..a�."'"''�``��
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<br /> '"�' t.I.�as�haldr Conda��s:PUrxNd Unit QnvNopmK►Lt.Bcrcnwar egrass to comply wtth the provisione of any IeASe if this deed oi trust Ie os� =�;=�;
<br /> a Is�sehold. I�thls dead of trust Is on a un11 in a condomiNu��or a planned unft davelopment, Borrower wili perform ait oi Borrower's duties • �,.,,;,f�..-_
<br /> under the covena�u,bylaws,or ropulationt ot the condomlNii�n or p!anned unit development. ._`,�,�n=:;--
<br /> ��•. 8.AuBwrity of L�oder to P�etortn fw Barru�+ror.�f Borrnwer f.�ils to peHarm any of BorroweYes duties undar thts dc3d of trust, Lende►may • .�
<br /> pe►ionn iia.;i,���ao or caase th�;ti.o Cc FerMrm�� ����r m�y Rinn 6orrower's nsme or pay any amount if necessary for performance. if any • _ ,__,_�.._s.,:��_..
<br /> construction on theproperty Is discontinued nr not cnnisd on tn�a rc►asona6te mrnner,Lender may do whatever is neeossary to protoct Lender'a � �•�i:;;-�;
<br /> . secuAty(ntereat U tf�s property.This may inc!uda complo�tisg SFia constructlon. �y,���,"�°'
<br /> wi�i��
<br /> Lender'e teliuro to periorm�vill not precludu Londar irom oxorclalny any of ite othur rights under the Iew or this deed of trust. � �`�`'s'
<br /> ' Any emounta pald Gy lenckr to protect Lundor's socu��ty Int�n•ast will be secured by this deed of trust.Such emowite wiil be due on demand �L�
<br /> �,�� and wiil haar(nterost from tho date of the pnVmont until�ald fr,fu!I at the interest rate fn effect on the socured debt. ��
<br /> „ � 10. pHauit end Acsel�mtian. II Borrowee fails to mak��eny payment when due or breaks any covenante under thls deed ot trust or eny ,,.: �
<br /> obligation tecured by thls deed of trust or any prtoi mortpago o�dEed of trust, Lender mey accelerate the maturity of the secured debt and
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<br /> ' demmd immediate prymenl and may InvoY.�thfl power o4 snlo and any other remediee permitted by applicable law. �� r
<br /> � � hereto,�Qat the addre�e ot each suchfperson,�a9yaotf�rth hnroir,�opl¢s of the notices of dofault and sale be sent to esch parson who la a party '
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<br /> 12.Powe of Sr�.if the Lender Invokes tho power of salo,the Trustoe shall first record in the oHice of the register of deads ot each county
<br /> wherofn the trust properry nr some pan or parcol thoroo4 is situatod e nutice of default containing the iMa�metion roquUed by law.The Trustoe
<br />,,,,�?�`. ehall alao mafl coplee of the notice of defnult to tha Barro•n�v:, to each person who is a�arty hereto,and to other parsons as proscflbdd by
<br /> ;:��� f _ , epplicable law. Not leos then one month nftar the Tru�teo rpcords the not►ce of defeuic,�r two mo�ths if the vust proporty la not in any
<br /> � , incorporat�d city or viilage and Is used in formir►y o7rorntiqh�eirried on by the trustor,tha Tnutee shall give pubtic noUce of sate to the persarss , �' .
<br /> � �•� ''' end in th�manner prescdbad by apppiicablo law.Truateo,wichout demand on Bonower,ahnll setl the property et public auctfon to the hlpMst '�
<br /> .: 7����js-t;'• bidder.It requlrod by tM Farm Homestead 1Protoction Aot,Truatoe shall oNer the property�n two seRarete salas as required by applicable law. '
<br /> r:,:.;•.' Truatee may poatpone sete ot ell or eny peroel ot tho proport��by pubtic ennouncement at tho tlme a�d place of eny previousty scheduted eale. , , r.-
<br /> '�`� Lender or Ita dasignee may purchase tho proporty et any�ulo. • �
<br /> � U n recelpt of paYmsnt of the rice bid,7'ruatao shall dolivc.�to the purchasor Trustee's deed conveyin9 the property.'fhe recitiale contained i n ''�°�
<br /> � Truatae'e deod shall be prims facie evidionco of tho truth�of the atatoments contained thereln.Trustea�shall eppty the proceeds ot the selo in ttae .
<br /> following order: (a) to dl expenses of Yho sato. includtng, b��t not Iimited to, reesonable Trusteo's fees, ►easonab!e attornay's foes and .'_'"t ,.—�
<br /> reinetatement feas;(b)to a�l sums cocwod 6y thla doad o9 Srust,and(C)the be!anco,if eny,to the persons legalty ontitieA to receive it. ••�,,,,.
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<br />� ' 13.Fonclosur�.At Lender'c option,this dooJ of trust may 6�e foroelosed in tho manner provide by epplicablo law tor foreclosure of mortgagas � . ,.y ��
<br /> • on reel property. '�� ^�•�` �
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<br /> '�-,�;; � ,���:,, 14.Inap�c8on.Lender mny onter tho praporty to Inspoct it IB Lander gives Borrower notice beforehand.Tho notico must stoto the roasonatrfe �_
<br /> r,':•�•� ;ir�°� cauae for Lender's Inspection. �•��
<br /> "'i . •s!>;::��`•
<br /> � ;��,.;�•;� � 16.Cond�rn��tion.Borrower esaigns to Londor tho rocc�ods of any award or cletm for damapos connoctod with a condemnation or other taking ir�
<br /> of ull or any part of the property.Such prpaoodo wiP po a���tiitd as providod in Covonant 1.This assipnmont is subjnct to the termc of any prfor I y�
<br /> � �._,:,�� sacurity egreement.
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<br /> tk 18.Waiv�r. By oxorelsinfl eny romody nvsi!abto to Londor,lunder does not gfve up any rights to later use any other romedy.By not exercisireg `�,,, '
<br /> • :�if any remody upon Borro�ver's default,Londo�doas not waivi�any right to later constdar the event a dotault it it happeres again. � ?i'_
<br />= 17.JNM and S�v�nl Ltabil}ty: Co-t(pn�rn; Suce�anora eroi A�sipn� Bound. All dutios undor this doed of trust are Joint and sovoral. Aroy � �-
<br /> Borrowar who co-sipne this doed of ttaat but doaa noi eo•a�Bn tho undorlyina debt instrumentls) doos so only to grant and convoy th�t �
<br /> � Borrower's iertorest In the property to tho Trustoo under t�a torms ot this dood of trust.In addi:ion,such a Borrower agrees that tho dmnder ard � ��
<br /> any other Darrowor under this deo�of 9vus4 may o:cten�t,modifv or mako any othor changea in the torms of thts deed of trust or u�o secursd ,
<br /> • �, debt w(thov4 t�at Borrower's consent anJ tivltltout roloaainp lhat Bo►rower irom tho tarms ot thls doed oi trust. .
<br /> The dutlos end benefits of thi9 deod of trusS ahall bfnd and bunafit the succossars�ncf esslpns of Lendor and Borrower. I
<br />_.. `� � 18.Nodc�.Unloas otherwleo roqulrad by I�w,uny n�tleo tc+Berrowor shall bo givon 6v clzliverinp it or by mailing it by certiflod mnll addrossed to �
<br />"�- Borrownr at the propeny eddrese or eny atho►addraso th�R Eiorrower has glven to I.ender.Borrower will give any notice to Londet by certlfiod i
<br /> mail to Lendet'6 nddress on pepe 1 ot thil doed of t�uat, a•to any other eddrose which Lender has deslgnatod. Any athor notica to Lender shall
<br />,� be sent to Lende►'s eddresa es stetdd on Dngo 1 of tNo doad of trust,
<br />- Any notice shall be decmed ta have boen�ivan to Borcomv o►Lander when given In the ma�nor steted ebove. I
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<br /> 19.Tnnshr of th�Prop�rRy o+s B�n�Netdl Int�uet M 4bt Bo+taw�►.If ell or any part of tho propertv or any intereat i�it is sold or transforced ; .
<br /> ' without lender'e prfor written consant, Lendor moy dc�man9 fmmedlata peymant of the socurod deht. Lender may elso demend Immedleto ,
<br /> •? payment if the Borrower Is not a naturat porson nnd n bomfltlal Intorost In tho 8orrowor fs sold or ttansferrod. Howovor, Lvndar may not �
<br /> • �n demend payment In the above sltuailons ti It Is prohfhlM�by fodernl lew es of tho date of thls dedd of trust.
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<br /> . 20.R�coewyane�.When the obllgetlon aecured by ttio doad of trust has been pa;d, end Lender has no furtner obtigation to make advancas '
<br /> __ _-e� _ under the fnstrumonta or e reo,nente securad by thlo ttcsod of Uust,the Trustoo shnll, upon writton roquest by tho Lendor,roconvay tho trust
<br /> - ..�_. ._ n...�...Y.� ...b.t..�..nm eM t�uct dmrl a�vi tha nnta nr athar evidancn n}tho
<br /> -__ _ .._". w'''_�" '�' '"'_".�' n'__"_' _ _
<br /> - __.-----•-�- -.--y {rropma7. �ne w�am anm�vm�w� w um uv.�vev�r :...w......o. ��.'�C�. .. �
<br />-__ ' �� - � obl:pation so datfafiad.BOrrower shull poy eny racordatM�eosts. �
<br /> _- _ _ _____ _ , . ] 21.Succ�fsw Trur:ca. Londor, ot Londe�'s opt�on, ntay romovr� Truatoo und appo�nt o succastor trustoo by first, mailing a copy af tha
<br /> cu�etitutlon of tru9tee ee roQulred by eppllcnblo law,und 1hon,by filing tho eubstitutton ot trusteo for racord In tho offico of tho roglotor of doods
<br /> -- of e�ch caunty In whicli tho trust property,or som�part tharcof, Is sftuatod.Tho auccossor trustoe, without convoyanco of tho proparty,shall
<br /> � 6uCCeetl to ell the powar,dutles,authorit��and tltlo of tha Trusteo namad In tho daad ot trust and of eny succossor trustoo.
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<br /> � SJINKERS 6Y6TEM4.INC..ST.CLOUD.MN 68J01 It•lOO�J9J�71411 fOR?A OCV�MTp�NE 0�1A91 _J _
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