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<br /> • COVC•NANY9 �1��...,,'/�I�G,�
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<br /> 9. Ppy:tt:me. 6arrowur nproo� to moko �11 pnymontc qn tho socurod dobt whan duo. Unloso Florrowoi pnd Lon[ior aproa otherwiao, ony v _
<br />= pnyment�Lander rocafvea (rom Dorrower or for 8orrower's henefit will 6e appiled tiret to any omounte @o►rowor owea on the oecured deDt -
<br /> . excluetve of In:ereet or princlpnl,ceconrl to interoet.end then ta principel.If pertlel prepaYmenf of the oecurod doUt occurs for eny reaaon,It will ,
<br /> , � not roduce or exaos�ny�ch�ubd F�yrrosnt►mtit tt��ecured debt is poid In full. � ,
<br />� � 2.�hlrni Ay�inat Titf�.Flqrcowar w�l p1f(!�I Wc��,.��4et�mante,and other chsrpee ottribut�bte to tha proporty when due and will defend title
<br /> •`•;T' to the proqerty aydnat eny'CU11c�1 Whlch would Uriy�lr,�he Ilen ot tht�daed�f truet.Lendor mty royulra Borrownr to eaal�n eny right�,clalma or �
<br /> , datensea►vhleh 6orrownr mey hrlre[roAinet pertles who eupply le6or or meterinto to Improvo or melnteln the proporty. � " -
<br /> . , 3. Inw��nc�.Borrower will keep the property Insund under term� acceptabte to Lersder at Borrower'�expems and lor Lender'e benelit. All _
<br />- Inour�ncs pollciei�h�ll Includs a standerd morty,Qe clauce In favor of Lender.Lender wiil ba nemed ao loss payae or aa the Imured on any such �
<br />- Ineunnce policy.Any In�urance proceedo may Ix�applied,withln Lender'e dl�cretion,to either the reetaratlon or repeir ot the damageC;.:aperty ,�
<br /> ' or to the necured dn6t.I}i.ender requlrea mortgepe insutance,Botrowet epreAe to meintoln such Ineurence for ea lonp ae Lender requirea. „
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<br /> - 4.Pro�»rty.Borrower wiil kAep the property In pood conditlon and moke all repalrs reusonebly neceasary. .. -
<br /> , ' 6.Exp�r►us.Borrower e rees to pay all Lendor's oxpenseo,includinp roasonable attorneys'teea, if Borrowor broake any covennnta in thie deed �
<br /> ' ' � • of trust or in any obflpat�on securod by this doed of truot.Borrower will pay thetse emounts to Londer as providod in Covenent 9 of thls dead of
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<br /> 8. Pdor Security Int�resU. Unlesa Borrower firat obteina Londer's written conaent,Borrowor will not meka or permit any changea to any prio► I
<br /> eocurity fntoresta.Borrowe►wiil perform all of Borrawer's obligatlona under any prfor moftpope, deed of truct or othor security epreemant,
<br />- Inciuding Barrower's covAnanto to mako payments when duo.
<br /> . 7.Ae��of R�nU�nd Proftis.Borrower essf�ns to Lender the renta end profite of tho proparty. Unlass Borrowe�and Londer have apreed , '
<br /> otherw rf a in wriUng, Borrowar may collact end retein the rente ae long aa Borrower Is not In dAfauit. If BorrAwer defaults, Lender, Lender's ' '
<br />-- ' epent, or e court�ppointod roceiver mnV take posseasion and menage the property and eolleet the rento. Any rent�Lender eofleet� 6he11 be •z�'�#y� •
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<br /> epplied (irs2 to the coete of manapfng tho property,Including r,ourt coate and attorneyo' teea, commiesions to rentel aa�entt, nnd any other ,f � •�.
<br />_ ` . neceaQary related expansas.The romefning amount ot ronts will then apply to payments on the socured debt es provided(n covenant 1. :e:+.'+10�'•'_='
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<br /> .� B.Lns�hotdr Condan(�(ums;Plontwd Unit D�•rMopm�nU.Borrower egrees to comply wUh the provislona of ony iease If this deed af uuat Is on ��,�-`� �E'9o"`
<br /> o leaehold.I�thA deed of trust ia an e unit In a condomtnlum or e plenned unit�luvetapment, Borrownr will perform all of Borrower's dutias --- --°_
<br /> = under the covenants,by-lawa,or repuletions of the condaminfum or planned unit development. " —
<br /> s9. Authorlty of Lx�d�r to P�rtorm for Borrowu. If Borrow9r fafls toper4orm any of Barrower's dutiea under thla doed of uust, Lender mey . ••���`'=-��•
<br /> _ - perform tha duttea or cause them to be performed.Lendar may sipn Borrower's neme or pay any amount if neceseary for pertormance.It any i^.'�`,.�,-._�--.•
<br /> ` constructlon on the property ic diacontinued or not carriod on in a reasoneble manner, Londer may do whetevor ia nocossary ta protect Lender's _• :� d_�`��'',��,"���
<br /> >--:- -- - :acurir,lnterat En th�p:opatty.Tht�may in:.luda iamplating thc constructian. - --=
<br /> Londar's failure to perform wfil not preclude Lender from oxercfainp any ot its other righte under tho law or thia deod of trust. ����_—
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<br /> ., Any arraounte paid by Lendor to p�n¢r�ct Lendor'e security intorost wiil bo secured by this doed of trust.Such emounte will be dua on domand �
<br /> Z�; e�d wiU bear intereat from the date of the payment untll petd In fuli at the Interost rate in eHect on the secured debt.
<br /> 10. Dsfauit�nd AecebraUan. If Borrower fa!Is to make any paymnnt whon due or breaka any covenants under thic deed of trust or any l
<br /> ! � obNgation aecured 4V ahi� deed of tmst or any prtor mortgage or deed of trust, Lender mey eccelerate the maturfty of the eecured d�ebt and �,� �t
<br /> drtmand Immedfate oayment and may fnvoke the onwer ot sale and any other remediea aermittod by aunficeble lainr.
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<br /> ' • 17.Rtqwst tor NoUc�oi D�fautt.It(s heroby requaeted thot copiea of the not�cea of default and sate be sent to each person who Is a parry � :
<br /> „ hereto, at the eddresa of eaoh such person,as eet forth heroin. -,. ..:,'
<br /> 12. PowK o}S�N.If the Londer invokea the powor of salo, the Trustes shell firet rocord in tho oftice of tho register of deeds of eech counry .•. `�•`'��
<br /> " ' • wherein the truat property ot some pan or parc9l thereof is sftuuted a notico of dotault containin9 the information requlred by lew. The Trustae .:r��,�
<br /> � � shall etao mail coples of tho notico of default to the Bnrrowor,to each person who is a party hereto, and to oiher persons ae proscribed Oy ' �,.�Y
<br /> ' appiicable law. Not Iv�a than ona month after tho Trustoe recorda the notico of default, or two montha If tha trust propertyr fe not In Nny ' " -
<br /> fncorpo►ated city or�iUape end la used in farming operations carrled on by the truetor,the 7ruatee ahall piva pu6lic notfco of sale to the pereons �-;�4
<br /> and In tho manner preacribed by apppliCable Iaw. Trustee,wlthout demend on Borrower,shali sell tho property ot public auction io the hlgheat ,;,,�� �
<br /> bidder. If r4quired by the Farm Homastead Protaction Act,Trustae shall oHer tho proporty in two eeparoto�oles ae requf�ed by epplicabto Iaw. .
<br /> Truatoo may poctpone sale of all or ony parcel of the property hy public announcement at the time and place ot any prevlousfy ac�nedulE�d oub.
<br /> Lender or ita designoe mey purchase the proporty et any selo. �r.�
<br /> Upon recelpt of paYment of thA price bid,Trustee shall deiiver to the purchaser Trustee's deed conveying the prope►ty.The recitiela contnined In ' ��
<br /> Truatee'a deed shell be prlma facfo ovidlence of the truth oT the etetemente contoinoA tharein.Trustoe nhall appty the proceede of the�ale In tM
<br /> �ollowiny ordor: (+�) to all expenaea of the eale, including, but not Iim(ted to, reasonable Truatee's fees, roesonable attorney'e fee� end • '#�'
<br /> „ reinstetement teeo;(b)to all suma secured by thls deed ot trust,und lc)the balance,ff any,to tho persons Iegaily entitted to recoive it "
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<br />- ` �5 13.For�ciosur�. At Lender's option,this deod of trust may bo foroclosnd In tho mannsr provida by epA��ceblt+18w tor foreclosure of mortgag88 ��%.�
<br /> on real property. , ���m.__
<br />_, , ' , 14. In�p�cUon.Lender mey enter the proporty to inapeat It If Lendor glvea Borrower notice beforehand.The notico must stete the reasonable -v�y;:� �
<br /> cause for Lender a Inspection. �
<br /> 16.CondMrr��tlon.Borrower assiflna to Lendor tha procoeds of any award or claim for damagea connected with n condemnatiun or other tekin� �
<br />- �` t -; ,, of oll or eny part oi the proporty.Such procQOds will bo applied as provided in Covenent 1.This assignmont is sub�oct to tho to:rns of any pr(or
<br /> � �� securfty agroament. .
<br /> • ���' 16.Waiv�r. By axercising eny remedy available to Lendor,Londor doea not yivo up nny riphte to lator use any ofhor ramody. By not exertlaing �R4,
<br /> eny remedy upon Bunower'a defauit.Londor doea not waive any ripht to lator consfdor tho event a defauit If it happons apam.
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<br /> , 17. JOIIIL�fld SYYBaI Ll�bitity; Coalpnan; Successan and Anigns Bound. AII dutiea under this dood of trust aro joint and severel.Any
<br /> Borrowor who co•signa this deod of trust but dooa not co-sign the underiying dnbt inspument(al doos so only to grant and convoy that "
<br /> �� Barrower'e i�tereat tn the property to the Trustae undor the torms of thie deed of truat. In nddition,such a Borrower agreos that the Lender and �
<br /> eny other Borrower under thla deed of uuet may eMend, modify or meke any othor changes in ehe torma of thia doed of trust or the socurod f
<br /> ; , debt without thet Borrower's consont nnd wi4hout roloasing that Borrowor irom the torma of this daed of rust. I
<br />- ' Tho dutiea end benefito of thia deed of trust chall bind end benofit tho successors and asslgns of Lendor and Borrowor.
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<br />- 18.NoUa. Unlose otherwiso requfrod by Inw,any notice to Borrower shall be gfvon by delivoring It or by mailfng it by cortified meil addresaoA to �
<br /> - Borrower et the property addrese or eny other eddraae thet Borrowor has givon to Londor.Borrowar will gtve any notir.e to Lendor by cenified
<br /> mafl to lender'e adtlresa on page 1 of this docd of trust,or to any other address which Londor hae desiflnated.Any othor noticro to Lendor shall '
<br />— be sorrt*.o Lender's eddresa ea stotad on pago 1 of this dood of trust. ..
<br /> Any nafica�hall 6o docmcd to hava Baan givon to 8orrower or Lander when piven In tho mnnnor statod abovo.
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<br /> - �`'`� � 19.TrMff�r ot tM PJOp�rty�x�B�ntHcir lat�rsst lo the Borrower. tt all or any part of tho proportv or uny intorost in It is sold or transforred
<br /> without lender'a prfor wrltten consent, Lender may domand {mmediato paymont of tho aocured debt. Londer mey olso domand Im�znediate
<br /> , paymont It tho Qorrowor la not a naturul porson ond u henoficiel intoroct in iho Borrowa fs sold o• trensferrod. Howovor, Londer may not �
<br /> demnnal p�yn�cnt In the ebove siturrtiona if it io prohibited by faderal low eR oi tho dato of this daod of trunt.
<br /> � T0. RH:anmy�nc�.Whon tho obl.�cjirtion oocurod by this doed ot trunt hns boen pafd, and Londar Na5 no furthor oblipatfon to mako advancos '
<br /> • ,,_ __ ___ .._.!__ under tM Inatrumente or euroemen:s eo.ured hv thla doad ot vust.thn Trusrnn �hnu. unnn�...:.ro�.a..���.ti„r�.,.�o.,,ro. .e...,....�...c.e».._. _ . ..
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<br /> _ . property.Tho Lender shall deliver to tha Borrowor, or to Oortawor's sa�cceesor M intarast,cho trust doed and t{�e noto or othor ovidanco of tho
<br />_ . obtlgetion so eatlefieo.Borrowor shati pay any racordation eoste.
<br /> Y7. Succasa T�tl�LM�lt,°at Londor's optlon, may r�movo Trustoa end uppoint o succossor truatoo by first, mailing a copy of the
<br /> , substitutlon of frunee ac roGufrod by oppiicablo law,ond thon,by tiAn$tha su�;ti:ution of t�uaiva fur rocord in tho oHico oi mo rugistor of doods
<br />—= of eaCh coun2y In which tho trust property,or some part thoroof, fa s�tuatod.Tho succeosor trustoo,withaut cunvoyanca of tha proporty,shall
<br /> ¢ucceed to ell the power,dutins,authority and titlo of the Truatoo namod in tho deed of truat nnd of nny r,uccoasor trustoo.
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<br /> OIINKE119 SVBTEM9.�NC..6T.C10U0,MN 68307 11�E00•397•2�411 FORM OCP•tu1T(LNE 8118791
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