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<br /> �fs- 141 ��( � :
<br /> covr�r�nrs
<br /> 1. PayrMnt�. Oorrower e�re:s to meke all paymento on tt� stc+ireJ debt wtien d�3. Unlass Eiorrower ond Letid3r eproo otherwl�9, any ;�
<br /> �; . � paymnnt�4ender receivee YJOm Etoerowar or tor Barro•ruar'a bena(it wiil De applled f::at to eny amounta B�rrovrur owe• on the eecurnd da�t ;��
<br /> � excluiiva o(Intereat ar prinGp�!, a°eond to Intereat,end tRan to principal.If partinl prepayment of the secilred debt ocr.urs tor eny ree�on,it wlll ..
<br /> • �;,� not aduce or excui��ny tclwds►fad payment untu th�securad debt i�pNd In tuil. ' . -
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<br />-..3.�,�{,;„�� ' 1.Claim�Itp�knt Tid�.Bar�ower will pay�II taxq,ntsumsnt�, and othn ch�rpe�attribuUbto to the praperty when due�nd will d�f�nd titlr f —
<br /> to thr prop�rty�pdn�t eny ciUma whlch would Impdr ths lian o}thl�deed of truet.Lendar m1y require Borcaw�r tu�ulpn�ny rlphtl,cldm�or I �� „ ��
<br /> detenase whlch tiorrower rney ha�o apetnst partias who supply la�or or matortole ta Improrg ar mainteln the pr6perty. I , „ ,�
<br /> � .,:,, � � 9. Irauune�. Borrower will k�ep the praperty Inaured undar term�accept�hta to Londar et 6crrower'e expe�se snd for le�der'e beneflt. All � �
<br /> • � In�unnce polial�s�h�fl i�uNsde o etandird mortg�pe clau�e In fevor o4 Lendar. Lender wii!be nemed as la�a payee or��tt�e InsureQ on any such f ;t.
<br /> InwranFa poliGy.Any irtearanco procaada may be appliad,withln Landor'e�lacretton,to either the r�aLCrat�nn or ropulr of the damre�ed pro�erty , •
<br /> or to the aec�re4 dnbt. 16ler+dar re�uiros mortpape insurance, Borrowar a�ta¢o to ma6�tain such laouror.r,e for sa lonq aa Lender re�ulra�. .
<br /> ��.�°.�- 4.ihr�tarty.&:rrowar wIp k�ap tC�n Groporty In paod condltton end mnl�o all repnirs raaaon�Aty necoaeary. � , �• � •
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<br /> ry'r"'����� 6.Exp�rtR��.Borrower egraaa tw Quy all len2or'a o:�geneoa,Includinp roaaanni:lo uttarnqy�'feon,IP Borrawar 6realca any covonant3 in thlo deed I '
<br /> �:•`�'"''`� A ' af truot ar fn any obiigatiam eacured hy ttlfa dr�od of truot.Barrower wiil��ny tt:nao amaunr.�to Landar an provfded liv Covannrt,t 9 cf thlo deed of '
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<br /> • '•' e. Ftlo1 8�cu�itv(nt�r�ste. Unli�nn Eurrmuoor first cbtafn�Lender'a wriM�r,cor.�or.t,Burrower will ruat mnke cr pormic aro�chnnpQn to any prror -
<br /> " ' '. , . eocurity Interea��. Borrawar wftl �orioran oll ct Ersrrower's obliga:lona �ndor eny priar martQnao, dvad aP tr�cnt cr otltar eaa�r�F.y agreement, I,.
<br />_. ,. inr.ludlny Borrower'e cavannnt�to maho aaymnitm whon due. � ' •
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<br /> 7.Naulomn�t►t of Rerttn art�F�nQn.G:rr.wor ansi�ne to Lendor the rente end Frafit�oP ttta�:�Rerty.UnleBe BoaCaJar aad LRrtCa►heve agroed •
<br /> cttrerHre In wHtinp, �'uR3v+or mny cnUxot and rotaln the rente as tong as Barrpwar i��r.at Iro dnP.iult.If Borrawer du4,�iclm, Lnrtder, Lander'd � .
<br />�"ti���,' ' t¢AnL cr a court apROlntad ra�eivar mnv take possesalon and menapo the properry and ccihtct tho ronto. Any ronta Lertdor ccUncto ahall 60 ..�:;�°:,
<br /> � •. egnA�rd E,rat tQ tRe coste of managinp�9e property, including court ecuto end attaraeqe' foeo, ccmmisslona to rental egartrn,art�D Rny other . �:
<br /> .�. nec�eeNry a�lntnd ex�en9ea.ThB I�filOtlllttQ A1Y1011(11 O��ER16 Will then e�gly to�aymentn on ehe socurad debt ea provided In Ccvo�m�f.e 4. .. :,
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<br /> �. „ ' 8.L�uehukla;Condorr�tnlurtu;Ptanrnd lJiAt D�v�lopmseT�.Borrower aQrc�eo to compIy viith the provisions of ony lease if this daed at Y.-�:nt is on � , ;
<br /> �, e leatehold.If th�a deed oi trust is on e un(t in e sondominium or a plannod un(t development,Borrower wil!pe�form ell of [iurrswors Autles
<br /> -,� uider the Covanante,bV•Iawe,or reflulations of tho candomintum or ptanread unit development.
<br /> �- • 9. Aut�lority of L�tKl�r to Perform for Bortowa. If Borrower fafis to pertorm any of Borrov�er's dutiea under thiy deed of uuat, Lender may � ;
<br /> • perTorm tM duUes or cause thern to be performed. Lender may sign Borrower's name or pay any amount if nocessary for perform�nce.If any ��
<br />-��..... . J consVuctlon on tho property le discontireued o►not carried on In a reasanabie manner,Londe►meY do whatever ie�ecesaary to protect Lender'e ....._ n__ _ _ '
<br /> ' 6ecurlty intsrsat In thm pro{wrty. iMa may mctude complatinp the construatlon. �
<br /> leoder'e falluro to per4urm will not praclude Leoder from exercising eny of Ite othar righYS under the law or this deed of truet. I '\ �'y.s�
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<br /> Any�mounto paW by Londer to protect Lender'e securlty intereat will be socured by thla deed af trust.Such emounte will be duo on demand
<br /> t a. md w{II bear Internst from tt�e date of the payment until paid in full et the Interest rate in effact on the securod debt. I ��� '•��
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<br /> . ,� 10. ai.,�c.na a��.s«�ti«�. If Borrowsr fail9 tp make any payment when due or broaka any covenents under thla deed of trust or any � �%�y'�
<br /> " obtigatlon eecurod by thU deed ot truat or any prlor mortqega or doed ot aust, Lander mey accelerete the maturity of tM sacurod debt end ' � "��� '
<br /> �asss:s�:sr.�d:aLs�.:;�:aL wx�...:,!.^.���.»2l:��r:sr of t�'s e:�i eay�2!�r rs:�d!es�-..ss^ft�ws!►s;tgp!i^..�!•lar:.
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<br /> . 11.Rpwst for Notic� o}D�fwk.It is horeby requosted that copies of tho noticea of dofault and eate be sent to c�ach person who is e party ,'���' '
<br /> heroto,at the address of each such pereon,as set forth herefn. .•:�� '�
<br /> 12.Pow�►of SY�.If the Lender invakes the power of eate, the Trustee shall tirst record In the oNice of thu repiater of deeda of eech county .�, �y`:�
<br /> wherein tho t►ust proptssry or aome pert or parcol thereof Is situeted a notice of default contelning the InformaUon raquired by I�w.The Trustee :•��.
<br /> ehell siso m�ii copies o}the notice of dof�uft to the Borrowor,to each paison who Is a party heroto, and to othe►persons at preacrlbed by :�i s;s• t
<br /> �ppltcablo lavi. Not less than one month eftor the Truatea recorde the notice oi dofauit or two montha ff the truct properry fs not In any '1�:�f:`'
<br /> � • • Incorpqrated city or vlllape and is used in ferming operetiona carriod on by the trustor,the'Frustee shall pfve publio not�ce ot oele to the pe►sona �i!�;;;���:
<br /> end in the mennor escribed b appplicablo law.Trustee,without demend on Borrower,sl�ell sell the ro e �:��ti'� ��
<br /> pr y p p rty et pu6lic auction to tha hiphest „�.c� ,
<br />• bidder.It requhod by tho Farm Momesteed Protection Act,Truatee ahail oNer the property in twa separete selea ea required by applicable law. f
<br /> Truates m�y poatpone sab of ell or eny pertel ot the proporhr by public announcement at the time end place of eny previausly scheAuied sab. �t��
<br /> , Lenda►or tte desipnae m�y purcheae the property at any aate.
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<br /> Upon recoipt of payment of tho price bid.Trustae ehel►dolivor to tho purchasor Trustoe's deed conveyinp tho property.The recitlets contained in I '���
<br /> � Truatee's dead shall be prima facie evidtence of the truth of the statoments contair,ed therufn.Trustea shali apply the proceeds of tho eale In the I � � �
<br /> - }oilnwlnp order. (a) to ell expensea ot the salo. ►ncluding, but not limited to, reasonable Trustoe'a tees, reesonabb attorney's fees end � ��-
<br /> reinetatement fees;(b) to ell suma secured by this deed of uust,ond(c)the balanae,if any,to the person�Iegeliy entEtitd to recelve it. +F+�i--— '
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<br /> ., 13.Fondowro.At Lar�der's optlon,this deod of truat may be foroclosed in the manner provide by applicable law for torocJOSUro of mortgapes !+w�" �;;-:
<br /> , on real propertY• ,;:;,y:� ',.:•.
<br /> . 14.Intp�ctlon.Lendar may enter the property to inspect R ff Lender givoe Borrowor notice beforehand. The notice muat stnte the reasonabia "�,ti f-=-
<br /> cause fo►Lender's InspeCtlon. ;;;,:.:=
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<br /> J% �• f 6.Cond�rtnaunn.Borrower ossi qns to Landor tho procoads of any award or claim}or damnges connoctod with a condemnatinn or othor tUking :.
<br /> ----- " � � of all or eny part of the property.Such proceeds will be eppiied as p►ovided in Covenant 1,This assiflnmont is subJect to the cerma o}any prior ��'�>;"�
<br /> � ° securfty agreerrtent. ;' ., :
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<br />_ �• �� 18.W�ivN.By exerctsing any remedy avallable to Lender,Lender doea not give up any rights to later use any other remedy. By not exercising .:'�•-;;,•�� •
<br /> *�' any remedy up�n Eorro:rcr'a dclautt,Lnnder doos not wn(va any righi to luter consider tlro uvunt a datauit If It heppens agein. �.>;r�Ni��
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<br /> 17. Jdnt �nd S�wr�! Wbility; Co-tipn�n; Succ�ssor� end A�alpna Bound. AII dutios under this deed of trust ero Joint and sevorel. Any 'n•,;:°`
<br /> � BOrrower who co•signs this deod of truat but does not co-sipn the undorlying de�t Instrumontis) doea so unly to grant and commy that •
<br /> . Bo�rower's interest In the property to tho Trustee undor the terms of this doed of trust.In addition,such e Borroivo�egreae that the Lender end
<br /> - erry other Borrower undar thia deod of trust may oxiond,modit�r ar mnko nny other changes in the torms of this dood of vust or tho sccured
<br /> debt wlthouY that Borrower's consont and withaut ralaaaing that borrowor}rom tho torms of this dood of trust. I
<br /> The dutles and benofits of this deed of tr�st shall bind and benoitt tho successors and asslpns of Lendee and Borrower. �
<br /> 18.Hotk�.Unlesa otherwisa roquirod by law,ony notico to Bortower shnll bo givon by dolivering it or by,maiifng It by cortifiod motl addrossad to � �' '
<br /> Borrower et tho property address or eny oths�ed�ross that Borrawor hos given to Lender. Barrower w�il pivo any notice to Lando�by certified � � '
<br /> mail to Lender's addross on page i of this dned�f trust,or to any othor uddress which Lendor has designatod.Any other notice to Londor shail I
<br />-- be sant to Lender's ade9ross es steted on pago 1 of th(s deod of trust. I
<br /> Any ratico ahall be deemed to have been givon to Borrowar or Londor whon flivan in tho mennar stoted ubove.
<br /> , _ ,� 19.Tw�af�r of tM PropMty ot�B�ficl�l tnte�st in tt»Borroww.If all or any part of tho property or ony interest In R Is soid or tronsforred �
<br /> without Lender's prior wrltton consent. Lender may demand tmmadiato payment of tho cacured debt. Londer may also d0monti Immediato . '
<br /> �;� peyment fi 4ho Borrower Is not e natural person end a bnnoitclal fnterost fn the Bonowor Is sotd or transfened. However. Londer may not
<br /> , p. demand paymant In the e6ove situetinns it It Is prohlhited by fodarel lew ns ot the dato of thls deed of trust. ;
<br /> � Y0. R�ca�vayanc�.Whon the obllgetion securod by thta deo�of tnist hns beon pald, and Londer has no further obligation to moko edvances I
<br /> - ._ .__.._..--_._.—.-._ .uJ��Ir lti���uwn�� �wuwwfr�awr�M��tii�A�r1 n1 w..�� �� Tr.����l..11 ..www....:w�..��....���...�1.����� ����+..�a.�._._.
<br /> � . ..�w��.w..r �.p�r.. .�.r�wr..vyw��v v�v rv��vv���vwr��o� ��'v vun� `_"._,— ..._ ..
<br /> :�"_._ w•v�. rw�.�«�...�...� ...� �...r..���..�.�.�.. . . ... .... .
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<br /> • property.Ttw Lander shall eliver to tho Borrower, or to Borrowar's succossor In interost,tho trus4 deed ertd t o noto or other ovidoncc of tho •
<br /> __ • o6tlga8on so satlsfiod.F3orrowor shall pay any rocordntion costs. ,
<br /> _ 21. Succ�caov Tru�to�. Lendov, et Londur's optlon, mny romovo Trustoo end nppolnt o succoasor trustce D; !?�at, maili�g u copy of tho
<br /> , cubstf4utlon ot trustee ss requlred by applicabto law,and thun,by filinp tho substitution of trustoe for rocord in the office of tho ragistor ot doads
<br /> � ot eech county In whlch tho tmst proporty,or somo part tharao}. Is situatad. Tho�uccussor trustoo, without conveyanco of the proparty,chall
<br /> ' succeed to all tho powe�,dutlos, authority and tltle of tho Trusteo named ln tho deed of trust ancl of nny successor trustee.
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<br /> � � SANKCII9 SVtifEMf9,1NC..ST.ClOUD.MN 60101 Il•e0O997•17�11 KOR7A OCP�MTp•NE e/18/91 '
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