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<br /> ' COVENANTS � 9 5 J_ �""�''"��
<br /> � 7• PeYrnsnts. eorrower agreea to make ell paymema on the secured detrt �vhen due. Untesa Borcawsr and Lender sqr4e otherwise, arry
<br /> paymnnts i,ender reaaivea from Borcawer w for 6orrower's bsnefit wifl be appliad tint to sny emaurrts Borrower owes an the sacu►ed dabt
<br /> excluaive ot irrcerest or principal,second tn interest,erxl then to principal,H parHal qrspayment of the sscured da6t occura for hny reeson,h will
<br /> not reduce or excuae any acheduled peyment untSl ihe secured debT is paid In fuil.
<br /> 2. Cidma Apelnst 7itf�. Borrower will pay nll taxes, ssseasmenta, and other charges ettributabie to the praperty whan due end wilt defend tkle
<br /> tn tFre property against eny claims which would impeir the Nen nf this deed of�ust.Lender may require Borcownr to asslpn any riphts,claims or
<br /> defenses which Borrower may have mQainst partias wha aupply iabor or meterin�R to imprvve or mair�tein tha property.
<br /> 3. Insurnnce. Borrower will keep the property insured undar terma acceptable to Lender et Borrower'a oxpense and for Lander'a 6enefit. Atl
<br /> insurence policies shalt include a standard martgage clause in favor of Lender.Lender will be named a�Ipse payee or as the insured on any auch
<br /> inaurance policy. Any insurance proceeds may be appiiod,within Lender's discrettan,to ehher the rostaretion or repair of the damaged property
<br /> or to the secured debt.If lender requirea mortpege insurence,Bprrower aprees to maintain auch inaurance for as bng aa Lender roquirea.
<br /> 4.Prop�rty.Borrower will keep the property in good condhion and meke all repaire re�aonebly nacesssry.
<br /> 6.Expens�s. Borrower agreea ta pay ali Lender'a expenses, including reaaonable ettvmeys'feea,if Borrower breaks any covenants in this deed
<br /> af trust or in eny obli�atian secured�y thia dead of trust. Borrower will psy theae amounta tv Lender as providad in Covenanrt 9 of this deed af
<br /> trust.
<br /> B• Ptiw 5acurity lotarsah. Unlesa Borrower�rst ohtains Lender'a written consent, Borrower wiil not make or permit any Changes to any prior
<br /> sacurity Interests. Borcower wiil pe�farm atl of Bonower's obtlgations ur►ddr an} prip; mortpaga, deed of truat or other aecurity agroemer�t,
<br /> .•�includinq 8orrpwer'a cavenants to mska peyments when due. � ��� , . .•
<br /> �-•7.Aatlqrunvnt of R�r�fa�d Prqflq,gprcower esaiqns to Lender the rorns snd profits oi the{xoperty.Unlass Borrower and I.sndar have egreed
<br /> ; otherw�ee in wrkina, Borrower may co�lect and retain the rents ea long ea 8onower la not in defauh. !f Borrower detautta, Lender, Lender's
<br /> Agent, pr a court appo(nted receiver mey take poaseasion and manage the property and coltect the rorns. Any rertts Lsnder collecta shall be
<br /> applled tirat to the cnsts of manaqing the prpperty, includir� court coste end attomaya' feea, commisaions to rorital sqarns,and rm other
<br /> neceasary reiatad expensee.7he romafning amount of te�will then�pply to payrtseMa on tha secursd dabt ss provided M CovenAnt 1,
<br /> '' 8.Le�aehdds�Corxfominlurru;Plemnsd Unit DawNnpmMbt.Borrower agreea to comply with the provlalone oi any leese if th(s dsad of trust Is on
<br /> a leaaehotd. I�thia deed of trust la on a unit in a candominium or p plenned unit development, Borrowsr will parform sll of 8orrawar's duties
<br /> under the covenAnta,by-lawe,or regulations ct;he conclominium or planned unit devebpmsrrt. ..
<br /> 9. Authority pt Lmd�r to p�rform fot Bonown. If Borrowpr feils topa rform any of Bonpwsr's dutiu undsr tht� deed af trust, Lander may
<br /> perform the dutien or cauae them to be performed. Lander mey sfqn Borrawsr's nama pr Pey amr emount if neclsaary dor psrformancs. M eny
<br /> conavuction on the praperty is discontinued nr not carriad on in a reaapnable manner, Lar►der may do whetever is nacesesry to protect Lender's
<br /> securhy intereat 9n ths praperty.7his may Include completing the conatruction.
<br /> Lender'a failure to perform wiil not preclude Lender irom exercisinq any of ha other righte under the Isw or thia deed of truet.
<br /> Any amounts paid by Lender to protecc lender's aecurity intereat will be secured by thia d�ed ot trust. 5uCh pmounta will be due nn demand
<br /> and will bear interest trom the date of the payment untfl peid in full at the intereat rete in effect qn the secured debt.
<br /> 1q. DefaWt nnd Accelsredcn. If Bprrower fails to make any psymnrtt when duQ or hreaka any cpvenents under thiY daad of truat ar any
<br /> o6iigation se;ured by this deed of truat or any prior mortgage or deed pf truat, Lender mey accslerate the maturity of tha secured de6t end
<br /> demand immediate payment end may invoke the powe�of sale and any other remedies permhtsd by applicsbla Isw,
<br /> 11. Fisqusst tor Nattca of D�Teuli. It is herehy requested that copfes of the notfces of d6feuh and sale be sent tb eech perapn who la a party
<br /> herete,et the rd,�resa af each such person,as sat forth herein.
<br /> 12. Powsr of Ssle. if the Lender invekea the power of aale, the Trustee shall first record in the office of the rogiater of deeda of eech caunty
<br /> wherein the trust property or some part or parcei thereof ia situated a notice�f defautt containing the infprmstion required by law. 7he 7rustea
<br /> shall also mail copies of the notice ot default to the 9orrower, to each person who ia a party heroto, end to other perspna as preacribed by
<br /> appifceble law. Not leas than one mqnth aher the Trustee recorde the nptice of deteuk, or two montha If tha crust prope►ty is not in any
<br /> incorporated city or village and is uaed in farming operations carried on by the truator,the Truatee ahall give puhlic notice of�ale to the persona
<br /> and in the manner prescribed by appplicable law:Trustee, without demand on Borrower, ehall eell'.he�:uoperty at pubNc auctipn to the highvst
<br /> bidder. If required by the Farm Homestead Protaction Act, Truetee ahail offer the property in two eeperete ealee ea required by appticehle(aw.
<br /> Trustee may pastpone asle of all or any parcel of the property by publlo annpuncement et the tima snd plece o}any previously acheduled sele.
<br /> Lender or hs designee may purchaae the praperty at any sale. .
<br /> Upan raceipt of payment oi the pricd bid,Trustee shall delivar ta the purchaaer Trustee's deed convoytng the property.7he recitiAln contafned in
<br /> Trustee's dead shall be prima facie evidience of the truth of the etatementa contained theroin.Trustee ehall apply the proceeds of tha sale In thp
<br /> following order. (s) to ali expanses of the sale, including, but not limited to, reaaanable Truetee'a feea, reaeoneble ettvrney's }aps end
<br /> reinstatement fees; (b)to ell auma secured by th(e deed oi Vuat, end(c)the baianca,if nny,to ths pdrsons le.gally entltled to rece{ve h.
<br /> 13. Foroclvsurs.At Lender's pption,this deed of truat may be foreclased in the manner provide by appflcaple lew for forocloaure af mortpapee
<br /> on reai property.
<br /> 14. Inap�cdan. Lender may enter the properry to Inspect it if I.ender q(vas Bonuwer notics beforoherxl.�7�ie,notice must atate the raasoneble
<br /> cause far Lender'a inepoctlon. • ,
<br /> 15.Gvndsmnntlon. Borrowor asa(gna to Landar the proceedg of any award or claim for dam�gar connected with a condemnation or other taking
<br /> of all or any part of the prpperty.Such proceeda will 6e epplied e�a providad in Covenent 1.Thix essipnment ia subject to the terms pf any prior
<br /> eecuriry n�reement.
<br /> 18. Wdver. By exerclsina any remedy available to Lender, Lender does not pive up any Nqhte to leter uaa eny other remedy. 8y not axercising
<br /> eny romedy upon 9orrower's defeult, Lender does nat waive eny riyht to latar consider the avent a deteuh if it happens apaln.
<br /> 17. Jdnt and Saverel Liabit}�y; Caalynan; $uccnsas �nd Arrlyna Baund. All dutioa under thfe daed of trust ars )oint end sevaral. Any
<br /> Barrower who co-signs thts deed of truat but does npt co-siQn the underlying debt (natrumentte) doet sp vnly to prart and convsy that
<br /> Borrower'a intardat in the property to the Truatee under th6 terma of thi�deed af trust. In addition,auch a.8orrower pyrees that tha Lender end
<br /> any other Borrowar under thia deed oi truat may e�ctend, madify or make any other cha�gea In the tarme;of thla deed pf trust or tha aecured
<br /> debt without thet Borrawer's consent end wkhout releasing that Borcower hom the terms of thls desd of trye�f.
<br /> The dutiea and benefita oT thie deed ai trust ahail bind and beneflt the auccesaors and as�lpna of Lander and Borrower.
<br /> 18.hvtice.Unlesa otherwise requlred by law,any notico to Borrower rhall be piven by deNvering it or by mailiny it 4y certl}ied meil nddreesed to
<br /> Borrowar at the property eddreee or any other addreas thet Borrower has yiven to Lender. eorrower wllt glve rny notice to Lendsr by certffled
<br /> mail to lander'a address on paqe 1 of thia deed of trust,or to any othe►sddrett which Lendar hat desipnated.Any athar notics ta Lsnder rhetl
<br /> be sent to Lender's nddrasr pe stated nn pepe 1 of thle deed of trurt.
<br /> ., Any notioe ahell be deemed to heve been plisn to Borrower nr Landar when piven In the manner�t�tsd�bavs.
<br /> 19. Tr�nst�r of th�i'rop�rty w r BtnMe�!�! [+tterut ln th��orrowrr. If all ar pny pert of the prppe�y ar�ny Intarett in it i� �pld or tr�naferred
<br /> . withput Le�nder'• prlor wrltten content, Lender may demand Immadiete paymant of the �aqured ds6t. Lender m�y slio d�m�nd Immedlats
<br /> dsmandtpeymenBin the�uboviiltuetloni f}I���qrahlbtl sd by fidiril Ipwiii o}the dati of th�i ds�d of�trruit�f��d� Howswr, L�ndsr m�y not
<br /> 20. Rrcom�yance. When the obliqetlon eecured by thl• deed of tru�t hA� bsen pald pnd L�ndsr hr� np furthsr ob�ipption•to mske edvencea
<br /> under tha inatrumante or agreemente �ecured by thl�d�ed of tru�t, tf►� Tru�tee �hat� upon writt�n repua�t by tha Lenda, r�cpnwy th�tru�t
<br /> prpperty. 1'he Lender �hell deliver to the Barrow�r, pr to 8orrow�r'� �uaq�por In Int�rnt, th�t►u�t d��d�nd th�not�or vthu�Wd�np�of th�
<br /> abl(petinn Np�etlslled,Barrower�hell pay�ny►�oo►datlon op�t�,
<br /> 21. 9ucc���ar Truste�. Londer, at Lender'� optlo�, mey rsmova Truet�a end appolnt e •ucosnor tru�tee by Ilnt, m�lllnq s copy ol tha
<br /> eubstitutlon af truetee ee requlrad by eppllceble lew,and thwn,by}Illnp tha substitutlpn of tru�ts�fpr rpcord In tha q111ce of tha rbpl�tsr of depde
<br /> oi each county In which the trust property, or apme part thereot, I� ritusted. Th��ucca�ror tru�tee, wlthout conveyance pf ths proparty, �hsll
<br /> ruccaed tv all tha powsr,dutle�,euthorlty rnd tltl�01 the tru�U�n�med In tha deed of t►u�t�nd o1�ny�uca���or trurte�,
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<br /> � BANKERS SYS7EMS,INC.,ST.CLDUD,MN 6sa01 11-lOF7Y7•2�411 FOpM OCFMT0.N!6/1P/!1
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