|
� , .-.:+ar�e�' . .. �.;i..�.n,-r--.,,..,4,-i���;��i , T
<br /> � ,. ,. .....,...
<br /> m� ' .. _•�__ .:� ,
<br /> ,
<br /> , �,. . _�rTS ....
<br /> , , . � _ .. ,��
<br /> c_�
<br /> � .
<br /> . ' ... , . . ... � ,�
<br /> . •'a�n�• � . ... ...«n�.t►r,i4r..+...f..�..__..__..�.t- . .... _. ..._.. __ .i1 r w ?T_�' �`'. _ �...
<br /> `� . " ' . . � �t�r� - . , � �...� :��. _
<br /> +4r,
<br />'" . ' . .W�♦ . - '. . ..�?Jb:1+`�k�Pf�'� ' • ��'b1t�.uf — aa _—
<br /> �2VC7Q s
<br /> . :. .. .w- � v. • �A� _�
<br /> •q• w2fw�M u�i..�3:.�!$��� ." _ — --___.
<br />. =:r\T�*";"1.^IV'FM���L'� �.�,��.�=e...__
<br /> . _—_.�7i1l�t":-A'�.,�_
<br /> ..
<br /> ., i' _ COVE�ld1HTu ����' '���e7�� � }
<br /> _J 7. Poync:ita. Oorrowcr opreoa to moico cil pnVmon4o on.1ho oocurad dabt whon duo. Unl000 Gorrowcr ond I.or,d�r n[;roo oth�rwlao, cny �"
<br /> ��� � pnymonta Lenaor rocaivoa rrom norrowar or rur nmro�•rar a uanoiit v�lll oa oppiiod nrot to any amourno ncrrorrcr ov�oa un ii�u ucou��:ii�i:,:;i .
<br /> ` not reduce or exeu,i�,ny�oehedutid p�yment urtil th6�o cured debt e�pe d In fu lel�repaymee�t of iHe eeeured dobt occure for any roaean,It wili
<br /> ,1 2.Cl�lmo Apatnu 1'idr.Borrower wlll psy ail t+1x��,esuumenta,end other chup��etiributebfe to the roperry when due end wlll det�nd titie "ry , '_
<br /> to tho propertY e dnet�ny ctafms which wouid Impelr the Iien of thlo deed o}truet. le�der may requlre �arrpwar to aaelpn ony rlphte,cialme or
<br /> , � defemn whlch�orruwsr may havi ap�lmt pWtl�r who�upplV lebor o�moteriai�to Improve or m�IntUn the property. , '°
<br /> z-• :'
<br /> ;ti.
<br /> 3.Inturl�nc�. 9orrower wlll keep the proparty inaured undor terme ecceptebte to Lender et Borrower's expenee end fo�Lendnr'e benetit. All .{
<br /> insurance polictee ahall includa�standrrd mort ego clauso In invar ot Londcr. I.ondcr v�til b�nr.mr,d ee loen pnyee or as the Irteured on eny eunh
<br /> Insurence pollay,Qny Insunnce proceeds may��ppihd, withln Lander'�dltcretlon,to eithe�the re�toratfon o►rep:ir of the dsmoqed property � ,
<br /> �� or to the 6ecur�d debt,If Lender rs:�ulrei mortpspe In�ur�nce,Borrower epn�s to mdnt�f�such In�ur�nc�for aa lonp e�L�nder requlre�. ,
<br /> ., 4.Propwty.Borrowor will keep the property In pood condition and meke ell repalre reasonebty noceasory. °
<br /> i6.Expx�su.Borrower aprveo ta pay all Londer'e oxpenaea Includinp raaaoneblo ettomeye'feea,If Borrower Droake any covenante in thlt deed
<br /> � of truat o►In eny obllgatton secured by thiq deed of truat. �orrower wiil pay theae emounte to Lender na provided In Covenant 9 of thfa daed of
<br /> trust. ,
<br /> 8.Pria S�curity Int�r�tU.llnless Borrowor first obtaine l.onder's written conaent, Oorrawer will not rreal:s or permit any chengea to ony priov
<br /> secur(ry intereste. Borrower wlll perform ell of Borrowe►'e ahlt8atiuns under any prlor mortgage, daed of trust ot other security ayreemant,
<br /> Including 8orrower's covenante to make payments when due.
<br /> 7.Asflann»nt of RMt��nd Ptofib.Borrower eselflns to Lendor tho rsnts end profite o!the proporty.Unlese Borrower end Lendar havo epreed � '
<br /> othe►wfse In writinp, Borrower may colloct end retatn the rents ae long ea Borrowar la not in dofault. If Bortower dafautte,Lendor, !_endor's o �
<br /> apent,or a court appofnted receivor maV take posseselon and manage the property and coilect tho rente. Any rente Lender collente shall Be ,.
<br />• applied firet to tho costs of managing the property, Including court coste end ettornoye' feee,commieaiona to rentel apante, end eny other
<br />; necesaary related expanses.Tha remn`ninp amount of ronte will then apply to payrt�ents on the secured dobt as provided in Covenent 1.
<br /> i3.Locca:ad--ConGamfr�lums:Plenn_sf Untt Develo;�rteeotw•Borrowor s raos to comp!y w(th tho provislona of eny loase If thla Aaed of uuet is on „ •� • :,
<br /> o leasehold,It�this daed ot trust Ie on u unit In e condom�nium nr e pQenned unit development,Borrower wftl pertorm all of gorrowor's dutiee •
<br /> undet Ihe covenants,by-lawa,or regulations of the condominfum or planned unit development. _ _
<br /> ��. > � 9.Authority of Landsr to Pe�form for Borrow�r. If Borrowar tafls to pnrform eny of Borrower'e dutica undor this deed of truat, Lender may L ,
<br /> __. _ �arfnrm thn dutie�e m cauxa thnm to be perfarmed.1 ander may siqn Borrower's nnme or pay any amoum if necessary for perfiormence. If nny `-,.-�
<br /> construction on the proparty Is discontinuod or not canied on In a roL�one6lo manner,Lender may do tvhntnvar f�nacossnry to protect Londer'e � ,
<br /> � secudry interest In the property.Thfa may Include compieting the construction. � Y� '�
<br /> ��. Lender's failuro to pertorm will not preciude Lender from exercisinp any of hs other righta undet the law or this deed of trust. ''��
<br /> ,. , „ ; Any amounte peld by Lender to protRr.t Lendor's socurity fntorost will be socured by thla deed of trust.Such amounts wiil be due on demand •�..
<br /> and wul beer intarost from tho dato of the pnymont until pald In full at the interast rete fn eRoct on tho secured debt. r,�i; � �
<br /> _ . _ , fJ�..'_
<br /> 10. O�fwit�nd AccN�raUon. If Borrower fails to meke eny payment when due or broaks any covenenta under thfe deed of trust or any
<br /> obligatlon secured by this deed of trust or any prior mortgaga or deed of truot, Lendor may accelerate the mnturity of the aecured dobt and �
<br /> � � � demand immediate payment and may invoke the powar of sele and any other remedies permitted by epplicable law. , t
<br /> , . � . .
<br /> — __ _— __-_--" i i. ��q�aasi i.ir iivu�:v9 D:1:uY..:Is harEhy saques2� thst^_op!es ef thn netir.wa nf defnuk end ealA be sent to each person who Is a party
<br /> _.. .
<br /> hereto,at tho addrosa of each such peraon,as set forth herain. a� ,
<br /> 12. Pow�r of Sal�. If the Lendor Invokes the power af salo,the Trustee shall tirst rocord in the office of the register of doeda of each county ��.�' .
<br />� whereln tho trust proparty or some part or parcel thereof is eftuated a notice of default contalning tho information requlred by law. The Trustee � �
<br /> � ahell also mail copies oi the notice of default ta the Borrower, to each person who is a party hereto, and to other persons ea p►eacribed by , ,;. �
<br /> applicable law. Not tess then�ne month after tha Trusteo recards the notice of default or two months fi the trust property is not In any �
<br /> incorporated city or viilage and la used in ferming oparatlona carried on by the truator,tho frustee shail give public notice of sute to the porsona �,� . �.
<br /> and in tho manner prescribod by epppiicabte Iaw.Trustee, without demand on Borrowor,shall sell the proporty et public auctlort to the hlghest ,,?r,..;.
<br /> bidder.If raquired by the Farm Homestead Protection Act,Trustoo ehali offer the prnperty in two sepaiate sales as roquired by applicable law. `
<br /> Trustee may poatpone eale of nll or uny porcel af the proporty by public ennouncemont at the time end placo of eny prevlously scheduled sate. �.•';::����
<br /> Londer or Ite deslgnoe may purchose tho propercy et any sale.
<br /> Upon receipt of payment of the price bid,Trustoo shall delivor to tha purchase►Trustoe's deed conveying the property.The rocttials cantelned in r p�
<br /> Trustae's doed shell bo prima facie evldience ot the truth of the statemonte contafned therein.Trustee shofl appiy the procoede of the sete In the
<br /> follo�ving ordar: (e) to all oxpensea of the sale, Including, but not Ilmited to, reasonablo Trustea's foea, roasonabto attorneY's feea end • � '}� _
<br /> reinstetement feea;(b)to all sums secured by this deed of trust. and la)the bntence,if eny,to tho pareons le�ally ontltled to�ecolve ft. '�• `
<br /> y „'� ;
<br />� 13.Fonclotur�.At Lender's option,this deed of trust may be toreclosed in tho menner provide by applicable law for forecloaure of mortgages " K
<br /> . on real proporty, ' ' ���/
<br /> 14. IMp�cUon.Lender may enter the property to inspoct it if Lender gives Borrower notico beforehand.The notico must state the roasonablo
<br />, causefor I.ender's fnapection.
<br />� . 9 6.Cond�mnaUon.Borrowor nssigne to Lender the proc¢ode of any ewerd or clnim for damages connected with n condemnatlon or othor takin8 I . • ,
<br /> � of alt or eny part of tlie prqperty.Such procaeds will bo eppllod na provided In Covennnt 1.This asRignment is subJect to the te�ms at any prior
<br /> socurity aqreoment.
<br />- . �� � >
<br />� 18. W�ver.By exerc�aing any romody avnflable to Lender,Lender doos not give up eny rights to lator uso any other romedy.By not exercising , �'-M�.
<br /> • any romedy upon Borrower's default,Londer doea not waive eny right to lator cons�der tho event e default if It heppens agaln. j
<br />- 77. Jolnt end Sweral Uebflitv Cn-alynsn; Sucasason and Asilpna Bound. Ail dutiea under tMe deod of trust ero jofnt and savoral. Any I ,
<br /> 6orrowor who co-sipns thls dead of truat but does not co•slgn tho undertying debt Instrumentle) doos so only to grant end convoy that `
<br /> � Borrawar's intorost In the property to tho Trusteo under tho terms of this dood of trust.I�additlon, such a Borrower agrees that the Lender and f
<br /> any other Borrower under this deed of trust mey oxtend, modifv ur make any other changos in tho torma af thia deod of truat or the socured I
<br /> dobt without that Borrowor's consont and without reteasing that Borrowar from the tarms of thia deed of trust. �
<br /> The dutloa end bonotits of thls dnod of truat shull bind end banofit tho succassors and assigns of Londer ond Borrowor. I
<br /> i
<br /> 18.Nottee.Unless otherwise roqui►ed by law,any notico to Borrowor sholl bo given by delivering it or by meiling it by cnrtified mail addressed to �
<br /> Borrowo�at the proporty addroso or ony athor addross that Borrowor has a�ven to Lender.Horrower wlll give any notico to Lender by certified �
<br /> mail to L�nde►'s eddrosa on pngo 1 ot this deod of trust,or to eny othor addrese which Lendor lius dosignatsd.Any other notice to Lendor ehell �
<br /> . bo sont to Lendor'o addrasa as statad on pnge 1 of thia deod of trust. '
<br /> I
<br /> `� Any ratice shall bo doomod to havo boon given to Borrower or Londor whon 4ivon In tha manner etatad abovo. '
<br /> 9� , � 19. Tnnat�r of th�Property or e B�n�flci�l Int�r�st la th�Borrowtr. If oll or any pnrt of tho property or any(nterest In It Is sold or transferred �
<br />:� without Lender'e pr(ar writton consont. Londor may demnnd immedioto payment of the secured dobt. Lendor moy aiso domnnd Immodiato �
<br />— , payment If the Borrowc►r Is not o nntural person end a boneficfal intereat in the Borrowur is cold or transferred. However, Lender moy not i
<br /> � damand pnymant In tho abovo situatlone if it is prohibitod by faderol law as of the dato of this daod of truat.
<br /> �' , Z0. Reoonveyenae. Who�tho obligatlon sacurod by thle dood of trust hos boon paid, and Londer hos no further obliflatlon to mAko advancos '
<br /> �� � undar tho Instrumonte or agrpemonts sncurod by this deod of trust, tho Trustoe shall, upon v.�ritten requoat by the Londor, roconvoy tho truet
<br /> '' proPerty. The Lender shall dolivor to tho Borrower,o�to Borrowor's succossor In intereat,the trust deed and tho note or other evidonco of the
<br /> s. . n_ ',.�u.. .....deNn ncee
<br /> _._____._. _._. _i._""__ _��_� �..�.....e
<br /> --- voutiouv��6v v'a�mnov.uv�iv::vP v..v..y � ♦ �
<br /> = 21. Succ�daor Trust�e. Londer, et Londor's option, moy ramovo Truetoo and appoint n succnseor trusteo by first, mailing a copy of tho
<br /> � substitutian of trustoe as raqufred by applict�blo Inw,nnd thon,by(iling tho substitution of trustoo for record in tho oHico of the rogistor of doeds
<br /> of oach county in which tho trust property,or some paK theroof,Is situatad. Tho succoasor trustee,without convoyanco of tho property,shall
<br /> succaod to ull tho powor,dutfes,authorfty and titlo of ttre Trustoo numod in tho dood of trust ond of nny succoRSOr trustae.
<br /> � / .
<br /> �7'
<br />`.l,
<br />�C�
<br /> ! ' lPege 2 0/21
<br /> OANKf115 5V6TEM5.INC..ST.CLOUD.MN 66J01 Il�800•397•23411 KORM OCP�MTQNE 0l18/91
<br /> 3 I
<br /> I
<br /> � ��
<br />
|