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<br /> ,• ,. 5.. COVENANTS � -.•"
<br /> , 1. Paym�nN. Borrower aprooa to meka all payments on the eacured debt whan due. Unteas 8ot�ower end Lender egtee ottrerwlta, any �
<br /> paymente Lendor recelvos irom Bof�owar or ior Bottower's bonafit wUl ba op Ilad firat to ony emount� Borrowo�owee on the oecurod dabt
<br /> not reduce or excuae iny acMdui�d pi�ymeritarttN�ths ec��oa aeniis oerd i�iu�e�propaymont of tho socurod dobt xcv►e for any roeeon,it will
<br />' Z.CIMm�Ag�lnwt Ti1t�.Bortowet wNF p�y all Mxa,�aaeeiamante,and other ah�rye�attrlbutebte to the proporiy when due and wlll defend Utte
<br /> to the p�operlv apeinit any aUims whiRh wculd 11n,palr the Ilan of thls deed of truat.Lande�mey requlre Borrower to eealBn any �Iphts,cleima or
<br />� dotonaea whic��eorrowar may have apeinst putlb�who eupply IaDor or matorleta to improve ar maintain the property.
<br /> 9.tnwnna�.Bonovier w1U kesp the property insured undet terms saceptabte to Lsnder at Borrower's expanaa end ta Lender't bartafit.Ail .
<br /> � fnnuranee polictea ahail inalude a atenderd mortgage ataaee in fsvor of Lende�.Lender wNl be onmed ae loss peyee or as the insured on eny auch
<br /> tnaurunco polloy.Any inaurence proceeda meY 6e appiled,wlthin Lender's diecroUan, to eithet the�eatoretlon or repait of the demegod property
<br /> ��j,�•:� O!LO th0�ecured debt.it Landet�equirot mortpspe imurenae,Barrower apreaa to meintetn such inaurance tor es lonp as Lender requtres.
<br /> . .yn�l`�.�_::..i�., .
<br /> �._rY J�-, 4.PropM�►.8o��ower wlii keep the propetty in good condltion a�d make all repeirs teason�bly neceaeary.
<br /> ���� of uEus�t or�in a�sY obilgatton securedyby thjs deed of trua�t0e�orrower will pey these imounts to Leride ea provided In Coven�an 9�ouf thia de�d of
<br /> � . tn�at.
<br /> ecu�rityBMetes�ts��Bo�nowei�wtil pe�orm aitfaft8onowor a obligetlone under eny pr1 a�moKg�9e�deed of�uuat�or oihei e'ecu8iry egreament� . .
<br /> "r, Includinp Borrower'a coven4nts to make payment�when due.
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<br /> " 7.Asstpr�m�nt o!RNttt�e�d P�oflb.Botrower assipna to Lendor the rents end proflts of the property.Untesa 8artowar and Lenda have ogreod
<br /> ',r---- otherw af e in v+rrfting, Borrower mey cdleat and retain the renta es tong as Borrower is not in defeutt.If Borrower defeuite, �ander,Lender's
<br /> � � agent,or a court appointed re co i v e r m a1r t a k e po a s e a e t o n e n d m u n a g e t h e p r o p e r t y and eolleat the roMS.Any�ents Lender aoNeete ehai�De
<br /> appilad flrst to the coats af maneging the property, (noluding court eoats and attorneys' fees,commiselona to rentel eeenUs,and eny othat
<br />;.a� ' necessery telated oxpensee.The remeining emount of rente will then appty to paymente on the aecured debt as ptovided In Covenent t.
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<br />_• �• ; 8.L�u�hddr Condomi�tum�i�md Unit D�vNapm�nb.Borrawer agrees to compty with the provisions of any teaso if this dead of trust is on �-
<br /> a teasehote.1�tMs deed of trust la on a unit in a condominium ot a pla.ured unk deveiopment,Bonower wlll pertorm eM of Borcowor's duttos
<br /> =�:�.. � under the covenante,byIawa,or�e8ulatlona of the condomiNum or pfanned unft developmaM. °::
<br /> --_.'��f " 8.AuUwritU ot L�ndv to PMortn ta BoerowK.it f3onower iaHs m�periorni a��y c,i 8o�rowar's du-.ias wsC�th�dc�a!tr�L i.r.ndar m..�J ��.
<br /> • , . uUw �_�:'_
<br /> perform the dutiea or ceuae them to be per(ormed.lender may eign eorrower's name or pay any emount it neeeatary far pertormance.if any
<br /> ` c o n s tr u o tl o n o n t h ep r o p e r t y I s d l s c o n U n u e d o r o o t c e rt i e d o n i n e r e a s o n e 4 t e m a r t n e r.Lender ma y do whatever la neceseary to proteat Londer's �;'
<br /> ,. �. �+�� � eecurlty iMeroBt in the propeny.This may tr►clude completinp the conatruation. K��
<br /> �� !t'�, Lender'u faflure to perform witl not prectude Lertdar f►om exeroising any of fte other rig h t s un dar t he Iew or thia deod of uuat.
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<br /> . �^� An emow+ta paid by Lender to proteat lender's securPty imetest will b3 soaured by thia deod ot truat.6ueh emounts wiU b0 dus on demand ��_
<br /> an�wip boar interest trom the date of the payment unUl poid in tuU at thu Interest rete in effeat on the seeu�bd debt. —___
<br /> • 10. O�fault and AecN�ratton. It Bonower faiia to make any payment when due ar breaka any covenaMs under thfa deed af uuet or aml '�-`-
<br /> • ,..,, obllpetion sacured by thia deed of uuet or any prior mortgepe or deed of truat,Lender m�y accelerote the matudty of ths seeured debt snd ��°==
<br /> '� demand im�nediete paymerK end rrtay invoke the power of aeie and any other remedlea permitted by applieabls Iew. --
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<br /> ' '•�''`� 11.Requ�at fo�Noti¢�of t)eteutt.It u hereby requested thet coplea ot tho notices of defeuR and eete be sern to eaeh penon who is e pany
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<br /> hareto,et the address ot eech auch porcon.as set forth hateln. __
<br /> . '� � + 12.PowK of S�M.It the lender invoke4 the power of sale,the Tnistee shall flrst recrord in tAe oHice of the repister o}deeds ot esch eounty
<br /> � " ;: ��Ii wherein the trust property or some part o►pareel thereof is skuated a noUca of defeult contatning tha informeUon requEred by iaw.The Tru�s
<br /> ehell aiso mail eoptes of the notico of defauit to the Bottower,to each person who la a party hereto,and to other per�otu at presetlbed by
<br /> ;;•5,•' � . ' a mt in en
<br /> _.ft n.,�•:•; ;�;r,. �� � eppUaabie lew. Not Ieas thon one mornh after the Truatee rec4rds th9 notice oi default or two rnotriha if the trust properry i y
<br /> t. ,: j• incorpotated city or vlllage and ia uaed�n tarminp operadona cettied on by thb Vuator,the ftuetes shnU give publte noUa of tate to the penona
<br /> }<;�,,.;"�;:�'`% ; and In the mannar prescribed by epppllanbie taw.Troatee,witfiout demand on Borcowor,ehail seil the property at pubUo wotlon to tM hiphest
<br /> � ��°±� bidder.It requitod by the Far Homestoad PtoteatEon Aot,Truatee shali offer the p�ope in two separate sefes ae required try�ppl[cable law.
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<br /> •;�;k„ +�, k;.; Tr u a t ee mey po e t p o n e s a l e�a�l o r a m r p a r c e l o f t h a pro p a t t y b y public announcemerrt a the time and ptace of any provfotnly tchsduied u�s.
<br /> :��• �`" . Lender or Ite desipnee may purt!►eae the propeety et any eale.
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<br /> ���=��, '' ��'� Upon recetpt ot payment ot the pdce bW,Trustea shali dellver to the puroheser Ttustee's deed aomreying the propeRy.Ths�ecitNl�corrcained tn
<br /> °���' �' + • Trustee's deed ahali be prlma facie evldianee of the Vuth of the steteme�ta eontelned therein.Trustee ehali eppfy tM pra�ed� atthe ule in the
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<br /> � foliowi� order: (at to all expenaes of the aeb, inciuding, but not 8mited w,reawrnbts Ttustee's fees, reawnable �ttorney's fees and
<br /> _:=�~t"��•��.�JJ,��� relnatetement teea;!b)to eq Rums secured by thia deed of wst,a�(o)the ba�snee,If any,to tha parsuna lepaliy entiUsd to roceive it.
<br /> �'-"��f��•7�r.
<br /> ��="�'7'" 13.Fanciwun.At LendoYs opdon,this deed of trust mey be foreatosed tn the manner provtde by eDP���b�e�aw tor foredoswe ot mortyapes
<br /> " "=�''`A`�� on roat property.
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<br /> �-�^�- ����g� 14.Ins�atlon.Lender may entar the propeny to inspeat it if Lender g►ves Borrowes notica betorehand.The nottoo mutt etete the ro�asonabte
<br /> v<��^.�~�;:�3��r_� ceuse tor Lender's UapeoUon. _
<br /> - �"-'N 1S.Coedemn�tlan.Borrower osc!gns to Lendar the proceede of any award or c�alm for dama�ges conneoted wkh a condamnedon or other tekisy _
<br /> =,_-_M:A= of ail or any part of the property.Such proceede wili be epplied as provided In CoveneM 1.Thia aaslpmneM is subject to tHe tarma of any prior
<br /> _-- _ . eecurity epreement.
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<br /> -u..��"r,'�s"r�� 18.Watv�r.By exerdsfng any remedy avaitable to Lender,Londer does not give up eny Hphta to�atar use eny ottx�remady. BY�ot exmcistng _
<br /> ��;��il� � any remedy upon Barrower's defeutt,l.ender doea�ot waive eny dght to later conalder tha evem a detauit it(t hepp0�►S eya���. �
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<br /> -_----�=����+� 1�. Jd�ti4 and 84vtreS tt��y•Co-at9netas Su^-aeaaern end AeNgns Bamcl. All dutkQ under thle deed ot n��at ere JotM and several. Ae►y ` -
<br /> -= � -�" Borrower who co•aigna thte deed of vust but doea not co•sign the undetiving debt lnstrumantls! �oea so oniy to greM end convey thet .y.
<br /> � � Bottower's fM�rest in the property to the TNStee under the terme of this deed oT trust.ln addidon duG e Bonower agrees that the Lender end _
<br /> "`��`,"��• eny other Borrower undar Mia dosd at trust may extend, modilv or make any other changes in tfie�etma oi thte deed ot t►uat or the sacured --
<br /> _,:��."�"L'°"�:;�* debt without thet BorrowoYs consent end without reteesing thet Borrower hom the terms of this desd of trust. '�-__
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<br /> �t�_��.:n�;.y1, The duHea and beneHts of this deed ot uust shat�bind end beneflt the suacesaors end aeaipna o!Lender and Borrower. a�
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<br /> � "' 18.N�tica.Unless otherwlse required by taw,amr notice to Borcower aheli be given by de�tvetiep it or by meAtng it Ey cerdited mNi addreaaed to e -
<br /> �� � � Bonower et Me property nddress or er�y ather addres�tnat Borrower has givan to Lender.Borcower wlit plve any notice to Lender by certiNed r";
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<br /> �' ��-° � mal{to Lender'a eddresa on pape 1 of this deed of trust,or to any othet eddreae which 4onder has deeipneted.Any other nottce to Lendar eheti ,,;
<br /> `= • , 'y�� be sent to Lo�der's addrees es eteted on papa 1 of thla deed of Vust. -�
<br /> `,."y�'. Y i �•:�°:
<br /> .. , 4,; Any nottee shai�be daemad to have been given to Borrower ar Lender whan gEvee In ttie manner steted ebove. ;,r
<br /> : 2 18.Tansfn of th�PropMy or�R�tlalM t��st in th�Bonow�r.if eli or any part of the propertv or any Intereat In It t�eatd or transterted �`
<br /> wtthout lendor's pflor writton consaM, Lepneder may demend Immedfate payment ot the secured debt. Lende► may dso demu�d Immodteta
<br /> ��� deme�peymeeM In the above ehuattor�w tf tt[s prohibfdted by t^�t�doral�aw es ot the d�f Mis dcod�at tivatansferted. However, lender may not
<br /> 20.Reconrsyanoe.When the obiigatlon eecured by thls deod of trust hus beon petd and Lender hes no further obtigerian to make advancea
<br /> „ _�:�y undor the InatrumoMe or agreumente eecured by thla deed of truat,the Trustee ehalf upon written requeat by the Lender,reconvey the trust
<br /> __ '" � obllgeUon eo setlsHodeBonower sheil pey eny recordatfon�s er's suecessor In Intereat,the trust dood and tho note a othet evtdenco ot the
<br /> - � � Z1. 8ucee�sor Truetes. lender, 8L LOIItl8Y8 0pt1011, fl18Y f81110V0 INSt99 e�0 8ppDirtt 8 BY�coaoor iruaioo oy iaai,ui6irii�j 6 �iry� vi uso -- -
<br /> - substttutEon ot uustee ae required by applicablu law,and than, by filhig the subaUtuUOn of truatae for rocord in the offlee of the rogistar ot deeds
<br /> � �� ot eaalf county In which the truat propetty,or aome�port thereot,Is situeted.7he suceosaor trusteo,without eonveyanea of the property,shali
<br /> • � • succeed to atl the power,dutiea,authalty and thie of the Trustee named fn the deod of truet and ot eny aueeessor uustee.
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<br /> ' � BANKEAB BYBTEM9.INC..8T.CIOUD.MN 66J01 It•600•�8�•l�41)f-0RM OCP-MT(i-NE 8fl9IB1 �
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