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<br /> .. " COVENANYB .g b�' '���g�� ..;°�;
<br /> 9,Fhrym�trt� Bortower e@reos to meRO atl poymonts on tho aoeurod dobt whan duo. Untooa Borrower and Lendor agru9 otharwtoo, nny
<br /> peyments Lender�ecolves trom Borrower or for dorrower's 6oneflt witt 6o appliod flrst to any amounte Borrower owea on the secured debt
<br /> not�reduca ornexC au e�any�echedule0 pOYment unUl the�8ecured debt is�paid In fuli��prepayment of tho securad debt oacure for any rqaeon,k will
<br /> �.Cltims AQa!nst Tkl�•Bonower�vlil pay all texes,essosnmente,nnd othor ehergas atulbutablo to theproperty whon due and�rolli dofond Utle "
<br /> to ths prop4rty•�paimt erty cieEms which would Impatr the Iten of thio deed of truet Lender may require 6orcower to aeatgn any righte,clalma ar
<br /> detenaes whieh Hotrower may have againat parties who suppty tabor or metorleis to improve or maimain the property.
<br /> -• 3�tnsuranc�. Borrowar wili koop tha prop�ny!n,umQ undo�tarm�nccaptab!o to Londor c�t Bo��ov�s�'o exponso and tor Lertder's beneflt. Ail
<br /> insuranee pottcies shnil inctude a standard moKpape ciauae in favor o!Lender.Le�der will be named as loae payeo ar as the Insured on any suoh
<br /> �. Insurortca po�lay.Any in$urence proeeede mey be applted,within Lendar'e dEacretlon,to elther tl�a reatoration or repalr of the demeged property
<br /> or to the sacured debt.�f Lender requfres mortgaga inaurence,Botto�vet egreee to mafMein suah inaurance for as�ong es 4ander requiros.
<br /> '�`' 4�Prap�tty.Borrower wlli koap the property in good condlU��and meke all repeire reasonabiy neaeasery.
<br /> �f� 8��xpmaee.Bor►ower a ea to pey ali Lender's oxpenaea ineiuding teasonabte ettorneys'feea, N 8orrower breeka any covenarrca in thle deed
<br /> . ' ' ot truat ot in eny obltg on seeured by this deed oi trust.�orcower wiit pay theae emourtta to Lender as provFded in Covenent 9 of thia doed of
<br /> _ . .,:'.i...-._ Vust.
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<br /> 8.P�tor Saeuritv IM�nsts.Unless Borrower firet obtains Lender's written cansenA Bwrower wlil not moke or permit any changea w any p�tor
<br /> security interea�s. Borcower wilt perform a!1 of 8onower's obilgaUons under any prior mortgege,deed of trust or other securhy agreement,
<br /> ' . . induding Borrowet's eovenants to mnke peymants when dus.
<br /> � � ?.Atsfiy�rmnt of Ra'ib�nd P�oflb.Bonower esstgne w Lender the rente and proflts of the proper{y Unieae Bonower and Lender have agreed .
<br /> mhe anse in writtnp, Bonower mny co�ieot and reUin the renta es long es Borrower la not i�detault.If Borrower defauhs, tonder, Lender's
<br /> ti��, �pent,or�court appotntad racelver mny teke posaeasion and maneQe the property end eoileat Ne�enta.Amr rents Lendar eo►leats shail be F
<br /> � .. niae�uiry efated oxpen esf The�romaining amount ot rents w11i then ePplyto p�aym ntaon,tl eeeecu�ed d�ebt es p or vided�in CovenaM tany other .
<br /> .�
<br /> ��° �.Luahddis CmMo�Nnlurrot Pt�nnsd Unh O�velopm�rt�.Borrower a reea to eom fy with the proheione of eny teeae It tNs daed ot truat le on •
<br /> � •.. �+ ' under the�covei inu by tawiuor requ�ationi ot the co�d�ominium or ptat°,a°�Mi a gaiapment�t, Bonower w1li partorm eil of Borrower'a dutine ,
<br /> ��.
<br /> "" �,Authp�tty q}L�ndM to P�rtorm ta 9onawN. f Borrower failt top erfosm sny vf Bor�owsr's duttn�uqdar this deed of tru�t. L�ndu may �
<br /> qKwm tM dutN�or a�ua tMm to bs p�rform��.t.endn m�y�lpn 6ortow�r's mm�orpay my�mount if�cssrary ta psrtonnanc�.B my �.:
<br /> iocuilt�y Inttnit�n i�:°a wn`v.Tn�n v'no ua":oompi�o ine c n�u��otl�onmanrnr,I.mde►msy do wh�t�vor b nsassry to proUOt L�rba'� —f=�_
<br /> �A'a�.� Undu's itllurs to p�torm w�U rtot preetuda Lend�r ftom axerabinp sny ot k�othar rtehto under the uw or thlo d�ed of uu�t. �� %Y
<br /> Any•mourda Wtd by Lender to proteot Lend�r's s�curity tMerast will be tecured by this deed of trust.Such amounta wpl be dus on d�mand :�;;�
<br /> ' and will bwt tnUnst from th�dste of ti�payment untit petd In fuli et the intarest r�te in efteot on the seeured debt. 2=--
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<br /> 10. D�tault�nd AealWadon. l4 8orcower fsUs tQ make eny payment when due or breaks any covennnta under thia aoed of Vuit or anY �-;
<br /> . obit9�don secursd by thfs deed of uust or any prlor mmt�ape or doed oi truat,tender mpy accelerate the maaufty of the saeurod dsbt and
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<br /> ° �.,, . dem�nd immsdi�te p�YmeM and mey Imoke ths power ot ssie and amr other remediea permitted by appAcstrfe taw. ,,�,,..
<br /> "'"` �"�� 11,ft�q�n�t tor Nodc�of O�t�ult.h is heroby raquemd tlut coptee of the notleet of defauit and anie be se�to eecA penon wta is�party �-
<br /> � hereto,et the addreas of eseh euch poreon,aa set torth heroln. �-�`�
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<br /> 12. Fow�r of Sal�.If the Leeder invokes the power o!eate,the Trustae ehall 8rat record in the ottice of th0 regtster o!deeds of eaefi eounty �=
<br /> - � - wheraln the trutt property m some psrt or parcel thereof fa ahuated a nodce of defauft corrtatNn the i�ormatton rnquired by I�w.The Trustes _
<br /> ehali eiso maii eopies of the notloe of detauh to the Borcower,to each penon who le a party �,and to other peraona a�praaaribed by __
<br /> � apptieabte�aw.Nat te=a than ora month after the Truatee rocords the n�Uca of defauR or two montha H tt►e trust propertyr Is not in sf►y �
<br /> - • . Incorpotated cfty or vtltape end fs used tn farming operaUons aarrted on by the truetor,the fruetae ahelt pive pubile notice of sale to the persona ;.�
<br /> -. ' � � tnd In the msrtnsr prescribed bY apppitceble Inw.Truetee,without demand on Bortawer,ehstl sell the propertv at publEo�uation to the hlphest __
<br /> r,,,,,,h - Diddet.if tequt�ed by the Farm Homoatoad P►oteation Aat.Tn►stee shati oifer tho proporty in two separate ea[ea ee�equired by appllaablp lew. � �
<br /> • Trustee may poatpone eele of atl ar any pareei of ihe property by pubtie ennouneement ef the dme and place ot sny prevfousty eeheduled u.le. �'
<br /> -�:�� .r: tender or its dealynoe may purohaae the property et nny sale. E�'�
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<br /> ,--" "'�� Upon rocoi�ot peymer►t of the price bid,Tnmtee shnil deiiver to the purcheaer Tnreua'e deed corneying the property.The reafdats corKelned in �;,,.,..
<br />�.'''•'4;"� • Trustea's deed oh�lt be prime faofo evidfence of the uutl�of dse statememt contained theroin.Tnutee sheli appiy tM proceeds of the aals In the __
<br /> ��-`` ���y•�r totlowinp otder. teJ to n0 expmues of the eate, inoludlnp, but not iimfted to,reesonable Trurtee'e tees, reasoneble ettatneys fees and
<br />=-�:_�?,:`_��.� " roinstetemern tesa;tb)to aU sume securod Dy this deed of Vust,and ta)the baiance,it any,to d►e peraona tegalty entitled to�eeelve tt. --
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<br /> ---;"�"'?'as � tg,Far�dosun.At Lendere optton,thls deed of truat mey be foreaiosed in the menner provtdo by applicable law far toneloaure of mortaspet _
<br />_-�"._::'�„f�'� on�ed property. �
<br /> ;�.-,�;;���;;�i� 14, �yo Lender mey enter the property to Inapeot k If Lender givea Borrowe�eotice beforohand.The nottce muat state U�e reasonable _
<br /> -__;Y�,�� uw�� forler ler'sirapaatton. ,
<br /> �.���� 1g�CondMmttlor�.Borrowet ess�pna to Lender the proceeds of any awerd or claim for damagea connected whh a condamnatEon or other takinp —
<br /> of ati or any part of the property.8uah proceeda wiA bu appl[ed ee provided In Cove�eM 1.7hls aesignment ta subjeat to the terma of any prior
<br /> pcurity�graemeM. °� _
<br /> .:u��'•M"� •.
<br />—r;.`-�;�::;o,�, 18.W�twr.BY exerolsinp acry remed�t evaUebte to Lender,Lender doea not qivo u�any riyhts to tator use anY othar romedy.Ry not exerciatnp =
<br /> __ - my remedy upon BortoweYe defauk,�endor doea not walve any dpM to kter eone der the ever►t a defauit tf R heppena epak►. =--
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<br /> - -=�-"='+�� 17. Jotnt�nd 6�wn1 Ua6IYM Co-stynora: Suea�uon and AuiOns Baund Ap dudes under We dned of truat ere Jolnt arn! severat. My -":--
<br /> -°=�v°="�7 Borrownt tvho caaip thta deed of truet but doea not casipn 3tw underiving debt instrumeMlt) does ao only to pr�M and convey that �T
<br /> �� BorrowreP�IMarest in�e p►apertyr to tho Truetee under the terms of thta deeQ ot trust.In edditton euch a Borrower aproe�tAet the Lerder and �-_
<br /> _,�=•;;q;�Gr.,
<br /> �-:g mY other Bonower under�hia deed of uu�t may extend,mod1fy or mske any other chanfles Irt t�+e terme of this deed ot truat or the�ecured
<br /> '�� ',,, de b t without thet BoROwer'e consent end wkhout roteaeing thst Bonow�r fnpm the terma of thta deed of uust. �'
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<br /> ;-;�,;a��t>;s�.r�; '. The dutiea end beneHts ot thfs dsed of truat aheil bind nnd�eaefit the succesaoro artd aasipna of Lender end sorrower. [�
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<br /> • • 18.NoHc�.Unleas otherwise tequlred by iaw,emi notics to Borrower shaM be given by dettverfnp ft or by matilr�p k by certlBed mail nddreaaed to -
<br /> `r Bonowor at tha propeny addrese or enY other addroas that 8orrower hae ghren to Lendot.Bonower will gfvo any nottee to Lendet by ee►tlHed •
<br /> . � be�se��tt t�O�Ler deOt 8 address asgst ted n�p Be 7 of t�his de�erd of tru��r e�idross whtch Lender hea dealpneted.Amr other nottce to Lendor ehall
<br /> � •�,,,, -• � Any notice ahall be deemad to have beon givsn to Bonower or Lender when glvee In tho manner ateted ebova.
<br /> " ` 18.Ttantfa of tM PropatY or a Ben�fl�id ImtNnt in t!w Bonowa.if ell ar any purt of the prwpertv or any U�tereat in k is eold or transiened
<br /> _ ;� wtthout LendePe prior written consent, Lender m�y demand Immediete paymeM ot the secur"ed debt. Lender may also demend Immediate ,
<br /> , , r payment If the 8ortower la not e nelura�person and e benefloiat intereat in the Bottower is edd or trenatetrad.However.Lender may not
<br /> ,�� dnmand payment In the nbove ekuatEons M ft Is prohlbked by faderel law es ot the date of this deed ot truat.
<br /> o � qQ,p��y,�y�nc�.Vlhan the obligatioR securod by thia deed of uuet hes Econ patd and Londm haa no furtAor obNOatlon to make edvencoa
<br /> '•�'-�'�' �...�.�:°�ii.�i�mee.�r«i iiliaeitvemr m Uie Bonower.�a i�8nlraw�er a eu�ccTea oretn irhiam�ieaLaU►e rtru�it deed andbthe�no�ot��otlter evidnnae o�the � -
<br /> •.,,�-"` .� oh! e$on ia aaUefled.Borrowe�ehati psy eny reao�detlon aoete.
<br /> , II7. 8uacossor Trusta. Lendor, et LondePe o�on, mav remove Troiatoe end appolM a suceroasor trustee by first, metltng e eopy of Me
<br /> ' subsdtutlon of truetoo aa required by appltoebte ew,and then,bY lliing the eubstitutton ot wetee for record in ihe office of Me re�later of deede
<br /> ° � ot each county tn whtoh tha bust property,or some part thereof,is situated.The succeasor trustee, wkhout conveyance of the propeny,shali
<br /> euceeed to ett the power,dutiea,authorhy end tfUe of the Trustee nemed in the deed of trust and of any suocessor trustee.
<br /> lpege 2 oI?�
<br /> � �1PiKERS BYBTEM9,INC..BT.CLOUD.MN 68301 1t�80W87•23�11 FONM OCP�MTGNE 8/7991
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