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<br /> a 1. Psymmi�. 8orrower agreos to make eilpa ymcnte an 1he seaured debt when due. Unteis Borrower end Lender agree othorwisa, any
<br /> poyments Londer roceivae hom 8orrowor ar Tor 8o�rowor'e beneflt wlit be appIled flrat to any emounta Borrower owoa on the socurod debt
<br /> • not reduco or excuseadny�achoa�dutod paymeMtumtlihe,ecureed debt la petd in fulla�prepaymen4 of the eecured debt occure for any�eeson,it wiil
<br /> " Z.G�Itra Ap�imt�1y�.Bortowar vrUt p�y ali tsxee,eseosemente,and othor ohargoa attributable to tha proporEy when duo and wlll dofend titte
<br /> to the property ap atnst dny cl�tms whiah woutd+mpeir the Ilen of�hts daed of truat.Lender may requlre Borrower to aesign any rights,clatms or
<br /> „, dofonaoe whl�h eoROHror mey heve epeinet parttee who supON�ebor or matoriats to improva or maintain the proparty.
<br /> �� 8.Imunnae. Borrower wtil keep the property Inauted undu terma acceptabte to Lender at Bonower'e expa�ae and tor Lender'a benofli.AII
<br /> • Insurance potieles shali inctude s starMard mortpage cl�use in favor of Londer.Lender wlit be�amed as Ioaa peyee or as the insured on eny such
<br /> ' , ' or to the seciired de t�If Lenderpequ�eiamort8 pe ins�urancwe,�8orro er egre�es�m meiMein suoh Inaurencae for as bne�as Lender roquiree rope►ty
<br /> ' , .•• ;�..µ�� 4.Pirop�rty.Borrower w11i koep tho propertl►in guod condktan ared meke aIi repatrs teasonabty neceasary.
<br /> _ ,,,,, ' 8,Expsn��s.Bonower agroos to pay aIi Lender's expensea Inatuding reeaonobie attomeys'fees,if Borcower breaka any covenante in thta deed
<br /> ' oi truet or in any obligetton secured by thia deod of uust.�orrower wltl pay these amounm to Lender as provided in Govenent 8 of thla deed of
<br /> ___ _.-:._ _— tn!et. —.
<br /> 8.P�t�S�awit�►Ir�Ur�.Untess Bonowur flrat obtaina Lender's w�itten consent,Borrower will not make or permk any ahan8es to any prior
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<br /> `� Incuding�Botrower'e covennnte��t ma{io peymerrts whenedua.bQgedona under any prior moRgege,deed of uust or other security agreement,
<br /> � " 7,pa}�nm�M of p�nb�nd Proflt�.Bortowe�asaigns w lender the rento and proflte of the property.Untess Bottower and Lender have agreed
<br /> • othervvfae tn wtitfng, Borcower mey coliect er►d rotain the rente ea long as Sonower la not in dofauft. It Bo►�ower defauits,Lender,Lender's � `
<br /> " age�t,or a couR appointed recetver mefr take poesesston and manage the property and colleat the rente.Any rems Lender colieats sha11 de ;
<br /> " eppil e d flret to t he coata o f manng fng t r�e p r o p e ri y, i n e t u�Y�g c o u K e o a t a a n d e t t o m e Y e'f e e e, c o m missbns M reMat a a enu+, end an y other ..,
<br /> - .. neceaeary related expenses.The�emaining amour►t of ronte wflt then appty to paymerns on the eacured debt as provided in C ovenarK 1. ��;�
<br /> „ . �,.� 8.L�aa�hoids•�orMoa�iNumsj Pieensd Unit OsrNopmmt�.8orrawer agreea to compty wfth tho provisions ot amr lease tf this deed of trust la on _
<br /> • ° Y undar�covener�ited,byd-t�avra�,or reputaUona of Uee c�ro�omM�fum or pianned unit deve�opmoM��trawer wiit perform ali of Bonower's dutlea
<br /> {y � 8.Authodq of L�r to PMorm for Borrow�r.If Bonower faUa to peHorm any of BotroweYS dutlea under this deed oi trust,Lender may — .
<br /> pe�torm the dudea or oause them to be performed. Lender may a}gn Bonower's neme or pey any amouM If necessary tor performence.If any ?
<br /> eonstruadon on the Dtoperty is discorrdnued or not eartlad an tn a reasonebie menner,Lender may do whatever la neeeseary to protect Lender's Y
<br /> �- � � sec�uity IMerest in the property.This may include comptettnp the construadon. �_
<br /> Lendsr's failure to perfo►m wili not preeiude Lender iram exarcistng any of ite other�fghts under the law or this dead of trust. �,,,.-,_
<br /> �t?"U —__.
<br /> _ . ._ . -=� � end wi�beer�IMeaesi h m Uie depte��of t�he padymer�t untli�peid 1n�fulf a�the teiter�estaabte in�if ctdon�Becu�red�debt unta w11i be due on damend ��r
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<br /> . � ` � 10.O�hutt�nd Aeeola�tian. If Bonower feils to mePce any paymoM when due or breeka arry covenants under this deed of truat or any �;
<br /> obllpeUon secured by this deed ot truat or any prtor mortpape or deed of trust, Lender maY accelmate the meturity of the secured debt and
<br /> ��{���pwy�nnt,�rrcl msy invoke the power of a�le and am othet remedlea permitted by aRPlicaWe law.
<br /> �,o� ., herem�a�t�the addNre�ss of ea�eh�s�uch�pe sonfeasyset fa�he e(�int.eoptes of tho notiees of default and seie ba serrt to esch person who is a party -__
<br /> ' ` 1Z,Pow�r of Sr�.if the Lender invokes the power of saie,the Trustee sheli flret record in tlie offtce of the repister of deede of each courty
<br /> L � wheroin the uust property or some part or parce!thmeof ia eitueted s noUce of defnuft eontaMtng the iMormaUon requGed by law.The Tnutoe �
<br /> � �ti'� • shall atao mali eoptes of the�otice of defauh to the Bonower,to eaeh person who la a parly hereto, ard to other persons as prescri6ed by
<br /> �;'•� appUoabte law.Not Iess than one month after the Trustes records the eotice ot detaui�or two moMht if tlre truat property Ia not in atry
<br />-�t:�tr�.� • • � q incorporated city or vUtage end ia uaed in terming o�perations oarriad on by the truator.the 1rustee shall give pu611e notice ot eale to tha porsona
<br /> ��; i, �( and in the menner prescribed by�appplloabte lew.Truatee,wkhout demand on Borcower,ehnil sell the propert�r at pubila euadon to the higheat
<br /> � , '�+ i bidder.M�equired by the Farm Homestead P�'oteodon Act,Trustee ahalt ofter tha property in two eeparate sales ea required by appt(cebte taw.
<br /> ° d� ; S'tustee msy postpone sale ot at�or any pnrcel of the praperty by pubito announcemer�t et the tEme and place ot any previousry ooheduled eate.
<br /> .�, r�,:, , � • Le�Mer ar ite deafpnea may purehasa the property et any eale.
<br /> -�-„`� �� .Y. Upon recelpt of pe�e M of the price bid.T�uetee ahaM detiver to the purchaser Trustee's deed conveying tlre ptoperty.The recitfafa coMained{n
<br /> -- � � Tncatee's deed shalt be p�ime fede eviaenca of the truth of ihe statemenm contefmsd therein.Trustea shaU appty the proceeds of the sale[n the
<br /> ��� _•.�.; � fottowinp order: te1 to ati expensea nf the eate, Enetudirg, but not Ifmited to, reasoneble T�uatee's teea, roasonable ettomey's fees and
<br /> =':.1-�-.-�'c% �einatatemeM feea:tb)to ell suma aecurod by thia deed of uusL end to)the baianco.H any,io the persons legalty ernided to roeelvo it.
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<br /> - - � 13.Fa�ciown.At LendeYs option,this deed of truat roey be torectoaed in the manner provide by app�icabt�iaw far forectoaure of mortgepes
<br /> —�--.�':_�:.._�.� on roal property.
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<br /> - - E��� 14,in��y on,Lender may emer the property to inspect it H Lender givea Bonower notice beforehand.Tha noUce must state the�eaeonable
<br /> ---��=�{j'�y�y��� causo of r Lendefa inspectlon.
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<br /> - '"r:��"¢� 1g.Cw�dnnnxtion.BoROwer easigns to Londer thepro ceede of any award or ciaim for deme es conneated with e coodemnatton or othet taWng
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<br /> - �'""'�'--=� ot eIi or nny pert of the property.8uch proceods wilt be apptied as provided In Covenant 1. ia easfgnmeM is subjeat to the terma of any prtor
<br /> :�-`_ry:±�.t��;?� security agreemeM. � �
<br /> — �-�=V r� tm,Wa(va.By exerdsing eny remedY evafia6ie to�ender,Lender does not gtve up any�ighte to Iater use any other remedy.By not exerc�tng
<br /> :�� any remedy upon BarrowePs defauit,Lender doea not waive any HgM to Iete�conaidet the everit a deteult H it hepper�a egain.
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<br /> -���r `� 17.Jairt and SwNr LiabYity.� Co�sl�rs: IIucc�s+ors md Aul�s Bound.All duties under t h ia doe d of trust era jotM and seversl. Any --
<br /> °��-��� 8orrower who casipna thla deed of trust but doet not co-sipn the uMer�(ng debt instrumerrt(s)doea so only to prat�t end convey that
<br /> 8arrower's iMerwt In the property to the Trustee under the terms�ot thta deed of trwt.in addition,such s Bonawer a{{reea that the Lender and
<br /> ��:�rw_•T:,,F� enY other Borrower under this deed of Wst mey extend,modi{�or mako any other chanQea in the terms of ttda dead ot trust or the eecuted -
<br /> ' deDt wkhout thet 8orrowaPa eor�sent and without teleaeing that Borrowar from the terma of tAta dead of trust.
<br /> �y}'°��"'Y"". , The duUea end beneftts of thi�deed ot trust shall bind and benefft the euccessors and assiBne of Lender ard Borrower. __
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<br /> - "�; w � 98.Not�cs.Unfess otherwtse required Dy tew,an�t notice to Borrower ehell be given by del(vering it o�by maipnp h by cerdfled meii addressed to v;^
<br /> �,• f:°�M� 8orcower at the prcperty address or em�other atldreas that Bortower has tven to L.ondor. Bononrer tvt!!O�re en�rntlae to Lsnder by cerdtied
<br /> ,,, ,� matl to lendeYe address on page 1 ot this daod of wat,w to any other a�dress which Lender has destgneted.Any other noUco to Lender ahait �--_
<br /> be eeM to Lendar'a eddress as stMed on page 1 of this daed of trust. gFi?'
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<br /> Any nodce sheii be deemed to have bcon gtvon to Borrowor or Lender when given in the mannar steted above. `'`
<br /> _ � � � t8.T�r�atK o!tlw Prop�rty a�Be�Rcl�t t�ns4 tn tM Borrow�►.If atl or any parf of the propeRV or any itnereat M tt la sotd or traristerred -
<br /> without Londer'e pNor written conaont, Londer may demend immedtate paymeM of the secured debt.Lendar may atso demand immedteta
<br /> � �� payment tf the Borrower is not a newra� pe rson end e benefioial interest in the Bortower la�otd or Ven3ferted.Howaver, lender mey not
<br /> .� demand paymeM tn the alavo attuMtons if ft is prohibited by federal law as of the data of thts deed of trust.
<br /> �t. 20.R�cww�yane�.When the obligatlon secured by thia deed ot truet has been paid and Lender has �o further oblfgaUon to make edvances .
<br /> ------a' under tha tnstrumems or aareements seeuted bv thls deed of truat,the Truetee ahalf ueon written requast b�/the Lender,reconvey the trust
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<br /> ' ._..�" ' property.The lendeT ehell del(vet t0 the Borrower, ot to Borrowet'e successor in irdemai,1f10�fWl VOOY O��V 4�0.�:..a N�.:A:o....a,.�.o......o
<br /> _ ,, ob�tgatlon so eatlsfted.Bonower sha0 pay any recordetion wsta. �
<br /> — ' ., R1. Suoa�uor TrustN. Lender, at Lender's o�on, meY removo Ttustee and� appoiM a successor truateo by flret, maiiing a copy of the
<br /> subotitution ot trustoe ae roquired by apptfaable ew,and tnen,b�filing the substiriition ot truetee for record tn the oHice of the reg�stor of dseds
<br /> of each couMy in which 4ho truat property,or some part thereof,is situetsd.The successor trustee,wittaut conveyance of the property,shait
<br /> . succoed to ait the power,dutfea,authaity and dUe of the T�ustee nemod in the deed of trust and of any succeasor truatee.
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<br /> BANKER98Y8?E1M9.WC..8T.C10U0.MN 66301 I1�BOW97•2Y111 FOAMOCP•1AT(}NE 8/18�91
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