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<br /> � COVEt�ANTS
<br /> . 1. Pwy���anta. EJotrativnr epre�e tu moko nll I�oymonte on tho cecurod debt whon due. Unlean Borrower end Lender eprc�e othotwlee, any �
<br /> pnymento Londcr rccofvoo frorn�orrnwor or for Qorrowor'e bonofit NIII 60 oppllod flrsc to ony omountA Borrowor owoo on tho cocurod dobt
<br /> not reduce ornexcuyes�a y�echeduled paymenttuntkl the eCUred deht le pald In fulL�Propnymont o4 tho cccurocl d�bt occuro for ony ro�r,on, It v�lll
<br /> a.Cl�im�Apakut'dtdt.8orrow�r will pay�II t�xa,es�eeements,md otiwr r.harpeo ariribut�ble to tha property when due ond wlll defend title
<br /> to th�propsrcy�9�Inst any claim�whlch would Impslr the Iien of thi�deed o}tniat.Lender mey requlre Borrowev to nidpn any ripht�,clalme o� ,
<br /> defsnrea whicl�Horrower may hevs ap�lnot pertlee who�upply la6or or materleln to Improve or melntein the proparty.
<br /> �� ,�'' 3, M�w�ne�. Borrawer wlll k��p ths prop�rty In�und und�r t�rm�ecc�ptobl�to I.Ander et Borrower'� expenee�nd for 4ender'n b�nefit. All ,
<br /> Inzurance Dolicles ehall Includs a eta�ndud mortgspe clause in fevor of Len�er.Lender wlll be nsmed e�to�s pAyee or e�the in�ured an�ny such
<br />-==��'�' n:rn thi amurid deb2�It Landit��clulr�mortpape Pn��urincet Boriowai{uyre�a�to�melntein euch�iniurmce for ei lanp�a Lendere,equlree�oporty .
<br /> �� � ^
<br /> 4,Prop�rty.Borrower wtll kesp the property in good conditlon end make eli repalro roasonabiy neceaeary. d_�=_
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<br />°�- T� 6,Facp�mu.Borrower�grese ta pay ell Lende►'�expsntee Inctudiny reasonabte a.;^:cr,eyi'fees,if Bonower breake any covenente In thit deed `u
<br />-" of trust or in uiy oblip�tlon Recursd by th!s daed of truat.dorrower will pay 4heie�^r,�unts to Lender e�p�ovlded 1� Covan�nt 9 of thlt deed of _,
<br /> • � � ttutt. }�-
<br /> , � � �� g,pflM S�cwity Int�r�tt�.Unle�s Borrower tirat obteln�Le�der'e rnrritten conaent, Eorrower will not make or permft eny cNeiges to any pdor __ _
<br />•"��`� � inctuding Borrowsr's o�ovenente�t mak p ymmte�wh��due.bfigetione u�der any �aiar mortpapo, deed of truet o► other aecurlty eyroement. _
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<br /> '`'I 7,Atti of RMU�nd Pratfb.8orrower esciync to Lender the rente and pra5�2e of the property.Urttess Bortawer and Lender hev�sgreed __
<br /> -. �r• ' othsrw w In wHtiny, Barrowu may coQect end rotn�n tha eente as[c��ae f3orrower is not In default. If Borrowar defaults, Lender,Lender's —.
<br />'_.',;.:° •.%�� apent, or� court eppointsd receivar meV tske posseaslon snd mr.r.a;,o the property and collect the rents. Any rente Lender collacta shall be
<br /> 1 sppliad firat to the cocte of m�naQinp tha properry, inotudinp cc::�rt c:sts end ettorneys' feea, commiasiona to rentel egents, end eny�thor
<br />-'"!�„'�4 � necescary related expen:es.The remsrninp amount of rente will the�e?�Iy to pAyment�on the securad debt a�provided In Coven�nt 1.
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<br />'-=i;p�.q.;«; e_����.���;�M�d llNt p�v�{opm�nt�.Borrower apreea to comply with the pravitlona of�ny lease If this deed of trutt is on
<br />- °°`�r- o I�.:chold. (�thls desd of Vuet te on e unit In�condominlum or s planned unit qevelopment,Borrowsr wlll perform ell of Bortower's dutlei
<br />-�`���.�m7c��•� under the covenmts,byI�wa,or ropulottont o�T tM condominlum or planned uNt development.
<br /> -� 3,�`i:�.di
<br />=q.��',�k�,,,+�i g,Authaity of L�r�to?Kiw�n ta 6onowN. If Borrower falb to�perform ony of Borrower's dutles under this deed of tru�t, Lender m�y
<br /> perform the dutle�or ceuso tMm to bs pertormeA. Lsnder mey elgn 9orrower's neme or psy any mmount it necea�ary fa performance.If�ny
<br /> �""�- acurity I tsrost In the p�rortpertyaThii�miy Inciudi completinp ths canitructlonm�nner,Lender may do whetever le neceaeery to protect Lender's
<br /> ���'f j_� Lender's fefNro to pertorm wiil not proclude Lender from exercieing any of It�other riphta under tM law or thia deed of truet.
<br /> .`��,�.� ind witl bear in e�rext�trom hetd�te�of tM pament until ps dtin full at�the intereatrata in�effect on tha secured debt unte wdl be due on demand
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<br /> 1p, p�f�ult �nd Ace�l�r�tlon. If Borrower talis to make any payment when due or breake eny covenante undar this doed ot tru�t or eny
<br /> _t�,yy�� oWiy�tlon ucund by this deed of trwt or eny pHor mort9�pe or desd of trust, Lender mey accelerate the matuHty of the secured deUt�nd
<br />----___—_ d�mand tmm�diate paymsnt�nd may Invok�th�power of s�le and any other remedie�permitte7 by Eppliaabf�law.
<br /> .�;:a,;;;.�3�� 11,R�qwat for NoUc�of D�iwk.It I�hereby requeeted thet coples of the notice�oi dnfeuit and sale be sent to each per�on wha is a party -
<br />-_�.-:�.�z��� �NfOiO��1 itiv iuuioow'v=viC�'i.iSLti�.i30lS.SS��2�4!SI!�Swrwln, _
<br /> -=F^t��:l�� 12.Pow�r of S�N.If the Lender Invokss the pciwer of ade,the Trustse sha0 tirat rocord in ths oftice of ths nplctar ui deeds of��ch county
<br />%;�'�� wl»rdn the trutt property cv�om�p�rt or pecei tl»rsaf I��itwted a notico of dsfauit containinp the Inform�tion r�yulr�d by law. Ths Tr��tee
<br /> shsll dto mafl copis�uf the notice of dsf�ult to the Borrowsr, to each person who is a p�rty t�ereto,and tu other person�a�ptetC►ibed by
<br /> - - applicabis law. Not leu than one month after the Truate�rscorde the notlae of daf�uit or two months i}th� tru�t property fa not in eny
<br /> �� incorporated city w vlllape and la used In farminfl opo�aticns carrled on by the trustor,the'Frustee shell pivs public notics oT��le to the penons
<br /> _�� and in ths mannsr prescribed by�ppplicable law.Tru�tes,without dom�nd on Bonawerr,t�shail sell tM property at pubilo�uotion to ths hiphe�t
<br /> - Trustee�m eupottpoM Is of ill o�i ibnti puceltof thi p�operty by publla innoiineamTant at the time ep�plsce of inyrasvfbutby ichpedulbi�d�ai�.
<br /> `°� 6endx or itc dssfpn��m�y purchaae the propsrty st any s�l�.
<br /> Upon receipt oi psYm�nt ot the p►ics bid,Truatee shall deliver to tha purch�ssr 7rustee's deed convoyin the property.The recltiala contained In
<br /> follawinp o�d�er�(e1�m eilmexpense,y�of the eate�includinflhbut not I�mited�tonreefonibloTTruitss��feeip�reiaonibN wttorfMy� te�a�,r�id
<br /> reinat�t�mant fesr(b)to NI sums secured by this deed of trust,�nd(c)the betence,If any,to th�psnon�legdly sntttied to r�c�lve It.
<br /> 13.For�down.At Lender's optlon,thi�deed of tru�t may be toreclo�ad in the mannar provide by appliceble Isw for forecloaurs of mortp�pss
<br /> on resl propeny.
<br /> `���� 14,M�on.Lender mey sntsr the property to incpeot it If Lender pivea Borrower notice beforehend.The nottc�must etats the roa:on�We
<br /> ��~� causs for L�nd�r'n In�pectlon.
<br /> —° 16.Cond�rr�Uoe.Oorrower easi m to Lsnder thep�oceeda of any eward or claim tor dama e�connected with e candemnatlon or othor takinp
<br /> of all or nny p�ri of the propertY.�uch proceede will be epplied ee provlded In Covenant 1.�le oselpnment i�subjact to the terms of any prtor
<br /> eecurity�praement.
<br /> - -_ 18.WatvK.ltV exarcfsinfl eny remedy e�eltebte to Lender,Lender doen not give up eny riphte to Ister use eny othor remedy. By not exsrciNnp
<br /> _--= any r�mniiy upon 6orrotrsr':Q�.a;sli,L..ndst das:.^.o!!Yele�e!ny r1�ht M�+�ter cor.aldor ths event a defeult I}It heppena ayein. _
<br /> — • �y. �� �nd g�w►r Lf�bYity; Co.�ipr�r, guea�sion and A�sipm Bound. All dutie� under this d��d of trust ue �olnt and teveral. Any
<br /> Barower who caaiAn� tht� deed of tru�t but does not co-slpn the underlyinp dsbt inetrum�nt(�1 does eo onty to prent end convey that
<br /> "��� 8orrowar'a Interoat in the property to tM Trustea undsr the terms ot this desd oftru�t.In�dditb�L�uch�Borrower�prsns thst the Lend�r�nd
<br /> �+�i� debt wl�thout tlut Borrower e�consent end wittlout retss i lnfl tha�t eorrow�e rfrom the terms ot thie deed of ms�i t h i s d e e d of V uat or the�ecured
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<br />---- --�—: The dutles snd beneflto o}this deed ot trust n(�oll bind end beneflt the aucceesoro and assipns of Lender�od Borrower.
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<br /> __ ;���.�.;,�.� 18.Notic�.Unlese otherwise roqulrod by lew,eny notice to Borrower shall he gtven by dellverinp It or by melliny It by certifisd meil addres�ed to
<br /> - �■ Borrower et the property addreae or any othor addrnee that Borrower hae�iven to Lender.Borrower will plv��ny not�ce to Lendet by certiti�d
<br />- �`"�"'�� mafl to Lendar'e addrese on pape 1 of tf�le deed of truet,or to any other e dress which Lender hae deaipneted.Any other notice to lender sh�li
<br /> ����x�,a;�T;j� bc eent to Lender's addreas ee stated on pape 1 of thlo desd of trust.
<br />".-.My�:1���Y
<br />-�:�'"�;�'lrx Any notice eheil be deemed to have been piven to Borrower or Lender when given In the menner stated obove.
<br /> _ G�;:
<br />-'•° �,��: �g,T��}�o}�prap�y a�B�fleial Irn�r��t(n th�Baanwar.tf eil or eny paR of tAe property or any Interoat in ft fa sotd or tranHerred
<br /> ;L����:��;, without Lender'� prlor wrltten con:ent, lsnder may demand Immedtaio paymant of tho socurod datt. Lender mey eiao demand Immedlete _
<br /> __sa;,.`�". �.�:�t
<br /> demandtpayment�inihe ubove nituatlonsrif ii Is p ol�b ed by tederel law es of the date of thla deed�o}truat neforred. However, Londe► m�y not
<br /> 20.R�conwyanes.When tha obiigetion eecurod by this deed af trust hea been pafd, end L�nder hae no further obilgetlon to make edvances
<br /> ���p� under the inetrumentn or eyreemente eecured by thls deod of in,st,the Trustee shall,upon wrkten requeat bV the Lender,reeonveY the trost
<br /> ��` �a �.�: pro erty.The Londer ehall deiltar to the Borrower,or to Borrower's cuccessor in intetost,tho trust deed end the note or othor ovidence ot the
<br />:';;�';�w. ��,^,�,• obiPdetion su setlefied.Borrower shell pey eny rocordetlon coste. —
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<br /> 21. Suac��sor Tru�t��. Lendet. at Londer's option, may romove Trustoo end eppolnt e succoasor truetee oy ivet, meiiing e copy oi mo _
<br /> � � � subatitution o}truetoo as roqulrod by appllceble Isw,end then,bY fiiin the eubatftution of trustee tor reeord In tho office of the repister of dueda
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<br /> ' � , succeed to ell ih p wer tdu21 eeeuthoriy e d itito otiho Tru t o ne�ad In thu doed of trust end of eny�succeseorVtrueteo,of the property,ahnll �
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<br /> ` • . , BANNfflS 6Y9iEMS.INC..ST.CLOUD,MN 86301 11•800•397•23411 FORM OCP•MT6•NE 6l18/81
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