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<br /> . I 1. P�ymmt�. �orrower apreea to make ell paymo�t�on tho eocured dobt whon duo. Unioso Borrowor end Lendar oproo otherwiso, any
<br /> peymente Londer recoives (rom Borrower or for Bo►rawor's benofit wili 6e appllad flret to ony amounte Borrower owoe on tha socurod ctobt
<br /> oxcluolvo of Intoront or princlpal,cocond to intorost, and t lion ta princlpsl.If pnrtlol prapoymont of tho soGUrod dobt acuvo for nny ronaon,It wlll
<br /> not roduce or excuee any ocheduted psyment until the eecurod debt le pafd ln lull.
<br /> 1.Cl�im�AaNm2 Tid�.Borrower wpl p�y�II toxe�, a��esemente,and other charpee Attributable to the property whor due end will delend tltle
<br /> to the pwporty apelntt iny ctelm�v�hiCh wou1Q�mpsirihe uen of thlo deed o}tniet.Lendor may requlre Borrower to ossl8n any rlQhte,c!aime or
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<br /> defenaea which 8orrower mpy heve eyalnnt part ee wla supply lebor o�materlel�to improve or malntaln the property.
<br /> 9. In�unnc�. Borrower will keap the property In�ured under terms acceptable to Lendar et Borrower's expensa end for I.endar'e benefit. All
<br /> Ineurence policlo�ehell Inctude�etandard mort ape cleu�e In favor ot Lender.Lender will be named ea loas payee or as the insured on any such ,
<br /> imurence policy.Any Inau�ence proceede meV�e eP�I�ed, withln Lenddt's AlsC�etiqn,to oithqr the rostoretfon or ropair of the demaped property
<br /> • , ,� i or to the�acurcd dobt.Ii Lendsr requlrea mortpaye inaurs�ce,Borrower apree�to m�intaln such 4nsura�ce for ns long as Lender requlros. ,
<br /> 4.Prop�rty.Borrower wlli kesp ihe property In good conditlon end makr all repaire roasonably neceaeary.
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<br /> �� 6.Exp�nws.Borrowsr eqrees to pay oll Lender'e expanta� Inaludinfl reasonsbte ettorneys'fees,If Borrowar 6reako any covenants in thia dead
<br /> . of tr�tt or In any ublip�tlon tecured by thio deod of trutt. �orrower wlll pay these amounte to Lender as provided in Covenant 9 of this deed of
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<br /> ' 8.Ria 6�curkY IntunU.Unieat Borrower firat oblaine Lendor'e written consent,Borrowar wiil not make or permit any changea to any prior .;. •-.
<br /> • security Intorea�a. Dorrower wlll pottarm all of Oorrower's oblipatlona under any prlor mortgage, dend of trust or other socurity agtoomont, ,,�•��_
<br /> � Inciudinp Borrower'a covenante to meke paymente wFwn due.
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<br /> � 3 7.Aqtpnm�nt of R�nt��nd Prollte.Borrower aadpnato Lender the rents snd profits of the proporty.Unless Borrower and Lender have apreed '�{.,':r,�„5__,.
<br /> � : othervvleo In writinp, Borrower mey collect and rotatn the rents as long ae Borrower is not In default. If Borrower dotaulte, Lender, Lender's ;.;,,._
<br /> " agent, or n court eppolnted re�eiver mey take posseselon and manafle the property end callect the rents. Any rents Lender collocts sheil 6e *' --
<br /> ' e Iled first to the coste of mana ing tha ra e g '"��'��
<br /> � � neceseary relatad ex naea.The remafnin emount of e ie w 1 then ac�l t to�a ments on the ecured debt as p ovided(ngCovenen d'eny other ,,e�,,.__..
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<br /> .�,� 8.L��s�holds•Ca�domiNumr,Pl�d UNt D�vNoprnmts.Bor�ower agroes to compty with the provisiana of eny lease if this deed of trust ts on F�-
<br /> ,. , a leecehutd. I�thie deed of trust la on a unit in a condorninlum or a plannod unit devetopmant, Borrower wiil perform ail of Borrower's dutiea �=
<br /> .� under the covenants,by-Iawa,or regulations ot the condomlNum or ptanned unft devetopment
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<br /> ��i4 • 9. Authodty of LNid�r to PxMrm ta Bcfrtow�r.If Borrower tails ta perform any of Borrovrer's dutiea under this deed of huet, Lender mey �'-�-�.
<br /> � por}orm the dutlea or cauae them to be performed. LaMBr may elgn Borrower's name or pay any amount If necessary tor performance.If any r
<br /> constructlon an the property is discontinued or not carried on In a reasonable mannee, Lender may do whatever ia nocessary to proteat Lander's ��'`L..►�+_-
<br />. security Interest In the property.This m�y include compbiing the conatructlon. �"'�""-
<br /> .�,�;. Lender'e feiluro to peAorm wiil not prectude Lo�der fram axercising any of its other dghta under tha law or this deed of trust. _�"=_
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<br /> Any emounta patd by Lender to protect Lender's tecahy interest will be secured by thla deed of Vust.Su:.h amounte w(II be due on dernand
<br /> ; � and will 6ear intereat from the date of the payment u�ti pald in full at the interest rate in effoct on the secured debt. ��=-
<br />, 10. D�fwit �nd AccN�nUon. If Borrower failo to nuka any payment when due or breaks er�y covenants under thfs cJzad of trust or any -
<br /> oblipation secured by this daed of truat or any prbr mortpepe or deed ot trust, Lender mey eccelerate the meturity of the secured debt and
<br /> '' dema�d immediate payment end may Invoke the power of eefe and eny othor ramedies permitted.by eppllcable law.
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<br /> 11.R�qwat ta Notic�of D�iwk.It is hereby�epuasled thet copies ot the notices of defautt and eale be sent to each person who(a a party
<br /> hereto,at the addresa o}each such person,es set forth hareln. -
<br /> 12.PowK o!SM�.If the Lender invokea the power ol4ate,the Trustee shall ffrst recad in 9P�a affice of the regieter of doeds of each county
<br /> � wherein tha truat property or aome part or percel theroot is eitusted e notice of defsutt con2ainl the information requlred by law.The Trustee ��
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<br /> , ehall also muil coples of the notice of defauh to tha Bor�ower,to each person who i�a�rty ereto, and to other peroon� espr eacrl6ed by _
<br />_ ` epplicable Isw. Not less than one month efter tM Trosiee rocorda the notice of defauit or two montha if the trust property is �ot In eny -
<br /> •`•r � Incorporeted city or village en6 ia used in farming o�per�tlons carrled on by the uustor,the fruetee ahsll giva�ubllo notice of sele�to the pnrs�na
<br /> 2i� • � •��; and in the manner prescribed by apppltcabte law.Truates,without demand on Eorrower,ehell sell the prayorty et publio auction to the hiyhast
<br />_ � � '�j: :�� bidder. It requtred by the Farm Homeatead Protealon Act,Truateo shall oNer the property In two separat�salas as requlred by epplicable law. -
<br />==;;p;, :.:.;,� Truatee mey poatpone eate ot ell or eny percel of tha property by publio announcement et the tfine and place of any previoualy scheduled salo.
<br />��j-�:.. Lender or Its doaignee msy purchase the property at any sale. -_
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<br />-r;_ . .�. Upon rocefpt of payment of the price bid,Truatee�hall detiver to the purchasor Trustee's dead convoylnp the property.The racitials contalnod In
<br />.��' °'``° Truatee'e deed shall be prlma facle evidience of the trulh of the statemente containad therein.Trustee ohail apply the proceeds of the sale in the
<br />''-�-^_�^�.�*° toltowinp order: (a) to aii expenaea of tM sele, Inctudirp, but not Ilmited to, reesonable Truatee's feea, reaaoneble ettorney's fees and
<br />''��;.r�<.��L� roinatstement fees;(Dl to eU sums eecured by thle daed of vust,end Icl the halance,if eny,to the persans leyelly entitled to rocetve It.
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<br /> .�r.uv�.aY'I'.A�i on re�pr�operty.at Lender's option,thie deed a�4 trust mny be foreciosed In the menner provide by applicable law for foreclosure of mortgepea
<br />-���t;� 14.Inep�adon.Lender mey onter tho property to Inspact ft tf Lendar gives Borrower,notice beforehend. Tho notico muat state the reasonable
<br />,�,;gyy�x�.�� cauee for Lender's inspection.
<br /> - '==�-�"`-"-"�� 16.Condematlen.Borrower assigna to Lende►7he procoads of any award or claim for dama�gea connectetl with a condemnatlon or other taklny
<br /> �' of ell or eny part of the property.Such proCOOda will be applled es provided in Covonant i.This essfgnmsnt la subjeat to the terma oi any prlor
<br /> i?�� securky apreemani.
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<br />.f,==:��, , 18.Wolvsf.By exercieing any romedy avaiiable to Lender,Lender doea not plve up eny dphts to leter use any other remedy.By not exercistng __
<br />��. ���; eny remedy upon Bonower's dafauh,Londer dooa not wafve eny rlght to latet consider the ovent a defauit if It happons aflaln.
<br /> ;:°`�� 17.Joint and S�v+►N UabiUtv; Co•slpners; Sueclssat and Asdpns Bound. All duties under thle deed of trust ere Joint and several. Any
<br /> -'*a"'-s--- Borrower who co•aipm this deed of trust but does not co•sipn the underlylnq debt instrumentle) does so onty to grant end convoy that -
<br /> j-= '�t Borrowor'r interost in the property to the Trustee under tF�e terma of th(s daod of trust. In eddition,such a Borrower agrees that the Lendar and
<br /> 1!��-�� � any othor Botrower under thte deed of trust mey exiend, modifv or meke any othur chonges in the terms uf this deed of trust or the secured -
<br /> T.��..�;�.;� debt without that Borrower's consent and without reteecing that Borrower from the terma of thia deed of trust.
<br />� '"'' ' Tho dutlea end benef(ts of t4�ia doed of trust shali bind end benn4Yt the euccessora end essl ns o}Lender end Borrower. �•'�'
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<br /> '���.�T'�f ,-, 18.Notie�.Unless otherwise required by law,any notiu to Borrower ohell be piven by dulivednp It or by meiling It by certified meil addres�ed to
<br />_ • :�� Borrower at the property addresa or enY other addressthat Borrower has given to Lender.Borrower wflt give eny notice to Lender by corttfied F-_--
<br />_ mell to LendeYs adUreai on paQe 1 0}thls deed of truaL or to any other eddresa which Lender has desipnated.Any other notice to Londer shall �
<br /> -a ° be sent to Lendor's addrese ee eteted on pape 1 of thia deed of truet. E.'-----
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<br />. � Any notice ahall be deemed ta hove been piven to Dorrowar or Londer when given In the manner stetad above. rr%� ?
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<br /> ;'?• � , 19.Tnn�t�r o}tM PropQrty or a B�n�ftct�IM�nn En ths Bonow�r.If all or any pert of thv praperty or any Interest in it Is sotd or transterced i'��i��-==_-•
<br />_�' without Lender's prior writton consent, Lender mey demand immediute payment of tho sacured do6t. Londor mey atso domand irr.;r.edtato �-T--
<br />=;i , .�,� paymont If the Botrower is not a natural person end e t�eneficlal Interest in tT�e Borrower Is sotd or tranaterred. However, Lendcr moy not �'-�
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<br /> demand payment In the obova aftuatlona If It is prohibited by federel law as of tt�e dato of thls doed of trust. :4��=--
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<br /> 20.Raconwy�oco. When the obligatlon securod by tNs deed of trust has been pald, and Lender has no fuRher obligation to meke advancos :>,;.��
<br /> �; under the Instrumente or agreomente securad by thic dead ot trust, the Trustee shell, upon written requeat by the Lender,reconvey the t�ust :•;�-f;�T_
<br /> ;� ��.�F•� #• property.The Lender shall delivor to the Borrowar,or to Borrower's successor in interest,the trtrst deed and the note or other evidence of the ���ri• �:_:
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<br /> obliflotion so sotisfied.Borrowor 6hail pay eny recordation cost�. +;.u• _�;;-�-
<br /> -' J ii. 5ucc�ssw irus�. ienoor, ac iendera opnon, mey remova irustee and appofnt a auccoasor trustoo by first, mafiing a capy of thB -"
<br /> ��' substitution ot trus4ee ea requEred by epplicablo lew,and thon,by tiling thn substitutton of trustoo for record In the office of the registor of doods • �
<br /> � of each county In whicfi the truat property,or some part thoroof,is situated.Tho successor truatee,without convoyanco of the property,shall
<br /> . succood to ail the power,dutles,authority and titio of tl�o Trustoe namod in tho deed uf trust ond ot any successor trustee. •
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<br /> ' BANI(ERS 6YGTEMS.INC..ST.CtOUD.MN 6830t Il•BOO797•2�N1 fOAM OCP-MT4NE 8/19/81
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