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<br /> t. P�ym�nt�. Borrowor apreoo to meko ull poymonto on tho oocurod dnbt whon duo. Unlcse 8orrowor anci l.ondor aflmo othe�wlse, eny
<br /> poymonto Landor rocolvoo from Dorrowor or �or Borrowcr'o bonofit will bo appUod flret to uny emounte Elorrowor owos on tha eocurod dobt
<br /> exclualve o}Interee4 or p►Inclpef,second to Interest,ond th3n to princlpal.If portlnl propoyrnont of tho uocurod AaNt�ccura for any ronaon,It wlll
<br /> not reduce or excuao any ochpduied paymen4 untll tho eecurod dobt le Reid in full.
<br /> ' 2.Cldm�ApNn�t TiB�.Borrower wiiFp�y��t�x�s,e�ieaemenis,and other cherqaa ettribut�bte to the pro�erty when dua end will defend title
<br /> to the Draperty e�p�Imt�ny cldm�which wuuld Impafr the Ilen of thl�deed of trust.Lender may requlre Oorrower to aasipn any riphte,clelme or
<br /> �: . defenie�which 6wrovyq�fn�y hqV�ap�intt pertlea who aupply labor or meterfeie to Imprave or mefnteln the property.
<br /> 3. Intur�nc�. Borrowar wlll keep the proparty Ineured under te�mi acceptable to Lender�t Borrower's expenae end tor Lender'� benefit. All
<br /> In�uroncn policle�ehall Include e standard mortpage clauae in favor ot Lender.Lender wlil be named ee toee payee or ea the In�ured on eny such
<br /> ✓;..� Insurence pollay.Any imunncs proceed�may be a�plled,within Lendor'c di„crotlon,to olthcr tha roetoretion o��epalr of the dameged proporty
<br /> or to the�ecured debt.If Lender roqulre�mortpepe nsurance,Borrowar�pree�tu m�lntaln wch Insurance for ee lonp ee Lender roqWree, '. ;i;i
<br /> ,;;�r��'"i"� 4.Prop�rty.Borrower will keop the propertY In pood condition and make all repaire ressonebiy necossary. .;
<br /> ��w+""��. 6,Exp�ns�s.Borrower syreee to pey ell Lender'e expencea,includlnp reasonabte ettorney�'feee,i}Borrowor 6reeke ony covanante in thla doad ,
<br /> � of truet or In eny obligetlon secured by thln deed of uuet.Barrower wiil pay theso emaunte to Lender sa providad In Covenent 9 of thie dedd ot ',.i�:
<br /> ,.• :�
<br /> ^ ' i truat. .'.;-'
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<br /> . 6.Pdor S�CUdty tnti��st�•Unles�Bnrrower firat obteins Lender's written cansent,B�or�morrt a�ian deedaof trust orf othor ocur/ry�apreemenL ��'��=�•
<br /> secur(ty intereste. Borrower wfll perform all of Borrower's obiigoUons under any p g 9 � � ___
<br /> Inciuding Borrower's covenante to make payrnents when due. __
<br /> a, 7.As�ip�m�nt of R�nts�nd Proflte.Borrowar as818n&to Londor the rents and profits of the property.Unless Borrower and Lendor have agreed =4 _
<br /> otherwise fn wrfttng, Bor►ower mey coltect and retaln the rents ee tonp as Borrowor ia not in dofault. If Borrower defaults, Lender, Lendor's --
<br /> agent,or a court appofnted receiver may teke passession and manapo the propnrtlr and collect the rents. Any rents Lender collecte shall be �
<br /> . � � applied iirst to the coste of managing tho property, Includinp court costs and attorneys'feea, commisalons to rontal aqer.ts.and eny other
<br /> neceasary rnlated expenses.The rematning amount of rents will then apply to paymente on the secured debt ea providod in Covenant 1.
<br /> 72• B.l�as�hdds•Condominiumt:Ptarw»d Unk O�vN°ix^�nt�.Borcowe►epreos to compty with the provisions of any lesse If this deed of trust la on
<br /> •�'t e Ieasehoid.I�this deed oi ieusY is an a unk In e condominlum or e glanned uMt developmont,Borrower will pertorm a(I ot Borrower'a dutiea `
<br /> under the covenants,by-laws,or reflulatlona of the condominlum or planned unSt devolopment. ___
<br /> " S 9. Authotity o!Lender 4o Pafarm fo► Bwrow�t. If Borrower fella to poriorm any of Borrower'e duties under this deed of truat, Lender may _�
<br /> construnt on ont�the pTroperty�s discontinu d or not�cer led on in e roasonrab eeman er,Lendeey ey do whatAVe rl8�necesseryt o p toct Lender'e
<br /> �r.. , socurity Uterest in the property.This may inctude comptetinp the construction. �_
<br /> 'rI �', Lc�ndor's fallure to perfotm will not preclude Lendar trom exerciaing any of its other rlghts under the taw or this deed of Vurt. __
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<br /> . �'` and w U besrelntorest from the date ot fhe peyment until paid�ln full eti�theelnternsttlate In�etfeit nf the secured dobt unte will ba due on demand =
<br /> %'`"� "' � 10. Defwit�nd AccN�ndon• If Borrower tails to make any peyment when due or breaks any covenants under thia deed of trust or any =—
<br /> "�"��•� obligation ser,urod by thls doed of trust or any prior mort�,aye or deed of trust, Lender mAy accelerete the maturity of the secured debt end
<br /> ��•'ttr�, � domand Immediate payment and may Invoka the Dower of sale and eny other remedies permltted by epplicabie lew.
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<br /> =i�:r��•` _,�p., ��_p�uurst fot Nade�of D�foult.it is hereby requasted that coples of the noHces ot defaul4 and sals bo eent to each porson who la a party
<br /> y I�� °;+ hereto,et the eddross of eacn sucn perso��,6o bK SCiih!i.^.selz.
<br /> � �` i2.Pow�r of 8ab.If the Lender invokea the power of sete,the Trustee shall Yirst rocord In the oNice of the repister of deeda of each county
<br /> - whureln the trust property or some pa►t or percel thereof is situated e notice of default contei�ing tho informa4ian requirod by law. fhe Ttustee
<br /> • �•� IEYO, and to other porsons a�pre�scrlbed by
<br /> sAall also meil coplea of the notice of default to the Borrowoa, ta each pereon who is a pariy he s not in any
<br /> '':�.;1j.',� : •, appiicable lew. Not lesa than one month after the Trustee rc�aoMs the notice of defautt, as two montha ii the trunt property i
<br /> IncoTporated city or vitlaqe and ia uaed in farminp oparationa canied on by the trustor,the T►ustan ahall glvo publia noticb of sale to the persone
<br /> and In the manner preacribed by eppplic�ble law.Truetee,without demond on Borrower,thali aell the property at pubiia auatlon to the hiphest
<br /> =.'"E�'��;••r'';, bldder.If raquired by the Farm Homestaed Protection Act,Trustee shall offer the propenv In two separote selea as requirod by oppUcoble Isw.
<br /> a_�,��A;,.� Trusteo mey postpone sete of ell or eny parcel of the property by public ennouncement et the time and place of any provbuely scheduled sale.
<br /> Lender or it�deciQnee may purchase the property at any sele.
<br /> ;,�i�;r���
<br /> -t%`�!r �' e. Upon recetpt of paVment of the pAce bid,Truatea shall deliver to the purchaser Trustee'e deed conveyinp the property.The rocitlals contained In
<br /> `�u*��'+� Trustee's dead shall be prima facie evidience of the truth of tho stetemente contained therein.Trustea shali appty the proceeds of the sele�n the
<br /> '�`��y+� ' fotlowlny order: (a) to ell expsnsec of the eata, Including, �ut not Iimited to, reesonabte Truatoe'e feea, reasonebte �ttorney's fees end
<br />'"���'.`:��- rein�t�tement tees;(b)to all sums secured by this deed of trust,and (cl the balence,if any,to the peraons legally entttied to raceive it.
<br /> __""""��T,S 13,Fonctotun.At Lender'e option,thls deed of trust may be faectosed tn the menner provide by appitcablo law for forocloauro of mortgepea
<br />_-_--°v' on roal property. �
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<br /> -�;� "c^ 14.Insp�ction.Lender may enter the property to inspect it If Lender pivea 8orrowor notice beforehand.Ths notico muat steto tha reasonable
<br /> - .t�.:_...
<br /> _ n ceuae Tor Lender'e inspeotlon.
<br /> 15.Cond�allon•Borrower essi ns to Lender the proceede of any award or cleim for damc��pea connectod with a condemnation or other takinp
<br /> "�:•'�, ' , ot ali or any paR of the propertY.�uah proceeds will be applfed es provided in Covenent 1.7hie aaaignmont la subject to the terma of eny prior
<br /> '-�=-�:� seaurtty aproement.
<br />"`��,w�, 18,Watvx.By exercisinp any remedy avaflablo to Lender,lendar doee not give up any rights to Iater uao any other remedy. By not oxercisinp -
<br />';1,��'"E�� any remedy upon Borrower's defauit,Lender doea not waive any ripht to Iator r,onsider the event a defnult if It nappens ap�tn.
<br /> _;,:�� 17. Joint�nd Sw�nl U�p�ty Co•sfpMn: 9uco�aon �nd Attlpni Bound. All dutiea under this deed of truat aro �oint end sevetal. Any ^,
<br />�;,�_�-.� Bonower who co•aipns thla doed of trust but doea not co-alyn the underlyinp debt Inatroment(a) dooa so oniy to qrant and convoy thet _-
<br /> _��y Borrower'a intereet fn the property to tho Tru�tee under the termiys 0af thf�deed of vuet.In eddttfon,such a 8orrower agraea that the Lender end ____
<br />- _'`'�"';�`�;5�;� debt without the B�rrower e�consent end without releas�ing thet Borrowe rfrom tho terms of this deed of trust this deed of truet or the secured
<br /> - „y�`'`"m• .
<br /> "r"�'>"`� The duties and benetite of this deed oi vust ehall bind and benefit the succassare end asatpna of Lendor and Borrower. 4
<br /> _�:•.�_:•t�� . �, ��:.
<br /> ' ��`° 18.Notic�.Unlese othorwise roquited hy law,cny notice to Borrawer shall be given by deliverfnp it or by malliny it by certified mail addreaaed to - ,
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<br /> Borrowur at the property eddross or any other addrass thet Borrower hea givon to Londer. Boerower wiil pive any notice to Lender by certified c:•-=
<br /> +. , be�seM t rLenders edd esa ea etetedfo Ip 8a 1 of thla d erd of Vustther e�ldress which Lendar has deslpneted.Any other notice 4o Lender shall
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<br /> ` `��' Any notioe¢hall be deemed to t��eve boen g►ven to Barro�ver or Lender when pivan In the manner ateted ebovo. �v
<br /> '�� 19.Tnmfrr of tM Propnty w s 8�ns1{ci�i Uit�n�t In tl+�Ba�owM.Ii all or any part of the prope r t Y or any interest ln it�s sold or trensferred m;
<br /> wkhout Lendar'e prio► written cansent, Lender mey demanc4 immodfate payment of tha �acutod dobt. Londer mt�y also demand immediete �,:,;
<br />'�.� , �, payment It the Borrower la not a natural person end s banaficiai intoroct tn the Borrowor is soid or tranaterred. Hov�ouer, Lender msy not Q--
<br /> demend payment fn the ebove aituotions if it is prohibited by federal law ae of tho dete of this deed ot Vust.
<br /> a:�
<br /> � «��'• 20.R�conv�Yanc�.Whun tho obi(getion secured by this deed of trust has G�pon paid, and Lon der has no furthar obligatfon to mako advances :`__
<br /> _ x...,
<br /> t- under tho Inetrumente or eprooments secured by this deed of trust,the Trustoa shall,upon writtan requont by tho Lendar, reconvey thu Vuot
<br /> � '�� proparty.Tho Londer dhait deliver to tho Borrower,or to 8orrower's succossor in Intorest,tho Vuat deed and the noto or othor evidonce of the
<br /> � obl i flatlon so setisfied.Borrower shall pay any recordation costs. -€ °
<br /> '�—ti'__i�..—
<br /> Zt. Succ��sa Tru�t�e. Lendor, ot Londer's option, may romove Trustoo and appoint a succossor trusteo by tirst, memng e copy oP ci,o ���-•
<br /> substftution of trustee as required by appltcabia law,and then,by filfng tho sub�titutlon of trusteo for rocord in tho nffico ot tho rogister of deeds ,�_
<br /> of oech couniy in which the trust propurty,ar somo part thotoof,ia situutnd.Tho�uccossor truatoo,wtthaut conveyance ot the proparty,ohall �,r•:
<br /> � succeed to u��tho powar,dutiea,authority nnd titlo of tho Tructee namad In tho deed of ttust nnd ot ony succossor t�usteo.
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<br /> Ipsge 2 Of 21
<br /> -. �� OANKERS SYSTEMS.INC..5T.CLOUD.MN 6830111-80P797•2�411 FOAM OCP�MtO-NE 611ON1 _
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