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<br /> I GOVENANTS C��� ����(��� `
<br /> ' Iiod first to nn amounta Dorrowor owoa on tho oocurod dobt
<br /> ,. 'I �, p�yrn��ti, Borrowor oflrooa to mulco oil paYmonto on tho aocwud dobt whon duo. Unloaa Borrowor nnd l.ondor nproo othorwlao, any
<br /> � puymont� Londor rocoivon from Borrowor or for E3orrower'e benefit will bo opp 1�
<br /> excluaive of interest or princlpal,second tu intcreit,end thon to ptlnclpel.If portlal prepayment o9 the aocured Aobt occura for uny roason,it wlll
<br /> � not raduce or excu�e any scheduled peyment untll tha�ecund debt I�pald In full. •
<br /> , { o th�e�ro A9rt�v�ept�nat iny cl�ma wwhich wo�dd Impafr the 1 en of thl�deedeof trW��Lendabumiy requfhe Borro�wer Wo en�gn ny r phte,�clalme�or
<br /> •• defentes whlc�h 6orrower m�y h�ve�gatntt partlas who suppty 1�6or or m�teriale to Vmprove or m�tntaln ths property.
<br /> 4 { 3, Intur�na. Borrowcr w�i� hoop tha property�neured undor terme ecceptable to Londer et Borrower'e axpense end fa Lender'e henefit. Ali
<br /> Inaunnce pa��cle��h���^=urence proc�di msyrtbn��pp�led�withfn Lendern ditcr�ton,t��elther hereita ation�orrepalr of 4he demeped prope ty
<br /> � insurenco policy.Any
<br /> " or to the necurad debt.If Lender requlref mortqege Inaurance,Borrovyer epreee ta melnteln auch Insurance for as iony es Lender requiree.
<br /> ;,r�:*,rs:�'. 4,Propsrty Bortawnr will keep 4he property In pood con�ltion end meke eil repslre reaeonailly necesaery.
<br /> •.,• •""►' 6.Expens�s.Barrower egraea to pay all Lender's expencee Inctudinp reasonnbte attorneys'lees,if Rorcawer breake any covenente In thle deed
<br /> ' � of trust ar in�ny ohllpntion eecured by thls deed of trust.F�arrowe►will pay theae nmounta to lender os provided In Covenent 9 of thla deed of
<br /> uust. .
<br /> • � 8.Pdor .^��cudtY�MM�s�+.Unless Borrower flret obtelna Lender'e writton aonsent, B�or mortg Be�deed of trust�or�other aecurity taproumentr } .;`'
<br /> � 88curity �ntOrpStB. Boi�owot Will PE�fOrm stl of Borrower t oblipations unde� any p _ _
<br /> includirtg Botrower'R covenantn to mtke paymente when due. -
<br /> . � ��.-_,
<br /> �� othe�w s�In W►t�R poWE�omBy Co11CC end ro9alnttheerentstea long ae Borrower�latnotpinpdof ult�If Bonower defaultee Lvndore,�Len�der'e �.�.
<br /> •' � agent, or a court eppointed receivCr mey take posseaslon and menage the ptoperty ond coltect the ronta.Any rents Lender callecte sheit be -��
<br /> ' nece�ssafry�el ted expensosf Tho remaining n uunt of rente will then appiyt to paymente on thp se u od dobt as provided IngCove�en dleny othor � i;
<br /> 8.Lessahdds•Condorni�ums;Pfann�d Unft Devdopruonia.Oorrowar ogrees to comp l y with the provisions of nny lease if thfs dead of trust is on �'_
<br /> a leasehold. I�this deed of trust la on a unit In n condominium or e plan�ed unR development,Borrowot�viil perform alI ot Borrower's dut loa ��'r�
<br /> ° :�'. under the covenants,by-laws,o�repulations of the condominiu:n or plonned unit detio:opment. — •
<br /> �� 9.R���y o}���d�r tu pe{otm far Bortow�r. If Borrower fails to pertorm eny of Borrower'e duties under this detsd of trust, Lender may
<br /> , ��. perform the dutins opr cause them to be performod. Lender may sig�Borrower'e name or pay eny amount(f necessary for performenca.If any
<br /> }� securi��interest n the p p�ortYaTn Snm Y include r,ompie�tinfl the co�ns tuctionmenner,Lender m�y do whatever Is necassery to protect Lender'e -__
<br /> tY
<br /> ���• Lender's feitura to pnr(orm wlll nut P►eclude Lender from exercising eny of ite other rights undar tha lew or this deod o1 trust. __--=
<br /> end wii bear inte�restYf om the date of tha payment untfl pa►dtin full ttlthe intereata ete in effect onf the 6ecured debt unYS wiH be duo on d�marui *
<br /> - when due or bre�ks eny covonante under thEa deed of trust or any 1�'°�.�
<br /> �?�, �p, pe{wlt�nd Acs�lontlon• �f Borrower feila to make eny payment �.___
<br /> �•.��^�•;'� ' obligation secured by this deed of truet or any pryor mortg�pe or deed of truat, Lender mey accelerate the meturity of the aecured debt a e
<br /> ,� '.,�,g demend Immedlete payment end may fnvoke the power of aale end eny other�emediea pavmitted by applicable I�w. -
<br /> � ` ��'' IierotRa at tho eddress of each��Person gasyset forth hereln.y��i8o°f irw r.�:�a!d�le�!!t!++�!�le bo sent to aech persan who is a party __
<br /> ��� �2,p��w of SM�.If tho Lender invokea the powar of sale,the Ynrstae ehail firot record in tM office ot the repister of deeda of each coonty
<br /> • • � wharoin the trust propertY or same part or parcel thereof is situa:oQ a notice of dofoult canteini the informat�on requtred by law.The Trustee
<br /> 4s not in eny
<br /> sheli aiso meil copiea of the natice of detau�t to the Borrower,to anch person who is a party ereto, and to other persons as rescribad by
<br /> . ' �� inco�rporeted city or vefa�e and�s u ed In tarml�g oparetions carried onhby the trustor�the��frustee shell elve pubUa noticePOf sele o tho porson�
<br /> y� Ifceble law.
<br /> �� • and in the mennar W the�Far�m Homestoe�PtotoctionEAaet,Trustoe shall ofdfer ther�ropor�i yBin�two�sepapate ea�s aa required by eppthe higfiest
<br />-'.;,,..., bidder.If requlr6d a�8ate of allor ony D�QeI of tha proporty by publtc announcemenII attho timo ond placa of ony prevlously schedubd sele.
<br />:,.',: ., �� � Trustee meY po tpo at nny sele.
<br /> } _.;..t Lender or Ite destynee mey qurahese tha proportY Tha recitlals conteined In
<br /> ��'''�"i+� n receipt ot pa mont of the pdce bld,Trustee Fhall daliver to the purchaser Tvustea's deed Convayin thu proporty.
<br />-_ Gs..:.,.;,.. Upo �
<br /> Trus[ee s deod sha I bo prime fecie evidience of the truth of tho statements contained thereln.Trusteo s ell apply the proceeds ot the sHe in the
<br /> , e�nitetement feese�lb)to�all cuma sacur�d by this�deeduof�trust uend lc)thet balence,it any,bto t e per¢ons Iogeliy ont tled�tor eceiva�t,feea sM
<br /> •,,i
<br />_�#.��*'=��'` 13,ponclown.At Lendor'e optfun,thls deed ot trust may be torectosed in the menner provide by eppticable law for forectosure of mortgages
<br /> _ -=..`�=j-,;;.� on real prope►tY•
<br />_l�`?�F`-"',� 14. IruAetNon•Lendor may enter the propertY to inspoct it if Londor gfv�s Borrowor notice beforehand.The notice muct stata tho reasonable
<br /> -•1,:�; cause for l.endor'o Inspect�on.
<br />-',;•it'�'_�� i6.Cond�tnn�tlw�•Borrower asalgns to Lender the proceeds of any ewarQ or cl3irn tor damag ns connectod with e condemnation or othor tsking
<br />-Y.' `„-, ot al!or eny part of the propertY•Such proceeds wfll be appt�ed es provided in Covanant 1. 7hie esslynment le subJect to the terms o4 any pdor
<br />-i-V;����; socurity agreement. _
<br />,,,:;in<�� 1g,liUsivN.By exarcising eny remedy evaiiab�o to Lender,Londer does not givo up any dghts to later use any othens agalny�Bd noi exercisinfl
<br /> eny aemedy upon Borrower's deteuft,Lender does not walve eny right to later conalder tM evanS a dafault if It happe -
<br /> `'-� '�^� • Suce��sen �nd As�lyns Bound• All dutiea u�der this deed of trust are joint end severnl. AnY --
<br /> c���.:: . �y g
<br /> �!�,,,�±•,.. . 17. Jd»t �nd Sevaral Li�bNitY:Coalpn�n.
<br />--;��:;T` 8orrower who eo•slUna thls daod to the Trustae under the t rms of thls deed of t�uatt In additfon�such�e Bonawe�grees th�t hi LendertorK3
<br />.�C, .� ,,� Borrower's interoat In the propertY
<br /> __.{.,�,�jr;r.a,�: eny other Borrawer under thia deed of Vuat may oxtond,modi or meko any other changee In the terms of thta deed of uust or the eocure
<br />-=-�:;�,...{. debt without thet Borrower'e consent snd without releasing thet�orrower from t1�o iorma of thls doed of Vust.
<br />—=:�r,�.
<br /> ���- �•� The dutiea and benefits of thfs deed of trust shel:bind er.d benefit tho succe6sors end aaaipns of Lender end orrower. -�
<br /> ,.: . —
<br /> � 1g,Notic�.Unless otherwise required by law,eny notice to Borrower shell be givon by deliverinp it or by mafling It by certifiod mali addresse to
<br /> . � •� Borrower at the propertY eddrese ur eny other nddresa that Borcownr has giva�to lender. Borrower will give any notico to Lender by cort(fied _
<br /> mail to Ler�dor'�oddresa on page 1 of th!a deod of trust,or to eny other eddreua v�hich Lender has desipnatod.Any other notice to Lender ahall
<br /> be sont to Lendor's eddress as stated on pnge 1 of thia deed of Uust. �
<br /> '.�'��'" � An�r notico chall bo doemed to havo boen Biven to Borrowor or Lnnder whnn given in tho manner statod above. `_`
<br /> � 7g. Trsnster of tM PropKtll a s Bw»fidal�nt�rat In tM Bortowma.It all or any part ot the p:o�ariY or any fntarost in it is sold or trensfertad �_-
<br /> wi�haut Lende►�a P��or writton consent, Lendor moy damend immadiato payme�t of the secu�md debt. Lendor may elso domnnd immadfato -�'
<br /> psyment if tho Borrower la not a naturel percan end a bo�eflcial Intorest In tho Borrower le sold or uansferred. However, londor may not E,.!
<br /> I'
<br /> � dem�ntl payment in tho above situations if it fs protiSbitod by federal law as of tho dato uf thfs doed of trust. �;-,
<br /> ,��I 20. R�convaYa�c�•When the obligetion socured by this doed o t uust has been pa t d,en d L o n d o r h a s n o f u i�c h o r o b l i g a tion to make odvanco� ~
<br /> undar the InsVuments or egreemenn eecurod by thia deed of trust,tho Trus4ee shall,upon written requost bV tho Lender,reconvey the truat t,c
<br /> �'�---_ Y...,,...., t r�L a n d e r a h a il delivor to the Borrower,or to Borrowor'c succosso►In interest, the Vust doed end the note or otfior ovidence ot ihe
<br /> - N....._.„. ..
<br /> � " � obltgatton so aetisfled.Borrqwer shau pay eny recoroaii'v��caa.o. -
<br /> � 21. Succ�star Truate�. Lendor, et Len�ler's option, may remove Trustea and appoint n successor trusteo by firat, matling a copy of the
<br /> � substitution of trustee as requirod by applicable law,and then,by filing the substftutton of trustea for rocord In the office of the register of doeds
<br /> " , succeod toual�ho power tdutieas authort�y and title oft ho Trust e namedat�odl�e deed oTettust endsof anyfsuccessor trtYistee,of tho Rroperty,shnil
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<br /> (p�8e 7 0l?J
<br /> �. ' ' � BANKkAS SYSTEMS.INC..ST.CLOUD.MN 66�01 It•6003?7•���71�OIIM OCP�IATp-NE 8�1991 --
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