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<br /> 1 1, Poyrncnto. f3nrrownr nprone to mokn all poymontn on tho sOCUred dobt whon duo. Unlonn Bonowor and Londor ufltoo othorw so, ony
<br /> peymonte Lendar rocorvoa fiom 6orrowor or for Borrowot'o bonoflt will bo oppllod firot to any nmounto Borrowor owoo on tho aocurod clobt
<br /> I not reduce or excue9�eny�icheduted peVmant untll the 6EC rad dobt Is�peld In}ulj�l prepoymont of thd oocured'dobt occure tor uny roaeon,It wlli
<br /> " I 2.Ci�lrnw AyNmt Titl�.Borrowo► wlll p�y ell Ux�s,esceeaments,end other chargee ettributebla to the property whon due and will detend t�tle
<br /> � to the proportY apeinst any cl�ima which wquld Impelr tho Iien of thle deeJ af truat.Lender mey requite Borrower to easlpn any riphte,clelma or
<br /> defen�es whlch Borrower m�y heve�p�imt p�rUet who supply labar or materlete to Improve or mafntaln lhe property.
<br /> i 3.Inainna. Borrowet will keep the property Ineured under torme accepYeble to l.ender et Bor►ower's oxpenne end for L�ndor'e benefit. All �'
<br /> Inaunnce policlaf ahaii includa�atrnderd mort apo cluu�o In favor of Londcr.Landar will bo nnmed ee loes payoe or us the insured an ony such
<br /> ' orsto tho secuied debt�If Lender requlrei��noartQ�pe Piu�anca�t Borrower�epre�es to�mainte ntsuchhnsurance tor as lonp�as Lender requlrea roperty
<br /> A.Pto�rty.Borrower wtll keepthe property In pood canditlon and make uil repeire raesonebty neeessery.
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<br /> �� 6.Exp�ns�o.Borrowar aprees to pey ail Lender'e expensea I�cluding reaaonablo attorneys' feeo, If Borrower breaks any covonants in thla deed ;
<br /> of trust or In any obll�etlon secured by this dead of trust.�orrowar will pey these amounts to Lender as provided fn Covenent 9 of this deed of
<br /> truet. -
<br /> � B.Pria S�curity Intan�t�. UNesa Borrawer iirat obtalna Lender'o writtnn consont,Borrovier will not mako or parmit uny changos to eny prfor
<br /> securfty intermste. 6orrowec wlll perform eil 0f Borrower's o6ligotlona under any prior mortpape, deed ot truat or other socurity agreement, � ., •=_oF
<br /> Includlnfl Borrower's covename to meke paymente when due. t�y
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<br /> - � 7.Asdpnm�nt ot R�nts md ProBb.Borrower assigns to Londer the rents&nd proflts ot the proporty. Unless Borrower end lender have agreod sr 1�,k'r,a..
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<br /> otherw�ae In writing, Borrower mey collact end retaln the rents ae lonp es Borrower Is not In dofautt.If Borrower defaulte,Lender, Len er e �•:�-_?�.-=:-
<br /> � agent,or e coart eppolnted receive► may tako possesaion and menago the property and colloct the rents. Any rents Lender collecta sheli be , •�_._
<br /> epptied first to the costs of inenaging the property, IncludMg court coste and attorneys' tees, commlasions to rental agents, and any other 'a��•�, �.��
<br /> i � necossery rolated expensea. The rema�ning emount of rents wlll then apply to paymente on the secured debt as provided in Covenent 1. � _
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<br /> 8.Lnacchald:-Coadortdrtlume;Plartned Unit b�v�lopm�nu.Borrowar agreea to compIy with the provisions of any lease if this deed of trust is on �;,a___
<br /> " e teenehold.N this deed of truat la on a unit in a condominium or a plannod unit development, Borrower will pertorm all oo Borrower's duties ;r���.,
<br /> under the cavenants,by-I�wa,or reyulatlons of the condominlum or planned unit developmant. __
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<br /> g. Autfiority of l�nd�►ta Pefo►m ta Barow�r. If Borrower fails to periorm any of Borrower's dutiea urxier this deed of trus4, Lender may �... ..
<br /> peHorm the dutlea or cause them to be pe�formed. Lendar mny eipn Borrowor's name or pay any amount if nocesaery for performance.Ii any 4:'";�r�,:
<br /> ;• construction on theproperty Is discontlnuad or not carcled on in e reasonab�e menner, Lender may do whatever fa nacessary to protect Lender's =„�;,�_
<br /> : socurity interest fn the properry.This mey include completiRg the constructlon. --_
<br /> • �;, Londer's failuro to pertorm witl not prectude Lender from axercisinp any of ite other rights under the law or thfa deed of trust. .ra�t<'
<br /> , end wtil boareinte�drestYhom the deLe of the payment unt I pa dtin full�ti�the Intere8t�rete in�affect on the usecured debt u a t s w i�l b a d u e o n d e m a n d `^�"
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<br /> 1tl. D�fa�tt�nd Acc�l�ntlon,If Borrower feils to make any psyment whon due or breaks e�y covenante under this deed of trust or 8ny -
<br /> � r de�mand fmmedia e paym�ent e d may lnvoke the p�ower oi sale end any other remedlesdpermit�ted by appllcabte lawurtty of the secured debt and :�
<br /> - „ '� ��.A�w�������i�z��t�..l.�,.•!.;.3•hef�by•!���pa�ad rhar conies of the noticea of default and sale be sent to each p�rsan who is e party '�
<br />�� ' hereto,at tha address of each euch person,ae set forth here�n.
<br /> � 12,Pows►of S�le.If the Lender Invokes the power of seio,the Trustee shall first record in iha office of the register of daeds of each county
<br />: whereln tNa trust properry or some part or percel thereof la situated a notice of defeuit contalninp the info�mution requfred by lew.The Trustee
<br />- ahafl also mail coptes of the no4ice of dafault to the Borrower,to each person who fa a party hereto,and to other pereons es prescri6od by
<br /> oD9��cable Iaw.Not leas than one month after the Trustee records the nottce of default, or two montha if the trust praperry IA not in any
<br />::r� • � . fncorporated city or vilieye and is used in farming operetlona carried on by the trustor,tha 7rusteo shail ylva publtc notice o4 sele to the persona
<br />=„x�: �' � and in the manner pre:cribed by�appplicabte Inw.Truatee,without demand on Borrower,ehall sell the property at pubiio auctlon to the hlyheat
<br /> ° � � bidder.tf requtreJ by the Farm Homeeteed Protection Act,Trustee ehall oHer tha property In two separete salea ea required by applicable law.
<br />�°' " ' ' Lende eor�ite desfgnee may purchase tho paop rty at any sale�by public announcement et ihe time end pince of eny pteviouely scheduled sale.
<br />�,. ' .�,•� �f� Upon recefpt of paymont of the price bid,Truntee shall deliver tu the purchaser Trustee'e deed conveying tho property.The►ecitiais contained In
<br />_,.,,; �, • . � Trustea's dead shall be prima tac�e ovidience ot tho truth of the statements contained therein.Trusteo ehall epply the proceeda of the aele In the
<br /> }o�lowinp order: (o) to all e,penaes ot tho sale, inctudtnp, but not Iimited to, reasonabie Truatee'e feoe, reaaonabie attorney'o feea and
<br /> � reinatetsment feea; (b)to all suma secured by this deed of trunt,nnd(c)tha baiance,if any,to tho pereons Iepaily entitled to recetve f2.
<br />�;,�;;}}�°;";;'• 13.Far�bwn.At Lender's option,thts dead of trust may be foreclosed In the mannar provide by nppltcable law for torectosure of mortgagea _.
<br /> on real property.
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<br />� 14.Intp�etlon.Lundnr mey enter tha property to I�spect it ft Lender givas Borrower notice betorehand.The notice must state the reasonable
<br /> *T�:;d'�'-'��a�! cause for Lender's inspectioo.
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<br />}}��,,-:,: •.' :s-° , �S,Cond�rtweatlon.Borrowor oseigns to Lender the proceeds of any award ur claim tor damapes conneCted with a condomnation or other takinp
<br /> "'%�"�"' ' of ell or any pert of the propert�.5uch proceeds will be applied as provided in Covenant 1.This essignment is subJect to tt�a terma ot any prior
<br /> " 1� - f security egreement.
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<br /> 18.Watv�r.By exorcicing any remedV availebf�to Lender,Londer doee not givo up any rights to leter use any other remedy.By not exercfslnp
<br /> - :�:i; , , eny remedy upon Borrowe�'s defauit,Londer does not waive eny right to Iater consider the event a default If it happena apain. _
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<br /> �- 17. Joint end 6�usrN LI�b{i�y• Co-slpn�rr, Succ�ssas and Assian� Bwnd. All duties under thls deed ot truat are�oint and severei. Any �.;;"
<br /> � :r•i+'� � Borrower who co-slgns thta doed of truat but doea not co•alpn the under Ing debt Instrumentis) does so only to gr rnt end convey that .
<br /> ?;F�?_^;;,'�,�r'r' . Borrowor'e interest In the property to the T►ustee under the terms of thls dee�of trust.In additlon,such a Bonower egreea that the Lender and °-
<br /> -- y .:,,� nny other Borrower under thle deed of truat mey oxtend, moditv or make eny other chengea in the terms of this deed of trust or the secured =.
<br /> r,9„. �, ,,,± debt wlthout that Borrower'e consent and without releasing thet�orrower hom the terms of this deed of truat. ___
<br /> � ��s •�� ��' The duties nnd 6eneflte of this doed of trust ehall bind and benofit the succeasors end assigns of Lendor and Borrower. _
<br /> 18.Notic�.Unless othnrvviso roqulred bV law,eny notice to Bottower shall be g(ven by delivering ft or by meiiing it by aertified matl addrossed to _
<br />- � � Borrower et the property addreae or eny other eddrese thet Borrower hae gfven to Lender. Borrowar will flive eny nof+ce to Lender by certifled _-
<br /> mafl to Lender'e eddreas o�peeo i of thfs deed of vuet,or to any other eddrosa wh[ch Lender hea desipnated.Any other notice to Lender shell _
<br /> � • be eeM to Lender's address es atated on pago 1 of thie deed of trust. _----
<br /> - ���'y' Any nottce shall bo deemed to have baen given to Borrower or Lender when given In the manner stated ebove. ____
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<br /> � ' ��1' 19.Tnn�fa of d»Prop�rty or a Barn11c1�1 Inte�st In th�Borcow�r.If nll or eny part of tfie propertv or any interoet In tt is sold or transterred --��__,._:
<br /> �� without Lender's prior writtan conaent, Lendor mey demand Immediete payment of the saaured de6t. Lender may also demand Immedlate ��``''
<br />_ ,.�; payment if the Borrower ie not o naturel person end a 6eneflcfal interest in the Borrowar is soid or transierred. Howovor,Lender may not pr,.�:yc��_
<br /> __ domand payment In the above situntiona If it Ia prohibited by fedoral Iaw as oi the dete of thia deed of trusL Q-��''����c°-
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<br /> •',;,; 20.R��onvsyanc�. Whon tM obligation socured by thts doed of trust hes been pald,and Lender hae no furthot obligetion to make edvances a1��%=-:�`��
<br /> under the Instrumente or egreements securod by thla doed of truat, the Trustee shell,upon written requost by the Lendar,roconvey the trust ::;<�:�%�;`
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<br /> �,,�'; p�o�e��Tho Le�d�6hRt�1:�Iw'wr ahnlltna Benv roWCOrdatloneco ts.eYe BuCCessot In Intorest,the trust deed and the note or other ovidence of tho ;-�,�'_
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<br /> 21. 3ucc�ssor Tnestw. LoMor, at Lendor's optfon, may remove Trustee and appoint o succossor truatoo by flrst, mailing o copy of the 'y�;r "
<br /> - �� substitution of uustuo as roquired by applicoblo Inw,and then,by filing the substitution of trusteo for rocord In the offico of the reglater of doods ��•a.•�•
<br /> of oach county In which tho trust proporty,or some part thereof,is sftuated.The succossor trustee, without conveyance of the property, shall :
<br /> succead to ail the powor,duUos,authority end tittu of the Trusteo named in tho deod of trust end of any succossor trustoo.
<br /> . fPaye 2 ol?I
<br /> � . . BANKEliS 6V6TEM8.INC..Si.CLOUD.MN 60301 It•d06�937•t9�71 FORM OCP•MTO-NE E/79/81
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