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<br /> . �� cov�nrrs : . _ =_: _-t:=.`� -_.
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<br /> • 1. Peyments. Bartowor agrees to make atl peymerRS on the aesured debt when dua. Unless Borro r� Lander agree o erwise, arry � ;
<br /> payments Lender recaives from @orrower or tor Bonowe�'s.Denefit will 6e apptied first to any amounts Borrower owea on the sewred debt , _
<br /> � exclusivs of interest or principel,second to irsterest,and�tt9n�0{vindgaL{f partiaf prepaymeoi of tAe secured deDt occura for any reason,it wili � , �_:
<br /> ' noi reduce or exeuse any acheduted payme�t untii the sef2ireddobi w.Qatd in tutl. � , -
<br /> ........ ....� . . . . . ._ �.
<br /> �-.-_ 2,�e1,�s P.^�'2 TIL�B.30+TOwBt ViiH p8y 3!!t2R?S.36�3a5!?79tt28.P.Rd 4tief Ch8i6+�82tItLt7�?IlIB t0 U}9 pt0�}9fLy Vfh8�1 d4Jfl Ailf(�'��1 dafend mla . _
<br /> to the propeety against any ciaims whieh would impair the lien of thls deed of trust.Lender may require Borrower to assiga anS�rigrits,claims or
<br /> •� de[enses which Bonower may have against partias who supply labor or matariats 4o improve or maintain tha property. ��•��,
<br /> . 3, tnsurartco. Banower wiil kesp the praporty insured under tetms acceptabte to Lender at Borratver's e:pan�a and for Lender's 6enefrt.All ' •
<br /> ' I insurance policies shall irr�lude a standard mortgage dause+n tavor of Lender.Lender wilt be named as loss payea or ss the insured�n any such _ ,. :-
<br /> insurance policy.Any insuranw procesds may be epplied,wfthin Lender's discretion,to either the restoration or repsv of Ltie dartaged property ' '
<br /> - I or to the secured debt.If Lender requires mortgage msurance,Boncwer agrees to maintain such insurance for as tonp tfs:.ender requires.
<br /> T,-� 4.Rapnrty.Bonovrer wifl keep ffie property in goqd cond"ibon and make ali repairs reasonabSy necessary. - -y---=--.- -
<br /> • , ��.$ b.Enpec�oa.Borcower agrees to pay all lender's expenses,including reasonab►e attorneys'fees,if Borrower htoaks ett�i eavsnants in this dasd , . �
<br /> . ; � of trust or in any obiigation seccned by this deed oE tcust.Borrower Nnll pay these amounts to Lender as prouiAad in CnnOnant 9 ot this dead of . . Y
<br /> tntGt. �
<br /> - 8.Priar Saeurity Ini�rests.Uniesa Borrower first obtains Lendar's writtan consent,Borrower Hnli not make rn�tl�rit•An�t.ChArtges to any prior ; ;. , _ ,
<br /> security interesb. Borrower �vill pertorm all 04 Bortower's obliaaUOns under any prior mortgage, deed uf tnr�2�+ otttt�r s�ecatitry agreement �,.;, - ".'�,
<br /> inciuding Bonowe►'s covenants to make paymants when due. , _
<br /> =;,�, 7.As��marR of Rertts u�d Profrb.Borrower assigns to Lender the rerns and profi4s ot the proparty.Untess Bortmu07 snd Leader have agreed ;��+:.;,�?� . _,�,�,
<br /> • othenxise in writing, Barrower may coltect and retain the rems as long as Bor�owar�s not m defauft. �f 8nrro�aer dahufts.Leoder, Lertdci s ;� : �
<br /> � agent,or a eourt aapo�rtted receiver may take Dossession and manage ihe property and collect the renta. linp renta lender cotlects shati� ,. , -.. -
<br /> - � applied first to the costs of managin�the proparty, induding court wats and attomeys'fees, cammissiana tu rental agents, and any o�ra^ �` '. • r..^, '_,���
<br /> necassary rclated expenses.The ramanmg amount of rsMS will than ap�ly ta paymsnts on the secured debt as hravided In i.oveaant 1. ��< <�:_s�°,-.�. _
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<br /> � g.Lonofaatds;Condominiums:Wannsd UNt Davaiopmmts;Bartower agreas to compty wtth tho provisiona of arry lease if�this deed ot uust is on - •�-r.�^��,•
<br /> on
<br /> � a teasehotd.If thfa doed of Uvst is on a unit in a condommium or a plannad unit developmanL Bortov�er w�i2 aartorrtr-all�ot Bnrrow¢rs dutlas ?���` • - �, �.
<br /> under the wvenants,by-laws,or regulations of t�e tondomiaium or planned unit devetopmeM. ,r�ri�:��;
<br /> .i .�.,, .• ;. .,,_,_-!,_-c.
<br /> 8.dluthattty at landm m Partorm icr Bottowar. Ii Bonowar fails to perfarm any of Bonawer's duties urN..r��:is deed of trust, Lende��F � •�•
<br /> . pertam the du�es or quse them to be Darformed.Lender may sign Borrower's name or pay arry amount iS r^e�ssary tor pertormance.If� . '- "�.:��'.
<br /> eonstnictian on the property is discotrtinued or not carried on in a roasonable manner,Lender may do whatever is necessary to protect Lenda�s
<br /> ' seeurity lnterest in the property.This may indude comptering the constructton. y��f� ;,�
<br /> .,.�+� _ - '.._ .,�',l.^_.
<br /> Lender's tailure to perform�vill not preclude Lender from exerasi�g any of its other rights urtder tfe r_iv or this deed of tr:,at. �, �- ' •,-� ., +��
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<br /> � - Any amounts paid by Lender to protect Lendei s security imerest wii{bo secured by lhis deed ct i::,;>i.S..>�.:�:.wu�ts w:.` ��a dua an dsma;�tl =_=- —
<br /> ' r� and wifl bear imerest from the date of the paycr.E-a untit paid in full at the interest rate in effact on Lhe sa�.rar:�'.r'K. ' �Y`� '~a°°
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<br /> �4r•-' 10. Dafault and AcesiHaUon. If Bonower faits:a make any paymerrt when due or hreatcs any covena:^� uader this c'r,�d ot trust or any ,_._-,,;,,: � T,`
<br /> obfigation secured by Uils Qeed of bvst w any prior moRgaps w deed of trust, Lander may aeceterate Hee maturily of r,e socured debt and _ 1 ,
<br /> demand immediate payment and may invoke the power of sale and any other remedies permittAd by applicable law. -
<br /> � 11.Raqurst ior Notits of DstaziY_•:t is heraby requested that copies of Me notices of defau(i and sate be s•rz to each person who is a party
<br /> hereto.at tha address of each s.u�Ferson,as sat 5orth herein. :"�
<br /> 12.Powu a!SaI1.If the Lender'rnvnkes the power ot sale,the Trustee shall flrst record in the office of tt+o��gister ot deeda of each r.ourty � �'r� '
<br /> wherein the uust�ropeRy ar sorea part or parce{thereof is situated a notiee of default corttaining the information required 6y law.The Trustee , �.
<br /> �� shali atso mail co�ias of the nc��e of default to the Bonower,to each person who is a pam�hereto,and to other persorrvs as presalbed by �• : ..4' :-
<br /> ' eDDt:cab�e �aw. Not less than cna�mcnth after the Trustee recards the notice of detauh a•ra�� months if the trust pr'.r.r�:y is not in any ;.�� '.•.,. .
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<br /> inwrp�»'..._ed city or village artd'cs us.nQ in farming operaUOns c�.-cr�d on by the trustor,the fr�:tt+shall give public notice at.t.�i,e to the persans `�;'"•; • :
<br /> • an�ua L*�manner prescribed�j•aFr�ticabfe Iaw.Trostee,witth7:.2 demaad on Bonower,shati szB ffie propertY at puClic�.���to the highest ,'", �� __
<br /> � bidd��=1 required Lsv the Parm Hor?EStead Pro'Octlon Act,Trustea shall oHer tho propsrty(n two separate sa(es as req�-:?a��Sy applip6le faw. '• �r - �••� ,.: ;3,i � ::
<br /> Trustea rt�ay post�nrte eale of all or am parce7 0`,the property by pubtic announcement at the time and place of arry prev�o•�sty scheduted sate. ° �� � .:
<br /> _ Lendet or its designee may purchase the propertr�at any sale. • ,,,,�,,,���yQ..-
<br /> ��,J U{.ron recatpt of paym ent of the price bld,Trustee shatl deliver to the purehaser Trustee's daed convaying the property.The re�tials contained in -� �' '��,�
<br /> ' 7n:steo's deed shafl be prima facte evidiance of the uutA of tho statemeriut contained therein.7nistee shall apply the proce�of tAe eale in the �'.�'' '. �'
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<br /> � foliowin g order. (�) to all ex penses of the sa!e, including, but not limited to, reasonabto Trustee's fees, reasona6lo t�'�r:Yneys tees and '�,,,,�°
<br />� � reJnstatement fees;(b)to all sums sacured by this deed o4 mest,and(c)the balartce,if any,to tAo persona Iegally entiifed vv ra:aiva it. _ . �_
<br /> •�` 13.Wr�closun.At Lender's option,this deed of bvst rtoay be foreclosed in ths manner provide by applicable law for toroctosure ot mortgeIIes '�: ___.
<br /> ,...�,�;7� on real praperty. , . _
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<br /> 14.tntweHan Lendet may entet the property to inspect it tf Lender gives Borrawer noUce beforehand.The notlee must stata the reasonabte i<•.• .,._ ..�.�:-':"-
<br /> . t: cavse for Lender'e inspoction. ��-�= _ .,.
<br /> � �,� 1&Cond�mnaflon.Bonower assi8�ns to Lender tho�roceeds of nny award or elaim tor damages eonneetad with a condemnaUon or other teWng ���-�[!�•�,-"
<br /> :,f„� ot all or any part of the property.Such proceads will bo applied as provided(n Covena�i 1.This essignment in subject to Me terma of any prlor
<br /> '�y'4 seCUrity apteemenL - - _
<br /> "?,�1�<y�.y - ` - --
<br /> ..�'�?��;s? 18.Yl/dwr.By exercising any remedY available to Lender,Lende►does not glve uC any rights to later usa an�1 otfier remedy.By not exor�ising _ �
<br /> ,.�,> any romedy upon Bortower s defautt.Lender does not waive eny Nght to later consfder the event a defauft if r happens again. ••
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<br /> �'. 1T..tofni�rM S�v�rY Ua6�ri:Co-al��n; Suac�uon md Asst�n Bound. All dutiea u�der this Ceed of �:..^t e.-e➢�%nt and several. Any . � "'_�
<br /> '�* Ern�:wer who co-signs this deed of Vust Eut does not co-sign the undar1yIng de6t insui:•mqntls) doea so o�Iy to �:rmt and convey that �-
<br /> •�f t��y';'% Borrcwer's irrterest in the proparty to the Trustee under the tarms of thia daed ot trust.In afdt�cn,such a Bortower aflrees that the LenQet an0 ,.z�j�,e•+?%.� :� � .
<br /> "�'`�j� any other Bmrovi�under thts deed of trust r��+oxtend, modify or make any other changes in tho terms cf this deed of trust ov tho sewred �_L ;� '•
<br /> ��'�'';�� Aabt without that E:rrowers consent artd wi�,c��,t releasing that Banower frcrt nhn tettns of this deed of Vu^t.
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<br /> TPie duties and bertefrta of thls Qaus of trust sh�a7l bind and 6anefit the eucces^•.a-a er.A assigns o!Lender and Bonower. __.__=___—--
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<br /> 18.Hotle�.Un►esa otherwlse rc,�.:�•se9 by law,any notfce to Bonower shall be 8iven by d�li•.�rs�a it or by,mailing it by eertifte�mait addressed to �,-�����.syr�;
<br /> • Bonower at the property eddrost ar any_other eddress that Bortowe►has givan to LenCer.G+u•.ower wn8 give eny notico trn Lender by certifled -� '
<br /> mail to Lender's address on page 1 of th�s deed oi uust,or to any other address wnich Ler�3r has designated.Any other r:c^ce to LenQer ehafl �. ���i-
<br /> be serrt to Lender's addreas as stated on paaa 1 u'this deed of vust. '� . :�'�'
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<br /> `���"'� Any notice shall be deemed to have 6een givm tn G.rrower or Len�er when,i•��[n��the mannor stated ebove. '"' �..�,v.;.,, _»..
<br /> E-. ''•'• ,. t�
<br /> �� w' -=•r F•---•.,-..:,._t�,,r:..
<br /> � 19.Tnnsf�r of d»Propsriy a►a Benefldtl Ir�M�st in the F.�.cre�wu.If all cr s•,y GaR of tho property ar any interest in it io�z(d or Vansterred
<br /> .��d�` wtifi.�ut Lender's prlor v+rtitten consert, Lendar may ds:::a;d �rmediate payr..yr.t of tho secxsred debt. Lender may afaa dnn:and immediate ��•� : '
<br /> paymont it tho Borrowor is not a natutal porson and a Ge�`�hcial interest in 2t�o Bortoavr rs cold or transfened. Hnvv3c+ar, u3nder may rtot ?�j;'�'.:�� �"�`:��'"'�"
<br /> ;��'v C%1'�:and paymani in tho above situotions if it is proh:bitod by fc�ieral law as of the date of tltis C.a�d ot trust. . '`^• •itA'"";.� �-
<br />. +�:�:�.r�.�;..,,....__.
<br /> `.�y�p 20.R�tonveyaaec When the obligation seeured f:y thls dend of truat has�ecn paid,and Landor has no tuKhar ohtiga�on i�mako adurncos �„�•.�v��,.:'+';;.".<.•.•.
<br /> under tho 1nsWmonts or ag►ooments secured Cy t�is dead of truct,the Truabs4 shaU,upon written requeat by the Lender, reconvey th.a trt:at �:��._�-��._
<br /> pro ertV.Tho lerrfur shall deliver to the Bo�rower,or to Borrower's successar i�interest,the uust�eed and tAe noto or oLter avidence ef tfio ,;_,,,,.ir;,,,,,�,,,r
<br /> _ obt�ggtion so satisfiod.Borrowot shall pay any rocordation costa. �__ - _
<br /> 21.Suce�asw Tnat��. Lender, at Lender's option, may remove Trustaa and appoint a succassor trusteo by firut, mailing o copy of tho `
<br /> � su�stitution of trustee as requlred by appliceble law,and then,by filin�the substitution of trustee for record in the office of the regiater of deeds • -
<br /> of each coumy in which the Vust proporty,or somo part thereof, is srtuaTnd.The succoasor uustee,without conveyanco of the proparty,shall , �
<br />' - succood to a!1 tho power,duties,authority ond trtte oi the Trustee named in the deod of uust and of any succossor VustEto. ,
<br /> • Ipsga?ol?1 . • ---
<br /> BIWREfa SVSTEMS.WC..ST.CLOUD.MN 56301 17�86P397•27l71 i0RlA 4CP MTGNE 8/7991 � � �
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