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<br /> COVEWANTS � ���8��
<br /> 7. Paymont�. Borrowor r.prcos to muko alp urmonto un tho socurnd dubt whon duo. Untoae Barrowar and Londor nproo othorwino, nny
<br /> poymonto Landor roaorvoo Irom porrow.ov ai for Uorrowor'a bonnlit wlll ba uppllod fitnt to any amounta Oorrowcr owo❑ on tha aocurod dobt
<br /> exclualve of Imcreet or princlpal, eecond fo Inte�ett, and then to pnnclpol.It partlel prepeyment of tho eecured debt occuro for any rooeon,It wfll
<br /> not reduco or excuee any scheduled paymenl unGl the securod dobt in putd In(ull.
<br /> 1.CIMm�Ap8n�1 Tidr.Barrowsr will pny U taxn, onesements,�nd other chupss attrlbuteble to tha property when due end wltl defend tltte
<br /> to the propertY apolmt�ny clelm�whlCh woulri Impslr tho Ilen of this deod ot truat.Lender may rbqulre Borrower to ae�lpn ony riphte,clelme or
<br /> de}entes whlch Horrowu may hrv�e�alns9 paftlu who euppiy lshor or m�t�rlsli to Improve or mmnteln the properly.
<br /> • 3. In�urartc�. Borrower wI8 ke�p the proputy Intu►ed under te�m� accopt�bts to Lender et dorrower'e mxpense end tor Lender's hene}it.AII
<br /> Irrfueencn poltcle�ehnll Inctude e eYanderd mort efle clnuse In fevor of Lender.Lender wIU be named ne lots peyoe ot ao the Imured on eny auch
<br /> Ineurancs pollcy.Any Iniunne�proc��4a m1y �1•ppli�d,within lendn'�discrcYlon,to either the reetontlon or repatr of the dam�ped property
<br /> or to ths�ecursd d�bt.I}L�nd�r nquln� mortg�y�Inwranc�,Borrornrer apmi to m�lntdn�uch In�ur�nce for u�lonp e�Lender requlres.
<br /> �„w.�• 4.Drop�rty.Borrower wlll ka�p th�propertyln pood conditlan end make ell repaln reaionnbiy neceasary.
<br />' Y�"'""`� 6.Exp�ns��.Sorrowar�yrene to p�y�II Lender'�expense� Includinp reaROnable�ttarneyn'►e�r.I}Borrower b�eake any coven�nte In thl�deed •
<br /> o}trust or In my obllpitlon acured bY thi�deedof tru�t.�orrower wlll p�y ths:e smoum�to Lender�a p�ovided In Cuvertant 9 of thle deed of •,_;�
<br /> truat.
<br /> 8.Pila 6ocutliy Hit�r��to.Unlaao�orrower Ilrst o5taina Londor'a arritton conaont, Borrovlcr vlili not maFce or pnnnit eny chanpea to any pdor ' ;.,�t�
<br /> � eecuri4y Intereste, Bortower wlll p�rform �0 of Ba�rower'e oplip�tlons urider any prlor mortp�pe, deed af Iruat or other tocurity epreement, �u�.� ._.
<br /> Including Borrower'�cove+nant�to mske paymente when due. '�-t'��;:;,.,
<br /> £ 7.As�fpnma nt of RMU�nd Froflu.Borrower ae6lpne to Londnr the ronta md profits of the property.Un►ef1 Borrower end Lender have apreed . �;��'�"
<br /> i otherw sl"s In wriUnp, Borrowa m�y collsct�nd rotaln the rn�ts u lonp n Borrower la not in de}ault. If Borrower de}aulte, Lender, Lander's �er�;:
<br />� epant, or a court appolnted roceiver msy t�ke poaseealon and rnenape the property snd collect the ronta.Any rente Lende►coliects ehail be '•g.��_,
<br /> ` � epplied tirst to tho co�ta of mamalnp the property, Inaludln� caurt coata and�ttorneys' fees, commissiona to rental eg�ents, and eny other .�Y=�-
<br /> ,� necet�ary related sxpeneas.The remafniny Imount of rents will then apply to peymsnts on ths tecurad dsbt u provided in Covonant i. `
<br /> 8.lq��holdr.Condort�:ntumr,Pixewd UnitDsv�lopm�nt�..Borrower aproea to compty with the provialons of eny leese it this deed of tr�st is on ��-.
<br /> "" ; � a lee�aehotd.I}thle demd of trust Is on a uNt i�e condominium or a plonned unit dovelopment, 8orrower will pertotrn atl of Borrower's dutlea �y�.�_
<br />_ �, under the covenanto,hyInwn,w r�pulationeot tha condomintum ur plenned unit devalopment. d�:-�
<br /> � { 9.Au�ority ui Lwxl�r to P�rtam ta Earrow�r.If Rorrowar faiU to erform any of Barower'e dutlea under thle daed of trust, LP '�r may � ,__..__.
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<br /> perlorm the dutlee or c�uas thsm to ba�sedormed. Lander mey olpn orrower'e neme or pay ony emount II necesaory tor performa IP eny ��,��:�__
<br /> � constructton on thepr oparty Ia ditcontirxsedor not aarrled on In a reaaonfbis menner,Lsndir m�y do whatever i�naceseary to protec, s�ider's --
<br /> ,�,,;,4` security int�rest In tM property.This may Inchsd�comptstinp the consuuction. _
<br /> ��""�� Lsndar's faifure to perform wiil not preclud�lender from exerclsinp any of fte othar rlght�undev the law or tN�daed of trust. �:-_
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<br /> Any emounte paid hy Lender to protect Lender'�secuAty fnterost will be�ecund by thi�d�ed o}truct. Such amounte wUl be due on demend `'
<br /> �': end wiil 6oer Intereat trom the date of ths p�ymmt until pald in Sull�t the Interest nte in eft�ct on the cecund debt. __
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<br /> ;�;:�. 10. IHf�ult�nd AeeNNWaf. It Borrower faiSf to make any payment when due or brs�k� �ny covenanit under th!a deed of trust or eny =
<br /> oblip�tion secured by thia deed of Vuat or ony prior mortpeye or deed of trust, Lender msy�ccelerate tM maturity of the secured debt end
<br /> demand immediate p�yment�nd may invoke the power of ede�nd sny otMr remedies permitted by spplicabU isw. -
<br /> � ;� 17.R�ast fcr Notic�of DofWtt.It la Faeroby roQUeated that coD�es of the noticea of de}auit end eala be tent to each perROn who is e party �
<br />-- - heroto,�t the eddroaa of each such percon,as ut fo►th hereln.
<br /> • 12.Poanr o!S�.If ths Lender Invokea tM power of�sal�,the Trustee thall first record in the oNlce of tM replster of deeds of��ch county
<br />- �• wherefn t1►e uuat property or eome part or parcel theraof fe attuated e nc,tice of default ccntsinlnD tt►�inform�tion requlrsd by law.YM Truttee
<br />- ah�11 sico mail copies of the notice of detwtt to the Bo�rower, to each person who Is a puty hereto, snd to oth�r p�rsons npr ucribsd by
<br /> � epplicabte law. Not leas thm one month�ftar tho Trustea recorda the notice of deteult,ov two month�if th�vuit property is not In any
<br />-!� ' incorporated ctty or vfll�ye�nd is uced in irminp o�peratic+ns car►led on by the trustor,ths Truste�shall atve public notic�of�sle to the persons � —- -- -
<br /> � � rnd!n the manner presaibed by epppliCable Isw.Trustea,without demand on Borrower,shdl sell tho property�t pu�llc auctia�to the hlphest
<br />�t..•i bdQA�r.If requlrsd by the Firm Homestead Protectlon Act,Trustae ahall oRer the property In two sep�r�te ufe��e nquired by�pplicabl�iaw.
<br />�3 1,'�_�,. `. ' Trustss m�y poatpone�ale of all or any pucet of ths proparty by pubtic ennouncemcnt at the time�nd pUa of e�y previou�ly achedulsd sde.
<br />���z,..:. �-•' Lcnder a tn designe�may purch�:�the prop��ty�t any sal�.
<br /> -```{' �Y` Upon recelp2 o�f psYm ent of tM price bid, Tmstae shali deliver to tM purct��ser Truatee's deed cunveylnp the property.Thc+rocl8ais contatnad fn
<br />--:r-^', ��^4,. Truatee's de�d sh�ll be prims tacfe nvidie�a ot ths truth ot ths sUtsmentt contdned tMnin.Truste�sfisll�ppty ths proceeds ot the s�ls In the
<br /> •-,,�:r•�. tolbw(np orde►: la) to all expenae• of tM siA, includinp, but not Iimited to, roasombk Truatee'� fa�, reasonible attorney's tee� end
<br />-�,;:1,;�,:;„y"�+� relnstetement foea;(b)to all auma Becurs d Oy tNt deed of truft, and (c)the belance,if�ny,to the persuna tepaily entiticd to rsceive it.
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<br /> "`°��-��• 13.For�clowr�.At Lender'a option,thls doed of t►uat may be toroclused In the manner provfdo by applica6le tew for forocloauro of mortq�pes �
<br />-"='��-�"�i°� on real property.
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<br /> w, r;;.:•,��}�,� iM.Inspwcunn. Lnnaor�uay enier tne prvpe�ty to insNect it ii Lentier qivea Burrower noiica Ueforehand. 7ne nouce muat istate tha reasonsbto
<br /> �,���,� cause for Lender'i inspectbn.
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<br /> --�r1.��:!`�` 16.Cond«r�tlon.Borrower asai9na to LeMe►thepr ocoeda of any award or clalm for damages connected wlth a candemnstion or other takinQ
<br />����I�'4 4frS' tecurl�ty�apreement tho pre9erty.Such procende wil!bo applied ai provided In Covonant 1.Thfs asstpnment lo aubJect to the terms of any prior
<br /> -':.:?.A;�?�ar;�:
<br /> �""� 1d.WaIvK.By exerciaing eny remedy a�ca�abfe ro Lender,Leoder doee not give up eny riphte to Iater use�ny other remedy.By cwt exercislnp =
<br />=='�*�t� eny►emedy upon Borrower'e def�uit,ler�dar dv�e�not waive any right to I�ter conafder the event e default if It happena again.
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<br /> ----''"-_'`_����� 17. Jei�t �nd SwKal L(ablliri• Caslyn�on;Suec�sson and As�lyns ewnd. All duties under thta deed of truat are joint end severel. Any
<br />-`--:,,;�;,,�,�;--- Borrower who co•sipnt thia deed of trust but does not co-sipn the urxlerlylnp debt inatrumentlel doaa co oniy to yrent and convey that _
<br />+'o�.�_�� Bonawer'e intero6t(n the properry to the Tmstee under the termt of thia deed of trust.in additton,Ruch a Borrovrer ayrees that the Lender erxl -
<br /> �.�y-^•: anY otMr Borrowsr under thit deed ot tevtt mry extend,modi or make eny other changos in the terms of 4hia deed of truat or the securod
<br />-�..,�-•• � �. , debt without that Borrowor'e concent end withart reteeatny thet orrower from the terma of this deed of huat. _-
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<br /> � "r�;(,:;�a:`-• 1'he dutiea and benefite of this deed of trustehap bind and benafit tho successore and asaipno of Lender snd Borrower. __
<br />_' � 10.Hotic�.Unleaa otherwisa required by lew, any notice to Borrower shall bo gtven by Uelivaring ft or by matling tt by certitied meU addrrsaed to E�F�
<br /> - '_' Borrower at the property addrese or any mher oddress that Borrower haa yivon to Lendor.Bonowev will give eny notice to Lender by certiHed G
<br /> - • mail io Lender's addrefe on pege 1 of this dead of trust,ar to any other addreas which Lendcr haa desipnated. Any other notice to Lender shnll a,..
<br />_= be sent to Lender's eddrega as statod on page 1 of this daod of trust. -
<br />- � , Any notfce shall be deemed to hava been qiven to Borrowor or Lendor whan givon in tho manner stated ebove. �� ��_
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<br /> - ^ 19.Trar►efs►of tM P►oMrty w�B�ne7lcSh cntxnt In tM Barow�r.If all or ony part ot the proparty or any Interest In it is sold or trans}errod •°"-
<br /> �'s�� ;_ ��i wtthout Lender'e prior wrhten consant, lender may domend immedlate peyment of the aecured debt. Lender may elso demand immedlste 'w�"�" -°.
<br /> 3,, payment if 4he Bonowor Is not s natur�l peraon and a benefbciel interoa� in tho Borrower la sold or trensierred. Howevar, Lender may not ' `-�_-__=-
<br /> " t,, demend payment In the aDove situations ii it Is prohi6itod Dy fodoral law ea of the date of thla dead of trust. �•,���'•'- -
<br /> 1� 20.R�conwyane�. When the obliystton secured by this deod of truat hae been pald and Lender has no tunher obligatlon to make advances r�j����
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<br /> -� r�,�,�v t � under the InsUume�ts or a�lreome�te seewed by thle dood of trust, the Truotee shalf upon written requeat by the Lender,roconvey the trust _ .,
<br /> v^� i pro rty. Tho Lender shall detivor to the 8orrower, or to Borrowor'a uuaaeeoo►fn intorest,the truet deed and the note or other evitlonce of the � �'�� '���
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<br /> _, obl g�ticn so tatl�fled.Borrower shalt pay my �ocordation costs. '_��{.��i:�.;:�`
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<br /> i 21. Succ���a TruatN. Lender, at Lender's opti�n, may remove Truatee and appoint a succeasor truntee by tiret, meiling e copy of tho `��'=�'�
<br /> substitutfon ot truatoe es roquired by appfiublo law,end then,by filfng the eubsUhitlon of trustea for record In the office of the reglster of deeds •
<br /> , • � of eech county In whlch tho trust proporty,o�somo part thereof,Is situatod.The succossor trusteo,withart conveyance of the prope►ty,shail '"�'
<br /> I succeed to ell the power,dutiea,suthority and utle of tho Truetoe named in tho doed of trust ond of any suceossor trustoe. ' '
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<br /> BANKFRS 6V6TEMS,INC.,ST.CLOUO.MN 6830t It-OOa391�t�a11 FORM OCP-M70-NE OltB/B1 -
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