|
- ' (
<br /> .�:
<br /> � . �- . ' ' - ... -
<br /> �
<br /> ..:4aG'rlYwaa�...+.._ ' , ..,c.
<br /> . u.'.'H.�4,9i!ili�. , -,,..._v_
<br /> ,. .r.,.,...,..�... . . ., :. . .r• ;;•w�orw�,�'y.►_^•-� - .. � .. .•wqw4�MWiiMi�.�n - _
<br /> ' + -�., a .�.-..�4
<br /> •,
<br /> � ,..._-._...._.... . ,. . . . ..
<br /> �.a_..._ .. .. .
<br /> _... .. �_....,,. T f�_ _—.
<br /> 7"' .CS� "" ..
<br /> cavennruTS �,m �O����
<br /> 1. Pe►�'r,�n4o. 6orrov�o► oprnoo to mako aIl poymonte on iha uocutod dobt whon duo. Untoea 8orrowor ond Lorido� opruo othorwlao, ony
<br /> paymente lender recelv�s Irorn Borrower or ta� Borrawar'e bonefit wlll 6e eppliod firet to any emounte �o�rower owes on the securod debt „
<br /> J exclualve o}Intereot or princlpal,second to interoat and thon to princlpai.If pnrtlal propoymont of tha 68CUlod d�bt occure tor 5ny raes�n,it wlll
<br /> � not�educe or excu�e eny echeduled payment untii the ucu�ed debt Is peld fn tull.
<br /> 2. Citlm�A�Nmt Titl�. Barrower wlll psy etl tsxe�,e��ei�mente,end other chergea�ttriGuteble to the property when dus end will defend titie
<br /> to th�proport1(eg alnat any ct�im�whlch would Imp�ir ths Ilan of thly doed of trust.Lender may rn�ulre Bnrrower to ecalQn any rlphto,clalm9 or
<br /> ,,,, dsTsnte�whtch 9orrower m�y h�ve�p�fn�t partle�who�upply labnr or matetiele to tmprove or mefntaln the property.
<br /> 3. Ineurencs. Borrower wlll keep the property inaured under termt acceptabte to Lender et 8orrower's expenae ertd for Londe�'a henoilt. All
<br /> � Inaurmce poticies shall Inciude�etsndsrd mortpaae cl�u�e In fsvor of Lender.Lender wttl be nemed ea lose payee or e�the i�aured on�ny such
<br /> Insunnce poltoy.Any insurmcs proceed�may 6n�pplied, within Lender'�diacretion,to elthe�the rettotatlon or repsir of tha d�mapod property
<br /> oe to the eecured debt.Ii Lender requires mortpepe Insurance,Botrower epreea to maint�in luch Insurence tor aa lonp aa Lender requlrea.
<br /> � 4. Prop�Ay.Borrower wiil keep the property In poad conditton end make ell repe!ro reesonably neceseary. .,
<br /> ...�ann`'A' '
<br /> � . .� � 6. Exp�mn.Borrowar apreea to pay all Lender's expennea,Inciuding reaaonnble attorneye'}eos,Ii Hor►ower breakt any covenante In thta deed
<br /> ' of trwt or in eny oblipatlon socured by thla deed of trunt. Borrower will pey theae emounte to Lender aa provlded In Covenant 9 of thla d9ed ot
<br /> truat.
<br /> 8. Prlo►S�cu�ity Int�resb.Unless Borrower firet obtalne Lender's written cansent, Borrower w�l nnt mnke or permit any chanflaa to any prior
<br /> security Interesta. Borrower wfll perform all of Borrower'9 obtipetlona undor any prior mortgape, deed of trust or othor securlty aprmnment, ..
<br /> Includinp Borrower'a covenanta to make paymente whon due. �� + . �,.:
<br /> � ,.: ,;i::. . •.
<br /> :r...,..,:
<br /> 7. At�! of R�nts�rM Profth.Borrower aselpna to Lender the►ente end proiite of the p►operty.Unlesn Borrowar and Lendar h•3vo agpev:d i" : `.'�::N�ri k:
<br /> otherw ae In wrktnp, 6orrower may colloct and rotain the rents ee lonp�e Barrowar is not in dofa�it. If Borrower defeuits, Lond3r, Lort�Crtr'a ' -
<br /> Q epent,or a court appointad receiver may tske posaeadon and manepe the property end collact the ront3. Any rente Lender cottucts slu!1 M, '`�'°
<br /> g �ppUed firet to the coate of maneginp tho properly, Including court coeta and attornoyo'feee,commfaslons to renial apents, a+nd nny otP►3r �-�=�-^�'-�.
<br /> ; i neceasary related expe�see.The remafninp amount of ronta wfll then apply to peymente on thb secured debt ae provided in Govenant 1, ��`_ "_`�
<br /> # Q. I.NS�t►alds•Cwidomi�iums;H�m�d Unit D�vrlopm�n4s.Borrower a�rees to comply wlth the provlslan�af any lease if this da3d of trust fs an �,�-�
<br /> a leaaehold. i�this deed of truat is on a unit In a condominium or a p annod unit dovelopment,Borrower will perform ail oi Bcrrowor's dut(oa
<br /> • �`` under the covenente,by-iawa, or reguiatiana of the condominlum or planned uMt develapment. ��-=�� `
<br /> �� 9. Authodty o!Lend�r to Pwfam icr Borrow�r.If Borrowor falla to perform any o1 Borrower's duties untler tka deed of truat, Lender may �,�
<br /> perfam tM duties or esuae them to be performed.Lender may siyn Lorrower'c narae or pay any amount If necessaryr for performence. If eny ���±_
<br /> �'" con�truction on tMproperty te discontinuad or not carried on(n�rs�sombts mannar,Lender m�y do whatsver i�necesaary to protect Lender'� �---•—
<br /> � tecurlry interost In the pvaperty.This mey Inciude compietinp the construction. M,;�;
<br /> Lender's failuro to perform wiil not preclude Lender bom exerclsfisy sny o}its other r(phts under the law or thle deed of Vuat. �T` ���
<br /> �r—
<br /> r:_...
<br /> Any�mount�paid by Lender ta proteat Lander'e eecudry interert wlll be aecured by thfa deed ot 4rwt. Such amounts w(il �a due on demend +
<br /> and wiil bear interest from tho dete of tha payment until paid In tull at tfie Interest�ete in eNect on the eecured debt. �;�
<br /> 10. D�taWt�nd AccN�ntlon. It Bonowet fails to m�ke eny payment when due or breake eny covenants under thie dea�of truat o► eny ,. ��
<br /> obl(petton securad by thi�deed of truat or eny prlor mortgege or deed of truet, L9nder miy eccelepte the mstudty o4 the az��ured dabt and d�
<br /> ,� demend fmmediate payment end may lnvoke the poviar of eale ertd eny other remedie�permitted by appltcable law. _
<br /> 11.RpuOt ta 1ltottc�oT t7�Ta�it.it ia nereby requvateu iht[copies oi cna nocicee oi daiauii and aaie oo seni iu neci��nrrsun wi�u i's o pa�iy
<br />-. hareto,at the addross of each such person,as set forth hereln. -
<br />. 12.Pow�r of S��.If the Lender tnvokea the povrer of sete,the Truatee ehail flrst reaord In the office of the regfstc�z of deeda oi eaah county
<br /> _ � wherein the truat property or some part or parcal thereof is situated a notice of default conteining the intormation roz�uivecl by I�w.TFvi Truatee
<br />;�.'�::;, �shall alsa rneil copies of the nottce ot dofeutt to tho Borrower,to each person who la a party noroto, and to oiho�peraona a� p.oaaibed by � _
<br /> applloeble law. Not lesa then one rnonth after tha Yrustee records tho nottaa of default,ar Av� mon:'n i(•the vuat property la nc�t in eny
<br /> -'-���'��y+� Incorporated city w viilspe end li uaocl In farminp oporatlona carried on by ti�.v Vustor,the Tn�sten ahNl aive�.�hlic notics of aate to the persont
<br /> '� • , end In tFee mennet presc�tbed bSr�apppllaabte leva Truatee, without deniand on 8orrower,eha!!aell the{xoparty et publio auction to tM hiphest
<br /> :. bidder.If requlred by tho Farm NomeaYeed P►otealion Act, 7rustes sh�ll oNer tM prope►tv in two aeperate aales ea required by applicabte law.
<br />'r;�:��•+�.:�. .� T�uatee may postpane aab of all or sny pucol oi thw property by publio announcemeM at the time and ptace of eny previously echeduted ede.
<br /> .`_�',�' ,.. •
<br /> Lender ar ho deaiflnoo moy pw�chase the property et any sele.
<br /> ����=,r..�� Upon rocefpt of paYm ent af the p►ice bid,Trustee ehall detiver to the purchsser Trustee's deed conveying the property.Ths roci8als contaioad in
<br /> ;,�w- •�� ,� Tnrstee•e doed ahall be prime t�cie evidionce of the uuth of the ct�tementc contained thereln. Tmstee�hall appty the proceed�of the oeto in the
<br /> •'� fotlowinp order: (s) to all expenses of the sete, inciudinp, but not Iimited to, reatonabte Trustee's feea, reaaonable ettorney'a foei end
<br />-:;;;;;_`. ,_„ � roinnetemsnt tees;tb)to all sums aecurad by thia deed of uuat,end Icl tho betance,if nny,to tM persona iepalty entitied to rocolve it.
<br /> `�"-' 13.Foadostu�.At Londer's option,thls dned ot trust may be toreclosed in tho marnier provide by epplicabte law}o►foreclosure of moKp�pss
<br /> ;;r-_s�i'�,`•..:�� on ro�l propertl►• —
<br /> � � �� 14.k�o�ctlon LeMer may eMe+ t'he proporty to Inspect it If Lender qivea Borrower notice beforehand. The notice must state the reasonabN �`
<br /> :::,�-,- ___
<br /> -_��, cauae of►Lander's In3peation. —
<br /> ,`�'"��ti•' 16.Cond�tlon.F3wrower eaalRn�a to Lender the proceeda of eny award or cldm tor damag ea coTnected with�condemnatlon or other takinp ._:_:...
<br /> -�:+t+?�•='.�', of all or any pert of the property.Such proceeda wlll be epplled es provided in C�venent 1.Thie eaalpnrrsent la eubJect to the te►ma of any prior
<br /> ` •�� eecurity aproembnt.
<br /> -�z,�i;:� -
<br /> `�:�.r• 1a.W�iv�r.By exerciainp eny romedy svailable to Lender, londer doea not pive u�eny riqhte to later uae any other remedy.By not exerciainp
<br /> �;►ia:�.-,�' ,'� eny remedy upon Bonower'�dafeulL Lender doea not wa(ve any dght 4o ietar eons der the event�defauit ff It happens apain. __
<br /> � "`'��� 17. Joint�nd &�veal LI�bWtv Cad�n; Sucassan and Asalpnt Bound.Aq duties under tMs deed of truat are�oint end aeverel. Any
<br /> �,r.�,:."
<br /> �'s7 • Borrowsr who co•:igns thli deed of truat but does not co•sipn the underlyi� debt intuumentfe) does so only to prant end convey that
<br /> ���'�` 8orrowor'�Interost in the property to the Trustee under the terma oi thie deed o truet.In edditlon, such a Borrower agrees thet the Lender e�d _
<br /> ='�°•'�`�'•��- + eny other Borrowo►under this deed of Vust may extend. modi�or make any other changes In the torms of th(s deed of t►uct or the secured __.
<br /> - ;:���'T'9" �. debt without t1�t Bonower'e eonaent end without rolaasing tha4 orrower irom the terms of thb deed of trust. d
<br /> ;µ�'� �;�, � The duUe�and benafits of thls deed of trust ehail bind end benefit the wccesaore and esalyna of Lender and Bo7vower.
<br /> , j ----
<br /> . ' �'. te.Hotic�.Unlesa othenvlae roqufred by lew,ony notfce to Borrowe►ahall be piven by deifverinp k mr by meilin0 ft by eertiflod meil eddrosaed to �::,�;:.,
<br /> • � ' Bonowe►at ths property�ddreas or any othor addrersa that Borrower ha�given to Lender.BRrrowar witl pive eny natice to Lender by cenHted --
<br /> . . � moil to Lender's ed6ress on papo 1 of tAb doed of uuet,or to eny o2her addresa which Lendar hea deaipna+ted.Any other notice to Lender shell
<br /> � bo sent to Lender's addrest ns atatod on pcpo 1 of thie doud of vust. = -
<br /> ' A��y trotiCe ehall be daemod lv huve boen piven to IiDrrovrer or Londor w{�en given tn the manner steted above. --' -_
<br /> , �� . 19.Tr�natu of tM Pro�rty�x�Baneflalil Mette�t In tM Ba►o�►tr.If ell or eny part of the prope�ty or any interest In ft is solcl or tranaforred .;�;;;�;
<br /> , wlthout Londor's pNor wr(tten consenk Landor mey demend Immodiutr payment of the secured debt. Londer may elso domnnd immediate �:..
<br /> . " doma dtpaymeM tn the�above situationar If ip fs prohibtted by}edoral{ew ae of tho date of thlo dced�of o ug ansferred. However,l.ender may not ' ;��.:F_
<br /> 20.R�conv�yano�.When the oblipatlon securod by thle deed of truat hea baen pnid,end Lender hea no further obtigetion to make advences ���n�:�"
<br /> under the Instruments or egreement�secured by thi8 deed of trust, the Trustee ehall,upon written request by the �.ender, reconvey the trust
<br /> _,�..• ` t pro.,perty.ThA Lertder ahall deliver to the Borrowor,or to Borrower's auccoasor in Interest,the trust daed a�d tho note or othar evidence of the
<br /> - - - --...-•- - --•---•�----• --•- ----- �.
<br /> . .--- ...----� oongttion�o e�i�5�mv.ov�w�m..mu po�e��y.wv�ueirvn a.vaie. --_--�-. --
<br /> 2�. fiunao�sa Truttw. Lendor, at Londor'e optlon, ma�r ramove Trustee a��d appolnt e succeseor truetee by firet, maiting a copy of the
<br /> , eub�tftuilon of trustee ae requtred by applicoblo law, and then,by tiHn�the subatitution o!trustee for record in the offfco of the replator of doeda
<br /> , � of e�ch county In which the nuat property,or some pert thereof,Is e tuated.The succeasor truateo,wfthout convoyanco of tho property,altall
<br /> „ succeed to ell the powor,duties,euthorfty end title di the Truatee nemod in the deed of iruat rnd of eny succoasor trustoe.
<br /> , � ,
<br /> � i
<br /> fP�Be 2 0/71
<br /> - lANKER9 6V8T(MS,INC�.6T.CLOUO.MN 66901 11�800•�87•?7N1 FOAM tlCPJHT6HE O11BN1
<br /> ' I ' .
<br />
|