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<br /> COVENANTO �" �Q�p1�y
<br /> 1. Peh�e�te. Dorrowor oproon to mako all paymonto on tho oocurod dobt whon duo. Unlono Dorrowor und Landor nprca othorwiso, any
<br /> peymente Lender recolvea from 8orrower or for Oorrower'a benellt will be epplled fl►et to any emounte Borrower owae on tho secured dabt
<br /> exclualve o}Intoroet or principe7,aocond M Intereet, nnd then to p►Inclpel.If pertial propeYmont of tho sooured debt or,cure for eny reoson, it will
<br /> not reduco or excute eny acheduled peyment until the eecured debt la peld in}ull. , �
<br /> � Z. ClNms Apolnt9 Titl�.Bonower wl�l pay ell tAxe�,a��eaamente, end other cherpe�ettributeble to the Rroperty vuhon due end wlll dofend title , J _
<br /> to the property ap elnst my cldmo which would Impsir the Ilen o}thla doed of truat.Lender may requlre Borrower to aselgn any riphte,cialme o►
<br /> defen�s�which Borrower mey h�ve ny�Inst partl��who wpply I�bor or meterlals to Imprave or malntain the proper4y.
<br /> • I 3. Intunna. Borroaer wfll keep the propeny inaurod under tormo ar,ceptable to lender at Borrowor'o expenae ond for Lender's benefit. All
<br /> • inaurence policiet chali include��tandard mortg�pe clause in favor of Lendsr.Lender witl be nemed ee lose payee or ae the inaured on any auch •
<br /> . Inaunncv policy.Any inarance proceede may be�pplled,wiihin Lender'�ditcrstlon,to elther ths reatorotlon or repilr of the dameped property �
<br /> or to the secured debt.If Le�der requfres mortpape insurance, Borrower agreee to malntaln nuch inaurence for ee long ae Lender requtree. ' � ,
<br /> ,�.�,u,��� 4.Propoty.Borrower wlll keep tha property fn good conditian and make all rep�in reasonably neceseary.
<br /> "" 6. Exj»ntst.Borrower epreea to pay ell Lender'o expenaes,Inciudinp roatoneb7e attorneya'fees, if Borrower breeke any covenante in thla deed ,
<br /> oi truat or In any oblipetion aecured by this dead oi trust.Borrower wlll pey these emounte to Lender as provided(n Covenent 9 of this deed of
<br /> truat. , .
<br />� 8. Pdor S�curity Intsnau. Unloso Borrower flrst obtains Lender's written consent,Bo►rower will not meke or permlt any changea to eny prlor �
<br /> � necur(ty Intereate. Borrower wilt pn�form all of 8orrower's oblipatlons under eny prlor moriyape, dexd of trust or other socurity agreement, ;:.:�:t��'' ;r
<br /> includinp Borrower'�covenante to make paymente when due. !+` :� ;
<br /> •.;:ir�?�s�;"
<br /> � 7.At�lpnm�nt of R�nU�nd Proftt�.Borrower asalpns to Lender the rents and proflta of the proporty.Untese Borrower and Lender have apread '"�'=---
<br /> �+ otherw s�e In w�itinp. Borrower may collaat and retein the ronte as lang as Bor►ower is not in defnult. If Borrower defauite, Lender,Lender's '
<br /> agent. or a court appolnted recelver may teke possosaion and manage the properry and coilact tho ronts. Any rents Londer collects shail bo �°•;�...,'.%�°_-_ —_
<br /> � epplied firet to the coete of inenaglno tho properry, includinp court costs and attomoys' fees. commiealons to rnntel atLente, and any othar �� ".� - -
<br /> nec�te�ry rolstW expensea.The remaining amount of rents will theo apply to paymenut an the escurod debt et provided In Covenmt 1. �?��'�"'_
<br /> ;�.':u:--
<br /> , ° D.Le-.::loa: Cors:;ar.'r�ums;t'lersa:d UrsSt Qav:lapm=nm.Borrowcr aproos to comply r.:,A tha provlsiona ot any loaso if thla decd of tru�t la on -•�.•: , - - -
<br /> * � e leesehold��this deed o1 truat ia on e uNt In a condominlum or a planned unit dovr�;��ment, Borrower wfll perform all of Borrower'e duties • '',:,
<br /> under the covemnte,bylawe,or regulationa of the condominium or planned unit deveto;�ment.
<br /> ..�y'd'�,�r�,
<br /> 9. Authority of l�ndsr to P�dorm 4or Borrow�r.If Borrowor fails to�porform any o7 9orrowor's dutloa under this deed of truet, Londor may ��` --_:--_ _
<br /> pertorm the duties or ceuae them to be pertarmed. Lertder may sipn 8orrower's nem� cr Pay eny amount if necessary Por performance. If eny ,, =--
<br /> �. � connruction on the property le discontinued or not crx�J�:1 on in a reeaonable menner,l.o�dor may do whatever is necossery to protect Lender's =� _
<br /> security intereat In tfie properry.Thla may Inciude comp:nYir.g the conetruction. �i�;=�++%-
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<br /> "' Lander's failurs to pe�form will not preclude Lender f�om exerclsing eny of ite other riphts under tho law or this deed of trust. "�"-��
<br /> '•r•�� Any�mounte pald by Lender to protect Le�der's aecur(ty Intereat will be aecured by thli deed o4 trust. Such emounts will be due on demend . :,.?�`
<br /> and wfll6ear Intereat from the date of the payment until pald in fuil at the Interost rete In eftect an the secured debt. _
<br /> �� 10. D�twlt�nd AuNK�tlon. If 8orrowar faits to meke eny payment when due or breeks any covenents under thla deed of truat or eny
<br /> oblipatlon aecue�d by thia dsed oT uuet or eny prlor mortpnpe or deed of tnist, Lendor may accelerete the meturity of the necured debt end • _
<br /> demend Immediate psyment end mey Invoke tho powor of sate end eny other remedloo�sermittad by eppltceble taw. :-;
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<br /> -� - --� i i.ni�iii"a i�i isvir:3 ui viiiiwi.ii ib i�niouy ioyUobio�ii�ni uupi65 iri ii�o ii3iiGoo O� aini6uii diw 6die un eoi�i iu o6ul"�Noiouii rii�v ib 6 ji6�iy
<br /> , !'�t'f'. . horoto,at the eddresa ot each auch pe►son,as aet forth herein.
<br /> • �' 12.PowK oY S�N.H tM Lender invokes the power of eele,the Truatee ehalt flrst rocord In the office of the repister of deeda of each county
<br /> wherein the trust property or some pert or parcol thereof ia siivated a notice of dafau{t containin the inTormatian�equtred by law.The Trustee
<br /> shail eleo mafl coples of r're notiee of default to the 6:rrowar,to each person who i�a party�ereto, and to otRer pereone es prsacribad by �
<br /> +� appliosbie Iaw. Not lea�c:�an one month afte� the Tn:scae rocord�the notice of d�auft or two monthe ff the truat propArty Is not In any 1 ,
<br /> � Incorporated city or viliepe m�xl Is usad in farminp opera�ana carried oo by the uustor,8he�'rustee shall plve pubilc notice of sele to the persons
<br /> ' ' and In the manner preacrlbed bY�appplicable law.Trustee,without demand on Borrower,ehall setl the property et publio euotlon to the higheat -
<br />��'�;�•' 6t��",i' bidde►.N requtrod by the Farm hlome�tead Protection Act,Truetee shell oNer the properry in two eeparate sste�as requirod by appticeble lew. 4•
<br /> -.ai�f,t t• . �-'°
<br /> :;_��..�;,f,y�•;,• Tru�tee may postpone e�le of efl or sny parcel of the proparty by public announcement et tl�e time end plece of any previoualy scheduled eale.
<br /> , � Lendet or Ite deslynee may purchaae the property at any eale.
<br /> __, .. .;,,:+ Upon recelpt of paYment of the price bid,Trustee ahall deiiver to the purchaser Truat�e's deed conveyinD the property.The recidnl�wntalnod In 'r.
<br /> _. Truatse's deed shall be prima facfe evidience of the truth o}the etatemente contained L�arein.Truatee nhall appiy the proceads of the ale In the
<br />_ ' ' foltowlnp ordar. Is) to ell sxpensas of the aele, InctudinQ, but not Iimlted to, reasonable Truatee's feea, roaaonabte attorney'B fees and -
<br /> . reinatatsment fees;(b)to eil sums secured by this deed ot trust,end(cl the balance,If any,to the peraona lepally entitled to recefve It.
<br />"'="%�'��'�'�k 13.Fonctown.At Lende►'e optlon,this deed of truat mey be foraclosed In the menner provide by spplicable law for torecloaure of mortpapea ��
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<br /> =;�rr-�•�,. onrealproperty.
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<br /> -'::�r'.:,,:;; 14.In�p�c�on Lander may enter the property to mspect+t�t Lender gives tlorro�•+er notice betor3hand. The notice must state the reasonablq
<br /> - -••:+�r•�.• cause of r Lender'e Inspe�,;.m.
<br />-��-:r.�r:,. .
<br /> °��`,��,..'� • 16.Cond�rtw�tlon.Borto�wr assig�na to Lendar the�roceads of eny ewerd or ciaim tor damaQ as conneoted with e condemnation or othe takinp °
<br /> l--=. f,�2� . of all or�rtV Fart of the proFarty.Such proceeda will be epplied ea provlde�In Covonant 1,Thla aaalpnment Is cubJect to the terms of my prior _
<br /> °',�_�,:�;JJl�: securiry epraament.
<br /> _ :,`-��b`'_ 1a.WrY�►. _ _�....� --
<br /> By exerclaing eny remedY ava'rlabte to Le�der,Lendar does not pive up any riphte to later uae any other remedy. By not exerciaing
<br /> ��,so4i�ri{�re•• eny romedy upon[iorrower's deisult,Lender doee not weive eny right to later consider tM event a defeult if It heppena egaln. _
<br /> �` �'+` 17. JokH Mtd S�wrN LlabYfty, Cadyn�rr, Sucauon u�d A��Ipns Bound. All du2ios under thfe deod of Vust ere Jolnt and aeveral. Any
<br /> l"�=�: t=. Bonower who casigna thia deed of uusi but doea not casipn tha underlyinp deb2 inst�umenttel doea so only to prent and convay th�t �
<br /> __ r �K%C r ti:. Borrower'e Intereat in the property to the T�uatee under the termfya of thi3 deed of trust. In addition,such a Borrower egreea that the Lender and �_.
<br /> #�i�`�'����� debt wit�hout that Boriower s�conaent end withovt�eleasln�that Borrowe�fram he terme oi this deedtof truet thle dcad of trust or the socurod °=•--
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<br /> _ •����'�`�}� The dutles and beneflte of thia deed of Vust ehell bind end�eneflt the succeaaors end asslqns of Lender end Borrower. ° '- -----
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<br /> •• , �� 18.Notice.Unleta otherwise requtred by law,any r.otico 4o Borrower shall be pfven by afellveriny it or by meil(nQ(t by certitied mafl ed�reeaed to �•_.��_.__.�_�_
<br /> , . . Borrower et the property addreas or enY other address that Borrower has pfvan to lender.Borrower w1i1 give any notice to Lender Uy certitled � - •-
<br /> �• • ,�4 i.,, � maU to Lender'e eddresa on pepe 1 of thla dee�of trust,or to�ny other addresa whlch Lender ha�doatgneted.Any other notice to Lender shall -------
<br /> •tr ,. be sent to Lender's eddreaa a:stated on page 1 of thfa deed of vuet. ; ���, - �- °----�.-
<br /> - '�Y,�;;, � , �s q.����.
<br /> t } Any notice ehall be deemed to h�ve been ptven ta Borrower or Lender when 8ivon In tha menner stated above. —
<br /> a.�, 19.7renshr of th�Property a�6one}Icial IM�mt in tf»Borruw�►.It all or eny part of the prope�ty av eny intt►aat In it le ttold or trenaferred °'�����'a�r'
<br /> � w'r.twut Lender'� prlor written coneont, Lender may damand Immediete payment of tha sacured debt. Lendar may nfao demend Immsdi�n ��•�'`
<br /> r 1 paymont if tfie Borrower I�s not e naturat person end e 6eneHclal intereat fn t1�o 9orro�vor !a eo!d or trnnsforced. However, lendnr moy not .' t �_::�
<br /> ',�: demend pnymont In the ebove sltuations if(t Is proA:bited by toderal law aa of the dato ot this deed ot trust. •. .
<br /> �,�. ��<
<br /> �}� 20.R�eonwyana.When tho oblipatfon securod by this deed af trust hes been pald, and Lendor hes no furtfier obligbtlon to meko advances '�z^•'�i9i.-. '����.
<br /> under the tnstrumente or a reemente secured by thia deed of trust,tho Trusteo ahall, upon written roqueat by the Londer,raconvey the truat "_- t,;��-'� •
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<br /> �,�'� ; pr�rty.The Lender shall elivar to the 8orrower,or to Borrower's auCCessor In interest,the trust deed and the note or othar ovidenca ot the '
<br /> �----- ----- ° - n itL.n en uri�ft�l R.v.nu.0 a6.11 n...�.....�.wa�.l........��. . " .' •
<br /> ' 21. Susca�a TrustN. Lender, ot Londer'a optlon, may romovo Truateo and appoint a successor trueteo by first, mailinp a copy of the �� �
<br /> substitution of Vu�toa as roqulrod by upplicablo law,and then,by filinfl tho eubstitutlon of truatee for rocord in the oifice of the registor of deods '
<br /> of each county in whlch the Vust property,or some part thereof,Is sttuated.Tho euccoasor trustoo,wi^hout conveyence of the property, shell
<br /> . • suoceed to eit the power,d��tles,authqrity and titie of the Trustee namad In the deed of truat and of any successor trustoe. '
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<br /> � - - DANKERS 6VSTEMS,INC.,6T.ClOUD.MN 6E001 11•epp.�g7-1�471 FORM OCP•MTf}NE 8l18/B1 -
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