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<br /> � �' 1d9�913 ,��,�::
<br /> COVENANTS .. `'
<br /> ,� =.i.
<br /> I 1. P�yenmte. Borrowor eflvaoa to mako nil pnymcnts on tho eocurod dobt whon duo. Unloas Bar:owor and Londnr aflroo otheiwleo, nny ,
<br /> poymonto Londar rocoivaa ftam Borrov�ar or for porrawo�'a bonotit wfll bo appllod firot to ony amountn Borrowor owoa on tha nocurCd dobt
<br /> exclualve of Inteioet or pilnClpol,eecond to Intereet,nnd thon to princlpnl.If p8rtlal prepeyment ot tho secured dobt uccure for artiy roaoon,it wiil ,
<br /> not rcduce or er.cusa eny scheduled peymonY untll tho socurad dobt la pald in tull.
<br /> 2.Ci�lm�Ap�intt Tld�.Oor�ower wlll pay elt texes,eeeessm�nts, and other cherdes attribuiable to the propsrty whon duo and wlll defend tltle �`'�`"
<br /> to the property�pa�nst eny clelma which would Impelt the lian of thls dood of trust.Londer may require Bortawor to asnlgn eny riphte,clalma or , -`-�
<br /> defenseo which Borrov�er may hwe eqsln�t partlas who eupply lebor or matorlale to Improve or mainteln tho property. ^��_;n�'_
<br /> ° I 3.Inmm�c�. Borrower wiii keep the property Ineured under terma accepteble to Lender at 8orrower'e expense end for Lender's beneflt. All - __�
<br /> � Innurnnce policlen ahell Includt e otendard mort e{�e ctauso In fevor of Londer.Lender will he namod as lasa payeo or na thu Insured on any such `•�<--
<br /> In�urence policy.Any Innurence procoede msy�a epptied,within Lendar'e diacretion,to either tha reatoration or rapeir oi tfie damoped proDarty � - -
<br /> or to the�scured debt.if Lender requlrea mortpege Inwnnce,Borrower apreee to melntoin auch Insurence for as long ee Lender requlree. • _.--
<br /> _ , - 1.Rroporty. 8orrower wfll keop tho proparty In good condltion und meke all ropatra roaeonably nacessery. � `�;�f
<br /> � • �" 6.EKp�nus.Borrower apteea to pay all Lender's expenaea,Includin@ reaaonable attorneys'fees,If Borrower braeks any covenante In this deed -;=__=
<br /> of truat or In eny obligetlon eacured by thla deed of truat.Borrower wlll pay these amounts to Lender as prorlded In Covenent 9 of thia deed of
<br /> :,.^.
<br /> truet, ___
<br /> G.FBav 6�cuelty IntxacU. Unlosc Borrowar firat obtoins Londor's writtan consent,Borrotver will not make or permit eny chengea to eny prior - __ _
<br /> aecurtty Interaace. Borrower will pertorm elt of Borrower's oblipetlons under eny prlor mortgepe, deed of trust or other eocurity agreement. , _
<br /> Includinp Borrower'e covenante to meke paymente when due. � :::-
<br /> � 7.A�s!p�n�nt of R�nt�md Proflta.Borrower esslgns to Landor tha rente and profite of the properry.Unlesa Borrower and Lender have agrood ���'�
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<br /> �; otherw sl e In wrtting, Borrower may coliect end rotein the rente ae long as Borrower is not in dofault.if Borrowor dofaults, Lender, LendeYs ,:•%___.
<br /> aaent, or a court appointad roceiver mey take passession and manage the property and cotlect the rente.Any rents Lender colleato sholl bo �.:,�,�,,,,_
<br /> epplled first to the coate of manaping the properry, includinp court coata and ettorneys' feea, commissiona to rentai apants, and any othar � , . ,„;;___
<br /> neceseary related expenses.The remaining emount of rente wili then apply to payments on the cecurad debt as provided in Covanant 1. .,,�:%t:�==---
<br /> 8.l��s�hdd�•Condomidum�;Plann�d Udt D�v�iopm�nu.Borrower agrees to comply with tho provisions of eny leaso if thls deed of truat la on � ;s�j���`•�-�� ._ -
<br /> � a Ioasehoid. It thls deed ot truat ia on a unit in a condominium or e planned unit davotopmont,Borrovlor wfll purform ail of Borrower'e duties L',.r�.
<br /> undor the covenante,bylawa,or rc�gulations of the eondominlum or planned unit development. ���{'��'�;.----_ __
<br /> �i ,.�l�tirna�--"
<br /> 9.Authaky of LendN to Peform tor Oorrowix. If Borrower falts to perfarm any of sorrower's duties under thia deed of truat, Lander mey 1;�o.•u,_.��-.-:
<br /> perform the dutiea or cause them to be parfarmod.Lender mey aiqn 8orrawer'e name or pay any emount i1 nocessary for performence. Ii any ..• .,•. .T-��°
<br /> conatructipn on the praperty la discontinued or not carrled on in a reaeonabte menner,Lender may do whetever le neceesery to proteot Lender's :;��:;'bS•�',��_=_-
<br /> security intereat In the property.Thia may Inciude completing the aonstruction. .I �'� '?
<br /> . y l...;M1aM1Y�. -
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<br /> Lender'e faiiure to perform wi�not precludo Londer from oxercisinp any of Its other righte under the law or thls deed of trust. �';+: r�,"�
<br /> Any amounte paid by Londer to protect Lender's security intenist wilt be secured by this doed of truat.Such amounte will be due on demend �''u'w`��'
<br /> •� and will bear Irttereat from the dato of the payment until paid In fuli at tho intereat reto In eftect on the seCUred debt. .^�-"- --
<br /> 10. Defeutt�nd Acc�leatlon.If Borrower feils to make any payment when due or breake any covenents under thls deed of trust or any t,
<br /> � obligation secured by this deed of truat or any prior mortgage or deed of truet. Lender mey accelerete the maturfty of the secured debt end
<br /> demend Immediete payment end mey invoke the power of sale and any other remedlea permitted by appllaable law.
<br /> _ _ _ • 71.R�quut ta Notic�of ON�uh.It is hereby requeated thet coples of the noticos of defeult and sale bo aent to each pereon whu ia e party .. �
<br /> � heroto,et the edtlrets of each euch parson,ea set iorth i�arein. J �-
<br /> � 12.Poww ot 8�is.if the Lendar invokea the power of eate,the Trustee shall tirst record in the office of the replster of deeds of each county ,;
<br /> � wMreln tha trust propertl+ or aome pert or parcel thereof is nitueted a notice of defeuit contalning the Informetion required by law.The Truntee
<br /> ahail atto mall coples of the nottce of defeult to the Borrower, to each person who la e perty he+reto,a�d to other persons as prescribed by ��
<br /> > eppllcable law. Not leae then one month efter the Trustee recorda the notice of defeult, or two months If the truet property la not in any • �
<br /> •- inuorporeted city or viilape and Is used In farming oparottona cnrried on 6y the truator,the Truatee shell give publlo rtotice of eele to the persona -
<br /> and In the menner prescribed by�appplicebte law.Truatee, without demend on Borrower,shall eell tha propeRy nt publla auction t�the htyhe�t
<br /> � bldde►.If required 5y the Farm Nomesteed Proteatlon Act,Truatee ehell offer the proporty In two separate sales aa required by epplicabte Iew.
<br /> ' ' Trwtee may poatpone eeto of aii or any psrcel of the propercyr by public announcement et the time end place of any previaucly ccheduled sale.
<br /> • Lsnder or Its designee may purchaae the property et any aele.
<br /> � ' Upon rece�pt of payment of the price bld,Trustee shall deliver to the purcheser T�ustee'e deed conveying the property.The recltiab contNned in
<br /> � Trustea't deed ahall be prima fecfe evidience of the truth of tho statemente contained thereln.Truatee shatl epply the procoeda of tlte�de in the
<br /> followinp order: (al �o eil expensas of the sale, Including, but not Iimited to, reaeoneble Truatee'e feea, roasoneble attorney'e teea end —
<br /> " • . reinatatement fees;(b)to all 6uma socured by this deed of trust,and ic)the balence,if any,to the pereons lepelly on4ltled to rocaive k. — _
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<br /> =<"=--:. ,,* 13.Fonelown.At Londer's option,th18 deed of trust mey he foreclosed In the mennar provide by appllcable law for fo►ecloauro of mortgages �'�"
<br /> ='-F'•�r'ul;s�, on roal property.
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<br />_::;._T, _,�-� 1a.fn�pr4lcsi.!onder may emer t1e prapercy tu Inspect It i!Lender givoc 6orrower notice beforehand. The noNce must et.ata ths reaeone e �,
<br />'•°�-�--��y�� ceuae fa Lendar'a iuepeaiion. �u�� _-
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<br /> `.x•:.._ r 18.Cond�tnmSon.Borrower esaigna to Lender tha roceads of eny award or ciaim for dema9ea connected with e condemnatlon ot other taking
<br />_��:�i of ell or�ny pm o}the property.Such procaedn wiP be epplled as providad In Covanant 1.Thle assignme�t Is subJeot to the terma of eny pdor
<br /> i �`',' ;� securityeyreement. __
<br /> :K5 `:.`�� 9B.W�vw.Dy exerctalnp any remedY evaitable to Lender, Lender does not flive up any rlphts to latcr usa any othor remady.Hy not exerciaing __ --
<br /> -a-,,;� �`� A' any remedy upon 8orrawer e defeult,lender does not walva any right to leter consider the evant a default If k happena epeln. _
<br /> ':. ,s, .......` ��:
<br /> 1�`1.�:,�..- � 17.Jdnt �►d S�wtM LI��• Caslpn�n; 3ucceasun �nd A��Ipos Bound.All dutiea under thia deed of trust ero joint end aeveral. Any =_
<br />�:_;�y'��'w� � Borrower who co•signa thl'deed of ttust but daea not co•sign the underlvine debt Mstrument(e) doea eo oniy to prant and convey that .�•:
<br /> Borrower's intereat In the prope�ty to the Truatao under the terms of this decd of truat.In additlon,auch e Borrower epreaa that the I.ender and �;�_-
<br />- ",;,,<;,.:�'�" � �;�� any other 8orrower under thle deed af truat mey extend, madifv or make any other chenpes in the terms of thle daed af truat or the escured �_
<br /> debt without that Borrower's consent end without reieasing thet garrower hom the terms of thla deed of vuat. C� —
<br /> �;:�J� , i� �
<br /> ����� • TM dutles and benef(te of thle deed of trust eholl bind and bonefit tha successors and esaipna of Lender and Borrower. ��'_ -
<br /> � ' ' � 18.NoUe�.Unleas otherwiso requlrod by law,any noYice Yo Borrower ehall be plven by delivering ft or by maulnp It by certifled meil addroased to i��`-��l=--=—
<br /> • Borrower et the property addroas or any other eddreaa thet Borrowar has given to Lender.Bonower wllt give any notice to Lender by certifled :s�-�_ -_-
<br /> � ' ' �zt mnfl to lender's addre�s on pepe 1 of tf�la deed ot truat,ar to ony othor addroea whlch Londer has desipneted. Any othor notica to Londer shell "'���`-'
<br /> � •&', be aent to Lender's eddreaa oe otated on pego 1 of th(s deed of trust. _,.',",;;���;�,
<br /> � ,.���i Any notice ahall bo deemed ro have been pivon to Borrower or Lendor when given in tha manner stated above. ����arrua�
<br /> « ":+:i ,'f" ' r'. �.,�xa�i�:�
<br /> • � 79.4ransfa ot tM P�op�rty a�8�1{cld Int�n�t In th�Bortow�r.If all or any part of the propertv or any Interoat In it In sold or trenefened :�,, �,,•..-,_.,_,._,._:
<br /> � without Lender'a prior written oonsent, Lender may demand immediete payment of tha aooured debt. Londer may al�o demend tmmedlato ��:�<<<,�.�;:i•�
<br /> '•%�.` � ;, �. poyment if tM Borrower is not n naturel pereon end e bonefiolel intereat in tho Borrower le eold or traneferred. However, Lender may not �,�--. f
<br /> � demeM psyment in the above situationa It it IA prohlbked by}ederel Iaw as of the date of thia deed oi trust. ,,-";'�-` '`'��+� i,°,
<br /> J:��.,• ' •• ,
<br /> '�' ,,� 20.R�eonvoy�nc�.When the oblfgatlon oecured by this deed oi trust has bonn paid, and Londer has no furt hor o b l igat ion to ma ke e dvances - •••r`�.��=•�='
<br /> ;�.'ea-• :..c�
<br /> undar the instrumenta or agreements eocured by thie deod of trust, tho Trueteo shall,upan written requast by tha Lender,reconvey the truat __ � +�, .
<br /> k-' � � proparty.The Lender ehatl tletiver to the Borrower,or to Borrower's successor in interost,the truat deed and tho note or othor ovfdence of the :.:c � �
<br /> � ' obligation so setiafied.Bor�owar eheil pey eny recordation coste. �. •'
<br /> '` 21, SuccQSia TruttN. l.ander, at Londor's o�tion, may removo Trusteo and appoint a succassor truatoo by firet, melling a copy of the � �
<br /> • � substitutlon of trusteo es ruqufrod by applicable aw,ond then,by tilfng the substitution ot truatoo for record In tho offico of tho rofliator of daeds ,
<br /> 7 of each county in which tho trust property, or some part thoreof,Is situeted.Tho auccessor trusteo, without conveyance of tho property,ahall
<br /> � succeed to ali the power,dudos,euthority end title of tho Trusteo namad In the dood ot trust and of any succossor trustoo. . •
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<br /> � - BANKCF96VSTFMS.INC..ST.CLOW.MN 6E301 11�800�997•2J�11 FOR�A OCP-MTp�NE 8�i8/81
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