|
• �
<br /> • - �,,,, • �
<br /> _,�., . --
<br /> �...._, . � �.. ,,.�FS,,.��„�.
<br /> ..
<br /> , .
<br /> „ . .�.. ,t
<br /> •--_ .-�� �
<br /> _ ._.�__. _
<br /> "�"r��IFIY"'... - �� . . , ._ .. _ . - _._ _ . '__ � .�_ - ' i,��, _ .
<br /> _.... . .:�e?:u..... ._..._. ... - U .
<br /> I p� ��I� µ� y "
<br /> COVENANT9 ;�V° �����►"7a�' --=�^,
<br /> „ poym�i�to�Londorrroco�vooflfrom Bor owor oIr lor porrowur'U bonofit v�l�ll llaboppl od fidrol to Any om0untrt 9otar wor ov�ao on th�teoCUrod clobt --
<br /> ezclutive o1 Interest or pri�clpal,eocond to lntorest,enJ thon to principul.If portfol propoymont of ti�o aocurod dobt accura for ony roeson,it wfli
<br /> � not :6Euca or s::cueg eny ar,hnduled paymont until4ho newred debt le patd in fuil. _ _ ... _
<br /> Z.CIYm� Rp�intt 41tl�.9orrower wlil poy elf texee,easea�menr.o, end other cherpee attributebie to the propnrty whan due end wlll dofond titlo
<br /> to the property ag eln�t�ny cl�lms whlah woutd Impalr th�Ilen of thlt deed of truat.Lender mey raqulre Borrower to estign any rlphte,clalme or �
<br /> de}entes whlch Borrower mey have npalnet pertlea who eupply lebor oe meEerlals to Improve or matnteln the property.
<br /> 3,Imur�ns�. Borrower will keep the property insured under terms accepteble ta Lender et Borrower'e expcneo end for Lendar'8 benefit. All
<br /> ' Ineurence po��cie�shdi Inciude o etendard mortGepe cleuae In tevor o}Lender.Le�der will be named ne Ioea peyee ar ae the Insurod on nny such '
<br /> or�tolhs�aeeurid debt I}Lenderiequl►e,�mortpapi Pniunnret Boriowerrepreiei tolmsintaintauchhnaueance for ea lunp`as Lendorercqu/o Property '
<br /> 4,Prop��ty.Borrower wlll koep the property In pood eondltlon and make ell repeiro reasonabty neceneary.
<br /> � 6,Exp�nse.Borrower eyreet to pay ell Lender'e expenaee Includlnp roesonable ettorneys'fnea,if Borrower breake eny covonants In thls dead
<br /> + of truat or In eny obllpetton aecured by thlo deed of truet.�orrower wlll pay theae emounte to Lender aa provlded in Covenant 9 of tfiis deed of
<br /> � truet. . -
<br /> 0, ptlor Securiri lntxe�te,Unlesa Borrower first obteine Lendar's wrltten consent,Borrower wili not make or permit eny chanpas to any prior "�
<br /> I eecurity intereste. 8orrower wiil pertorm ell of Borrower's obligetions under any prior mortpege, deed of trust or other securrty agroement, ,
<br /> I Inciuding Borrower'e covenanta to meka payments whon due. �''��'�,
<br /> �c.t�,,..._,
<br /> , � �, qplpnm�nt of R�nu�nd Profib.Borrower aaalgne to Lender ihe rente and profits of the proporty.Unless Borrower and Londar heve egreed �����,
<br /> otPs:.nvisa in v�ritirtfl, Borrowe�mey collect end retaln the rents ae lonp ne Borrower la not in dofeult. If Borrower defaulte, Lendot, Lender's
<br /> , ,.��.o�::
<br /> ' Bpplied firbt to the costs of rmanaginmflthe p oper y, Includin pd c urt cost�nnd att r eys cfoo�;�mm�88�o e to rental egents�a�ndtany o�ther _
<br /> � nacesaesy related expanoes.The remnining emount of►ente vrtll then opply to pbymente on the 3ocured debt an providod in Covonont 1. :.,,z��=�_--
<br /> . � �.,.'.;��+:—
<br /> Borrower egroee to cc, oiY with t�se prov.s:oas ot o.��r�r:ase if thls deed of trust is on „ .',_c.,
<br /> t
<br /> e. L�uehdas•eonaoeanfume;Pl.d,.a unie wvaopm.nt•. .. ,._.
<br /> �� e leeeet�otd. i�ttila dead of truat Is on e unit in e condominium ar e plenned�.r';t avelopment,0.�rrow�r ve�l�'nrm all of Borrower's dut es
<br /> �. under the covenente,bylavie,or roputatlons of the condominlum or planne0 crn:tmatopmenQ. �:'°_i; —
<br /> g, Aatharity o}L��to P�r(am tw dortow�r. If 8orrower ta•!n tn Certovm n�Y of Bortower'a dutiee unde►this deed af 2tist. I.ertda c�ml ,;r T`-.
<br /> •"�` perlarm tho dutles or cause them to ba performed.Lender mey s'��Ga�*ow��•s name or pay 3�Y amount if neceasary ica pr�Carmanc�a.I9 A�ti N
<br /> ,!`."'•� � conouuctlon nn the proporty�a diacontlnued or not cerried on In a re�son�9fa�onner,Lender maY do whetever is neeess�lr Rm p?otsot L��dar's ��_�.�.•..:
<br /> �''°���� � , sacudty Interest in the property.This may include completlny the consttuct�on. �,wai.+•"—'—""
<br /> � i .� LenCer's fafluro tc p�orm wili not procluda Lender from exerclsfrtg eny of Ita o���n rights under the law or this�:*_d of trust. ����a�.���_
<br /> „ � ��
<br /> �, � tace�orpounts peid by Lender to protect Lender's eecurity intereat will be seaured by thia deed of ttust.Suci9 amounte wlil be due on dernnn:3 _
<br /> � :.•.�et Inte►eet from the date of the payment until paid fn f�.i:1 at the interest rete In effect on tfie eecurod debt. ,� r_'�
<br /> .. r o.,�. -- ---
<br /> ' ��'' �p,p�T�uit �nd AccN�ntion. If Borrower fails to mske any 1�aY�ient whon due or breake eny covenanta under this dead of truei or any ,v,�'t;,,
<br /> : � o011qetfon secured by thia deed ot truat or any prlor mort�aga cr deed of truat,Lender mey eccelerote the maturity ot tho socured debt and
<br /> demmd Immediete payment and mey Invoke the power of sate ond eny other remedies permitted by epplicable law.
<br /> � £ 1�,R�qunS tu Notic�of D�fault.�t le hereby rnquested that copies of the notices of defautt and sele be sonII 4a each person who ia o I��n^I
<br /> � `�---� ' heroro, et me addreae oi oaC��s:M�o-'���n•�=�-!t�sLh!!�'o?n _ —
<br /> j/� . �
<br /> '•�� �B.Pawe of SN�.M the Lende7 rnvokes the power of eete,li�x 4vustee shall flrat record in the oftice of tha cmei�tar ot clands al ench county
<br /> .'�'�''"%' " vWiwreln the uus2 C�oDarty or soma par4 or percel thereof is sit�acad�notice of default containing the informat8an required Q+i)lnv�•The Trustee
<br /> ,��, ., � eroto,and to n2her gersana us Fresctibed by .
<br /> ' `•"�' sh�n a3so ma:l eq,,vea of the nat(Ge of defeult to the Borrower,ta aaeh person who is a PertY h
<br /> �1��' �'-� �' eppticable law,l�;�i aoss then one month after the Trustee recarda the notice ot deteuit or two months if ��ce Vust praparty � rtot in any '�
<br /> �•��'��:� Inwrporeted c�ty m vill�fle�nd ia used in farmin operationa carried o�bv the L'ustor,the fruatae shall give g�Diia+wtiee of salo to the yors�ns .!
<br /> •� .+:`�' and In tfw manner preacribod by apppllceble law Trustee,without demar.d�n 8orrower,shell sell the prd;�a'.7•�public nuction to the hiflhast ' �':1
<br /> bidder. !f requlred by the Farm Fiome�teed Protectfon Act,Trusteo shaU o�*er :ha property in two sepereto cn7os a�required by epplicable Iow.
<br />- Trwtee may postpone sele of e11 or any parcel of the property by public annauncement at the time end plece mY any previously echeduled sate. �.
<br /> Lender or its desipnee may purchase the properry at eny sele. ?'°
<br /> The roCitfaic containsd in
<br />- Upon receipt of paVment uf ths price bid,Trustee chall deliver to tha purchaser Tmatee's deed conveying the property :r:
<br /> TN�tee't deed shdl bs prima facle evidience of the truth of the stetemente contained therefn.Trustee ehsil epply the proceeda of the e�le in the
<br /> folbwinp order: la1 to all sxpanses of the aale, Includinp, but not limitad to, reuomble Truatee's feeo, reoaonable attarney'e fees �nd
<br /> `� r�lnstotement feea;(b)to ell euma securod by thla deed of truat,end lcl the L.�:ance.If any,to the persons lepally entitled to rocelve IL __
<br /> �" 13.Frx�osua. At Lender'e option,this deed of truet may bo Porectosed In t:za mAnner provide by appllcablo law for toreciosura ol mortpopss ���
<br /> ' on roe1 ptoparry.
<br /> , ��' �a , ceute fa�r4Ler�ider s inspectlon�ter tha property to Inspect it if Londer givos 6orrower notice beforehand. The notice must etete the reasonabls
<br />— �-��x��;; ..
<br /> ' 16,Cond�nxNtton•Borrower esalgna to Lendor the txoceeda of eny award or cleim for damagea connectad wlth e condemnation or othar takinp
<br /> '-' �. ?' �:, of UI or eny p�rt of the p+operty.Such proceeds wil►6e applied ae provlde�in Covenant 1.Thla assignment is eubJect to the terms of eny prlor
<br /> `�4 �(,�?i �' secinitveflreemern. —
<br /> =��r��. ' 18,Waiwr.By exercising any remedy eveiteble to Lender,Lender does not give up enV rlphte to later use anV ather remedy.By not exercising
<br /> - s any ramedy upon Borrower'o defauit,Lender doea not welvo eny right to leter consfder the event a default If It tiappena a�ain. _---
<br /> _. :',;�•, 17,JaiM �nd 3�wn1 L1�WIity: Co'�D�►�% Succ�sson �nd A��ipns Bound.Atl dutlos under this deed ot trust are Joint snd sevenl. Any
<br /> ,.:;�_;.,.., ' : �: Borrower who co•dpns thle deed of trust but doea not co•sign the underlvinp debt inauument(s) doea eo only to pnnt and convey that - _
<br /> �: 8 o r r o w e r's i n t s r e a t I n t h e p r o p e r ry t o the Truatee under tho terms ot this deed of trunt.In addition,such a Borrower apreen thet the Lender and __.
<br /> � 1;� any other Borrower under this deed ot truat mey extend,mo d l{�or ma ke any o t h e r c h e ng e e I n t h o t e r m a o f t h l s d o e d o f u u s t o r t h e sacured
<br /> —� • debt without that Borrower'e consent end wlthout reteasinp that gorrawer trom the terms ot this deed ot trust.
<br /> — • TAe duUos and beneftte of this deed of trust shall bind end be�eflt the successore and asaigns of Lender end Bortower. _-
<br /> 18.Na6c�.Uatess otherwiae required by law,eny notice to Borrowor shall be ylven by delivering It or by melling it by certifiad ma[I addressed to =---------�--_
<br /> ',�� 8arrower at the property eddreas or eny other eddreao that Borrower hes piven to Lender.Borrower will ylve eny notfce to I.ender by cenified
<br /> � mill to Lender's addrese on pape 1 of thle deed of truet,or to eny other eddrese which Lender hes dealgnated.Any othor�ottce to Lender shall A
<br /> 4� �i � be sent to Lender'e addreat as eteted on pege 1 of this dt+ed of trust. ��•i.
<br /> A`:.
<br /> � � � rAny notice ahaii be deemed to heve been given to Borrower or Londer�whan given in the manner otated above. � �
<br /> ���'. • .Y .
<br /> ' �' 19.Tnnsf�r of th�Prop�►ry ov�B�fidM Int�nst in th�Bonuwx.It all or any part of tho proportY or eny Interost in it Is soicl or Venaferred V ��*:
<br /> � " without Lender's prfor writton consent, Lender may domand Immodiato pnyment of tho socured debt. Lendor may also domand Immedta4e ; ��•�.
<br /> t
<br /> .�i�; paYment if the Borrower lo not a natural petson and e beneflclal fnterest in the Borrower Is snld or trenaiorred. Howevet. Lander may mt .�•.'�'�r ��1.�.�':_
<br /> • ;�• • demand payment In the above sftuntlons it it fa prohibited by federal law as of the date of thta dood di trust. ��'�•'•�.. •
<br /> . �,...� �i'_i;',':`.
<br /> _ � ��._i-:l:c.� -jw,:,�� �
<br /> � 20.R�con��Y�nc�.WNon the obiiflotton secured by this deed of trust has boen pal�,and lender has no further obtigation to make advanros :_.;�.',;;
<br /> under tha inst►umonte oe agreemdnts secured by this deed of tru3t,the Truetee sheli,upon wrinen request by tM Lvnder,reconvey the trust '�� .� ,
<br /> ' poperty. The Lendor shell delivar to tho Borrower,or to Borrowor'6 suecessor In Interest,tP�trust deed artd tM note or othor evidence of the ,` :
<br /> _ ._
<br /> o6lisatlon so setisfied.Borrower shall pay eny recordation costa, t�
<br /> . . --- --�°--- ... ._� �_m.... � .....,.. .. . - — __
<br /> __._ _--: .:.__.�.. �na�� •r.�....ry .. ..vr� �. ...� _- _ __ ..--_ .
<br /> � 31. 3ucc�i�or Tn�s2N. Lender, et Londer's option, maV removo rruatee ena eppomi a euc�vaav� ..��.� �, -- - .-
<br /> cubstitutlon ot Vu3teo as roquired by oppticebte taw,and then,by filin�tho substitution of trustoe for recorcl i��ttv�oHice of tho rogister of deeds
<br /> eucce d to el�he power tdutiese authoitrtjrYnnd title of th°Truat e named In�t e deed of trust er+0 04 any isur essor trustoe,of tho property,shall
<br /> fp�pe 2 0/71 �
<br /> � pAHKE86 SV 6TEM6.INC..ST.CLODU.MN 6EE01 Il•s00�981�73411 FO�M OCP•MTaNE 8�18N t , _ -�
<br /> I ,
<br /> I
<br /> �
<br /> � I
<br /> I _ _.. .. ..-_- .._.... .... . ..... . z - .
<br /> .. . .... -. . .
<br />
|