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<br /> COVENANTS VS'�it�\DQ08 , -v
<br /> 1. F�ym�nt�. Borrower egreee to make all payments on the seeured debt when due. Unless Borrower end Lender apree otF�erwise, any '�:_
<br /> payments Londer recelves from Borrower or ior Borrower's benelit will be applied first to any omounte 8orrower oweo on the secured debt .;::__
<br /> � oxclusive of intorost or principql,eecopd IQ.intorest,nnd then to principel.If partial prepayment of the secured debt occure far eny reason,it will ,__�
<br /> not roduce or excuae any echedkUd{�OYmRn}ui�tH the s@cured debt is paid in full. i;:.
<br /> 2. C I�I I m t A p d n�t T i tl�.B o r r o w a r w i l l p e y a 1 1 taxoi,�asee6sments,end other char gea attributable to the proporty when due and will detend title „�,
<br /> l to the propertV a�pafnst any clalme whlCh uSrould impefr the Ilan of tNS deod of trust.Landor may require Borrownr to ascign any rig h ts,c lai m s o r -_:
<br /> J Qefensea which 8orrower may have aQainst put(ee who 8upply labar o�materials to improve or maintain the property. u
<br /> + 3. In�unnc�. Burrovier will keep the proporty insurod under terma acceptable to Londer et Borrower's expense and for Londer's benefit. All —__
<br /> I insurence policios shell include a atendard moitgage clause in favorof Londer.Lendor will be named as loss payue or as tho insured on any such =Y
<br /> insuranco policy.Any inauranCe proceads may be applied,within Lender's dlecretion,to either the restoration or repair of the demeged property
<br /> � or to the socured dobt.If Londer requirea mortgape Insurence,Borrower agrees to ma(ntefn such in¢urance for ns lang as Lender requfrea. ,
<br /> � 4. Prop�rty.Borrowar will keep the property in good conditton and make ell ropaire reasonably necessary. _ _
<br /> ' 6. Exp�nt�a. Borrower agrees to pay all Lender's expenses,including reasanable attorneys'fees,if Borrower breaks any covenants in th(s deod �?�
<br /> of trust or in any obligation secured by this daed oi trust.Borrower will pey thnse amounts to Lender as provided in Covenant 9 af this deed of �'•T,"_
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<br /> 8. Prior Security Intanst�.Unlesa Borrower fvst obtains Lender's written cqnsent, Borrower will not make or permit any r,hangos to any prior
<br /> security interests. Borrower will perform all of Borrower's obligatio�s under any prior mortgage, deed of trust or other secunty agreement, -
<br /> � including Borrower's covenants to make peyments when due.
<br /> 7. Aasipnm�nt of Rente�nd ProflU.Borrower assigns to Lende►ihe rents and profits of tha property.Unless Borrower and Lender have agreed '� �
<br /> 1 otherwfse In writing, Borrower may collect and retain the rents ee long as Borrower Is not In defauit. if Borrower defaults, Lender, Lender's
<br /> ayent, or a court appolnted receiver may take possession and menage the property and collect the rents. Any rents Lender collects shall be
<br /> eppl�ed first to tho costs of managing the property, including ccwirt coats and attorneys' feos, cort�miesions to rental agents, and any other
<br /> necessary related expenses.The remalnfng amount of rents wfll then apply to payments on the secured debt es provided in Covenant 1. _
<br /> 8. L�as�holds•Condominiumr Plann�d Unit Owelopm�nts.Borrower agrees to comply with the provisions of any lease if this deed of trust is on "
<br /> e leasehold. I�this deed of trust is on a unit in a condominium or a plenned uMt development, Borrowar will perform ell oi Barrower's duties '�:
<br /> � under the covenante,bylaws,qr regulations ot the condominium ar ptanned unit deveiopment. '`•_`- �
<br /> ;j 9. Authority of L�nd�r to P�rfarm for Borrow�r. If Borrower feib to perform any of Borrower's dutlea under this deed of trust, Londor may
<br /> , perform the dutfes or cause them to be performed. Lender may sign Borrower's name or pay any amount if necessary for performance. If any _.
<br /> construction on the property is discontinued or not carried on in areasonable manner,Lender may do whatever is necessary to protect Lender's ��
<br /> , security interest in the property.7his may include completing the construction. ""'
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<br /> Lender's fafiurA to perform wili not preclude Lender irom exercisirg any of its othor rights under the law ur this deed of trust, I -
<br /> ' j Any amounts paid by Lender to protect Lender's security interest wiil be secured by thfs deed oi trust. Such amounts wili be due on demand
<br /> i and will bear interest from the dete of the payment until paid in fup at the interest rate in efiact on the secured debt. �`-
<br /> � 10.D�f�ult sod Accd�ration. If Borrower fails to make any payment when due or breaks eny covenaMe under this deed of trust or any � _.
<br /> ' abligetion secured by thla deed of trust or any prior mortgage a deed of trust, Lendor may accolernte the maturity of the secured debt and
<br /> � demand Immediate peyment and may invoke the power of sale and uny other remedies permitted by applicablo law. -=�
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<br /> � ;I 1 1.R�qu�st for NoUc�of D�f�utt.It is hereby requested that coqes of the notices of default and sale be sent to each person who is a party �F
<br /> � hereto,at the address of eech such person,as set forth herefn. ,,;a
<br /> 12.Powsr of S�t�.If the Lander invokee the power of saie,the Trustee ahall firat recard in the office of the register of deeda of each county "'��-�`
<br /> wherein the trust proAerty or same part or parcel thereof Is snuatetl a notice ot cletautt contaming the informetion reqwreo by iaw.Tt�a Truainn � -
<br /> � shall aiso mail copies of the notice of default to the Borrower, to each person who is a perty hereto, and to other persons as prescribed by ,��--
<br /> '� applicable law. Not less than one month after the Trustee rocords the notice of default, or two months if the trust property is not in eny �!� "�,
<br /> incorporated city or viilege end is usod in farming operatlons carried on by the trustor,the Trustee shall give public notice of sale to the persons x,,, ..
<br /> � and in the manner prescribed by�appplicable Iaw. Trustee,without demand on Borrower,shail seil the property at pubiic auction to the highest •- :,_
<br /> bidde►.If required by the Ferm Homestead Protoction Act,Trustao shall offor the property in two soparete sales as requi�ed by eppliceble law. • ,__
<br /> Trustee mey postpone sale of all or any parcel of the property by public ennouncemont at the time and place of any previously echeduted sale. +'' '�'�.
<br /> Lender or its designeo may purchase the property at any saie.
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<br /> Upon receipt of ayment of tho price bid,Truatoe shell deliver to ihe purchaser Trustoe's deod conveying the property.The recitials contained in
<br /> rt Truatee's deed ehall be prime facle evidience oi the truth of the stetements contained therein.Trustee shall apply the proceeds of the sale in the �" _-
<br /> followinp ordor: (a) to aIl axpeneos of the sale, Includinp, but not limit4d to, reasonable Trustee's fees, reesonablo attorney's fees and � _ ---
<br /> reinstatement foes;(b)to all sums secured by this deod of trust,and (cl the balance,if any,to the persons legally entitled to receive it. �
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<br /> 19.Fonclosun.At Lender's option, thia deed of trust may be faeclosed in the manner provide by applicable law for foreclosure of mortgages ?
<br /> on real property.
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<br /> 14.Intp�cUon. Lendar may enter the property to inapect it if Lender gives Borrower notice beforehand. Tho notice must state the rensoneble .,��-�
<br /> cause for Lender's inspection. �4-��*==_
<br /> 16,Condemnation.Borrower asafgns to Lender the proc9ods of any award or claim for damages connocted with a condemnation or other teking � ��
<br /> of all or eny part of the property.Such proceeds will be epplied a9 provided in Covenant 1.This assignment is subject to the terms of any prior ° ''"
<br /> secuNty agreement. '�--
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<br /> ~ 7 8.Wdver. By oxercising any romedy available to Lender,Lende�does not give up any rights to later use any other remedy. By not exercising 4��;;�?°
<br /> �t any remedy upon Borrower's defeult.Londer does not wafve any iight to later consfder the event a defuult if it hepp9ns again.
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<br /> ' 17. Joint and Sevsrat Ltebilfty; Co-stgn�n; Succ�tson end Attipns Bound. All duties under this deed of trust are joint and severai. Any � �_.
<br /> Borrower who co-signs this deed of trust but does not co•sign the underlying debt instrumentfs) does so only to grant and convey that _ ;'�_„�.._
<br /> Borrower's interest in the property to the Trustee under the terma of this deed of trust. In nddition,auch u Borrowor agrees that the Lender and ''';"'�^�,:-.
<br /> anp othor Borrower under this deed ot trust may extend, modify or make any other changes in the terms ot this deed of trust or the socurod �s,";"" �
<br /> debt without that Borrower's consant and without releasing that Borrower trom the terms of this deed of trust. �••k-�••
<br /> The duties and benefits oi this deed of trust shall bind end bunofitthe succossors and assigns of Lender end Borrowor. - .
<br /> 18.Notics.Unloss otherwise required by law,any notice to Borrower shall bn given by dolivering it or by meiling It by certifled mail addressed to '
<br /> Borrower at the property eddress or eny othor address thot Borrower hes givon to Lender. Borrower wfll givo any notice to Lender by certified
<br /> meil to Londer's address on pngo 1 of this deed of trust,or to any other address which Lendor hes designated.Any other notice to Lender shnll - ,
<br /> be sent to l.onder's eddross as stated on pnge 1 of this deed of trust. „
<br /> Any noticu shall bo deomad to have boon givon to Dorrowor or Londer when given in the mannor stated above.
<br /> 79.Tranafer of the Property or e Benoflciel Intareat in ths Borrower. IF all or nny part of the proporty or uny intorest in it is sold or transierrad � , �
<br /> without Lender's prior writton consent, Lender may demand Immedietn payment ot the securod debt. Lendor mey also demand immediato
<br /> payment if the Borrower is not a natural person and a benofic�al interost m the Borrower is sold or transferred. However, Lender may not
<br /> � damand payment�n tho above situotions if it is prohibited by federel law es of the dato of this deed of trust.
<br /> 20. Rsconveyencs. Whan the obligatfon secured by this deod of trust has been paid, and Lender has no further obligation to make advancos
<br /> under the instrumonts�or agreemonts secured by this deod of trust, the Trustee shall, upan written request by the Londer, reconvey the trust
<br /> i proporty.The Londer shall deliver to the Borrower,or to Borrower's succassor in intorest,the trust dned and tho noto or othor nvidonco of thn
<br /> iobligation so satisfied.Borrower shall pay any racordation costs.
<br /> ; 21. Succeaeor truatee. Lender, at Lender's optfon, may remove Trusteo and appoint a successor trustoo by first, mailing a copy of the
<br /> � substitution of trustee as require{i py applicable law,nnd tlien, byilling tha substitution of trustee for record in tho office of the register of doods
<br /> � ot each county fn wt11Ch the trUet'p►Operty,or somo pnrt there0t,is situated. 1 he succeseor trustee,witnou[ conveyance oi tne praperty, snaii �
<br /> � succved to all the powor,dutios,authority and titlo of tho Trustao narnod in tho doad of trust und of any succossor trusteo.
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<br /> Ipoga 2 0l 21 I
<br /> UANKERS SY57EM5.�NC.Si CLOUD.MN 5G301 11 800 39 7 TJ<71 FONM OCo Mlf NE 6�19r91
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