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<br /> I COVENANTS ���.�, /i�� l��
<br /> 1. Paym�ntt. 9orcnwm epraos to mnko oll paym�nt� on tho socurod dnbt whon duo. Unlass Borrawm nnd Lundii o�nn�� sn, nny I
<br /> paymonta Londor rocoivns from Borrowor or for Borrowor's bonofit will bo oppliod tirRt to any omounts �orrowor owns on thn socurod dobt I
<br /> exclueive af intorost or principel, sucond to mtaroct, and thon to pnncipnl.It partml propaymunt of thn securod dnbt occurs tnr any r��fson,it wdl � „
<br /> not reduca or oxcuso any achoduled paymont unid tho secured dnbt ia paid m full. � . _
<br /> 2.Ct�im�ApMn�t Tld�.Borrower will pay all tbxes, oseasementa, nnd athor charpus at!ributabla to tho propurty whon due end wfll dofond tnlo
<br /> to tho property apelnst eny CIaIMs whlcFl w0uld impair the lion of thie dead of truat.Londor may raquire 8orrowar to aesipn eny nqhts, clairne or
<br /> dofenaes which Hortower may have egafnst partins who supply labor or materiels to improve or memtain tho proporty.
<br /> 3. Intunnc�. Borrower wiU keep the property �nsured under terme eccepteblo to Lender et Borrower's oxponFO and for Lendor's henofit. All .. _
<br /> I insurence policies shall include a stendard mortgefle clauso in favor of Londor.Londer will bo namod as lase peyoo or es the insurod on eny such • ,-_
<br /> I or to the secured debt�If Lender peq lu r n mortpage inslurancnit Borro errag e�es�toimaintalntsuch insurancoTior as lonp as LonderA oquroe roporty j ,
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<br /> 4.Prop�rty.Borrower wfll kenp tho property in Qood condition and make eli repairs roasonebly nocossary. I . :•y
<br /> 6.Hxpenset. Borrower agrees to pey eil Lender'e oxpenaes, inciuding roasonable qttorneys'fees,if Borrower broaka any covenants in this dnod
<br /> of trust or in any obligation secured by thie deod of trust.Borrowor wili paY theee amounts ta Lender as provided in Covenant 9 oi this dead o1 _ y,�
<br /> trust. l �`�''�k`
<br /> 8. Prlor S�curity Int�r�st�. Unless Borrower firet obtains Londor's written consunt, Burrower will not make or permit any changes to any prior I
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<br /> security intereats. Barrower will perform ell of Borrowar's obligationa under any prior mortgago, dood of trust or other 5ecunty agreoment, � �-=_ ,,..,_:�___,_�_ _
<br /> including Borrower's covonants ta make payments when due.
<br /> 7.Atripnmsnt of R�nts end Proftts.Borrower assigns to Lender the rents end profits of tho proporty.Unless Borrower and Lender have agroed
<br /> otherwise In writing, Borrower may collect and ratain the rents ea iong as Barrower is not in default. If Borrower defaults, Londer, Lender's `•`
<br /> agent, or a court appointed receiver may take possession and manage the property and collect the renta.Any rents Lender collocts shall be
<br /> neceissaryrelat d expensesfThe•remalning amount o�f ents wRl thentapply to paymonrte on the secur d debt as provded in Covenan^tteny other �ry� ,
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<br /> 8.Lns�holdr Condominlumr Pl�nn�d Unit Dw�lopmmt�.Borrower agrees�o comply with the proviaiona of any lease if this deed of trust is on ,_�:_�:.
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<br /> n leasehold. I{this deed of trutit ia on a unit in a condominium or e planned unit development,Borrower will perform ell of Borrower'a duties C�t+�_, _°
<br /> under the covenants, bylews,or regulations of the condominfum or pianned unit development. ,� :=-
<br /> 8. Authorlty of L�ndsr to P�rform for Borrowu. If Borrower fails to perform any of Borrower's duties under this deed of trust, Lender may
<br /> pertorm the duties or cause them to be performod. Lentler may sign Borrowor's name or pay any amount if necessary for performance. It any _
<br /> constructfon on the property is discontinued or not aarried on in a reasonable manner,Lander may do whetever ie necessary to protect Lender's
<br /> security intereat in the property.This may Inciude completfng the construction. _
<br /> Lender'6 failure to perform will not preciude Lender from exercising any of its other rights under the law or ihis deed of trust. _
<br /> Any amounts paid by Lender to protect Lender'e security interest will be aecured by thls deed of trust. Such amounts wili be due on demand
<br /> � and wfll 6ear interest frnm the date of the payment untfl paid in full et the interest rate in effect on the secured debt.
<br /> 10. D�fouit �nd Aoasi�ration. If Burrower fails to make eny payment when due ar breaks any cavenants under this deed of trust nr any
<br /> obligation secured by this deed of trust or any prior mortgage or deed of trust, Lender may accelarate the maturity of the secured debt and
<br /> demend immediate poyment end may invoke the power of sale and any other remedlos permitted by applicable law.
<br /> 11. Requ�st for Notic�of D�fault.It is hereby raquested that copies of the notfces of detault and sale be sent to each person who ie a party
<br /> ~o^tC:C,3::S:C$�CStCES 4�8$rh g�rh�prgnn. AN Ant fOfth I10fB�I1. _ .
<br /> 12.Pow�r of Sai�. If the Londer invokea the power af sale, the Trustee shali first rocord in the office of ihe register of deeds of each county
<br /> sha/l aflcohmailucopi spof ihe notce ot defauet to therBorrower,et deach pees ndwho�isca pany hereto�a�nd to��other�per ons las p escrbedtby
<br /> applicable iaw. Not loss then one month aftor the Trustee records the notice of default, or two months if the trust property is not in any
<br /> incorporated city or village and is usod in ferming operations carried on by tfie trust�r,the Trustee ahall give public notice of saie to the porsons
<br /> and In tho manner preacribed by appplicable law. Trustee,without demend on Borrower,shall seil the property at public auction to the highest
<br /> bidder. If required by the Farm Homestead Protection Act.Trustee shall offer the property in two separate salos es required by applicable law. „_
<br /> Trustoe may postpone sale of ail or any parcel of the property by public annpuncement at the time end place of any previously scheduled aein.
<br /> Lendor or its deslgnee may purchase the property at any sale. �_��«
<br /> Upon rece�pt of payment of the price bid,Trustee ahell doliver to the purchasor Trustes's deed conveying the property.The recitiels contafned in }-
<br /> Trustee's deed shall be prima facie evidience of the truth of the statements contalned therefn,Trustee shall epply tho proceeds of the sale fn the �;"
<br /> following order: (a) to ail expenses of the sele, including, but not limited to, reasonable Trustee's fees, reasonablo ettorney's (oes and �
<br /> roinstatement fees;(b)to all eums socured by this deed of trust,end(cl the balance,if any,to the persons legally entitled to receive it. —
<br /> 13.Forselosur�.At l.onder's option,this deed of trust may be foreclosed In the mannnr provide by applitable law for foroclosure ot mortguges �'.~
<br /> - on real property.
<br /> 14.Insp�cUon. Lender may enter the property to inspact it if Londer gives Borrower notice beforehand.Tho notice must state the reasonable - ^
<br />� cause for Lender's inspection. �����
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<br /> 16.Condsmnation. Borrower assigns to Londer the procoeds of any oward or claim for dnmages connected with a condemnation or othnr takinfl �,-_
<br />: of all or nny part oi the property.Such procoods wdl bo appliad an provided in Covenant 1.This aesignment is subjoct to the terms of any prfor y� --�-
<br /> security agreemont. . '�
<br /> + 16.Walver. By exorcisinfl any remody available to Lendor, Londor does not give up nny rfflhts to later use any other remedy. By not exorcising �,
<br />_ " any remedy upon Borrower's default, Lender does not waivo any nght to later consider the event a default if it happens again. , �.. .,y_,
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<br /> 17. Joint end Ssv�rel Lleblliri; Co-sign�rs; Succs�aon end A�tigns Bound. AII duties undor �this deed of trust are joint ond several, Any - --�.,..a.
<br /> Borrower who co•sfgns this deed of trust but does not co•sign the underlying dobt instrumentls) does so only to grant and convey that ,
<br /> � Borrowor's intorect in the property to tho Trustee under tho torms of this deed of trust.In addition,auch a Borrower agrees that the Lender end �.����
<br /> any other Borrower under this deed of trust may extend, modify or make nny othor changos in the terms of this deed of trust or the secured . �
<br /> - debt without that Borrower's consent and without relaesing thot Borrower from the terms of this deed of trust. ro�„
<br /> The dutles and bonetits of this dood of trust shall 6ind and benefit tha succassors end assigns of Lender and Borrower.
<br /> 18,Notice.Unlass otherwieo required by law,uny notir.o to Borrower shall be givon by delivering it or by muiling it by certified mail addressed t� I
<br /> Borrowor nt the pro�erty address or any other address that Dorrowar has givon to Lendnr. Borrower wdl give any notico to Lender by cortifiod I
<br /> -- mnil to Lender's eddross on page 1 of this deod of trust,or to any othor address which Lender has deslgnatod.Any othor notico to Lender shall
<br /> - be sent to Lender's eddross as stated on pago 1 of this deed of trust. �
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<br /> Any notice shall be daomed to have boon given to Borrower or Lendar when given in the manner statod above.
<br /> 19.Trensfer of the Property or e Bsn�flclal Int�re�t In the Borrowsr.If oll or any part of the property or any intorest in it is sold or transferred
<br /> without Lander's prfor writton consent, Londor may domand Immodiuto paYment of tha secured dabt.Lender may also demand immedfate
<br /> peyment if the Borrower is not a natural person and a boneficial interost in the Borrower is sold or transferred. However, Londer may not
<br />— domnnd paymnnt in tho abovo srtuations if it is prohibited Uy fedoral Iaw es of the dato of this doed of trust.
<br />— 20. Reconveyance. Whnn tho ohligation socurod by this doed of trust has baen paid, and Lnndor hns no furthor obligation to mako advancos I
<br /> undor tho instrumonts or agrooments securod by this daed of trust, tho Trustoa shall, upon written roquest by the Lender, reconvey tho trust j
<br />_ proporty. The Lnnder shall dolivor to the Borrowor,or to 8orrower's succossor in interost. tlio trust doed end tho note or other ovidence of tho �
<br /> obligation so satisfied.Borrower ahall pay any rocordation costs. i
<br /> 21. Succeaeor Trustee. Londor, at Lendor's option, may romovo �rustoo uncf appomc a succossor �ruscao ay iirsi, mnii�ny n �vpy o7 ii�o i
<br /> = i substitutwn of trustao�roqulrod by applicablo law,and thon,by tilinp tho substituUon of trusteQ foi racord in the office of the regieter of deeds ;
<br /> of oach county in ivhic thn trust�Sroperty, or somn part thoroof,is situetnd.Tho succesFOr trustoo, without Convoyance of the proporty.shall
<br /> i succoed to n�l thu powor,dutiQS,authonty and t�tlo of thn Trustaa named in tho doad of trust and of any suc�ossor trustoo.
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<br />_� �ANKE(1S SYStFMS.INC.ST CLOW.MN 5G301 it BUO 797 27a11 FOFlM OCP MTG NF 6.19�91
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