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<br /> C ',� _�, covava�s � �
<br /> � , }:�"< �� .,,�ki � -
<br /> � `. � ` t,pnymsats.Bortowar agrees to make ap pellments on tho seared deht when Que. Unless BoROwer and iender agree otherwise, any
<br /> ��., ' paymerrte Lender�eceivas fram Borrower or Tor Barrower's benefit will be app�'ied ftrst to any amounta Bortower owes art the seaued de�t .s` -. .
<br /> --"` �- - - "f t ot�reduce o sxereu�se�s�ted paYme�i u��setured debt i.�s pa[d in t u�t Drepaymerrt ot the sewred debt oecura for arry reason.it wiil _. . - �
<br /> T��",. o ���,��, ssmertta.and otAer ehargea attributabte m the pwperty when Eue end will defend tiUa -.---=,. ..
<br />-. • ' � `'�� Z'��°A� • ui�.i � e lien af tNs daed of wst.Lender may requUe Bortawer to assign any rigMs.claims or µ .
<br /> . to the property a ��� � f labor or m8teriafs to improve or maintatn the propeRy. ° �Y
<br /> - � ' detenses whieh a ow r�may 0� �g�i�y.., suDC Y a•';
<br /> 0+���'� 3w� ' '
<br /> . `� 3.tnsurance.Bort ar�w1 ke�9psua.ar ��� ndet terms accaptabte to Lendar at Bonower's ezpense and for LenEer's 6ene�t.Atl . . ��,�t �
<br /> ' insuranee poGdes slialfTnc"t�de e stendard mortgage cteuse in fawr ot lender.Leader wi0 Ee named as loss payee m as the insured on arry sueh , .•,•c• r.,s F•'
<br /> ' � insuranee poticy.Any insuranee Rroeesds may 6e appiie0.v+rith3n LenQere Giseretlan,w eithsr tha restaretion or repair ot the darteaged property
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<br /> or to the see�ued debt If Lender�equUes martgage insurance.Bortower a�eas to mairrtain such insurance tor as lang as Lender re4uires•
<br />, � �, -. , '>�•i 4.propgrty.gpnpyyer w�ll keep the praperty In goad condition and make aU repaUs reasonabty necessary. _�.� r' .,.. � ,�"i� -
<br /> � -..•-��` 6,Eapenses.8arrower agrees to Day eU I.enders expenses,inctuding reasonabte attomeys'fees,if Bonowar breaks any covenants in this deed M� <•� .�` +
<br /> , ,- .-� ot trust or in any obfiga4lon secured by thls deed ot trust-Borrower will pay these amourtts to Lender as provided in Covenant 9 of this deed of . _;� . :
<br /> trust.
<br /> � ``� g,pdpt geeutity(�ereste.Untess 8ortower flrst o6lains LendePa wriiten consenL Botrnwer v+nU not make or permit any changes to acry pric► :t- �•
<br /> . ' Inctud'mg�BortpWBr's coewnants to ma�ce pa tymeme whenedue.biigatiorts under any prior martgags. deed ot trust or ottier security agreemertt. . -.
<br /> ,'� ..�a _
<br /> . 7.Assignma�rt af Rer�and Profit�.Bortower assigns to Lender th9 rert�and profits of the Pfa7e►h►.U�►ess B oROwer an d L en d er ha�a�a e�s :, s : -
<br /> ' otherw�se in writing,Borrower may eatlect and retain the rer�as tong as eortower is not m defautt.!i BoRawer dafaults.Lender, ,
<br /> a g en t,ar a couR a A poir�ted receiver may take Qossesston and manag9 the property end cotlect tfie reMs. AnY rents Lendar coliecta shaR be _
<br /> � appf'�ed first to the costa of managing t h e property.induding eouR�p��d attomays'feea,eommissions t o r e�t al a gerrts, and an y other
<br />- ` •• necessary related exper�ses.The remaining amourtt of rerta will then aymerrts on the secured debt as provided'm Covenant 1. ;;' �
<br /> 8,LeaseholQa•CondomUd�uns:Ptanned Qnit Oevetnpmertts.Barrower agrees tn comp1Y wfth the provisiona of any lease if thls desd ot Vust is on ° L �:�:_
<br />"s` under t�he covenarns.by aws�or regulatio�ot the�condortmin m or pipnned uNt deve►opmert nt.Bortowar will perfortn ail of Borrower's duties < . .._--._-.
<br /> ,,.=' g,p��ity a}�der to Per(orm tot Bortower ff Borrower taiia tope rfortn any of Bonowefs dutias under this dead of mist, lender mey ' f `:,.
<br /> � p e r f o rt n t h e d u t i s s a r c a u s a them w be pertormed.lender may stgn 6orrowe�a name arpa1l any amount tt necessary for perfurmance•If arry
<br /> ,'.: consbucdon on the prapcty is d+scorrtinued or not ce r r ie d on i n a reasona 6 le m a n n e r,t e n d e r m a y d o w h a t e v e r i s�e c e s s a r y t o p ro t e c t L e n d e r s .:�:.';":-;,��,`,;.
<br /> � i securitSr i[rterest in the�a�ertY.This may incluQe completfng the construadon. �.;,,`.'. "
<br /> ,<,,: '`<K..r�;:._—...
<br /> -"�� � Lertdsrs tailure to pertarm w➢G rtot prectude iender iram exercising any of Its other rights under the!aw or this deed ot trw�t. :'�_i�;?:�i:---
<br />;� ,::._,..,::<<� ' :'t-.j..s,,.
<br /> �:i:'.: .�,,! Any ameu�►ts paid by Lender to prosect Lenders security interest wUl he.sec�ued by this deed of uus4 Such amourrts w�tt 6e due on demand ,,;�,,.������"�
<br />;' •�_: � ... �� and vn11 pear interest t►om the date of�e Payment urml paid'm full at the�Me�est rate in eHect on tha secured debt. -;,. .- --
<br /> . 70. Oefautt and AccaleraUon.If Bortower faiis to make any payment when Que or breaks arry covenants under ihis deed of bust or any � .r �,�__
<br /> , ��'`' obtigation secured by this deeA of Uvst or any prior mortgage or deed of trust.Lender may accelera��bte av��of the secured debt and l• �.lr�`
<br /> r �• ' demand�mmsd'iate paymeM and may invoke the power of sate and any other reme�es parmitted by app =:__.
<br /> . �_ %;--
<br /> � � 11_Re�test to►Nottce o!Defautt.R is hereby requested tfiat copies of the noUces of default and sate be sent to each person v+rho is a party , _ _�._
<br />_ - �.� . � • he�eto,at the address of eacA suct�persoo,as set firt1�herain. '`. •�'- }'�:
<br /> ` ` 12. Power ot Se1e.If tfie Lender invokes the power of sate,the Trustee ehail firat record in the ofEice o!the regiater of deeds o!each courty ��
<br />,r,,'.,-. • ��* wherefn the trust Oroperiy or same part or parcel therent is aituated a noUee of defautt cor►tainin9e eto�anA to otheipet ons as p�rescrihed by r . —"=-
<br /> ..� , shail aiso mail coPies of the natice of defautt to the Borrower.to eseh Derson who 1s a pany h :i_.��-�.
<br /> � � = appticable Iaw.Not toss tfian one month after the Trustee recorQa the notiee o!defau(�, or two months N the uuat property is not in any ,�`,',. -
<br />_:��,. ,. � tncorporated eity or viI►age and is used in farming o 0etations cerried on by the trustar,the Trustee shall give pubtie notiee oE sate to the persons ; __
<br /> ! and In the manner prescri6ed bY appp i lca b te law.Tru s t ee,without demand an Borcower,shatl seU the property at public aucHon to the highest ; ;:�
<br /> � � 4ldder.lf requtred by the Farm Homestead Proiection Act,Trustee ahall offer the property in two separate sates as�aquired by aDDBcebte taw. . __
<br /> "� T r u s t ee ma y p o s t pone eate of atl or any parcel of the property by publie announcemeat at the time and ptaee ot eny previouaty seheQuted sale. ,, f �—
<br /> � • Lenaar or its Qestgnee may purchase the property et any eate. ' ��
<br /> "�;1.�a�
<br /> Upon receipt o!payment of tha pdce 6id,Tntstee ehatl deTive�to the purchaser Ttustee's deed wnvaylng the property.Yho recitials wntained in , — _ _
<br /> Trustee's deed sfiall be prima tacie evldiance of the mrtfi ot the statemeMS contained therein.Trustee sfiall appty the proceeda o!the sata in the =
<br />` '` �� t o l i o w in g order. la1 to a0 expenses ot the sale, ineTudin@, but not pm[ted to, reasonabte Trustee's feea, reasonabte attorneys fees and ",_
<br /> � - � reinstatament tees:(b)to all sums secured by thta dee d o f trust,an d le)t►ie ba la n ce,i f a n y,t a t h e p e r s o n s I e g a l i y e n t i U e d t o r e c e l v e fl. ,=—c
<br /> { • 13.Foreefosure.At Lersders opRlon,this deed of trust may be forectosed in the manner provide by appiicabla law for toreclosure of mortgages •i���
<br /> , , ' . , on real property. , .• .�
<br /> ''�� ..� 14.(nspeetlon.Lender may erKer the properly to inspect it if Lender gives Borrower notiee betorefiand.The noUce must state the reasona6le • -, '�F�=
<br /> '` � � cause Tor Lenders inspection. .'��°'".
<br /> � 16,Condemnatlon.Bonower assigns to Lender the proceeds of any award or daim for damages connetted wiU�a wndemnaUon or other taking •� .. , �_
<br /> ot atl or arry Dart of the ptoperty.Such proceeQs witl he applied as pravided in Covenant 1.This assignment is subject to the terms of arry prior • •_
<br /> ' securiN agreement. `�.4,�, '�`�
<br /> ;e�:�
<br /> � acgiy remedy upon BoROw9er sYdelaulsdl.ender does nat waive any right to lateg�considerihe eve t a defauk if ii happena agai�n.��By not exercising ' -_
<br /> " : 17,Joint and Several Liabilitir: Co-signere; Sacceasote end Asstgna Bourtd.All duties under this Eeed of tnist are joirt and severat.Any •
<br /> - Borrower who co-signs this QeeA of ttust but does not co-sign the undeAYing de6t inswmerttls) does so onty to grant and wnvey that • . � ,
<br /> ' Borrower's interest In the property to the Trustee under tha termf�s of thie deed of trust.!n eddition,such a Bortower agrees that t'�e Lender and -
<br />, , � , d bt�without th�awteBo rower siconsent and u�vrthouyt releasing thet Bonoweerfrom the tertns of this deed of�usL mis deed of trust or tha secuted ,.
<br /> � Tha duties and benefits of this deed of trust shall bind and benefit tfie successora and assigns ot Lender and Bonower. �� . �
<br /> ` ' � 19.NoSee.Untess otherv�ise required by taw,any notice to 8onowet shall be givan by delivering It or by,mailing it by certified mall addressed to ,
<br /> � Bortower at the ptopertY address or anV other address that Bonower has given to Lender.Borrower will give any notice to Lender by certifled ,
<br /> ``s'�, , mait to Lender's address on page 1 of this deed of Vust,or to any other addresa which Lender has designated.Any other notice to Lender shail „
<br /> . be sen!w Lender's address as atated on page 1 of this deed of truat. �
<br /> , Any notice shall 6e deemed to have been given to Bonnwer or Lender when given in the manner stated above. � - �
<br /> � 19.Tmnstar of the Property or a Beneflelat(Mereat In tha Bonower.If all or any part of the ptopertY or arry interest in it is sota or uansterred � '
<br /> • without Lender's prior written conseM, Lender may demant! immediate paymeni of the secured debt. Lender may also demand immedtate
<br /> ' - demandtpeymeM in the ebove situatlons If i�is p ot�ibiated by federal law a oiine ae e oiini`s aeed�f i;,a a"sre►�ea.However, Lendar may not , .
<br /> 20.Rocomroyane@.When the obligation secured by thia deed of trust has been paid and Lender has no further obligation to make advances ' �
<br /> under the insvuments or agreements secured by thla deed of trust,the Trustee shalf upon written request by the Lender,reconvey the trust • . .
<br /> • � . property.The Lendor shatS delive�to the Borrower,or to Borrower's successor in irKereat,the trust deed and the note or offier evidence of the • . �
<br /> ' obligation so satiafied.8orrower shail pay any recordation costa. .
<br /> 21. Suecossor Ttusfeo. Londer, et Lender's option, may temove Trusteo and eppoint e successor trustee by first, mailing a copy of tho
<br /> substitution o1 trustee as required by appiica�te law,and then,by filin$the substitution of trustee tor record in the ottice of the register of Qeeds
<br /> � succeed to all the powor tduNessauthortry and titte of t e Tru t e namedan the Qeed of trust and of any�successorVtrustee ot the property,shail
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<br /> i BANREi15 SVSTEMS.iNC.ST CLOVD.MN 56301 11�80a39��43411 PORM OCP•Mf4NE B/1991 � . � _
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