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<br /> 1. pgymmrta. Bortawer agrees to make att pa�oriow��soF�neft��inn�'11 be aDVI ed firsteto ny�amBou�Borrower owes o ethe se.��ed debt �• . � ,
<br /> ;, .�t _=t.T;. pa y m B M S L e n d e r r e c e;v e s f r o m B o r ro w e r b►f o 8 �,�f p�p�p e y m e n t o f t h s s e c u t e d d e b t a c w r s f ar an y reaso�,it w�l •�
<br /> - exc[us�ve af mLereat or principai.secaaQiD€�R8t8sL����a r:; �
<br /> - not�educe ar excuse any seheduted p8ymertE untit tha�Ged dsht is paid in tufL
<br /> ` �q�tms pgatnst Thig.Bottawer wU'paV 8II taxest����n�•and otRer eharges ettribuYabte to the prope►tY wAe�due and wi:l datend titie < `. F .
<br /> '`f to tl+e wperty ag amst any daims whicfi wo�u��e���deed of bvst.lender may raquire Bortower ta assign any�ghts.daims ot �
<br /> d etenses which Barowar may have againsc pa�tiea who suADty lahar or materiaL�to improve or mairttain+tfie propertY• , .
<br /> . Y g,fn�um�ep,Bortowor wili keep the property►�nsured under tarms aeceptabte to Lender at Barro w�'s e�e n s e a n d f o r L e�d a f s b e n e h t A� �f ;. .. _
<br /> � insurance PoUcies shallnsuruareice�ed�.s ma�e pvGed.w�n�e^ce a dis�etionr_to�enhe►the restorationaor iepair of Uua d�ame aSed p oPe�ll . ��,
<br /> ' ins�uante policy.My� x U . -
<br /> or to the seaaed d e L R.l f L e n dor r e q u i r e s m a r t Sa ge�r�s�uance.B°ROwer agrees to maurca�n sucl+insurance tor as long as�ender reqwres. c �°:�.�.
<br /> � - - -"~� q,poopeity.Barcower v�n11 keep the proyertY in 9ood condition and make all repairs reasonably necessaN• - �'. �
<br /> , . ...c."_"":i.—:�� • ;r... ,`-
<br /> " ' '� 5,Fspensea.Bortower agrees to Day aU Lender's expenses.inctudi�reasonabla attomeys'fees.'rf Bortower breaks any covenarts in this deed
<br /> - -= --- . o}�or in any obtigatiae+seaued bV this deed of uust Borrower�nn'U peY these amour�ts to Lender as provided in Covenant 9 of this deed of - : __ ,';_,��:�,-
<br /> r trusL �-.�ce, ;
<br /> . •� 6.Pr1or Seuuitlt��-Untess 6orrevl2s 5rst abtains Lendefs written consent,norton�e�e$en���°�ar o�er s�eeu ity�eement �°s '�.•� ._
<br /> a r.':�.�, seariry irtterests.BoROwet will perfcr:z a1t a�8ortowe�s obligatlons under any p'or -
<br /> . ta: S ^-iet11S When due. n,r rr, ,
<br /> �:� includmg Borrower's covena�ts to maf�P�r° ��goROwer and L.ender have agreed ..
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<br /> - �"• -:�'::1���'r�±' 7.AssTanmeat of Rerrts and ProSes.Borrvv+�assB��Lendet the rertts and profrts of the proPertY• .` ..
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<br /> • .•S n,•;:._..•�:,�<_,, otheruu�se in�nnitin8. Bortower may co��ect�+d retein the rertts as fong as Bortower�s aot in detault. If Borrower defaufts,Lender.Lenders
<br /> age�t,or a court appoirted receiver may ta Q poss��ud.�d 0���and attome�ct lete�commissionsnio re bl ageert�. end�Y atl�ee
<br /> - • �pPlied first to tha eosta of managina the pr PertY• g � ---
<br /> . � , necessary retated expsnses.The remaming amour►i of rents w+'ll Uien aPPN�PaymeRts on the secured debt as provided In Covenant 1. � .`.,� =
<br /> � 8.Laasehotcls•Condominttane:P�ann e d U n t t Devefopmst►te.Borrower agsaes to eom pty with ths provisions of any lease if this deed of vust is on ` ` _�'.,,.',.
<br /> - � a feasehold.If tNs deed of uust is on a unit in 8 condomrnium or a p tanoed unit development, Bortowar will pe►form e��of Bonower's duties t ' ` '! �:.:- _
<br />-- ' under ths covenaircs,ti1Ma���<te��OTM4 of�COndominium or ptanned unit Qevetopment. -�.- .� ;_.��;� _
<br /> � � g,Q�rihnrity of Lendar ta Petoen ta�Bmrawar.tf Bortower taita to p0eower s ryia�mfe or�pa�y any emaunt It necesSSerV fo Oer�for�manr.�eetf any , •-
<br /> peAortn the Qutiea or eause tt►em to be performed.Lende►may slgn 8
<br /> +�^ � conatruction on tha p►opertY Ia d1Th,s�y inctudo tomv eting the coastiucNonmanner.lender may Qo whatever is necessary to Protect Lender's , ..-
<br /> � satauity intorest in the property . � �
<br /> � Lenders failure io pertorm will not preclude LenQer trom exerclaing any of ita ott�er rlghte under tha law or thts Qeed of trust. •�.;.
<br /> -} . - end w D beaielntereat ho�m the date ot the pYment until paidin tull atj�the Interesret�ae tn�eHe�ct en tt�re s�ecured deLt��II bs due on Qsmand .^_ � =-_
<br /> ` 10.Dofmdt and AceoteraUon. �t Borrower faits to make any paymer►t when due or 6reeka any covenairts under thls deed of trust ot eny ( ;, ��'�s4�`_-
<br /> � ' ' obflgatlon eecured by this deed o}trust or any prior mortgage ar deed of trust.LenQer may accelerate the meturitY uf the seciued debt and ', ,. _
<br /> � demand immediate paymera and may invoke the power of sale and any otAer�emedies permitted by appticable taw. .�_��
<br /> �� '"f� ��,Req�eat to►(�tttlee of DatauN.h is herohy requested that coDles of the noUces of defauft and sale be seM to each person who is a patty :.��:.� � �-._�i
<br /> ' . hereto,at the address of each such person,as set fortt�hereln. "��.
<br />" ' t2.Po�uer of Sale.If the Lender inwkes the power ot sale,the Trustee shall first�ecard in the offlee ot the register of deeds of eact►eoutrty . � +�_....
<br /> �� � wherem the trust proDeRy or some aart or parcel thereof is situate0 a noUce of Qefauk contatning the intormaUon required by law.The Tnistee ;��N
<br /> � areto,and to other persons as prescribed by . ��.
<br /> � shall elso mail cop tes o t t he n o t t c e o f d e f a u t t t o t h e B orrower,to each person who is a party h s n o t ln an y • ___
<br /> �` ; aPP��bte Iaw.Not t�e ena�s us a i�+�ng oep era�e��ed on by�t!e Vusror�the Trustee ahatl give pub�c on��ce�af�e t o the Persons � _
<br /> • i n c a r p a r a t e d c i t y a r v i l l a g ���b te taw.Tiu s te e,w i t h o u t d e m a n d o n B o R a w e r,s fi a t t s e l l t h e p r o pe r t y at pubtic auction to the highest �
<br /> and in the manner prescriEed by aDDP � _� -
<br /> , Trdudstee may pios,dtAone sate of a�oor any parce�cf t►�8 p PBrtH 6y publio announ�cepment a�t the time a��id ptace o�i any prevlousty scfip d�uated sate.
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<br />-- - . : - - Lender or its des�gnee maY F�rchase the PruDetN ai any saie. _ ;,;;S�flL•
<br /> . . Upon receiot of payment of the prica biA,Trustee sha0 deliver to the purchaser Trustee's deed conveying the property.The recitiats corrtairted in ,. . :.:._�';;... �
<br /> :,, . '� Tniatee's deed shalt bs Drlma faeie evidience of the truth of the statements coMeined thereln.Ttustea shatl apply the proceeds of the eate In the : � r t�`
<br /> •. .i fo!lowing order: Ia) to a11 expenses of the sale, including, but not Bmited to, reasonable Trustee's tees, reasonshte ettomet/s fees and :� �_
<br /> reinstetemerR feas;(b)to all sums secured by thia deed of uust.and(c)the batance,it any,w tfia persons�egalty eoUtled to receive R. �g,�_
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<br /> � �9,FereGpswe.At Lenders cyuon,ths deed of Vust may be foreclosed in the manner provlCe by appfica b te law for foreciosure of mortgages , #,'
<br /> � r on real property. . •i.;,:'.; -
<br /> .t � � 14.��pn cdon.Lender may enter the pr�perty to inspea it ii Lender g[ves 6ortower noUce betor¢:rand.The notiae m�st sta�e the reasonabte ;.,;,��. ��r'
<br /> � � cause for Lendar's inspection. ����'''-
<br /> of ell ot a�part of dio 0 oD nYi Such proceeQs will�te applied esYprov�ded in Covenamei eThls assignm e�nt�su�]�c6 o the t iteims o t�an y�priot � ; �`- -
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<br /> <. . seeurity a�eemerst. �1 T -f
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<br /> � '� 18,WaivOr.By exercising any remedv avaifabte to Lender,Lender Qoea not give uD any righta to tatet use anY other remedy.BY rwt exarcising .�;; ..
<br /> ;•f any remedy upon Borrower's default.Lender daes not waive any r18ht to later consider the event a Qefault if it happens agatn. ,,;j.{,;,.•
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<br /> . . 17,Jolnt and 8everal U�6ID�Co-stanore►; Sueeassare and Aaslgns Bound.All C.mes under th�s dead of trust are jolnt and several. Any
<br /> ` Banower wtio co-signs this deed of trust but Qaes not casign the underhring Ce�t insmtmertt.$) Qoea so only to grant and convay that •
<br /> •`•.".�'' � � �,. BoaowePa irrterest in the property to the Trustee under the terma of thls deed oftrust.In addition,such a Borrower agrees that the LenQer and
<br /> 1 any Other 8onower undor this deed ot uust may extend,modNv or make any other ehanges in the terma of this deed of truat o►the secuted
<br /> � ° Oebt wlthout that Bonower's consertt zzd without reteasing that�onower itom the terms of thia deed of Vust. ,
<br /> �' • The Qutiea and benefits ot this deed ct uust ahall btnd and beneTit the surr..easors and asslgns ot Lende�an0 Borrawer. ,
<br /> ' '• � 78.Notlee.Unless otherwise required by law,any notice to Borrower shall be given by delivering it or by mailing it by certifled mait addressed to , :
<br /> Borrower at the propertY addres9 or any other adQress that Borrower has Blven to Lendor.Battower will give any notice to Lender by ceRlfied
<br /> ` ' mail to Lendefe address on page 1 of thts daed of uust,or to eny other addresa whlch LenQor has Qesignated.Any othor notice to Lender shall
<br /> '.�� be sent to lender's address as ateted on page 1 of this deed of truat. �. • '
<br />• ' Any notice shall be deemed to have bean glven to Borrowei or Lender when glven in the manner stated above.
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<br /> � 19.Transtar of tho PropeRy ot o Baneflelal lrrteroat in 1ho Bortowor.It att or any part of the propertv or any irrterest in it is sold or ttansforred .. �'
<br /> without Le�der's prlor written consont, Lender may demand Immediate payment of the secured debt. Lender may atso Qemand imme�ate
<br /> - demanA paymen8 n the a6ove situations�i iL is prohibted by teQeral law as of the da6te of this deed�of trost nsiened. However, LenQer may not .
<br /> Z0.Recanveyence.When the obligation socured by this daed of trust has been paid,and Lender has�o turther obBgation to make advances � �
<br /> : ' � pra perty.ThetL nCer shall detivei to the Boiowerthoi to Bo►ower's succeasor�in intareai tho tiust deed a dtKo note or other evidenee of the
<br /> . oblisation so eatisfied.Borrower ahall pay any recardation costs. .
<br /> Z1. Suceossor Truatao. Lendef, at Lender'e option, may removo Truatee end appoirtt a successor trustee by firsl, mailing a eopY ot the
<br /> substitutlon ot truate9 as required by applicable law,artd then,by fiting the substitution o1 trusteo for record in the oltice o}the register of doods
<br /> F � ' succe d to all the 0 wer tdutieegauthoritry end titte o1 t e Tru tee namod in the doed of trust and ot eny�sue ossor trustee.01 the property,sholl !
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<br /> - BANKERS SVSTEMS.INC-.ST.GLOUD.MN 58301 11�80639��73Ot1 FORM OCPMT6N8 6/1991 ._____ ___. _ .
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