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<br /> '.-`._:__:= t,paymm�e. Bortower agress to make all payments on tho secured debt wRen dua. Untess Bonower an nder agree oAierwtse, arry - :;,E.r� �'_t.�_``
<br /> paymarns Lender retotves irom Borrower or Tor Borrower's benefit�h11 be appiied first w any amounts Borrcwer owea on the seeured dobt ��' �.� •
<br /> .;. , " ` r`. exclusive of inTetest Ot ptitidpel,second to interest,and then to principai.if partiaf prepaymem of the seaaed debt ocwra tor any reaeon,it wil! , � �
<br /> not teduee or�cuse arry schsduted paymem until tho secured de6t is paid in fuU. . �
<br /> � f~ 2.CtaInfs agCinat Titl�.Borrawa�Wiltpay etl taxes,asse6smer�,and other charges�ttributabte to the property when due and will defend titte �` ° .
<br /> � to tha prope�a�a�ry d8im�wRich w4uld(mp�r Th9 nen ot this dead of Vust.tenQer may require Bortower to assign any rights,daims ar .. .
<br /> defert.es wAf ortpwar may hava dgais�st psuUes who suppty Iabor or materfa►s to imprave ar mainta'�n the property. ,
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<br /> . ' 3.Ins+irenee. Bonower wfU ke the e�ense and tor Lender's beneftt.AII 6�� ' , , �
<br /> ' _ .. , � ep proDerty insured undei terms acceptabie to Lender at Bmrower's
<br /> inauranee poficies sha119nclude a standard mortgage dause In tawr of Lender.Lender w�U bs named as ioss payee or as the iru�ued on arry such � '� ,��.°�
<br /> ` `'` insurance poticy.Any insurance proeeeds may 6e appQed,vvitliin Lender's diseret[on,to efther the restoratlon or repais of the damaged propeny
<br /> " � , � ' or to tl�e seeuraA Qebt.I}LsnQer requUes mortgage�nsuranoe,Bortower e�ees to maintain such insurance tor as lonp as Lender requires.
<br /> ,� 4.Prapsrty.Borrower will keep the property in gaod condition and make a0 repairs reasona0ly necessery. � � � �
<br /> - -°��"- S.Eapsrue�.Bortower agrees W pay sU Lenders expense9,ineluding reasonabte attomeyc'fees,if Bortower breake any covenants!n this deed - �-= _-
<br /> � of vust or in any obhgation secured by this dead of trust.8arrower v+nii pay these amour�to Lender as provided in Covenant 9 of this deed of ' .
<br /> • � • ... Vust.
<br /> ' � 8.Pr(or Scc�uity h�ttareata.Untess BoROwer first obtains Lendere written consent,Bortower wilt not make or permit any changes tn any priar • �''�� ��
<br /> �.' � �' security irnetests. Bottower wiil perform a11 of Borrowers abtigations under any pria mortgage, deed af trust or other security agreement, ��• .
<br /> . - - induding Borrower's eovet►ams m make paymeins when due. �� ,
<br /> � . � T.Aasignmeat of Ra�and Pirofsts.BoROwer essigns to Lender the rents and profm of the property.Untess Bortower and Lander hava agreed : �
<br /> ' • otherwise in writing,Bonower may colJect and retain the rertts as tong as Borrower ls not in detauit Ii Barmwer defauhs,Lender,Lender's �
<br /> �� � age�,at a oouR eppohtted receiver may take possession and martege the property and coltect tl�e re�ts.Arry recns Lender collects shall be � ;, -
<br /> apptied first to the costa of managirtg the praperty,(nduding wurt costs and aitomeys'tees,commissions to recstef agenta,and any other --
<br />� • _ necessary related expenses.The remafning amourt of rertts v+dll th9n apply to paymems on the secured debt as provided in Covertant 1. • '
<br /> 8.Leaseholds•Cnndomintums;Plannad Unft Oavefapmeirts:Bortower agrees to comply witf►the provisions ot arry iease if this deed of Lrust is on � � :�- ;u��>�---,
<br /> ' ,' a Ieasehold.lf this deed of ttust is on a unft in a condommium or a planned unit devetopmer�t,Borcower wtll perform aii of Bonower's duties _�-_:..�.�4r_�-
<br /> , �i.;,� under the covenants,by-laws,m regulations of the condominium or ptanned unit developme�rt.
<br /> `' .. . , y 9.AuUsarity of Lender to Per[artn tar Barmwer.If Bonower faiis mpartarm any of Borrowefa duties undei this daed of Uust,Lentler may . �. �
<br /> , L'b pedorm the deities or cause them w be parformed.Lender may sign Bortower's name or pay any amouM it necessary for pertortnance.If any .;�.;'..�:��.�,
<br /> � wnstruction oe the preperty ia discontinueA or not eartted on in a reasonaCte manner,Lender may do whatever is necessary to protect Lendets �;��
<br /> � , � seeurity trrterest in the proper4y.ThIs may indude comp(eting the consaucdon. � �
<br /> •` , - Lender'e fa3hua tu per(orm will not predude Lender from exercfsing arry af its other ri . . . _ :.,��—��
<br /> t ghts under the law ar this deea ot trust
<br /> . Any emounts paid by Lender to protect Lende�s security i�rterest w.�li 6e seciued by this deed af wst.Such amaunts will be due on demand '� �
<br /> � and will bear Interest iram the date of the paymeM u�il paid in tuU at the irtterest rate in effect on tl�e secured debL . � ����
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<br /> � 10. Detmdt and AeeeTeraHon. If Borrower faiis to make any payme�n when due or breaks any coveoartts under this deed of trust or srry , :.�
<br /> ' obGgaUon secured by this deed of trust or arry pdor mortgage or deed of trust, Lender may acce(erate tfie maturity of the secured debt and ,��,:�;���""•`��"',r�!
<br /> � demand immediate payment and may invake the power of sale and arry other remedies permitted by appfieabte taw. <• ' •i•"_��
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<br /> 1t.Re�est fo�NoUce a!Defatdt.It ia hereby requested that copies ot the noUces of defautt and sate 6e seM to each person who is a paRy , ��
<br /> ,: hereto,at the addresa of each such person,as set torth herein. ; ;u,��_';'p�,y�:r�
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<br /> � 12.Pawer ot Sete.H the Lender tmrokes the power of sate,the TPUStee shali ftrst recard tn the office of the register o!deeds of each county `-� ✓:"°� ;�
<br /> � . • wheretn the uu&t D�Oerty or some Dart or pazcet thereof is situated a natice af defauk coMetaing the lrttormatton required 6y taw.The 7rustee • ;a
<br /> � � sha0 etso mar copies of the noUce of detauk to the Bortower,to each person wfio is a party hereto,and to ather persons aspresaibed by '.r �' � •ir���—.—
<br /> ' _ : �,:;: appltcabfe law.Not less than one momA aftet the Tnistee records the notice of defautt or two months if the uust property is not in eny ' =-
<br /> • incorporeied city or Wllage and is used In farming operaUans carcied an by the uustor,the'Frustee shatl ghre pubiic nattce of eate to the persons �°=�•
<br /> and In the manner prescribsd by apppitca6le law.Trustee,without demand on Bonower,shail seil the property at pu6ilc auccion to the highest ':�'"�=
<br /> . 6ldder.if requtred by the farm Homestead ProfecUort Act,Trustee shall oNer the property ln two separate sales as requited by apptEcablo law. �., � , �•.._°:.af
<br /> � Trustee may postpone sate of all or any pareel of the property by public announcement at the time and place of any previously acheduted sale. ;:
<br /> lender or its designee may purchase the property at any sate. _`•i� _ `�k �:-_
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<br /> Upon receipt of pavmern of the prke biA,Trustee shall deiiver ta ths purchaser Trustee's deed conveying the property.The recitials conteined in ?; � �"'�"
<br /> � • {. Trustee's Qeed shall be prima facie evidlence of the uuth of the atatements contained theretn.Trustee ahall appry the proceeda of the sate in the '``� �'' �'• �
<br />- ' ' � tailowing crder. (a) to ail expenses of the sela, inciuding, but not itmfted to, reasonabia Trustee's tees, �easortabfe attomeys fees and . � � �'�
<br /> • . • , reinstatement faea;lb)to aU sums secured by this deed of uust,and(a)the baWnca,if any,to the persons fegally entFtled to recehre it. � -��'�^��'
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<br /> � ' 13.Foreclosure.At len�er's opUon,this deed of truat may be forectosed in the manner provlde by appllpbte taw tor foredosure ot mortgages • � ..;,,.�;.,.._
<br /> . . on reai property. , r�
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<br /> .. • t4.Inapeetlon.Lende�may enter the properry to inspact it N Lender gives Boaower noUce beforehand.The noUce muat stete the reasanabie -- -
<br /> � • � . cause for Lender's inspecUon. " '� �
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<br /> . . 16.Condomnatlon.Bonower assigna to Lender Me proceeQs of any award or claim for damag es connected wfth a condemnation or other taking
<br /> . • . of ali or any part of the proyerry.Such proeeeds wilt be appNed as provlded in Covonant 1.This assignment is sub]ect to the terms of any prlor •- ''�,
<br /> � securityagreemerrt. � r : •..��-;�:
<br /> � � ' 18.Waives.By exercising any remedy available to Lendar,Lender daes not give up any rlghta to later use any other remedy.By not exercising `� ,r�'�
<br /> any remedy upon Bortower's detauft,Lender does�ot walve any�ight to later consider the event a defauh if it happens again.
<br /> . . 17.Jotrn and Sovoral UabiUtll; Caolgnero; Sueeesaore and Asaigna Bourtd.AII duties unQer thia Qeed ot uust are joint anA several. Any . , �.-��^
<br /> . Borrower who co-signa this deed of trust Eut does not co-sign the underiying dobt instrument(s) does so oniy to grant and convey that � •�
<br /> � � . • Borrower's iMerest in the property to the Trustee under tha terms of thia deea oi trus�In addition,such a Bonower agrees that the Lender and � r �
<br />_ any other Borcower under thia deed of trust may eMend,moditv or make any other changea in the terms ot this deed oi trust ar the secured •
<br /> � � Qebt wlthout that BoROwer's consent and whhout reieasing that Borrower hom the terma of this deed of uust. . ,
<br /> ,. . ' The duties and beneflts ot thia deed of trust shall bind and benetit the successora and assigns of lander and Borrower.
<br /> , 18.Nodee.Unless othetwise required by taw,arty notice to Borrower shall be given by deliveting it or by mailing it 6y certifled mail addressed to , � �
<br /> Bonower at the property addroso or any other adCresa that Bonower has given to lende�.Bonower vuill give any noYice to Lender by certitied • •
<br /> . t . mail to Lendar's address on paga 1 of this daed of trust,or to arry other addresa which Lender has designated.Any other notice to Lender shatl , � �
<br /> • be sent to Lender's addresa as atated on page 1 of thia deed of Vust. •
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<br /> • � Any noUc�shatl be deemed to have been given to Borrower or lertder when given in tAe manner atated above.
<br /> • � ' 19.Transter of tho Praperty ar o Benefleisl trrteras!in the Bortowm.If ail or any part of the propeRV ot any interest in it is sold or transterre0 �
<br /> • ! . , wilho�ct Lender's prlor artitteo consent, Lender may demand immediata paymaM of the secured debt. Lender may also demand immediate
<br /> , payment if the Borrower ia not a natural person and a beneticial intereat in the Bor�ower is sold ar transferred. However, Lender may not �
<br /> demend payment in the above eituations if it is prohibited by federal law as of the date of this deed o}ttust. � '
<br /> ? 20.Reconwyanes.When the obiigation secured by this deed o}trust has been paid and Lender has no further obllgation to mako advances �. � '
<br /> . � � under the instrumente or agreements secured by thla deed of trust,the Trustee ahaif upon written request by the Lander,reconvey the truat '�- �
<br /> : � j proyerty.The Lender ahail deiiver to the Bonower,or to Borrower's auccessor in interest,the truat deed and the note or other evldence of the
<br /> j obligation so satisfied.Borrower sheti pay any recordation costa.
<br /> � 21. Suteoasor Truatoe. Lender, at Lender's o�tion, may remove Truatee and appoint a successor trustee by first, mai►ing a copy of the �-
<br /> . ` su6stitution of trustee as required by applicabie aw,and then,by fiting tho substitutlon of ttustee tor recoid in the otflce o}the registee of deeds - :
<br /> of each county ln whiCh the Vust property,or some part thereof,is situated.The successor trustee,without conveyance of the propetty,shalt
<br /> �• � • '� succeed to all the power,duties,authority and title of the Trustee named in the deed of trust and of any successor trastee. � •
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<br /> BMIKEAS SVSTEMS,INC.,ST.CtOUD.MN 58301 11�806397•43At1 FORM OCP�MT6NE 8/19191 E� •� .
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