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<br /> 1. payrtta�a. Bortowor agraes to make aU po7R�e�ts on the secured deDt when due. Untess Horcower and Lender agree otherwise, any - �;`� �'. :
<br /> ---� paymanis lender teCetves from Sotrowe►or Tar 8ottavre�'s 6sneCU xrill be appl�oA t+rst ta any amau�s Bottower owos on the secured debi _ • -.��_,;,.�__ .
<br /> - -'' euchisive of tmerest w princiPab sacond w InteresL and then to principat.If partial psepayment of the svcured debt oeara tor any�gason.it wifl C_._ ;�-_T �
<br /> � ` not reQuce or excuse anq sehe_ dut�paYme�t.uMjf_II�a.69eured dabt ia paid in tull. _��, �: ,�
<br /> � ��•` � y.q��y pga(� �p�AAurtlilAiR�a alt tex�8: ' mertts,and other chatges attributabie to thepr oparty wAen due and will doternd title �.:t', ��
<br /> to the prope r.ty aga B��I deims�dli�Culd'irApair e Iien of thia deed of trust.LenQer may require Bcrrower m aasign any rtghts.ctaima or _ . ,
<br /> � defer�ses whteh Bort gw�lfa�!e�,�D�Ep{1����+PDiy tahor or materiais m improve or maitrtatn Use Droperty .
<br /> � 3. Insurante.BotroiiveFwilC keep Tia property insured under tem�s seeeptabte w lender at Sortower's e�ense and fo►Lertdea's Eenefit.All „
<br /> insurence poGdes shafi include a sta�daid morts�age etause in fawr ot Lender.Lender will�e named es(oss payee cr es the insured on any sucA
<br /> ' or�to t�he e�curad deDt.�if Le�nd r�equires mor 9a8s��suren Bo owerra$reea Lo�maintain sueh ins�rur�na ce or as iong as LenQer r�eqwiea ro0�/ . , .. , .
<br /> - e- 4.P►nporiy-Bartower will keep the properry in good condition and make ail repaira reasonabty necessary. � � � � `
<br /> -�.4'�__.. - - - - .=. :�4. .. . `r,�.
<br /> _- - b.Eipensos.Borrower egreea to pay aii LenQer's expenses.MrdudE+►9 raasonaCls attoraeys'fees.i#Borrower breaks arry covenants in this daed ---��„ -. .
<br /> ofc trwt or in any obUgaUOn secured by this deed ot trust.Bartower wnll pay these emounts to Lendor as provided in Covenant 9 ot thls deed of , , , . —
<br /> , . • trust. : • . L
<br /> • " 6.p�±pr Stsqu(ty Urtereats.Unlesa Bormwer first oCtains Lender's written eonsent. Bartower witl not make or permh arry changes to arry Prior '; " , . -
<br /> � seauiry irrtetes�. Borrower will perform all of Borrower's obligatIona under any prior mortgage,deed of trust or other sewrity agreement, . -
<br /> .`� , - inet�ng Borrowers eovenants to make payments when dus. . .`,
<br /> �s• � `• �' ' 1� 7./��nmen!of Rarts end Proftts.Borrowar essigaa m Lender ths renta and pcof�of the property.Untass Bonower and Lertder have agreed �-��' ? . '.�
<br />-:;. . . � j :' o t herwise in v u r i t ing, B o rt o w e r m a y c o f l e c t a n d re t a i n t h e r e r n s a s l o n g a s B o rt o w e r�s not in defauk. if Borrowe�defaults,Lender, LeMer's a;R` �^-�
<br /> g t ageirt,or a eourt appoirrted reteiver may take possession and manage the Orope►ty and co�lect the rerrts.Any renta Lender co l lects s ha l l 6e ` ,°,;. .
<br /> ' apphed first to the eosts of managin the ptopercy. Induding caurt costs and attamsys'teas. commissians to rmnai agertts, and any othel '•£--•:.
<br /> . ' � necessary retated expenses.The re�ng amaurd of rerns wUl then appty to PaYments on tfie secured defst as provided in Cavenarn 1. ' 4''::".� ` .<s•'
<br /> • g.L�s�hy;�s:CondnmW�mss;pituu►cd Itntt DewloAmnrrts.Bartower agrees w eamptY with the pravisions oi eny lease if this Qeed ot trust Is on , `.�.=;'`�"
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<br /> ' u ae a;e��e�ins en�w+�aws�or ire9u�atio s of�ecocnQom�in'�ium oi plannedeun d vetopme�'Bortower will perform a11 of Borrowefs du�ies , , .
<br />'� g.qutiwrtty ot Lendcr tu Pertorm ta�Borrmerer.If Borrower faits to perform any of Botrower's duties unQer this deed of trust,LenQet may !�
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<br /> - per(ortn tha duties or ceuse them ta he perfotmad.Lender may sign Bortowefs name or pay any amourrt if necessarY for performance.if any = __
<br /> �' ' oonsttuction on tt�pro0eriy is discontinued ar not carried on in a�easortable manner.LenQer may do whataver is neeessarY to Pratect Lender's ��._'� ,
<br />�,t.`.� . , ggWfjh/(fiL@{8b[lil the property.TNis may include completi�g the construction. . • . ..
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<br /> "- • ° -�'• LenQer's fa�ue tn partorm wiH not prectude F.ender fram exerdsing anV ot ita other�igAts under the taw or tbis desd of trust =:-
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<br /> �� Any amourKs pald by Lender to protact Lenders security iMerest v+nll de secured by ihis deed ot trust. Such amounts wilt be due on demand - ' ,��
<br /> '4,� . �.�i' arid witl bear incetest irom the Aate of the payment uMil paid in fuil at the iMerest rate in eftect on the secured deb� -, �—
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<br /> '�� 10.Detauti m�d AccaleraBan.It Bor►awer faits to make any paymertt afien due or breaks a�y covenants under this deed o f trust or anY ,�•rr'f i..�,:;;;
<br /> obtigatton secured by this deed of trust or arry prior mortgage or deed of Uust.Lender may accelerate the maturity of the secured debt and �.� �:;:'`_��__
<br /> - demand immediate paymara and maV invoke the power of sale and any oiher remediea permitted by applicable taw. , •� •w.•;y,,��.
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<br /> � 71.Request inr No41ee of OetaWt.it ia hereby requested that eopies of the notices of defautt and sate be sent to each person who is a DazN • , ;;� _
<br /> -,.. ___ hereto,at the address of eacb such person,as set forth heteln. '..�;. . .�s,
<br /> • a ' 72.Power oi Sffie.If the Londer imrokea the pawer of saie,the 7rustee shall Brat reoord in the offiee of the register ut deeds of eacA courtty � , �'a��
<br /> wherain the trust property or some part or parcel thereof is situated e notice of dafauit containing the i�ormation required by Iaw.the Trus�tee '�"'^�' `
<br /> � sha11 atsa ma�1 copies of the noUce ot defauft to the Barrower,to each person who is a pazty hereto, and to ather persons as prescribed by � .!,=��'
<br /> appGcable law. Not fesa than one month aftei the Trustee recorda the noUce of detauK.or two montha if the IIust property is aot in any .�} —
<br /> � incorparated citV or viliage antl ia used in farming o�perationa eanied on by ffie trusmr,tfie Trustea ahall give puhtic nets.e of safe W the persons ; :
<br /> " and in the manner prescrihed by appplicabte law.Trustee,without demand on BoROwer,shall setl Uie property et pubfic auction to the hi est r:°�
<br /> 9h ;,��_.
<br /> 6idder. If requhed by the Farm Ftomestead Protection Act,Ttustes sha11 offer the praperty in two separate eates as required by apptica6te law.
<br /> • . Trustee may postpone sale of a0 ar arry p3rce!of the property by public announcemeM at the time and place of any previousiy schesiufed saie. ,,��:
<br /> �;4 ,, - �� � Lender or fts designee may Durchase the propeRy at any sate. - �. . - -
<br /> - ��- � °- - llpon rece t o t of paym ent of the prloe bid,Trustee shell de��var to the purehaser Trustee's deed eonveytng tha property.The recitiata contained in ; '� � _�:;�-�
<br /> - T r u s t e a's d e e d s h a l l b e p ri m a t a c i e e v i d i e n c e ot the truth of the statements containeA therein.Trustee shaii apyty the proceeQs of ffia saie in tde � ,
<br /> to�roW�ne oraer. (a1 to all enpenses o}ths sale, inctuding, but not limited to, reasonaDle Trustee's feea, reasona b te a ttomeyfs fees an d .
<br /> , reinstatement tees;(b)to all suma secured by this 6eed of trust,and fc►the balance,if aoy,to the persons Iepally entitted m receive it. -
<br /> • 13.Foredosuro.At Lender's opUon,thia deed of trust may be foreciased in the manner provlde by applicabte Iaw tor toreclosura of mortgages • � �
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<br /> on real ptoperty. . .. '�—
<br /> - ' 14.tnspection.Lender may enter the propercy to inspect it if Le�der gives Bortower notice beforehand.The notice must state ffie reasonabte r: ., .a v-
<br /> . ' . . cause tor Lenders inspecEion. � � �'�`
<br /> '��� 15.Condamnmlon.Borcowe�assigns to Lender the�raeeeda oi any awatd or ciaim fa damages connected with a condemnation or other taking . .,�.�
<br /> ' � ' of aR or any peR of the propeRy.Such proceeds wi 1�a applied as provided in Covenar►t 7.This assignment is subject ta tha terms ot any prlot � .
<br /> r`; .. . .' sec�ttY agteemeat. � _-_�
<br /> :• •- 18.IKeIves.By axercising any remedy avaitabte to Lender,lender does not give up any rights to lator use anY other remedy.By not exercising
<br /> ,: ; ' , . any remedy upon Bortower's defauit,lsnder does not watie any right to later consider the event a defauit if it happens again. ,
<br /> � � • 17.Jaint anA Sevaral LIeLiIIty: Co�stBnere; Sucwssso��d Assi�s Bound. Atl dupes under tnia deed of vust are joint and several. Any . • . -. =
<br /> •� Bortower who co-signa this aeed of truat but does not co-sign the unQeri�lr�g debt instrumentls) dces so only to grant and convey tfiai • ,
<br /> � Bonowera interest in the proparty to the Trustee unCer the terms o}this QeeQ of uust.In edditlon,such a Botrower agrees that tha Lender and . . . •�
<br /> � � � any other Bonower unQer th is de e d o f trust may x:en d,mo di�o r m a k e a n y o t h e r c h a n g e a i n t h e t e r m s o f t h i s d e e d o f tr u a t o r t h e s e c u r ed . .,
<br /> .. . debt without that Borrower's wnsent and witho�t re:aasing that oROwer tram the terma of this deed of trust. ' . , ,.
<br />`�•�'. " �� The Cuties and beneflte of this deed of trust ahall binQ z.0 benefit the successora anA assigns of Lender and Borcower. �
<br /> '_ . ,: , 18.Nadce.Uniess otherwlse raquired by law,eny notieo to Borrower shall be given by delivering k or by mailing it by certifled mail addressed to : � ' .
<br /> � Bonower at the property address or any other eddress that Borrower has given to Lender.Borrower w�ll give any notice to LenQer by certlfied „ . ,
<br /> ;�,�j• ' . F inail to LendePe address on page 1 of this deed of trust,or to any other aadresa which Lender has designated.Any other noUce to Lender shatt . • .
<br /> , be sent to Lender's address as steted on page 1 of this deed of mist. .
<br /> . Any notice sheil be deemod to have been given to Borrowar or Len6er vuF�en given in iho menner stated above. " .
<br /> � • � 19.T�anstar o1 tl�e Piro�c�ty or o Boneflcial Intarest in the Bonower.If ail or any pan of the propertv or any irtterest in it is sold or transterred , „
<br /> - without Lender's prtor wzitten consenL Lender may Ee:�and immediate payment o}the secured debt. lender may also demand immedlate •
<br /> , � demand paymenein the ebove situat ons f if ts p ohibiteA by fed ral law as o}the date�of this deed'o1 Vustnafer►ed.However, Lender may not ,
<br /> 20.Roeonvoyanee.When the obligaticn secured by this deed of uust has been paid,and Lender h2s no turther obUgation to make advances '
<br /> � undar the insUUmenie or agreements secured by this Geed of uuat,the Trustee shall,upon written�equest by the Lender,reconvey the trust � �
<br /> oAI gat on so satlsfled$Bo�rrower shalitpa yany ecorda6o»osts.e�•9 successor in interest,the truat deed and the note or other eviQenea of tho
<br /> , � 21.Sueeessor Trustea. Lender, et Lende�'s option,may remove Trustee and appoirtt a sueeossor vustee by first, mailing a copy o}the �
<br /> � • ' substitution o!trustee as required by applieable law,and thon,by tiling tho substitution oi truatee tor record in the office o}the regiater of deeds .
<br /> � ot each county in which the trust property,or some part thereof,is situat�..The suceessor trustee,without conveyance of the property,shail _
<br /> . . succeed to all the power,duties,authonty and tnie of the Truscee named in tho deed of trust end of a�y successor uustee. � : �
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<br /> •'�� ' - BANtERS SVSTEMS.INC.ST.CLOUD.MN 68301 11�806397�73471 iORM OCC�MTI}NE 6n9�91 � _ _ , ' �
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