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<br /> agrees�v make all paymerna on the�ecaaed Qebt when due. UNess Borrowsr end Lender sgree atherwtse eny . . _ ;` .,
<br /> paymenTS Lender tece'sves fram Barrower cr for Borrower's henefit w81 bB BppGed first to any emaurrte 8artower oavee on dte secnred debt �_<, � +. ,._�:
<br /> r ,� � _. - exetusiva of tiuersst or PrindAal.sac�nd w h�terest.and then m prindpat.lt Dartta�PrepaYmeM ot t1�e seaaed Qeht odaus far eny reason,it wiil _;..�`. .,
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<br /> . trot reduoe or exwse arry scheduted paymeM wtt8 tfie seaned deM ts pai0 in tutl. f� .:` .<' �.�.
<br /> � • 2.Q�ma Agsinst TiBo,Borroyter wID paY 811 te�ce�g maYtta,and othar eharges attribvtabte w thB proPerty when due and witl defend tiite ` ,
<br /> to the prop a���etry de►ms whid�, u1Q lmpa'e�� lien ot this deed of trust Lender may repuire Bottower to assfgn aay rigfits,daims or �
<br /> , � defenses�Borrower msy have agaitt�pam�s virTfo�uPDty tabw ar materials to improve or maintain the properry. .
<br /> , ~. � • 2 3.(ns�u�ce.Borra�jer uvr11 lmap S�.p�p�rtq�ed�der tetms acceptable to Lender at Borrower's expense and far Lender's benefrt.Ail , ` � ' ` ,"
<br /> •- Insuranrs poBcies stiauindude astandaMmortgag�clae�e in favor oi Lender.Lender wi0 be named as toss payee ot a8 the insured on any sach � � . ��,` +��•'
<br /> inswance policy.Any tasurance proceeda may be appRed,within Lender's discretion,tn either the restoration or reaais of the demaged proparty _
<br /> � - ,< or to the seared daDt.If lende►roquires mortgage�urance.Borrower agreea to mai�tain such insurance for as ion@ as Lartder requires. .
<br /> _"�,� 4.Ptugerty.Borrower wiil lceep the praperty in good candition and make a11 repa'vs reasonably necessary. � � t �
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<br /> ._- --- - fi.Eapm�soa.Borrower agteea to pay eU Lenders expe�es,inciudir�g reasor�ble atinraeYs"fees,it 8onowet brQaScs amI eovenanLS ia this deed ��" ,- --
<br /> � , of Vust or in any obligation seaued by this desd of uust.Borrower�nn'll pay these amounts to Lende►as pmvided in Cove�ant 9 of U�is deed of -
<br /> - '` � trust -
<br /> ` - 8.adw Seauity tr�rests.UNess Bortower first obtatns Lenders written cor�sent,8orrower will not make or permii arry changes to any pHor �: � , ..
<br /> ' � ` sec�uity interests.Borrower wilt perform all of Bcrrower's obGgations wder any prtor mortgoge.Qeed of trust or othsr security a�eement, ��; �`• ;;`�
<br /> , . _, includmg Borrowefs eovenama to make paymerns wAan due. . .
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<br /> .; ,r _F; `. 7.Acsfgsarrent ot Rorts and Paofiffi.Borrower assigna to Lender the rertts end profAS of tf�e oroperty.Uniess Bonowet and Lender have agreed .
<br /> athatwrse In writinp,Borcowet may collact and retain the rents as long as Borrower is not in deta�dt.It Borrower dafauits,Lender,Lende�s _
<br /> � agent,ar a caurt appofrtmd receiver maY ta&a possessian and manage the property and coltect the rertm.Any rertts Lender mltects shall bs - � -
<br /> �� neDrce��ret�d�e�ttsesfThe remaining amouertt�of�s�'ll fl�ie a P�e�PaYmer�o thfees,��io�p v1�de�d ingCo�vsnaM t�other �.
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<br /> . �:' ' 8.Lu�,s.'�ds•Candomin�urtn:PJa�med Unh�evelopmm�Boaower agreea to comply wfth the provlsions of any feasa N ffiis deed of trust is on :'-'`'=` .
<br /> � � a leasetsotd.lf this deed of trust is on a unit in e conQommium or a pianned umt developmertt Borrower w11 perfarm atl o!Borrowers Quties . .4"�-=
<br /> � , � . . under thB eover►arrts,byrtaws,or�egutations ot the coadnm9n?um or ptanned unit deveJopmetrt.
<br /> ; �� 8.Authosiiy of Lendar to Perh�rm tai BmRawer.If Bo�wer faits tc erfocm any of BoROwefs dutles under thts deed of trust, Lender may ' .< -
<br /> pertartn t�duties ar cause tAem to be performed.Les�dar may sign�rtowers name orpay aay emouM if necessary tor performaneB.I}any
<br /> conshucoion on tneproperty is d'�scorttinued or not cartied an in e reasonabl0 manner,lender may do v�'hatever is necaseary to protect Lender's �-�-
<br /> ' security imterest in the property.This may ineiude camptating the constructlon. , ---
<br /> - �- •- Lender's teilure to peRerm will not prectude Lender bom sxerdsing arry of ite other rlgt�L�under the law ot this deed of trust. •- '�- -
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<br /> � - Any amou�tts paid by Lendet m protect Lende�'e sewrity Irtterest wi0 be secured by thia daed of trusK.Such amaurrts wiil be due on dem�d a;=
<br /> � . ,. an�i w01 besr Urterest trom the date ot the payment uetil pafd in fuil at ths interest rate in eftect on the secured Qebt .
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<br /> � 10. Oafmilt end Acce2eratlon.If BoROwer feits to make any payment when due or breaks sny covenanW under thts deed of trust or any ' �'"'!'-�
<br /> - obJigatios�seaued by this doed of trust or any prior mortgage or Qeed of trust,LenGer may aaceierata the maNrity of tt�e secured debt end � �':���:;,
<br /> _. . Qamand incnedfate pa{►meM and may tnwke the power ot sats and any other reme�es perm[tted bK aDAtieable law. ��_�:j.:�-.`�-y`.-v==
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<br /> ' ' 11.Re�cmat for Notice o4 Defauft.ft is hereby requested ttiat wpies o!the notices of Qefautt.and sate ba eeat to each person who is a party � :E'�`
<br /> hereto,et the address of each such person,as set forth herein.
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<br /> , � - � 12.Pner�r ot Sete.if the Lender invakes the power ot sate,the Trostee shall flrst record In the oH1ee of the register af dee0s of each county :,x,.=r
<br /> ', � ; wAerein tha truat property or some part m parcel thereaf is sftuated a notice of QeTautL containing ffie ir�tarmation requtred by law.Tha Tmstee .� 'y«°=�.°_
<br /> . ehali atso mail"coples of the notice o!defautt to the Barrawer,to each persan who is a party fierew,and to other persons as prescrihed by �'' ----
<br /> - . � � � ' ' eppiicabis law.Not tess than ane month atter the Trustee records the eottce ot detauh or two momhs N the trust proparty rs not in any
<br /> ' incorporated city or vi(tage and is used in farmfing o�perations carrisd on by the trustor,the frustee shal!give pubtic natice of sale to the parsans =
<br />_ • and in the manner prescribed by apppliea6te taw.Tnutee,without demand on Bortower,shall sell the ptopectv at pu611c sucUon to the highest ,, v;�.;
<br /> _ � � • � 61Qdst.if required by the Farm Homestead Protection Act,Trustee shail otter the pro�arty in two saparate sa�es as repuired by applicabte lew. ' - -_--°
<br />= • 7ntstee may post{wne sala at a0 0►any parcet ot tne propetryt by puElic announcemeM at the ttme and ptace of arry pravlausiy scheduled sate. • �.3a.
<br /> � • . : Lender or ite Qesignee may purchase the prope►ty et any sale. - �:w�"
<br /> �--•- --- -=--�:�_: '�r Upon receipt of payment ot tt+e prloe bld,Trustee sha0 detiver to the purchaser Trustee's deed conveying the property.TAe recitlals contained in ==�' � �� -
<br /> � Trustes's deed shaD be prlma facie evidiense of the vuth of the statements contained therein.TrusteB shail appty the proceeds of the sate in the '�,...: -cf�-
<br /> • foilowing order. la1 to all expenses o1 the eate, inctuding, but aot IlmRed to, re�sonable TmateO's feea, reasonable attomeys fees and � •°:-�-
<br /> . � ' retnstatement feas;(b)to all sums secured by thta deed of trust,and(c)the 6aiance,H any,to the persons tegaity entiilad to teceive it. ' ';��,.�i"'�-
<br /> ' �.� 13.fareeloaure.At Lendere option,chls deed of trust may 6e forectosed in the manner provide by appticable taw for toreclosure of martgagea � "��''•°�'r
<br /> Pf De�Y• K+':,�
<br /> - on reat o � g�,_
<br /> � 14.tnspeatlon.Lender may enter the property to inspect it if LenQer glves Bortower notice beforehand.The noUce must stete the�easonabte. '���"=
<br /> ' � � , cause for Lender's inspection. ,
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<br /> ' ' 16.CondamnaUan.Bortower assi na to Lender the proceeds of any award or ciaim for dama�gas connected witt►a condemnation or other taking � . _-_=
<br /> • � ot all or arry part of ffie property.�uch proceeds w111 be ayplied as provlQed in Covenant 1.This assignment ta subJect to the terms of any prtor •-•
<br /> _ . securhy agreement.
<br /> ''� 18.Waiver.By euereising any remedY avaitable to Lender,Lender does not give up any rights to tater use any other�emady.By cwt exercising -• ' :
<br /> .. any�emedy upon BonoweYs detautt,tsnc'er does not waive any Nght to later consider the even!a defauft if it happena again. �
<br /> . � � 17.Jolnt end Saveral UaEIl�: Co-signsrs; Succos�are and Asstgns Baund. AII Qutles under thia deed o!trust are Joint and sevaral.My .
<br /> ' . . Boaower who co-signs thia deed of Vust 6ut Qoes naT co-sign the undeAying Aebt insUUmentlsl does so only to grant and convey that � `
<br /> '� � • Bonower's interest in the property to the Truatee unC�the terms oi thia deed oT trust.tn addition,such a 8onower agrees ffiat the I.ender and � �
<br /> . any oMer Bonower under this deed of trust may ext^�-�2,rnodiiy or make eny other ahanges in the terma ot this C�d of Vust o►the sewred �
<br /> ' debt wHhout that Bortowor's consent and without refezs:ng that�oROwe�trom the terms ot this deed o}trust •. ' ..
<br /> � �'• The duties and beneflts of thia deed of vust ahatl bind and beneilt the sueeessara and assigns of Lender and Bonower. .
<br /> • : 18.Notleo.Untesa otfiarwlse repuired by law,any notice to Borrower shall be givon by detivering it or by mailing It by ceRitIeA mai!eddtessed to � • .
<br /> • Borrowar at the pro�erty address or any other aQdress that Borrower has given to Lender.Borrower wiil give any noUce to LenQer Oy certified ,
<br /> mail to LendePe addresa on page 1 of t1Us deed of tr�t,or to any other address whicb Lende►has Eesignated.Arry other noUce to Lender shall
<br /> . be seM to lendeYe aQdtesa as atated on page 1 of th:s Ceed of truat. ,` ," �
<br /> Any notice shafl be deemed to have been givan to Bortower or Londer when given in the manner atetad above.
<br /> � 19.Transfer of the Property or a Banef.c��t lrttarest in tho Borrower.if all or any part of the property ot any i�terest in i!ia sotd or transferred � ' �
<br /> • • , without Lender's prlor virtitten conaent, Lender may Qemand immediate payment of the secured debt. Lendar may also dema:+d immedlate • . ' �'
<br /> Dayment i4 the Borrower is not a natural person and a benaficlal interest in the Bovower is sotd or vansferre0. However, Lender may not
<br /> . . . demand paymont in tho above aituationa if it ia proAiLreO by tederal law as of the date of this deed of truat. '
<br /> �. 20.Reeonvoyanee.When the ohiigation secured by tMs deed of Uust has been paid and Lendet has no turthor o4!igation to make advancea �.
<br /> '_ under the instrumenta or agreemente secured by this deed o}Uust,tho Trustae shal�upan wrltten reQuest by the Londer,reconvey the trust .
<br /> . propercy.The Lender shall deiiver to the Borrower,or to Borrower's successor ln irrtereat,the uust doed and the note or other evldence of the ' �
<br /> •; obiigation so satisfled.Borrower shail pay any recordstion costs.
<br /> �" ' 21. Saccossar Trustee. Lender, at Lender's apUon, may remove Trustee and appoint a successor trusteo by tlrst,maiiing a copy ot the � . l
<br /> subsUtuttan of trustee as required by applica6►e law,and then,�tifing the subsNtutlon o}trustee for record in the oHlce of the register of deeds � �
<br /> � of each county in which tho trust propurty,ar somo part therao,is situated.Tha successor trustee,without conveyanco 0)the property,shall
<br /> • ' succesd to aii the powet,dutias,authority and title of the Trustee named in the deed of trust and of any successor vustee. - -
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<br />'.�;�` . ? (Oago?o!?l , .
<br /> ____ - . BANRERS SVSTEMS.iNC.5T CLOUD.MN 58301 11�800397-23011 FaRM OC��MTGNE 811991 -�� - , -
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