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<br /> , , ' ,L . COd611AAiTS �. ��` ��OOa�� ' . `�.,�.
<br /> _I_ ' __!< p8�derReceiv98�hOm BnrtoV�uBt o� iOf�SO�tf W8T'6 ee+`$.ef�bs a�ppiel d(at So a�rty amowue Bnnower owes onethe sec�uried debi -- - �h ` ._
<br />- � -z�— exdusnte ot iitt8re�t or psine�al,aeoond to�est,a�d then to Pnndpal.(f paNa1 pseDalRnent of Me secured debt oaw►s tor any reason.it wi11
<br /> ` � not reduee or encuse anY sehaduted oaymaM untii tlt0 sacured debt�a paid in tall. • .. .
<br /> „ ` 2.��p�T�g-�� smerts.and mhar eharges atvibutabte to the propertlt wQen Oue and wiil detend titte
<br /> • ' to the prapertY a9ai�qy eT�n�+ lien of ttila dned of trust.Lender mav reQutre Borrower to assign any righta,ctaims or ,
<br /> detenses which Barr �qay have�g�(e p� ,( DDW�or ov mateHela ta improve or mairrtain the property. ,
<br /> � r.t -�.�'. �:�
<br /> i�a�.�+� er terms acceptabla to Lender at Borrower's expensa end for Lendar's 6enefit All �
<br /> � � 3.fnatuence. Bartov�ar �P1h�� tQ.--�----- �
<br /> . . _ insuranee polictes 6h�ade a stamarc mortaa8e dause in favor of Lender.lender witl ba named as tos9 payee or as the insurod on any suclti • _ '�.`'.
<br /> L , — o to�Me se�cared Qebti It I�.enQei r�eq�e�s mo8rt9aBe�nsu�ra��o oLVer e�ees tu main�ci such ns��c�e to►as bng as I.endere equues T��� _ ,
<br /> �` �. 4.Properiy.Bottower will keep the propecty in good conditIon and make ell repa'vs reasonebly necessarq• .
<br /> -�..,
<br /> .� ' --- 6.6�cnsog.8artower agrees to paY a�l lender's expenses.indnGmB soasonaDte attomeys'tees,if Bortower breaks any covenaMS ia ttils deed __T .
<br /> `• T; � ot trust or in any obfiga U on Beaued by Ws dee d o f t r u s t•8ortow e r v�ri�l p a Y t h e se amourns to Lender as Drovided in Covenant 8 0!this deed of
<br /> � � vusi. .. < � '
<br /> � 8.Rrtm SeeurFly Irtmsesls.Untess Borrower firat obtains Lender's wri'tten consert, Bortower will d�ed oef�tru.st or oth�se�cu�nN egreeme�. "� `, -
<br /> � - � seuuity irnereata Bonower wiil petform al! of.9orrower's o6ligatians under erty pdor mortgage. : �
<br /> �. . • .�:,j� including Borrower's cooena�s to maTce Daymerrts wt�en due. • ..
<br /> , . � otA�se in w o e�owe�r my�Il�acwt and re�in tl�e rerLa�a.ae tong aes�8or�owerLs�not in def�a�uftu.�it BorBr�ow�erwdef�audi�LendarvLsr�ers ' �' _—
<br /> . • • .'�� agern,ar a eourt appointed receivar may tatce possesston and managa the property and eoUset the rems•AnY rerrts Lender eoliects shatl bs
<br /> � �:.t appGed first m the coscs of managtn$the D�oDertY.inc[uding caurt co�ana atto�eo the�s�ewremd d bt as Prov�ded�inCoveaaert 1�V�er ,,
<br /> . necessary retated expenses.The rema�ninB amount of rents w111 tfie�apD Y P Ym +s��
<br /> d.,- � —
<br /> a�iea�sehnida t U�iis dee�d of�tr�ust�e u^K�a�^d�neum orea pianned unn�devetopmentp8o ower�will parfoim a1�1 o Bortowetr s�dag6� ��
<br /> ' ' � undar the covenants,b}rlaws,or regutations af the condominium or planned unft devetopmnnt• ` . _ _
<br /> . 9.��y�}�8�m pBrtOrt»fas 9mroa;ror.Ii Borrower feils m pertorm any of Barrtpowers duUes under thta EseA of trust, Lender may `:. , ,___
<br /> con�suuctlon on U�ie propefil isedimsc�anti'nu�ed�nut cartied on in aigeasonahte manner,l.enderym�do wt►atevar is ne��ssarvtor����end�s ``� ` �-
<br /> " • " securitY interest in 4hs propertY.This may in�de complet3ng the constructian. ,.`.��-
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<br />;:: .. . . �. Lenders taihue to pertorm vuiD nat predude lendes irom exerctsln9 enY of its othes rtphts under U�e Iaw or this deed ot wst F
<br />;,,..�;
<br /> . �r`� - Mv amaurrts Oaid by Lender to protea Lenders searfN�rtterest w�U be.secured 6y this deed of vust.SucA amouMs wiD be due on QemazM � �`- `
<br /> and wi11 bear irterest irom ths daie of the paYmeot urtbl paid in full at the�nterest rate in etfeat on the seaued Cebt. � , �
<br /> .. q-�y.�--_
<br /> � 10. Dafa�dt e.'rJ Aece�eredon.If Borrower faiis to make afir payment when Gue ar breaks any covenants under this deed of Vust or any • ,� .^�t a--r
<br /> obiigatlon seaaed by this Qeed of vust or arry D►ior mortgage or deed of tivst. Lender may accelerete the maturitY of tfie seaned debt and � �_
<br /> "' � " demand imme�paYment and may irnoks the power ot saie and enY other remedies permitted by applicabte law. � ..�, ;.�.�;-
<br /> '? • ' ��.Re����Np��o}peTmAt,lt is hereby requested that copiss of the notices of detauh and sate be sent to escA parson wfio is a partY � .' s-�;�
<br /> � � hereto,at the address of each such person,as set forth herein. , ��y'""_:„"�
<br /> ;� �rAE,.
<br /> � • t2.Power of Salo.If the Lender invokea the power ot sate,the Trustee ehall tirst recard in the affice of the registe�of daeda of eaeh wu�l y.� X�- �•,-
<br /> � wherein the vust praD��h►ot some part or parcel tAereof is situated a notice of detauh corttain[ng��o othee p�erson�.s as p��cri6ed by ' `=�"`=
<br />�S � ghaU aiso mail wpies of the nodrs of detauft to the Boaower,to each peraon who is a pa�tY he a not ia any �'� _— _
<br /> r . appiicabte law:Not less than one moMt►atter the Trwtee records tAe noUce of detauR,or two mortNs ff tfie uust P�oAertY i
<br /> • incorporatad ctty or h"Ilage and ia used in farming�operations carried on by the vustor,the Truatea shall g'rve puh�ic notice of sate to the persons ,,
<br /> i�._•� . end in the maMer prescribed by�apppfitabte law.Tnrstae,without demand on Bonower,ah80 sefl the property at pubiic auction to the highest �__
<br />_{;;. . , � �.: � btdder.If required by the Farm Ffomestead Ptoteetion Aet,Tnistee ubi a announee.ement a�t d�e Ume and ptaee of ar►$yrpeviousby sche�Q�uled se o. ,,,�
<br /> ,.;., Trustee may postpcne sate of ail or arry pareel of the Oroperty by p
<br /> . . ' � Lender or fcs des'�gnee may purcfiase the propeRy at snl/ea�e. }
<br /> ' � -���� '.��s Upon teceipt of paymeM of the price 6id.Tnutee shall deliver to the purchaser Trustee's deed convayin9 the propertY-The recitiala contained in �.
<br /> Trustee's deed shatl6e prima facie evidience of the truth ot the statements coMained therein.Trustae adall apDhl the Proceeds af the sale in the . �. -
<br /> toltowing order. (a1 to ail expenses of the saie, including, but not Gmited to, reasonabte Trustee's tees, reasona6le attome}/e tees and �
<br /> reinstetemerrt fees;ib)to all suma secured by this deed of uust,and(e)the 6alance,:f any,to the persons Iegalry entitted to recetve iL ��_
<br /> " 13,Dorectosure.At Lenders option,this deed of trust may be foreclosed in the manner pravMe by app�icabto Iaw for forocfcsuro of mortg�+ea� �� ' .
<br /> ` � on real property. ��. . -�
<br /> � `• 14.InsyeeNon.Lender may errter the property to inspect it tf Lender g►ves Borrowar noUee betorehand.The notice must state the reasonable _
<br /> ,�:::•�
<br /> � . cause for Lender's inspection. � � �
<br /> 16.CandemnaHon.Borrower essig�os to Lender the proceeds ot any awerd or claim for damagas connected with a coademnatlon or other takt� ., ;;�
<br /> � of ail or any part of the property.Such proceeds will be apD��ed as proviQed in Cavenart i.7Bis assignment is subject to the terms of any prior , _
<br /> securiN89►eement. ,. "�,`
<br /> - •����--
<br /> tg,Watver.By exerdsing any remedy evaltabte to Lert�er,Lender doee not give up any rights to�ater use any other remedy.By not exercising , ,
<br /> ' any remedy upon Bonower's 6eteuft,Lendet does not wave any right to leter consiQer the evertt a defautt if it happens agatn. .�•
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<br /> ` � 17. Joirtt end Several LiabSlity,� Co-slgners:Suecessors end Asstgna BounA. All dutiea unQer this dr_-d.of trust are joint and se�2.ai. Any ,
<br /> � �' Borrowet who co-signs this deeA of Vust but does not co-sign the undeAYing debt insuumecrtfs) �s so oniy to grant and come�y that
<br /> � ' Borrower's interest in the property to the Troatea under the terms of this deed oTtrus�in aQdition,sue�h a Borrower agrees that the Lender and .
<br /> , � eny other Bortower under this deed of trust may extend,modify or make any other changea in the terms of this Qeed of trust or the secured
<br /> 1:� . debt without that Bortower's wnse�t an0 wlthout reieas'.m�that Eo►rower from the terms of this deed of trust. �
<br /> �..; . .
<br /> ,., The dutles and benefrta of this deed ot Uust shall bind and benefrt the succeaso�s and assigns of Lender and Barrower. �..
<br /> 18.Notko.UMess otherwise required by iaw,any notice to Borrowet shall 6e given by de�ivering it or bd.rnaiting it by certiHed mail addreased to ','.,;�;,
<br /> � � Bonower at the property address or any other address that Borrower hes given to Len4et.Bonower w:ll give any notice to Lender by certitied .
<br /> � " be isent to LenQer'o aQQtess es st ted onipage 1 of this d ed o1 uusther address which Lender has designated.Any other notice to Lendet shall
<br /> , � • Any notice shall be deemed to have been given to Borrawer or Lender when given in tre r..anner stated aDove. •
<br /> 19.Tranater of tho 7�operty or o Benoflciel(nterost tn the Borrower.lt atl or any Dart o}tfie praperty or any interest in it is sold or transterre0 • .
<br /> without Lender's prlor written consent, Lender may demand immeC:ars paymem of the secured Ce�t. Lender may etso demand immediate •��? .
<br /> payment if the Botrowar is not e natutol person end a beneticial in:erest in the Borrower is sotd ar transterred. Howevei, Lender may no! 5:.� ,
<br /> . � demand paymant in the a6ove situations if it is prohibited by tederal law as o}the date ot this deed of.tsust.
<br /> � 20.Reeonveyance.When the obligaUon secured by this deed of trust has been paid and Lender has no turther cbligation to make advances .
<br /> unQer the insVumenta or apreementa securod by this deed of vust,the Trustee ahat�upoo written requast by th.e Lender,reconvay the trust ,
<br /> � property.The Lender shall deliver to the Borrower,o►to Borrower's suceessor in Interest,the t.ust deed and tt+o netn or othor evidonco of the .
<br /> � obligadon so satisf�ea.Bortower sfiatl pay any recotdation costa. ,
<br /> •• ' 27.Sueeosaor Trustee. Lendor, at Lender's option, may temove Trustee and appoint a suecessor truslee by first, mailing a.�er�of de ds � ' .
<br />-`j.., ' substitution ot trustoe as required by epp�icable taw,and then,by fitin�the substitutio�ot ttustee for recflrd in th�p ftico.pt h9 9g�
<br /> � •. succeed to all tho power tduUe95auptho�end Ut e o1 the Trust e namad in tho deed ot trust end of any�suc esso�tru�stee����property,shall .
<br /> rs•,�w j .
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<br />�� - 0AN[ERS S�STFMS.!HC.ST CLOUD.MN 56�01�1-80639J 73�b fORld OC�M7I1NE 6�1991 �� _ ___,,_. .
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