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<br />_ . � COVHVANTS �OV4��ta .;.' ' � :.
<br /> t-. _ � `:,4, f. Pa�mo�.Bortower agrees to make aD gaymer� oA the seared debt when due. Urttess Borto��Lender agree offiarnise. enY c.;;�° :.����� � :
<br /> � payma�ts Landsr reatves fram Bortowar or Tor 8ortoweYs 6enstit w7t 6e apA�ed fitst to any amounts Bortower owes on the seeured debt , �`��
<br /> . ex�dea oi ex�e any�s��ed,iil��PaYmenttw�iLl'�the se�a ae�i�speosid�o r�iiai prepaymeM of Uie sec�ued debt accurs for anY reason.it wip - .- . .,.'.
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<br /> -_ 2.��q��:g�Q���yy(p�gp�l-ta�tgg:assessmeata,and ather charges ettributabte to the Droperty when due and wll defend tit[e - -
<br /> ��'�, to the ptop e aq�,at mry cilahPis whith wotild�itnpa�t�s lien of this daed of vust Lender may require Barrowur ta ass�gn any dgMs,daims or :
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<br /> � • detenses wh�Bo ower may havd ogaU�st partla�who supp(y labor or materials to improve or me(rttain the property. < < .
<br /> � `: , ,� �',��` 3,Msurertev.Bo YvtO`Reep d►e..pro��e Sn_�uied�rnder terms aa:spta6te to Lender et Barcower's expense and fa Lender's bensfit.AU � .
<br /> insWanCe polieles s indude a smndaid�mortg-age l�ause in fawr af Lender.Lendar v�nlf be nemed as Ioss payee or as the insuted on any snch 'l 4
<br /> . . . �Y a to�tttas e�au�ed deb i If Lender re�h e s�ortygage hLS�wan Bor ower e�pto mai��suc3ihi���for as ang ast�nder equ es r�P� . � .
<br /> ' - • 4.Propacty.Bonower wHl keep the property in good tondiUon�d make all repairs teasonably aeeagsary. �.� ` _
<br /> � •�.=-=��,� 6.6pensos.Bortower agrees to pay a1!Lenders expenses,inctuding reascnable attomays'fees,ff 8orrower Dreaks any eovenar�ts in this deed �
<br /> . _ - of 4rust a►in eny obGgaBon secured�y thts deed ot trust.Borrower wiil pay these amoums to Lender as provided in Covena�9 of this deed of ,
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<br /> � 6.PRcr Sccurity U�mrests.Unless Bortower first obCains Lender's v�rtitcen eonsent,Bortower witl not make or permit arry changes to any pdor �"^ �.
<br /> security icrterests.Borrower wtti pertorm a11 of Borcower's obfigatior:s under any prior mortgaga,deed ot m�st or other security agreemenL � ``�, -.
<br /> . � . . inctudng Borrowe►'s covertams to make payments when dua _ ' y i�'
<br /> , . " i. � 7.A�ment of Re�end Profite.Bortower assigns to Lender the rerrta aed profits of the property.Unless Borrower and Lender have agreed . � `�.�� ,`
<br /> ottmrwise in writing, Borrower may coltect and retain the renYS as long as Borrower is not in Eefauit.If Bonower dafeutts, Lender,Lender's ..�, -
<br /> - � agerrt,or a eourt appoiMed recetver may take possession and manage the property and wllect tfie�eMS.AnI►rerKS Lender coilects shall be , _;
<br /> � � app6ed frrst to the costs of managing the propertyG induding caurt costs and attomeys'fees,wmmLssiore ta rer�l agerts,and any ofher -
<br /> . � ' -.t�:�y" necessary related expe�ses.The remainipg amaurtt of rerrta Nriil then apply to payme�ts on the seaued debt as provided in Covenant t. • ;.���
<br /> � ' �- 8.Leaseha[ds•Condomir+i�uns:Plmmed Unit Devetopme�s.8orroweragrees w compty with the provisions a!anyr lease fE lhis deed af vust is on �� v ^"� -.
<br /> �?'�y` a leasehold.ff this deed of i�ust is on a unit in a wndominium at a p�enned unli devetopmerr!.Bortower Hn71 perform all ot Bortowers dutles t ��""
<br /> � under the covenarts,Wdarvs.-or reguladons of the condomiaium or planned unit devetopment -- -
<br /> , � ` 9.Authadty of Lender to Pertortn tor BoTrw�er. If Borrower fafls to perform erry at 9anower's Qutiss under this deed of trust, leoAer may ,
<br /> � � - pertorm tha dutles or cause them to be perfamfed.Lender may sign Bartower's name or pay arry artwunt if necessary for pertartnance.ff arry
<br /> wnstructton on the property is discomicwed or not carried on In a reasanaLle manner,Lender may do whatever is necessary to protect Lende�s
<br /> � '' � security irtteresi in the property.This may include compteting the construction.
<br /> Lenders fa7ure to perform vr�!not predude Lender from exercising arry of im other rights under the taw or thts deed of trust. '-�..� =
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<br /> � -'t Any emoums patd by Lende►to protect Lenders securFty a�terest wili be secured by this dead of trusK.Such ama�mts vm'U be due on demand ' �, :�
<br /> . .. ':..-., anA will bear in[erest fram the date af the pa�crtart urtUl paid in fuii et ttre interest wte in effec!on the secured debt = --
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<br /> � 10.Oetatdt m�d Aceelsradon. (f Bonower fads to make any paymeirt when Quo ot breaks any covenants under this dead of trust or arry f�.�` ��:^
<br /> ' . obtigation secured by thta deed of trust or any prior mortgage or deed of trust,Lender may aeeeterate the maturity of the secured debt and � �,,—�.
<br /> Qemand immedate payment and may invoke the powe►of sate artd any other remedias permitted by appiicabte law. , ,u .r,.,..,
<br /> 11.Request inr Notice at Dela�dt ft is hereby requested that wpies of tfie notices of detault and sale be seM to each person who is a party ` ���..`.
<br /> • -•- • Mereto,at the addresa of each such persan,as set torth herein.
<br /> � 12.Powes a!Sate.It the Lender Invokes the power of sale,the Trustee shall first record in the office of the register of deeds of each caurtty r����
<br /> • wherein tfie trust property m some paR or parcet thereof Is situated a notice of defauh cantaining the iMormation required by law.The Trustee �--_-�^
<br /> �: shall atso ma�7 copies of the notiee of defauft to the Bortower,to eact�person who is a par4y hereto,artd m other persons as presen'bed by °—__
<br /> appiicable law.Not tess than ona moMh aftet the Tntstes records the noUce of defauit,or two morrths H tlre uusi propeRy rs not in a�ry __
<br /> � �,, •.:�:� inwrporated city or village and is used in tarming operetions cartied on by the uustor,the 7rustee shall give pu6lic notice of saie to ffie persona _ ---
<br /> �� and in the neanner presaihedb�appplicabie Iaw.Trustee,without demand on Bonower,sheii sell the properri st public auction to the highest �Y
<br /> < ' `i bidder.It requUed by the Farm Homestead ProtecHon Act,Trustee shaii affer the property in two separate safes as required 6y applicabtp law. --
<br /> , . Ttustee may postpone sals of ali ar any parcel of the property by publia announcement at the time and ptace of any prevtousty ssheQuled eafe. .. ,�,, , �,p�A:
<br /> • � Lender or its deaignee may purchase the property et arry sale. . `�'i�,�
<br /> ,, �" Upon recei�i cfpaym ent ot the prlc 'a T�sstee shall deliver to the purchasar Trustee's dea6 conveY��B the praperty.The reeitlals cortained in _ � '"-�
<br /> 7 � ?nutee's deef sha116e prima faci� _` the irv�nt the statemenfs confained thete(n.Trustee shal!appiy the proceeds of the saTe in the _�
<br /> , , fotlowfi g order: (a) to all e x per.... in �a hut not limited to, reasonable Trustee's fRes, reasonabie attomsy�s fees and ,,..,,�_
<br /> �,,:,`_- - ��-�� - , . retnstetemertt tees;lb1 to atl aums aecwed�, 'ee ut vust,en 0(c3 t he ba lance,i!any,to t ha persons tega riy en t i t te A to rec e tve i� �,
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<br /> ' � • 13.Foraciosure.At Lender's option,thia deed of truct may be foreclosed in the manner provide by applicable law for tareclosure of mortgages =
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<br /> . : ' on real propeRy. ". � �-��;;�...
<br /> - � � 14.Ins�ecHan.Lender may enter the proparty to tnspect it i!Lender gives Bortower notice betorehand. The noUce must state ths reasonable ' • _
<br /> • , cause for LendeYs inspecNon. . -
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<br /> � 16.CortQemnatlon.Boaower assigns to Lender tho roceeds of any award or daim for damages wnnected with a wndemnation or other taking ---
<br /> � of all or any part of the property.Such ptoceeda wiP be anplied as provided in Covenar►t f.This assignment(a aubject to the terms of any prior ' . _ --
<br /> ' . security agreement. � ' ���`
<br /> •� � ' 18.Walvar.By exercising any remeQy availaDle to Isnder,Lender does not give up any rlghts to tater use anY other remedy.By noi exeroising .c _�,:--=
<br /> � , � any remady upan BonowePs defauf4 Lender does not watve any rtgfit to later considar the event a detauk it ft happens again. - . .
<br /> . � . 17.Joirrt and Severai UabIDtv: Co-afgnera; Succeunsa end Asalgna BaunA. All duties under this deed of truat are joint and severat. Arry � � �`�=�•-
<br /> • �' � Bonower who co-signs thia deed of Vuat but does not co-sign the underlying debt Instrument(s) does eo onty to graM and wnvey that � -
<br /> , � Borrower's irrterest in the properry to the Trustea under the terms of this Oeea of uust.tn addition,such a Bonower agrees that the l.enQer and • . -
<br /> ' ::? any other Bartower under this deed of trust may extend,modi�or make any other changea in the terms of thia Qeed of trust or the secured , ''
<br /> � • debt without that Bonower's conssnt and without telsastn0 that onower irom Me terme ot this deed of trust. '
<br /> , - Tho Qutiea and beneflta of thia deed of uust shatl bind and benefit the successors and assigns ot Lender and Borrowet. ' , .
<br /> '1•� " • 18.Notiee.Untess otherwise reQuired Dy law,any natice to Borrower ahalt be given by delivering ft or by maiUng it by eertifted mail addressed to
<br /> Bonower at the property addtess or anV other address that Borrowet has given to Lender.Borrower will give any notice to Lender by cerUfled .:
<br /> . . mait to Lender's addreas on page 1 ot this deed ot trust,or to any other address whicfi LenQer has Qesignated.Any other noUee to Lender shatl �
<br /> �:.�� be sent to Lender's addresa as stated on page 1 of thls deed of trust.
<br /> ;. � '. Any notice ahatl be deemed to have been given to Borrower or Lender when given in the manner atated above. � . '...'' "
<br /> � � . 19.Transtor of the Proparty or a Boneflelal Intoroat in tho Borrower.If all or any part o!the proportv or any interest in it is sold or transfened � •
<br /> �: wiihout Lender's prlar written conseM, Lender may demand immediate payment of the secuted dabt. Lender may atso demand immediate � �
<br /> �{,` � ' demand piaym eneon theaebove situations�tf R/e proAibidted b fedetol law ae o!the CeSte of thls deed�of tiusian9fe►red. However, Lender may not . � :
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<br />,:•��?",• 20.Reeonveynnee.When tho obligation secured by thia deed of trust has been paid,a:d Lender has no further o�.ga:ion to make advaneea � �
<br /> " . � under the instruments or agreemenis secutad by this deed of Vust,the Trustee ahall,upon wtitten request by tho Lendar,recanvey the trust �
<br /> ' �� . � • property.The Lender ahatl deiiver to tho Bo��ower,or to Borrower's successor i�interest,the trust deed and the note or other eviCente of the .
<br /> . . obllgatlon so satlsflad.Bonower ehail pay any recordation casts. .
<br /> � • • 21.Succossar Trustaa. Lender, at Lender's option, maV remove Trustee and appoint a successot uustee by tlrst, mai8ng a eopy of the �
<br /> • • substilut�in of trustee as relulred by appticabte law,and then,by titing the substitutlon ot truateo tor record in the oN1ce of the register of deeds �
<br /> � • o!each countq in which the vust property, or some part the►eof,is situated.The successor trustee, without conveyance of the property,shatl
<br /> � � succeed to all the power,duties,authoNty and titte of the Trustee named in the deed of trust and ot any successor trustee. � . ,
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<br /> :` �� � BaNKEaS SrSTfMS.�NC..ST.CLOUO,MN 68307 It•800397•23N1 fORM OCP�Mt6NE 8i�997
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