|
.
<br /> ...
<br /> - .��_. ._ . . . : . . ;..,. . :n�_ � � •�..:_�_.:
<br /> . - - - - -
<br /> - . �4. ,_.._��.,}'_'__ ='�s..__._._ . .. v _,-. ...-,_._._....,,�.._.._�.s..__.�...._._"...— .' __' _ a i�'"__-_ _.'-i F ` c�� i
<br /> . . . , . .. .��.1 ..�y.
<br /> . ., � .! co,►a�s 9�— �0��4 � • � :
<br /> �•` • � 7. Pay��. Borcower agrees to make ail paymenis on the secured debt when due. UntesB 8onower and Lender agree otherwise, arry '�•�,� : �: '.x .
<br /> . s �. paymert[a Lender recetves tmm Burrower ar for Borrower's benelrt will be appGed first to atry amour�ta Sortower owes on the sscvred d9bt .. .
<br /> , excJusive ot Intecest or prinapal,samM to ir�Lerest,and then to p�irtcipai.If partial ptepayment of the secured deLt occurs fer any reason,it will , � .`° ��a
<br /> -- ="— not rsdura ot extuso+uiY�diR¢d p�er�t tm�tlss seaasd dabt!9 peid ia lull. - - --"- ---_-
<br /> . .� ti �' � •
<br /> • 2.fxabns A�etnst Tftlo.Borro�prer wUt pay atl texes,essessmertts,and other cAargas attributabte to the property when due and will defend titte � � � '`` '
<br /> ` to ths property against ernt d8ims vyh(ch wouLd lmpair the IJen of tt�is deed ot trust.Lender may require Boaower to assign any rights,claims or _. - :
<br /> _ � detenses which 6orcower mayha�ra�gainst�pardea wtw aupply tabar ar materiaia to improve or maintatn the property. ,
<br /> �� z 3.4�suraneo. Borrower will keep the property inswed under terms acceptabte to Lender at Borrower's expense and far Lender's 6enefrt.All " ` ��� � '
<br /> ' insurance polit�es shnli inch�e a etandtud m�rtgage ctause in favar o!LenQer.lender wiU be named as toss payee or as the insured on any such ' . �
<br /> iresurance poticy.Qny fasivance proceeds may 6e appGed,witdin Lendar's Qiseretion,to either ths res0oration or repair o!the damaged property •
<br /> `. or to the secured debt It Lender requlres mortgage mswance,Bonowe�agrees to maintatn such fnsurance tor as long as Lender requires. , 'f
<br /> ' °�_ � � 4.Praperiy.Bonower�viit keep the property io good condition and make all repaira reasanabiy neoessary. • . '
<br /> • ,�l°"':�' 6.6cpm�soa.Banower agrees to pay atl Lendefs expenses,includ'ing reasonabte attomeys'fees,if Borrower breaks any covenants in thia deed _ - " `. `�
<br /> - .�-� � of Uust or in any obtigetion eecured by thfs deed ot uust Bonower vin'ii pay these amourKe to Lender as provided in Covenam 9 of this deed of - `
<br /> _ - —_, t�uSt. -.-- �ti`_c...,.
<br /> � ,` ` 8.Rlar Soeurlty krtamakr.Unless Bonowet first obtaina lsnders written consont, Borrawer wiU aot meke or permit any ehanges to any prior
<br /> • seauity intereste. Borrower will perEarm 89 of Bortower's obtigations under any prior martgage,daed of uust or other security agreemenL ,
<br /> , • . inctuding Borrowara covenants to make payments when due.
<br /> , . _ , }�, •.
<br /> 'k � 7.Asstgnmerft ot Rer�s end PratHs.Borrower assigrts w Lendsr the rents and protrts o!the properry.Untess Benower and Lender have agreed `
<br /> . otharwise tn writing,Boreower may collaet end retain the re�ts as long ea Boaower Is not In defauh.It Bortawer defaotts,Lender,Leader's �..� ' • , t
<br /> wr� .
<br /> . . agertt,or a court appoirt2ed reeeiver may take possession and manage the property and eoilect the tems.Any reats Lender colleas shal!be . `. •••
<br /> � apphed flrst w the costs of managing the property, induding caurt costs and attomeys'fees, commissions to rertta!age�tts, and arty other ° �" "
<br /> � ` ° necessary related expenses.The rema�ning amomtt of rents wiil then appry m paymerts ow ffie seccved debt as provided in Covenar�t 1. ; "��
<br /> " . . 8.teasafidds•CondcmTntuma:Ptmmed U�dt Devatopmmns.Borrower agrees to compty with the provisians of arry Iease If this deed of trust is on •� . �-
<br /> a�easehotd.!f this deed of trust is on a unit in a condomiNum or a planned unit devetopment, Boaower wili perform all of Borrowe�s duties � .�° :
<br /> under the covenaMs,by-laws,oi reguiations of the condominfum or planned unit devetopmsm. ti, •,��
<br /> " � . ' n 9.Autttattty at Lendsr to Ferform for Bartawea If Borrower tails to�perform arry af BotroweYs duties under this deed of uusL lender may __
<br /> • ` � perform the duties or cause them to ba pe.-fortned.Londer may sign Borrower's name ar pay any amoimt If necess�y tor performance.If any "
<br /> � construction on the property is disconUnueA or not carried on in a reasonabte manner,Lender may do whatever is nece.ssary to protect Lenders " . -
<br /> , .•. searity imerest in the property.This may ipdade eomptetirtg the consoruetion. � _
<br /> , `:t Lende�s faihue m perform wiil not prectude Lendar fvom exercising aay of ks other rights under the law or this deed of trust. 4�.--.--
<br /> . � - - Amr amoume paid by Lender to protect Lender's security inteteat wili be aecured by thts deed of trusK.Such amourrts will6e due an Qemand � �:i:. �.�° �'��°
<br /> ar�a wiil bear interest from the date of the payrtrent uMil paid in fufl at the fiterest rete in effect on the seeured debt. �,�,
<br /> � t0.DefaWt end Acceteration. if Bortower fails to make any payment when due or breaks any covenarrts under this deed of trost or any � -• � ' :
<br /> � . � obti gaUon secured b y this deed of trust or any pHar mort gage or deed oi vust,Lender m a y acceierate the matu r i t y of tne secured Qebt and r.'•�`•'=
<br /> ' , - deman d imms diata a eM an d ma mvo ke t he ower o f s a le and an o t her reme dies ermitted b a Iicable law. . `''- '
<br /> V Ym Y� P Y P Y DP ';,�t'�.-�:_�_
<br /> _ - -. ... .j`�. 77.Re�est for Notice oi Oetautt ft is heteby raquested that copies ot the notices of detauli and esie he sent m each parson who is a party ^='�'��.'
<br /> _ . . . � _ hereto,at the addrass of each such persan,as set forth herein. • r•.�:=�'
<br /> ' ' #�--��-,°.
<br /> ', 72.Power of Sate.If tho LenQer invokes the power of sate,the Trustee ahaH first�ecord in the offirs of the register of deeds of each wunty ;*,
<br /> ' wherein the trust property or some paR or parcel thereof is situated a�otice of dafauft coniaining ttie iniormatton requhad by law.The Trustee ` • ��* ,�
<br /> • • �,, shall also ma7 copies af the notice of detauh to the Borrower,to each persan who is a party hereto,and to other persons as prescribed by '�^`'
<br /> _• • , . appficabte taw.IVat iass than one morrth after the Trustee records the notice of default or two motnhs if tfie ttust property�s not in any •;,�, ;:.;"�''
<br /> inwrporated cityr or viilage and is used in fartning operations canled on by the vustor,the frustee shatl give pu6fic notice af sate to the persons �
<br /> ` • - and in the manner presttibed 6V apppiicable law.Trostee,without demand on Borrower,shall sell the praperty at puhifc suction to the highest •". • � �.�
<br /> bidder.I!required by the Fartn Homestead Protection Act,Tn�stee shaU offer the property in twa separate saJes as required by appticable law. '. . :.i.,�'ya!
<br /> ' �; , , Trustee may postpone sate of ait or any parcel of the property by public announcement at ihe time and place of any previousiy scheduled sate. •••. ` �.•..,,;� ;
<br /> • ., Lender or its desigoee may purchase the property at any saie. ,�,;.' . ' � _
<br /> . Upon receipt of paym ent of tAe price bid,Trustee sfiall deliverto the purchaser Trustee's deed comaylng the properry.'Fhe tecitiels coivaineQ in � �.+� �"'
<br /> '.�} Truatee's Qeed shall be prima tacie evidienee of the uutb of ffie statements comainad therein.Trustee shali apD�Y me proCeeds of the sa(e in the r '"��i
<br /> .._... _ :: tollowing orQer. (a) w at! expenses of the sate, inciuQing, Eui not 1lmfted to, reasonabte Trustee's fees, reasonabte attomey's laea and � � � •
<br /> • � �� reinstatement fees;(b)to alt sums secured by this deed of trust,and(c)the 6alance,H any,to the persons Iegally entitted to receive k. �".�'""�T-
<br /> , . .�_ s"
<br /> 13.Farectosura At Lender's opiion,this deed of trust may be foreclosed Irt�e mannet provide by appllcabte taw for foreciosure of mortgages T-R v�
<br /> � on real property. • . l�.��',`"�`.
<br /> ' ' , � ����_.
<br /> � � 18.fns�ectton.Lender may enter the property to inspect it if Lender gives Bonower notice beforehand.The notice must state the reasortabie � �t__-
<br /> . � cause for Lenders i�specHon.
<br /> � . :.`��.
<br /> . 16.Condemnatton.Borrower assigns to Lender theproceeds of any award or ciaim tor dama�ges connected witfi a condemnetion ot other taking �• • '"•�::
<br /> � of all or any part of the property.Such proceeds will be applied as provlded in Covertant t.This assignme�rt is subject to the terme of e►ry prior •
<br /> ..'�:_,_
<br /> . �� security agreement.
<br /> '�'� 18.Waiver.By exe►cising any remedy availa6le to Lender, Lender does not give up any rights to later use any oiher remedy.By not exetcising .
<br /> !�,"; ' . � a�y remeQy upo�f BonowePa defauit,Lender daes not waiva any rlght to later consider the event a detault ii it happens again. . . . -
<br /> ,. r �
<br /> • � t9.Johrt and Several UaLi6tv; Co-signera; Successora end Aasigns Bound. All duUes under thia deed of trust are)oint and several. Any •� �
<br /> � . Bonower who co-signs this deed ot trust but daes not co-stgn the underiving debt instrumentls) does so onty to grartt and convey that =.
<br /> Bortower's in2erest in the property to the Trustee under the terma oi this deed oftrust,in addiUon,such a Bonower agrees that the Lender and � •
<br /> • � any other Bonower unCe►this deed ot trust may extend,modifv or make any other changes in the terms of this deed of trust or the secured � � •
<br /> . debt without tfiat Barrowers consent and wlthout releasing that Eottower irom tfie terms of this deed of trust. � .' '
<br /> !� • . . . 7he duties and benetite of this deed of trust shall bind and banefit tho suecessora and assigns of LenGer and Bonower. • ,
<br /> .� • ' 18.IYoUee.Untess otherwlse requhed by law,any notice to Borrower shall be piven by Aeiivering it or by,maliing it by certlAed mail addressed to � . ' .. �
<br /> � Bonower at the property address or any other addrosa that Borrower has given to Lender.Bonower w�ll give any rro2ice to Lendet by certified . �
<br /> mail to Lender's addresa on page 1 of this deed ot trust,ar to any other address which Lender has designated.Any other notice to LenQer shaii
<br /> be sen!to Lender's addresa as stated on page 1 of this deed of trust. r
<br /> `�; � Any notiee ahall be deemed to have been ghren to Borrower or Lender when glven in the manner stated above. � � .
<br /> ` , , 19.Transter o!tho Property or a BeneBciet tMerest in tho Bortowo►.If all o�any part of the propeny or any interest in it Is sotd or vansfened � � '
<br /> without Lender's prtor wrltten consent, Lender may demand immediate payment o!the secured debt. Lender may also demand immediate
<br /> payment i!the Barrower is not a naturaf pe�son and a beneflcial interest in the Bortower la sold or transferred. However, Lender may not
<br /> • demend paV.�^em in the above situations i}it ia prohibited by federal taw as oi the date of this daed of trust. • .
<br /> , Z0.Rocomreyanoe.When the obilgatlon secured by this deed o1 trust has been paid and Lende�has no further obligation to make advances � -
<br /> , under the instrumerrte or agresments secured by this deed of trust,the Trustee ahalf upon written requast bV the Lender,reconvey the trust ' ' '�
<br /> property.The Lende�shail detiver to the Borrower,or to Borrowe►'s successor in interest,the uust deed and the noto or other ovldonoo of the
<br /> obhgation so satisfietl.Borrower shail pay any tecordation costa. . � �_
<br /> 21.Sueeasaor Ttustee. Lender, at Lender's option, may �emove Trusteo and appoint a successor Vustee by flrst, mailing a copy of the
<br /> substitution ot trustee as required by appflcable law,and then,b�r fiting the substitutian of trustee tor record ln the oNice of the register o}deeds •
<br /> • of vach county in which the Vust properry,or aome part thereof,is situated. The successor trustee,without conveyance of the property,shail � '
<br /> succeod to all the vower,duties,authority and titte of the Trustee named in the deed of trust and of any successor trustee. ' � �
<br /> .� , . . � � .
<br />' ' IPegD 2 o/TJ ' .
<br /> � - BANKEHS SYSTEMS.INC..ST.CLOUD.MN 68301 It�804397�13411�ORM OCO�MT6NE 8/1991
<br />. - . . _ -- - i � . �
<br /> . C
<br /> .. , f . .; . _ . .
<br /> _. . . ', ----- -
<br /> . ` . .
<br /> .
<br /> , � . . _
<br /> , . . .... . . ,.. _ . . .. �� . .
<br /> .
<br /> . .:. , .„ �
<br /> . .. .
<br />
|