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<br /> . : .; �,� 9�m �����s � � _
<br /> � '� 1, Payme�. Bonower agrees m make aB payments on the secured debt whew due. Uniess Borrower and Lender agree otherwise, anY : ' : ,
<br /> .. payments Lender rflceives trom Bonower or ior Bortowet'8 68nefit wi:l be applied fust to any amounts Borrower owes on the secured debt 4 �
<br /> �i� n�ot rea�c.re o ��cu�se any s�edufe�d papmeM� u�r+til�the sec��ured debt�p d in f�al prepayment of tfie secured debt occurs tor any reason.it wili `_,,. .
<br /> '•�. :. .
<br /> � • p,psfm�pgainst T(80.Bortower avitl pay a0 taxes,essessmenis,snd othsr charges ataibutabie to the property when due end wiil detend tiUe h ,
<br /> � - to the propercy a9ffinst any daims wNdf would impa'v ths 68n of this deed of uust.Le�der rteay recNQe BaTMawar to assiSn anY rtghts,ctaims or
<br /> � defanses whtch 6attower may have agais�st parties who suDDty labor or materials to improve or mairnain the property.
<br /> �. ' � 3.tnmuanee. Borrower will keep the propeRy insured under terms acceptabte to Lender at Bortower's e�ense and for Lender's 6enafrt.A1! • •
<br /> insurance poGetes shall inchide a standare mortga8e dause in fawr of Lender.Leader witl be named as toss payee Gr as the insured on any such
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<br /> � o�r to the securyed debt If LenQer�e4��m�9e i���n Bexra�wder agreas t�o meir��such insur ance for as ton�s Lender r quires roperty .
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<br /> � 4.Property.Borcower v+n71 keep the praperty in gaod condition and make ail repairs reasonabty necessarY•
<br /> � fi.6�ansea.Borrower agreea to paV alt Lender's expenses,inctuding reasonable ettomeys'tees,if Borrower Dreaks at►y covenants in this deed _ _ _. , :�;.
<br /> � -� of uust or io any obligatton secured by th9s Qeed of Vust.Bo►rower wi�i DeY t�sse amourts to Lendsr as Provided in CovenaM 9 of thLs deed of _ _ _ _
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<br /> ' � � 3 g,Prloi Seturtty irtm+asts.Uniesa Borrower first obCains Lender's writtsn consen4 Bortower wiit not meke or permit any changes to any prior
<br /> , ., U�ec�ud 9�B�artoy�irers���Wiren�ts��o m�a�ke�paqments whengdueQ6ftgations under any prior mortgage, deed of tnut or other security a�eemeM.
<br /> ' ' � ' � 7.Assi eM of Re�end Prctita Borrower assigas to Lender the reMS and proFiis of the pmperty.Unless Borcower and Lender have agreed =�. " �':�
<br /> � i oth e in writing,Borrower may coliect and retain the rerts as long as Borrower�s not in defauft.lf Bonower defauhs,Lender.Lender's �•,.`.,�{ . ,, � .
<br /> � "� + agem,or a ca�ut apDCiMed receiver may take posaession end manage the pwparty and collecc the reMS.Any rents Lendet wltects shalt be � :._ ,�; ,
<br /> i i epplied Hrst to tfie costs of managing the prope►tyr,inctudin�court costs and attomeys' taes, commissions to rental agems,and any other :��r���;
<br /> " necessary retated expenses.The�ematning amoum of rents�nn t then apply w paymerns on the secured deat as provided In Cavenart 1• .
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<br /> ;s 8,4easeholds-Condominiums:PlanneA Unit Devetopm�mts:Bonower agrees to compty with 1he pmvisions of any lease if tfils deed o!uust is on
<br /> a Ieasehofd.Ii this deed of vust is on a anit in a condortunium or a planned unit development.6ortower will perform sil of Bonower's duties ,..�
<br /> � under ffie covenartts,by-taws,or regulations of the condominium or ptanned unk devetopment. -�,� v
<br /> � g, quthority of Lender to Pertoem tor Bartowe►. If Borrower faiis to perfortn arry of Boaower's duttes under this deed of uust, Lender may ,
<br /> perform the duties or cause them to be performed.Lender may eign Bonowers name or pay any smouM H necessarY tor pertormanea.It any __ ,
<br /> � � construction on theproperty ia Qiscorttlnued or�ot carrFed on in a reasona6le manner.Lender may do whatever is necessarY to Protect Lenders � .��.•-x_�...
<br /> , securitY irrterest in the proDenli•m�may inGude comptsting the wnstruction. — •
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<br /> Lender's faiiure to pettorm v�nll not P��e Lendet from exercising any of its otfier tigMs under the Iaw or this deed of trust. • .[*'�
<br /> and wi116enar�irntet��fromdtl�e Gavte of�Padymentw�itil p id in�t�uli a�the intere�str��n effe�ct on tles cc�red debtourtts+nrill 6e Que on demand __._-_-
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<br /> . ��:•`� 10.Qefautt end Acceteration. Ii Borrower fails to make any paymeat when due or breaks any covenaMs under this deed ot Vust or any - : ,�°s
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<br /> abrgation secured by this deed ot trust ar any priar mortgage or deed of uust,Leader may acceterate ihe mawrity of tha secured debt and �4_
<br /> ' � damand immediate paymeM and may invoke the power of sale and any other remedies permitted by apD�f�eble Iaw. ?=;i s;,?.-
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<br /> ' ` � 11.Re�est to�Notice of Defauit It is hereby requested thet copies of the noUces of deisuft and eale 6e scnt w each persan who ls e patty ' � g �!_-
<br /> � � hereto,at the address of each such person,as set forth herein. .
<br /> '^ � afe.If the Lender inwkes the power of sate,the Trustee shall first rewrd in the office of the register of Qeeds of eaeh county � '�`�'
<br /> . . 12.Powee of S , ' -�c... ,�::
<br /> wherein the trust Droperty or soms part or parcel tAereof is situated a notice of Qefautt contai�ing the intormation required Dy law.The Tnutae
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<br /> � sNall atso mail copies of tt�e nodce of defautt to the Bortower,to each person who ts a party hereto,and to other persons as pT88CRb8A by 1��• ��° .�
<br /> _ `' apD���te law. Not less than one morM►after the Trustee records the notice of datauit or two months it the trust Droperty is not in arry �. ;
<br /> � a'. incorporated ctty or viilage and is used in farmfng a�peraUons cartied on by the trustor,the'Frustee shall giva pubfic notice of sata to ffie persons , .�, ,;
<br /> '�� and in the manner presctibed by�appptieabte law.Trustee,without demand on BoRawer,sfiall seli ths property at pubtic euction to the highest . �;��-:.$�
<br /> bidder.if required by the Farm Homestead Protection Act,Truatee shall oHer the propeRy in two separate saies as requ'�red by appiicable law. `���
<br /> � Trustee may postpone sale of atl or any parcei ot the property by public announcement at the Ume anA place ot any preWousty schaduled sate. �';���,.
<br /> �� `• Lender or its designee may D�►cfiase the property at a�y saie. �.,�,,
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<br /> tlDon receipt of paVment of ffie price bid,Trustee sheH deliver to tAe purchaser Tnistee's Qeed conveying the property.The cecitials contained in w�,��, '_
<br /> • Tr�stee's deed shali he prima facie avidience of the truth of the atatements co�tained therein.Trustee ahall app[y the proceeds of the sale in the �.
<br /> ' fatlowing ordec (a) to all expenses of the sate, inctuding, but not timited to, reasonable Trustee's fees, reasonabie attomey�s fees and : �• � `�;
<br /> � reu�statement fees;(6)to aH sums secured by this daed ot trust,and(c)the batance,if any,to the parsons Iegaity e�tttted to receive it. ., ....;,r-,,�_,
<br /> • 93.Poredosura At Lender's option,this deed of uust may 6e foreclosed in the manner provide by appticabte law fot foreclosure oi mortgages ..,,;��`_�
<br /> • on real property . ��';:��
<br /> 14.tns�ecNon.Lender may enter the property to inspect it if Lender givas Borrower notice beforehand.The noUce must state the reasanabta t',���
<br /> cause for Lender's inspection.
<br /> ',.. • 9b.ConQamnadon.Bonower assigns to Lander the�roceeds ot any award or claim tor damages connected with a condemnatlon or other taking • .� `�, ��;
<br /> ot ell o►any part of the property.Such proceeds wi 1 ba applie0 as provided in Covenac�t 1.Th1s assignment ia aubject to Me terms Of any prior : !,;'_��..
<br /> •,� ' . � .�' security agreement. ' " � ' ':'��
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<br /> . , an remedy upon Boaowera detautta lendor Qo s�not wa�e anye ight to latte�consider ihe evant e�default ft rt happe�s egainy By not exercising • : • . .�.
<br /> 17.JnL�t end Severol LiabWty; Co-slgnera; Sueeessare and Asatgns Bound. All duties ir.sJer thts deed of trust are Jolnt and several. Any . .
<br /> ' . ��, Borrower who casigns thts deed of trust but does not ca-sign the undartving debt insxument(s) Qoea so only to gr�srt and comey that •
<br /> Borrower's intetest in the property to the Trustee under the termtys of this deeQ of trust.In addition,such a Borrower agrees that the Lender and
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<br /> debt wtthout t�h�at Borrower's�consem and wrthout releasing t�hat eorrowe sf a-.Yi�the terma of�thts deed of uust}thia daed of trust or the s�ed
<br /> � � The dutlea a�d benefits of this deed of trust aha�l bind and benefrt the sueeessora and assigns of Lender end Borrower. ' � ' �
<br /> 18.NoUce.Unteas otherwlse reC��ired by law,any notice to Borrowor shatl be glvan by delivering ft or by mai8ag it by certlfied mail addressed to .
<br /> ' Borrower at the pro�erty address or any othe►address that Borrower has given to Lender.Borrowar will giva any notice to Lendet by certified
<br /> mail to Lender's aQdress on page 1 of this deed of ttust,or to any other aCC�eas which Lender has designated.Any other notice to Lender shall
<br /> � � be serrt to Lender's add�ess as stated on page t oi thia deed of trust. .
<br /> ��"+ • , ' Any notice shall bo deemed to have been g:va�to Bor►ower or Lendar when given in the manner stated above. • ,:••;�
<br /> ' • 19.Transfer of the Property os e 8onoflelN Intmost in ffie Bortowe�.I1 all or any part of the property or eny Mterest in it u sotd or uanaferred '
<br />° wfthout Lender's prlor writterr consent. Lender may demand immediate payment of the secured debf. Lender may a'so demand immediate • ; .
<br /> ' ' demand piaymorn in theeebove situatlons i}it is ptohibl�ted by fedetel law as of the daterot thes deed of trustanstened. Howe�er, Lender may not
<br /> 20.Reeonveyance.When the obligation secured by thia deed ot trust Ras been paid, and Lender has no further obligation to make aCvances � • .
<br /> � undei the lnsVuments or agreemo�ts secured by thla deed of Vust,the 7rustee shall,u0on written request by the Lender,teeonvey t?�e trust .
<br /> property.The Lender shall deliver to the Borrower,or to 8orrower's successor in interest,the trust deed and the note or other evider.ce ct the
<br /> obUgation so satisfied.Borrower shatl pay any recordation costs. •
<br /> 21. Successor Truateo. Lender. at Lender's option, may remove Trustee and appolnt a succossar trustee by flrst, maiting a copy of the �
<br /> � substitution of truateo as re uirod by applicabie law,and then,by tiling the suhsUtution of trustee for rocotd in the o}fice of the register o1 deeds .
<br /> • � 01 each county in which ih�trust proporty,or some part thereof,is srtuated.The successor trustee,wlthout conveyance of the property,shall •
<br /> succoaA to all the power,duties.authority and titlo of tho Trustee named in the deed of trust and ot any successor uustee. �
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<br /> - • � Ipage Y o121 .- .
<br /> � ' BANKERS SYSTEMS.INC.ST CLOU�.MN 5630/IL806347�93611�OfUA OCPMT6NE 8�19/9/ � , .
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