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<br /> �" 1, paym¢rtte. Bartower agreee to mako ad paymeMa on tAe secured deDt when du¢. t3ntess Borcowar and Lender egree otharwise, any ` :
<br /> exdugtve of Irrteceat at pr neipal.ee�nd 4o irtere�.d then princiDSl•�f pa►tis ptepeYmarrt of tha seuued debt ocars f r a�iry reeaon�'rt wi11 , `,_^ ' .�
<br /> . nat reduce or oueuse arty schaduted payment unU7 the sewred Aebt is paid tn full. 'e.�:..---'—: .
<br />� __. ' � .`° `. Z,(aajlftg A�jOIlf9L TICg.BOROW@f WI{FpBY 8u taA89.esse�smer�.and other eharges ataibutehte to the propatty when due and wiii delond t[t!s . . . . .._ .
<br />`,`'', � to tAa praDurcy a�ainst eny clatm8��►1Af0�impai[2h9 Gen ot this desd of trust.Lender may require Bortowar to essign any rights.daims or . . .
<br /> Qetenaes wh�ch�orrowet[nay have egaf�st RaR�88!���iPD�Y��or or meteriats to imymva ot mait�tain the property ,
<br /> • 3,��u�sa,gormwer�nn'II keep the property Ms�eb uhder te*m8 gcc@P�dte to tsnder at Bnncwera e:pense and for LendeYs hanefd.AU ' -
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<br /> ` insurance paGcies ehatt trrc[ude a standard mastga08 eSBUSa in fawr of lsndor.Lender w�li be named ee toss RaY�ar��e inwred on any eueh �
<br /> ���r�po6ey.qny insWance proeesds may Be apD►�ed.W�^�nder's disaeUon,.to eitteer ths restaratlon or repau of tAe damaged propeRY ,c, " �,
<br /> � � �. • or to the seaued debt.Ff Lender requires mortgafle msuranee.Borrawer agrees to marrrtain cuch insuranee for as tong as Lender requires. (` V�
<br /> . , � - q,pcoperty,Borrower will keep the propertY in gaod waditIon and maka ail repairs reasonably nesessary. _ - � • `
<br /> -- . ,. ,;,_,...�--,, I 6,6�p e n s e 9.Bortower a9reea to pay ail Lender'a expenses,induding reasonabte attomeys'fees,if Bortower hreaka any covenants�n this deed . `
<br /> � of trust o►m any obGgation sewred by this deed of uust•Bortawer�nn l l p a y t h s s e a m o unts so Lendar as provided in Covenant 9 af this deed of .
<br /> —_ ..—� Vust, - °
<br /> f 6.Pdor Seaurity►Meresp- UNess Bortower first obtains LenEer's written coasenL Battower will not make or permit arry changes to any pHar
<br /> , sepuity irrterests.Borcower wiil Dertorm a11 e�°Nhe^edue.61tg�ons under a�y p►�ar mortpage, deed of uust or othet seaurtty a8�eamerst. V ,
<br />-- . . . indudin9 Bortowet'8 covenanta to make Paym . ,.
<br /> .. ` , 7.q��rt o}Rm�ts em!Proftts.Bortower assigns m Len4er the rents and profits ot the P�oD�Y.U��Bortower and Lender Aav���s . -•••�..i' : •
<br /> � o t h e r w i s e i n w ri tin g,Borrower may collect and reteln ths rerAs as Iottg es Bnrtower ia not in defauiL(f Borrower Qefautts,Lander, � .
<br /> • � ` agerrt,or a co u r t e p p o m t e d r e e e i v a r m a y t a k ep��c/uding d��Boeoss and att�omayds't e e s�c o e m m t s s i c r u i o�r e�rn a l a g e�,�a n d�a n y o U�a r .',�
<br /> � applied ftrst to the costs of mana g ing t h s
<br /> necessarll re l a t e d e�e n s e s-T h 0 re m a i n i n g a m o u n t of rerrts w i il then epP�Y m�Ymer�on the seuued debt es Drovided i n C ove n e n t 1. �'
<br /> , . :• &{��ylds.Candomfrdumr pJannsd Urut Dovclapmetrto.Borrower agrees to com pty wRh the provisions ot any lease if this deed of trust is on a,'"-_
<br /> s � urt�der U i�9���en�a�rt s BbY a o w s�a r e 9 u n i a a ti'o n of�e cot�idomW m or ptaPn t ne euntt da eIop eMn� Barrower witt perform a[I of Borrowar's du4es : _
<br /> .. •. � `.< ';:�t�-�'.
<br /> _ . � g_p����nder to porform ta Borrawer.If Banower fals w gperform amr of Bortowe Ts d u t ies un de r t h i s deed of trust,Lender may ..-.--
<br /> ` . :. � peroerfns�tt�ucU n o�n d�e�pr P�Y�discorthn ed o►not carned on�a re�y�onrra6w manner,Lender may do whatev r ia e�sary Lo p�rotect Lender�'s .f � _ -
<br /> � � °`•� securitY interest in the DsaPerN•This�Y inetude completfi9 the construction. � r-
<br /> ` lendets faiiure to pertorm v�nli not preciude Lender irom euetdsing arry of its other rights unQer the law or this deed of trust. . 1� �ri
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<br /> � r" "" " � Any amawts Paid bti►Lende+t°pr°tect Le�de�s senuitY iMerest vidll be secured ti11 this deed of trust Such amounts wiil be due on dem�d '``_.::..:;.,-�•� r_
<br /> .•::�` and wi0 beat interest Trom the date of the paymeM uaL7 paid i�fu11 at the iMerest rata in eftact on the setxaed dabL _ '�.'�
<br /> �p,pefaidt and pcc�ere8on. if Bottower fals to make any paYmem when due ar hreaks a�l covenants under this deed of Vust or arry � .�`' < � ��:
<br /> obligation secured by this deed at mist o►any prior martgage or deed of trus4 Lende►meY a�terate the maturity of the secured debt and r�
<br /> demand immediam paymeirt and may invoke the power of sale and anY other remedies permitted by appiicabie Iaw. � � ;;r�:_
<br /> , , . 11.Re�est fot Notice af Oofault It Is hereby requested that copies of tAe noUces of defauit and sate be sertt to each person who is a parlY 1 • .`` `
<br /> _ .. , a�.�;
<br /> hereto,at tha eddress of each sueh person,as sat forth herein. ,
<br /> ,; � • 12.Power o?S�e•rl�i e e�some pan o p�r�.etythereot i�s situat d a notiee'ot d ault�corttain ng�the in ormaUon�required by taw.The Tr�ustee '����.
<br /> . � wherein the tru P P �V �.k-="
<br /> � „ .f shall atso maU coPles cf the notice of defauk to the Bor►ower,to each Derson who is a DaKY hereto,and to ather persona as prescd6ed by . .:Ll`�:.;� ,
<br /> a not in any
<br /> apDticabte law.Not less then one month aRer the Trustee records tha notice of dafault,or two months if the truat property i
<br /> inwrporeted city or viltaga and is usad in farming ope�ations carrled o�by the uustor,the Tnistee shall give puDlic noUce o!sale to the parsons ';:;��
<br /> e . .. bi�er tlfr 4 N80 by theiFatm Ftamestead�Piotectton AceC,Tr�ustee shatt oditer th�erty In�tvuo sepa ete sa�1�e es re�4�ired by app���cae6te t� �`.� , -
<br /> '� � ' T r u s t e e m 8 y p o s t p o n e s a t e o f a l l or en y parcel ot the property by public announcement at the time and piace of any previaustV SCheduled sate. .:,..��`;
<br /> ,�. � LenAer or ita designeo may purehase the D�opertV at any sal0. _�_:
<br /> � • � : .'� Upon rece(pt of pa�rmant of the prlee b10,Trustee ahail deliver to the purchaser Trustee's deed convey(ng the property.The recitiats corttefned In -
<br /> Trustee's deed shatl be prlma fade evidience of the uuth of t�e stetemeitts wrrtaineA there(n.Trustee ehall applY the preceeds of the saie in the `;:�m'_!;'
<br /> . . - -� ,� re nstetemeni fee;�(b)to�all ums secu ed by t�hts�deed ofimist an d Iet�t he ba ta n c e e f a�y t o t he p e r s n s l e�g�ati y eUded to recerve lt tees and �
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<br /> .. 13,Fore�osure.At Lender'e option,this dead of uust may be torectosed in tha manner provide by appUcabie law for foreciosure of mortgages 4; ;i.-
<br /> on teaf properiV• . � =_
<br /> 14,Ic�.sD eeUon.Lender may entar the property to inspect it if Lender gives Bortower notiee beforehand.Tha nodce muat state the reasonable .f., ,. .;=��
<br /> '. cause Tor Lender's inspecNon. �}i�..
<br /> • 1y,CoademnaUon.Bonower assigns to Lender the proceeds of any award or claim for damagea wnnected with a condemnatlon or other taiting , . ;��_
<br /> . ��' 'r of all or any part of the property Such pracaeds will ba applied as Drovided in Covenant 1.7his assignment ia aubiect to the terma of arry prior .`,�
<br /> ` security agreement.
<br /> '�'i�''�_
<br /> ' 18.Weiver.By exeraising any remedy available to Lender,Le�der does not give up any rights to tater use any other remedy.BV not exercising . -- -
<br /> � any remedY upon Borrowar's defauit,LenQer doea not waive an}r right w later consider the event a deteuk H it happena again.
<br /> ' � ' 77,Jntnt end Savera! LiabID�y Co-sl8�era% $�ccess�°�°°d Aasipna B°und.AII dutles under this deed of trust are joint and several. Any � � �
<br /> � � � Bonower who eo-signs tNs deed of trust but daes not co-sign thB underiying debt insWmentlsi doea so oniy to grant and convey that
<br /> Borrowera irrterest In the property to the Trustee under the terma of tfiis deed of uust.In addiUon,such a Borcowar agrees thet the Lender and . ,
<br /> � . • � � debt w'rthout that Borr were�conseM and withouYt releasing th�Borcowaer from ttiet erms ofethia deed of uust��S�eed of trust or the eaeurad . •
<br /> �� � ' The dutiea and beneflta of ihis deed of trust ahali bind and benefit the successora and essigna of Lendet end Bonower. ' . ' " �
<br /> ,. � ,� 18.Notice.Unless otherwise required by law,any notice to Bonower shall be given by deiivering it or by,malling it by certifled mal addressed to �
<br /> Bonower at the ptoperty address or any other address that Barrower has Alven to Lender.Borrower will give any notice to Lender by certified
<br /> . be sento Lendere's addres�as etated o ipage 1 of thia deed of trust�e�eQ�ess which Lender has designated.Any other notiee to LenQer ehall
<br /> � j ' . Any notice shall be deemed to have been given to 8orrower or Lendor when given in the manner statad above. . •
<br /> � 19.Transter of the Property or a Beneflela!Interest in tho Borrower.It all or a�y part of the propertV or any interest in it is sold or uansterred
<br /> � � � withaut Lender's prior written consent, Lender may demand immediate payment o! the secured debt. Lendei may a�so demand immediate
<br />, peymant if the Borrower is not a natural person and a beneticial inteteat �n the Bortower is soid or uansferted.However, Lendet may not • ....
<br /> " I demanA payment i�the above situations if it is prohitided by federel law as of the date of thia deed of truat.
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<br /> 20.Reeamrayonca.Whon the obtigation secured by this deed of trust has been paid ar.d Lendar has no further obligaUon to make edvances
<br /> � under the insvuments or agreements secured by this doed of uust,the Truatee shalt upon written roquest bY tfie LenEer,reconvey the Vust
<br /> - � proyerty.The Lendsr shall detiver to the Borrower,or to Borrower's successor in interest,the Vust deed and the note or other ovidance of the
<br /> � � , i obl�gaUon so eatisfled.Borcower shall pay any raeardation costs. �
<br /> •� 21. Succasaor Truatao. lendor, at lender's option, meY remove Trustee and aDPoint a auccoesor uustee by first, mailing a copy of the
<br /> � � substitut lon o f trus tee os r e q uir ed b y a p pticable law,and then,by filing tho substitution o1 uustee tor record ln the office of tho register o!deeds •. . ;
<br /> succe d to alliho power tduties authoet�y and tltte of the Trust e named In the deed of trust and of e y�successw Vu9tee o f t he prop e r t y, a h a l l �
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<br /> ' i rGage 2 012/ .
<br /> �'1�� � BANKEi15 SN5fEM9.MC,ST.GlOUD.MN 58301 Il-SOQ39743411 FOHM OCP�MiGNE 6/1991 � � - �
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