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<br />-. . . + covauaars ��d+ �Q���i � , . , - --
<br /> � i. Paymsttb. 8orrowe� eg�ees to make ali payments on the seeured debt when due. Unlosn Bonowar and Lender agraa otharwiso, tsny , _
<br /> ' � paymenta Lender reeeivea from Bonower or for Borrower's 6enefit wiil be apDGed�rst to any emounts Bottowor owes ort tho seCUred debt � , �
<br /> 1 exclusive of mterest or prindpat,second to interest,and tisen to prinapai.!t partial preAaymsnt of the secured debt occurs for any reason,it wiil , . :��-
<br /> not reduce or excuse sny ad�aduiod pay�ent until the sceured dobt�s paid in full• .
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<br /> __. � 2.CfaUm�Apalnst Tftl�.Banower will pay all taues,a35essmente,and other charges attributabie to the property when dus and will Eetan�tftta , `
<br /> to tha Droperty agamst any etaims whict►woutd Imaai�the Iten of this deed ot uust.Ler►der may require Bottower to ar>cagn any rightri,claims or � ,�
<br />� . 1 defenses wl�ieh Bortowe�may hev9 agairtst Da�es Who suppty lebor or materials to improve o►meintaln the property. , `
<br /> .r. � 3. Insunnco. Bonower nill keep the propetty�nsured under terms acceptaDls to Lendar at Barcower's expen,e and for Lendar's bensfrt.All
<br /> � insurance policies shaii induda a standard cnOrtgage clause in favor of Lendar.LenCar will ba named as loss payaa or as the insured on any such • �
<br /> ,' � insurance policy.My insuranee proceeds may 6e apR[ied,within Lender's discretion,to eithst the restorntion or repair ot the damaged property , ,
<br /> 1 or to the se+cured debt.If Lender requires mortgage msurance,Borrower agrees to maintain sueh insurance for as long as Le�der requires.
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<br />-_ 4,pro�erty.Bortower wiil keep the property in good condition and make ati repairs reasonably necessary. -
<br /> b.E�ptnses.Borrower agrees to pay all Lende�s expenses,i�duding reasonable attorneys'fees,if 8arrower breaks any covenants in this deed ' • _
<br /> • of trust or in any oDtigation secured by this deed of trust.Borrower uvtli pay these amaunts to lender as Orovided in Covenant 9 ot this dead of ,
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<br /> uuat. '
<br /> g,p�ipr g�curtty Irterss�.Unlesa Borto4ver fust atrtains LendePs writtan consant,BoROwer wili not make or pertnft any chartges to any prior � ,
<br /> rss
<br /> securiry interesLS. Barrower will pertartn ail of BorrowePs obligations under any prior mortgage, deed of trwt or other security agreement, . . ... ' .,�,
<br /> ',: indudinp Boaower's wvenants to make payments when dua. ; • � � -_
<br /> 7.Aa�iynmsnt of Rmr�CS�:d Profrtst.Borrower assigns ta Ler.der tfie rents an�ptofts�f the property.Un!ess Bonower and tsndar hava agree0 � • ' '
<br /> `.'• ptherunse in vrtiting,Borrowar may cc'_';ct and retain the rents as toag as Barrou�r-�cs noi in dafault. If Bortower defauSts.Lender, Lenders ''"'s1r�`;'� �
<br /> 'w`S"..
<br /> � �� egent,or a court apDo��d reee(ver ca+�-V tnke posseasion and marr�the property and coltect Me re�ts.Any renu L en der co l lects s ha l l b e � y
<br /> epplied firsi to the costs of managEa�°Q property, inGuding coc:t xsts and attomays'fees, comm�ssions to rentat agenu, and any other °' -
<br /> ' necessary ralated expenses.The rema,r-�+^g amourt of renu wdl ther ap�ty to payments on the secured debt as provided in Covanant 7. ;°,��_
<br /> . g,L�aW}wt�s;Co�uSon9niuma;Pla�xHd Urtit Duvd�:6ortov�er agrees to compty wRh the pravisiona of ersy lease if this deed of trust is on � �`:�-
<br /> � a leasehold.If this deed of trust is on a unft in a a�rafrs�.�rvum or a pfanned unit develcpmar�t,Borrower wiH parfnrm ali of Bonower's duties • �,,�`:�:�L��.
<br /> under the covanants,by-Iaws,or regalatlons of tte��a:z�ium or planned unit davelopmenL , �•��;`,��;(-,7rx4:�-
<br /> )qi
<br /> ` 9. puU;aity ot Land�r w P�r[orm To►Borrow�r. If a'`-�. wer faiSs:a�erfortn any of Boaowe�s duties wdcr ttvs�d ef vu�`t, Lender may :.,�,;, : ;-,�=—
<br /> perform the duties or cause tAem to be performed.lender may sigi orrower's name or pay any�nacnt if rtr�,�!or�x�nance.If any �.>`��;i�,� ---�
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<br /> consUUCtion on the propsrty is discorttlnued or not carried on in a reasanab�e menner,Lender may do uvhatevE►�s n�:�s"�5r��*���ender's • �1; � � - ,�,�
<br /> � , securiry irttetest in the propercy.This may inGude wmpteting the constructlon. "'
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<br /> I Lenders faiture to pcfC�,w�+uvili not preclude Lender`r:r-exerctsing any of its athc-�-Mt�'r,s under the law or th?s dc-��`a'ust. - =-�o �ti."-
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<br /> • ' i Any amourtts paid foy�er�der to protec[Lendar's se:.r'ty incerest wiA be secureG LTMr��is deed of trus�t.Such amounts will 6e due on demr�d � - -�„` �•�': _::•
<br /> .. and will Cear imerest from the date oi the payment until paid in fi J!�t:�:e iMarest rate in e Ne c t an t he se c u r e d d e b t .__
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<br /> , _'f � 70. Cet�and Aceaisrstfon. if 2m�wer fails to make any C=v,�rR%rt when due or breaks emF �vanartts undar this deed of trust or any _ �- 7 -
<br /> dema 4 immediate pay�ment and ay+�lvokeeU�ie p wer of�safaa an�any oU�iere medie�sdperm tyted b�v�ap�pticabie taw���f�e seaued debt and
<br /> � 11. Rrquast 1or Hattee of D�fault.It Is hereby reG�: �+.liat caDies of the notlees of defauk and sale be ser►t to each Derson v�A�o ia a party �:•': . :� �.
<br /> hane:o,at tt�e addresa of each such�o--ssn,as set feri�!`erein. '- " �� �
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<br /> 72 ��au of Sai�.If the Lender im��rs tfie power of sata,�2 T�;,s[ae shatl first record in the office of the register of deeds of each county :��;1t�s, ;F :; `
<br /> wlLezz�str�Vuat proDertY or some pert or parcet thereof is s�tuz.'at z�otice of detauft cortteining the iwfortnation requirad Dy i2�_Ths Trustea � .� `_ _,�
<br /> tr
<br /> shaf�as�:�sail co9ies of the notice of deta�ft to the Borrower.T na��parson who is a party hereto,and to other personn aa;,rescribad by - •
<br /> apptieabie iaw. Not less than one month after the Trustee re�s t'sa notice of defauh,or two mortths if the Vust properry is not in any ,}3
<br /> ' • incorporated city cr vi+'.�pa assd is used in farming ct�a��ons ca�^.2�o�by the tru��s,the Trwtse shall g'rva pu6�c notice of safe to the parsons � .
<br /> and in the mann�p:*��b=d 6y aUpA�icable Iaw.Tn:�a�. wKTs�ut demand on Bo�auar,shall sell the properttir G:r��blic auctian to the hlghesi :''-
<br /> btdder.B requirad Cy t`�!Fatm Homestead P►otecttcrr✓N..�•Trwre�shall offer the y'aaerty i�two separate s2::s�requhed by applicable tevs• • � •
<br /> ' Trustee raay postpone sa:e ot alt or a.�y parcel of the�•:�2rty�.u�tic aanounee:r.ent at the tim�and place a�ary�ravious!y sshaduted s.ie. ,�,r 1F � �=:-:
<br /> l.ercQ�a•.ts Oesfgnee may purch�a a�a pmpnrty at ary s?ie. ., �;
<br /> ' �r .The red����nta lne d In t'��+:' �
<br /> • Upon receipt of paymant of ths price bid,Trustee shall de►iver;01�a purchacer Trustee's deed cc �a�ing the property r
<br /> Trustee'a Qeod chall ba pdma taGie evtdience of the truth of the statements contained therain.Trustee shall eppty the proceeds o'r�e sate in the � �
<br /> •� totlovAng order. ta) to ell expenseo of the eale, inc'uding, but no2 Iimited to, reasonabla Trustee's tees, reasonablo attorrtey's feee artd - '
<br /> � reinStetement feos;(b)to ell sums secured by this d�ou og trust,and(c)the balance,H any,to the parsons legalty entitled to reeeive it. ����`
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<br /> 93.Forrcloaun.At Lendare opUon,thls deeA of tn.,Tt rnay be torectosed in the manner provide by applicable law for forectosura af mortgages --���°�.
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<br /> • 14.Qsrpme.'Jon.l..ender may enter the proDerty to inspect it if Le�Ear gives BoROwer noUce beforehand.The no2iee muat staro t'�A reasonabte �.:3;,�.�____�_�
<br /> ca�at�or c..ender's(nspecdon. . _
<br /> ' � s 16.Ca�Uon.Eca�war asslqns to LenQer Me roeeads of any award or ctaim tor damages connected with a eondemnaUon ar othe►taking �`"{�
<br /> of all or any Dart ef t"F'rxoperty.Such proeeeds wiP bo apptied as provlded in Cor¢nam 1.Thls asslgnmerrt Ia subjeet to tho terms of any 9rior `�.•=_Y'`�'i=•_-~-_
<br /> • securiry agreemec�:. - -
<br /> • 76.K�.81r exerelsinp any remedy avaitabfe to Lender, lenQer d:e.s not give up any rlphts to later use any oihat romedy.By�suC exercisinp ����-
<br /> eny rmauvy upon Borto�ver's dafault,Lender doea not waivs any rtc�*;t to Iater cons�der the evant o defautt M it heppens agaln. �±���
<br /> 17, Joini and S�v�r� UabiGty; Co�slyn�n; Succasson and As�tp�s Bwnd•All duUea unAer Mis deed of trust are jotnt an;� several. Any '�`"�' -�—�—�•
<br /> �+.�m;.
<br /> Borrower who co-sipns thls deed of trust but does not co-sign the under!yIng debi tnsuumarrtta) does so only to grant and conway thet -�..�
<br /> - Bonower's i�terest In the propePty to the Trustee under the tem�s of this deed of trust.ln addiUon,such a Borrower agreos that the I.ender and ,r;:- _.
<br /> any other Bortower undor thts deed ot trust may extend, mod�or make any other chanpes in the terma of this aeed of crust or ths saeured , •
<br /> debt withaut that Bortowor's consent end without reteasing that orrower from the terme ot thts Ceed of trust. ' ' � ••
<br /> - • t„y.�s �:
<br /> . The dudes end benefrts ot tAla deed uf trust ahatl bind and benefrt the successora and assigns of Londer and Bottowor. ���"'�.'��,
<br /> 18.Notk�.Untesa otherwlss raquired by law,arry notice to Boaower shall bo glven by de8vering it or by meiling it by certifled mait adQresse0 to �'+w�` V� _
<br /> ' 6orvower at the pro�ty eddrese or any other aCdrese that Borrower has given to Lender.Bonower wilt plve any noUce to LenQer by cerUfled ��L':.��c;:. �-.
<br /> � mall lo LendePs a6�on page t of thla deed aP;rsst,or to any other adAreas which Lender has deslgnated.My other noUco to Lender shall y�.,,..,:.-_,;..__ —
<br /> be sant to Lendere addroas as stated on pape t ef t�'.is deed of uust.
<br /> ' • Any noUce shall be deemed to have taen yiven to Banowor or Lendor whon gives d�the manrter aiated above. "��z�- —
<br /> � - �11F.T4M�A.` .
<br /> 79_Srant�r of th�Propaty or s ITm+a�elY Irttx�st In th�BartowN.If ell or any part of the w�,�y or any interest in it is sal�i cr vars`•crr.�d �`��" "�—-
<br /> � wit1:�:4 Lender's ptlor written�r.a�:c�*.. Lender rr.a demand immediate aymer.t ot the sacured debt. Lendor ma atso Cwn:n��i:.^:r..eQat3 .���_°`� _ _
<br /> Y 0 Y •'t:+�.
<br /> payment if the Bonower is not a n�--rral persan a.d a beneflcial intorost in tP.e Eotfower is eofd or trensf�rro4. However, trr.Eer may r,e. :��=-��,r.,--. . �
<br /> domand payment in the above sit a�z::�rt rt is;r:rii:rted Dy tsderal law as of tRe Qa.:e of thlo daed of trust. � , %==---
<br /> 20.Reeor�v�yane�.When the o01"r;f.n�sa7.:rpi ut rMta deed of uust has been patd and Lender has no tuc�f��r:�agdIICn�ralco edvarters , .' . '-���'�=.T.
<br /> •� ursd:r tJ�s tnstruments or agreeme.�rs sos;:re3�i C^�s deed of trust,the Trustee ahalf upon writton roques:G�tt:e Lendar,rnr_nvay the trust . .
<br /> prapa�ty.Tt�o Lan�er shall deliver or L�o 3orrewES.cr to Borrov�ar's successor in interest,the tru...<-t deed and,..e.^,ote or ontw�e�.r,dence of tho . . .
<br /> ofl::g,m+on so natlsfled.Borrower sha:}pay any rae:r�aUon costs. . R—
<br /> � Z'1. Sueeeasor Truateo.Lender, at Lender's ocn.:r, may remove Trustee and appoint o suceessor trusrea hv "irst, marix-� a eopy of L�e �
<br /> substihrtlon of trusteo as required by eppticabta izai, ond then,Dy filing the substitution of trusiea for rewrd in t1�r>a�fico of the ragister of Ce�S> •
<br /> of each county in which the uust proparty,or some part thereof,is situatod.The successor trustoe,wiihcut rnm�vya�ce of the property,s�at�
<br /> ' succead to all the powar,duHes,authority and trtte of the Trustee named in tho dead of trust and of any succac:+:r��stee.
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<br /> Ipnge 2 oJ 11 ��._
<br /> OAIfIfEAS SVSTFMS,INC-.ST.CLOUD.MN 58301 it$0O397d3611 LORM OCV-hfT6N2 8�1991 - .- .
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