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<br /> COVH�ANT5 J&D� �����0 • .F'
<br /> ' '�' `',. , �, paymerte. Bortowar agrees ta maice all paymeMa on the Sacured debt when due. Unleas Borrowar and Lander egree oL'fetwise, any , '}��'
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<br /> ,, ,F> � ;- paymeMS Lender receives from Bortower or for Borcowar's benefit wi��bo aPA��Bd��e�Y amaunts Barcowet owes on the sscured de0t ; � �'
<br /> • • ,.',;.: �s�ot���or prineipai,sseond co iMerest,and then to prindpai.�t paztial prepayment of tha seaued debt occura tor any reosoo.it wiU
<br /> �. not reducs or excuse a n y s c h e d u l a d p a y met►t urtil the SeCtued deDt Is DaId N tulL � ^ `,.
<br /> �� ` .� ���A���:Po����S$'y"�,�ta�ceg, 'es¢meAts,and otRer chetges att�ibutaEte to the property when due snd wi�i defend tftle ��
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<br /> � ' , to the proDe.rt11 a��Y����� uCd iRiP�the Iten of this desd of trusL Londar may require Battower to assign arry righte.deims or . . .
<br /> • de}es�ses w1u�h orro�uer may hava�ait�at��rtlBS�ho�P�Y��o�materi8la to improve or maintain tNe Oroperty.
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<br /> ;. 3.tnsuranee.Bortow9r wiil tceep tha Juo�artSr gansureA nmter tercns acceptabte to Lender at 6orrower's expense and!or lendeYs beneTit AU , �.J,��,
<br /> i u�rance P GcY-A�ry ins�ue��OrQ�eds may 6e 8pP edewhhin Le deadd a on to elbUeier ths�resmre�t'�o ai%pair of ine�eged prVoA nV . .
<br /> ` . or to tlie secured deb�If Lender requires martgage msurenee,Bortowar agreea to me1ntain such insuranee tor as long as Lender re�wUes.
<br /> ` . _�-�: 4.prcpeRy.Bartower wiU keep ths Property in good condition and make all teDairs reasonabty necessarY• `�. _. . ,,.
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<br /> 5,�,gprrcyyet a g r e e s to pay eU Lender's expenses.ineiuding reasonable attomeys'tees,if Borrower breaks any covenams in this deed
<br /> of bvst o►in any oblig a Uon sedued bY this deed of uust Borrower�nn R P8Y me�e�+OU�tO���as provlde0 in Covenarrt 9 of Uus deed of _. L
<br /> -. `„; trust. , _.
<br /> , . _ ' , :-� 8.p�or S�y�regtp,Untesa Borrawer first obtains Lenders written consen�Bortower witl not make or permit anY changes to arry prior
<br /> •�. ��'" incfe ud g�6 v�vers oovenants to�maatc pa�yme��en dueobligattons under any prlor mortgaSe,deed o}trusi or other sawrity agreemert� ' u
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<br /> f 7.Aasignmer�t ot Rerne end P�ofita eortower assigns w Le+�der the rerrts and profits of the properry.Untess Bonower nrtd LerMer have agreed
<br /> o�herwwe in uvriUng, Borrower may collect and retat�the►ems as long as Barrower is not in deisutt If Borrawe► detautte,Lender,Lender's , } ,
<br /> agent,or a court apPoi��e��� �ke possession ar►4 manage the property and colfect the rents.Any�ents Lender coilects shali be �
<br /> ., neQ�ice�ry reta�ted�en�sesfThe sma8n'mBeamour�rt of ents�v�in"II U�n aPPN D�errts°^Ithe eraued d bt as pravide�d inBCovena�ai�other ' . •``
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<br /> a�le sseho d.�tf•�this�de�ed�trust�on a�in a�ao�nQom nium or a pTe�n��de�eloP eM�Borrower�wiU�perform ail�!Bo owes�d tt� � � .. • -
<br /> �• , �n�s r�h e c o v e n a t n s,h y-l a ws,or re g u taticns of the condominium ar pfanned untt davetopmerrt.
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<br /> r � . 9.p�a�y of Lender to per(otm tor Botcower.If Borrower tai'Is to perform any of Botrowers duttea under lhis Qeed of vust,Lender may -. ---
<br /> perform the d+tUes m cause them to be performed.Lender may sign Bortowefs name ar pay azry amouM if necessarY tor perfortnance.If any ___
<br /> � construc8on on thepropetty is dis�rrtinued or not cartied an in a reasonable mannet,Lender may do whatever is necessarY to protect Le�der's � _
<br /> . seprrity irterest in the ProDa*tY.This may i�dude compieting the consuucBon. � �L,
<br /> - • � � - - Lender's taiture to per(orm wili not preciuds Lender irom exercising any of its other rights under the Iaw or this deed o f trust � ��-!�;�x
<br /> .i�'..?� � Any amountb paid by Lender to protect Lender's sacurity imerest v+n11 be secured by this deed of trust Suct�amourrts will be due on demand __ , , �-:�
<br /> j .. .• and�nnll 6ear interest irom the data of the paymer+t u�+til paid in tuil at the irrterest rate in effect an the seared debt.
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<br /> 10.Detault and Acceteration.If Bortower faits to make arry paymeM when due or breaks anY covenaMs unQer this deed of trust ot aroy ���
<br /> ` obligation secured by this deed of uust or arry priar moRgage or deed of Uust,Lender may accelerate the malurity o!tfie secured debt and q. �---
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<br /> demand immediate paymeru and may imroke the powet ot sale and any other remedtes pertnitted 6y appllcable law. J. �r `%,k'
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<br /> ;F 11.Re�uest tor Notice of Defauft.1t is hereby requested that copies of the notices of defauit and sate be sent to each peraon who is a party �'
<br /> hereto,et the addresa of each sucfi persan,as set forth herein.
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<br /> r, . 12.power of Saie.It the Lender inwkes the power of sale,the Trustee s h a i l H r s t r e c o r d i rt t h e o t ft c e o f the re g i s t er of deeds of each county► _
<br /> `.'� wherein the trust property or some part u►parce�thereof is situated a notice of detauk wsrtaining��n���oon�rB pire�b�t�.`Th�7�d�Y __
<br /> '��• shall aiso mait copies ot the noUce of default to ttfe Borrawer,to each person who is a party t� �pt in any �
<br /> '�� '°,, appIIcebte taw.Not less than one montb skec the Tnistee recorda the notice of detauft or two months i�the uust PioPe�ll�
<br /> � . incorporated city or viilage and is usedi�n b'farm�aP�e�e���daem�and on 6 rrowereshail e II t e11property iat public auctian t�o tha highest , � �
<br /> - r :°• and in the ma�neo prescribed DV aPOP T , �'��
<br /> bidder.If required by the Farm Homestead Protection Act,Trustee aha(I offer the propertY in two seDarate sales as required by appiipbte law. F--y
<br /> � Trustee may pos�one saTe of ail or any parcel of the property by public announcement at the time and place of any previously seheduted sate. '1��,;,
<br /> - � • . Lendet or tts designee may purehase the ptoperty at any sate. �-
<br /> -`---,-.� .' �- Tr�us�tee s deed shail be pima facie ev�'�dience of d�e�uuth of the s�tem��s co�ta�nede the eenaTNStee shal�l epprty ths roc�erds of�d�e sa�te�inthe +� � �r ,
<br /> _ . _•�j foltowi�g order.!a1 to a11 expenses of the sate, iaduding, but not limised to, reasonable Trustee's tees, reasona6te attome�fs fees and :,�,,•
<br /> �einstetement teea;(b)ta all sums secured by this deed of trust,and(c)the balance,if any,to the persons tegai[y eatltled to receive ft. �«
<br /> ' 13,Fotectosure.At Lender's opUon,thts deed of vust may be forectosed in the manner provlde by applicable law for foreciosure of mortgages � .::.q_,
<br /> - . . : E�:': on real propertY. � ,���-�-_
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<br /> ` 14.fnspeedon.Lender may enter the property to i�spact it if Lender gives Bartower notice beforehand.The notice must state the reasonabte _
<br /> � cause for LenCe►'s inspection. � :•��_
<br /> c 15.Condemr+atlon.Bonowar asslgna to Lender the,�roceeds of any award m claim fpr damages wnnected with a conQemnaUan or other taking ;:��
<br /> ; . ot all or arry part of the property.Sucb praceeds wi 1 he appiled as provide0 in Covenant l.Thls aasignment is suDject to the terms of any prior � : ;�:
<br /> �� f security agreement - _
<br />'�:; .''• 10.Waiver.BY exercising a�Y CBmed�availabie to Lender,Lender does not give up any Hghts w Iater use ar+1r other remedy.By not exercising
<br /> • ' any reme6y upon Bonower's detautt,Lender does not waive any�ight to later conslder the everrt a defauk if it happens again.
<br /> � 17,Joi�rt and Several UahI6N: Co-slBnere: 8uecesanrs and Aas�Bns B°und. Atl dutias under this deed of trust are joint and sevetal. Any �.�'; ���
<br /> I tY:
<br /> ' Bortower who co-signs thls deed of truat but dooa not casign the undertving debt instrument(s) does so onty to grant and convey that • ��a.�.-_T �'°
<br /> � ' Bottower's iMereat in ffie property to the Trustee under the terma of this deeQ of trust.In addition,auch a Bortower a�aes that the Lendar and
<br /> , deDt6without that Boriower s�conseditt�end withouyt reteas ng rt�et Borrower ftom tho terms o�in s a ee°}vust thia Ceed ot bvst or the secured
<br /> . " The Quties and benefrts of this deed of uust shatl bind end benefit the successors and assigns o1 Lender and Borrower. . . • � �
<br /> 18.Notice.Unless otherwise requlred by taw,any notice to BoROwer sfiail bs given by dalivering it or by maiiing it by certiflod meii addressed to ;. •.
<br /> Borrower at the property address or any other address that Bonower has given to Lender.Bortowet will give any notlee to Lende�by oeRified ...�.:�+•
<br /> .;� . mail to Lendefa address on page 1 of thia deed of wst,or to any other addresa which Lender has designated.Any ather notice to Lender shall ,
<br /> . be sent to LendePs aQdress as stated on page 1 of thi8 deed of trus�
<br /> '� Arry rvatice shall be deemed to have been given to Borrower or Lender when given in the manner atated above. • • � �
<br />`;it�'. ' � - .
<br /> 19.Transfer o1 tlie Proparty or o Benefleta)Intarost in tho Bortawar.If afl or any part of the property or any interest(n it is sald ar tranaterred
<br /> ' wRhout LertC�'s prlor written consent, LenQer may demand immediats DaYment of the seeurad debt. Lender may atso demand �.:..nediate •
<br /> � • payment H tt�e Borrower is not a natu�al Derson and a beneficial interest in the Borrower is sotd or Vanslerred.Howevar, LenQer may not � _
<br /> demand payment in the above situations d R ia prohitirted by fedetal law as of the date of this dee0 of Uust.
<br /> 20.Reconveyanee.When trie obtigation sacured by this deed of trust has been paid,and Lendor has no turther obligation to rr.ake advances -
<br /> under the insWmenla ot a�eementa secured by this deed of trust,the Trustee ahall,upon written request b�r the Lender,reconvey the trust
<br /> property.The Lender shall Goiiver to the Borrower,or to Borrower's suceessor in interest,the Vust deeA and the note or othet evidence of the • .
<br /> " � obl�gation so setisfied.Borrower shall pay any recardation costs. .
<br /> �. j 21. Sueeosaoe Trusteo. Lender, at Lender's option, may remove Trustee and appoirrt a successor trustee by first, mailing a copy of the t � • .
<br /> - - � substitution of Vustee as required by app0eabls law,end then,by fiiinq the substltution of uustee for record in the otfice of the register o}deeda �
<br /> . � ' 1 succe d to a0 he power tdutiess authoit�y end titla oT the Trustee namedin the deed of Uust and ot any succe sor trustee.°f the proporty,shall
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<br /> ' BANXEAS Sr5TEMS.INC..Si.CtOUD.MN 9B30t n 806397•�3411 iOAM OCV MT6NE 8n991 : '
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