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<br /> � ° `:; 1. Paymcnm. 6orrower agrees to make aIl paymerts on the seaued dabt when due. UNess 8o�tower and Lender agree athmwise, arry ,� ,:. � ��� �
<br /> payments Lender tecefves trom Borrower or tor Borrower's Oenefit wili Ee applied first Yo any amounts Borrower owes on the setured debt
<br /> ° ezetusive of iMerest or principal,seeond to interest,and then to prinaRal.if partial prepayment of the secured debt occurs fm any reason,it wilt • .
<br /> ' � �ot reduee or eYCUSe any scfieduted payment ur�til the Seeured debt is paid in PoIL '
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<br />'.r ` ' • �. � 2,patctw Agatss�t Title.Bortower wiil pay all taxes,assessments,and oiher charges atiributabte w theproperty when due and witt defend titte � � < ` - '
<br /> .� , efe�nses whichagOrtowe Y��jr h ve agein t�partf sp ho�Gph tabo a�r meateriais��ot improve orinr�Quir�e 6h@ prmrer�assign any rights.elaims or ' "���. •.-
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<br /> • �� 3.tnsuranea. Bortower wiil ksep the propercy lnsured under terms aeceptabte to Lender at Bonowera e:pense and tor Lenders 6enefit Ail � ` ;
<br /> ' ' iruarance po�Icies shail inciude a standard mortgage ctause in tavor of lende►.lender will be named as(nss payee or as tha insured on eny such ' �
<br /> . + . iasnranee policy.My insurance procaeds may 6eap plied.within Lender's disaeUon,to eitfier the restoraton or repair ot the damaged D*�AenY , ` � -„ ' •
<br /> , or to tAe seeured dabt.it Lender requires mortgaSe insmance.Bcrtawer a�eea to mairrtain such ins�uance tor as long as Lender requires.
<br /> ' 4.Roperty.Hottower will keep the Droperiy in good condition and ma{ce all repahs reasonabfy necessary. � � �
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<br /> =-----�� 5.Fspenses.Honower agreas to pay atl Lender'e expenses,inetuding reasonable attomeys'fees,if Bonower 6reaks any cavenarns in this deed _ . ' •
<br /> _ _-� ot trust ar in any obligation seeured 6y this deed oi uust Barrower+nnll pay these amnunts tn Lender as provided in Covenant 9 of this deed of __
<br /> ` �� . , Vust. ... -
<br /> � ` 8.Rtos Sewrkyt Inffirests.Untesa Bartower first obiains Lenders written conserrc.Bonawer wli not make or permit any changes to any prior , . �� `� �,
<br /> " ' seautty irrterests.BoROwer wilt perform all ot Bonower's obligations under am► prior mortgage, deed of trust or other seamty agreemerrt, • - -• •:-
<br /> - - . induding Bortower's covenante to make paymeata when due. . •f`."'-`
<br /> ' 7.Asstanmwrt of Rente and Rofite.Barrowar assigns to Lendsr the rents and profits of the property.UNess 6mrower and Lender have a�esd ,
<br /> � affierwise in wrifmg, Bor�ower may eollect and retain the reMS as long as Barrower is not in detauit If Borrower defautts,Lender,Lendefs - � •
<br /> �` � • agent, or a wurt appoimed reeeiver may taRe possession and manage the property and cottect the rents.Any rents Lender eolleccs shail be � � '`
<br /> � ' ' �•: appGed flrst to the costs of managinp the property,induding court costs and attomays'fees, commissions to rentat agems,and arry other ;.� ��:'�<;`
<br />;';` ' ' eecessary related e�penses.The remaming amovnt of rents wili tfien appty to payments on ttm secured debt as proviQed in Covenant 1. ' '�,��.:�,r-'
<br /> • 8.Leasefiolds•CondomWums:Ptannsd Unit Devefopmertta.Borrower agrees to compiy with the provisions of any tease If this deed of trust is on � �����:,����:. `
<br /> - .�` ` a teasehold.I�ihis deed of misi is on a unit in a condommium pr a ptanned unit developmem,Borrower wili perform all ot Borrower's duGes -
<br /> � under tAe covenants,bydawa,or regulatlans of ttie candominium ar ptanned unh devetopmern. _ _-�-
<br /> �r; . . •� . 9.Aut�odty M Lcnder to Parform tar Bortower.If Bormwer taiis to perfartn any ot Bortowe�s dutfies nnder this deed of trust; Lender may t, ` �r. ';.'
<br /> perform the dutiea or cau5e them to be performed.Lender may sign Borrowers name or pay arry amourtt N necessary for pertormance. ff any
<br /> ' wnstrucdon on the praperty is disemiUmmied or not cartied on in a�easonabie manner,Lender may do whatever is necessary to protect F.Bnders � `"�
<br /> � seauity irrcerest in ths propertyr.This may inciude compieting Me construcdon. ' --
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<br /> _ � . Lender's faiiure to perfortn wiii not predude Lender from exardsing any of iis other rigMs under the law or this deed of trust. � -
<br /> - • ' AnY amourns paid 6y Lender m protect Lenders security interest will6e seaued by this deed of trust$uch amaurtts wifl be due on demand = ��;. `��',�?�.
<br /> • antl wiii bear interest irom the date of ffie payr.�ent until paid in full at ffie interest rate in effecc on ihe secured debL , ', �i�?'i-
<br /> - . 10.�efa�dt m�d Accetaratton. If Barrower faits to make any payment when due or breaks any covenarns under this deed of trust or any � `=.�•;`"_
<br /> - ' . obiigation secured by this Qeed of Vust or any prior mortgage or deed of trust, Lender may acceterate the maturiry of tha secured debt and , � � �'•,-�.;��,.=_
<br /> • .. dema�d immediete paymeet and may invake the power of sale and any otfier remedies permitted by appitcahte law. • ; •r '_�=.
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<br /> _ _ ' � °`" 11.Rnquost fm aottco ot Oefauft.it is hereCy requested that copies of the noUeas of Qetautt and sate be sent to eacff petson who is a party . :;..',�,��_
<br /> � �F hereto,et the address of eaeh sucA person,as set forth herei�. �. ��;�s,.-
<br /> i`'�., . 12.Power at Sale.if the Lender irnokes the power of sale,the Trustee sfiaii flrst record in the o�ce of the register of deeds of each county `_•a :��_;:
<br /> � ' wherein the wst properry or same part or parcel thereof is situateQ a notiee of dsfauft car►taining the infottnation reqwred by law.The Trustea ___
<br /> � ` shatl a(so mail copies of the noUce of defeutt to the BoROwor,to each peraon who is a party hereto,and to other persons as prescribed by =_-
<br /> .:;?� ' appiip6le law.Not less than one month after the Trustes►ecords the�oUce of defautt,or two morths if ihe trust property is not in any • � . --
<br /> � ' � incorporated city or viltage and is used in fanning operations carried on by the trustor,the Trustee shatl give pubiic notice of sate to the persans , -
<br /> ,� ; •���, and in the manner presaibed by appplicable Iaw.Trustee,without demand on Bonower,shall seU the property at public auation to the highest - _-_
<br />.���: . .� �,, bidder.If requtred by the Farm Homestead Protection Act,Trustee shati oHer the property in two separate sales as required by applipbte law. �;;-� _:
<br /> - • Trustee may postpone sale of ail or any parcel ot the property by pubiic announcement at the time and piace of any previousiy scheduled sate. ' :��,�-
<br /> LenQer or its designee may purchase the property at any sale. ' •.��,
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<br /> ,� ' � , . "" Upan rece�pt o!paym ent of the pNce h?d,Trustee shail deiiver to the purchaser Trustee's deed conveying the property.Tha rBCtUats contained In � .•.: -
<br /> ' ' � Tnistes's deed ahall be prima facie avlEience o!the uuth of the statementa contained therein.Trustee shall apply the proceeds ot the sate in the ==
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<br /> f�'=` ��°�' - ° � � toifowing order. ial to aD expenses oT the sate, inGu�ng, but not timited to, reasonabte Trustee's tees, reasonabis atiorneys fees end '��''"`"%•-
<br /> R��� ' reinstetemertt tees;lb)to aD sums secured by thls deed of trust,and tc)the baiance,if any,to the persons legaliy entitled to receive it. • -• -'�
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<br /> 13.Foredosure.At Lender's optlon,thia deed of truat may be foreciosed in the manner provide by applicabte Iaw for forectosure of mortgages
<br />� . � on reat propeRy. '��e=s:--:
<br /> � , � � 14.Ina�ca9on.Lender may enter the property to inspect it if Lender gives Bartower noilce beforehand.The noUce must stete the reasonabie ,r-�T=
<br /> � . • causa for Lendar's ins0ection. ° -
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<br /> �'!' � � otell nr erry pa�it oiglie pr�i�Such proceeQshwiP�be appNed asYprovlded tn ICave antat aThis assignmen Wi.4�subject tomUnie te°rtns ot e�priog . •- ����
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<br /> ' � secur(ty egreement. � � ���•
<br /> �':+ � � ��? 18.Weiver.8y exerctsing any remedy avaitabte to Ler►der,Lender does not give up any rlghta to later use any other remedy.By not exercising � - �-
<br /> � `� any remeQy upon Honower's defautt,lender does not waive any tight to later consider the evertt e detautt+f it happens again. � ' _
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<br /> �:: � . •���f 17.Jatnt and Sevaral tia�tifftv Co-stgners; Succesaars and Asstgna Bound.Ail duties under this deed of trust are Joint and several. Any . :_
<br /> �-r: : • Bonower wha co-signs this deed of trust but does not co-sign the undertving debt instrument(s) does so onty to grant and convey thai •
<br /> � Borrower'6lnterest in the property to the Trustee under the terms o1 thia deeQ oi uust.In addltlon,such e Borrower agrees that the Lender and ' � �
<br /> • . ' s any oiher Borrower under this deed o1 bust may extend,modi�or make any.other Changea in the terms of thia Aeed of uust or the secured �
<br /> . debt wFthout that Bonowers consent and withaut releasng that orrower trom the terms o!this deed of trust. �
<br /> The duties and benefita ot this deed of wst shail birttJ and beneilt tfie successora and assigna of Lender and Borrower. . . �
<br /> ��• - 18.Katlea.Untess otherwlse requlred by law,any notice to Barrower shall be glven by detivering it or by,mailing it by certitied mail aQdressed to . .. �
<br /> � Borrower at the pro�erty z��resa or any othet aQdrass t7�i Bortower has given to LenQ2r,Bonowor w�il give any notirs,to LenBet by cettified .
<br /> � . mail to Leader's address oz page 1 ot thia deed ot trust,or to any other address wfiicl►tenEer has designated.Any other notice to Lender sfiail • �•
<br />: • be sent to Lender's address as atated on page 1 of this deed of trust. �
<br /> �� � Any notice shall be deemed to have been given to Borrower or Lender when given in the manner atated above. , '
<br /> ` � 19.Transfer ot the Property or a Beneflcia!Irrterest in the Bonowet.If ail or any part ot the property or any interest in it is sold or uansferred �
<br /> ' . without Lender's prior writ;en consent, Len�er may demand immed7ate payment o!ths aecured debt. Lender may also demand immediate • . �
<br /> . � � payment i1 the Barrower is not a natural person and a berteflcial interest in the 8orrower is sold ot trensfeaed. However,Lender may not - .
<br /> . . demand paymerrt ln the above situationa if it is prohibited by federal law as of the date of this deed of trust. ' �
<br /> , ` � 20.Raeonveyanco.Whan tho obHgation seeured by thia deed of trust has been paid,and Lender has no further obflgation to make advances . � �..
<br /> �:�`, under tho instruments or agreements secured by this deed of trust,the Trustee shall,upon w�itten request by the Lender, reconvey tfie trust �
<br /> �c property.The Lender shatl deiiver to the Borrower,or to Borrower's successor in interest,the trust deed and the note or other evidence ot the
<br />� ^' • , ob6gotion so satisflod.Borrower shatl pay acy rocordatlon eosts. • ,
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<br /> �� , 21.Suecessor Trustee. Lender, at Lender's option, maV remove Trustee and appoint e successot vuatee Ey tirst, maiting a copy of�he �• �
<br /> substltution of trustee as requlred by applicabte law,and then,by filinQ the substitutton of trustee tor tecord in the off�ce of the registor of deeds ''�
<br /> _ • o}each county in which the trust praperty,or some part the►eof,is srtuated.The successor trustee,without conveyance of the property,shall • �
<br /> '�•.. i succeed to ail tAe power,duties,authonty and titte of the Trustoe named in the deed of trust and oi any successor trustee.
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<br /> � , BANKEflS SYSiEMS.R�C..5? CLOUO.MN 58301 I7�800397�23Ati fORM OCV MTQNE 6/1991 — �. �- - . • .
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