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<br /> � `,. �, pnymnrRa. Borrower agrees to make all paymerts on the securetl debt when du9. Uniess Bonower and Lender agree otherwise.anY = ; - _
<br /> ---�---j pgymeota Lender receives f�om Barmvvet o�fa�Bonowers bensfit will be app�ted first to any amouMa Bor*ower owes on tAe sedued dabt
<br /> � . e x d u a v e o f i rt erest or princi p al.seeond ���•�seeured debt+s p d�in�tu�ll. p�Daymem of the secureri debt occurs tor any rQasoss,it vritl ---.---=---
<br /> . ' ' ', not reduee or exwse arry schsduted paym � •-•-
<br /> ` z,paIrtts q�rtyiast TNte.Bortawar will pay ail texes.assessmeots,and other eharges attributabie to 4re property when due and wiU dafend titte
<br /> detenses whlch86onower may h�ave g 1'n i�pat ie�,spvevUho a0uppry Fabo�r a m�iia m imp►cve or mainutainedie�propart�l/�'gn any rights,daima or .
<br /> ` � 9.(nsurance. Borrow Il ineiude a standatd m�art qiage da�ea n fa o i I.end�e r�Lendar will 6e nam8d as Iosss�paYee or adstthe irtswe�dgo e�►Y 6� c ` � � �`
<br /> � • � ; instuanc0 polieies ahe ap . '
<br /> ' . .. ; or ts o�Uie s�cur�ed debL It L.wenQ re requ� om Rg 8e inps1eudenee Bortaw�a�to mairttain�weh insurance for as long as Lende�requirg�r�D� �,� `' ,
<br /> ,'. � � � q,property.Bortower wi0 keeD�e P�PB�N in good eondition and make alt repairs reasona6ly necessarY• '
<br /> _ : �_ � .� 6.6cpenscw.Barrower to pay a�Lender's e�enses.induding teasonable attomeys'tees,i�Bortower breaks any covenarrts in this deed - -- - _- �,
<br /> -_-_-.-- __ o}q����y ' on setened by this deed of Vust Bortower will pay these amourrta to Lender as prov3ded in Covenarrt 9 of this deed of - =. -- .- s:_L_:-
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<br /> . _f 8.Prtar Seemit�l trrteresm.Untess Bartower first obteins L.ender's wrttten consant,Bortower will not make or permit any changss w anY Prior �
<br /> • � f seqtrity irtterests.Bnnowar v�nll peAorm a1t of Borrowers obligations under any prior mortgaSe, deed ot trust or other sewritY agreemertL _
<br /> �, � induding BorrowePs wvenar�to make payme�rts when due. -- , ;:
<br /> 7.p�i u}Re�e end Prafite.Borrower assigns m Lsnder the rents and profits of the Qroparty.Untess Bortower and lender hava agreed
<br /> , � � othe e in writing, Bartowe►may colleet end retain the reeta as long as Bonower is not tn defauts.If Bonower defaults.Lender, lender's � ';f�; :�
<br /> , � �`:t egertt,or a eourt eplwirrted receiver may ta�Aetty i�ndudu�g�cauR 8costs andpatt ymeys'feas,com�missrons�mr�e�l ageerrts, and any other -
<br /> app6ed first to the costs of mana9ing th9 , <<
<br /> � � � necessary related e�enses.The temaining amount of rents will the�appty to paymertta on the secured deht as provided in Covenant 1. t:., _`:�::
<br /> a��9��q•��i�n,q.�nod 1l�dt Oe+ralopraeMe.Borrower a�rees to�ompIy wish the provtsions of arry lease if this deed of ovst is on - . ' ."�
<br /> ` a leasehold.If this Qeed of trust is on a unit in a condommlum or a planned unit developmeM,Bortower uvlll perfarm atl of Borrowe�s duties , • l .��'
<br /> . ' • �''_- under the covenants,bydaws,or�egulations of the condcmmium or planned unit devetopm�nt. - _,
<br /> • ` ' .4 9.Autharfty af Lender to Per(arm tor Bormwat.t!BoROwer fails to partorm ar►y of Barrowers dutfes under this deed of trusK,lender may .. --
<br /> .• • - �nsuuction on the prroperty is d�sco�n L'n e d o r n t cartied on in a r9easo abte man er,Lendery ay do whatever isne re�to P���endes � _�---.
<br /> �' seciuitll irrcerest in tfie psoperty.This may inctude comptetin9 the cronsouction. _ �;.'��y_
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<br /> Lenders feiture to pedortn wrill not predude Lender trom exereising arry of ita otfier righte under ttee Iaw or this deed of trust • ,��c _
<br /> ~ Any amounts Da{d 1+Y�ender to protect Lender's security t�rterest wlt De sewred Dy this deed of UusL Such amourts will be dua on demartd .. �'�.`
<br />. ' • „ �..7 an d uvfll6ear irrterest i rom t he date o f t he pa y m e n t u n ti l p a i d i n f u l t a t t h e i n t e r e s t r a t e i n e H e c t oo tAe secured debt. --
<br /> ' 1 0. Os4suft end Aeeeteralian. If BaROwer taits tn make a�ry payme�when due or breaks any coveaarts under thls deed ot Uust ora�y , . .f•�.,:_,���
<br /> � obligation secured by this deed of trust or any priar mo r t ga g e o r d e e d o f tr u s G L e n d e r m a y a c c e l erata the maturity of the secured debt end ,, r:;',-:�:--:�
<br /> ' • - demand immediate paYmerrt and may invake tfie power of sate and erry ather remedies permitted hy applicable Iaw. �,w.��;�
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<br /> 11.Re�est tor Nottea ot DeteulL It is hereby requested that copies of the notices ot deteuk ana sale 6e seni to each person who is a parcy .._ i .
<br /> - - hereto,at the address of each such person,as set forth herein. � _:�,v�i
<br /> . ' . 12.Power ot Sale.lf the Lender invokes the power of safe,the Trustea shall fast record in(�n a�the f formmatlort eequred 6y law The Tr�ustee .'.`.r��'
<br /> � wherein the uust property or some part or parcel thereof is situated a notice of detautt eortta
<br /> • • � sha0 atso mail copiea ot the notice of c'�fauk to the Borrower,m eacf►person who Is a party hereto,and to other persons as p$r not�ln any ���� �.
<br /> appLca5la taw: Not Iess than one mo:�Yn after the Trustee records the notice of defeul�or two morrchs tf the truat Property i ,�
<br /> � incorparated etty or village and is used n terming operations cartied on by tha trustor.the 7rustee ahall give public notica of se�e W ths Persons !�., ' �+
<br /> and'm the manner prescribed by apppficabte law.Trustee,without demand on Bortower,shall sell the property at public auction to the hlghest �.��%a
<br /> bidder.tf required Dy the Fartn Homestead ProtecUon Act,Trustee shall oHer the property i�two separate sales as reqaired by aypGcable law. ���.�-�;-:�
<br /> Trustee may postpone sa'.a ot alt or any parcel oi the Droperty by public announcemerrt at the Ume and ptace of any praviously scheduted sate. , .^,'Y�j;-
<br /> , • Lendar or its designee may purchase the proDerty at arty sa(e. �., _
<br /> � � Upon rece�pt of payment of the price bid,Trustee sAall Cativer to the pu►chaser Trustee's deaQ comroVing the D�oD�N•The���COntained in � `
<br /> f'.��; Truates s deed sAafl be ptima facie evidienee of the uutA of the atatements wrttained thereln.Trustee ahall appty the proeeeds of the sate in ths �� �-�;_.
<br /> followin8 arder (a1 to all expenses of the sale, iectuding, but not limited to, reasoneble Trustee's fees, �easonabte attorrs�fs fees and ����
<br /> -- -• � -- reinstateme�n�aw.w;ta a11 sums secured by this daed of trust�8Rd IC�ffi9 hAlAtl('A if aev.to the oereons tegally eMttled to recelva it. _ ^
<br /> � ' . 13.Forectosure.At Lender's optlon,this deed of ttust may bo forectosed in the manner proviQe by appNcabte law tar forectosure of mortgages =��..:,.�,__
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<br />_., : .. � on reel property. '�::;
<br /> ' ' 14.trupeetlon.Lender may enter the Dropariy to inspect it tt Lender flivea Borrower nouw ueforehand.The noties must state the�easonabte '.:�,;�,7�
<br /> � � cause for Lender's inspecUon. 'L�-
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<br /> � 15,Condemnatlon.Bortower assi gns to lxnder the proceeds of any award or clatm for damages camiecte0 with a conQemnaUon or other taking ` ' t p���.
<br /> at all or any part o f t he prope r i y.S u d s G r o e e e d s w i l l b e a p p l i e d a s p r o v i d e d i n C o v e n a n t t.T hls assi g nmerrt is subject to the terms of any prior :�_• ..,
<br /> '. _ • . aecurity agreement. � � �=T�"'
<br /> �� , � 18,Waivei.By exercising any remedv avaitabie to Lender,Lender doea not gtve up amr�I9hts to later usa any other remedy.By not exerclsing
<br /> any remedy upon 8ortowat's detault.Lender Goes not waive any tight to later consider the eveM a default if it happens again. . .
<br /> ' 17.J�c and Sevetaf UabUity Co�al�er�:Suceessors and AssiIIns Bound. All Qutiea under this deed of uust are loint and saveral. Any ' ���"
<br /> Borro�v� who caslgns thia deed ot trust but doea not co-sign tho underhr(ng debt instrumentla)does eo only to grant and convey that •
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<br /> Bortowers interest in the proDerty to the Ttustee under tha terms of thls QeoQ oi Vust tn additton,sucb a Bortower agrees that the Lender and _ , •
<br /> � � any othet Bonower under this deed of trust may extend,mod�or make any other changea in the terms of this deed of vusi or the aecured
<br /> .: debt without that Bonower's consent and without releasing that orrower from the terms o!this deed of trust.
<br /> ; � : � The duties and benefits of this deed of trust shall bind and Aenefit the successora and assigns o!Lender end Borrower. ° : , .
<br /> 18.Hoticv.Untess otherwlse required B�taw,any notice to Borrower shatl be given by delivering it ar by maiting it by certified mail addressed to
<br /> � � ..� Boaower at the proCerty address cr 2m1 other addrese that Bonowet has given to Lender.Bonower will givo any notice to Lender by certified ;�:,,•., •
<br /> .:� mail to Lender's address on page t cf;^�is deed of uust,or to any other addresa vuh)ch Lender has designated.Any other noUce to Lender shatl
<br /> be sent to Lender's address as stated on page 1 of this deed of trust. .
<br /> Any notica shall be deemed to have been glven to Borrower or Lender when given in the manner etated ebove. � � • :
<br /> 19.Transtet o1 the Praperty or a BonoflclW tntorost In ffia Barto,�r.tf sll or any part of the propertv or any interest in it ia sold or transferred .
<br /> � � wltho�K Lender's prio► written consent, Lender may demand im.r.�ediate paYment ot the secured dobt. Lender may also demend immadiate •
<br /> ,. . paymer.t R the Borrowet is not a nz:ural Oerson and a beneflciaf interest in the Borrower is sotd or uanaterred. However, Lande►may not
<br /> : � demand payment in the above situa:ions if it is prohibited by federat law as of the date o}this deed of Vust.
<br /> � � 20.Reeonvoyence.When the oDligation secured by this deed of trust has been paid,and Lender has no funher obligation to make advences
<br /> under the instrumenta or agreements secured by thia deed of Vust,the Trustee ehall,upon wNtten request bV tho Lendor, reconvey the trust
<br /> � property.The Lender shall deliver to the Borrower,or to 8orrower's successor in interest,the aust deed and the note or other evidence of the
<br /> . obligation so satistled.Borrower ahatl pay any reeordation costs. ,
<br /> � 21.Sueeosaor Tnuteo. I.onder, at Lender's option, may romove Trustee and appolnt a successor Vustoo by first, mafting e copy of the ��
<br /> substitution of trustee as requirod by applicable taw.and then,Dy fi�ing the su6stitution of uuste�for record in the office ot the�eglster of deeds �• •
<br /> ' succeed touall tho power tdutiesgauthor t�y and titte of t e Trustee nameden ho d ed o��ust and of tiny successo trustee.of tho property,shall �•
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<br /> � � � BANREHS SYSTEMS.iNt.ST C10U0.MN 56301�l 80639)236h GORM OC7 MTGNE 8�19•91 _ _ __ j _ '
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