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<br /> ; �� ' A ��,
<br /> ' COVFNAN78 �v— �nn�7S8 �:_
<br /> ' � 1, p�ymmt�. Bnrrower �preet to mske�II ��ymenu on the ter,ured d�bt when due. Unleu Oorrower and LenAnr �pren othnrwlte, Any �
<br /> ' payment�Lendn recelve� Irom Borrower or or Borrowcr'• benefit wlll b� applled fint to eny emount� Hnrrov+or owua a�� tlie aocurud deUl
<br /> � not riduce or�excu�s�nyl�aheQulsd p�ym�nttuntll theni curod debtrlilpsld In fullfl�p�opaymont of tho eecured debt occure lor nny raeeon,it wlll
<br /> Z.Cl�im�Ap�imt TI w.11r►(IOwe�+wlN pey�alt.t�xis,.Mie smsnte, and other charpe�attributable to the property when due end wlll defend title
<br /> � to the property sp sin t�ny cla�ms Kq�iphY�uld�►np��r th Il�n of this deed of truat.Lender mey requlre Borrower to+�esipn eny rlphte,cislms or
<br /> defenfes whtch Borr wer�laY�haye apalntt p+n�e�i!y�q pply labot or metetlela to Improve or melntain thn property.
<br /> � 3. Imu��na�. borro r'witl�keep the props►ty inwvsd u der term� acceptable to Lender at Borrowor'a expense and tor Lender'n benefit. AN �.�
<br /> � insuranee poilelea ehell Include e standard monpege eiaute in tavor of Lender.Lender wlll be nemed en loss peyee or aa tho insurod on eny eueh
<br /> i�curanca Dollcy.Any tnsuraneo prnarteda mey 6e epplled,wfthin Lender'e diacretion,to elther the restoretion or repafr of tha dameped property
<br /> or to the secured debt.If Lerder require�mortBaye Inauranae,Bortower ayreee to malnteln euch Insuranco for as long ae Lender reqwras. .•-:
<br /> .n.�.� �'
<br /> , 4.Propsrty.Borrower wlll keep the property In gaod conditlon and make all repeirs reasonebly necessary. �• �
<br /> w�� • 6.Ex��ns�a.Borrower agreea to pay all Lender's expenaes,including reasonable attorneys'fees,It Borrower breaks any covenents in this deed �r
<br /> .i""""""�� ot truat or In any obiigatlon secured by thie deed ot trust.Botrower wfll pny theee amounts to Lender as provided in Covenant 9 of this deed of °'
<br /> trust.
<br /> � 8. Prlo►St¢u�ity Int�r��t�. Unleae Borrower first obtalns Lender's written coneent,Borrower will not make or permit eny chengos to uny prior
<br /> ' � security intereats. Borrower will porform nli of Barrower's obligationa under any prior mortgage, deed of truat or othar eecurity egreement, �_
<br /> tncluding Borrower'a covenentt to make peyments when due.
<br /> � 7.Aut�nm�nt of R�r►ta�nd Profits.Borrowor aesipns to Lender the renta and proflts of the property.Unlesa Borrower and Lender have agroed
<br /> � otherwise in writinq, Borrower may collect and retaln the rents as long as Borrower is not In default. If Borrower detaults, Lender, Lender's
<br /> agent, or a court nppointed receiver maY take possessfon and manage the property and collect the rente.Any rente Lender collecte ehail be
<br /> � applled first to the costs of inenaging the propsrty, Inciuding court costa and attomeye' fees, commissions to rental agente, and any other =_
<br /> F! necessary related expensea.The remeining amount of rents wlll then apply to paymenta on the secured debt as provided fn Covenant 1.
<br /> ,'�� 8.L�as�holdr CondamiMumt:Pl�nnad Unit O�vNopm�nts.Borrower agrees to comply with the provislona af any IeASe if thls deed of trust is on
<br /> S, a Ieesehold. 1�this deed ot trust is on a unit in a condominium or a planned unit devebpment,Borrower wili perform alt of Borrower'c dutien
<br /> �. under the covenante,byIawa,or reguletions of the condominium ot pianned unit development. ��
<br /> � 9. Authorfty of L�nd�r to P��fotm for Borrowa. If Borrower fells to perform any of So►rower's duties under this deed of trust, Lendar may
<br /> perform the dutiea or cause them to be pe►formed. Lender mey sign Bortower's name or psy any amount if necessary for performence.If any `
<br /> ' conetructlon on tha property ie diacontinued or not carried on in a reasonable manner, Lender mey da whatever Is necessary to protect Lender'a .
<br /> . � security intereat in tha property.Thfa may include completing the constructlon.
<br /> �: � Lender's fallure to porform will not preciude Lender from exercising any of Its other rlghts under the Iaw or this daed of trust. __
<br /> Any emounts paid by Lender to protect Lender's security intereat will be secured by thts deed of trust. Such amounta wfll be due on demand
<br /> and wi116ear intereat from the date of the payment until pafd In full at the interest rate in effect on the secured debt.
<br /> � 1U.D�f�ult and Aca�l�ntion. If Borrower falis to make any poyment when due or breaks eny coven�nts under this deed of trust or any
<br /> oblipetion secured by this deed of trust or any prior mortgage or deed of trust, Lender may accelerate the maturity of the secured debt and
<br /> . demend Immedlate payment and may invake the power of eale and any other remedies permltted by applicaNe Iaw.
<br /> � 11.R�qu�at for Nodc�of DN�ult.It is hereby requested that coples of the notices of defauit end sale be eant to each person who is a parry
<br /> he�eto.at the address of each such person,as set forth hereln.
<br /> 12.Pow�r of Sat�.If the Lender invokes the power of sale, the Trustee shall first record in the office of the register of deeds ot each county
<br /> whereln the truat property or some part or parcel thereof is situated a notice of default conteining the in}ormation roqufretl by law.The Trustee
<br /> ahall elso maii coples of the notice of default to the Borrower,to eech person who is a perty hereto, and to other peraons as prescrlbed by
<br /> appNosblo law. Not less then one month after the Trustee recorda the notice of default, or two months if the truat property Is not in eny
<br /> � Incorporeted city or vfilage and Is uaed In farming operetlone carrled on by the truator,the Trustee shall give public notice of sale to the peisona
<br /> and In 2he menner preacribed by�appplicabte lew.Truatee,without demand on Borrower,shell sell the property et puNlo auatlon to the hiphett
<br /> bidder. If required by the Farm Homestaed Protectlon Act,Truetee ehali offer the properry in two separate sates es requirod by appllaable taw.
<br /> Tru�tea msy postpone esle of elt or any parcel of the property by public announcoment at the t(me and place of any prevlously schaduled aaie,
<br /> . " Lender or its desiynee may purchese the property at any sele.
<br /> Upon recelpt ot psyment of tho prlce bld,Truetee shall deliver to the purcheaer Trustee's deed conveying the property,The recitiali conteined In
<br /> � Truetee'e deed ahall be prime facfe evidience of the truth of tho statementR contafned therein.Truetee shatl apply the proceeda of the sele In tM
<br /> � � tollowinp order: (s) to all expenaes of the cale, including, but not Ilmited to, reasonabie Truetee's fees, reason�ble attorney's fees and
<br /> ��, reimtstement feee;(b)to all suma sacured by this deed of tru4t,and(c)tha bainnce,if eny,to the persons Iegaliy entitled to recelve It.
<br /> 13.Fonalosur�.At Lendet'e o,tion,thle deed of trust may be forecioaed in the manner provide by ep�licable 18w for foreclosure ot mortgeye�
<br />_ un real property.
<br />= 14.(nsp�aUon. Le�der mey entor the property to inspect It If Lender gives Borrower notice beforehand. The notice must state the reasonable
<br /> ' cauae for Lender'e Inepectlon.
<br /> 16.Cond�mn�don.Borrower essi&ns to Londer!he�roceeds of any award or claim for demeges connected with a condemnation or other tekinp
<br /> of all or eny pert of the property.Such proceedo wfll bo appiied as provided in Covenent 1.This assignment is eubjoct to the terms of eny prlor
<br />- socurity cgreement.
<br /> 18.Waiwr.By exercising any remedy available to Lender,Lender does not give up�any rights to later use any other remedy. By not exercistnq
<br /> any remedy upon Borrowor's default, Lender doea not waive any right tu later conafder the event e defeult If it happens agaln.
<br /> 17.Jdnt �nd S�v�ral Liability Co•slym►s; Suacesaon and Asstym Bound. All dutles under thia deed of trust ue jolnt end several. Any
<br /> - - -� Rnrr�Wer who �n•alnna thie deud of truat but does not co•sign the underlyIng debt instrumentls) does so only to grant and convey thet
<br /> . ,� • � jj� Borrower's interest in the property to the Trustee under the terms of this deed of trust.In addition,auch a Borrower agrees tiiet tha Lnndnr nnd
<br /> j �� any other Borrowor under this deod of trust mey extend, modify or mako any other changes In the terms oi this daed of trust or tho secured
<br /> dobt without that Borrower's consent end without releasing that Borrower irom the terma of thla deed of trust.
<br /> p Theduties and benefits of thla deed of trust ehaii bind and benefit the successors and asslpns of Lender and Borrowea __
<br /> � S 18.Notico.Unless otherwise required by law,any notice to Borrower shall be given by delivering it or by maUtng k by certified mall addrossod to -__
<br /> Borrower at the property addresa or any other addreas that Corrower has givon to Lendor.Borrower will give any notice to Lender by certffled --
<br /> i mell to Lender's eddresa on page 1 of th�s deed of trust,or to any other addross which Lender hes designated.Any other notice to Lender shall
<br /> - be sent to Lendar's uddroes ea stated on page 1 of this doad oi trust.
<br /> Any notice shall be deemod to have beon given to Borrower or Londer when givon in the mannor stated ebove. r
<br /> 19.Tren�f�r of the Property or a Beneficiei Int�rest In the Borrower.If all or any part of the property or any interest in It Is sold or tronsforrod
<br /> - without Lendor's prior written consent Lendor may Aemand immedfate payment ot tho securod dobt. Londor maV also domond fmmedfato
<br /> puyment if the Borrowar Is not u natural person and e bonoficial interest in the Borrower ia sold or trensferred. Howevor, Lendor mny not
<br /> � domand payment In the above situationa if it Is prohfbited by federal lew ac of tho dete of this daed of trust.
<br /> - 20,Reconv�yence. Whon tho obligation secured by this dood of trust hes boon pald,and Londer has no further obligation to m»ke advancos
<br /> j undor the instrumonta or agreements aecurad by this deed of trust,the Trustee ahail,upon written request by tho Londor, reconvey the trust
<br /> � property.The Lendor shall Ueliver to tho Borrower, or to Borrower's successor fn interest, the tnist deed and the note oi other evidence o!the
<br />- � obligatlon so satisfied.Borrowor ahall poy any recordation costs.
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<br /> � -i Zl. .1'UCCes60! INSAC. L6nO6f, at LVlxlttf o Vpuotq me �ouiuvo i�ua�ao anu apMv�u� o e.. ao.n •. o � o•. � u�b v ..y�
<br /> substitulion of trustoe es requlrod by applicable Inw,and t en,by tiling the substftution of trustoo for rocord in tho office of the rugfster of doods
<br /> ` � oi each county in which the trust property,ar some part thereof, is situnted.Tho successor trustee, without conveyance ot tha property, shall
<br /> ' succoed to all tho power,dutles,authonty and title of the Trusteo named in the deed of trust and of any successor truetee.
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<br /> I BANRERS SVSTEMS.INC..ST CLOVD.MN G0301 tl�800�97-23a11 PORM OCP MT6�NE 6/19�91 «
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