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<br /> , cov�arrrs a"�� ����a5 `..'. � , ..- - --_
<br /> 1. Peymenb. Bonower agreos to make ell paymonts on the seeured deDt when due. U�fess Borcower and Lender agree oMarvvise, any , , _
<br /> � payments LonQer receives irom Borrowar or for Borrowars tanafit wili be apD�18d ftrst to any amourtts Borcovrer owes on 4he sswred debt
<br /> exctuaive ot irrtorust or prindptil,second to interest,and then to principal.If partia!prepaymerrt of tho sec�ed debt oceurs tor any reason,R wiU • ,�
<br /> -- not•wm,cw t�+wx�ise any eeheduted oavment w�til the sewreA deM te nn'Q ir.h�l. -- - - --__
<br /> 2,Gsims Agdnn Tfti�sfl�o,},ref',�if1 y'�y' �a11. raslsessme�ta,and other charges emibutabla to the property when due and will defend title . . , �T�
<br /> to the qroyerty against*+Y claim�NRd�lf-vtcut�aUThe lian of thia deed of tvs�t.Lender may requi►e eonower to essign any�ights,ciafms or `,��-
<br /> defenses wh�cr B�rcovagt�YM�fH31�jt��suppiy labnr or materiais to fmprove or maintam tfle propartY. _�
<br /> 3.Insu►anco.Bortowar wtll kesp the property inauretl under terms accepmbte to lender at BonoweYs expense end for Lender's benefit.Ail , • �,__�:
<br /> �'` i insurance poticies shatd include e standard mo aga c�ause in fawr ot tender.Lender will be named as losa payee or es the insured on arry sueh
<br /> ' o t�oativ�se��eu ed dabt lf�Londeriequ�ires8mor�sea PAnsurance BoKO vder agrees to maini�aln�such insieir�anc�e for as long as Lender vequlres�oparty
<br /> ' 4.Propsrty.Bonower will keep the property in good conditian and make all reFeirs reasonably necessarY• � , . `. , _
<br /> - � 5.�puu�s.Eorrower a�rees to pay a►1 LenQar's oxy,.ns�.inclutling reasonable attomeys'fees,if Bortower break¢any covena�ls in this Geed _ _ .
<br /> . � ot trust or in eny otfigabon secured by this dead of uust.Bortower will pay tfiase amounta to Lender as providad in Covenarrt 9 of this deed ot ` ._
<br /> tntst. -�• . . •
<br /> � g,pr[ar g�cmfty Irfta�sb.Unloss Banowar first obteins Lenders writte�consent,BoROwer wiil not make or permft any changes to any prior � .
<br /> security interests. Borrower will perform all of Borrowefa obtigations under a�y prior mortgage, deed of trust or other security a3reement.
<br /> �. i including Bonowefs cnvanams to maice paYments when due. :'.` ;. . :
<br /> .-.:i..{.;.�.� .'
<br /> 7,pssJy�ttneiR of Rartb and Prafits.Borrotiver assigns to Lender t#ie rertts and profita of the property.Unless Bonower and Leisder hovs egreed ;. '�� ___,_ _
<br /> otherw�se m vrritirtg, Borrower may cotlect and retain the rents as long as Bonower is not m defauit. If Bonower defautts, t.csndes. Lenders j,-�` j' .,,�,.�;'
<br /> agent,ar a court appoioted raceiver may take possession and manage the property and coUect the rents. Any rerrts Lender collc�ds shal 6e ; 4'•'••°
<br /> �:�;���•r.�i�;t+c�:,. .,
<br /> applied first to the costs of managin�the proparty, inr�ud'+ng court costs and attora2ys'fees, commissions to rerrtal agerrts,and any cttcer :`?'F, !n'� ;• :: °
<br /> , necossary reiated ezpanses.The remam'�ng amouM of ren2s�v�'il then appfy to pay�r�e�^rs on the secured detrt as provided in Covenarrt 7. • r
<br /> .,��u-:..:.�('._.�.
<br /> �. .t 8.������:pj��d Uc�it pM{�rtio.Borrower e to ca� :�asiU�the provisions of any Tea:e if tt�(c deed og uust G an ..~''°Q"'`i"'
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<br /> a teasehd.d.I this deed of trust is on a unit in a eondominlum a�a�d umi�avelopment, Borrower wiil Derform aii af Bartawer's duties . �
<br /> undnr the cnvenartts,by-Iaws,or regutaUons of the condaminlum or pL,rr.re::cr�it devefopmarat. �
<br /> to Pertorm tor Bortowa.If Barrower feits tn�ev`o�any cf 8ortower's duties under thie deed of tru�r, L�+rder may ' , '.�'°i
<br /> � 9.AutAa��c!L�ndv , °..: •�..
<br /> pertortn the Qu4ios a ca:ise tham to be performed. Lender may sign L�rrc�esfe�,',,:,.^tFQ cr pay eny amount if necassary far perfanr.r•r*w.1t aaY ti. ,:. .
<br /> congvuetian on thapreqarty la discorttinued o�not cartied on in a raaserab�manr:es.t�nder may do whatever is neeeasary to proice:tendefs '•5��-�;�r:
<br /> � security interest in the F+rc�erty•This may inciude compteting the consmsc^on. • .
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<br /> " LenQars�h-re tv pesfann wiil not preclude l.endar from exercising r�s�i cf.�othar rights under t4�c��ffee cr this deed of trust �_Y__ y. . ,_ .;$`�'
<br /> �__1 }. 'p.._a�.. .
<br /> - � Any amn•,.mu pa:d iry Lender to protect Le�dafe sewrity frrterest wi(t h-.rV secured by this deod aE+s+�ca:.Sach amourtts wili Ba dwa•�'demand • ���;� N -
<br /> and will ba�r i:�tarest fro:�the date af the payment urt�l paid in fuli at U�a�terest rate in effact on ifx sacured debt ;;s�i��
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<br /> . ''_�� 70. O�t a u 1t end Aeeuiscs�aa- M Borrowar fails to rtt%Pae any paymant when due or breaks any covenar►ts urtder�isi:,dec� aE.TM'�st or anY ��°'"'�;.'°�' •
<br /> dema d immediats pa��and mayvin oke tito Do6wwo-r:���10 ar�d any othert ra e�s perm�itted by�appli of e law�.� �me ceu:c+�,d debt c�d ':. _• �r
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<br /> ' 11.R�ra2 far Notice csf C�fat:it It ia hereby raquested that copies ot the notices of defauh and sats be sent to each person��s a paRy - � • 3 � . .
<br /> hereto,at:t�e ad�ress of each such person,as set forth herein. �-• � � y
<br /> �g,pav►ru c�SaM.:;C�e Lander invokea tfio pawar of sale,the Trustee shaQ ftret record in the oftice of t7ie registar of daeds of each countY _ - �` ' •`,�r
<br /> wherein�se�.�2 Cr�ar':}r some part or parcet thereof is situated a noNce of detautt wrttaining the fnformaUon required by law.The Trust¢o ��,�f .;� •. -;
<br /> shaA ako ma3 x�af'd'�a notice of defauR to th9 Bottower,to each person who is a party hereto,and w other pelrons as p�as�ibad�G "�`�z-`'
<br /> s not in azrN
<br /> appiicabfa�.:.-a•."u=t t:ss^.han ona month aiter the Trustea records the notica of defautt, or two months 'rf the Vust praPertY 1 ,f;'�.,�:
<br /> incorperzCab c:�!ar viiraae end ia used in ferming oneretions earried on by the uustor,the Trustee ahall give pubtic nottce of sale m Yhe peraans •-
<br /> and in t?�.�mannsr prascribed by�apppilca6le law.7�ustee,withaut demand on Bortower,shaA sell the property at pubiic auc[inn Lo t�e highest I'
<br /> • bfdder.if raquitad by the Farm Nomesta.ad Protoction Ac4 Trustee sh�a,?otfer the property in two sesarata safes as required by alIIJli:abte law. ,�e ,_ '. �
<br /> • Trustee c�y 1Ras�one sate of all or emj p�rcei of the property by a+:�liz announcemetK at tho time a.-a�piace of eny prevfousty s���.tad aale. u�"r; �f ._
<br /> , Lender ar i�s dasignee may purchase the�operry at any sate. —
<br /> Upon receipt of paymer�of the price bid,Trustea sha::d�r�er to ttie purchaser Trustee's deed eomreying Me property-The recittals cartteined in :
<br /> Trustee's aeed shali ba�ri�we facie evidience of the u.r'.h of the etetemerius contained therein.Trustee shatl appiy ih��raceeda of tfie sate in ths ; f �
<br /> us �
<br /> followir� ord:r. (a) Ya a11 expansea of the sate, inciuding, but not Iimftod to, reasonabte T►us[ee'9 fees, reasa�ble attorney's fees and _ �_ ;_
<br /> roinstatert:snt foes:t5)to afl sums so�ured by thts deed ot aust,and(c)the balance,if any,to the porsons tegaily eriUt(ed to receNe it. �` .—_:
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<br /> 19,For�.�loro�ua.At Lenders opUon,this deed of trust may be torecic:ad in the manner provido by applicable lew for foreelosav cr esiortgagea
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<br /> ' On real pr�srty 1
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<br /> 14,Insp�etlon Lender ney enter Ma property to Inapect it H Lender givas 8orrower notice�oforehand.The nrstlee must state tG��easonsihle � ___
<br /> cause for Lender's ir..poci+an. �° -
<br /> tg,Co�ttort.Bor.3-.�ver asst ns w Lender the�roceeds of any sw.�rd or ciaim tor damage�s cosj acted w(th s condemnatfon or other takr:� y '•"� ��,,,�,
<br /> of aD or a:ny Oart of the property.�uch proceeds wiil Ce eppNed as C:ov�3zd in Covenartt 1.Th gnment ia subject to tfie terrr.���i any prior �
<br /> , security�.�:emert. ��
<br /> - �'r'-,�AG''�:i_'�-
<br /> 18.Waivrr.By exercising any remeQy avaitablo to Le^�*,S.enCxr Cr�s not girre u,�s esv dr,hts t�tz�er use anY other remeQy.By nai oxorefsfnp � �� ��=-.,
<br /> eny remeQy upon Bortower's defauit.Lender doea nat w�a�ar.y right to later cartsi;Y�r�TMa ovent a defauit if it happens agaM. __
<br /> 17. Joint and S�v� UabiQt!(: Co-al�rtes: Sucuss�a�nd Asalyre�Bound.All Qutlea under thia deed of trust are jairt and sevaral. Aa8 = ---- --
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<br /> Bortowgr wiw co-siyna this aeed of truat but doas nat co-sign C`�e undedvin�debt instrument(s) daes so only fo grartt and eonvey that
<br /> Borrov�B interoat in the property to tha Trustee under the tarma ct�.is QeeQ o trust.in additlon,suct►e Borrower a�ees that�h�e i.snder an0 �' �'�`—
<br /> eny ati�n f��rtowar under thia dee0 of Vuat may sxtend,modi ar mw�ce any other changea in the terms of thls Qeed of trust rr, tlha secured `�•_yy;
<br /> w ut reieasln that a+��n tram the tarma of thia deeA of trust. ��i`�'°_'�'�'' �
<br /> Qebt w.d�it that BonowePa consent and itho p -
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<br /> Tt�e dutios and benefits of thia doed of trust sha0 bind end bonsfii the s.:eeessors and aasigns of Lender and Bonowar. ±:'--`_=s�-;°`_.:�,._
<br /> � 18.Notle�.Untess otherwise reQuUed by law,any noUce to Borrowor ahall be 4�aK-etivedng it or by mai0ng it Dy cerUflod maU addrossed to - -: '�+ '
<br /> � Bomau-�r at the praDertY addresa or any other addrass tfiat Borrower haa alven to tornier. Bottower wftl give any notice to LenQer by cert3fled -� .
<br /> . ,;, mail to Eicndor'e addresa an pape t ot thia deed oi trust,or to any o��er eddress which lsnder has desipnaud.Any other rtotice to Lender shail -: � �.,�: �=�
<br /> ' be cer,R M LenQer's address as steted an page 1 of thia deed of tnist-
<br /> ,;., ��t�tair++
<br /> A..ry r.r�.e aheil6e deemed to have 6onn piven to Eor.:vle►or LenQer►,r'en given in L}�.a manrter v�tmd above. �±�.,� `� ��- �
<br /> ; �::`y�`{,�;��. —
<br /> �g.��,st��p}�pr�y w a B�twfl�lal U�brss:4n 2ha BorrowN.if all o�ar d�,�t of the prape or erry int�re3[in it ia sold or transtoered .. ..:-:a...�-...�. :
<br /> rty t�r
<br /> v+�:��t 6ersdeYs prlor written conserrt. Lender maf 4iomand imme�late paymer.4 e'. tho aeeured debt. LertCer c*�y atao demand immediat» , - :-
<br /> pay�.�;t It the Bonower is not a natural person an0 a Oenefiaal'vrerest in�:e I3arrower is sofd or transtened. kawover, Lender may nc! . . ,�">>:
<br /> deny-ai p.►fm�nt in tha ahove sl�atlona i}it ia prohibited by toCcrEE Oew es of tho da:e of this deed of uust. ,
<br /> • 20.F�r.vrvayenes. When tho obligation secu�ed by thia deed af r.:ss has boen pald and Londer has no turther obiigation ta r.�tce aQvances � , : `�,,,��
<br /> • pro peerty��Tt�e�nder shali Eeeiver�t�tlie Bortowerthor to Bonow rs successoreinsn�es�t�,the uiust deeA a^dthe note or othe�r o.�3enee ofL,e • � ---
<br /> ' oblipaticn so 8atistied.Borrower ehall pay any rocordaUon coste. '
<br /> 21. Suee�uor Trustt�. Lender, at Lender's o Uon, may romove Trustee and appoint a successor trustoe by first, maiiing o ccpy a1 r,rr . . ��.���
<br /> • substit_+ir�n of trustee as requirod by appticable Paw,and then,b+/fiiirt�tho substitution of trustao tor reeord in the oifice ot tho ra��s'.er ot des.'r •
<br /> o!eacc�a�unty in which the trust Oroperry,or some part tAereof.�s a'2uated.The successor trustee,without conveyance of tY.rt�-aperty,shall '.. � �_.
<br /> . suc�:eo�to ail the power,dutiee,uuthority and t�tta ot the Trustee na�od in the deed of trust and of any succossor trustee. '";� ' , •�-
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<br /> . IPage?ol?J . � �--
<br /> � BANKERS SYSTDNS.INC..5T.CLOUD.MN 68301 11-80p�3f17•Y.i�tl iOFVH OCP-MTG-NE 8f19191 � � �
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