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<br /> �� COVENANTB ��� 1(j�psEj '
<br /> 1. P�ym�nU. Borrower egreee to make all peyments on the securod debt when due. Unless 8orrower and Lender agrea otherwiee, any r:ti�,7'J`�. ___
<br /> peyments Lender receivee from Barrower or ior Borrower'a benetit wlll be appUed firet to any emounte Borrower owes on the aecued debt
<br /> excluelve of IMerest or principal,second to Interest,and then to princlpel.if penial propayment of the ser,ured debt occurs for any reason,it wiil `}�-,�yc;=
<br /> not reduce or excuae eny echeduled payment untll the`ecured debt It pald In full. „ :�;��,�
<br /> Y.Ci�ims Apain�t Titl�•Borrower wfll pa�all t xes,nc'wesemeiits;end other ehergee attributable to the property when du9 and will delend titlo _
<br /> to the properry e gorrower ma�a have agefnit pe�te�who aupplY�abo�o�r materlals to mpr�ave orYmalntoin therproperiyasaiqn any riphts,clelmb o► �
<br /> dofensos whlch B Y �
<br /> � 3. Imunno�. Borrower wlll keep the property inaured unAer terms a�ceptable to Lender at Borrower's expense and for Lender'e benefit.All _: ,. f_
<br /> insurance policies shall includa a standard mortgage clause in favor of Lender.Lender wfll be nemed ea loas payee or as the inaured on eny such
<br /> or to the secured debt�If Lendnrpequlressmortgege P s�u ance�t Borrower ag eies 4o�meintain such ineurancetfor es lonp�as Londare oqufree�pe�y �'t,
<br /> •'•.n�;,t:P�..,
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<br /> . 4.Proparty.Borrowor wlll kaop the propertY in good conditlon and make all repalra reaeonably nbcesaary. ` � :,
<br /> .•�'�""�� g,Exp�ni�s.Borrower agrees to psy ail Lender's expenaes Including roasoneble attorneya'fees,if Borrower breeks any covenan[e���ws dead ._.rx�wr„�-
<br /> . �+M'� of trust or in any obligetlon secured by thie deed of truot.�orrower will pay these amounte to Lender as provided in Covenant 9 of thla deed of ,,=
<br /> trust. i•-•-�
<br /> 4 8.Pdor S�curity Int�n�tt.Unless Borrower firat obtalns Lender'Bs wrftten consent,�orr mongaglen deed ot trust or�other securliY tapreernentr s-=-
<br /> aecurity Intereats. Botrower will perform all of Borrower's obli ations under any p '`.sW,:
<br /> ' Including Borrower's covenants to make peyments when due. ;'•�_-
<br /> � ��::�
<br /> , otheswlsq Innwoi�Rg B°rrower�may ca�lecteand re�talntthoerentstas long8a9 8 0 ower�lstnotp n pdef eult�If Bog orwer�defaultse Leode��lenedere's ,�..9_
<br /> .� agent, or a court appofntod receiver may take possesefon end manage the property and collect the rents.Any rents Lender collecta ahall be �j-��
<br /> � neoeesaryeelat d expenses f'fhe remi eQning amount of renit dwili then applyto payment eon the sec ed debt as provldedlin9C�veneMd,any other �i=
<br /> � a le seholdal�thisddeed of trust is�on a uni�In a�candomWum orea plenned unitmdevelopment p�BurroWer wlll pereform�ell of Borrower's d ties `K�
<br /> �� under the covenants,bylawa,or ropulations of the condominium or pienned unit development. .F�,_
<br /> 9. Authodty of Lsnd�r to Perform tor Borrow�r. If Borrower falls to perfam any of Borrowar's dutles under this deod of truet, Lender may
<br /> � perform the dutles or cause�a discoMin ed or not�cer�ried on in a�reasonable manner,lender may do whetevereis necessary to pro ectle der's �'=�--__
<br /> � constructlon on tha property Thls may include completing the construction. ;_=�'--
<br /> security interest In the property. -�
<br /> Lender's failure to perfarm will not preclude Lender from exercising any of its other rights under the law or tNs deed of trust. !t�
<br /> �� AnV amounts pald by Lender to protect Lendar's security interest will be secured by this deed of truat.Such amounts will be due on demand ��_,��';
<br /> " and will bear intorest from the date of the paymont until paid in full et the interest rate in effect on the secured debt.
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<br /> 70. D�f�ult�nd Acc�leaUon. It Borrower fafls to meke any payment when due or b�eaks any covenante under this deed of trutt or any ���
<br /> ' demand Immedfate peyment nnd maV invoke the power ot sele a d any o her romedles permittod by�applica6le lawurity of the secured debt and `�-_-
<br /> 4 hereRo,et�the address of ee h suehlpersonfees set forth horein,capies of tho notices of defauit and sale be sent to each porson who is a partlr _ __-
<br /> .+ �here�ln th�rrsst QrofpehrtVLor eom�e p rteor percel thereofa�s�situat d atnoti c e�of idefault�ontafninp t fhe info etion irequlred by law. TM Truetse
<br /> T 1 ehell also maii copiee of the notice ot dofauis io it,o 8orrowsr, io aach �:rson whn Ia a party hereto, and to other persons as p�eceribed by
<br /> " � applicabie law. Not lees than one month efter the Trustee records the notice ot default or two �fl0�th6�T th0 trust propariy ie rai in ar,y
<br /> � incorporated city or vlllape and is utod In farming operetiona cerrled on by the trustor,the frustee ahall give publlc notice of sala to the persons
<br /> � and In the qanner pvoscribed by apppiicable law.Trustee,without demand on Borrowner, shell sell thp property at public auction ta�cable9lawt
<br /> " � � Trustee�may poetpone seleaof e�or any pa eeltofttha p operty by publllo ennouncem�ent ai the time and plecee1of anyf pQovlousby acph�eduled sele.
<br /> �' Lender or Its danignee mey purchasa the property at any seie.
<br /> i Upon receipt of payment of the price bid,Trustee shell deliver to lhe purchaser Trustee's deed conveying the pro the proceads�oif�theeale�inthe �-a
<br /> � Trustee's deed ahall be prima tacie evfdience of the truth of the statemente contalned thereln.Trustee shaN app y
<br /> • � reinat/atement fe9sa�lbl to�ali sums secured by this�deeduof�trustuend(c)l h t balence�f eny tlo the peesons IeOally entltled�t r ecelva It.feee and
<br /> �. 13.fonalosun.At Lender'e option,this deed of trust may be foreclosed in the manner provide by appiiceble law for foreclosure of mortgages _
<br /> on real proportV• ��
<br /> �.� 14.Insp�at�on.Lender may enter the property to inspeat it If Lender givea Borrower notice beforehand. The notice must atate tF�e reasonable --
<br /> �i ceuse for Lender's inspection.
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<br /> o6ali�o�eny pan of Bhe property I�uch proceedshwillrbe applied esYprovided in Covenan e1 eThls esslgnment ist subJect tartthe te�ms of any prlor
<br /> � security a8►eomant.
<br /> } 16,Waiv�r,By exercising any remody available to Ler.der,Lender does not give up any rights to later use eny othar ramedy. By not exercising -_
<br /> � any rsmedy upon Borrow9r's defauit,Lender does not waive any right to leter c�nsider the event a defeuit if It happens agaln.
<br /> ' 17. Jofnt�nd S�v�nl Liebilittl; Co-sipn�rs; 5ucc�stors �nd Attipn� 8ound. Ail duties under this deed of trust are joint and aeveral. Any
<br /> � �j Borrower's inte est fn the property to the Tr stee under the t rms of this deed�oS trusbt��naddiUon euch e Bor wei egteea thet tFi londor tand __--
<br /> : debt vhthout that Borrodwerts�con0ent and wfthout eeleasing that�otrowerfrom the torms�ot this deedtof�trust,this deed ot trust or�he secured ='
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<br /> ; I The duties and bonefits of this dood of trust shell bind end bonofit the successors and assigns of Lender end Borrower. ..,�.G,�.x;,
<br /> 18.NoUc�.Unless othorwise required by law,any notice to Borrower ahall be givon by delivering ft or by maiiing it by certlffed maii addressed to ``�_
<br /> I meli to Lender's eddross on page 1 of thfa deed oftrustthortto�any otheraaddr BBtWhich Lend°rrhas deefgo8 ed.Any other notke torlendor�ehaldl ����'_
<br /> � .d:`,•'_
<br /> � bn sont ta Lender's address as stated on pege 1 of this deed of trust. ���,, „',f-.
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<br /> . Any notice shall be deemed to have boen given to Borrower or Londer when given In the manner stated abova. ,T I
<br /> 19.Trensfsr of the Prop�rty or a Benfflciel Intsrsst in th�Borrower.If all or eny part of the propertv or eny interest in it is eold or transferrad
<br /> payment it a e,Borrower f fe not a�natural pereon undda beneticfal enteresP�inmhe Borrohwore�ure ddd�eb1fe^eferred eHuwevere Lander nmay inot
<br /> demnnd payment in the above situations if it is prohibited by iederai Inw as of the dato of this dood of trust.
<br /> 20.Reconveyence.When the obligatbn secured by this deed of trust has boan pald, and Londur has ra further obiigation to nneke advances
<br /> undor tho instruments or agroements secured by this deed of trust,tho Trustee shell, upon written roquest by the Lender, reconvey the trust
<br /> property.Tho Londer shali delivor to tho Borrowo�,or to Borrower's auccessor in intorost,tho trust doed and tho noto or othor o�ndenco of the
<br /> abligatlon so satisfiod.Borrower shall pay eny recordatfon costs.
<br /> 21. Sueeessor Tru�tes. Lender, et Lendcable latw.�a d then by filing the substitution of trustee forrecardtin tho of�f co of the�reg�atopof deeds „
<br /> substitutfon of trustoo as required by app
<br /> . oi each county_in wMch tho trust property,o�somefp hr�t T er�ena em�odainedhe deed of Vu t and of any�succosaorvtrustee.of the poporty, shall
<br /> auecood to au[ne powar,uui�oo,a...�.�•:t:�••-•••- - - - -_---- -
<br /> fpogo 2 0l Il �
<br /> BANKERS SYSTEMS,INC.ST CLOUD.MN GB]Ot 11 800�97 23411 f(1NM OCP MT6 NE 6i1y�91
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