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<br /> COVENANTS r „ ,q,
<br /> 1. P�ym�M�. Bortowor apree� to make all payments on tho eecured debt when due. Unleset Borrower and Lender a�reo otherwiso, any •}'fr
<br /> � peymenta Lender roceivos irom Borrower o►tor Borrower's bennfit wIA be applled fint ta any amou�its Borrowor owes on tho encurod dobt .
<br /> excluslve ot Interest or princlpU, second ta inten the a cured debt le peld In futl�Propeymont of tho aocurod dobt occura for any roason,it wlll
<br /> not reduce or excuae any scheduled payment untl� P „
<br /> 2.ClWau ApMnst Tid�.Barrower wlll Pey all taxel,eetea�menta,a�d other chargea attributable to tho property when duo and will detond titlo
<br /> to the property agalnat any cldm�which would Impalr ihe Ilen oabor�ar mat rlels to impr�ove a mel�tein therproperty.881Qn any nphto,claime or
<br /> defenses whlch 8orrower mty have agalnst pe►tlee who supp Y + •
<br /> l 3. In�urRnw. Borro�ver wfll keep the propeny Ineured under terms ecceptable to Lendet at Borrower's expense and for Lendor's benetft. AII 1 . ,
<br /> Insurance p IICyBAny�insurance�oc eda may bogappllodewlthin LA dereddlecietion o��ether tho roatorAtlon�oe�opeUnof�tho dema0ed proparty r��
<br /> • ; � or to the aecursd debt.If Lendor requirei mortpape In�ursnce,Borrower apreea to malntaln such�nwrence for ne long as Landor raquiro�. . ..
<br /> In ood conditlon and make ell tepairs reasonabiy neceeaary. ' ' ;�
<br /> 4.Prop�rty.Botrower wlll keep the propertY 0 �.�`� �' .'"��'��
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<br /> rr� 6.Exp�nsa.Borrower aqree�to p a y a l l L e n d e r's e x p e n s e s,I n c l u d i n p r e e s o n e b l e ettorne ys'fees, if Borrownr breaks any covenantn in thla dee � 7, �`
<br /> � of trust or in any oblieation secured by this deed of trust.Elortower wNl pay theee amounta to Le n der ae pro�•�d e d i n C o v e n a n t 9 o f t h i s d o o d o f ;Y��;,,�r.�,�s6��
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<br /> 8.Pdor Sscurity Int�n�ts. Unlesa Borrower firat obtains Lender'a wrltten conaent, Borrower will not make or permit nny chengae to any prior 'rq c_.--_-°:_n-
<br /> security Interesta.Borrower will perform alt of Borrower'a obligatlons undor any prior mortpape,deed ot truat or other eecurity agreoment, �,3�-__- _ __
<br /> • Including Borrawer's covenants to make payments when due. ,n"»:.-.�
<br /> � 7.Aa�ianm�nt of R�nu and ProtfU. Borrownr aaelgna to Lender the rents and proffts of the properry.Unlein Borrower end Lender have egreed �J�t.--
<br /> ' �{ egent,yo68 a�cou�rt eppolnted rocel er m�eeYCtekedposses6lon and manage the p orpertyrand�collect the I ent BAny ien selen�der collects shell be ;,;•�,.
<br /> � applied first to the coats of manaping the property, Inctuding court caste and ettorneyn' fees, commisalona to rentel a ente, end any other ;.
<br /> neceseary releted expenses.The remalning amount of rents wtll then apply to payments on the secured debt as provided In�ovenant t. :+.t,�,
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<br /> 8.L��s�hdds•Condomtniunu;P��nn�d Unit D�v�lopm�nts.Borrower agrees to comply with the provisions of eny lease If thle deed of trust Is on '� :� -.-
<br /> a leaaehold.I�this deed of nuat Is on e unit in e condominium or o panned unit development, Borrower wlil perform ali of Barrower'a duties �.,�p=
<br /> under the eovenants,by-laws,or reguletions of the condomintum or plenned unit development. 'T,
<br /> '• � 9.Autho►ity of Unde to Puform for Bortown. If Borrower faile to perform any of Borrower's dutiea under this daed of trust, Lender may .,,S��-V.•-
<br /> perform the duties or cause them to be performed. Lender may sign Borrower's name or pey any amount if necessary for pertormence.If any --
<br /> consuuction on the property la dlacontlnued or not carried on in a reasonable manner,Lender may do whatever is nocessary to protect Lender'B �'� j-.
<br /> security Interest In the property.This may include completing the constructlon. ,.;:_;�..
<br /> 't � Lender's fallure to perform will not preclude Lender from exercising any of Its other rights under the law or tMs deed of trust. ������
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<br /> t Any amounts paid by Lender to protect Lender'e security interest witl be secured by this deed af trust. Suah amounts will be due on dernan
<br /> �� and wlil bear intereSt from the date of the payment until pald In full at the Intereat rate In effect on the aecured debt. �
<br /> 10. D�fault end Aec�l�ratbn. If Borrower falls to make any payment when due or breake any covenants under this deed of truat or any �;� ;f
<br /> oblfgation secured by thia deed of trust or any prior mortqege or deed of trust, Lender may accelerete the maturity of the securod debt and �. < �w
<br /> � demend Immediate payment and may Invoko the power of sale and any other remedles permitted by applicebie Iaw. �s-
<br /> � 11.R�qu�tt tor Notla�of D�f�ult. It Is hereby requented that copiee of the noticee of default and sale be sent to each pereon who Is a perty •��;
<br /> � " — hereto,at tne addrnen oi bdch 6uCh poron,ea e8t f�rtM herein.
<br /> 12.Pow�r of SY�. If the lender invokes the power of sale,the Truetee shail first record in the office of the register of deeds af ench county
<br /> ' hall al6o meil copfea of ihe noUce o defeult to�therBorrowenr�,et e ch pers ndwholisca perty hereto,�a�nd to�otheQperBOns aa p escrbedtby Y`-
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<br /> M1, i appliceble law. Not Iess than one month after the Trustea records the notice ot default or two montha if the trust property la not in any y-_
<br /> incorporeted city or vfllage end Ie used in farming operations cerried on by the trustor,the frustee shall give public notice of sale to the pereons .
<br /> bidder.tlfrequired�bpy tha�umbHomestead Protecti nBAct.Trustoe shalaoHer�therpropertyhn two sepapate eat s es requiredtby eppitceble�law ��,
<br /> P p P reviousi sCheduled sale. �_=
<br /> f' Trustee may poatpone sele of ali or any percei of the ro erty by publlc announcement at the tlme and lace of any p Y _ _
<br /> Lender or Its desipnee may purcheae the property at eny eele. y
<br /> �. Upon receipt of peyment of the price bld,Trustee shali deliver to the purchaser Trustee's deed conveyln1�the (�roparty.The recitlals contained In
<br /> fi= Trustae's deed shall be prima tacle evidience of the truth of the statementa contained therein,Truetee ahell apply the proceeda of the aele in the ��
<br /> � reinst�etement fees��lb)to I�I sumsesecured by thls�deed of�trust end lc)�the�balnnce�If6any,t�o t peesons logelly entitled to recel e�i.fees and
<br /> �� Ilcebie Iaw for foreclosure of mortgages
<br /> �'' 13.Fonclosur�.At Lender'e option,this deed of trust may bo foreclnsed In the menner provide by app �
<br /> �; on reel property.
<br /> s 14.Insp�ation.Lender may enter tho property to inspect ft if Lender gives Borrower notice betorAhend.The notice must state the reasonable -
<br /> r. cause for Lender's inspectbn.
<br /> 16.Cond�mmtlon.Borrower assigna to Lender theproceeds of any award or cfaim for damages connected wfth e condemnation or other taking �_
<br /> � � I oi ell or eny part of the property.Such proceeda will be applfed as provided in Covenant 1.TF�fs assignment is subject to the terms of any prior = --
<br /> security agreement.
<br /> � 16.W�fv�r. By exerclsing eny remedy avallable to Lender,Lender does not give up any rlghts to leter use any other remedy.By not exercising ��,
<br /> � any remedy upon Borrower's defauit,Lender doea not waive any right to Ieter consider the avent a default If it happens agnin. „_„�o..,,
<br /> � 3 17. Joint and S�v�ral 6lebfiity� Co•�ipn�rs: Suaaa�ors snd Aesiynt Bound. All dutlea under thia deed of truat are jolnt and caveral. Any
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<br /> � � Borrower who co-s�gns tMs deed of trust but does not co•sign the underlyIng dobt inatrument(sl doea so only to grant and conve that _A
<br /> Borrowar'a fnterest in the property to the Trustee under the terme of this deed of trust. In aAditlon, such a Borrower egrees that tho Lendor a�d
<br /> � any other Borrower under thia deed of trust may aMend,modify or make any other chenges in the terms of this deed of trust or the secured ,,,. ��
<br /> ' debt without thet Borrower's consent and without reieas�ng that Botrower from the terms of thia deed of trust. .r,.r.; ����R.
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<br /> The dutfes and beneHts of thie deed of trust sheli bind and benefit the auccessors and assigns ot Lender and Borrower. da r�;. .:,I1:-
<br /> ',c,��C�t, r; -
<br /> 18.NoUc�.Unlesa otherwise required by law,any notice to Borrower ahali be given by delivorinp it or by mafling it by certiflud meil oddressed to , Y ,
<br /> Borrower at the property addreas or any other eddress that Borrower has given to Londer.Borrower wlll give any notfce to Lender by certifled •. s�
<br /> � mail to Lender's address on pege 1 of this deed of trust,or to nny other oddress which Lender hes designated.Any other notice to Lendor shali . :�,�
<br /> be sent to Lender's addrese as atated on pago 1 of this deed of trust.
<br /> � Any notfce shall be deerned to have been given to Borrower or Lender when glven in the manner stnted above.
<br /> 19.7ranff�r of th�Proputy or a B�n�flclal Intu��t 1�th�Borrow�r.If all or any part of the property or any interest in it is sald or transferred
<br /> without Lender's prior wntten consent, Lendor may demand immodfato payment of the secured debt. Lender maV also demend Immodiate
<br /> demandtp`aymenB�nrth9eebove situationsrif hes prohibted by federel lawras of the deterof thes dood�of trust�sferred.However, Londer may not
<br /> 20.Reconv�yen¢e.When tho obligation secured by this deed of truat hes been pald, and Lender has no further obligetion to mako advances
<br /> under the Inatruments a ag roomanta securod by this dend of trusL the Trustee shall, upon written request by the Lender, reconvey the trust `
<br /> property.The Lender shell deliver to the Borrowor,ur to Borrower's successor in interest,the trust deed and the note or other evidence of the {{
<br /> � obligation so satisfied. Barower shell pay any recordatlon costs. !
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<br /> I 21, Succssaor Truetee.Lender, at Lender's optfon, may remove Trustee onC appo�nt a succosavr �ruaioo 'vy "'�:, ���o�:���v :• "�"r': • - - �• -� _-_=-
<br /> substitution ol trustao as roquired by opplicablo law,end then,by fNing tho substitution of trustae for record in the offico af tho registor of deeds
<br /> succe d to all tho pohwer�dutiess authoity a d title oft ho Trust 0 118111`6fI It11 aI1B d�6d Of tf SL 811d Of 8ny�auccessorVVustee,of the property,sholl
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<br /> BANKERS SVSTEMS.INC.ST CLOUD.MN 68901 Il 000•797�Y9<11 FOPM OCP MTG NE Fi�19i91 i
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