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<br /> COVENANTS �. A�� '�����9� �
<br /> 1, p�ym�rtn. Borrower epree�to make all paymente on the secured debt when due. Unles� Borrower and Lendor epree otherwlsa, any �,
<br /> paymento Lendor recelvel from Borrower or Tor Borrawer's benefit wlil be applied firat to any amounts Borrower owee on the eecured debt ^
<br /> nxct��slvo of intorost or principel,gecond to intmest,snd then to princlpai.If pertlal prepeymant of the eecured debt occurc for any reaeon, It wllt
<br /> � not reduce o►excuse eny echaduled peyment until tha secured dedt is paid in fuli. -
<br /> 1 2. CINms Ap�imt TItl1. 8orrower wlll pey nll tex�a,asee�amunts,and othar charqos attributable to the property whon due end will defend tltie :_
<br /> I to the property�peimt any alehns which would imp�ir the Ilen af thic deed of truet.Lender may iequire Borrower to assipn any righta,claims or
<br /> defemea whieh 8orrower mby heve agalnat pertlee who eupply labor or materiels to Improvo or maintain the praperty.
<br /> I3. Iniunna�. Borrower wlll keep the property Insured under term�acceptablu to Lendnr at Borrower's expenso and for Lender's beneflt.All
<br /> � insurance policle�sh�A include e stmdard mortgage cleu�e in favor of Lender.Lender will be named e��ou payee or as the infured on any tuch
<br /> � Insuranae policy.Any inswsnce proceeds may be applied,within Lender's dlecretion,to either the restoretlon or repair of the damaged property
<br /> ' or to the aecured debt.If Lender requires mortgage inauranco,Borrawar agroos to mnintain such Insurance for as long as Lender requirea. i
<br /> I 4,prop�rty.Borrowa wlll keop the propnrty In goad canditlon and make ail repalre reasonabiy necessary.
<br /> � , I 6.Exp�m��. Borrower aqreos to pey aIi Lender's expenaes,fnciuding reasonable attorneys'feea,if Borrowet breake any covenants in this deed
<br /> of ttuat or In any obapatbn secured by thia deed of truat.8orrower wfil pay these amounta to Lender as providsd In Covenent 9 of thia deed of
<br /> � trust. : .
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<br /> 8.P�lo►S�aurity IntN�sU.Udess Borrower firet obtaina Lender's writtan consent, Borrower wiil not make or permit any changes to eny pr or ��.,
<br /> securlty Intereete. 6orcowor wfll perform all of Borrowar'a obligatlans under any prior mortgege, deed ot truat or other security agreement, t ,,,;,�,.
<br /> including Borrower'&covenantt to meke paymeMs when due. ;•.=��+L rn.•
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<br /> � 7.Attipnm�M of R�nta md Proflu.Borrower assigns to Lender the renta and profits of the property. Uniesa Borrower and Lender have agreed „ .,;_,�;�-_� _
<br /> otherwise In writinp,Borrowa may coilect and retain the rents as long ae Borrawer is not in default. If Borrawer defaults, Lender, Lender'e
<br /> � apent, or e court appointed receiver may 4ake posaoselon and menage the property and coliect the rents. Any renta Lender collects shall be ,_
<br /> 'I applied first to the costs of managing tha property, including court costa and attorneys' feos, r.ommisaiona to rentel agents, and any other _
<br /> • neceasary releted ezpenses. The remeining amount of rents wflt then appty to payments on the secured debt as provided in Cavenant 1. , ,��
<br /> ° 8.L��s�hdds•Condominium�;Piann�d Unit O�vdapm�nu.Borrower agrees to comply with the provisions of any lease if this daed of trust Is on
<br /> i underthe�covenants by lewe or regulet�ne`of the eonddom�in�ium or pianned unit developmentnt,Borrower v�fll perform all of Borrower's duties .
<br /> � 9. Authaity of L�nd�r to Pxfo�m tor Borrow�t. If Borrower falls to erform any of Borrower's dutlea under this deed of truat, Lender may ��: .
<br /> fperform tha dutles opr cauae them to be performed.Lender may sign�orrower's name or psy any amount if neceasery for pertormance.If any . :�.Y., .
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<br /> securfty interest inethe propert/aThis�mey Include completing the constructonm�nner,Lender mey do whatever ia neaessary to protect Lender'a : ;L
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<br /> � Lendor'e failure to perform will not preciudo Lender irom exercising any of its other rights under the law or this deed of truat.
<br /> Any amounts paid by Lender to protect Lender's security interest will be secured by thie deed of trust.Such amounts wfll be due on demand
<br /> •� j antl wfll bear Intereet from the date of the peyment until pafd in fuil at the interest rate in efiect on the secured debt. --
<br /> �� "�% 10. D�fauft �nd Acc�t�ntlon. �f Borrower falis to make any peyment when dua or breaks any covenants under thls deed of trust or any
<br /> t obifpation secured by thls deeJ of trust or any prior mortgege or deed of trust, Lender may ac ylepPe t�he maturity of the seeured debt and � ` ' �.
<br /> demand immediate peyment md may invoke the power of sale and any other remedies permitted b e Ilc ble lew. ✓r�;; ,
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<br /> ( � 11.R�qwst tor Nodc�of D�fauh.It Is hereby requested that copias of the notices of default and sale be sent to each peraon who la a party ..���;; �
<br /> i � hereto,at the add�ees of each such pereon,as set forth herein. . '�. �.
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<br /> 12.Pow�r a!S�t�.If the Lendet�nvokes the power of sele,the Truatee ehall first recotd In the off�ce of tha ragiater oi daede ai eacF ccusst{ — - '
<br /> �� whorein the truat property or some part or parcel thereof Is situetad e notice of defeult containinp tha information required by lew. Yhe Trustee �y�
<br /> " S shall also mell coples of the notice of default to the Borrower,to each pereon who la a party hereto,and to other persons aa preacri6ed by �f,,
<br /> � applicable Iaw.Not lese then one mont h e f ter t he Tru s t e e r e c o r d s t h e n o t i c e o f d e f e ul t or two montha if the trust property la not in any ,.:
<br /> Incorporated city or villape and is used In farming operations carrled on by the truator,the'�ruatee ehaii pive public notice of sele to the pereons ,
<br /> and in the menne►preaulbed b y eppplicable law.Trustee,without demend on Borrower,ahall aell the ptoperty at publlc auation to Ilonblelew %
<br /> bidder.If required by The Farm Homoatead Protactlon Act,Truatee shall ofter the property in two saparate seles as required by app r
<br /> Truatee may postpone eele�cheae the proce��fat en rsele�by public announcement at the time and place of any previously enheduled sale. ��
<br /> Lender or Its des(gnee mey pur P nY Y 7�
<br /> Upon receipt of paymant of the price bid,Trustee ehall deiiver to the purcheeer Trustee's deed conveying the property.The reaitlals contalned in
<br /> • Trustee's deed shal be prima faeie evidlence of the truth of the statemente contafned therein.Trustee ehali apply the proceada of the sele In the
<br /> * � refns aitemef t foose1lb)to�all eums ceeurod by thfe�deed of�trust uand(c)�thet balance 8if any,t�o t o peraons legally entitiod�tor ecelve�i,feee and �_
<br /> 13.Fonclosur�. At Lender's option,thla deed of trust may be foreclosed In the menner provide by applicable law for foraclosure of mortgages =-�___
<br /> • on real property. -°A4-�"°""`.
<br /> ' 14.In�p�otlon.Lender mey enter the property to Inspeat it If Lender gives Borrower notice beforehund.The notice must state the reaeonable ...
<br /> . i cauee for Lender'slnspection. E_�.-
<br /> ' I 16.Cond�mnsUon,Borrower asalgns to Lender tha proceede of any award or claim for dama�ges conneatsd with a condemnation or other takinq e��v__
<br /> � i ot all or any part of the property,Such proceeds will be appiled as providod In Covonant 1.This esaignment is subJect to the tetms of any prior a,._� _
<br /> y ; sewrity epreement. �ry''�"�`"_-.
<br /> C 18.Wrwr.8y exarcieing any remedy available to Lender, Lender does not give up any righte to later use any other remedy.By not exercising �;�—_�
<br /> � ' any remedy upon Borrower'e dofauit,Lender does not waive any right to later�onsider the event a default if it happens again. _'t.,,�;;„�,T
<br /> 77. Jdnt �nd S�wral LiwbYit�►: Co-sipn�rs; Suco�swn �nd A�s�pns Bound. AII duties under this deed of truat are Joint and several. Any ��v ����
<br /> Borrower who co•�Igns thla eed of truat but doea not co-eign the underlying debt instrumentls) does so only to Uront end convey that °___
<br /> Borrower's interest in the property to the 7rustee undar the terms of th(s deed of trost.In addltlon,such a Borrower egrees thet the Lender and 4�
<br /> any other Borrower under this doed of truat moy extend, modlfy or make any other changes In the terms of th{s deod of trust or the secured '�������� -
<br /> I debt without thet Borrower'e coneent end without releeaing that Borrowor from the torms of thia deed of truat. -�y�.�j; ,
<br /> The dutles and bonefita of tNs deed of trust ahall bind and benefit tho successors and assiQns of Lender and Borrower. :�'-x :; �
<br /> � 18.NoUc�.Unlese otherwise requlred by law,any notice to Borrower shail be qlven by doilvering it or by mailing it by certiflAd mafi addressed to � .
<br /> Borrower at the pro erty address or any other addresc that Horrower has given to Lender. Borrower will give any notice to Lender by eertffled �_
<br /> mall to Lender's �eaa on page t of thia deed of trust,or to eny othor addresa which Lender hes designated.Any other notice to Lender sheil . '^
<br /> . J be sent to Londor'e rddresa es atated on pege 1 of thfs deed of trust.
<br /> � Any notice ehall be deomed to have boon given to Borrower or Lender when gfven in the manner stated above.
<br /> 1 19.Tr�nsf�r of th�ProP�rty or�B�n�ftcl�i Int�nst in th�Borrow�r.If all or any part of the property or any interest in it Is sold or transterred
<br /> wlthout Lender's prior wrinen conaent, Lender may demend Immediate payment ot tho eecured debt. Lender mey also demond Immodlete
<br /> ; demandtpeymene o the abova situations f ites p ohibted by foderal lawras of the dsterof his deedlot trust naferted. Howovet, Londor may not
<br /> 20. R�conv�y�nc�. When the obligation aecured by thia deed of trust has been paid,and Lender hos no turther oblfgation to make advances
<br /> under the instrumenis or agreements secured by this deed of trust, the Trustee sheli, upan written request by tho Lender, reconvey the trust
<br /> property. The Londer shali deliver to the Borrower, ar to Borrower's successor in interest, the truet doed and the note or other evfdenco of the
<br /> obligation so satis(ied.Borrower shall pay any recordatfon costs.
<br /> o, Q.....�..,,. T��.�.. �w,rtpr. at lander'R ootion, meY remove Trustee and appofnt,a successor trustee by first, maiiing a copy�o�i t�e
<br /> substitution of trustee as required by applicable law,and then,by til�ng the subst�tuiion oT truscoe ivr rncv�d i��i��a�7t�ca at::a:�;,Eo:�:o....,...- - _
<br /> of ench county in which tho trust property,or some part thereof,is situatod.Tho successor trustee, without conveyanco of the property, shuli
<br /> succeed to all tlia powor, dutios,authonty ond title of the Truatee namod in thu deed of trust and of any successor t�ustee,
<br /> lpego 2 of 71 �
<br /> • BANKERS SV5IFMS.WC .ST CLWD.MN 6G301�1 800 397 23d11 FORM OCP MTO Nf ti��9 97 . �
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