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<br />_ .,..1 _�.�w � - _ - --
<br /> . I ����4B���+� � _ ," - -.::t�
<br /> cov�awTS .
<br /> . . . �.�
<br /> � I 1, Papnsms. Bortowar agrees to make a�l paymeMa on the securea debt when due. Un!ess Bonotiver and Lender agroe oths�►wise. onY •• • • �''�
<br /> paymerrts Lender rocoivea hom Borcowar or for 6ortower's bsnef'rt wiil be aAD��e��rst to any amounts Bartowar owea on the secured debt _
<br /> j exGusrve of mterest or principat,sacond to�te�.�ansetchu�ed debt�a pa�id in fu(l81�repaymert of the secured debt oceura for any ronson,it wd� ,�.-
<br /> 9 not reduce or ozwse any eckada:ed PaY�. ,� ,b o • '<�'
<br /> � � � ` ' � � � ea, sessmenis,and othe+eharges ettributaAlo to the property when duo nnd wilt dafend title
<br /> :� 2.Ctalms Aq�nst T�ftl.�orrowet�er �1E_� � p-
<br /> to the propeRy agains� �s�aa urh nau! ��ii�! �e lieo of this deed o!ovst•Lander may requlre 9oarowar to aseign any Nghta,elalms or
<br /> i defenses which BoROwe�r��Vd'�. $,.'F°°g�������o suppty labor or materials to imptova or mamtain the proDs�'�Y• ,
<br /> � � 3.Insuranu. Borrower witl keep tho property insured under terma acce0tabta to LeRdar at BortoweYs expense and for Lender's banofit. All � _��
<br /> insurance peticies shall ineluds a standard rt�o►tgage claues in favor of Lender.lender will be namtd as toss payee or as the�naured on any euah ' .�
<br /> �, i insurance policy.Any insurance proceeds may be applied,within Lender's disaetion,to eith0�the rastorotion or repair ot the damaged praperty
<br /> _ _ or t�ttt��ecured dsbt.lt Lender requires mortgage insutence,Borcower agreee to mainta(n such insuranee 4or as long se Lender raqwres. �, . — ,
<br /> - In ood conditio�and make all repaUs reasonably nscessarY• � -.
<br /> � 4.Property.Borrower will bcaep the ptopertY 8 � � .�
<br /> � b,Enpsnsaa.Bor►ower agrees to pay alt Lender's expenses,including reasonabfe attorneys'feea.H 8orrower breaks any covananta in this deed �, , _
<br /> . o}�q�or in any obfigation secured by this desd of uust•Banower wHl pay these amounts tn Lertder as Orovided in CovenaM 9 of this deed of , � :'i
<br /> � ��- rio� f. .
<br /> . 6.Pirior iS�e�e�i��Bo�n weu will per�[orm allfiof BoRO�wers obI'v�atio�nseu dar any prior�or tgage�deed o4�tr st or other securitY a�emont, �
<br /> security now _ � . ' •'•
<br /> - ' ineluding Bortower's covenants to make paymenta whan due.
<br /> .``.� 7.Asai�nmerrt ot R�rrts aed Proftts.Bortower assigns tc Lender tha rems and profits of the propa►tY•UNess Borrower and Lender have s9read .. i
<br /> otfienv�se in wriUng, Bortowor may collect and reta(n the rema as long as Borrower is noi in default.If Bortower defautts,Lender,Lender's ..�,�„_
<br /> app11'm"ad first outhe A stseof rmanagirtq ethe proD nY.�dudengd wurt 9w�and patt meys cfees, comm s ons io rrenta agents, and any o�ther --- _
<br /> . � necessarV related expenses.The remaming amount of rams will thsn apply to paymerrts on the secured de6t as provided in Covenant 1. •'•-.:•
<br /> 8.V������:p��ta�d Unit dsv�lopr.�rKS.Bortower agrees to comply witl�the prov'u^ions of 2.Yg�ase if this deed of ttust i>c:� �-
<br /> •. -�--_r
<br /> a Ieas;.hold.(f this daad of vust ia on a unit in a condominium or a planned unit davelopment,Barrowe►wn1 perFarm afl of Eartower's du`4zs �,t�-•:-;;;`—
<br /> ' ' und2z�a covenartts,by-lawa,or regulations of the condominium or ptanned unit developmerrt. , "!�'. •
<br /> : ��'�`
<br /> g,p�,�rity of L�nd�►to P�r[orm toT Botrawer.If Botrower fz's ta perform any of BorroweY's tuties u�dar this deed of tz�-st. Ler�der rte._�ic s'•�� �'�.•�
<br /> perform the duties ar cause them w 6e performed.Lender ma�s'rgn Borrowers name or paY any amourrt if necessary tor perfortnance.If arty �-�.._.
<br /> conswztion on the proparty is disconUnued or not cartied on in a reasonabte manner.Lender may do wha4ever�s�ecessarv to protect Lendefs � �.�"_',
<br /> � � security iMerest i�the proparty.This may include eompleting the constructlon. � �"--°'TM-�- - _
<br /> • �., .
<br /> I�� Lenders tailure to perform will nat predude Lender from exercis(ng any ot its otl�ri3hta undar the law or th:s��ed of trust. � . ,, � �,� � --
<br /> 9.:
<br /> Any amounts paid by Lender to protect Lender's security interest will be seafefl bY?�is dead of tnut Such amounts will be due on damand ' �' +' "_`'
<br /> a r i d w i U D e a r i�t e r s s t f r o m t h e d a t a o f t h e p a y meM u�Ul p ald in tutl at Me iMerest rate�n eNect on the secured dabt •N� ,
<br /> .: �:
<br /> 90. Dsfautt and AecdH4Uoo• �f BoROwar fasls to mmangageDor deed ofhVUSt.�enQe�may ac 91erate the�^31u�nY of the secured�debt and �"`-, •~ {.����
<br /> obli�atlon secured�6 this desd of trust or any prSar � i;; :.•- -:.
<br /> ' demand immediata��v�nent and may invoke the pen��of eale and any other re:na�ts partnitted by apD��caE'e tsva�. :.-�, � ,., p,; �
<br /> ��.g,�y�}pr[��N ot Q�fa��It is hereby requasiad d.at copies of tha notices of Qefautt and sale be s�:�':ta each person wiio is a pa�p , . '"3;};':;
<br /> harata,at U►e addrese of eacfi such Person,as sat fa-Lh�erein• �s��'-'� �_ , ,
<br /> _;;4;,'_;�'.1j_� �' "
<br /> 12.Powu of Sd�.If the or some part orh a oeiVthereot is situated a noticelot detautt contane otAe nformation equ�ed by aw TA Trust e e ':;��;L ,:�• �
<br /> whereM the wst property V rr� • --
<br /> � shall also mail copiea of the notice of defauit to ct:e Bottower,to each person who is a party he%ato,and to ather persons es prescribod by ;,� � —
<br /> eDD�ipEte Iaw.Not less than one month after t�.a Trustee recorAs the notice of detautt, or two montt�s��t1►e trust Droperty is not in any ;,,; ��_
<br /> incorporated cfty or village and is used in tamsiag oDarations earried on by the trustor,ffie Truatee shall e�va D�tic notice of sate to the peraons : y, .�:�k�,..
<br /> and in the manner prescri6ed bV appplice6te law.Tcustee,without demand on Borrower,aha11 sell the prcDzrnl ai publia auctton to the tilghest _.. ;�,.;�,. —
<br /> bldder.If requlred by ths Farm Hcsrastead Pro:�aatlan Act,Trustee shalt offer the property in two sepata:e sa:es es requ'ved by appticabte Iaw. , . • ,, ,
<br /> � •
<br /> Trustee may postpone sate of aIl or aay Darcel of the O�aGerty by public announcemeM at the dme and plaee of any prevlouely scheduloA eate. , .4y:r; , ,_
<br /> Lender ar its designee mt►y purchase tha property at any sale. �'� '� •
<br /> .,;,;<<.,...
<br /> � Upon recetpt of paymern of the prlce bld,Trustee shall deliver to ths purchaser T►ustee's deed convaying the property.The�eciUats contalnad In ��.fi,:,. � � ��,, :=i
<br /> 7rustee'a deed ahall be prima facle evidience of�`:s vuth of the stetemants cantoined theteln.Trusiae aha0 a,Atv the proceadm of the saSe in the � , _
<br /> tollowlnp order. (a) to afl oxpenses of the sala, includine, but not limited to, reasonabte Trustee's fees, reasonable attomey's fees and ,,,4r_
<br /> relnatetemerY.fee8:lb)to all sums secured by thta deed of trust,and(cl the balance,if arry,to ths peraons�eSa1M1j entiUed to receive IL . ��r.�
<br /> ' � .-,,+�.,._�.,•
<br /> 13.Fanefosun.At LenAera aption,thia deed of trust may be tae�losed(n the manner provid3 L^l+aypfipbla!aw for foredosuro of mortga8es , ; ,�::......-;,�_,_
<br /> on roal proqerty. ' s�f �� '• •
<br /> 1.,:r:{���� ..�`�,•
<br /> � 14,hup�e�pn Lendar may enter the property w tnspect it if lsnder gtves Bortower noUco bofare:und.The notice must st�:e tfie reasonable ,,2 rr.-�.... :'9l%._-�,_'
<br /> � ,r .� " c.- _
<br /> • ' cause for Lender's inspection. �`-
<br /> . ti. �—
<br /> �6,Condomnstion.Bortower asslgna to Lender�e�roceeds of any award or c�alm tor dama ea cor+neeta�w�tn e co�emnatlon or othe�taWny _, , ,. .
<br /> of aU or any part of the property.Such proceeQs w,�be apD�ied es provlQed(n CovenaM 1.�Is ess?�nmer.t�svbjact to the terms af any prlor •�.; �^`�,`�.s . �
<br /> � securlty agreemeru. ��+J'"�-"
<br /> ���:._„
<br /> 1g,Wa[vK,By exetclsing any tomedy available:s Lendar,Lender does not glve up any right�s to later use eny other remedV•BY not exercis(ng _ _ _ ��__
<br /> any rometiy upon Borrower's Qetault,Lender doaa net watve any dght to later conoider ths evertt a defuutt if(t happons a9a�e• -
<br /> 77.Jdr�t and S�varal Uatr�ty Cn�al�n: S'�vum+on�nd Au1Dns BWnd• All duUea unds�thls deed of truat are joirs and aeveral. Any � ' ' h _
<br /> Borrawet who co-siBna th�a deed of truat but C�rns not co-slgn the underhing debt insvumeni(s) doea so onry to grar.t and wnvey t�.at � ' i'••
<br /> Bottower'e interest in the propaRy w the Trustea under tha term9 of thla daod oftrust.In ed0ition,such a Bonawar agre:s that the Lendar and .=�-'-:�?::�
<br /> a-..�p other Borrower undar this deed of vust may extend,modtfv or make any other changes In the terma of thia deed e`truat or the secured . .,•. :�••, .�_
<br />, Qe�t wtthout that Borrower's consent and without refeastng that Bonower trom the terms of thla deed of trust. �+��.•-4
<br /> t �'�w. . ';, �__
<br /> � The duties end 6enefits of thle deed o}truot shall bind and Denefit the successora and aseigna of Lender and Bonower. - •�-.�.��--�•�.° ._
<br /> . �"".,�w:=�:� <.:.,
<br />� 'r. 7 8.N o t i c�.U n l e s s otherwlse re quired by law,e.:�noUce to Boaawer shall be givan by deSvsriny it or by melling it by certitied mall aQdressed to ` .... , �-,_
<br /> ;.;'�� Borrower at the propertV addroso or any o t h er t+�droaa t h a t B o r ro w e r h a sg l v e n w L e n d e►.B o r r o w e r w i 1 1 0 i v e a n y n o Uce to Lender b y carUfiod .r..;�;; ;,;;r�-.;.__
<br /> mail to Lends►'s addross on pape 1 of thls deed of Uuat,or to any oiher address vfilch Lander hae designatod.Any Offier notice to I.�ander shall • .���� �•
<br /> �•.� ��:."w.C-.c:t. i;� -
<br /> . be aent to Lender's eddresa as statod on pago 1 of thla deed of trust. ;,�,�,_.,.,:, : ., , _
<br /> �� Any noUce ehall be deemed to have been glvan to Borrower or Lendnr whe�glven In the manner stated above. � • _
<br /> -+,a 19.Ttansfot ot f.h�Propsrty or a Bsnsflei�f InUrs�t In tho Bonow�r.If atl or any part of the propertV or any interest in it ie sold or transferted : ' • —
<br /> _ ' �:��p�f without LenQur'ts prior written consent, Lender may demand�mmediete paymsnt of the secured debt. Lendet muy also dnmand Immediate . , .� ,. :.—
<br /> �`'�'%� demand paymenBan the above situations if k is proAib ted by feQeral law a ofihe ae o of LAIs Aeed ofin,�e�aTMed. However, Lender may aot ;;,:� --
<br /> �: ti _, .
<br /> � 23.�7�camr�Yanc�•Whon the obligation securod by thla deed o}Vust has 6een pald and Londer has no turther obligation to make advances
<br /> ' � un9zr the instrumerRa or agreements secured by this deod of vust,the Trustee shalr upon written request by the LsndoT, recanvey tt:3 vust .
<br /> propertY.The Lendor shall dolivar to the Bortower,or to Bonower's successor in interest,the tn�st deed and t1�e note or othor evidcaea of the .
<br /> ,•�� obllgatlon so satlsfied.Borrower shall pay any recordation costs. , . _ `
<br /> ` ,���'{ 21. Suec�ssor Tmsta�. Lendar, at LenGer's oAtion, maV romovo Trustes and eppoint a succossor uuatea by first, maiting a copy of the . . ="`
<br /> � substltuUon of Lrusteo aa tequtred by applicabte Iaw.and then,by filing the substitutlon of uustoe for record in the oNlce of tho reglster of deeds _
<br /> of each county In whlch tho trust property,or somo part thereof,Is situated.The successor trustoe,wkhout convoyance of tho proporty,3hall : �,.
<br /> succaed to atI tho power,duties,suthorityr and tiUe of tho Trustee named in tho deod of trust and of any successor trustee. ` �
<br /> � • . '�:t,
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<br /> � � Ipage 2 0121 [ .. J ` ' --.
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<br />- � � ..4 �aNKERS SYSiEMS.INC..ST.CLOUD.M9 5830�It�806397d3411 FORM OC��MT(LNE 8/19/91 -'—: .--•—' ty'_...
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