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<br /> 1 cov�nuar�vs � -
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<br /> ;. � 1. Psymorris. Borrower egresa io make atl paymanta on tlsa seeurad debt whan due. Untess Borrower and Lender agree othorwise, eny _ , • •�-
<br /> _ � oaymenta Lendar raurivaa from Borrowar a►for Bortower's bertefit wili be app�ied tirst to any amounts Bonower owea on the ascure�debt c�
<br /> � exclus�va of intereat or prindQal,sacortd to interea4,and thes�to principa{.If parrial propaymnnt of tha sowred deht occure for any rouson,ft wiU F
<br /> not roduce or e�ceusQ at►►t�Cls�dul�dpaY+ssln=+x�ti�th►sK'�retf debt is pa�d in tull. , ��
<br /> ` � 2.Clrlms Ag�imt 7F�t�:BoProwe►wlil p2y�!l twsi edac)smerrta,arx!othe►eharpsa atuibutabta to tha proporty whan due and wriU defend titte � . , " 1F=
<br /> to the property a gair�t a A Y c��Ywhtch voroutd ImpaU ttr�lien of this daod of trust.Londer may requiro Borrower to assign aoy riqhto,ciafms or ,. •
<br /> � detensoa which BonOwer f''r t 8einst part:o9 wAo eupgty IaDor or materiais to improvo ar mam2a(n t he property. �4 �
<br /> � � 3.Insunr�e�. Borrower wili keep the property inaurod under terme aecopte6lo to Lender at Bonower's eupense and for Lendar's benefit.Atl • � • �
<br /> ; � insuraneo polleies ehaU include a stendard mortgago cleusa in tavor of l.onder.Lendz�r wfli ba named as losa poyee or as the insured on any such �
<br /> insuranco po6cy.Any insuranee procaeds may 6e appiied,wfthin Lende�'s discretion,to either the restoration or repafr o4 the demaged property
<br /> � I or to tho saeured dabt.14 Lender requves mortgage insuranee.Bortower aproos to muintain such insurance for as long as Len�er requiros. ,,"�• . ` �
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<br /> �'� 4.Pra�erty.8orrower wili keep Ylia pmperty in good eonditior+and make afl repa(rs roasonabty necessary• '� � �
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<br /> ; 6.Exp�nsn•Bonower agrees m pay ail Lendar's expense8,ineluding roasonable ettomeys'fees,if Bonower breaks eny wvenants in this deed • ; ; F
<br /> ' � o(Vust or in any obtigaUon aeuaed by thia deed of trust.Borrowar wili pay these amounts to Lendar as provided in Covanartt 9 at this deed of ..
<br /> trust. • --
<br /> � � 8.Prim S�curfty fntu�sb.Unless BoROwe►first obta(ns Lendere written consent,Bonower will not make or permit any changes to any prior •
<br /> • security iirterasts. Bortower will perform ail of Bortower's obtlgetions under any prior mortgage, daed of trust or other securtty ag►eemeM. , •
<br /> , inciuding Borrowors covenarrts to make payments when due. ;. � ' =
<br /> T.Aainnrnsnt of Renb u�d Prot3L.Borrower assigna to Lender the res�ta and profrts of tha property.Unfess Bonower and Lender have agreed � � , _-
<br />� otherwfse in vrriting, Bortower may coilect and�etein the rertta as tong as Bonower is not in defauft. tf Borrower defauits. lender, Lender's ,.. . ,•
<br /> • agent,or a cour4 appointed reoeiver may take Qossession and manage the property and cotlect the rertts.Any reMS l.endar ooliects shall be .�'�'•'.;'.,,',;� ;:_�•.
<br /> apptied first to the costs of managins the property, induding court costs and attomeys'feos, commiss[ona to rentaiag u� rts, and any other . .
<br /> necessary reiated expenses.The remaming amourtt of rents vidil then appry to paymenw on the sewred debt as providcd in Coveoani 1. ,
<br /> ' B.L�as�hnids•CortdamTniwra;Rann6d Ileu4�icLmyme�:8orrower agrees to compty witfi the provisions of arty tease if tP.is deed of bvst is on ���� +� a.r'Py1r;'i~,N;1
<br /> a teasehotd.If this deed of trtist is an a unit in a conQa�nrrdum or a planned unit developmeni,Borrower wiU perfarm aft nf Garro►vc�s duties =„�
<br /> under the covenacns,by-laws,ar regulatioris of the ecndcm'rrdurtt or ptanned unit devetopmarrt. !s:; '�•
<br /> ���1�� •_
<br /> ",;� 9.Authority of L�ndst w P�efa2n for 8araorrv- tf Bcrca�r i�eets w perform any of Borrowers duties art4er this dec3�°-�-.W[, tea4er may "'� " � : �
<br /> ,�:��.i perform the dut�as wuse t�ss.�n to ba e�rfcrrta3.L3���.:. ^^alr si8:+8errau.•ds name ar pay any amouM if r�cessary fer Fa`crm�nee.C�arry �-�^=•�. ' -
<br /> • consfiactSon¢1�e:,roperty is�-scer.ti,-.aEd ar rr_c�rr.e��,i-a svs.r��e;r.Fr.rtar,Ler.der may da w:+���o:is neeess-JY to Grotect L�-�:b�s - "+��,"
<br /> -'�'�',' securiry irtterest i-:'e propert'r+."?fs m.�r rtctu3e r...-�;��r'��r.s�s:�ion. �, ,;t�---
<br />,,.�.�ri . , ,;, �,;�,:r; _.
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<br />,.�,;}..,p, �sn�sr's fai.ure ta Rarfomi vr�L'ictl�'ad�de L3'+�3r�°�e��.r.g any of tts otnaT rights�r�o:L*:3�arv cr t:;deed of trust. �
<br />_ F>.::�.:. .. ��. =�
<br />'.'{,�±�t�:� xry amautrts paid by Lendet to protect Lert�.{s saaa:y ia�st will be secured by UUs da2ai of trust.Such amounts wilt ba due on Qemend �•►�
<br />:'f^.�!� a:A w�l bear in:erest from the date of the Ray...e-ri urRil paid in fuD at the IMerest rate in eifect an the secured debt ,
<br /> �;;'� 78. Oafn�t end Accd�tttlan. lf Bonower faits to make ar►y paymant when due or breaks any covena�s under this deed of trust ar any � � �,
<br /> • obf:gation secured by this deed ot trust or any prior mortgage ar deed of trust,Lender may accel8rate the maturity of the�ecured debi and 't.... ;.�._.`:
<br /> damand immediate DaymerK and may inwke the power of sate and any other remedies permitted by appiica6la law. =-T?-*r .
<br /> 1 t.Requost far Nottce of Delauft.ft is hereby requested that copies of ffie notiees of defautt and sate be serrt to each person who is a party ''� z '��i 1� r
<br /> � hereto,at the adQtess of eaeh eueh person,as set torth harein. ,�,�,. •.��°�```
<br /> 12.Pow�►ot Sa�a.If the Lender invokea the powe�of sate,the 7rustee shall first record In the office of the regiater of Aeads of each county � :`'�
<br />� wherNn the trust property or some pnrt o�parcel thareot is sltuated a noUce of default eontatninp the infarmation requirod by taw.The Trustee d�.• �.-' �
<br /> sAail aiso mail copies of the notice of Qefautt to the Borrower,to each peraon who ia e party hereto, and to otMr pQraons ae prosw(bod ty ;., �.4-�"?'�
<br /> appilcable law. Not lesa thart ane month siter the Trusteo recarda the notice of defauit or two montha M the truet proporty ta not ln anV
<br /> • � ineorparatad city or viifnpo and ia used in fartning opereUona cenied on by the trustar,the frustee ehail pive pubUc notice of sale to the pereona , - �� '
<br /> and in tfie menner pre�cribed bY�eppplicabtg law.Trustee,without demanQ on Borrower,ahall sell the property at public auCtian to tha hipheot : ~•.��-:,
<br /> ' b i Q d e r.I}r e q u(r e d b y t h e F a r m H o m e s t e a d P r o t e c t 1 o n A c t,T r u a t e e a h a l i o N e r t fi e p r a p e n y i n t w o s e p a r a t e s a t e s a s r e q u i r e d b y a p pti w bl o l a�v.
<br /> Ttustee may postpone sete of atl or any pareel of the property by publie announcemeM at the Ume and ptace of any prevfousty schedated&ate. _ rat ;
<br /> LenGer ar iti destynee may purchass the property et arsy salo. -��,; , � _
<br /> Upon reeeipt of payment ot the price bid,Trustee shall detiver to the purchaser Truates's deed co��veying th�property.The reciUals contalned in �"
<br /> Trusteo'a deed shali be prima facie evtdlance of the wth of tha atatementa cor�tained theretn.Trustea shali appty the proceeds of the eale in the ;
<br /> followiny order. (a) ta ail expenses of the sate, inctuding, but not timfted to, reasonable Trustee's feaa, reesonabte attomey�a teea and . � ,�,_„
<br /> retnstatement fees;(b1 to atl�uma secured by thia deod of trust,and(c)the balanco,it any,to the parsons lepelty errtitled to recoive It.
<br /> �• 13.Fonclosur�.At Lende►'s opUon,thla deed ot trust may be foreclosed in the manner provida by aypiiaablo law for foroclosuro of moRyegea `' �
<br /> on reai property. - '
<br /> ' 14.Ins�setion.Lende►may enter the property to inspect it ii Lender g'ive.a Snrrowet noUce beforehand.The nottce must state the re�>ccrable ������� _=—���---
<br /> '`c:::., cause Tar LenQer's inspoctfon. !�=-----:-�',�..9
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<br /> 16.Condae�ation.Bortower ass' na to Lendar theprocaeds of any awazC or ctaim for dam�.�wnn�cte0 vi°7►a ecr.�eac�at3on or other taking -- ------- r-'
<br /> of ail or�ny part of the property.�uch proceeds wi11 be applis�as Drov�Qed in Covenartt 1.��`as assignmer.i is subject to�+e terms of any pdor ,.�;;,� � .,;c__
<br /> seeurity a�oement. - - '�v�-
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<br /> �u;.,• s.� .�,�,F..,.,.,
<br /> ��.;� 18.Watv�r.8y exercisinp any remedy availabla to Lender,Lender does rtoz gwa up eny rights to later asa u:r other remedy.By not exareising � ��,+ ,�,.,, _
<br /> iF���1�,, any remedy upnn Bonower's defauit,lendor Aoos not waivo any right to tz�e:consider the evant a defauce":.^�:appens again. ry ' ' i:�,�y`__
<br /> � !7.Jotnt a�d S�voal Li�tyr Co-aly�»rs; Suec�uon and Aatl�s Bound. AO duties undet th18 deed tf trust ere i,rlrt end several. Any ' �
<br />• Drnrower who co-sipns this deed of trust hut doea not co-t:gn the unQerl ng debt insVUmentls) does so onty ta �^.�:t and canvey that �.....�:
<br /> •` B�rrowera intereet in the property to the Trostee under the terms of tti�s dee�oftruat.In addition,auch a Bortower aQ-,��a C`�at the Londer and - $"""�:'-'�'F�".���
<br /> arry otho�BOrtower unQer thle doed of trust mey extend,moffifv or make any othar changea in the terma of this dee�a4 rvat or the secured ..�'�!!:�a_°,''�,.,�'��'� '
<br /> ' Qebt without that Borrower'o conserrt and w3thou!releasing that�onower ftam the tetms o}thls deed ot trust. �'����'
<br /> 7M duUea and benefite of thio deed of trust shail bind and berreflt the succassors and assi �� y . �
<br /> gns of Londer and Bonovver. r,;� . . �
<br /> ' 18.tloUeo.Unleae otherwiae re uired b iaw,arry noUce t�Bonower shatl 6e iven by delhrorin it or by,mailin h by certiflod mail eddressed to . j '"��i:'` ^
<br /> Q V 9 9 9 ;�,p:�Y•::�•;c,•�.:.,.
<br /> Borrower at ths proparty adEress or anY�other addreas that Borrower haa glvon to LenCor.Borcower will give any noUce to lendor by certiBed •
<br /> mail to Lendeta aQdreas on papo 1 of UUS deed o!trutt,or to arry otAer aCdress which Londor hae designated.Any other noUce to LenQer shall � � ° ' '_
<br /> • be sent to Lendei'e adQresa ee statod on pr�e 1 0?this dee0 of trust. � ""`,•+�'r���N.�'�: �
<br /> �vr�"•_:��+���
<br /> At�y noUce shail be deemed to have b e en g'.vxn to B ortower or L en der w t wn p iven in t he manner etete d e bovo. '�:•� r.
<br /> .��'i•.".�:�,"::�-':'�. .
<br /> 19.Tnn�of tM Prap�rty ar�B�naftetat Mirnst In th�Bortow�r.If ali m any part of tM propettv or any intereat in it is soid or transferred •�=a:��°• �
<br /> wRhout LenQer's prior written consent, Lender may demand Immediato payment of the socured debt. lenaer may atto demend immediate � � �
<br /> , demand pey�menein the abova eituadona if rt Is proAibrted by federel law as ot tlie dato of U�is deed�of trust nsferred. Howevar, Londer may not ;
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<br /> 20.Roconveyanc�.When the obligation secured by this deed of trust has been pald and Lender has no turther obtigation to make advancee .
<br /> � + undper the inatrumenb or egreemerrte secured by thia deed of Vust,the Trustee ahetf upon written request by the Lender,reconvey the Vuet .
<br /> ' ` obligat,ion so eatis�flode8ono•1i3r ehatl pay any eCOrAaU0n8�rsotewer's successor 1n interest,the Vust doed and the note or othor evidence o}the �
<br /> a . . '
<br /> �. � 21. Saeeeaaor Truates. lenQer, at Lond�ar's opUon, may romova Trustes aod appoirtt o successor Vuates by flrst, maiflng a copy of the -
<br /> � subsUtutton of trustee as requirod by appiicabte lew,and tnon,�y filing the suDstirirtion ot trustee tor racord In the oNlce of tho registor of deeds
<br /> � of each cour.ty in which tAe trust proporty,or some part thoreof,is situatod.The successor trustee,without conveyance of tho propert}r,shall � �
<br /> suceeed to aIl the powcr,dutios,authority anA mte o!the Trustoo named in th�doed of trust and of any succecsor trustee. �
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<br /> •�nae 2 or 2/
<br /> ' � E/INKER$SYST'MS,INC..ST.CLOUD.MN 68301 11�8L0397�23411 FORM OC�MfGKE 6/19.'91 � . _
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