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<br /> I COVEWANTS �8 ��i1�� ,
<br /> i, piym�nts. Borrower agreea to make a1F peymeMS on the aecured debt when due. Unless Borrower and Lender agree othervNise, any
<br /> payrnents Lender receivsa f1o� Rortower.ol To�.86rrower's benetit will be applied firat to eny amounte Borrower owes on the secured debt
<br /> exclusive of interest or prfnelpa, second to injereaG end then to principai.H partial prepeyrnent of the secured debt occura for any reason,it will
<br /> not raduce or exeuso uny eahedul�d payment unti�the ser.ured debt is paid in full. '
<br /> p, CIYms Aqstnst Titl�.8orrower will pey all taxes,assessments, and other charges aqributabie to the property when due and wiil defend title
<br /> � to the propefty epainat any claims which would�mpair the lien of this deed of trust.Lende�may require 9orrower to assign any rights,claims or �-
<br /> defenses which Borrower may heve against pan�en who oupply labor or meteriels to impove w mafntain tha property.
<br /> 3. In�uranc�. Borrower will keep the property �nsured under terms acceptabla to Lender at Borrower's expense and for Lendar's benefit. All
<br /> ; Insurence poliGlea shall Include a stenderd mortgaga clause in fevor of Lendet.Lender will be named as loss payee or as the insured on any such
<br /> orstnihaaesec�ured debt�If Lender requfres8mortgage P slueance`t Borrowe�ragre�esrto�mainieln euchhneurance for as long us Lendere 9quires roperty
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<br /> � q, pipp�rty.Borrower wiil keep the property in good condition and make all repeirs reasonably neceseary.
<br /> � 6, Exp�n�es. Borrower agrees to pay all Lender's expensea,including reasonable attorneys'fees,if Borrower breaks any covenants in thie d6ed
<br /> I of trust or in any obligation aecured by this deed of trust.Borrower wiil pay these emaunts to Lender as providod in Covenant 9 of this deed of
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<br /> ! 8. Prbr S�curfty Int�nsu.Unless Borrower first obtuins Lender's written consent, Borrower will not make or permit any changes to any prior
<br /> � secwitY interests. Bortower wiil perform ail of Borrower's obligatlons under any pria rnortgage, deed of trust or other security agreement, � �
<br /> i inaluding Borrower's Covenents to make payments when due. � ,.
<br /> 7. Aai�nmsnt of Rmts and Proflts.Borrower assigns to Lender the rents and profits of tho property.Uniess Borrower and Lender have agreed :;_;�sj;�l�y_
<br /> othenvise in wdting, Borrower may collect and retain the rents as Iong as Botrower is not in default. (f Norrower defadts, Lendor, Lender's . ..���jn,.-
<br /> agent or a court appointed recofver may take possession angd manege the property and collect the rents. Any rents Lender coilects shall be
<br /> necessaryrelat d e pensesfThe re taininhg amount of ents will thentapply to pay ents on tho secur d dabt as provided inACovenand'any other �
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<br /> g, U�sehotds•Condominlumt:Planned Unit Devaiopmente.Borrowor agrees to comp ly with the provisions of any lease if this deed of trust is on .
<br /> under thelcovenante,by lawsr or roguletions of the cond mfnium or pianned unit develop�int, Borrower w�ll perform all of Borrower's duties
<br /> 9. Authodty of Lsnd�r to P�rform tor Borrow�r. It Borrower fniis to�pertorm any of Borrower's duties under this deed of trust, Londor may
<br /> perfam the duties or cause tham to be parformed.Lender may eign 8orrower's name or pay any amount if necessary fa peAormance.If any
<br /> sawrity interest in the propertyaThis�may include compieting the cona tuctonmanner,le�der may do whatever is necessary to protect Lender's y�
<br /> Lender's feilure to perform wfll not preclude Lender from exerclsing any of its other rights under the law or this deed of trust.
<br /> a�d will bearsinte�re6tyfrom thetdape of the payment until`pafdtin full ati�the interest�rate n isffect onftho secured debt unts will be due on demand � `�
<br /> � 1 O,D�huit and Accd�ntlon. If Borrower falls to make any payment when due or breaks any covenants under this deed of trust or any � _
<br /> de end Immedi e peyment and may invoke the power of sele end any other emed eaDQrm aed bylappl cabie ewurity of the eecured debt and .
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<br /> 1 1,Rsqu�st for Notla�of O�fault.It is heroby requested that copiea of the notices ot default and sale be sent to each person who Is a party ,, �r;
<br /> hereto,at tho eddress of each such person,as set forth herein. .
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<br /> - i s.PowK oi S:i:.if it��o Lsndar invokes the power^f�Ata, the Tmstee shall flrat record in the office oi the register of deeds of eech county _ _ _
<br /> wherain the truat property or some part or parcel thereof is situated a notice of defau�t contalning the information required by iaw.Tha Trustea - �r,�
<br /> ereto, and to other ersons as prescribed b
<br /> sheM ateo mail copfes of tha notice ot default to the Borrower, to each person who is a party h p Y �. a._:-
<br /> applicebie law. Not less than one month after the Trustee records the notiee of default,or two months if the Vust property is not in any ,. :
<br /> IncaRorated ciry or vfilage end is used In farming operatlons cerrfed on by the ttuator,the Truatee ehall give public ratice of sele to the persons , ti_�:
<br /> and in the manner prescnbed by_appplicabio iaw. Trustee,without demand on Borrower,ahali sell the property at public euciion to tha highest �3;r
<br /> bidder. If requked by the Farm Homestead Protection Act,Trustee shall oHer the property in two separate saiea as required by applicable lew.
<br /> Tru�tee may postpone sale of ail or any parcel of the property by public announcement at the time and plece of eny previously scheduled sele. •
<br /> Lender or its designee may purchase the property at any sale. �
<br /> Upoo recelpt of payment of the price bid,Trustee shali deiiver to the purchaser 7rustee's deed conveylng the propertY.The recftials conteined in
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<br /> ' Truatae's deed shall be prfine facle evidienae of the truth of the statements contaHed thereln,Trustee shall apply the proCaeds of the selo in the ,
<br /> r elmt�itement feesa1lb)to lall umsesecu ed by this�deed adiig,bbuand(c)I het balnnce ef g y,bto he pees nslagnlly ontit�d tor eceive IL,feea and
<br /> " 'f 3.Fonctosun.At Lender's option,this deed of truat may bo foreciosed in the mamer provide by applicable law for foreclosure oi mortgages ��--�-
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<br /> onieal property.
<br /> c use for�Lender e Inspection nter the property to inspect it if Lender gfves Borrower notice beforehand,The notice must state the reaeonable `•����
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<br /> 'I6,CondQmn ed�of Bhe p operty�Snuch proceedshwill be applled as proveded In Covene^iamaghis ss gnment ie subJectdtom he�terms of any prfo�r - -
<br /> of ell or any p T _- -_
<br /> security egreement � '�"-
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<br /> �8,W�iv�r. BY exerclsing any remedy available to Lender, Lender doea not give up any rights to iater use any other romedy,By not exercising _ ___-___ _
<br /> any remedy upon Borrower's default,Lender does not waive any right to later cansidm the event a default it it happens agein. �`'���:,_.;
<br /> 17.Jdnt and S�vsrai U�bility: Co•sipnsrs: Successors end Anipns Bound. All dutlas under this deed of trust are�oint and several. Any "�`"-��`-`--
<br /> Burower who co•signs this deed of trust but does not co•sign the underlying debt instrumentls) does so only to grant and convey thet �,:
<br /> Borrower's interest in tho property to the Trustee under the terms ot this deed of tru�t. In addition,such a Borrower agrees that the Lender and ..—�_
<br /> any other Borrower under this deed of trust may extend, modffy or make any other c{�anges in the terms o4 this deed of trust or tho socurod „
<br /> de6t without thet Borrower's consent and without reloasing that Borrqwer from the te�ms of this deed of trust, s��:��L
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<br /> The duties and benefits of this deed of trust shall bind and benefit the successora and assigns of Lender and Borrower. � �f �.G{�� •
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<br /> 18.Notics.Unless otherwise requfred by law,any notice to Borrower shall be given by delivering it or by mailing It by certfffed mail addressed to L Y
<br /> Borrowor at the property address or flnY other address that Borrower has given to lender,Borrower wiM give any notice to Lender by certified . .
<br /> rneil to Lender's address on page 1 of this deed of trust,or to any othe�address which Lender has designatod.Any other notice to Lender shall ,
<br />- be sent to Lender's address as statod on page 7 of this deed of trust. � „
<br /> ' A�Y notice shell be deemed to have been given to Borrower ar Lender when given in iho mannor stoted above. '
<br /> 18,Ttenstar ot ths Propsrty ar a Beneflalal Intan�t In the Borrow�r. If all or any part ot the property or any Intereat in it is sold or transferred
<br /> wi�hout Londer's prior writton consent, Lender may demand immediate peyment of the secured debt. Lender may elso demand immediate
<br /> - payment if the Borrower is not a natural person and a beneficial interest in the Borrower is sold or transferred. However, Lender may not
<br /> - demand payment in the above situations H it is prohibitod by fedoroi law as of tho date of this deod of trust.
<br /> 20.Raconv�yance. When the oblfgetfon secured by this dead of tn�st haa been pad, nnd LNndnr has no further�hliqation to make advnnces
<br /> � uMer the instrumonts or agreemonts secured by this deed of trust, the Trustee shell, upon writton request by the Londor,reconvey the trust
<br /> popc3rty. The Londer shall doliver to the Borrower,or to Borrower's successor in interest.tho trust docd and the note or other evidence of the
<br /> 1 obligatan co satisfied.8orrower shall pay any recordation costs.
<br /> 21, Sueceaeor Truatee. Londor, at Lender's option, may remove Trustee and appoint a successor trustoe by first.maiGng a copy oi the
<br /> I ...�,e.s•.,��...,.,f tn�ntan aa ranuir�d bv euDllcable law,and then,by filing the substitution of trustae for record in tho offico of the rogister of deeds
<br /> ol ench county in which thn trust property,or some part theroof,is situated. The succossor trustee, witnout conveydncu ui iiiv prc,pniiy,aiiuii �
<br /> succoed to all the powor,dutios,authonty and title of tho Trustoo named in the deed of trust and of any succeasor trustee. I
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<br /> BWKF.NS SVS7fM5.�NC.S7 CLOUD,MN 66701 11 800 197 2541�iORM OCP M70 NE Oi19�97
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