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<br /> COVENANTS __
<br /> '�;�:.�="=`�.��°
<br /> 1. PaymN►U. Borrower agrees to meke all p�ymsntt on the �acurod debt when due. Unlosa Borrower and Lender agree otherwise, any , - _
<br /> payments Lender receives from Borrowar or tor Borrow�r's bsn�ilt wlll be appllAd fint to any amountt Horrower owet on the eecured debt ,;�•'?fit'•�i,:
<br /> notlredure or exc ne�anyrlecheduied�ayminttunt�the�eau�ed debt�e�palld�in tull�� prep�yment of the secured debt occu�a for any reeson,It wtil "
<br /> :.�.�;,: ,.
<br /> 2.CINmi Apaintpt Tltls.Borrowor wi�pay all texee,aa�oa�ment�.end othor charpee atlributabte to the property when duo and will defend title
<br /> � defenaea wh ehaBorrower mey hev ape nst pet��pw oiupply IaboNor materleis to Imp ove oeyme ntarin therpropsrtyassiyn any rights,claims or ,;.�
<br /> .�1�
<br /> 3. Insurana�. Borrower will keep the property Imured und�r tarms acceptabla to Lender et Botrower's expenae en d fo r L e n d e r s b e n e f i t. A l l „ __
<br /> ineurance policles ahalt Includ�a etand�rd mortp�0�al�ute In favor o}Lender.Lendet wW be named as loas payee or en the insured on any such --
<br /> � I or�to the sscured dabt�If Lender requlres�mortp�p�P su�ancet Borrowsr�ep e�a�rto�mefnttlnteuchhnauratnce for as long es Lendererequres roperty =___
<br /> { 4.Property.8orrower wili keep the propeny In pood condlclon end meke eli repelrs reasooably necessary. __
<br /> •••""'r� 6,Exp�nt�s.Borrower apree�to poy all Lend�r'��xp�n�es Inalud�np n��on�61e sttorneys'fees,if Borrower breaks eny covenants In this dead � _
<br /> �.� • '� of trust or In any abllgatlon iecured by tfila doad cf trutt. �orrower wlil pay thete amounte to Lender as provided in Covenant 9 of this dead of .
<br /> trust.
<br /> • 8.Pria S�curity Int�r�itt. Unlett Borrower flrst obtaln� Lmder'�wrltten con�ent,8arower will not meke or permit any changes to any prior .,.. -
<br /> � secu►ity intereets. Bo�rower wlll pat(orm nil o} Borrow�r'�obltp�tlom under eny pria mongage, deed of trust or other security agreement, . . . __
<br /> Includinp Borrower'�coven�nt�to m�ks payme�t�when dw. ; ;=
<br /> ; � T.Assi�nm�nt of R�nu and Pro}Its.9arrower aeelpns to Lender the rnnts end proflti ol tho property.Unless Borrower and Lender have agreed <'�� -
<br /> otherwlse ln writinp, 8orrowsr mey coltent and rotsfn the renta n lonp a� Borrowet It nat tn defauit. If Borrower defaults,Lender, Lendor's -
<br /> � apent,or a court eppolnted recelvet may tsk� poiss�tlon�nd m�nage the property Ind colieat the renta. Any rents Lender coliects ahall be
<br /> epplied flrat to the costs of manapinp the property. Includlnp coun coste and attorneys' tees, comrniseiona to rentai agents, and eny other
<br /> ; , necesaery related ezpense�.The remeflifnp amount of nnts wfll then e�piy to peymente on the secured debt ae provided in Covanent 1. .
<br /> ( 8.L�s��hoids•Condominiumt;Pl�nn�d Unit D�v�lopmmt�.Borrower aareos to comS ly with the provisions of any lease if thfs deed of trust Is on �y i�
<br /> � underthe�co enanta bv�AWeua�►eguladonsfof the co�ndomin�um or plannod untt develol�o'p n`nt, Bonower wfll perform all of Borrower's dutles
<br /> � 9.putt,ority of��nd.�tc p��form fa BorrowK.If Borrow�r f�lls to�srform�ny of Borrow�r'i dutles under this deed of uust, Lander may ,��
<br /> � perform the duties or cauce them to be porformed. Lander mey elpn orrower'R mm�or p�y any amount if necae�ary tor perfarmence. If any �_
<br /> securi t y interest In the p opartyaTh�snm�Y includa compbting the aonstrua+tlanmann�r,lendu m�y do wh�tsver Is necessary to protect Lender's
<br /> � . .i __=
<br /> � � Lender's faiiure to perform wili not proclude Lender fram oxeralsing eny of Its other rlghu under the law or thi�deed of trust. __
<br /> � � I and will beatr inte�restyfrom�th tdapepof the payment untY�pa dtin full etithe�intereft�rete InleHiot onfthe iecured debt unts wilt be due on demund
<br /> �•� I 10. Qdault md Acc�br�tlon. If Borrower fallt�oom,mortaa ePorYdeed of t�u�tuLendirrme�eocelerete�the6matueiry oif theeseeured debt end �
<br /> obilpatlon secured by thia dead ot trust or any p Y o Y Iloable lew. �
<br /> � demsnd Immedlete payment and mey Invoke the power of�de and en other remedlss pNml ed by app
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<br /> '4 � 11,R�qu�st tor Notic�of D�f�uit.It Is hereby requetted that coplea of the notfca� of default and�ale be sent to eech person who fs e party
<br /> -� hereto,at the address of each such person,at set forth hereln.
<br /> 12.Pow�r of 8N�.If the Lender Invokes the power of saU, the Trurtee shall fi►st record In the offlca of the repitter of deeds of each county
<br /> � wheretn the truat propertY or some p�rt or percel thereof le sltuated a notice o}def�uit aontdnln the infarmation requfred by lew.The Trustee -
<br /> ahall aleo mall coples ot the notice of defeuii tu ti�ie 3orr�war,ia aach par:an �ha!s a psrt;�reto,en!�rn oth�r peraona as p�nat�bn any
<br /> � applicebin Iew. Not lees then one month aiter the Trustee recorde the notice of dehutt or two months if the trust property I
<br /> Incorporoted city or vilkye ind la used in farminp aperationo carrled on by the truetor,Ihe fruste��hdl plve publio notice of eale to the persone
<br /> i end in the manrtsr preecribed by appplicable law.Tru�tee,withaut dem�nd on Borrowa, shdl s�ll ths property at publio suotlon to the highsst �"==
<br /> bidder.If required by tha Farm Homestead Protectton Aat,Tru�tee ahell offsr the proarty In two saperate ulss a�requlred by appitcable Iaw. ��;
<br /> Trostee may postpone eale of ell or any paroel of the property by puNlo ennounaement at the ttme end place ot any previouely scheduled aaie. �
<br /> Lender or ito designee msy purchase the property st��y sale. �_.:
<br /> `� Upon receipt of psYment of the price bid,Trustee shaY deiiver to the purchaser Trutte�'t d�ed conveying the property. The recitlals c�ntalned in 1Q--
<br /> Trustee'a deed shall be prima}ecle evidience of the truth of the�tatements contafned thereln.Tru�teu shall eppty the proceeda of the sale in the .
<br /> �� rolns1tat ment foea���b)to�all eu naasecu ed by thie�d ee dlu�dlnp,8buend Icl�thot balence tlif y blo the pe�soni legilly entltledltoaecelve�i feea end
<br /> !, 13. Fonc�o�un.At Lender's option,thls deed of tru�t may be toreclosed In the menner provide by applicable law for forecloture of mortgaqes
<br />_ . I on reel property.
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<br /> I 14. Imp�otlon.Lender mey enter the property to inspect It If Londer glves Borrower notice beforehand. The notice muat atete tha reaaonable
<br /> cause for Lender'�Inapectwn.
<br /> � 16.Cond�mmUon.Borrower e4eign�s to Lender the proceeda oi any eward or clelm for Asmipet connected wlth a condemnatlon or other takinp
<br />_ ot ali or eny Dart of the property.Such proceeds wili be applied ee provided In Covemnt 1.Tlils�ulOnment I�oub�eot to the terms of any prlor
<br /> 1 i security egreement. __
<br /> � � 18,W�iv�r.By exe�cleing any remedy avaliable to Lendet,Lender does not glve u eny riqhts to leter use any other remedy.By not exercising -__-
<br /> any remady upon Borrower's defeult,Lender does not walve any ripht to later cornPder the event e dstsult If It hsppens eyefn.
<br /> 17. Jolnt �nd S�v�ral LI�bility Co•iipn�rr, Suaass�ors md Asdpm Bound. All dutbs under thls deed of truot ero�ofnt and several. Any
<br />�r Bortower who co•aigns this deed ot trust but dooa not co•aipn the underlyinp debt inetrumentle) doss �o only to prant end convey that r
<br /> Borrower'a intereet in the property to the Trustee under the terma of thls deed oT truet.In�dditlon,such e Borrower agreea that the Lender and
<br /> anV other Barower under thie deed of truet may oxtend,modify or meke eny other chanpes in ths tarme of thls deed of truot or the secured �,;__
<br /> debt without that Dorrower's conaent end without roleasfng thet Borrowar from the torms of thl�deed of trust. �— -°_�-_
<br /> I The dutles and benofits of thfo deed of trust ahell bi�d and benefit the�uccesaors end aisipnt of Londer and Borrower. ,;,'�
<br /> 18.NoU¢�.Unlesa otherwise requlred by law,any notice to Borrower shall be piven by dellverinq It or by malliny It by certified mefl addreaeedto ' ,:,,,��
<br /> � Borrower at the Droperty addresa or anV other eddrees thet Borrower hes given to Lender.Borrower wfll glve eny notice to Lender by cortifled � �._
<br /> mail to Lender's addrees on page 1 of this deed of truet.or to any other addreos whlch l.ender hat de�lpnatnd. Any other notice to Lender sheil ,:+� °' 5:,,�'�.
<br /> be sent to Lender's addrese ea stated on page 1 ot thlt deed of trust,
<br /> .t�'��M,.
<br /> Any notice shail be deemed to have been givon to Barower or Lender whon elvon In tha manner atetad ebove. ._..; ��
<br /> 19. Tranat�r of th� Prop�rty or e B�n�fleial Int�nst In th�Borrow�r.If ail or eny pert of the property or eny interest In It le eoid or transferrad � ,
<br /> without Londer's pnor written consent, Lender may demand Immodieto paymont ol the socurod doAt. Londor may nlso domend Immedlete
<br /> puymant If the Borrowor Is not a naturai person ond a bonoficfal intorost in tho Barrowor la eold or trnnaforrod. Howover, Londor may not
<br /> demand payment In the above situotions if it ie prohibted by fednral law as of tho dnto ot thie dond uf tnist.
<br /> 20. R�conwyanc�. When the obligation securod by this deed of trust hos baon pad,und Lundw line no furthnr obllpatfun to muko advances
<br /> under the inatrumenta or egraements secured by thla doed of trust,tho Trusteo shaM, upon wntton roquost by tho Londor,roconvoy the truat
<br /> property. The Lendor shall deliver to the Borrowor, or to Borrowor's succoasor in intaost,thu truat dood und tho noto ur othor ovfdonco of the
<br /> obligetfon so satiefied.Borrowor shali pay any rocordotion costs.
<br /> 21. Succ�uor Trust�e. Londer. at Lender's option, mny remove Trustoo and oppoint a aucco�sor trur.too by lirst, madmp o copy of the
<br /> substitutfon of trustee as required by eppliceble law,and then,by fIIInQ tho eubotitutlon of trustoa for roeord in tha otficu o(tho ropister of deeds
<br /> of each eounty.in whicfi the'trust property,or aomo part thoroof,is situoted.Tho succoseor tnistoe, witliout convoynnco ol tho proporty,ahalt
<br /> � � . . . .__ ....��. .....ti...i�.,o...l�i�ln nf�ho Tr��ctwa namatl in thn f1nn�1 of truYt an�o}Ot1V IILLCCOOIIUt tfU8t00.
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<br /> BANKER9 SYSiEMS.iNC..ST CLOUO.MN 66901 Il B00]97�33411 FORM OCP MTO NE 6�19•91 '
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