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<br /> COVENANTS � �78" ����,1�4)
<br /> 1 1. P�ym�nt�. Elorrower ap►ees to mako ail paymants on the �ecured debt whan due. Unless Borrower and Lender agree otherwtse, sny • _
<br /> psyments Lender recelves from Borrov�or 1or Borrqw�r'�bsn�fit will be applied firet to any amountc Eiorrower�wos on tho securod dobt
<br /> exclus�vo ol internet ar princlp�l,ncohdtq intero4t,and then tp princlpni.If partlol propeymont of the eocured debt occurs for any rooson,it wili ,
<br /> not reduce or excu�e any�chedul�d lp�FayrMnt untll the aecu►ed tlebt is paid In tuli.
<br /> 2. CINm�Apaintt Titl�.Borrowaf�W1AMP�Y���qx��,�sa�smente,and other charpos ettrlbuteble to ihe Property when due and will defend title
<br /> to th�property ay rinet eny cl�im�which would Imp�ir tha Iten a}this deed of trust.Lender mey requlre Borrower to aasipn any riphte,clalma or
<br /> de}en�e�whlch 8orrower m�y have eptlmt partla�who�upply labor or materield to Improve or meintaln the property. �'�
<br /> 3. IniurMU�. Borrower wftl k�sp tha property Inuued under terma eccepteble to Lender at Borrower's expenie and for Lander'e b�nefit.All ' °° `:L
<br /> • fnwrance policles�hall Include a�tand�rd mortp�pe clawe In favor of Lender.Lender wlll be named aa lona peyee or as the Insurod on any auch °�;�•r
<br /> Inaurence pollcy.Any Ineu►ence proceeda mey be applied, within Londer'e dlecretlon,to elther the reatoration or repalr of"he demaged property :•;
<br /> or to the secured dsbc,If Lender requlres mortyaps Insur�nce,Borrower eprees to malnt�in such Insurance for aa long aa Lander requuea. ,�;. .
<br /> �.•-+� � 4.PropNty.Borrower will keep the property In pood condition and make ail repalrs reasonably naceasary. � � � —
<br /> " 6.Exp�n�u.Borrower agreee to pey all Lender'a expen�ea Including raaaonable attorneys'fees,if Borrower breeke any covenents In this deed , .=r=_=_
<br /> of truat or In eny oblipetlon eecured by this deed of truet. �arower wlll pay theso amounte to Lender as provided in Covenant 9 of this deed of ��• -
<br /> truat. �'`'�
<br /> 8.Pdor S�audry Int�ntt�.UniASa Borrower ilrat obtain¢Lender's wrltten conaent,Borrower will not make or permit any changes to any p►tor �-=
<br /> security interectc. Borrower will porfarm all a! Borrower's oblipatlona under eny prior mortgafle, dead of truet or other secuNty eqreement, �� �+�_•F-::�.�_�T
<br /> Including Borrower's covenanta to make psyments when due. •�'�"
<br /> 7.Aulpnm�nt of R�nu�nd Protitt.Borrower asslyns to Lender the rents and prnfits of the property.Unless Borrower and Lender have apreed •T'�-
<br /> otherw�se in writing, Borrower may colieat and rotain the ronts as long es Borrower Is not In default. If Borrower defaults, Lender, Lender's �._
<br /> agent, or a court eppolnted rocelver mey take possesebn and manage the property and collect tha renta. Any rente Londer cotlecte sheli be ��'°-
<br /> applled first to the coats of manaping the property, including court costs and attorneys' tees, commiasions to rental agonts, and any other ��'"''-
<br /> neceseery related expenses.The remaininp emount of rente wlll then apply to payments on the aecured debt as provlded in Covenant 1. i��'-'_�
<br /> 8.L��s�hddt•Condomintumt:Plann�d Unit D�vdopm�nts.Borrower egrees to comply with the provisions of any lense if this deed of trust is on '>"..�Fc?
<br /> a leasehold.I�thl� deed of trust la on e unit in a condomiNum ur a planned unit developmont,Borrower wlll perform all of Borrower's dutiea _
<br /> under the covenents.bylawe,or reguiations ot the condominium or planned udt development.
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<br /> 9.Iluthority of L�ndK w Pirform for Borrowrr. If Borrower falls to perform any of Botrower's duties under thls deed of trust, Lender may '��«�`
<br /> periorm the duties or cause them to be performed. Lender ney sfgn 8orrower's name or pay any amount if necensary for per(ormanca. If any � • ���'�X--_'
<br /> construction on the proporty is discontinued or not carried on In a roeFOnabie manner,Lender may do whatevor is neceseary to proteCt lender's '��; �;
<br /> security fnterest in tfie property.Thia mey include completinp the conatruction. �
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<br /> Lender's faliure to perform will not preclude Lender from exercising any ot Its other rights under the law or this deed of truet. ,��•��
<br /> Any emounts peid by Lander to protect Lender's securlty Intereet will be aecured by this deed of trust.Such amounts wlll ba due on damand •�>
<br /> � and wlil bear Interest irom the date of the paymant untli pald In full at the Incereat rate in effect on the secured debt. � '• -
<br /> 10. D�fwlt�nd Aoc�lv�tion. If Borrower feils to make any payment when due or broaka eny covenenta under thia deed of trust or any '' � '�-�
<br /> obilgation secured by this deed of trost or any pnar mortpepe or dead of trust, Lender maY accelerate the maturity of the secured dabt and , '��='-
<br /> y demand Immedlate payment and mey invoke the power of aale and any other remedles permitted by appiicable law. �,
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<br /> 11.R�qu�st fnr Nottc�of D�ftult.It is hereby requeated thet copies of the notices of default and sele be sent to each person who is e party -
<br /> hereto,at the address of each such person,as set forth herein. -
<br /> S2.Pow�r of Sal�. If the Lender Invokes the power oi sele,the Truatee ahall first record in the office of the register of deeds of each county ::�
<br /> whereln the trust property or some part or percel thereot ie altuatad a not�e of default containing the information required by Iew.The Trustee ;;_
<br /> ahall also mail coptes of the notice of default to the 8orrower,to each person who fa a perty hereto,and to other persons as preacribed by
<br /> eppllaeble law. Not lese than one month eher the Truatee recorda the notice of default, or two months if the truat property Is nnt In any ��°
<br /> � incorporeted eity or viMage and la used in farming opo�etlone eatrled on by the truetor,the Trustee ahail give publia notiee of sale to the persona :
<br /> end in the menner preacribed by�apppiicable law.Truatee,wlthout demand on Borrower,shail sell the property at publla euotion to the hiphest �:?°�
<br /> bidder.If requlred by the Farm Homestead Protection Act,Trustee shall offer the property in two separate sales as required by applicable Iaw. '��.:
<br /> Truatee mey postpone sale of ali or any parcel of the property by publlc announcement at the time and place of any previousiy echeduled sale. ,.
<br /> Lender or Its dealpnoe may purchase the property at eny sale. •_
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<br /> �. Upon recelpt of paYment of the price bid,Trustee ahelt deliver to the purchaser Tructee's deed cnnveylng the property.The recitlals contalned In
<br /> Truatee's deed shall be primo facie evidfence of the truth of the atatemente contained therein.Trustee ehall apply the proceede of the eale in the _
<br /> �,` following order: le) to all expenses of the sale, Including, but not Iimited to, reaeonable Trustee's fees, reasoneble attorney's fees and
<br /> M•' reinctatement feec; (bl to all aums secured by tlifs deed of trust.and lc)the balance,it any,to the pereons legally entitled to recefve it. --
<br /> �+� 13.Fa�ciosun.At Lender'e optlon,thls deed of trust may be foreclosed in the manner provide by appilceble law for foreclosure of mortgegee
<br /> �: on reel property.
<br /> - 74.Insp�ctton. Lender may enter the property to inspect it if Lender gives Borrower notico beforehand.The notice muat etete the reasonebte ---
<br /> cauae for Lender's inapeation. �,-
<br /> 16.CondemnaUon. Barower assigns to Lender the proceeds of eny award or clafm for damages connected with a condemnetion or other taking __
<br /> � of ali or eny part of the property.Such proceeda wiil be applied as provided In Covenent 1.Thls assipnment Is subJeat to tha terms of nny prfor --
<br /> security agreement.
<br /> Q' 18.Waivor.By exerciefng any remedy available to Lender,lender does not give up any righta to leter usa any other remedy.By not exercising =-_ _ _
<br /> any remedy upon Borrower s defauit,Lendor does not waive any right to later conslder the event a default If It happens ageln. - �--_
<br /> 17. Jdnt�nd S�v�r�LI�bGtty• Co•aipnna; Succ�asors and At�iym Bound. Ail dutfes under this deed of trust ere Joint and snveral. Any ����
<br /> ". Borrowar who co-signa this deed of trust but does not co-sign the underlving debt Instrument(s) doee eo only to prant and oonvn� •hat =` - -�-
<br /> Borrower'e Intereat in the property to the Trustee under the terms of this deed of trust.In eddition,such s Borrower agrees thut the Lendor and „•;e�
<br /> any other 9orrower under thia deed ot trust may extend, modfiv or make any other changea in tho terms of thia deed of truet or;he secured ���:,� -
<br /> debt wfthout that Borrower's conaent end without releasing that�orrower from the torms of thia deed of truat. `aa�.'" ..
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<br /> The dutles and benefite of this deed of truat shali bind and benetit the successors and aesigna of Lender und Borrowor. r, ,'�;�:-
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<br /> 18.Notict.Unle6s othorwiae roquired by law,any notice to Borrower shell be given by dellvering it or by mafling it by certified mai�addreased to ` ' ��`�;
<br /> Borrower et the propeny address or eny other address that Borrower has given to Lender. Borrower wlli give any notice to Lender by certified . i � �'.�y�.. '
<br /> mall to Lender's address on page 1 of this deod of trust, or to any other eddreas which Lender has designeted.Any other notice to Lendor shail ��'°�•�-• ='•�-r:
<br /> be sent to Lender's address as atated on page 1 of this deed of trust. �''""~�:;,. ' ,
<br /> Any notice shall bo doemed to heve boen givon to Barrower or Lender when givun in the manner stated above.
<br /> � 19.Tramf�r of th�prop�rty a►�B�n�ftciu Int�nat tn the Borrowtr.If all or eny part of the property or any interest in it la soid or transferred
<br /> � wlthout Lender's prla written conaent, Lender mey demend Immediate payment ot the secured debt. Lender mey also demand immediate
<br /> i payment if the Borrower is not e natural person and a boneficfai Interest in the Borrower is sold or transferred. However, Lender may not '
<br /> 1 demand payment in the above situatio�s if it le prohibited by federal law as of the date of this deed of trust.
<br /> 20.Reconv�yance. When the obligatfon secured by tlus doed of trust has been paid,and Landar hus no further obliqation to make edvenCes
<br /> undnr tho instrumonta or agreements secured by this dead oi trust,the Truetee shali,upon written request by the Lender, reconvey the truat
<br /> , property.The Lendor ehall deliver to the Borrower, or to Borrower's successor in interest,the trust doed end the note or other evidence of tho
<br /> obligation so satisffod.Borrower sheil pay any recordation costs.
<br /> �i. ouawwvr irvsi��. �onuor, ai �o�iudi'b J ii4���, iuo 'oii�Gvn it�ninn di��u 6y�xii�ii e euo�voavr i��eioo vy iirai, rnuiiin� u c�py oi iim r -• �- ---
<br /> substitution of trustee a�requlred by applicablo raw, nnd tXen, by filing the subetitution of trustee for record In the office oi the regleter of desds I
<br /> of onch county in wfdch the truAt property,or somo pert thoroof, ia situqtod.The successor trustee, without conveyance of the property,shall I
<br /> succood to oll tho power, dutios,authonty and titlo of tho Trustoe nemed In tho doed of trust end of any succossor trusteo.
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<br /> 9ANKEHS SYSTEMS.�NC..ST CLOUD.MN 68901 11 BOO 397 43s11 iORM OCP MT6 N[6ii 9�91 (
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