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<br /> 1, Peym�tKS. 8onov�ar agreas to make alt paymertta on tho sscured dobi when due. Unioas Bonower and Lender agree othervv�se, any
<br /> pa�tmente Londer receivas from Borrower or for Borrower's hertefit wiQ be aDD►ied first to any amounts Borrower owes on the secured dabt � -� � .
<br /> ,� exGusiva ot irtterast or principa�,seoond to interest,and then to prineipal.If partial prepayment of the secured debt occurs for any reason,it will �• � �;�'
<br /> . 1 not reduce or oxeuse 9�/schat�a@��sqmo+�t unUtthsr-.ZcureA deEi is paid in full. t :
<br /> f Z,C{y;tn9 qQrt�ntt T(t1�.Bpnower�iil pi�$U ta�ces.assessmerrts,and other charges attributeble to tha property when due and will detend tiUe � � •
<br /> ± defonsea whicha8oaower�y haVeN 9afnbt DertiesDwho suPPhr labor o�r meterias N impr�ove oe ma nia�n the prop rty��g�any rights.claims or ; �.
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<br /> I 3, �yppnc�.Borrower will kesp the proparty inaured under terms acceptabta to Lender at Borcower's azpanse and for Lender's benefrt.Ail = • � ,
<br /> insurance poticies shali include a standard mortgage clause in favor of Lender.Lerxler wiil 6e named as Ioss payee or as the insured on any such
<br /> , , � insurance poticy.Any insurancs Droceeda may be apptied,within Lender's discretion,to either the restoration or repav of the damaged property
<br /> or to the secured Qebt.ff Lender requirea mortgage msurance,Borrowar agreea to maintain such incurance for as long as Lender requues. �
<br /> � `� 4.Prap�rty.Borcower wiil keap the property in good condition and make ail repairs reasonabty necessary. i , ,
<br />• � 6.F.xpensea.Bonower aflrees to pay atl Lender's enpenses,including roasonabte attomeys'foes,'rf Bonower breaks any covenartts in this deed ` �.
<br /> ot trust or in any obligaUon sewred by this deed of trust.Bortower will pay these amourtts to Lander as provided in Covenant 9 of this deed ot i •
<br /> uust. ,.
<br /> 8.Prlat S�eurlty tr�tu�sri.UnRess Borrower first obtains Lander's written conserrt.Bortower will not matce or permit any changes to any prior • �
<br /> securfty ir�tereste. Bortower wilt pertorm a!I ot Barrowe�s obligations under any ptior mortgage, dead of trust cr other securtty agreement. •
<br /> _ including Bonower's covenants to maka paY�nems when due. � , �
<br /> 7,/►sN�nm srtt oi R��and PrBfrtt.Borrower assigns to Lender the rerns and profrts of the prope+ty.Unless Bortower and Lendet have agreed
<br /> othervv(se ie wriUnB. B9rmwer may collect and retain ths re.^.2s as long as Bortower is not in defautt If Borcower de9autts, Leada►, Lender's . . _ ;
<br /> ega�rt,or a court appomted receiver may take possession and manage the property and collect the rents.Any rerrts Lendaz coltects shall be • .
<br /> � nppeeessary re ated expen es�The remalning a o rrtYof ents�nn"ll then apply to payrnerttseoi,th ecure�deht as prov3ded�ingCovena^id'any other ?. '. �` `' •��'
<br /> 8.L�as�fiolds:CondomWums:�nn�d Unit Devdopmsrrb.Borrower agrc�a t�eomply rs^�t►�e pcov�+�ions of any laase if this deed of ue.st is on • ,t�=
<br /> a Isasehold.If this deed of trust is on a unit in a condominium ar a pfac;�25 unit davear:asrrt,Borrawer vmll perform alt of Borro�^rers du0es . ��-�-,.'.;=
<br /> under the covenanta,by-Iaws,or regutationa of the condominium or planne9 unit davelcy~�t. �, '. �•.s�:
<br /> 9.Authority oi L�nt�t ta Perfasm tar Borrow�r. If Borrevver fails w�perfarm arry of Ba-rower's cfuties under this dead of t�rtist, Lender may ". : , .�.,.��,�i-'
<br /> perfortn the dutlea or cause them to ba perfortned.LsnC2r may s3gn Barrower's name orpa y any amour�t if necessery fc:perfor�ras�ce.If any s`
<br /> conswetion on the proparty is disvontinue3 or nut earrie�o:�in a reasonable manner,Lender may da whatever ia nseessary ta prc*�_�Lender's . �� �
<br /> security irterest in the property.This may:::,:'.ude tompledng the construction. � ;;��^t�'�' � . '�
<br /> Lender's failure to perform will not precl4�lnnder tram exercising any of ita other�ights under the lavn or this deed of trust. ���i�f�- �y y_,'�
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<br /> Arv amourrte paid by Lender to protect Lenders secv.r.:�y s:�terest will be secured by this deed of trust.Such amounts witl be due on demand _
<br /> and will 6ear interest from the date of the paymertt u��pa'r�In full at the interest rate in e4fect on the secured debt. � � .. �� --
<br />� 10. DNw1t�nd Acutsradon. I7 Bonower fails to make any payment when due or breaka any covenartts under ih:s daed of trust or an . ^� '�`��
<br /> y a`�::-:q�`y�?,y,,
<br /> obligatfon sacured by this deed of uust or eny prior mortgage or deed of trust,Lender may acceterate the maturity of the sacured debt and , _ , , ,3,-*,�
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<br /> demand immsdiate payment and may inwke the power of salo and any othar�emedies parmitted by appticable law.
<br /> 1 17.R�q�:es2 L�a NoUs�of CdaiAt.It ia hereby requested that eoptes ot the notices of defauft and sale be se�t to each person who is a party ,�`�'".•'�'•.
<br /> • hareto,at LY�aaJress ot each such person,as set torth horein. . • ' :�� -
<br /> 12.Pow�►of Sa(�.If�r��R�der inwkes the power of s�le,the Trustee shalt Crst recor0 in the of8ce of the reg�.s�s:c:"r deeds of eacfi anunty �"'��. �� l ,;,
<br />' wheteln the trust property or some paR or parcel therea°is siwated a noUce of defauSt eantalnlnp the Informatlon:e�:�vj by law.Tra Trustee , _ �" -::
<br /> shall also mail copiea af the notice af default to the Basawer,to each pereon who is a party heram,and to other Oe►sens as pr�ir�.bed by fq���'':s _�:;`'
<br /> applicabte Iaw. Not lasa than one moMh after the Trustae rocorQa ths noUce of defauk,or two mnaU�a if the trust property is n�t in any ^� ;; ,
<br /> ' incorporated city or vfllage and is used in farming oparations carried on by the truator,the Trustee sha::give publlc notice of aele to�:e persons �
<br /> end in the mannsr Drescritted by�eADD�j���a law.Trustee,without deman d on Bortowe�,s ha l l se l l t he propa rt y a t p u b l i c a u c t i o n m ffi e h i g h a s t !�•,
<br /> � bldder.lf requhed by the Parm Homestead PtotecWn Act,Trustee sfia(1 oNer the praperly in two separete salea e8 requir8d by aDP���ble law. l�r� ��" . . ��� '
<br /> Tru.tee may postpone sele of all or any parcet of the property by public announwment at the Ume and place of any prevlously scheduted sale. .:� _.
<br /> Londer or its desi�ea may purchase the praperty at any sale. ��` •t
<br /> Upon roceipt of payment of the price bld,Yrustee shalt deliver to the purchace►Trustee'e deed conveying the property.The rociUats conta(ned in i{� v:,, �:• __
<br /> Trustee's deod ahall be prlma facla evldience of the uuth ot the statementa conteined therein.Trustee shall apply the D�acesds of the eals in tfie :�,;;�,, �„ �.� ,f
<br /> tollotirlrtg ordor: ia1 to all exponses o! the eafe, inctu�ng, but not Gmftod to, roasonable T►uatee's fesa, reasonable attomey�a t`eea and ,.;,�.,,��i,�����" '�_;.y��b.
<br /> - refastatemerrt feas;(b)to all suma secured by ttila deed of uust,and(c)the balanw,if any,to the persana legally entltled to receive ft. �,>>�,. - -
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<br /> 13.Foraefoatu�.At Leader's option,this deed of o�ust a,z�y 6e forectosed in tha manner provlQe by appticabte taw for forodosura of mortgages �
<br /> � on reaI property. �•�����:-
<br /> 14.Ins�1 on.Lender may enter the proDerty to inspea it if Lender gtves Bonower notice beforehand.The notiee must state the reasonable a~ •,�;-_
<br /> cause of r Lender'a inspectbn. � 'V4' '' �
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<br /> 7 6.C o n d�n a d a n.B o r t o w e r a s s ig n� a t o l r r�the proeeeds of an y award or claim far Camagea eerrra_�ed with a condemnation or othor taRing ���'�'r
<br /> of all o►eny patc of ths praperty.Such prowada will I�e rrz�-�,plied aa provlded in Covenar:t.Yhls ass.�-rent is subject to the terma of any prlor ��Y!�.�
<br /> '"+�. SBWtity 8pteemEM. . -
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<br />. 18.Walw�.By exercising any remedy aveila6te to Len�ar,Lender does not gtve up any rlghts to later use any other remedy.By not exercising ,,��. .F
<br /> any remedy upon Bortower's Ce4ault,�ender daea not waive any Nght to later conslder the event e defautt it it happens again. . ,��'���'
<br /> • 17. Jdnt�rb S�vsat LI . Co�sl�n; Suce�saon�nd Asslpns Baund. All dutlea under thls deod of trust are joiM and several. Any ' ��� �—
<br /> ��'� Bonower who co-stpns thia deed of tr.�t but doea not co-slgn the��dedyIng debt instrument(s) does so only to grant and convey that : �'�,��y1;����r;"
<br /> � BoROwer'a interest In the property to tha Tvstee under the terma ot thr�deod of vust.In addition,auch a Borrowor agrees that the Lender and
<br /> ' any other Bortower under thla deed of trust may extend,modi�or make eny otfier ehangoo i�the terma ot thia deed of trust or the secured ' '��"- �"
<br /> � ! debt wlthoat that Bonower's consent and without rete2:iag that orrower from the tetms of tfils deed of trust. . � �"'�_
<br /> The duUea and benefrts of thia deeA ot trust eha0 bin�ar,�_Venefit the Buceessors and asstens of Lender and Bortower. � � ;��
<br /> ; 18.Hotics.UNese othorwlse requlred C��'w,any rto;�o to Barrower shall be ptven by detivering it or by matting it by certlfied mail eAt�ressed to • -
<br />� ; Borrower ai the property addross or a�. aN:er address that Bonower has pIven to Lendet.Bonower wtll plve any notice to Lender Dy certified � • • �
<br /> mai!to lendete aderess on pape 1 of��3 deed of tr�,or to any other address rvhleh Lender has daslpnated.Any other notice to lender shall ". '. '
<br /> be serrt to Lender's aQdre��s as atated on page 1 of�;�flafld of trust. . �.
<br /> • Any notice ahatl be deem�l co have been glven to Borr�aror or Lender when given in�manner stated ebove.
<br /> � 79.Tronstu of th�Prapfrty a s Bsnstlelti bUu�st in C'�Qortowa.ff all or eny part c�1 the praperN or any interesi in it i�sold or transfened .
<br /> without lezuofa prlor written consersi, Lsnder may Qemand ImmeC:a'ta Dayment ot the socured debt Lender may atso demar,d immediate . • � �
<br /> payment if the Borrowar is not a nat�af person and a beneflcial cr�-�t in tAe Bonower is sotd or transtened.However, Lertdm may noi ;
<br /> demand pa}moM in the abo�e situation9 d�t ia prohibited by federal lavt.��of tha dat9 ot thia deed ot trust.
<br /> 20.tlseem�yanes.When the obligation secured by t�ls deed ot ttust has beon p2:.d.and Lender has no turther obligation to make advancos • —
<br /> under the instrumente ot a reamonta secutod by thia deed of trust,the Trustee sha.t,upon written request bY the Lender,reconvey the trust •
<br /> ptopeKy.7he Lender shall�ativer to the Bortower,or to Borrower's successor in interest,the trust deed and the note or other evldenee of the .
<br /> obligaUon so saUsflod.Borrower ehall pay ony recordation costs. . . .
<br /> 21. Suce�saor TtustN. Lender, nt Lendor's o�tion, may remove Trustee and appoint a successor busteo by tirst, meiling a copy o!the
<br /> substitution of trustee as required by appficablo aw,and thon,by fiting the substitution of Vustee for record in the offlce of the register of deeds
<br /> of oech county in which the trust propertyr,or aome part tfioroof,�s sftuated.The successor uustoe,without conveyance of the Oroperty,shall
<br /> � ."� sueeeed to alt the power,duUea,authoMy and trtle of the Trustoe named in the doed of trust and of any succescor vustaa. � .
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<br /> . � BANREflS S15TEMS.�NC..ST.CLDUD.MN 66301 Il$00397-]3N1 f-0HM OC�GTT6NE Bi19H1 __ ___ �� . '
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