|
, .. . - � - � - . . , . . . . ._ ..- ...;_.,, ... .. _ . .� -.f..
<br /> ' . . �_...... .._._ . . � • ' ' !. � . ' �`� , . � �y�.
<br /> �
<br /> ' 97� �1O�'�'�9 � . ,�
<br /> CDyENAM3 .
<br /> �
<br /> � 1. Paym�nts. Bortower agrees ta make s[I payments on the sscurod debt when due. Unless Bonower and Lendar agres otherwue, any r �' ' -- � ~
<br /> paymeMS Lendar roCeives ham Bartowar or fo�Bonawer's benefrt witl be applied t'vet to any amouMS Borcower owes on the secured debt f. 4 �'�
<br /> axciusive of interest or Drincipel,setond to intereat,end then Lo pnncipai.If partial p�epeyment of the secured debt otcurs for any reason,it wilt .
<br /> : not reduce or excuIIe-m�q scheduted psVmen4 un�il tt� wred debt is paid in full. (
<br /> 4 2.qalms qpalnst�tU�.Borrower wilt pay a41 tang� rl�essmante,and other cherges attributabte to the propertlr when due and will detond tnle �
<br /> � to the property ag s�nst Y.a�aima which woutd iMpair Efie lien of this deod of bust. Lender may require Bonower tv aaaign any rights.claima or
<br /> detenses wh�ch Bogom�tr�e�thave against petUes�ttt0 gupply labor or matorisls to improve or ma�rrcain tha proporty. �
<br /> �b..._
<br /> 3. Imurane�. Bortower will koop thn property insured under terma eeeepte6le w Lender at Bonower's expense and for Lertder'e bonefit. All � .
<br /> � �nsurance policiea ahaB inetude a standarA mort age cieuse in favar of Lender.Lender will be nttmed as losa payse or as the insured on any euch � -
<br /> • o to the seeured debti If Lender�eq�eresamor[gags iruu an e Btor owei agrees to main aein suchhnsu an e for as tong as L.ender�equies rope►tV • '
<br /> 4.Property.Bonower wiil keop the proporty in good condition end make ail repaira raasanabiy necessary. �
<br /> f��n any obl'igat3on secured by�thia deed of�trust.Borcowe�r w II pay theae amoun�ts oeLender�as D o'ded in Covenant 9 of this de d o! E , I
<br /> � 5 .
<br /> � 1
<br /> �, lTY$t- 7 � - .
<br /> � 6.Pdw S�Ctttitlf�sb•Unless Borrowar fust obtains Lender's writte�consent, Bortower wiU not make or permit any changes to any prior , ,
<br /> ' security interasfs. Borcower wili perform aq oi Borrowar's obligations under any prior mortgage, deed of trust or other security agreemant, , _
<br /> �� induding Borrowefe covanunta to make payments when due. '
<br /> � 7,Aa1�nm�cst o4.R�crts and Ptofits.Bonower assigns to Le�der the rents and profits af tha property.Untess Borrower and Lender have agreed ,,r;,:..,, �i
<br /> othflnN�se in writmg,Borrower may eoilect and retain the rerrts as long se Bonowsr is not m dsfai:.� If Borrower defaufts,tender, Lender's . �;_
<br />" •;� agent,or a court appo�Med receiver may take possession and manage the propeRy end tollec:t^�ra�nts.Any reMS Lender collec[s shall be : ". �._
<br /> '. ;� apptied first to the costs of managing the �roperty, inciuding court wsts and atLOmays'fees. cco,r::-:ssions to rentai agetits,anA any other ,b.._; • .f,* .`.
<br /> necessary related expenses.The remaimnp amount of rertts will then apA�Y to paymerts on the secura�debt as provided in Covanar►t t.
<br /> ... o _ ; :!-..n'�.'%a^_.
<br /> t '� g.�yy���;C�;plsra��Jnf!Dsvafopmoists.Borrovler a�w ton :���+rith the provisicns oi any tease if this deed of uust is on + _ � _
<br /> . ;, a laasahol3•if Ynis C�a�of vusi is cn a unit in a condominium or a p anned unk�avelopment,Barrower wiil pef.arm all of Borrower's dudes . �. :
<br /> ;;� under tho cavnna�s,bv:aws,or reg�^aaans of the condominium or planned unit devaiopmern. V m� �
<br /> g,pu�ity of Lsed�4a p�rfarm fcr 133r►ow�r.If Borrowe►fails w R erform anY of Bonowers du�xs under this daed of trust, LenGer may . '" °;,�
<br /> ��! parform L'v�duttes or cause them to be performe d.L en der may s ign gorrow e r's n a m e o rp a y a n y a�u i tt i f n e c e s s�r y f o r p erfarmance.If an y •„��;_ -
<br /> .�� construction on the G�apzrty ia diswntinued or not certEed on in a reasonabls mannar,len der may c`�whatsve:is necessary to protee4 Lender'e ;-;_:�.,.
<br /> sewriiy interesi in tt�pra�erty.This may include wmpleting the construcNon. F � -
<br /> ,�},��r��:
<br /> Lenders faiture to pc�,-`3^n will not Dreclude lender fr�m exercising any of its other r�r3hts under the law ar this desd of trust � , , - -;`C�;;,,�
<br /> � ��q amourns paid by Lender to protect Lender's security interest wi�i ara secured by ths deed ef trust.Sueh amoums wilt be due on demand ' ; 'f ,�';i;�_..
<br /> and wili bear irrterest from th0 date of the paymeM until pa3d in full et the interest rate in effect an tha secured debt �� �""'
<br /> � ' 10.O�fautt and AecotoraUon. If Bartower faits to make eny payment when due ar breaks any covenants undar this dee3 of trust or any , � t�';.�•-�;;.:,
<br /> '� 'ti obiigaUon 8ecuted by this Qeed of trust or eny prior mortga8a or deed of trust,L�snder may accelerate the maturitY of the sacured Qebt and . , � -
<br /> demand immediate paymant and may ir rake tho Dowar of sale and any other remedias permitted by applicabte law. ��� ', ' !�
<br /> �1,R��wt to�P�Iottw of QofeuI4.It ta hereby requested that copies ot the notices of defauR and sale be sent to each pereon who is a party �` �'•�j�`'=•��;``'
<br /> .. �J:•;• ��1"• G �,-. A-
<br />• hereto,at tho addresa of each such person,as set forth herein. • `�"��"'"�"� �
<br /> '. �.=>•:t�.F,•r�• .
<br /> `r;':r�;/�!`•:, i-�:�'"'
<br /> �:.°�Y�
<br /> 12.Pawu o!Sstt.If the Lender invokes the power of aete,the Tniet�a shall flrst record in the offica of the register ot Qeeds of each courtty :;,�. {,'•'�L, ,!�, i,�.�•:,
<br /> wharein the trust property ar some part or percel thereof is situated a naUCe of defauit containing the irrfartnation reqwred by law.Ths Tnistee �':rf�rFx ,`+ ., ?,��t ;
<br /> shait aiso mail copias of tfie notice of dotauit to the Borrow8r, W each person wfio is a party hereto,and to other persons as presc.�ibed by �" r,:�t
<br /> appiicable law. Not less th�n one manth efter the Ttustoa records ffie notice of dofauk or two montha if tha trust property is not tn any , '..'��'�;.
<br /> incorporated city or viltage and is used in fertning operaYorts ca�►ied on by the trustor,the�rustee shall gtve pubiic rtotice ot sala to the persons ,. ,�
<br /> , '; and in the manner presc►ibed by apppiiceble law.Trustee,wiihout demand on Borrower,shail sall the property at pub►ic auction to the highest. . '� �
<br /> bSdQ6r.if requirad by ths Farm Homestead ProtecUon Aet,Truatee sha11 oHer the propetty in two separate salea as requfred by applicable law. � : �� '.,�iF
<br /> s Trustoe may postpone aate of all or any parcel of tha property by pubiie a�nouncement at the Ums anA place of any prevfoualy aeheduled sate. _ ,�3�
<br /> : ; Lender or its designee may purchase the property at any saie. ;. l
<br /> .a..k ._.�.
<br /> - >>- + x
<br />' i Upon receipt of paymant of the ptice bid,Trustee aha0 deiiver to the purcheser Ttustee'e deed conveying the property.The rectUals corrtained in ,.,, ,
<br /> T�ustee's deed shall be prima facie evldienee oi the uuth of tha statemente cantalned therei�.Trustee sha11 appty tha proeeeds of the sate in the ��
<br /> foitowing order: (a) to atl expeases of the sale, includinp, but not Hmited to, ►easanabte Trustee's tees, reasonabte attor►seys teea and • ����`_;
<br /> rainstaumortt fees;lb)to ail sums secured by th(s deed of bust,and fa)tha balance,ff any,to the persons lagally entiUed to roceive it. �"
<br /> 13.Fw�dotur�.At Lendere opUon,thia deed of trust may ha foreclosed in the mpnner provide bV 80D�icabla Iaw for toractosure of mortgages �-� ��{�+���
<br /> � on roal property. �'"�
<br /> I 7q,Insp�cdon. Lender may enter the property to inspect it if Lender gives Eorrower noUce betorehand.The notice must state tha reasonabte �'� �'
<br /> ' ' cause Tor LendePe inspectlon. ''
<br /> � .�'.-, `.-
<br /> ar_-
<br /> 15,Cond�mnation.Botrowet essigns to Lender tho proceeda of any award or ctaim for damages eonnected with a ecc�.demnetion or othor takirtg ;�
<br /> of all or any part ot the proparty.Sueh proeaodo will ba applied as provMed in Covenant 1.This assignment is�:qjert to tfie terma ot eny prior . �
<br /> secutity agreement. � '""'�' "�
<br /> :.'z�'���_,_.....-_
<br /> ° any remady u�pon 6ortowere det uit,°Ye�ae�ao s�not wa(v any ti8 t to lato9consi�at th event e�n.1<rf ii R�:ena agalny ��ot exerelsing �r^. __
<br /> _:!-�`�,--��
<br /> • 77,Jdnt�nd S�vKal L! . Co-tl�Rwns; Suee�sson�nd Ass1{�s Baund. All dutlea under ttria �eed of m.�c are joint aad sevaral. Any ,.,,,;:'�,` ;.
<br /> Bortowar who eo-sipns thia deed ot trust but daes not co-sign the unde►lSriny dabt instrumerrcts) Qoee so c�!•�to grarrt and convey thzt . ;�;,•�.,�:
<br /> Bartowefa 1Mereat in the property to the Trustee under tfie terma of this dead of bvsK.ln add'Non,sucfi a Borrower agrees that the Lender a�d ,_. . _.. . rr;::.;•,�
<br /> any c3'rmr Bortowar under this dead of uust may extend,mod�or make any other cha�es in the t9rms of tfils deed of bust or the secured �`+j'r.•: • .. .��,_i
<br /> ' dabt av:r+��ut thai Borrowere consent and without roteasirtg that ortower from the terms o tfiia deed of trust. -
<br /> � The C�r✓�and benefits of this deed o!trust aha0 bind and benefit tha successors and aasigns of Lender and Bonower. � ��#�����
<br /> 78.NoBe�.Unlesa otherwise required by law,any noUce to Bonower shail be give.�t�y deliveNng it or by,mailinp it�y cerUfied mail addreased to :.;;;�:�.r,
<br /> � Bortower at tho propeRy addreas or eny other adQrosa that Battower has gtvan rn�.�rrder.Bortowar will give ar.u+=mtice to lenQer by certified � . _
<br /> � mail ta 6snAer's adQresa on page 1 of this deed of uust,or to eny other addrese vu"�r:.t+Lender has desipnated.Any other noUce to Lander sha7 � �, • .
<br /> de s��o Lender'e addres�as staud on page 1 of thi�deed of trus� �� � .
<br /> ��i ,
<br /> �• Arry r.c^.�ce ahail Ee deemed to have been piven to Bonower or LenQer when piven in the menner stated above. ' , _� _;j
<br /> 19.Transt�r o1 the Pteze►ry or�B�n�flelat Irtar�1�ttw Bomowx.lf all or arry�art of the ptopertv or any interest in h is sold or uansferred `' _
<br /> .� without Lender's prtor written consent, Lender rtsev �emand immediaie paymor.S af tho securad debt. Lsndor may atso dnmstnd immediato . . _
<br /> demand piaymengin theeabove situaUo er if itp is p ohiti ed by federet law a9 of the date of this deed�of�ustanafened. However, Lender meV not
<br /> 20.R�eonveyane�.When the obligation seeured by this deod of trust has boen paid and Lander has no further obiigation to make advances � �
<br /> under the insVumerrts or agreements socured by this daed of trust,the Trustee shaif upon written tequest by the Lender,reconvey tAe uust .
<br /> praperty.The Lender sha11 detiver to the Borrower,or to Borrowar's successor in inierest,the trust deed and the note or other ovidenco ot the • _
<br /> obhgaLan so satisflad.Borrower shatl pay any recordation costa. —
<br /> 21.Sueassw TrustN. Lender, at Lender's option, may remove Trustee and appoiM a succossor trustoo by first, mailing a copy of tho ,
<br /> substitution of truslee as required by applieabto Iaw,and thon,by fiiing the substituUon oi uustee for record in the office of the rogister o}deeds
<br /> • o!each county in which tho Vust property,or some part theroof,is situated.The suceessor Vustoe,without convoyance of the property,sAall �
<br /> suceead to all the power,duties,authority and tiUe of the Trustee named in Mo deod ot trust and ot any succossor trustee. .
<br /> fpage 2 oJ 21 � . `
<br /> � BMlXEHS SYSTEMS.INC..ST�ClOUD.MN 8830�It$0O-397-23411 FOftM OCP�MT0.YE B/7997 ___ ��
<br /> ]
<br />. _� : ._. ._. . ". ' .
<br /> I � r'_
<br /> � �
<br /> _ _'__ - . . . . . . �"-�-,".�.� ..-.�.�� �, �..
<br /> - , , • ., ."°�." , . . .. . . . .• • ,� ' �r: . ` • °. : I�.
<br /> . . . .. .. , • -- • .�' • � , . .. ...'. . . ' . , . ��. ' . . • , ,. . . ' • . .
<br />
|