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<br /> � ; cov�ruTS . ; ..
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<br /> 1. Peymerts. Borrowar agrees to make all payments on the setured debi when due. Unless Borrowor and Lender agres otherwise, any �.
<br /> peyments Lender rece�ws from Bonower or for Bonower's benefrt will 6e ayplied first to arry amounta Borrowor owes on the seeured debt � . _
<br /> ' e�n:ius�ve of intereat or pnncipal,second to iMerest and then to principai.Ii partiat prepayment of the secured debt occura for any reason,rt wli
<br /> � not reduce or excuse any sch�l:.�pay.nont until�r.�curad debt ea pa�d in fuH. � . '
<br /> s2.daims Aqair►at'Rtfe.Borrowei wUl pay all taxeo.asspssments,and other eharges attributahie to the property when due and wiU defeod title , `
<br /> to ths property agamst any d�ims Jvhlch would impgir tre 11en of this deed of vust.Lendsr may reqwre Borrower to assign any rights.Gaims or s � .
<br /> 5 defenses which Bortower may�SVe egeinst part7es who suRP�Y�abor or materiais to improve or ma�ntain the property. • _
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<br /> 3. tnsurance. Borrower will kesp tfie property insuted under terms acceptaDte to Lender at Borrower's eupsnso and for Lensler's banefit. Afl � �
<br /> ' t insurance policies sha19 indude a standard mortgage clause in favor of Lender.Lender will be named as loss payee or as the iruured on any such , � -
<br /> , insurance pohcy.Any insurance proceeds may b9 appiied,within Lender's disaeUon,to aither the restoration or repair of the damaged property � ,
<br /> � or to ffia secured debt.If Lander requires mortgage insurance.Bonower agrees tn maintain such insurance far as long as Lender requires. •
<br /> � 4.P�oparty.Bonower wilt keep the property in good cond'stion and make all repavs reasonabty necessary. '
<br /> S.E�ponsoa.Borrower agrees to pay all Lender's expenses,including reasonable attomeys'fees,rf Borcower breaks arty cove�anta in this deed � • •
<br /> j of trusc or in ar�y obtigation sacured by this deed of trust.Borro�ver uvi11 pay these amounts to Len�er as prov�ded in Covanant 9 of this desd of .
<br /> trust. i
<br /> 6.Prlor Sewrlty IntetQSts.Unless Borrower first obtains Lender's written conse�!. Bonower will not make or permit any changes to any prior 4 `
<br /> security interasts.Bonower will perform all af Borrawer's abCgations under a y �ior mortgage, deed of trust or other secunty ag►eement � `
<br /> inctuding Borrower's covenants to make paymerts when due. • �
<br /> ;� 7.Astlptwnettt of Rwtto and Prafito.Barrower assigns to Lender tha rervts and profrts of tfia property.Untess Barrowar end Lentter have agreed �� ,
<br /> _ � otherwise In wrfHng, Borrower may collect and retain the rerrts�s tong as Bonower is not in dafault.If Bovower defauFts, Laader, Lender's . ;
<br /> agerrc,or a court appoirrted receivet may Yake possession and manage the properiy and coUect the rents.Any rents Lander coltecta shall be ;
<br /> applied first to the costs of managin� the property, including court tosts and attomeys'fees, camm�ssions to rental agerrts, end any other . . .,
<br /> necessary related expenses.The rema�mng amaunt of rents w71 then apply to paymenTS on the secured debt as provided in Covenant 1. � ; . .. ''
<br /> 8.LoasQAotds;Condominlum3;Ptannad Unit Dovelopmerrta.Borrower agrees to comply with the provisions ot any lease if ffiis deed ot trust�s on � � ` ';"'�"`�•`.
<br /> a leasehold.if ihu dead of trtrst�s on�unii in a candommi�.n ar�plannad unit devetopmant,Sonower wiG partarr.�ell of Bortower's dutiss � .
<br /> under tha covenanu,by-Iaws,or regulations of tfie condominium or planned unrt development. � ,'� .
<br /> 9.Authocity of L�ndu to Pufarm for Bortow�r. if Bortower fails to perform any of Battowers duties under this deed of vust, Lender may '' ' . � •
<br /> perform the duties or cause them to be performed.Lender may sign Bortawer's name or pay any amount if necessary for performance.If any . .
<br /> consUUCtion on the proparty is diswntinued or no4 tarrled on in a reasona6le manner,Lender may do whatever is necessary to protect Lender's _-
<br /> sacurhy interest in tfse property.This may include completing Me consmicNon. - -_-
<br /> Lender's faiture to perform will not preclude Lende�trom exercising any of its oth�rights under ffie low or this deed of trust. • �r��'` .�
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<br /> Arry amouMS paid by Lender to protect Lenders security interest wilt be secured by this deed of Vust.Such amounts vrill be due on demand ' � .:-.!,v�
<br /> and will bear intereat fiom the date of the payment until paid i�f�:si the interest rate in effect an the secured debt.
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<br /> ' �p,Q�fatdt and Aeeat�rattan. If Bortower fails to make any pa4,:..3m when due or breaks any covenants under this deECf af trust or any . �: •X� ..:
<br /> ' obligation secured by this desd of uust or any prior mortguge or deed of trust,Lender may accelerate the maturi4y of the sacurad debt and '�-�,(K,;
<br />� .� demand immediate paymerrt and may Invoke the power of sale and any other remedies permitted by appticable Iaw. �� •
<br /> ' " i of the notices ot defauk and sale be sent to each erson who is a a � �..�'.,. .� �`!� � �
<br /> 11.R�qu�at lur Notiee of Dsfa�Et.k is hereby requested that cos es D P nY � ;�
<br /> hsreio,at ffie address of each such person,as set forth heretn. '.• • . ';.
<br />� � 12.Power o!S�ts.H the Lender imokes the power of sale,the Trustee shall first record in me affice of the register of dse�s of each county '!��'7,',•f;-�, �
<br /> wherein the trust property or some part or parcef thereof is situated a noUce of default wni�ining the intormation required by law.The Trustee '��}r: �i.� ,_; �
<br /> shaH also mail copies of the notice of default to the Borrower,to each parson who is a pa-ty 4areto,and to other persons as prescribed by , •�� �� ,'.
<br /> applicabte law. Not losa than one month after 2tuj Trustee records the notice o'f defauft�or two montfis if Yr.e trust property is not in any :
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<br /> incorporeted city or village and is used in farming o�a-avons carcied on by the iruscor,the rusteo shall gtve¢cfn��c notice of sale to the persons •� . �� ,,�'?''�
<br /> . and in the manner Rroscribed by appptiea5te law. Tn.stee,without demand on Barrower,shall sell the proparqr at public auction ta the highest , .` �".::�2�
<br /> bldder.If required by the Farm Homestead Protection Act,Trustea shall offer tha property in two soparate safes as requne�by applicabte Iaw. t: , . . }'�' ���,•
<br /> . Trustes rt►ay postpane sate of all or a�y parcel of the property ty��blie announeement at the time and place of any pre�:n�1y achaduted sate. ;�-- 9 :.; .
<br /> LenQet or ita designes may purchase ffie property at any sale. `��;�'"'-" '�
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<br /> Upon reeelpt oi paym ent of the prlce bld,Trustee shall deliver to the purchasar Ttuuiee's deed wnvaylng the property.The ra:.it�als wrttafned in '��{��
<br /> Trustes's deed sRall ba pdma tacie evidience of the uuth of the statemems coatained therei�.Ttustee shall apply the proceeds af the sale in L?`a ' • ��' , _
<br /> followinp arder. Qa) to all enpeases o! the eate, including, but not IimiteG ta, reasonable Trustee's tees, reasonable attomey's foes �-� � ;_�_
<br /> refnstatemerrt tees_E��to at!sums secured by this deod at trust,and(c)the ba�anca,if any,to the persons legalty entittetl to receive it. ,.�°� ���+—�_•-
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<br /> � 13.For�clwurs.At Lender's oD�an.this desd of trust may be forectosed in the manner provida by applicable law for forectcsure of moRgagss r,.• f:�'r'1'_=
<br /> on reel property. �,`�"w`.�- --
<br /> 14.hup�oa.Leodar may enier che property to inspect it if Lender givea Bonower notice beforehand.Tho notice must state the r�asonabte :���'i�' � �'
<br /> . � cause fw lender's�-�secxlan. .. � r..�f-'-'.,'=''
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<br /> r:�� 16.Cendemnc�da:b @�-rower assigns to Lender t':a�roceeds of any award cr cia��+for damag ea connected virth a eondemnation or othar tak's^g � ', N;: _
<br /> of all or any part a��ie property.Such proceeds wi I be applied as orovided i��avenant 1•Thls assignment is subjec4 to Yne terms of any prior '!'
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<br /> security agreement. • �, ,;
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<br /> • '' 18.Waiver.By exar�dsi�g any remedy available to Lender,LeaC�::�as not give up any righ��.:later use any otfier remedy. Sy not exereising � ' t, ':�
<br /> � any remedy uFc�G:crawer's default,Londer does not waive any r:;ht to later cars�der tfie e�:Z a defeuk if h happena egei�. � . .
<br /> 17.JWnt�nd :�ua� LI� Co-a}�on; Sucustors and Astt�u Bound. l�.0 tutfes under thia deed of trust are joint and saveral. Any . � . :���'-
<br /> � t3ortowes who o3�ltns thls eed of Vust but does not eo-sign the under7�s�r�r�� �atrt instrumentls) does so onty to gra�t and convay:�at �r,�
<br /> ' Bortbwer's i�tere„�n ihe property to the Trustee under the terma of tfils deed ot trust In ad�i�on,such a Bonower agrees that tho Le�der and ' � �
<br /> any other Borrowar under thls deod of truct may extend,mod'�}y or make any other changes:�the torma of this deod oi trust or the secured ���:'�
<br /> Qebt without that Borrower's consent and wkhout releasing that Bonower bom the terms of G�deed ot trust. �(�;%%`�" � �'`�``� �`-�.
<br /> Ths dutles and bersfrte of thfa daed of trust ahatl bind end benefit the succossora and assigns of Londer and Borrower. !����'`�,��, '
<br /> 78.HoMe�.Untess etherwlse requ?red by law,any nottce to Borrower shall be given by Aolivering it or by mailing it by eertitled maU eddressed to � �'�,:', -
<br /> Borrower at the property address or any other address that Borrower has glven to Lender.Borrower will give eny noUce to Lender by certifled ' . ,��:;';,yi�
<br /> mafl to Lendar's address on pape 1 of this deed of trust,ot to any other address whlch Lender has desipnated.Any other notice to Lender shall '
<br /> � 6e s2rR to Landara address as stated on page 1 oi Ws deed of trus� ' , r . • . _
<br /> 5 Any notice shaN be deemed to have been given to Bonowar or Lander when given in the menner otatad a6ova. � :_
<br /> � 19.trwtar of ths Prop�rty or a B�n�4iels!4�taest In th�Bonow�r.If all or ony pnrt ot the pioperty or any Inte�eat in it is so:d or tran>terred ,
<br /> - without lendet'S prEOt written consent, Lender may damand immediate peymont of the securod debt. Londer may also demand immudtate � -
<br /> }� payment it the Dartower is not a natural peraon anA a beneflcial interest l.� the 8orrowor ia sotd or uanaferred. However, Lender may not
<br /> demand paymont tn the above situations if it is prohibitod by fedoral law as o!the date of this doed of Vust. :
<br /> 20.R�aonwyaneo.Whan the obttgaUon secured by thia deed ot trust nas been paitl,end Lender has no furthet obligation to maico aG�aucea � *.
<br /> undor tho Inatruments or agreements seeured by thia deed ot Vust,the Trustee shall,upon written request by tho Lender,reconvoy the trust i :
<br /> property.The Lender shall deliver to the Borrower,or to Borrower's suecessor in intorest,tho truct doed and the note or other evidence of the , —
<br /> obligation so satlsfFed.Borrower shall pay any recordatlon costs. ,
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<br /> 21. Succ��sm Truates. Lender, at Lender's optinn, moy romove Trustoe and apDOint a succossor trustee by flrst, mailing a copy of the '
<br /> i substltutlan ot Wstee as required by appticabte law,and than,bY filing the substirirtion of trustee for record in tho offica of the rogister ot deods I� ' •
<br /> of Cach county in which thn trust proporty,or somo part thereof,is situated.The successor trustee,without canveyance of the property,shall ,
<br /> succoed to all the power,dutles,authority and title ot the Trustee named in the deed of truat and of any successor trustee. '
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<br /> � � OMtRFRS SYSTEMS.iNC.SL ClOUD.MN 68301 n 80Q397�23Ai1 iOtiM OCP MT6NE Bi1991
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