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<br /> �� COVENANTS ' a7g- 1�tj�,.3�i. . •
<br /> I� paym�ents Lender�receives�from Borrower o�r tor Borrower'a be ef tuwtll bobeppl ed fldrRt to any amou ts Bo�rrower o�wes�on thfl so urod dntit '
<br /> oxcluelve ol Int�est or pnncipal,second to intereet, and thon to principal.If panial propayment of the securod debt occure tor eny reason, it will
<br /> � nat reduce or exeusa any echeduied payment until the socured debt fe paid�n full. .
<br /> � 2.C��Ims Apdn�t Rltl�• �tfoy��r wlll pay all taxee,a�eeements, and other ehargea ettrlbutable to the property whon due end will defend titio
<br /> I to the propertv�pwimt eny claimb whia�wauld Impalr the Iien of thls deed oi truet.Lender may require Borrower to assign any riphta.clelms ar I
<br /> dofeneea which Porrowet mey have agal st parties wh supply IaGor or materiais to improva or malntafn the property
<br /> . � 3. Imu�ana• 8arawer wNl keep the p►operty Inaute�under term�accepteble to Lender at Borrower's expense and for Lender's benefit.All
<br /> inaurance Doliclea ehell Includa a standerd mort age ciauee in tavor of lender.I.ender wlll ba named as Ioss payea or as the inaured on eny euch I
<br /> ,� orsto the secured debtf If�LenderPequiresRmortga8e Yns�urance�t8orro ee apreles to'main aintsuchhnsu otnCOtfor ot longias Lender�requeee roperty
<br /> . � 4.Ptop�rty.Bunower will koep the property in good condition and meke all repafrs reasonably necessary.
<br /> I of Frust or�n anYroWlBaton secured by thls�deod of Prust�Borro er wili pay theae tamounts to Lender�as provdedkn Govenant 9nct thlehdeed of •
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<br /> ' LfUBt. � '�',:_.
<br /> ' 6.Ptio► S�¢udry I�t�rost�.Unless Botrower first obtaine Lender's written conaent,Borrower will not make a permit any chAngos to any prior .1.:;,u=_
<br /> security intereeta. Borrower will portorm all of Borrower's obllgations under any prior mortgage, deed of trust ar other secunty agreement, .:if�`_^,�_-
<br /> ' Inciuding Bor►ower's covenants to make payments when due. . . :;`��1'"-`""- ^
<br /> i 7.Attl�nm��t of RmU and Proflts.Borrower aesigns to Lender the rents and protits of the property.Unless Borrower and Lender have egreed • ���'.:__
<br /> otherwise in writing,Borrower may collect and retain the rents as long es Borrower la nat in default. if Borrower defeulta, Lender,Lender's �•+�;"'"
<br /> agent, or e cart appolnted recelver maY take possesEion and menage the property and collect the rents.Any rents Lender collects shall be
<br /> neceissary relat d exp nses f The remaining mount of rents wiA then apply to paymentsean the secured debt os prov ded IngCovena td'any other ..;
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<br /> g,L�as�holds•Condominiuma;Pl�nn�d Unit D�vNopm�nu. Borrower agrees to comply w�th the provislons of any lease If this deed of trust is on •
<br /> 'n a leasehdd. I�this deed of trust is on a unft in a condominlum or a planned unit deveiopment, Borrower wlll perform ail of Borrower's duties �. Y`-,
<br /> ,� under the covenente,by-laws,or regulations of the condominlum or pinnned unit devalopment. �`:
<br /> '� 9.Authodty of L�nd�r to P�rform for 8orrow�r. If Borrower fails to perform any of 8orrower's duties under tMs deed oi trust, Lender may
<br /> � pe�form the dutles or cause them to be performed. Lender mey elgn 8orrower's name or pey any amount If neceasery for pertormance. It any :$�r_.
<br /> security ine�e t f�the propertyaThis�may Include completing the cons tuctonmenner, Lender mey do whetever ia neceesary to protect Lender's ,, ;
<br /> � �'.`°'`ti'.
<br /> Lender's failure to perform will not prech�de Lender from exercising any of its other rights under the law or this deed of trust. +:.�,
<br /> � ; Any amaunta Daid by Lender to protect Lender's security interest wlii ba secured by this deed ot trust.Such amounta will be due on demend , �:
<br /> and wiil bear interest from the dats of the payment until paid In full at the interest rate in effect on the secured debt.
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<br /> � 10. Dstwlt �nd AccN�ntion. If Borrower talis�iammortgapepor deed of teustulenderrmay acceletete theemeturity of t e secured debt and . ; �
<br /> obqgation secured by thia deed of yust or any P Y rmittfld by appiicable law. 'x'��
<br /> demand Immedieie peyment and ma Invoke the ower ot sale and an other remadles pe ;���, , �_'
<br /> 11.R�qwst fa Nodc�of D�fwit.It is hereby requested thet coplea of the notices of default and sale be sent to each person who is a party f;� r •,,fw
<br /> a IINf1fL0�et the address of eech such person,as set forth herein. _ ���" _ ;�.-�
<br /> f I 12.Pown of&ab.M the Lender invokea the power of sale,the Trustee shali firet record in the oNice of the reg�ster ot aeeda of each couniy � '�_
<br /> . �� wherein the trust property or aome part or parcel thereof(s aftuated a notice of default containing�eLO�e��Lo�oiheQ ersons�as prescr bedtby �;:�
<br /> shell also ma�copies of the notice of default to the Borrower, to each peraon who is a party h P
<br /> • F� eppllcable law;Not less than one month after the Trustee records the notice of defauit or two months if the truat property Is not in any
<br /> #� incorporated cily a villa8a and is used�caWe I�aw�i�rusie�e�v�tn utddemand ont8orrower�hrailt ell t el�property et Public auctlon tott ePhigh st ��
<br /> and In the rnenner prescrlbed by appp yp,
<br /> bidder. If required by the Farm Homestoad Protection Act.Trustae ublic anfnouncement at the time and place�of anyrp evio�s y e�n auiea 8a a. �'�
<br /> Tructee may postpone sale of ali or any parcel of the property by p '�. :
<br /> Lender or its designee mey purchase the property at any sale. rr,..
<br /> Upon receip t of payment of the price bid,Trustee shall deliver to the purchaser Trustee's deed conveyfng the property.The recitinis contained in
<br /> Trustee's deed eheli be prima facie evidience of the truth of the statements contained therein.Trustee ahail apply the proceeds of the eale in the
<br /> ' foliowing order: (al to eli expenses of the eale, including, but not Iimited to, �eaeonabiR Trustee's fees, reasoneble attorney's feos and
<br /> relnatetement fees;(b)to atl sums secured by this deed ot truot,and(c1 the balance,if any,to tho persons legally entitled to receive(t. �,�� _
<br /> F�M�:�•�
<br /> , 13.Fonclosun. At Lender's optlon,this dead of trust may be foreclosed in the manner provide by appHceble lew for foreclosure of mortgegea �
<br /> on real propeily. a;�=
<br /> ' 14.tnsp�ction. Lender may enter the property to Insper,t it if Lender gives Borrower notice beforehand. The notice must state the reasonable 6-
<br /> • cause for Lender's Inspectfon, F�v�'
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<br /> 16.Cond�mMUon.Borrower assig�ns to Lender the proceeds of any award or ciafm for demages connected with e condemnatfon or other teking
<br /> of all m any part of the property.Such proceeds wfll be applled as provided In Covenant 1.This assignment is subject to the terms of any prior '�.Ww�
<br /> ' 'I security agreement. -—. __-
<br /> x '; 18.Wdver.By exercising any remedy available to Lendar,Lender doea not give up eny rights to leter use any other remedy. By not exercising `::��.
<br /> ' any romedy upo�Borrower's default,Londer does not waive ony right to leter cons�der the event a default if it happens again. ;���Y
<br /> _ �i 17. Jdnt and S�wral Llsbiiltv; Co-iiprnrs; Suca�ttors �nd Attiyns Bound. All duties under thfa deed of trust are Jalnt and several. Any -_�
<br /> 8orrower wla co•signs this deed of trust but does not co-sfgn the underiying debt fnstrument(s) doea so only to grant and convey that ''`,������
<br /> B o r r o w e r's interest in the property to the Trustee under the terms of this deed of truat,In additfon,auch a B�rrower egrees that the Londer and .
<br /> any other Borrower under this deed of trust mny eMend, modify or make any ot her c hanges in t h e t e r m s o f tNs deed af trust or the secured ': '����
<br /> debt without that Borrower's co�sent and wfthout releasing that Borrower from the terms of this deed of trust. . y:- ; ��y
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<br />- • The duties a�d benefits of this deed of trust shall bind and benefit the successors and assigns of Lender end Borrower. :�,�,, , .:.�F,':•
<br /> ' 18.NoBcs.Unless otherwfse required by law,any notico to Borrower shali be gfven by deliverfng it or by meiiing it by ccrtifled mail addressed to • ., • : .
<br /> Borrower at the property addrese or any other eddress thet Borrower has given to Lander,Borrower wili gwa any notice to Lender by certified '��'
<br /> mail to Lender's add�eas on pnpo 1 of this doed of truet, or to any other addrose whfch Lender haR designeted.Any othor notice to Lender shall .
<br /> be sont to Lender's address as atated on page 1 of this doed of trust. � • -•
<br /> � Any notice shatl be deemed to have been gfven to Borrower or Lender when given in the manner steted above.
<br /> � 19.Trensf�r of th�Property or e B�n�flctsl Int�rstt In tha Borrower. If all or any pert of the property or any interest in it is sold or transferrad
<br />� payment�ifh e,Borrower ris not annaturel perso� andda be ofic al enteresttlnrtthe Borrohwer�isusolddob tr nsfeeed aHowevere Londe�m ay�not •
<br /> { demand payme�t in the abovo situatfons if it is prohibitod by federal law as of the date of this deed of trust.
<br /> � 20. Rer.onveyance. When the obligation secured by this deed of trust hes boen pefd,and Lender hae no further oWigation to mnke advances
<br /> under the instruments or agreements socurod by this deed of trust, the Trustee shall,upon written request by the Lendor, reconvey the trust
<br /> property. The Lendor shail deliver to the Borrower,or to Barower's succesFOr in interest,the trust deed and the note or other avidence of tha I
<br /> obligation sosatisfied.Borrower shall pay any rocordation costs.
<br />- .....�..., .., „o T.��arno and annolnt a successor trustee by fkst, maiiing a.copy of the �
<br /> ' Z7. SuCOeetor irusie�. �onuni, oi La •'- =
<br /> substitutfonof trustee as requfred by applicuble rew,nnd t�en,by ffling the substitutlon of trustee for rocartl In tne ottice oi tne reg�scur v�dands �
<br /> succeed to all tho poweh.tduCess authonty a d t te o(t he Trust e numedaitn the de d of t ust end of any�succossorvtrustee of the property, sheli i
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<br />� OANKENS SYSIEMS.WC.ST CLOUD.MN 56J01 11 BOO 397�23411 FORM OCP Mi6 NE 6i19/91
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