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<br /> CQVENANTS 9S �f'�,•'3�12 ' .
<br /> � 1, p�ym�nt�. Borrower epraeo to make all peymenta on the socured debt when due. Unlesa Borrowar and Lender agree otherwf6e, any _
<br /> I oxcluelve�of�interest oai principal, se ond to�nte�e B�and h n to printc pa'I.bf partp'al prelpayment of the aecu ed debt occues for any e sonaltdwfll
<br /> not reduce or excuse any echeduled payment untll the cecured debt is paid in fuli. _
<br /> � 2.Clalm�ApNmt Tlti�.Borrowar wlll pay ell taxe�,as�essmenta, end other cherges attributable to the property when due and wlii dofond trtle -
<br /> to the property a�painst eny r.INma whlch would Impsir the Iion of this deed of trust.Lendor may require Borrowor to asaign any ns�hte, clelma or
<br /> � de}ense�whlch 8otrower may have aflelnst p�rtle�who auppiy labor or materfals to improvo or maintein the proporty. �
<br /> 3. Iniur�nc�. Borrower will keep the property insured under terme acceptable to Lende►at Borrower's expenee and for Lender's beneftt. All
<br /> I inturance poilcle�ahell tnclude s �t�ndard monqape clause in fevor of Lender.Lender will be nameA as loas payee or as the fnsured on any such
<br /> Insunnce pollcy.Any imurance procaed� m�y be applled,withln Lendar'e discretion,to eitMr the restoration or ropeir of the dameged property
<br /> � or to the secured debt.It Lendor requfrea mortgage inaurance,Borrower agrees to maintain eur,h insurence for as long es Lender requires.
<br /> � 4.Prop�rty.Borrower wlll keep the property in eood conditlon and make all repalrs reaeonabry necessary.
<br /> � 6.Exp�ns��.Borrower e�reee to pay all Lender's expenses Including reaeonable attarneys'fees,If Borrower breaks any covenants In this deed _
<br /> � of trust or in any obligat on eecured by this deed of trust,�orrower wili pey these amounts to Lendor as provided i�Covenent 9 of thla deed of
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<br /> 8.Prior S�curiri Int�nsU. Unloss Borrower firat obtelns Lender's written consen4 Borrower witl not maKe or permit any changes to any priqr ' *�;;:_
<br /> security Intereetn. Borrower will perform all of Borrower's obligations under any prior matgage, deed of trust or other security egreement, -..a��;,�,.
<br /> ' including Borrower'a covenant4 to make payments when due. �.°_
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<br /> � q��A�Vip�mH►t oi�RanBoa^ower�may eollec�end�e�ainttheerentstas long as Horrofwer istnotPin defauit�If Bono�we1r defeuitse Lender�Lenders __
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<br /> agent, or a court appointed recelver may take poasession end manage the property and eoltect the renta. Any ronts Lender collects shatl be
<br /> ' applled first to the coats ot managing the property, includinp court coste and uttorneys'feoe,commissfons to rental agenta, and any other
<br /> necoaeary related expenses.The remalning amount of renta wlll then apply to payments on the eecured debt as provided in Covenant 1.
<br /> 8.L�tt�holds•Condomidum�;Pimn�d Unit C�v�lopm�nts.Borrower egrees to com ly with the provisions of any lease if this deed of trust is on •� .�,- .
<br /> undeethelcovenante, byIBWBruOf f8gUl0tl0 s of the condominium oi plenned unit degeioP°n�i."t,Borrower will perform atl of BorrowaYe duties �
<br /> ` ' 9.Authority of L�nd�r to P�rfam for Borrow�r. I( Sorrower fails ta perform any of 8orrower's dutieE under this doed of trust, Lender may ' .
<br /> perform the duties or cause them to be performed. Lender mey slyn eorrower's name orpay eny amount If neceseary for performance.If any
<br /> � i construction on the property is dfacontinued or not carried on in a reaconeble manner,Lender may do whetever la necessary to protect Lender'a „�
<br /> security intereat In the property.This may Include completing the construction.
<br /> Lender's failure to perform will not preclude Lender from exercieirtg any of its other rights under the law or this deed of truat. �
<br /> ' and wili bea rinte'e tYftomt hetdate of the peyment unt Ii peidtin fuli eti'the Intereetr ete n ieflect onfthe se�ured debt unts wili be due on domand .,
<br /> �, I 10. D�fwit and AccNaatlon. If Borrower fafls to m+�ke any payment when due or breeks any covenants under thfe deed of trust or any � �
<br /> demgand immediate peyment end ay Invoke the powo of 6ele end any other remedlers permityied by�applicable lewurity of the aecured debt and
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<br /> 111 11.R�qu�st for NaUa�of D�fault.It Is hereby requested that copies �f the notices of default and sele be sent to each person who is a party �%:�i��' `}
<br /> I heretu,at the adaross of aach such person,as set forth here�n. .;;�` ; �_
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<br /> _I !�,p��w��f Sal�.If the Lender invokes the power of aale,the Trustee shail fkat recordin the ofifce of the register of deeda of each county K.
<br /> whereln the trust property a some part or parcel thereof Is s�tuated a notica oi JntnuU c�r�tokdr,$eretonend t�other�per ons�as rescribedtby `�_
<br /> shail also mafi coples of the notice of defeuit to the Borrower, to each peraon who Is e party h P s;_
<br /> ; � applicable law. Not ieae than one month after the Trustee records the notice of defeull,or two months it the trust property fa not in any `'
<br /> incorporoted city or viliage and ie usad in farming operatlons carried on by the trustor,the Trustee ahail give public notice of sele to the persons 4
<br /> end In the manner preacribed bY appplicable law.Truetee, without demand on Borrower,ahall selt the propsrty at public auction to the higheat •�:•
<br /> � j bidder.If required by the Farm Nomeetead Protection Act,Trustea shall oNer the property in two soparrate sales es requlred by applicable law. ,.
<br /> r , Trustee mey postpone sale of aN or any parcel of the property by public announcement at the time and place of any previousiy scheduled saie. ��,�
<br /> Lender or its deeignee may purchese the property et any aele. ' '
<br /> � I Upon receipt of payment of the price bid,Trustee shail deliver to the purchaser Trustee's deed conveying the property.The recitiala contalned In ;�
<br /> � Trustee's deed ehall be prime facle evldience of the truth ot the statements conteined therefn.Trustee shall apply the proceeda of the aale fn the
<br /> � following order: (a) to all expenses of the eale, Including, but not INnited to, reesonable Trustee's fees, reasonable attorney's fees end
<br /> � relnstetoment feea;(b)to all suma secured by thla deed of trust,and(c)the belance,If any,to the peraons Iegaliy entltied to recelve it. �s�
<br /> � 13.Fonclosun.At Lender'a optlon,this deed of trust may be forectosed fn the manner provide by eppiicable law tor foreclosure of mortgages ��,z_
<br /> �� on real property. --
<br /> 14.In:p�a8on.Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notico must state the reasonabie
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<br /> � cause for Lender's Inspection. ___
<br /> 16.Cond�mnetion. Borrower ess�gns to Lender the proceeds of any award or cleim for dama9 es connected with a condemnation or other takinp
<br /> r � of all or any part of the property.Such proceede will be applied as prov�ded in Covenant 1.Thie aseignment is subject to the terma o4 any prfor E ----
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<br /> aecurity agreement. -_ -
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<br /> 18.Waivtr.By exercising any remedy avaflebie to Lender,Lender does not give up any rights to tater use any other remedy.By not exercising =_ —
<br /> � '. any remedy upon Borrawer's defeult,Lender does not waive any right to later consider theevent a default if it heppens egain. _ _
<br /> j 17. Jdnt and Sw�r�i Liabllity•Coalpnsn; Sucasswrs and Aulpns Bound. AI! dutfes undor this daed of truat are jotnt and several. Any „- ___
<br /> � Borrower who co-signs thfa deed of trust hut doea not co-sfgn the underlying debt instrument(s) does so only to grant end convey that -��-�
<br /> Borrower's interest in the property to the Trustee under the terms of this deed of trust. In eddition,auch e Borrower agrees thet the Lender end
<br /> � � any other Borrower under this deed of truat may extend, modify or make any other changea In the terma of this doed of trust or the secured ,�;�,��, s c
<br />- ( debt without thet Borrower's consent and wfthout releasing that Borrower from the terme of tMs deed of trust. =.
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<br /> � The duties and benefits of this deed of truet shall bind and bonefit the successors erxl aseipns of Lender end Borrower. , �°!°
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<br /> 18.Notict.Unless otherwise required by law,any notice to Borrower shali be given by de�'aaring it or by mailing it by certitied muil addressed to �*�µ�,"•,;i,'
<br /> • ! Borrower at the property address or any other address that Borrower hes givon to Lender. Barower wfli 8ive any notice to Lander by certified x• � :��: �
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<br /> mail to Lender's addresa on page 7 of ihie deod of trust,or to any other eddress which lender has desfgneted.Any other notice to Lender shall :�i� �,'
<br /> be sent to Lender's address as stated on page 1 of this dsed of trust.
<br /> Any notice shall be deemed to have been given to Borrower or Lender when given fn tho manner stated above. • ., -• •
<br /> � 19.Trsmf�r of the Propsrty or a Bm�flciet Interest in ths Borrower. If all or any part of the MopartY or any interest tn it Is sold or transferred
<br /> without Lender's prior written consenc, Lender may demand immedfate payment of the secured debt. Lender may aiso demand immediate I.
<br /> demandtp�aymon8 nrthe above aituatonsr f rtes p ohibted by federal towas of tho dateroftfhis deedlof trusansferred. However, Lendar may not
<br />_ i 20. R�conv�yanc�. When tho obligetion seeurod by,this deed of trust has beon paid, and Lender has no fwthor obligation to make advanees
<br /> under tho instrumente or agreements secured by this deed of trust, the Trustae shall, upon written request by the Lender,reoonvey the truat
<br /> i property.The Lender shall deifver to the 8orrower, or to Borrower's successor in fnterest,the trust deed and the note or other evidence of the
<br /> � obligatfon so satisfied.Borrower shnll pay eny rocordation costs.
<br /> 21. Suoc�ssor Trustee. Lender, at Londer's option, may remove Trusteo anu appoim a succossor trustee by first, mafling a copy of the
<br /> � substitution of trustee es roquired by epplicable lew,and then,by filing tho substitutfon of trvstee for record m the office of the register of doeda
<br /> ...��ti..��*rnnvavanra nt thw nronnrtv.ehAll . . . . ..
<br /> ' Ot e�ch County in which the trust preperty,or some peri iiiarnvi,ie aiiue od.7`6 °�"'�::^'�"'°•^=. .....__. __.- ,_ . , , , �� -.
<br />- � succeed to all the power,dutias,authority end tltio of the Trustee named i�the dded�ot trust end of any successor trustee.
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<br /> BANKERS SYSTEMS.iNC.ST ClOUD.MN G6301 11 800 J97 23411 FORM OCP-MT6 NE 6�19/3� �
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