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<br /> �� . ` covavarrts "- . � :
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<br /> " � ` 1.Payestertb. Bonower a�ees m make ell paymertts bn tl►e secured debt when due. UNess Barrawer and I.ende► agrea otAerwise, any ,���:
<br /> ' � - payments Lertder reCetvea trom Borrower or for Bonowera benetit wiU 6e appiied fUst to arry amourtts Hartower owea an the secured debt : .••.` `
<br /> � � excNsive of irtterest or pflnciyal.second to irRerest,and then to pdneipai.It partlal prepayment o!the secured debt ac�us iar arry reason,it w71 " '�-
<br />, � ' not reduee ar exeuse arry seheduted paymern u�ol the seeured Qabt ts patd in tuU. `��
<br /> ° � 2 CAainna QgrJna!fide.Botrow8r wfli pay 81t�ces,ess ssmerrca.and other charges attn'Dutable to the property when due and w�l defend 6tle •
<br /> • �. � m tAe prcperty aga(pst any datms whieb wotttd impalr t�fe lien of Wa deed ot waL i.endos roay require Barrawer ta ascign any dghte,datms or ,y`' '.`�-<. • ,
<br /> ' , Qetec►ses whieh 8flrtower may hava sga9�t�ar4tes xfio�supply labor or mat�(afs tn(mprova or mair�in the property. , ,
<br /> • . , 3,tr�siam�ee.Sorroviter wiit heep tfi9 property'infured 6nder tertns aecepteLte to Lender at Borrower's expanse erta for Lender's treneTrt.NI . `
<br /> ' insuraaw poGctas ahaU indude a standaM martgage el�se in fawr af Lender.Lender w�t hs named as tosa payee or as the u►sured on�ny such �..��:. �
<br /> . ` '. insuranes policy.Any Insurance proeaeds may 6e eppiied,witNn Lender's disaatton,to eiaher the restoration or repaU of the damaged proparty �:
<br /> ` , or to the seeured Qabt tf LenQer tequtres mortgage�nsurance,Bonower agrees w malntain such instuance far as long as Lender requires. ,
<br /> � , l -" - 4.Property.Bortower witl keep the property in gaod eonditton and make all repairs reasanabty neeessary.
<br />_--; -- . .� . -,•T� 5.Es�aQSe9.Banowei egrea,to pay sU LendeYs expenses,including reasonahte aitameys'fees,ff Borrower breaks any covarrarrts im this deed -------'r'�-_,--�
<br /> of ttuse or in arry obGgation seeured by tAis deed ot Vust.Bnrrower wiil pay these amouets to Le�der as provided in Covenant 9 of this deed of
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<br />- 6.Rrtar Seeurhy 6nerests.Untess Bortower first obtains Lenders written cortsent, 6ortower wip not make or permit any cAanges to any prior �;; _ `
<br /> � ', , seeurity i�ttsresffi. Bortower wfil pertorm aU of Borrowers obGgaRons under any prior mor�qage,deed of uust or other sewrity agreement, .,�•�.•�: • '�,,=_
<br /> .� indudmg Borrower's covenarRS to make paymerrts when dua. � -_
<br /> � . ?.Aasianmertt ot Rortts end Rofite.Borrower assigns tn Lender the rents and profits of the proyerty.Untess Bortower and Lender have agreed ` ��, ' :' -
<br /> ` otherw�se in uvriting,Bortower may wRect and�etain the rertts as long as Bormwer ia not in defauiL if Borrawer detauite,Lender,Eander's _
<br /> � agersy or a court appoirned reeeiver mav take possesslon and managa the property and couect the rents. Arry re�lender witacts shaii 6e � -
<br /> « � � appiied first to tha oosta of managin�the property,indudina ccurt casts and attamays'fees,comrtissions to ra�rtai ageras,end arry other . .
<br /> _ , ` . ` necessary retated expenses.The temaming amoimt ot recrta witl then appiy w paymeme on the seaued debt as pravided in Covenant 1. h _,,r.
<br /> ' � 8.teasehatda:�Ptansta0 Ut[it QmtaloDmerte.Bortower egrees to camp!y wfth the provisions af any tease if this deed of twt is on s : -�..-
<br /> - , • undeietfiaid.rovean�ehyr�tauva,�or r�eg�ul�adon�s at U e r�.ondom��im�or plain�ed unit devdetoplo�merrt,Borrower wi0 perfotm ali af Borrowefs dutias ; , --__
<br /> ' 9.Autharity of lender to Per[arm tm Barrawar.If Borrower faits�o peifarm eny oi Barrower's duties under this deed of uust,Lender may ' .
<br /> . ° yeRocm the duties or cause them to be performed.Lendsr may sign Borrower's name or ay eny amo�mt Ff necessary tar peAormance.it any `
<br />?� , . ;.` consductton on the property is dtscorntnued or not earried on tn a reasonaDte rnanner,Len�er may do whatever Is rtecessary to protect Lender's • ; _
<br />•'• ` •� sewrity interest in the property.This may inetude compleUng the eo�souetion. � : ..,r.�,�.
<br /> ... .. .. Lender's tai4aa m perfam vm71 nat prechcds Lender from m�ercising amr of ita other righte under the taw ar this deed oE trus4 ._
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<br /> Arry amounts paid by Lender to protect Lenders security iMerest wili be secured by this deed of trusL Such amourrts wiil be dua on demand
<br /> �. and wi0 bear interest ftom tAe date of the payment urttii paid in tuli at the IMerest rate in eftect an the seaued debt ... --
<br />�� �_ . 10.Oefa�dt and Accetazartan.If Borrower tails to maka any payment wAen due ar breaks arry covenanta under this dead of vust or any � �,,___�.,_�_
<br />• obligation secured by this deed ot Vust o�any prior moRgage or aeed ot mist,Lender ma�yacceierate the maturity af the sac�ed debt artd _ -
<br /> `, . _, demand immediate paymertt end may imroke the power of sale and any otfier remedies permitted by applicabfe Iaw. _ �"�''
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<br /> � . • 11.Raquest for Rotise ad Defmd�it is hereby requested that wpies of the noUces ot defauit and sate be sertt to eaeh gerson who is a party - �
<br /> . • � hereto,at the address of each sucA person,as set forth herein. ' -- —
<br /> �`+ ' •., , �- 12.Power M Sete.If the Lender imokea the power of sete,tho Truscee ahaii tirst rewrd in the office of the regtstor of deeCs of eacb couMy • -
<br /> - � wherein the trust property or some part or parcei thereof is situated a noUee of detauft wmatnin9 the fitortnation required by taw.7hs Trustee `
<br /> �� • a�. shall atso mail copfe3 of the notFce of defauft to the Barrower,ta each person who is a party hereto,and to ather Rersans esprescri6ed.6y • --
<br /> - � 'r:'��,•, applicabte law. Nat less than one mnmA after the Trus[ee recarda the notiee ot defauft,or two moritl�s I!the Uust ptapetty is noi in arry�
<br /> • s� ineorporeted ciry ar vilfage and is used in farming operatlons cartled on tiy the vustor,the Tnistea shall give puhlia notice of eale to tha persons _, �_-
<br /> " and in the ma�ner prescribedp�apppticabte law.Tnistee,without demand on Borrower,shall seU the property at pu0lfa auciion to tho highest .--,y��..,
<br /> �t - . ' � 6ldder.If required by tds Fartn Homastead Protaction Qct,Tn�stee shall offer the property in two saparate sa(es es requ'ved by appiipble law. • _,,s,;:
<br /> ,. Trustee may postpone safe o!aU w any pareel of the prope►tyr by public announcemem at the time and place of any prsviousiy schedute0 sete. :��
<br />" _. lender or its desi g nee ma y purchase the pro p e rt y at an y ea1e.
<br /> , � Upan recet�t of pa�mertt of the prtee bid,Trustee sttaU deiiver w the purcfiaser Trustee's deed corneying the property.The recftiats cor�ined in �, ��r
<br /> � �� � � - Trustee's deeA ahaif 6e prima tacie evidieoee ot the truth o!the ataiemertte corttained therein.Trustee sha11 appty the proceeQa of tAe sate In the �
<br /> � � � foitowing order: (a) w atl expenses of the sa(e, inciuding, but nat Iimited to, reasonabte T�ustee's fees, reasonabfe attorneys fees and ',,`. •� �
<br /> - ,'-�! roinstatement tees;(b)to all sums securad hy�his deed ot trust,and(c)the 6atance,it any,to tha persons Iegai(y entitlad to receive R. �. �'���•�
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<br /> . � `' 13.Foradosure.At Lender's optlon,this deed of trust may be toreelosed in the menner provlQe by applicable taw for toreefosure of mortgages . ' �
<br />� • . • . on real property. ;'g$
<br /> . . c.,. �i- , .
<br /> - 14.fns�ectlan.Lendet may ente►U�9 p►aperty to inspect it it lender givea Bortower notice betorehand.The notice must atate the reasona�fe �'�
<br /> ,.- �. � >`� eause tot LenQePS inspectlon. • . ' . '
<br /> : . 16.CondamnaNan.Bortower assigns to lender the�roceeQs oi any award or claim for dama9es connected wfth a condemnatian or othe►taking ' - ::•�
<br /> .`� of a0 or arry part of the property.SucA proceeds wi 1 be appGeO as provtdeC tn Covenant 1.This assignmerrt is aubject to tfia terms of arry prtor � `;..�� � � - _
<br /> .:;, securityagreemertt. ` -°
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<br /> ' � 16.Watvar.By exereising any remedy availaAle to LenCer,Lender daea not give up any�lghts to later use any other remedy.By�ot exercising . � " •
<br /> any remedy upon Bonower's deiauft,Lender does not waiu3 any dght to tater consifer the event e Qetautt it it happens again. - . . ,
<br /> � ,. 17.Joirtt end Sevaral L1abDiri:Co-aigners; Succosso�a end Asstgne Baund. All dutiea uader Yhia deed of trust are jofnt and several. Arry _ � ' .
<br /> � Bonower whu co-signa this deed of aust but doea nm co-sign the undetlying debt insvumemts)daes so only to grant and convey that
<br /> • ,. Boaower's irtterest in the property to the Trustee under the terms of thf9 deeo oi uust.In aQdiUon,sucb a 8onower agrees that ffie Lender and • . � . �,
<br />_ . amr c:.'+er BorroweT under this dee3 af trust may extend,modifv or make any uther changea lo tho terma ot this deed of vust or the secured :. �,.. �� . • �
<br /> debt without that Bonower's conse-�and without reteasing that�orrowar hom the term9 of this deed of trust. "
<br /> i'�; • :.,� The dWos and 6eneflta of thia deed of trust shall bind and 6enefit the suecessora and assigns of Le�dei and Bonawer. • � • ,
<br /> � , 18.Notico.Uniess o2hervvise requlred by law,any notice to Bonower ahall be given by dellvering It or by mailing it by cerUfled maii addressed to . ' �
<br /> � � � � Bonowar at the pro�erry adCtess or erry othet aQdresa that Bortower has given to Lender. Bonower wiil glve any notice to Lender by certifled , •
<br /> . mail to Lender's addresa on page f of thta deed of trust,or to any other adQresa which Lender has designated.Any other noUce to Lender shail .
<br /> - be sent to Londer's adQress as atate0 on page 1 0!tnis deed ot trust. � • .
<br /> �• Any noUce shail be deemed to hava Oeen given to Bonower or Lender when glven in the manner stated above. � ' ,
<br /> � 19.Transtar o!ttre Praperty ar e Banoftctes frttv►est in tho Bortower.If ail or any part ot the property or any interest in it is eotd or tranafened � �
<br /> . whhout LenQer's prior written consent, lender may demand immedlate payment of the secured debt. Lender may also demand immedlate �
<br /> payment it the Bonower is not a natural person and a beneticia! interest in the Borrower is sotd or tra�stened. liowever, Lendei may not •
<br />� " � demand payment in tfie above situations i}it la prohibited by tederal taw as of the Qate o}this deed af trust. ' �
<br /> � 20.Reeanvoyance.When the obY�gatlon secured by this deed of trust has been paid and Lender has no further obBgaUon ta make advancea �
<br /> • unEer the inatruments or agteementa secured by thie deed of trust,the Trustae ahaif upon written request by the Lender,roconvey the Vust � �
<br /> .�� ' property.The Lender shall deliver to tfie Borrower,or to Borrower's successo�in interest,tho Vust deed and the note or other evidence of tho �
<br /> . � � obtlgation so eatisf:ed.Borrower shall pay any rocordation costs. • � . ,
<br /> . "i 21. Sueeossor Trusiao. Lender, et Lender's option, may remove Trustee and appaint a successor vuatee by flrat, maiting a copy of the • :�
<br /> su6stitution of bustee as repuired by appilcabte law,and then,bV fi(ing the substltution of trustee tar record ln the oi8ce of the register of deeds
<br /> , of eaeh county in which the trust property,or some part thereof,is situated.The succossor trusteo,without conveyance o}the property,shall '
<br /> � succeed to ail the power,dutles,authority and tltle of the Trustee namod in the doed of trust and of any snccassar trustee. • �
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<br />' ' �.. -� BANItEAS SYSTEtAS.INC.,ST.CLOUD,MN 58301 11 806397�436t1 iORM OCV-Mt4NE B�19i91 .. �
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