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<br /> � . . � - covev�nRS '�,. '
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<br /> . . � '�'� t. Peym6tlts. BottOwet dgree8 to meke eU paymerrta on tha seauad debt wtten Que. Untess 8ortower and Lender agree otherwise, any ����,
<br /> . � paymer�Lender recetves irom Borrower ar for Borrower's Eenefit witl Ee applied flrst to any amounts Bortowflr owes on the secured deDt �
<br /> '� ' ' exduswe ot irterest or pdndpal,secand to Irttetest,and tfien to pdncipal.If partial Drepayment of tt�a aecured Qebt occurs tor eny reason,lt wiil ,.
<br /> . , ' ' not redues or exatse any sctteQuled paymerrc urNt the seeured de�t is patd'm fuii. --
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<br /> � � 2.Clatan9 Againat 7[$0.Bonowpr uvill pay atl te�ea,sssessmerts,and other charges etuibutab(e to theproperty when due artd will defend titte • `: . •
<br /> � to the proyarty aga�n"st arry da(ms whtch�nroutd impaa tDe lien of thls AaeO of trus�Lertder may requUe eaaower to assign any rights,claima o► .
<br /> �� ' ., • defenses which Hartower may Aave agein�t pprties who�suppty labor or matertais to tmprove oe mairnatn the D�Pen1l• � . �
<br /> 3.fns�uanee.8orrower wiil keep the property insTUeQ unQer terms acceptabte to Lettdet at Borcowere e�ense end tor LendePs 6enafit.Ail ,G t
<br /> � ins�usnee pofieies shall inetude a standard mort�aga dause in fawr of Lender.LenQer will 6a named es loss payee or as the insured on any such •
<br /> ��� <_ insurance poticy.Any insurance proweds may 6e appGed,within Lender's Eisaetion,to either the restoratlon or repair of the darteaged property •
<br /> `°• or to ths sec�ued deln.lf Lender requires mort�ge uis�uance,Honowar agreas to maiMain such insurance for as tong as LereQe►�equires. �;:� < ,
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<br /> -" 4.RogeRy.6orrower wiU keep the proper4y in goad condition and make ell repairs reasonabty necessery. � • • .
<br /> � `�--------"__� 6.Expenses.Borrower agrees to pay atl i.ertder's expenses.i�duding reasona6te attomeys'feea,if Horrower breaks eny covenants in this deed --'__-_,__- .,-
<br /> of trust or in any ohligation secured by this daed of uust.Borrower�nnll pay these emounts to Lender es provided in Covenant 9 0!this deed of
<br /> - . .. : i trust. . ��
<br /> • � t" . . 7 6.Qrtw Securfty(nt{areste.Untess Borrower fust obtai�s Lender's writteo consem,Bartower will nat make ar permtt arry changes to any prior ' '
<br /> _ y seaaity irttetesta.Borrowe►will peKorm all ot Bortowefs obligaUone under any prior mortgage, deed of trust or other seeurity agreeme�L
<br /> � � inchiding Barowe�s covenarRS to make paymems when due. � •,
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<br /> 7.Aaslg�mie�rt of Re�end Profrta Bm�rowar assigns ta Lender the rerns end profits of the property.UNass Borrower and Lender have agread �
<br /> - ,," ` ,r �� otharwise in xrtiting,Borrower may wltect and reteln the rents as tang as Borrower is not in dafautt.if Bonowet detaufts, Lender,Lender's �;�: �-<:'•;-
<br /> ± agerrc, or e couR appnimed receiver meV take possession end manage the property and collect the rerfts.Any rerns Lendar coltects shail be � ,:-_:
<br /> 4`' eppGed first to the costs of manaSing the ProPenlf, lnduding tourt costs end ettomaya'tees,eomm'�ssians m rentel ageirts,snd a�ry other ,. � •-� .F�;=-;
<br /> ' necassary retated expenses.The remaining amount of rerrcs will then appiy to payme�an the semued debt as provided in Covanart t. - •
<br /> .1 �', � - • 8.Leasehotds•CondortdnLans;P/anned Untt Devetopmertts.Borrower a8rees to compty with the provisions of any Iease if this deed of trust is on ` : • - -
<br /> . . a teasehotd. ff this deed of trust is on a unit in e condomiNum or a p�anned unit devefopment,Borrower witl pedarm atl of Borrower's duties �•- ---
<br /> . under ths covenartts,by-lawa,or waufatlons of the condominium or planned unit Qeretopment. _
<br /> � 8.Authorfty ot LenQer to Partarm for Bcrrowm.(f Bortoww fails w perform any of Banower's duties under ttUs deed of uust, Lender may ���
<br />- perform the dutfes or cause them to be pertarmed.LenQer may sign Bortowar's name or pay any amoum if neeessary for pertormance.i!arry _
<br />- � �,; consvuctlon on the property Is diswr►dnued or not carried an in a reasanahie manner.Leoder may do whatever is necesssry to pcotect Lender's —
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<br /> searity irtterest in the property.TAis may inctude eompleting the cansuuction. --.:_
<br />- Lenders faiture to pertortn will not precluQe Lender ftom exercising any o!ita othet dgt�ta under ths law ar this deed of Lust. _
<br /> Any amourtts paid by lender to protect LenQer's security ir►terest will be secured by this Qeed ot trust.Such amou�ts wip he due an demand _
<br /> • � an0 will beer irtterest irom the date of tha paymer►t urrol paid in fuii at the irrterest rate in affect on the secured debG
<br /> ' _ =''� 10.Defu�dt and Accetaredort. If Bcrtower tails to make any paymem when due or breaka any cavenar►ts under thts deed of trust or any ,�' ._
<br /> . obligatfon sewred by this deed of uust or any priar moRgage or Aeed o4 uust,Lender may acceterate the mawrity of the secured debt and --
<br /> , ; Qemand immedlate payment and may invoke the power of sale and eny other remedles permitted by appiicebte law. --�"�'�. "
<br /> • s„= 11.Requast tar Natica af Oeta�dt.R is hereby requested that copiea of the noticea of datautt and eate be ser►t to each pereon who is a party -�=������
<br /> • hereto,at the addreas of eacfi such person,as set forth herein. ��-
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<br /> '� 12.Pawer a!Sate.it the Lender inwkes the power of sate,the Trustee sball flrst rewrd in the office oi tfie register oi deeds of eacfi county = -
<br /> , � wfieretn the trust propeny or some part or parcei thereof is situated a noUee of defauh coMaining the infortnaUon requFred by taw.The Trustee
<br /> • � shail also mail eopiea of the notiee of Aetauh to the Bonower,to eaeh person vuho Is a party hereto,and to other persona as prescribed by
<br /> ' . ." � apyticabte law.Not less than one mortth after the Trustee recards tfie notice nf dafauit,or iwo moMhs i!the trust properiy is not in any •
<br /> � • ' , incorpowted city ar vfi►age and is used in farming operatfons carrted on by the wstor,the Trustee shall give pubiic notice of sate to tfie persans
<br /> _ and in the manner presai6ed bY apppticabte law.Tnistee,whhout demand on Bonowar,shall se0 the propetty at pubiio auction to ths highest ' `' ••�`��
<br /> � b(dder.Ii required by the Farm Homestead Protecdon Act,Trustee ahall offer the property in two sepazate safes as required by appUcable law. ° � ' ' °"'
<br /> - `' � Tluatee mey postpone sate of atl or arry parcel ot the property by public announcement ai the tlma and place of any prevtousty schedulBd aeie. � .. • �r��`
<br /> _ . Lendar ot its designae may purchase the propeny at any sate.
<br /> � Upon receipi ot payment of the pHce bid.7rustes shaD detiver to the purchaser Tmstee's deed conveying the property.Tha recitiais contained in �� ° �� �..
<br /> ' -� � � � �':t Trustee's deed shall 6e pdma facie evldience of the truC►ot tfie statemer�ts corrtained therein.Trustee shail eppfy the praceeds of the sate in the , , , ���-'°-
<br /> � fottowing orQer: (a) to all e�enses of the sale, including, but not limited to, reasonabte Ttustee's tees, reasonabie attomeys fees and • ��:�
<br /> ��' • reinstatemant fees;(b)to ell sums secured by thia deed ot trust,and Ic1 the balance,if any,to the persana legally entliled to receive it. � �*"=
<br /> 13.Faredosure.At LenQer's opUon,lfiis Qeed of trust may be foreclosed in the manner provide by appticabte taw for foredosure of mortgages '° „.'•��
<br /> " ' . on real properry. ' -
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<br /> ' ' 14.tnsyoetton.LenEer may erter the property to inspect it if Lender ghres 6orrower notice beforehand.The notice must state the reasonabfe � `
<br /> . , ' cause Tor Lender's inspeetlon. , �. :=a�%,�
<br /> 16.Condamnatton.Borrower assig�ns to Lender the proceeds of any award or ctaim tor damages connected whA a condemnation or other taking � � ...�
<br />-, . • • of aD or any paR o!the property.Such p�oaeeds will be apptled as proviQed in Covenant 1.This assignment is subjeet to the terms of amr pdor '
<br /> • security agreemem. �
<br /> � 18.Waiva►. By exercising any�emedy avafiabte to LenCer,Lendor daes not give up any rlghts to tater use anV other remedy.By not exetcising '
<br /> � . . arry remedy upon Borrower's defaufl,Lender daea not wa(ve any r1gM to tatet cunsider the event a detauft if it happens again. I .Vi��'•. '. .
<br /> ' �{ 17.Jotnt and 8overal UabiQty Caslpnoro; Suieasson and Aestgns Baund. All Qutiea unQet this deed of trust are joint and several. Any �
<br /> � , Bortowet who co-cigns this dee0 of uust but Qoes not casign tAe undertYing debt instrumentls)daes eo oniy to grant and convey that
<br /> ' Borrowe�'s interest in the property to the Truatee under the terms of this deed of Vust.In additlon,such a Bartower agrees that the LenQel and �' �
<br /> •- arty other Bonower under this deed ot irust may extend,modi�or make any other changea in the terms of thla deed of trust or the secured � �
<br /> � � � debt without that Borcower's consent and without refeasing that onowet from the terms of thia deed of vust �
<br /> , , . The dutles and benetlta o}thia Aeed of truat ahall binB and 6enefit the successora and assigns o1 Lendar and Borcower. � . �
<br /> � - 18.Notleo.Untess otherwise roquirod by law,any notico to Borrower shall be given by delivering it or by maili�g it by certifled mail addreased to
<br /> � Borrowar at tho praparty addresa or any othor adQress that Borrower has given to Lender.Borrower�nnll gtve any notice to Lender by certiAed '
<br /> mail to Lender's edQresa on page 1 of thia deed ot bust,or to any other addresa which Lender has designated.Any other notice to Lender aha11 ��
<br /> s be sent to lender's address as stated on page t of thta deed of vusi. �
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<br /> . . � Any notice shall be deemed to have�een given to Bonower or Lender when given in the manner atated abova. �� � ,
<br /> ' � � � 19.T�arrsfor of thv Praporty or a Banoflelal IrKe�ost in the Bonower.N all or any part ot the propertv ar arry intereat in it is sotd or Vansfened '.
<br /> �. r without tender's prlor written consant, Lender may demand immediate payment of the secured debt. Lender may also domand immedlate • • '
<br /> • ; paymen!(t the Borrower is not a natural person and a benoflcial interest in the Borrower ls sotd or Vansferred. Howevor, Lender may not •
<br /> � j demand payment in the abovo situatlona if it ie prohibited by tede►al law as of the date of this deed of uust. '
<br /> _ � �• 20.Raconveyance.When the obilgatlon secured by thla deed of trust has been paid and LanQer has no further obllgation to mako advances •
<br /> . under the instruments or agreemente secured by this deed o}trusL tha Trustee shair upon written request bV the Lender,recorrvey the trust ' �
<br />� • . . , pro�orty.Tho Lendor shall dolivor to tho Bortower,ar to Borrower's successot in interest,the trust deed end the note or oiher evidenco o!the
<br /> . • • ohi(gatlon so satisflod.Borrower shall pay any recordatlon coste.
<br /> � , 21.Suceesaor Truateo. Lender, at Lender's option, may remove Trustee and appoint a successor trustee by first, maiiing a copy of tho �
<br /> • , . substitution of trustee es required by appticabte law,and then,by fitin�the aubstitution a}trustee for record in the office of the register o!deeda •
<br /> uf each county in which the trust prope►ty,or some pert thereof,is eituoted.The successor trustee,without conveyanco of the property,aha11 �
<br /> � � succood to atl tho powor,dutios,authorityr and tltie of the Trustee named in the deed of trust and of any successoi trustoe.
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<br /> � � BANKERS SYSTEM9.INC,ST.CLOUD,MN 88301 11•800397�23411 FORM OCP�MT6N8 B/t991 • ' '
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