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<br /> t. Pt►ym�te. 8orrower agreea to make a11 paymeMa on the secured debt when Que. Untoss 6orrouwr and Lender agree ott�ervirise, eny . �� ,`.
<br /> ` • paymar�Lender reoeivea hom Borrower or tfieo�r sB�orrowers benefit wm be applled fl►et to arry amourts Boaowar owea on the secured deLt ; ' �,.,
<br /> - � ' • not e Quee or ezf w os�y�Q u l d�D s�y r t n e n t u n t i l t h e�s ecu�re d d e�b t i�s p�a i d i n�fuli8�prepayment of th�secwod QoEt aecurs tor eny�eason.it will , r `
<br /> � � '` Z,CtPJma Agr,h�st�f80.8orrower witl pay a11 taxea.as8essmema.and ather chargea ettributeDia to tAO DroportY w!►sn due and wiil detend tltle . , •�`�
<br /> - to tha prope�y egatnst enycTatmg:whlch w9uid Im�alr tne 6en of thfs deed ot tnist.Lender may roqutre 6aaower to assign any dphta,ciaima or � .�? �.
<br /> dotenses inrhteh gortowttr rtiay havo ageinst Dartlea who sappty labee or materlats w[mprove or ma�etain tho property.
<br /> . <� '� � 3,pta�at�ty.Bonower w(ll keep the proDertt/inswed under terms aeceptabte to lender at Banowere espensa and tor lendm's heneflt.AO �
<br /> '` insuranco paNdea sAalt inetude e standard mortgage dause inlavor of Lender.LenQer will be named a�loss payoe ar as the insurad on any suet► ,�- :� . ,
<br /> insurance poGcy.My u�surence ProeeeQs may 6eepplied,withln Lender's dlsaetion,w eithe►the restoration or repafr of the damagnd property . �; : �. �:,�.
<br /> . or to the seaueA Q a b�If Lender requires mortgage incuranee.8ortowe r a�e e s t o m a t r rt a i n s u c t�i n s urance tor as Wn g as LenCer requlres. . , , .
<br /> . - -.�' 4.Pmperty.Borrower wilt keep tAe properly in gaod eon4iUon and make e1!repaira reasonably neceseaty. ;.,,. " , `
<br /> �e� �• 6.Er�ensQS.Bonower a�ees to Pa�l a�l Lendera e�ensec induding reasonabie attomeys"fees.if Borrower breaka anY covenac�in dbs daus _, ` - -
<br /> -_ ot trust or in any obligation seared by this deed at trust�oROwer vinU pay these amou�to Lender as provided m Covenant 9 of this daed of ;[ t
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<br /> � ` 8.Frtor Seau3qt tntereste•Unless Borrower first abtains Lender's written canse�rt, Bortower wi0 not maku or permit any changes to any prior _ �
<br /> seeurity irtteresta. Bormwer wiil pertortn a11 of Bnrtowers obligations unQer any prior mortgage,deed of uust or other security agreement, . :
<br /> ` . inctu�ir►g Borto�vere covenante to make paymeMa wfien due. -
<br /> � ° 7,psst pt t{ertfs snQ Ptofits.Bonower assigns to Lender the rerrts and profits of the property.Untess Borrower and Lender have agreed •° :�.�,-' �_
<br /> � oth in wriclnp.Bortower may coltect and retein tfie re�as tong as Bortowet Is noi in defauk.H Bortower defauiis,Le�der,Lenders ___
<br />- " ' , agenL ar a court appointe0 reeetver may take possession and manage the property and coi!ect the rertts.Anfl�ents Lender s;offects shall be . • . .-,' .-:
<br /> . ayDfied first to the eosts of manp�ng the property, induding wurt costa and ettomeYS'��. ��ians to rerttal a ertts.and arry other . <,'•�, .;s ......
<br /> ' necessary related expenses.The remafning amourrt of rer�ts will then appty to paymeirts on the secured debt as provided i��venant 1. ,�,,,;.;Y._-
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<br /> ' �,$ g,LeasohatQa•Corfdo�:P►mmed Unii Davatapmnms.Bortower agrees to compty wiU►the provisions of anyr lease if this deed of uust Is an :; `. _
<br /> �� uride�die�.icoven�a�b�ws o egunlatia of t!e�eandom atumm or pFenned untt Qedveetopme�B°Ravre�vriil pertorm all of Borrower's dudes �
<br /> 9.AtMority of Lender tn Pertarm tm Bmrowe►•�f Bortower taits wpertorm anY o!BamnwaPs Quties under this Qeed of trust, Lender may - - -.
<br /> ' perfortn the duties or rause them to bs performed.lender may sign 6ortower's name o�psy any amouat if neeessary►tor pertormance.If arry , _ -
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<br /> .� ' consuuatlon on the property is disco�rtinued or not canied on in a reasonabie manner,ie�det may do whamver is necessary to proteet�ender's ��,�..'
<br /> <` � • sacurit�l irterest i�the properry.This may inctude compiating the corsVUCtton. �r,`�.�.'- .........
<br /> � � � �� Lertdefs faiture to perform wlll not prectude lender from ezercisfng az+Y o t its o t her r fi g M s ur�Qer t fie faw or t h i s d e e d o f tr u s t. t`%���� _ -
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<br /> My amourtta pald by Lender to proteet Lenders securicy iMerest wiil be secured by this deed of trus�t.Such amounts v+nit be due on demand _--
<br />"''� . - - anQ wiU 6ear trtterest from the Cate of the payment u7rtil paid m fult st tAe irtterest ratB in effect on the s8aired deht
<br /> ��.. • • ' 10.Oafmdt and AeeeJeteUan.H Bortower taits to make aaY Payment when du9�hreaks any covenartts undar this deed of trust or arty .��°�:.�
<br /> �� � � Qe�m n3 m�me�Q'�aeide payment end m��ke the power��safe e�id�m+Y utfiet te ed��dpermaftyte bylaDpBceble taw�.�of ths secured Qebt and __
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<br /> � 11.Re�ueet fa Nmtee of Dafmdt tt is hereby requested tfiat copizs of the notices of Qetault and sa te b e serrt to eac h persnn�v ho i s a p m t y ,};;.1; "_ -
<br /> � ^ . ,� hereto,at the address of each sucii person,as set torth herein. �::?'�f�",;`;_=s-ID°
<br /> ''� - � `" • 12.Power of 8ate.If the Lender imrokes the power of safe,the TrusUee shail flrst record in the offfce of the re�r ut Qeeds of each caursiy �, ,. �;_-_
<br /> _� � � wherein the uust property cr some part or parcet thereot is sid�a�d a notirs of defauk coMaining the iaformation raquirad by taw.The Trustee ;��,,.�\>`,-,:__
<br /> , �'+�• ' , shaii aQso mail coyies of the rrotice ot defauR to tt►e BoROwer,to eact�person who is a party hereto,and to osher persans as prescribed by ; r. •• �
<br /> appiicabta law. Not tess than one momh after the Trustea records ttfe notiee of defautt ar two months H the uust propeny l s not in amt �—
<br />°r�..�� incorporated city or vil(ags and is used in fartntng o�perations canied on by the uustor,the frustee sha8 give pub(fc nottcs of sele to the persons : ,�
<br /> • • � and in the mannor presaibed by appplicaCie taw.Trustee,without demand on Borrawer,shatl self the proparty at pubBc auction to the highest � • :;.r;�..�.R:
<br /> • bfQder.If required by the Farm Homesteed Protecdon Act,Trustee shalt offer the property tn two separate sales es requned by apD���ble law. �?
<br /> - �er or�its Qesig e may purcfiase Uie property at a yro 8j rty by public announcemeM at the Ume and pTaee of any previausly sehe6ute4 eate. �
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<br /> - � � � - - Upon receipt ot payment of the price 61d.Trustee ahail detiver to the purehaset Tcustee's deed canveying Me property.:he recttials contained In •
<br /> � ' Trustee's deed shall be prima fade evidieace ot the truth of the statements cnntainad therein.Trustee shall apply the procee0s Ot the eete lo the '"'Y'�"
<br /> � ` follow(ng order. lal to atl expenses of the sale, inciudin@, Out not limRed to, reaaonabte Trustee's fees, reasonable a4tomey's tees and � tl�"'�"°
<br /> � ' � reinatatement fees;(b)to all suma Becured by this deed ot trust,and(e)the batanee,if any,to the persons legally e�itfed to recehre it . �";�
<br /> . � � 13.Fometosure.At Lender's oDtion,this deed of trust may be fareclosed in the manner provide by appticabte Iaw for toreelosuro of mortgages �• ; � , ,%�=
<br /> ' • on real property. � • - _
<br /> . � "' 14.fnopoe6on.tsnder may enter the property to inspect it H Lender gives Bortower notice beforefiand.The notica must state the reasonabte � � ' -
<br />:_:` ' i eause�or LenQer's inspeetion. � +t �� �.�_
<br /> ;:� • - 15.ConRemnetton Borrower assi gns to LenQet tho proceeds of eny award or claim for damages conneeted with e condsmnation ar other taking _, ,.�-
<br /> • �� of aIl or afir peR o1 the property.Sutb proceeds wflt be appiied as ptovided in Covenarrt 1.TNS assignment!s subJect to the terma of arry prtor _--
<br /> - security agreemant.
<br /> '.'? � � . 18.WaIver.By oxercising any remedv avaitebte to LenQer,lender doea not give up eny righta to tater use anY other remeCy.By not exercising � � � � ,
<br /> " ,. . any remedy upon Bonower's detautt,lender does not wetve any�ight to Iater consider the event a dafauk N it happans again. _
<br /> � • • 17.Jotnt nn0 Se�ore!Ueb�y, Co-aignero: Snewsaora m�d Aasig�Baund.All DuUes under tAla deed bf uust are jolat and several. Any � .
<br /> , �� • 8orcower who co-signs this deed of uust 6ut does not co-sign the undertvirtg deDt instrumentts) Qoea so only to grant and corney thet
<br /> ' • 9ortowar's interest in the property to tha Trustee unCer the terma o!this Qeed of trust.In addition,such a Barrower agrees that the Lender and
<br /> � � erry other Bortower under this doed of tust may extend, modify ar make arsy otfier ehangoa in the terms o!this Qeed of vust or the secured � _ �
<br />' , . Qsbt without that Borrowor's wnsent and wlthout releasing that Bonowet irom the terms o3 thia deed of trust. . ,
<br /> The duties and benetits of this deed of trust shatl bind and benetit the successors and assigns of Lender and Bortower. •� . � ••
<br />- .t: . ' ' 78.lIl�leo.Untess oiherw�se reqicred by law,any notice to Borrower shal!be given Cy delivedng it or by mai►ing it by certitled mail addreased to _
<br /> Borrc:a$r at the property aQdress er anY other address that Bonower has gfiven to Lender.Bonower w�ll give any nottce to Lender by cenified ,
<br /> mail;o Lendor's ad�ress on page 1 ot this deed ot trust,or to any other addreas whieh Lender has designated.Any other natice to lender shatl , • �
<br /> • . , . , ba sern to lender'9 aEdresa as steted on page 1 ot thle Qeed of trust. ' .
<br />� . Any notice shall be deemed to have been given to Borrower ot Lender when given in tt�e manner stated eDOVe. . ,
<br /> ' � 19.Transfor ot tho Propovty or a Benoflcicl U�mreat in tho Bonower.t}all or any part ot the property or any interast in R is sotd or Vansterre0 �
<br /> � ' without LonQePs pdor written consent, lender may damand immediats payment of the secured debt. Lende► may aiso demand immedioto • • ..
<br /> �, demand paymenBin t�e above situations�if it is prohibrted by tederal taw as of the dato�of hes daadtof�ustansfoned. However, Landar may not ,
<br /> • ; 20.Reeomreyanoe.When the obiigation secured by this doed of uust has been paid and lender has no further obiigation to make advancas ' . '
<br /> • • � undor tho insVumerKS or agreements secwed by thia Qeed of trust, the Trustee shalr upon written request bY the LonQer,raconvoy the uust
<br /> . propeRy.The Lender shali deliver to the Borrowei,or to Botrower's successor in interest,the Vuat deed and the note or othar evldence o!tho .
<br /> obliSaUon so satisFled.Borrowor sha�l pay any recordation eosts. • • ,.
<br /> � 21. �ateossor Truatee. Lender, at Londor's option, may remove Trustee and appoint a successor trusteo by first, maiiing a copy ot the �
<br /> • substitutlon o!trustee as requued by appticabto law,and then,by fiNng the sub9titutlan ot Vustee tor recotd in the oNice Of the reglster of deeds ' `•r
<br /> � of each county in wtfich the uust praperty,or some part thereof,ic situated.The successor uustee,withaut conveyance of tha property,shall
<br /> � � succeed to ail the Dower,dutles,authori3y and titto of tho Trustae named in the Coed of Vust end of eny succsssor trusteo. , . �
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<br /> � BIWKERS SY5TEMS.�NC.5T CLOUD.MN 58301 11$OQ397-43OU FORM W'P►.ttGNE 6�1991 � - .
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