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<br /> -. , �-,� 1.Psyme�.Bomower agrees to make aA payme�tts on the se+auad debt wE�on Que. Untos9 Bonower end Lendcr egrao otherwlsa, amr ' ' "�` .
<br /> paymertte Lender�ece[ves from Bonawer or far Barrowefe heneftt wID he appUed first to any amounte 8orrowor nwoa pn tfio eseeured debt + K. �
<br /> - exetusive of imerest a prindpal,aecand to h�ter6s4�nQ tAen 4o prtnc(pa1.N�t al prepaymerK ot the cocurod EoLt ocaus for any�oason,it will � ���.
<br /> , not reduce a exeuse ariy scAedul�Q�ayment unU7 ths seuued dabt is patd fn tuU. �. � .�
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<br /> � ^ Z t�m9 Agat�st TiBe.Bortower wi0'pay aA-�es.assessmer�,and otner ci�arges attrihutahto to the property whsn Que and wfl!�etend tlUe . ,
<br /> to ths pronerty�i nst any ctaims wt�Poi�d'itouid iri�pair the fien af tA[s deed of trust.Lender may�eQulre Borrower to assign any rights,elaims or , .
<br /> ' , defenses whic7i�ormwer may havo-�gai�t parties who svpply IaDor or materiats m improve or maiMain the property. ;� ,
<br /> ` : 3,ir�rance.Bor►uvrer will[tesD the DroDerty ins�ued under terms accepta6te to Lender at Hcrtower's expense and for Lendere benetit.AII • � • � -
<br /> in5�aanee poficies sha0 include a stanQard mortgage ciause in fawr of Lender.lender will be nemed as loss payee or as the ins�ued an sny such � �
<br /> . " . ��`� Insurance poficy.My irtsivance praceeQs may 6e applied.writhin Lender's disc�et�on,to either the restaration or repab of tAe damaged propeny .. • ~.`� `� .
<br /> -� . � or to the seanad�eGt tf lsndet requUes mortgage�nsutance.Bortower agrees to maintain sueh ir�uanee for as tong as leaCer reQuires. . � , . .
<br /> • _ 4.Prapeny.Bortowe�wiU keep tAe property in gaod condition and make a!1 repafrs reasonabry rteeessary. ' ` '. .
<br /> `� 6.Eapensoa Borrower agrees to p eli dandei's e�enses,inelucGng reasanabie attomeys'tees,if Barrower 6reaks any covenarts in this deed ° .
<br /> _� = ot trust ar in arry ob6ga�an securei�thia deed of trust.Botrower vmli PaY these amou�to Lender as provided in Covenant 9 ot this deed of `- � ' .-`-.<<--�
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<br /> � �: 8.Pdw Securlty interests.tls�tess Bortawar Hrst abtaina Lendefs written consent.Borrower w01 nat make or permit eny changes to any prior r ,
<br />- ` . security interests. Borrovrer will perform all of Borrowefs obCgations under any prior mortgag2,deed of trust or other security agreemerrc, � '
<br /> inctuding Barrowe�a wvenaMS to make paymerns when due. , ,
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<br /> - � 7.As�gnmeM of Rertts m�d Fraftts.Bonov�er assigns to Lender the rems and profits af the pr�perty.Un(ess Borrower and Leadar have agreed �;,-.' �� �
<br /> ' oth�rwise in writing,Borrower may totteet and retain the rerris as loog as 6orrawer is not in defauJt.H Borrowsr dataulta,Lender,Lendera
<br /> E . • agerrt,or a wurt appoimed reteiver maY take possession and manage the property and wUect the rerrta.Any rents lender coltecu shail be '
<br /> .`_- appGed fust M the costa of managing the praperty, including tourt costs and attomeys'fees,commissions to rerttal agert�,and any other � ,
<br /> . - _ necessary related expenses.The remawng amouM of re�v+dll then appty to paymeMs on the seaued debt as Rrovided in Covenara 1. .,s.�,� r,:�.-
<br />;.:,s `" � r� 8.Leaseholds•Candamtrdians;pl�u�ed tlr�tt Dev�!loyme�.Bortower agreea to compfy wfth the provlsions of any fease H this desd of trust is on .:_�'
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<br /> � a IeaseFmld.t�thLs deed of Vu�t is on a unit in a condominlum or a ptanned unit developmortt,Borrower wiil perform ali af Borrowers duUes ',;`-,�:
<br /> , , under the covenanta,by-fawa,or teguiattona of the c:ondamintum or pianned unit devetopmern. � �
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<br /> � g,puthority c}L,ender to Patform tor Borrower.If Barrower fai7s w perfarm any of•Borrovrer'e dWes under this aeed of tnisL Lende►may ��, __
<br /> . . perfotm the duues ar cause them to 6e performed. Lender may sigr�Borrower's name orpa y an}r amnunt if necessary for perfortnance.If any � � � y.:;
<br /> ' eonsuuction on tha proparty is dismntiwed or not carcled on in e reasonable manner,Lsnder may do whatever is necessary to pratect LendeYs �,.,� ; c. �: _
<br /> sewrity irrterest in the propsrty.This may indude compleUng tfie constructton.
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<br /> . ' ;�y,,. LendeYs faihue w p��+will not prectude Lender f�n exercistng arty of ita other rigMs under the law or this deed of trus�t. ��• � =A
<br /> �,,:; � ^_"? A�ry amourtts paid by Lender to pro�eet Lander's seawlty trfLerest wi(i be sac:�ued bV thls deed of bust.Sucfi amaarts wili be dua on demand '. ��':_-=
<br /> �d«:a bear irrcerest from the date of the payment urtd7 paid in fa7'�e2 the iMerest rate tn effect on tAe secured AebL
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<br /> ` t. 10. tts7auft and Aaeferadon. If 8onower faits to make any pa5�ertt when Aae or breaks any covenarrca under this deed of tivst or arry , ; �-�` �;_
<br /> ,� ` ,�_r �e obtlga8on secured by tfiis�ed of trust or any prior mortgage or deed oi trust, LenQer may acceterate the maturiiy ot the secured debt and �� -
<br /> demand immediate DaymeM end may fnvoke the pawer of sale and arry other remedies pormitted by appiicebie iaw. ,.Y n,s�_
<br /> f�;r �,��3 11.Re�ast for t�t�ee o4 Oafmdt tt is herehq tequested that oopies of the notices of dafauft and sats be serrc to each person who is a party V' r��
<br /> ,�1 hereto,at the address of each such person,as set foRh herefn. � - -..
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<br /> " �'# 14.Power of Safa.i(the Lender invokes tne pawer of sate,the Tnistee aha11 first record In tha office of the register of deeds of each courty " - -
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<br /> wherein the Vust property or some part ar parcel thereof is situated a notiea ot dafauit eonrain:�.7 the iniormallon�equired 6y lazw.7fte Tiustee r
<br /> , S shall also mail copias o4 the notice of detauit to the Borrower,to eacb person who is a party hweto,and to other persons as presetibed by •.�•-- --
<br /> � '��:i app liea b le taw.P l o t less t h an one mo rt t h a f t er t he T r u s t ee records the notice of defauft or two momhs if the tr ust pra p s n y is not in arry •�'� �~+--
<br /> � , , incarporated city or viitage and ia used in farming opera8ons carried on by the trusior,the frustee ahaD give pubiic notice of sata to the persona �. �
<br /> and in the manne�prescri6ed by apppiicabte Iaw.Trustee,wfthout demand on Borrower,shai se0 tAe praperty at pubiic auctlon to the highest •��f�''�' �
<br /> • _ �• biQder.lf requUed by the Farm Nomestead Ptoteetion Act,Trustee adal!oHer the property in two sepazate safas as required by apptipble law. ."•r� � � ___
<br /> ' Trustee may postpone sale of atl or any parcel of tha pmpeRy by pubitc announcement at the ttme and plaee of any pravfausty scheQuled sate. { ••• .��=-
<br /> • Lendsr w ita designee may purcAese tAe propeRy at a�y salA. Q, � � �.::�
<br /> Upon recefp�of paymertt of tha pdce btd,Trustea shatl defiver to the purchaser Trustee's deed ccnveying the property.Tfre reckiais contained ln ' =q---
<br /> •!"'•-. � -- - •- Tnistes's deed shail b9 prima facie evidience of the uuth of the atatements eomainad thbrein.Trustee shaN app{y 4he proceeAs of the sete�n the � �_-_-
<br /> � toltowing orQer: (a)to all expenses ot the a�te, i�duding, but not Itmited to, reasonabte Tn�stee's fees, reasonabie ettomay�s tees and '-
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<br /> , reinstatement tees;(b)to aIi sums secured by this deed of trust,and tc)the bafanca,If any,to the persons legaily entitfed to receive Ft. • . . s ---
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<br /> ' 18.Foractosura�At lender's aption,this deed oi vust may he forectosed in the mannsr provide by applicabte law to►torectosura oi mortgages ��,
<br /> on real property. . • -
<br /> • t4.btspeetlon.Lender may enter the property to InspecC it if Lender givea Barrawer notice befawhand.The notica muat etate the reasonabie
<br /> ' cause far Londer's Inspection. � ..'��• �
<br /> ��. . . 1b.ConQemnatlon.Bonower esslgns to tsnQer the proeeeds of any award or etalm for Oamagas connected wtth a condemnatlon or oiher taking --
<br /> a. , . ot a0 or any part at the propeRy.5uch proceeds witl ba applled as provldad in Covenant t.Thts assignmant is subject to tha tarms o1 any pttor .. �- —
<br /> � securliy agreoment. �
<br /> • t8.Watuel.t3y exertising any reme�y avaflabte to Londer,Lender does nat give up any righta to later use anY other remedy.By not exercising -=,-
<br /> - any remedy upon Bortower's defautt,lender doea not walve any right to Iater eonsldar the event a Qefautt if it happens again. '
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<br /> . . 17. JoBn and Saverd LtaDp�y;Co-signoro; Suecosson and Ao:►t�a Ba�md. AA duUea under this dee0 of trust are joitrt and seve�al. Any
<br /> •: � Borrower who casigns this deod of trust but Aoes not co-sign ffie undeAY1ng debt instrume�rt(s) does so oniy to grant and cunvey that .
<br /> � � Borrowe►'s interest M the property to the Trustee under the torma ot this deed oitrust.ln add'�on,sucA a Bortower agrees that the Lender anC . . . :
<br /> • � • any other BoROwer under this CeeA ot truat may extond,moditv or make arry other changes in the terma of this Qeed ot trust or the secured .
<br /> , debt without that Borrower's eonsent end without reteasing that Borcowei bom the terms of this Qeed of ttttat. . .. •
<br /> . .� � The Quties and banefits of this dead o}trust shatl bind and berrefit the succassora and assigna of Lender and Bonower. �..'.
<br /> �:.;;, •' � 18.Natice.Untess otherwise�epuired by law,any notfce to Bartower sha8 be given by Qetivering h or by ma0ing it by eertlfled mail addressed to ' ••
<br /> • • Borrower at the property ad�ess ar any other addresa that Borrower has pivan to LenQea Bonrower wfll give any notica to LenQer by certitlod .
<br /> mail to lendera address on pagu 1 of this Qeed o}trust,or to eny other addresa which Lender has designated.Any othe�notice to Lendor shatl . ' .
<br /> , bo sern to Lender's eQdress as ateted on page 1 of this doed of trust. ,
<br /> ' � A�ry noUce shall be deemed to have beon given to Bonower or lender whan given in the manner stated above. . `
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<br /> � � 19.Trans(er af the 7►oacrty ar a Beneft=lat trt[erest tn the Banawae.l!etl or any part of the property or any lnterest in lt la sotd or t�ansferred �.
<br /> . .. without londer's prior written wnsont, Lender may demand immediate payment o}the secured dabt. LenQer may a(so demand immediate
<br /> • � Oayment if the Bo►rower is not a natural person and a beneflcial interest in the Bonower Is sotd or Vansferred. However, Lendor may not '
<br /> Eemand paymerrt in tAe above situattans if it is profr'blted by federa!law as ot tho date of this deed of trust. ,� . '�
<br /> �•� 10.Roeoavoyaneo.Whon the obllgation seeured by this Ceed of trust has been paid and Lender has no turthai obligatbn to make advances . � � •
<br /> . under the instrumants or aIIroomoMa secured by this daed of trust,the Trustee ahall upon written re�uest by the Lender,�econvey the Vust • �
<br /> ' proporty.The Lendor sAall detivar to the Borrowet,or to Borrowar's successor in irrterest,the trust deed and the noie ot other evidonce of tho '
<br /> • abhgatL�n so satisf:e0.Borrower shall poy any�eeardation coste.
<br /> _. . � i Zt. Suueasor Trusmo. Lendet, at Lender's o�tion, may remove Trustee and appolnt a successot vusteo by flrst, maiting a coDy of the � •
<br /> � substitutlon o}trustee as repui�ed by appticabte �w,and then,by tliing the substituUOn of trustee for recorA in the o9ilce of the register o}deeds ..
<br /> af eaefi county in which the trust property,or some part thereat, is situated.The suCeessot Vustee,withoert canveyance o}the property,shall
<br /> suCCeed to all the power,duties,authonty and titte of the Truatee named in the deod ot trust and of any sucCessor ttustee.
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<br /> ; � � ` BANKJ55YSiEMS.INC..ST.CIOUD,MNS83 01 11-500-3 9i�I31fIFONMOCP�MTQNfBlt8/91 -- .
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