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<br /> COVENANTB �V���� �� .�
<br /> 1, P�ymont�. Borrower aprees to make all p�ym�ntt on the oecured aebt whe�v due. Untose Borrowor end Lender apree other►vlao, any
<br /> poymonte Londur rocolvoo trom 6orro��ar or for porrower'e b�noflt wlll bo applled Plret to nny omounta Borrower owes an the eecured debt
<br /> exr,iutive of Intereot or princlpal,�er,ond to tnter��t,�nd then to princlpal.I}partlel prepayment of the�ecured debt occuro for�ny reaoon, It witl
<br /> not reduce or excu e any sChedylOd,p�ym��x��ptll.the/ curad debt le pald In fufl.
<br /> 2.Claim�Apain�t .Bo►rOVf�r �f(�p��y�ll ti7��k;,� s�m�nt�,and other chupas ettrfbut�6le tn the property when due end wlll def�nd tltla
<br /> to the property a mt prly clalm��hlE*Wvbuld�Hhp�lr o u�n of thl�deed of trutt.Lender may requlre Borrower to asdpn�ny ripht�,cleim�or
<br /> defsnia whlch�o owM np��F�W���p�in�t�M�a[WA� aupply I+bor or m�terl�la to improvo or mpintdn the property.
<br /> 3.In�ursnc�. Borrower will keep the propsrty Insueed undu 4erm� accept�ble to Lendor at 8orrower'� expense end for Lendor'�bene}It.All �
<br /> Insurnnco policlac*,hnll Inctude n etenderd mortpepe claune In favor o}Lender.Lender wlil 6e named ea loss p�yea or ae the Insurod on sny Quch
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<br /> or�to the sesuied dsbtl I}Lenderiequlre°i�morty ps IniuranCe�t�oriower ayrilei to�mdlntdntiuch Iniurance for se IonQ+ai Lendererequlree roper¢y
<br /> 4.Propaty.Borrowor wlil keep the pvoparty In good conHltlon and meke eli repalre reesonabiy neceesary.
<br /> �'""`"� � B.Exp�ns��.Borrower egree�to pay all Lender'e expense� Includinp reasoneble sttorneys'fee�,If Borrower breaks any covenantt In thle det+d . ,
<br /> •"* of butt or In eny obilpetlon tecured by thie deed of trust. �orrower will pay theae amount�to Lender ee provlded In Covenent 8 of thle deed o}
<br /> truat. '
<br /> .. 8.P�ia S�curity Int�ro�ts.Unlaes Barowor firnt obtalna Lender'a written conaent, Horrower will nut meke or permit eny changas to any prior
<br /> " aecurity Intereat�. Borrower will perforrti ell of Borrowe►'�otliyetione undor eny prlar mortyape, deed af trudt or other security eereemnnt,
<br /> includiny Borrower's eovenmts to meke payment�when due. - _
<br /> ' l.Astlpnm�nt of Ront��nd ProfEt�.Borrower easlgns to Lender the rente and profite of the property.Untesa Bortower�nd Lender heve�yreed 'R`•W
<br /> otherwiie In writing, Borrowe►may cailect and rotein the rente es long a� Borrower la not in default. If Borrower defsulta, Landet, Lende►'o ,'�:�
<br /> apent,or s court sppointed receiver msY take posaeaelon and menape tho property end collect the rents.Any rents Lender coileate ehall be •� :'•:
<br /> applled first to tho eoste o}meneping the property,Inctuding court eoste end attorneye'feea, eommiselona to rentel agente, and any other . ,
<br /> necessory retsted expensea.The remeiMny amount of ront�wtll then epply to paymentt on the eecured debt ea provided In Covenant 1. �;,a;�:'
<br /> • B.L�at�holda•Condominiums;Plarrwd UnM Dwdopm�nta•Bo►rower apreei to comply with the provinions of eny lonse R thia doed ot tru�t Is on ��°�"
<br /> r �leatehold.If thlt deed ot trust la on�unit in e condominium or e plannad unli�ievalopment,Darrawor vrill parform eil ot Borro+^Jer'e dutfee �"�°'.
<br /> ` under the covenents,bytawa,or re�,ulationa of the condomNlum or planned unit development. ��"
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<br /> 8.Author(ty of Landa to P�►torm foT BorrowN. If Borrower fafl� to�e�form any oi Eorrower's dutlea undor thle deed ot trust, Lender may """`,
<br /> perform the dutie�or esuse them to be pertormed.Lender may sipn orrower'e neme or pay eny emount it necessary for performence. H eny �;i:�
<br /> constructlon on ths property is discontinusd or not cartied on in e roaeonable menner,Lender may do whstever is neceseary to protect Lender'e 1�-=�
<br /> . security Intersat in the property.Thia may inctude completinp the conatruction. ��-.
<br /> Lender'�fellure to perform will not preclude Lender from exercising any oi its a2hor rtphte under the law or thls dead of trust. ��;-
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<br /> AnY amounts paid by Lender to proteot Lender's security Interest will be secured by this deed of trust. Such amounte witl be due on demand
<br /> end wlil 4ar intereai from the date of the payment until paW In tui!at the Interost rete In eNeci on the securcd debt. �-L��—
<br /> 10. Wf�ult�nd AaaMr�Uon. If Borrower tallc ta mnke any p�yment yvhen due or breeks eny covenants under thla deed of truat or any M�'
<br /> - ublipatlon�ecurod by this deed of tru�t or any prior mortq�ge or deed of vuat, Lender may eccelerate the maturity of the securod debt md
<br /> demand Immediete payment and may invoke the powu of�ale and eny other►emedte�permitted by epplicable lew.
<br /> ' 17. R�at for Notla n!O�f�uit.It ti herebv requetted that copiee oi the noticea of defeuit and eate be sent to eaCh percon who la e party r
<br /> ' hersto,i�t the addresa of each wch penen,�t sst foRh henin. _
<br /> 1Z. Pow�r of S�I�. If the Lender invokes the power of sab,the Truetee shetl first record In the oHice of the roQlater of dends of each county =_
<br /> wherein tln truat property or some part or parcel thereof U eitu�ted a notice ot defauit containing the informatinn required by law.The Trustee
<br /> �hdl elio maii coplei of tM not�ce of defeult to the Bonowcr,to each pereon who is�pa►ty fiereto, and to other persons atprescribed by
<br /> �ppliwbla lew.Nat le�a then one month eiter the Trustee rocarda the notice of default or two montht if the truit property le not fn eny
<br /> , ,,, ;, incorporat�d ctty or vill�ps end It used In farminp operrtiom carrled on by the truator,tho frunts�Eh�ll pive publia notics of uls to the persom
<br /> • �nd in the manner pretcribcd 6y appplicabte taw.Truatee,without demend on Borrower, ehall selt the property at pubilo aucUon to ths hiphest
<br /> - •• bidder.lf requked by the Farm Homeateed Protectlon Act,Trustee ehall oNer the property In two oeparste sdes e�requlrad 6y applicabla lew.
<br /> - ' �� Trustee may po�tpone aat�of eil or eny psrcel of the p►opxty by public announcement et the time and place of eny prsviousty ahsdul�d sate. �
<br /> --���"�-=':�'• L�nde or it�deaiflnee may purcheae the propeny at my s�te. ,
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<br /> _ _; ,�,�� Upon rocelpt ot paVm ent of tte price bid,Truetea ahall dolivar to the purcheser Truetae's daed conveying the property.The rocitial�cont�inod in
<br />�•-i:'��• :,• f orltow�dng order61e1 to a11%xpe�iesv�o4 the sate�Inc udlnqh butanot Ilmltednto,�ieaioibleT7rusteee i�feeiP�rei+onabte ittome�P�teeanar�id
<br />,ti��:2�; .'y roinstatsment feea: (b)to ali suma secured by thls desd of trust,md lal the bntance,If any,to the persons IeQaliy entitied to roceivs rt.
<br /> ..�s-'°=-�• �8.Coraclowr�.At 6ender'e optian,thla deed of uuat mey bo forocloaed In the monner prov(de by applicabte law for foroclosure of mortpaAea
<br /> -— ,y:4�� on te�l propo►ty.
<br />-- "�•"';`� 14.Mrp�c.�tlon.Londer may enter the property to inspoet it If Lender qivas Barrower notice beforohsnd.The notice munt etate the reeaonebio
<br /> __�T-;�,��;; c�uaeforlender'�irapsction.
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<br /> �=`-r?�!`- � 16.Cond�rtma8an. Borrower otsiGn�a to Lender the proceedi of eny awerd or clefm for dama�gea conneated with a condemn�tlon or other tekinp
<br /> � ��- of dl a any psrt of the property.Such procead�wlll be applied�e provided In Covemnt 1.Thli asalpnment is subJeot to th�terma of any prior
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<br /> -°�� ,•��.r � tecuritya9nement. °- �
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<br />�d°""'x�"'�'• 19.W�.By exercisine my remedY avaltabls to Lender,Lender doea not 0�ve u�any rlyhte to latet uee any other remedy.[iy not exerclainp ----
<br />- _'�`��� eny romedy upon BonoweYe default,Lender doea not waive any 8ght to later cons der the event a defwit if tt happena epein.
<br /> ,^�---.=-=�:�'�� 17. Jofnt rM Bw�rtl Ll�bNitv; Co�IpnKr. &uae�esors �nd A��Ipnt Bound. All dutlea under this deed of truat are Jolnt and�evenl. Any
<br /> Bor�owx who eo-sipns thii deed of trust but doet not co-siQn the underiYing debt inttrume�t(�1 doet so only to yrent snd convey that
<br /> .�� Borrowsr's IntenK in the proporty to the Truatee under the term�of thla deecl of truet.In eddltion,wch a Borrower epreea tfiat the Lender snd :;_•-
<br />-�" eny ather Bosrowsr under this desd of ttust may eMSnd,moditv or make any other chenpea in the torm�of thie deed of trust or the secured ��
<br />� • --•:.; dabi without th�t Borrower'�conaent�nd without reteaatnp that gorrower from ths terms o1 thla deed of trust. [��
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<br />_--_s�—�r�„r� TM dutlef�nd btnefltt of this deed of Vust oh�ll bind rtid benefit the wccesaors end a�ssipns of Lender and Borrower. _
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<br /> i8.Notk�.Uniets otherwl�e�equired by law,�ny notice to Borrower shail be piven by dellverinQ tt or by mallinp it by certtfied mail eddreaaed to �
<br /> _ - Borrowsr�t the property�ddroaa or any other eddress thtt[3arrower haa piven to Lender.Borrower wfll pive any notice to Londer by certHted �
<br />= mail to Lender'��cAdren on pape 1 ot thl�deed of uuat, or to any other eddreae which l.ender haa designated.Any other natice to Lendor shall �.
<br /> • be eent to Lender's eddresa aa s4ated on pege 1 of this deed of truat.
<br />-_ � Any rwtice shall be daemed to have been yiven to Borrower or Lender when giveo in the manner atated ebove. �`��` _
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<br />-_° 18.Tnnst�r at th�Prop�rty or a B�mflcial k�tsr��t In t!H Bonow�.I}eii or eny part of the propertY or eny Interest In it le sold or transferred
<br /> - ' .. without Lenda�'s wia written aans�nt, Lender may dem�nd Immedlate payment of the cecurod deht. Lendar may elso demand Immediste __
<br /> ' demind piymmen6in the abovs cituallorui If li li proAlbted by fede�alal lew ea of ths date of thli deed�of tru tenaferred. However, lender mey not � •-
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<br /> � 20.R�eurw�yanc�. When the oblipetian secured by thia deed of t�ust has been pald end Lender hes no fuRher o411petion to make edvancea
<br /> . under the InsVume�ts or egroemente�ecured by thla deed of truat,the Truatee sheif upon written requeat by the Lentler,recontey the truet
<br /> - --- 1a.- oV/1ceUon�o eatiefdied Bo�aowe rshailtpay eny rowcordetlonB�Bie er's successor In interest,the trust deed end the note or other evidence of the
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<br /> ' . ,� 21. Succne9r TtustN. Lendor, et Lendor'e optiort, maY removo Truatee und appoint e succesaor trustee by first, melling a copy of the „��
<br /> subsNtutlon of truatee as requ(red by applicable law,end then,bY filinq the substicutlon of Vustae for record fn the offlce of the repiater of deed�
<br /> oi eaCh eounty In whlch the trust properry,or some pavY thareof, is situated.Tho succossor trustoe,wfthout conveyence of the property,shell
<br />_ „ �� „� aucceed to eil the power,dutiee,aufhority and title of the Trustee named In the deed of trust end of eny successor trustee.
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<br /> � BANKERS SYSTEMS,INC.,ST.CLOUO.MN 6E�01 I7-0OPJ97•2��11�-0RM OCP-M74-NE El19I81
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