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<br /> 1 COVENANTS �� � ,
<br /> payments Lend rrroco/voaflf om Bor owor or loyBorrowor'a bor oflt wi�ll boboppl od ftrot to ony�mounto Borrowor ov+os�or.thatsecurod dobt s
<br /> � not reduce ornoxCUBe�any�schcduled peymen�tuntfl thv aocured dobt Is�pe'!d in}I�j�el prepayment of tha aoc��rod dobt occura for uny ronoon, it will =
<br /> 2.Cl�ims Ap�in�t Ttl1�.Borrower will pay ell taxea,a�ko smenta, and other charnae ettrlbuteble to the proporty when due and wl��dafond titlo � i
<br /> to the pruporty epafnst any clalms�whlch would Impalr th�Ilen of thle doed of truat.Lender may roqulre Borrower to assign any riphts,cleima or ,
<br /> detenfes whiCh 9orrowet may hsve op�iMt partles who aupP�Y�abor or matetlels to improve or melntaln tho property. ,
<br /> 3.Insunnc�• Borrowor wltl keep tho{rroperty Inaured under terms acceptebte to Lender et Borrower's expenne and for Lender'e benefft. All
<br /> I Iniurence pol:cyeAnv�inaurence proce demayrt�e apD�led�withln LendersddiecreUonr o��ether the�reatoretioneorropar8of tho�damnU d pfoPa tY ,
<br /> 1 or to the aecurod de�•.If Lender requlrea mortgepe Imurance,Borrower egrees to melntaln such Insurance for ae long as Lender requirea,
<br /> ,� � 4.Prop�rty.Borrower wlll keep the Droperly in pood conditlon and meko ell repaire roasonably neceeeary.
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<br /> 6.E�cp�nsu•Borrowor eprees to paV all Lender's expennes,Including reesonable attorneys'fees, If Borrawer breaks any covonants in thls�ieed
<br /> � of truet or In any oblipetlon secured by thls deod of trust.Borrower wlll pay theae emounta to Lendor us providod In Covenent 9 of thfs deed of �
<br /> � truot. _
<br /> 8.Prla S�eurityr Inten�t�. Unless Borrower first o6telns Londor'a writton conaont, Borrower wili not make or permit any chAngea to any prlor
<br /> socurity interests. Borrower wlll perform a►I of Borrower's obllfletlona undor any prior mortgepe, deod of trust or othor sacurity aflreemo�t,
<br /> Includlnp Borrower'e covenants to make paymante when dua.
<br /> • othe�Nisemn�wr�Iting�8on^ower�ma caileGteend re�taln theerentstea Iong ao Borrofwor istnotpin dete It�If Bonower defeults�Lender�lendors ,
<br /> app led first to the costs8oirmaneginmgthe prope.ty,IncludBn gd court coat 8 end att rn noye cf ea t commisslons L rrental egente�a�ndteny thee ,,�
<br /> • necesoery rniated exponaes.The remalning amount of rents wlll then epply to paymente on the secured debt es provided In Covonant 1.
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<br /> 0.Loxeha!ds•Coredom�niurru;Plannod Udt Owdopm�nts.Borrower nS�reea to comply with the provisions of any Ieese ii this deed of trust Is on
<br /> ', e teasehold.I�thls deed of trust Is on a unit In a condominium or e planned unit dovolopmunL Borrower wNl partorm aii of BorrowaYS duties �_ __
<br /> � � und�r the covenents,byIsws,or regulations af the condomfnlum or plenned unit devalopment. �-
<br /> • 9. Authority of L�nd�r to Pefwm fa 8arow�r. It Borrower fella to petform eny of BorrowoT's dutiea under this deed of t►uct. Lender mey �.
<br /> � , consuuction ont�the proparty is dlaco tin ed or n t cae led on In e reasonrab eemanner,LenderY ey do what ve raenecessaryt o pr t ct Lender's , _
<br /> security interest In the property.Thls may Includa completing the construction. �
<br /> `' ! I Lender's failure to parform will not preclude Lendor from oxercising any of its other riphtd under the law or this deed of trust. �,_
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<br /> AnY amounts palJ by Lander to protact Londer's security interest wiil be secured by thfa deed of trust. Such emounte wili be due on demend
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<br /> � e end will bear(nterest from the date of the�Sayment until patd in full at the Interast rete in effect on the aecured debt. ;s .�
<br /> �, 10. D�fauk�nd AccNe►�tion• If Borrower felle to meke any payment when due or breaks an covonants under this deod of vuat or nny °�'
<br /> • �{ obfigstion secured by thls deed of trust ar eny prlor mortgege or deed ot trust, Lender may accelere��Qeble awurity of the setured debt and �' ��
<br /> ,; ti demand immediata payme�t and mey i�voke the power ot sale end eny other remedles permitted by app
<br /> __ ____-_��.. �i.����.��agr.,.s n.},�.�e.It is heroby reauested that coples of the notices of default.and sele be sent to each person who Is a party �
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<br /> herato,et the addrese of each such peroon, ea set torth herain. ,,
<br /> • � 12.Pow�r o!S�le.If the Lender Invoke�the power of sele,the Truatee shall flrct rocord in the offlce of the replater of dooz7e of each county _
<br /> whorein tlw Vust proporty or some part or parcel thereof is situated a notice of defeult contelning eieto�e�nd to�otheQ pe sons�ea prescrl6edtby ',
<br /> "�•'�?�: ahali elso mail coptes of the notice of defauit to the Borrower,to eacl�person who la a party h �,
<br /> ' ij��: applicable iew.Not le�s than one month after the Yruatee records the notice of defeult or two manths ii the trust property is not in eny •,,�,
<br /> Incorporated city or vlllage end la used In farming operatione cerried on by the uustor,the frustee eheli give public notice uf sele to 4hn pereona ���
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<br /> end in the manner prescribed by epppticab�e law.7ruatee,without demend on Rorro Perr,t yehail aell the praperty et publ�io euation to��cable9l w { ���
<br /> bidder.It requirsd by the Fum Homesteed Protection Aot,Truetee ublio ennouncerreent et the time and plece�of enyrpreviously t pheduled e�le. ;"_
<br /> Trustee may postpone sele of all or any parcel of the properry by p
<br /> Lender or Its desipnee may purcheae the property at eny sele. �,
<br /> U on recelGt of aYment of the price bid,Truntee ahell delivet to tho purchnser Tntetee'e deed conveyinft the prnperty.The reclUNo contalned in
<br /> �!` Truatee's deed shell 6e prime facle evldlence ot the truth of the etatemente contained thereln.Truatee shali apply the proceeds of the eale In the _ -
<br /> following order: (a1 to ali expenses of the sele, Including, but not Iimited to, reasoneble Trustee'e foes, reasonable ettorney'e feea end
<br /> roinatetament fees;(b)to ell aumt secured by this deed of trust,end(o)the balance,if any,to the persons Iepeily entitled to recelve it.
<br /> ' 1�.Fonclosut�.At Lender'e optlon,thit daod of trust mey bo forectosed in the manner provlde by applicebte lew for foreclosure of mortpages �1,,�-
<br /> ' on real property. ' �� :���"
<br /> , ti,, ` 14.ImMOtion.Lender may enter tha aoperty to Inspect it if Londer givea Borrower�otice beforehand.The notice must state the rot�sonabte
<br /> cause for Lender'e Inapeatlon. .
<br />' 16.Cond�mn�tlon•Borrower asRl Qna to lender tho roceeda of any award or claim for demagea connected with a co�demnatiun or other teking
<br /> ' ' of all or eny part of the property,5uch proceoda wIP be applied as provided in Covenent 1.Thls esslgnment is subJect to the terms of eny prior
<br /> ' , aecurity eqreement. �
<br />''� 18.WdvK. By exerciting eny remedV avaitable to Lender,Lender does not give up any righte to letor use eny other remedy.By not oxercising ___ __
<br /> � � eny remedy upun Borrower's dofeult, Lender doea not welve eny right to later consider the�vent a default If it heppens egein.
<br /> � 17. Jofnt tu�d Ssvwal LI�:Castyn�rr, Successors �nd Asdpas Bound. All duties under thia deed of Vuat ore Jolnt end several. Any ._:� -
<br /> „' Dorruwer who co•signs thls eed ot trust but does not co•sign the under1ying debt In�trurll�ntls) does eo only to grent and convey xhat _
<br /> ' Botrower's intereat In the property to tho Trusteo under the terms of thle deed of trust.In nd4ition,such e Borrower agrees that tt�e Lender and ��,Y
<br /> eny othor Borrowor under this deed of trust mey oxtend, modiiv or meke any other chan�oa�1�the terms of thla deed of trust or the secured
<br /> � deSt witMut thnt Borrower'e conaent end without roleasinp that'Borro�ver from the terma of thia deed of truet. �.�'�""'- __'�
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<br /> The dutlee end benefka of this deed of trust ohall bind and beneflt the successarc and assipna of Lender end Borrower. �v � �-a��:,
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<br /> `�' 18.Notla.Unleae otherwiso requirod by law,any notice to Borrower eha0 be glven by delfvering It or by meilinp It by certified meil addreasad to �::.
<br /> . �y'� Botrower et the propercy eddrasn or any other eddress tha:Borrowor has given to Londer.Borrower will g'sve any notice to Lender by certified _
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<br /> � mall to Lender'o eddresa on page 1 of thia doed of Yruat,or to any othor address whlch Londer hea dosipneted.Any other no4lco to Lender shall ��,�::. .:.Ye:. �L.:-., ..
<br /> be sent to Londer'6 eddreas ea nteted on pepe 1 of thfe deod of Vuet. "` ���• ����
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<br /> ' �. Any�iotico ahell be deemed to have beon givon to Borrowor or Lendor when p iven in t he manner s tated abave. - ^i�:���:::_'`.-. .�
<br /> t 19.T��f�r o}t1»Propsrty or�B�n�flclel lnterest in th�Bwrowar.If ell or nny part b}tFfb propert1r or any Interest In It la sold ot trensferrfld �._w.;�;;.-.
<br /> • � � without LendeYa prior written consent, Lender mey demsnd Immediete pnyment of the secured debt. lender moy eloo demand irnmodiete
<br /> - t payment If the Borrawer la not a natural poreon and e beneficlel Intarest in the Borrower le sold or transferred. Howevor,Lender mey not
<br /> ' demand payment in the ebove einiatiana if it Is prohibited by fodernl lew es ot the dete of��his dead of truat. .
<br /> � 20. R�conv��tanc�.Whdn tho obllgetion socurad by this dood of truet has been paid end Lendor has no further obligation to meko edvancea •
<br /> ' under the instrumente or egreomenta ser.ured by thfs deed of trust,the Trustee shetf upon written requeat by tho Lender, reconvey the truet
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<br /> p�r�o�mty�T�he�eid�deBo�rrnwer shalltu vBenv recordatlongcoets er's successor fn Intnrest,the trust deed and tho nate or other evidence ot the
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<br /> 21. Sua�saa Tn,�tw. Londor, at Lendor's option, may romovo Trustee and appoint o successor t�ustee by first, mofling a copy of xhe
<br /> substltuUon of trustoo as roquirod by app►Icebto law,and thon,by filin the substitutfon of trustee for rocord in tho office ot tho rogistor of doods
<br /> succe d tou i�he powor tduneeeeuthorit�y end titio of tho Truste nn�o�i�°di,a aaed oi t usi a d of a Y'BUCC09 0�tU8LU9,ot tho proporty,8hail •
<br /> Ipaps?ol?I
<br />- . OANKERS BYSTt7.1G.�NC.,8T.ClOUD.MN 6630111•800397•13t11 FORM OCP-MT6NE 0119/81 •, �
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