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<br /> �' I COVF.WANTH
<br /> peyrt onte Londcr roccivoe�from 8orrowor o�r Tur Borrowor'a bonofit wfdll bobappl ed ftret�to any nm�unte Bor owor odwouPOn thotao urad dabt
<br /> not raduce or�oxcuese eny��echeduled peymeni i�ntfl the eCUeed debt le�pald In(ullal propeymnnt of tho aocurod dobt occura for nny ronnon,it v�fll
<br /> 4.Cl�m�Ay�in�t Tld�. Borrower wlll pey ail taxea,eseesement�, end other chupes ettrlbuteble to ths property whan��o and wiil do}and tftie
<br /> to the property e�nlnet any clalma which would Impalr tha Ilet/�bor or materlele 4o Impr�ove orYmeinteln th�e propsr yp8eien eny riphte,clelms or ...
<br /> defenses which orrower mey heve epains[partles who Qupp y �: -
<br /> � 3. In�ur�ncs. Borruwer wiil keep tha proporty Ineurod under terms eccepteble to Lender at Burrower'a expenae end for Lender's beneflt. All j•;;
<br /> � inauronco pollclon chall lncluAe n etenderd mortgege ciause In favor of Lender.Londor wlll be nemed es loee peyee or ae the Ineured on any euch �
<br /> Infursnce polloy.Any Inaurance proceeda rney be epptled,within Wnder'e discrotlon,to olthor tho ro�toreNan or►epelr of tha damaged propnrty .
<br /> or to the�ecured debt. If Lender requiro�mortgeye Inwrence,Borrower aprees to melntoln wch Insuronce for as lonp ae Lender requlres. �.,�
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<br /> „- 4.Proputy.Borrower wlll keep the property In pood conditlon and make ell repalra reasonably necesaery. 1�,
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<br /> r~�. T 6.Exp�nta. Bnrrower agreen to pey ell Lender'e expenaes,includinp reaaonable ettorneya'fees,If Borrower breaks eny covenents In thls deed Ss�S
<br /> of trust or In eny obligatlon securod by thie deed of trust. 6orrowor will pay theae amounte t�Lender ae provided In Covonent 9 of thls deed of .�!
<br /> ,,;��
<br /> . Itrust. ' i=_-
<br /> � 8.Prla S�curky Int�naU.Unless Borrower firet obtalns Lender's writton consent, Dorrowor will not mako or permit eny chenpes to any prior :i;:_"�
<br /> Includingl8oriower'e covenant It pmeke paymen e�wh nedue.b��8etions under eny prior mo►tgage, daed of trust or othnr socurity e0roemont,
<br /> .`. _
<br /> 7.AsslJinmsnt of R�nts md Proffts.Borrowar aecipns to Lender the rente end profits of the property. Unlese Borrower end Lender heve eg►eed __
<br /> epent,lO�an c ur rt'p p o i n t e d e c o l v e r ml aeyCteke poeRea lon and manape tho propertyrandncollectthe�rontsBAny rontseLender collr�cts shall ba � -_
<br /> applled first to the costc of mana8ing t he praperty, Ineiuding court coats an d a ttorneys' f e e a, c o m m l e s i o n s t o r e n t a l a g e n t s, and en y other � , _
<br /> neceasary retated expansea.The remefni�8 omount of rents will then eppty to paymente on the secured debt as provided In Covonant 1•
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<br /> 8,l.��s�hdd�•Condomidums;Plann�d Uni4 D�v�lopm�nu•Borrower agreea to comply with the provis[ona of any lease I f t h is dee d o f t r u e t s on
<br /> .;,..
<br /> , a leasehold. I�thia dood ot trust is on a unit In e condominlum or a pinnnsd unit development, Borrowor will perform all of Borrower's duties ���%r�
<br /> under the covenente,byiaws,or reguiotlons of the condominium or plenned unit deveiopment.
<br /> {1 �p � :•
<br /> � per�o�r=m tho dutles�or�ceuse tham to be performedf Lende1r may Istgn�8orrowor's�neme�orrrp ayee y amount�f necessery f orperformance�lf any , . .,r:._--
<br /> �' conetruction on the propnrty le discontinued or not carrled on In a reeaonable manner,Lender mey do whetever is necesenry to protoct Lendar's ';,t•,4:-Y.-
<br /> •� security Interest tn tha property.Thie may fnalude comptetinp the construatlon. • . ,��,- —
<br /> Lender's faflure to perform wili not preclude Lender irom exercising eny of Its other riphts undor tho law or thls deed of trust. :..=k�„ _
<br /> Any amounte paid by Lender toate of tha�ed ment until paidtin futl et�theeinteresta ete in�effect on the secured debi unts wfll be due on demmd .�e�.
<br /> ertd will bear interost from the d D Y �:`:+��, ,
<br /> 10. D�l�uit �nd Acc�IK�Uon. If Borrawer falla to meke eny peyment when due or breske any covenente under thla deed of truat or any �-i
<br /> ,r obligetion secured by this deed of trust or eny prior mortqege or deed oi truat, Lender may ecceloralicebie Iawurity of the secured debt and _
<br /> � demend immedfete payment end mey Invoke the power of aele nnd eny other remedles permitted by app �,
<br /> �!,�.��.�r tc►NoUc�of Ddautt.It Is hereby requested thet coples of the noticee of deteult and saie be sent to each pereon who la e party "# ��
<br /> hereto,et tfie address of eech eucA person,ai tet iarih harnii�.
<br /> 12.Powsr o}8r�.lf the Lender invokes the power of sele,the Trustee shell first reaord In the office of the replater of deede of each county
<br />� wherein tha truct property or eome port or parcel thereot Is situatod a notice of defeult contalnln9 the Informetion requlred by lew.The Trustee ;
<br /> erato,and to other ereons as prescribed by
<br /> � shelt elso mell copiea of the notice of defeult to the Borrower,to each pereon who is e party h P ;,'
<br /> applicYble law. Not leac than one month aftar the Truatee recorda the notiCe of default ar two montha if the truat proparty le not In sny
<br /> ' Incorporeted city or villege�nd{a ueed ln 1arminp operetlons carried on by the truator,the fruatee ehell pive publlo notice of eale to the persons
<br /> and In the menner preacrfbad by appP�iaable lew.Truatee,without demand on 8orrower,ahell eoll the property at public auction to the hipheat _
<br /> hidder.it required by the Farm Homeatead Protectton Act,Trustee ehell offer the property in two seperate salea ea required by applicable lew. `'.
<br />�w Truatee mey postpone oate of eil or any parcel of the property by pubilo ennouncemant et tho time and place of any previously scheduleA�aie. !._
<br /> Lender ar Ite designee may purchsae the property at any sete.
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<br /> ' Upon receipt of paYment of the prico bid.Trustee shill deliver to the purchaaer Trustee's deed conveylnp the properry.The rscitlati conteined In
<br />- � ° Trustee'e deed ehall be prime fecle evldience of the truth of the ctatements conteined thereln,Trustee ehall epply the proceeds of the aele In the
<br /> followinp order: (e) to elt expenaes of the sele, Includinp, but not Ilmited to, reasonable Truato�'e feee, re�eoneb[e ettorney'e fees snd ____
<br /> � relnstetement feee;(b)to al!aums secured by thia deed of truat,end Ic)tho balanco,if eny,to the psreons Iepeliy ent(tled to receive It. -
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<br /> s'�`�b�•t.•i�� 13.Fouclosur�.At Lender's optlon,thfs daed of truet may be foracloaed in the manner provide by eppliceble law for toteclosura o mortyages �:
<br /> - ._:..,.�:�:ra:. on rosl property. ,�� .
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<br />_...�;,,,,i_; 74.Intpw tlon. Lender may enter the property to inspect it If Lender gives Borruwer notice boforehand. The notice muat etate the reasoneble w�rq,
<br />--u��•° _��� � causo for Lender'e Inapnotlon.
<br />��-������� 16.Cond�mnrtlon.Borrower eaaiyn�a to Lender the proceeda of eny ewerd or clalm for damages connected with e condemnation or other tekinp
<br />=�;,�•. `. of ell or any part o}the propertN.Such proceedi w11i be applled aa provided In Covenant 1.Thle asaipnment la eubJect to the terma of any prior
<br />-`,^*^' `^'�•� eecurity egroement.
<br />�,ri�,,:�.
<br /> • � s��>; �g,Walv�r.By exarclsinfl eny�emed1r ev�ilable to Lender,lsnder doos not pive u�any rtflhte to leter use any othor remedy. B�nat exerclslnp
<br />-�',i.t.1�.,
<br />:j��►.;*}��,�� eny remedy upon Borrower's defeuft,Leader does not welve eny ripht to leter cons der the event e defeult if it happons agaln. __.
<br />''{`-'�� �'��'��� 17. JofM Md S�trKal LlabWri' Cu•dDmn% Succenon �nd As�ipn� Bouod• All dutiea under this deed of truac ere (olnt and sewni. Any __
<br /> ��'`�:�--� Borrower who co•si0nt this deed of truet but does not eo-slpn the underlying debt insVUment(e)doe� so oniy to grent and convsy 4h�t — —
<br />'- - �=�°'• "� Borrower'a interoit in tha property to the Truateo undar the terma of thle deed of truRt.In addttlon,euch a Borrower eyree�that tho lender end __
<br /> -'�" ° � any other Borrower under thlA Geed of trust mey extend,modifv or meke any othar chenges in the termt of tMa deed of trust or the securod `
<br />'- �?�-� debt wtthout thet Borrower'a consent and without releesinp thet Borrower from the terma of this deed ot trust.
<br />--�,`,�.�'M� The dutles end benefits of this deed of trusY sholl bind and bertefit tha successors and essigna of Lender and Borrower. � — —
<br />" 1 B.NoBc�.Unleat otherwice required by lew,eny notice to Bor►ower ehali be piven by delivering it or by ma(Iing It by certified mall addreesed to _��___i___
<br /> � . Borrowor at the proporty addrese or any othor eddross thet Borrowor has piven to Londer.Borrower wUl give eny notice to Lender by certified �1�,�,�,�,_�
<br /> �'', bo�sent to Lendere add°rese es stated}on p ge 1 of thla deed of vuatther eddrass which Lendsr has deaiQnated.Any other notice to Lender ehell _ _
<br /> .ni Any notice nhall be deemed to heve been givon to Borrower or Lendar when given In the mannor etated above. �.., ,�,,.,�, �
<br /> L., -'._�4d�3f.�?4r'
<br /> 19.Tansflr of the Prop�ty w�Ben�fid�1�nt�ra�t In tM Borrarov�r.If all or eny part�of•th0 properry or eny interest in it Is sold or transferred �;.;._-�,•.�,��s
<br /> � without Lender's prlor writton consont,Lender mey demend Immediate payment of the secured debt. Lender muy aiso domand Immediate •:�:�,
<br /> � : � payment if the Horrower ie not a naturel person end e beneficlal Interest In the Borrower Is sold pr trenstnrred. However. Lender may not ,,,,�i�-::
<br /> demand payment In the ebove eituetions if it fa prohlbited by toderel law ea of the dete of thta deed of Vust. •',•:�:�,j+�±�;
<br /> ..F..;ti�,::w.,.......
<br /> t, 2p, pkonwy�na�. When the obli0etion cecured by thia doed of uuat hee been peid end Lender has no further oblfgation to meke advances �� + '
<br /> ;�� under the Inatruments or egroemonts secured by thla deed of truat, the Trustoe shalf,upon writteo requeat by the Lender, reconvey the truat _ ,_ _ i
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<br /> _--�--_ obUnetlon soesetistied66oi�rowfe rnhelltpa yeny scordetiotiB�o 8=8 er's succesuor in Interest,tho trust deed end the note or other evidence of the
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<br /> 27. Succa�w Tcu�tu. Lender, at Lendor's option, may romove Trustee and appoint a succsssor trustoe by flrst, mofiing a copy ot the ;
<br /> ' substitution of trustee ee reVulred by appliceble law,end thon,by filinp tho subatitutVon of unAteo for rocord in the oftice of 4he ragfster of deeds
<br /> succeod to el�ho powm tdutiese authoriry a d titlo of the TruBt o named in t e deed ot tr�ust and of eny�successo trusteo,cf the property.sheil
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<br /> 1 BANKEf1S 6VSTEMS.WC..6T.ClOUD.MN 6E301 11•S00•�97•23t11 FORM OCP•MtO�NE CI18/81 _ ^
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