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<br /> COVENANTS , , -
<br /> 1. Poymonte. Bnrrowor aprann to mako pll ppymonte on tho oocurod dobt whon duo. Unl000 9orrowor und Londor nproo athorwi9o, any ,. � .a.
<br /> pnymonta Lander recelvoe from Borrower or for Borrower'e benoflt wili bo oppllod flrat to uny nmuunto �orrowar owos on the cocurad dobt „
<br /> � oxcluefvo of Inturest or prfncipal,second to Intereet, and then to principel.If pertlel prepayment of tho sor,urod dobt occure for eny roaaon,It will ;
<br /> not roduco or excudo eny aohedulad payment u�til the secured debt Is pald In full. '' ;
<br /> Y. Ct�lmi ApNnst Titl�.Borrower wlll pey all texee, aseeaemente,and other cherflee attrlbuteblo to the proporty vehen due ond wlll dafond titlo ��
<br /> to the propertY a�pNnat any clelms whlch would Impalr ihe ilen of this doed ot truat.Londor mey require Borrower to esslpn any rights,clalme or
<br /> defenee�whlch 9orrower mey h�ve ayeln�t pertiae who eupply labor or matnrlelo to Improve or melnteln the property.
<br /> 3. Ineurenc�. Borrowor wlll keep the property InBUrod under torms accoptatrte to Lender at Borrower'e erponae and for Lendor's bonefit. All
<br /> fn�unncs paliclec ohall Include e stenderd mortpepe clause m favor oi Lender. le�der will bo n�mod aa loafl payoo or nc tho In!surnd on any such � -
<br /> or�to the�eeeured debtl I}lenderPequir e�mortgape Ine�urence�t Borrowee eprd�earto�melntalntsuch iressurenaetfoi ae lonples Lender�equlres roporty
<br /> � 4.Prop�rty,Bo►tower wlll keep the property In good condition end meke all repalrs reasanably necesaary. ` _
<br /> � i 8.Fa�p�nsu.Borrower apreea to pay all Lender's expensea,Includlnp reesonable etYOrneys'feea, If Borrower breaka nny covenants In thie deed •
<br /> � of truat or In any obtl8atlon secured by thla deed of truat. Borrower will pay theae amounte to Lender as providod in Covenent 9 of thle deed of �
<br /> � truat.
<br /> 8. P�lar S�curity Int�nats.Unlesa Bonower flrat obtaina lender's written conaent, 8orrower wlll not maka or permit any changes to any prior
<br /> eecurity Intereste. Borrower will perform all ot Borrower's obllgations under eny prior mort8�9e, deed of truet or other socurity agreement,
<br /> inctuding Borrowor's covonants to make paymente when due. ,
<br /> 7.Aalpnm�nt of R�nts e�d Proflt�. Borrower aselgna to Londor the rente end profits oi the property.Unless Barrower and Lender hevo agreed �.�
<br /> otherwfeo In writing, Borrowor may collect and retain tha renta ns long as Borrower Is not in defauit. If Borrower defouits, Lender, Lond9r'a •;:-,��c.
<br /> egent, or a Court appofntad recelver may teko posseasion and manage the property and collect tha rents. Any rents Lender coliects ahull be .
<br /> necereary related expensea iThe remalning a ount of rents will then apply to p�ymente on the eocured debt ae prov ded In9Covenant 1 Any other :,_ _-_ :
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<br /> 8.L��s�hdds•Condominlur��a;Rloenad Urcit Davdopm:nia.Borro�ver e rees to comply with the provialons of any lease if thls deed of trust is on ,, i,'��.�
<br /> e leeaehold.I�thla deed of truat le on a unit in e condominium or a pQannad unit dAVelopment, Borrower wiil pertorm all of Borrower's duties ����;,•.
<br /> undor tho covonants,bylawa,or regulationa of tho condominium or plannad unit dovelcpment. q����
<br /> 9. Authodty of L�nd�r to P��form tor Borrow�r.If Borrowar fnila to perform eny of Borrower's dutiea under thie deed af trust, Lender may '��;
<br /> perform the ddtles or cauee them to bo perforrned. Lender may sign 8orrower'a name ar pey any amount if neceasary for performanco.If any �„s ;
<br /> conatruction on the property la dlacontinued or not oarried on In e reesoneble mannor, Lendet may do whctever le neceseary to protect Lender's �
<br /> securlty lnterest In the property.Thia may include completing the cansuuotion. ��,��,
<br /> Lender's fallure to perform will not preclude Lender t�om oxercisi�g any of Its other rights under the law or thfs dued of trust.
<br /> Any amounta pald by Lender to protflct Londer'a aecurity interest wfll be secured by this daod of truet.Such amounts will tre due on demend � y�,.
<br /> 'f�'� and will bear Interest irom the dete of the peyment until pald In full at the intereat rate In effect on the secured debt.
<br /> � 10. D�fauit�nd Acc�l�nUon. If Borrower fails to make any payment when due or breaks any covanenta undar this deed ot trust or any
<br /> oblipetion eecured by this deed of truat or eny prior mortgage or deed of uuet, Lender may eccelere��cebte lewurity of the eecured debt and
<br /> demend Immediate payment and may invoke the power of cale and any other remedies permitted by app . , ,
<br /> ` — 1t.R�quat to►i�otic�oi u�iwii.ii ia iurrnGy idyUo62ou ihai cc�t�s a!iha r.a:!css o!d�leul2 snd eala h�aont to each Qereon who is a party ' �'� ' � _
<br /> hereto,a4 the addresa of each euch person,as set forth hereln. • �' �
<br /> 12.Pow�r of Sr�.It the Lender invokea the power of sate,the Truatea shell flrst reaord In the office of the regiater of doede of eaah county �� ;. �
<br /> wherein the trust property or rome part or percel thereof is situated a notico of default r,ontelnin the informatlon required by law.The Trustee �,•
<br /> ahell elso meil copiee of the notice of dofautt to the Borrower,to acch person who is a party �ereto, and to other pereons as prescribed by �
<br /> appilcebte lew. Not lese then one month efter the Trustee records the notice ot default ar two morrtha if the trust property Is not In any •r 1
<br /> inco►porated cfty or vtllaga and le used In farming o�perattone carried on by the trustor,the frustee shali give publia notfce of sala to the peraons �, ,y,
<br /> � and In the manner preecribed by epppllcebie law.Truatee,w(thout demand on Borrower,shell sell the property at publlc auction to the hlgheat �
<br /> • , bidder. If required by tho Farm Homestead Proteotion Act,Trustee ehall oifer the property in two separate salea ae required by appifaahlo law. ,.
<br /> l� Trustee may postpone eaie of all or any parcel of the property by public announcement et the tima and place of any prevlously Bcheduied sale. Jt �
<br />_, ,�, Lender or ite desipnee may purchase the property et eny sale. t
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<br /> � Truatee's�deed ahall be�prime'�tecieCe dle ce of tho teuth of the etatement�conteined thereintlTrusteefshall apply th pruceeds�oif the eele in the _
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<br /> foitowing order: (a1 to ell expenaee of the aelo, Includinp, but not Ilmfted to, reeaoneblo Truetee's feea, reeaonebte attarney's feea and
<br /> ' :� rotnstetement feee;(bl to all sums secured by thle deed of trust,end(c)the balence,If any,to the persons legelly entitled to receive It. -
<br /> � 13.Fonclowr�.At Lender's optlon,this deed of truat may be forectosed In the manner provide by epplicable 18w for foreclosure of mortgapea �_-+'�
<br /> y'_ ;.� on ranl property. ;--�-
<br /> w 1q,Insp�atlon.Lender mey enter the property to Inspoct It if Londer gives Barrower notice beforehertd.The notice must state tha reaaonable -:��qs-
<br /> * oauao for Lender'e Inapeotion. ,...__._____
<br /> r 16.Cond�mnrtion.Borrower esslg�ns to Lender ihe proceeds of any eward or cleim for damagea conneoted with a condemnation or other teking __—
<br />=: ' � of eil or eny part of the property.Such proceeda will be applled ea provided in Covenant 1.This esaig�ment la BubJeot to the terms of eny prior _._
<br /> eecurity agreement. ��-
<br />•"�. 18.Wat��r.By exercisfng any remedy evefleble to Lender,Lender doea not give up eny righta to latsr uce any other remedy. By not exerclaing �����-
<br /> •• � eny remedy upon Borrower's defauit,Lender doea not weive eny right to leter conaider the evant a defeult I}it heppena agein. '�=
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<br /> ' 17.Jdnt�nd Sw�ni Lhbi • Co-sipn�tr, Succ�stws md Aulpns Bound.All dutles under this daed of trust ere Jolnt and severat. Any __ _�
<br /> � Borrower who co-aigna thla�eed of truat but does not co-sign the underiYIng debt instrument(s) doea eo oniy to erant and convey thet ^- -,:�, -�.:
<br /> Borrower'e Intereat in tho property to the Trustoo under the terme of thie deed of uuat.In eddition,such e Borrower agrees that tho Lender and '.�� ;�..�`
<br /> � eny other Borrower under this dead of truat may extend, modifv or make eny other chengoa in the terms o4 this doed ot truat or the socured :r;. �
<br /> debt without that Borrower'e consent and wlthout roieesing that Borrower from the terms of this deed ot trust. .: - t
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<br /> Tho dutles and 6eneflts of this deed of trust shall bind ered benefit the euccessore and aseigns of Lender and Borrowor. �`• ;i�, '�����tg�ti' `.��s '
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<br /> 18.NoUc�.Unloss otherwise required by law, eny notice to Borrower ahall be givon i�y delivoring it or by maifinp it by certified mell eddresaod to . � ,1��,���_.,..
<br /> � Borrower at the propo►ty address or any other eddroea that Borrower has plvon to Lender. Borrower wlil give any notice to Londor by certifiod .. _.� .
<br /> meil to Lender'e addrese on page 1 of thia deed of trust, or to eny other addreaa whfch Lender has desfpneted.Any othor notico to Landor shall .
<br /> be sont to Lvndor's addrese es statod on pege 1 of thle deed of trust. •
<br /> Any notice shall be doemod to heve been given to Burrower or Lender when given In the menner etated abovo.
<br /> 18.Tr�nifN of tM Prop�rty a�B�m}Ic1Y IntH�st In th�Borrow�r.If all or any part of the propertV or eny Intorast in it Is sold or tran�ferred `
<br /> � ' without Lender'e prior written conaent, Lendor mey demend imrnodiate payment of the secured debt. Lender may alao domand immedfate
<br /> demandtp�aymangfn�the�ab�ove eituationsr if liis prohibted by fede�el taw ae of tAo dete�of this deedlot trust nsferred. Howevor, Lender may not �
<br /> 20.Rsconwy�nc�.Whan thc obligation socurod by thfs dood of hust hss heon pnid, snd Lender has na turthsr obligatSon to meke odvoncoo
<br /> under the Instrumants or agreemonta aocurod by this deud of trust, the Trusteo shnll, upon writton request by tha Lender, reconvey the trust
<br /> proporty.The Lender shall deUver to the Borrowor, or to Borrower's successor In Interost,the trust deed and the note or other evldence of the
<br /> _-_ . . __�_.._.a n'_"""'�.���..�..�......w....1.�Mwwne�u
<br />_.. _.. .. _ _..� vougeiion o4 eai�anw.ov�.v..o� o..a..�,,.� ....� ....,...._.._.."'._. _-.- - - -- �
<br /> 21. Succ�ssor Trust�s. Lendsr, at Londor's o tfon, may removo Trustee and appofnt e successur trustee by first, mafling o copy of tho �
<br /> I substitutlon of trustee as requirod by applicuble Paw,and thon,by filing tho substltutlon of truatoe for record In the oNico of the registor of deods
<br /> of each county In which the trust property,or some part thoroof,la situatod.The succoasor truetuo, without conveyanca of tho proporry, shnll
<br /> succeed to ell the power,dutfaa,outhority end title ot the Trustee namod In the deed of tn�st end of any succoasor trustee.
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<br /> BANKERS BY6TEMS.INC..6T.CLOUD.MN 6E301 11•000•397�I3411 FORM OCP�MTGNE 8/18181 __
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