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<br /> COVENANT3 9�
<br /> 1. Pt,ym�nts. Uorrower eprooe to moko eli peymento on tho e��curod dobt whon duo. Unloae Borrowor and Landor eprao othorwlae, any '
<br /> , poymente Londer rocaivoe from Borrowor or lor Bor►owor'o bonofit will be npplled tirat to ony amounte Borrowor owoe on tho eecurod debt
<br /> oxcluaivo of Intoront or principai, aocond to lntoroet,and thon to princlpol.It pnrtial propnymont of tho eocurod dobt occuro for nny ronaon,it will
<br /> not raduce or oxcuso any acheduled payment until tBe Becured dabt Is pnld tn full. I ,
<br /> 2.ClNms Apainat Titl�.[�orrower wlll pay ail taxos,es�eaements, nnd othes char�oa attrlbuteble to the property when due end will detand tltie
<br /> to the property e�peinat eny clelme which would Impelr the Iien o}thia deod of ttuet.Lender may requlre Borrower to essipn any riphte,clalma cr
<br /> de}enaes which 0orrower may hnve apalnat partiee who eupply Icbor or meterlels to Improve or melntaln the property.
<br /> 3. Intunnc�. Borrower wlil keep tho proporty Insurcd under terms accepteble to Lender at Borrower's expenae and for Lender's benefit. All
<br /> , ineurance pollcles ehall Include a etendard mon{�epo clauso in}avar of Lender. Lander wlll be namod as Iose payno or ea tho inaured on ony auch
<br /> insurance policy.Any in�urance proceedc may 6e appllod,within Londor'a dlccrotlon,to althor tho roctaratlon or ropair of tho damaflod proparty
<br /> �' or to the aecured debt.If Lender requh�ea mortgege Inauronce,Borrower egreea to malntafn such IneuranCe for es long as Lender requlros. .,�i:._
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<br /> � 4.Ptop�rty.Borrower wllt keep the property In pood conditlon and make ell ropaire reasona6ly necessary. - '
<br /> ; { 6.Exp�nta.Borrower egreen to pey all Londer's expenaes, including reasonable attorneys'fees,ii Borrowor broaka eny covenante in thla deed ;i -y;.
<br /> 1 of trust or in any oblipatlon secured by thls deed of truat.Borrov�or will pay theae amounte to Lender as providad in Covenant 9 of thia doed of '•
<br /> t��ot. ��:.��
<br /> i 8.Prlot S�cudty lM�tat�. Unless Borrowe►Flrst obte(ns Lendar's wNtten consent, Borrower will not make or perrnft ony chenges to any priot •�,;,;,;
<br /> � security Interea4s. Borrower witl perform ell of Borrower's obligetlona under eny prior mortgage, deed of trust or other security agreement, , _
<br /> � including Borrower'a covenante to meke payments whon due. -"__-
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<br /> 7.AsslgtNff�nt of R�nU�nd Proflt�.Borrowet assigna to Lender the rents and protit8 of the proporty. Uniess Borrower and Lender have agreed � --
<br /> otherwlse In vrtiting, Borrower may colloct end retain the ronts as long as Borrower is not in default. If Borrower defautts. Lender, Lunder'a =
<br /> � agont, or a court appointed recelver may teke posaesaion and manage the property end collsct the rents. Any ranta Lender coilects shall 6e -
<br /> ' applied first to tho coste of inenaging the property, includint1 court costs and attorneys'fees, commissions to �ontal agents, and any othor -
<br /> necassary relatod oxponaoa.Tho remaining amou�t ot rants will then appty to paymente on the&ocured debt as provided in Covenant 1.
<br /> a 8.L��s�hdda•CondwnlnNtm�;Wsm�d Unit O�vMopn»nt�.Borrowar e rees ta compty with tho provlslana of any laese if thla deed of truat is on .'
<br /> ` e leesehald. 1�thiR deed of trust le on a unit In a condominium or a pQenned unft devolopment, Borrower wlll perform all of Borrower'e dutlea �`'_
<br /> . under the covenenta,by-Isws,or repulations ot the condominium or plenned unit developmont.
<br /> � 9.Authority of L�nd�r to P�rfwm for Baraw�►. If Borrower feits to_Verform eny of Borrower's dutieo under this deed of truat, Lender mey '
<br /> " perform the dutieo or cause them to be performed.Lender may sipn 9orrower's namo or pay any amount if necessery for peHormance.If any
<br /> construction on the property Is diecontinued or not carrled on in e roasoneblo menner,Lander may do whataver la necossary to protect Londer's • • '.��`_:''
<br /> sacurity Intereat In the property.Thic may Include complettnp the conatruction. .
<br /> - Londer's failure to pe�form wiil not preclude Lender from exercisfng any of fta other rights under the law or thia deed of trust. '�°
<br /> :�.s...,
<br /> { ' AnV amounts pald by Lender to protact Lender's security interest wlll be secured by this deed of trust.Such emounts will bo dus on demand �-
<br /> end wlil bear Intereet from the date of the payment untit peid in full at the inteteat tate In eftect on the secured debt. .
<br /> ' � � 10. O�twlt �nd Accel�r�tlon. It Borrower falls to make any peymant when due or brealis any covenante undar thla deed of t�uet or any �� �c
<br /> '� obllgation secured by this deed of trust or any prlcr mortpape or deed of trutt, Lender mey.accelerate the maturiry of the sesured debt and ��r�`�"
<br /> � demand Immadia4e payment and may invoke the power of sale end any other remodies permitted by applicable lew. 't�t:•�,
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<br /> � 1 1 t.R�qu�tt for Notic�of D�}wh.It ia hereby requested that copies of the noticea of defeult and sale be sent to oach person who is a party ^. .�"a,�
<br /> --------_� tr!rci�.et Lhs eddigee Qt ea:h su�h gers^rt. a!sAL lorifi nereln. ��o
<br /> : � 72.PowK of&N�.If the Londer invokea the power of sale,the Truetee shell firat record in the office of the repister of deeds of eech county �`°"�
<br /> wherein the trust property or some pert or percel thereof Is situated a notfce of detault contalning the Iniormatlon requfred by law.The Truetae �•�
<br /> ehall also meil coplee of the notiCe of default to the Bortower,to each porBOn who Is e party hereto,and to other peraona as prescribed by
<br /> „ ' applicabte law. Not leas then one month aflor the Truatea tecords the notice ot defautt oe two montha if the trust property la not In any �
<br /> incorporated city or villepe and is ueed in 4arming o�eratlona carried on by the trustor,the frustee shall piva pubilc notico of sele to the persone
<br /> R � and In the manner prescribed by�appptic�bte law.Trustee,without demend on Borrower, ehall eell the properry at pubiia�uotion to the hlgheat �
<br /> �- " bidder. If requlred by the Farm Homestead Protectlon Act,Ti rustee ahall oNer the property�In two separate salea as raqulied by epplicable law. ����
<br /> " � Trustee mey postpone sale of ali or any parcel qi the property by publlc ennouncament et the time and place of eny prevlously scheduted eale. ---
<br /> � Lender or Ite dosignee may purchaea the property at any eato. --
<br />_ Upon receipt of paYment of the price bid,Trustee ehall deliver to the purchaser,Truatse's deed cunveylng the property.The recitiala contained in
<br /> Trustee'e deed nfiall be prima fecie evidienco of the truth of the statements conteinad thereln.T►uatee shalt epply the proceeda ot the eala In the �
<br /> . foliowinp order: (al to all expensea of the eale. Including, but not Ilmited.to, reasoneble Trustee's feas, reasonable attorney'e feea end
<br /> relnst�tement feea;(b)to al1 sums secured by thls tleed of bust,end lcl the balance,if any,to the persona lagally e�titled to recelve tt.
<br />_ • 13.For�elosun.At Lender's option,thla deed of trust mey be foroclosed In the manner prov(do by appiicable lew tor foreciosuro of mortgages �
<br />-� .. on real property. ... , .,,,.,�.��
<br />_ ' nrr��.,,--
<br /> _ 14.Inspwtlon.Lender may enter the O�operty to Inepect it 14 Lender pivea Borrower�otice beforehand. The notico must ateto the reasonable --
<br /> _ cause for Lender's fnspection. �•
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<br /> �;�.t.•, 16.Cond�nxiation.Borrower essiflne to Lender tha proceede of any award or clafm for dema es con�ected with a condemnation or other taking =__—
<br /> _ r ot all or any part of the p►aperry. Such proaeeda wlll be epplied as provlded In Covenant 1.�hia eseignment la subject to the t9rms of eny prlor _
<br /> � security apreement.
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<br /> .� 18.IAhlv�►.By exerclaing any remedy evaileble to Lender, lender doea not give up any riphtb to Iater use any other remedy.By not exercising - _ _____
<br /> _. ' any remedy upon Borrower a default, Lender does not welve any right to later consider the eveht e defeuit if it heppens agal�. = -
<br /> - � 17. Jdnt�nd Sw�nY Uabi�i�y• Co•sipn�n;8ucc�tson�nd Atsipoi Bound. All dutles under this deed of trust are Jolnt end several. Any -
<br /> Borrower who co•siens this deed of trust but does not co•alpn the underlyIng debt Inatrumentln) doea so only to gra�t er+d convoy that �---
<br /> ^ Borrower'e interest in the property to the Truatee under the terme of thle deed of trust.In eddition,euch a Borrowsr egreea thst tho Londer end ��
<br />— _ • any other Borrower under thle deed of truat may axtend,modifY or meke eny other chenges•In the terms of this deed of trust or the secured F� _�.
<br /> ' debt without that Borrower'e consent and without reloesing that Borrower from the terma of this deed of trust.
<br /> ti, ���° s._._�—m.
<br /> The duties and benafite of this daed of Vust ehall bind end benefit the eucceasare and aseigns of Lender and Borrower. �q�?_=-^_..:.
<br /> �.f 18.RoUc�.Unlooa othorwiae required by law,eny notice to Borrower ehall be givon by delivering it or by matiing it by certified mail eddressed to
<br /> � E Borrower at the properry adtlress or eny o4her address that Borrower has gIven to Lender.Borrower wiil givo eny notice to Lender by certlfied . �-, �s:'?"�•�
<br /> � ;+� �' matl to Lender's adtlresa on page 1 of thls doed of trust,or to eny other addreas which Londor hea designatod.Any other notice to Lender shali .: ;�: i=__-
<br /> be eent to Londer's address as stated on pege 1 of th(e deed of trust. t" ;��'�'��
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<br /> Any notice shall be deemed to have boen glvan to Bor►ower or Lender whon given in the manner stated above. .���:..,r��.;�°`-
<br /> 19.Tnntt�r of th�Prop�rty or�B�nMclal IM�r�st in th�Botrow�r.If eIl or any part of the property or any Intaraat in It is soid or trensferred '
<br /> without Londor's pr�or writtan consent,Londer mey demand Immediata paymont of tha socurod dobt. Londor rney also domend Irnmodiato ' '�
<br /> .' payment If the Borrower fe not a natunl pereon and a beneficiat interest in the Borrower is aold or transferrod.However, Lender may not ,
<br /> demand payment in the above situetiona if it Is prohibked by federai lew as of the date of thla deed of truat. �
<br /> ' Z0.R�conv�yenc�. Whon ihe obtlgatian securod by thla doed of truat has boen paid, and Lender has no further obllqatlon to make advancos
<br /> � under the Instrumente or apreemente cecured by this dood of truat, tha Trustoo shoil, upon written request by tl�e Lendor, reconvoy tho truat ' _
<br /> prop3rty.Tho Lendor shell deliver to tho Borrower,or to Borrowor's succassor in interest,tha truat deed end tho noto or other ovidenco of tho
<br /> obllgetfon so satisfiod.Borrower shell pay eny recordation costs.
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<br /> —" 21. succ�ssor 7rusto�. Londer, at Lender's option, may ►emove Trustee and appoint e successor trustee by tust, mafling a copy of the
<br /> ' ,� substitutlon of trustee es required by applicable law,and then,by fil(nQ the substitutlon of trustae for record in tho oflice of the ragister of doeds
<br /> of eech county in which tho Yrust proporty, or somo part thereof, Is situetod. The ouccossor truatoe, without convoyanco of tho proporty,ehell
<br /> aucceed to ull the powor,dutiea, euthority end titlo of the Truateo nomed fn tho doed of truat and of any succeasor trustee, "
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<br /> BANKEf1S SY67EM5.INC..ST.CLOUO.MN 68901 It-80q��97•23/tl FORM OCP�MTO-NE 6119/81 .• •�
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