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<br /> COV[NANTS �7: /O/��� ,
<br /> 1. Psyment�.Borrowor ap►ooe to mako nll poymonte on tho oocurod dobt whnn duo. Unlesa Borrowo► and Londer epreo othe►wlao, eny •
<br /> pnymontn Londor rocolvoa trom Borrowor or for Borrowor's bonotit wlll be epplied first to any amoume Bmrowor owoo an tho eocurod do6t ,-
<br /> oxclusive of interest or princfpal,second to Interast,dnd then to prinr.lpol.If partlal propoymont of tho ooturod dobt occura for ony roAOOn, It wlll � .`
<br /> not roduce or oxcuso nny acheduled payment until the aecured debt Is pald in fuil.
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<br /> 2.CI�Ims Apdn�t Tid�.Borrowet wlll pey all texee,ea�eisments,and other chnrpee ariributablo to the property whon duo and will dofcnd titlo t_
<br /> to tho property apalnst eny claima whlch would Impelr tl�e Ilen of thla deod of truat.Lender may requlre Borrowor to osalpn any riphts,clalme or _
<br /> � defensos which Borrowor mey he4e aqelnat partles who aupply lebor or materlals to improve ar molntam the propony.
<br /> I 3.Insur�nc�.Borrower wiil kaep the property Inaured under torme aaceptabis to Lender et Borrower'e expense end for Lendor's bnnofit. All �-
<br /> insurance poHcies shall Include a stendard mort ape clauae In favor of Lander.lendor wfll be nemed es lase payeo or us tho insured on any uuch
<br /> � or to the secured debt�I}lenderiequ aamo►[pepe Ins�ueence�l Bo�ro eiraA e�ee toimalntelntauchpiaaurance fo►es Ipnfl+ae Londar�oqu�ee roparty _
<br /> ; 4.Properly. Borrower will koop the property in pood conditlon and make ell►opalra reesonably neceseary. ' _
<br /> �. 6.Hxp�ni��.Borrower agrees to pay all Lender'e expenees,Including reeeonable ettorneys'fees,if Borrowo�broaks any covonante in thfs deod
<br /> ot trust or in eny obllgetion secured by thls deed of trust.Borrower will pay theae emounts to Lender ae provided in Covonnnt 9 of thla doed of �
<br /> ifU6L.
<br /> I secur�ity�Interoets1nBonowar�will perform eilfo(tBorrower�snobligatons under eny pr'orr morte ge�deoeof truetroritotheresecuHtytageoomerno�r ,
<br /> including Borrower'e covenants to meke payments when due. � � • .•.;�yL:�.,, �
<br /> 7.Aealgnm�nt of RmU end Proftt�.Borrowar aeaigns to Lender the rents and profits of the property. Unloss Borrower and Lender havo agroed , � _�i-.�'�-�:..,,.�
<br /> otherwise in writing, Borrower may collnct and retaln the rents ea long as Botrowor is not in defeult.If Borrower defeuite, Lnndor,Londor's -
<br /> agont, or n court appofntod receivar may take poaaession and manuge the property end colloct tho rents. Any ronts Lendor collecte shell be :i,'.�3�
<br /> applled firet to the coevte of managin the proparty, Inciudinp court coats end atiorneys' fees, eommisaione to rental agente, and eny other � ��.`;:
<br /> � necesaary reltled expenaes.7he reme�ninp amount of rents wlll then epply to paymente on the secured debt es ptovided in Covenant 1. -�i+�,
<br /> 8.L��s�hotdr Condomtniumr.PlRnrwd Unit Dw�lopm�nb.Bonower agroes to comply wiih the provislons of eny lease If thls deed of truat le on
<br /> � � under the�cow Qints by lewa or reguletions�of the condominium or plafnn d nit developmentnt, Borrower wlil perform all of Oorrower's dutlee ` __
<br /> - � 9.Authortty of L�ndar to P�rtorm tar Borrow��. If Borrower fails to perform any of Borrower's dutiea undet thia deed of trust, Lender mey �- � ���
<br /> : perform the duNea or cause them to be performed.Lender mey sign Borrower's namo or pay any nmount if necessary(or performencu. I}eny
<br /> � constructlon on tha property Is dlscontinued ar not carried on In a reasonable manner,Lender moy do whatever Is necossary to protect Lender's �:,�,�.-
<br /> � security interoet!n the property.Thle may Inctude cumpleting the canstruction. ,::yti��y _
<br /> 9 .`• Lender's failwe to pertorm will not preclude Lendor from vxerci�inp eny of Its other righto undor tho law or thia deed of trust.
<br /> " #?- Any amounte paid by Lender to protect Lender'o security interest�vill be secured by this deed of truet.Such amounte wiil bo due on demand -,^, ���'.
<br /> �` and will bear Inte�est from the dete of the paymnnt until paid in full at the intorest raYe In effect on tha socured dabt.
<br /> �!i''�� 10. D�fault md Aecal�r�tion. If Borrower falls to make any payment when due or breake any covonants under thia daed of trust or any '�'-�,��"r' ;
<br /> yF demeand Immedlate peyment and mny i�voke the p we ot saee a�d a y o her remedfesdpermitted by applicable lewurity of the sacured debt and '"�• „,
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<br /> � 'F • i 1.R�qwst fa Nodc�of D�f�ult.It Is hereby requested thet copies of the notices ot default and sale be aent to eaCh person who is a party � ��,
<br /> °°--- i�areto, at ciie ad��naa�f nai.i�6ucr potb"vz,so SaL lcsih l:esC!". _ ! _
<br /> . . 1�, 12. Pow�r of 6a1�,If the Lender Invokes the power of sale,the Trustee ehall first recard In tho oftice of the replater of deeds of each county i
<br /> wherein the Vust property or eome part or parcel thereof is situated a notice of default contefning the informetion requirad 6y lew.Tho Trustee
<br /> i shall also me�coples oi the notice uf default to the Borrower, to each peraon who Is a party horeto,end to other porsons as prescribed by . .�"
<br /> epplicable law. Not lese than one month after the Trustee records the notice of dafauit or two months If the trust property ls not In any `+;
<br /> iacorporated dty ar viilage end le used In fa�mlog operatlons carrlod on by the trustor,the �rustee shall give public notice of sale to the pereona ��
<br /> and in tho menner preacribed by�apppllcable law. Truatee, without demand on Borrower, shell sell the property at public auctlon to the higheet
<br /> bidder. If tequired by the Farm Homeatoad Proteotion Act,Trustee shan ofter the proportV In two seperate ealqs es required by appiicebte law. ^
<br /> Truatee mey postpone eale of ell or any parcel of the property by public announcement at the time and placo of any previously scheduled eale. Y
<br /> Londer or ite designee mey purchace the properry at eny sale. �••
<br /> Upon receip t of payment of the price bid,Trustee ehall detiver to the purcheser Trustee's�eed canveylng the property.The recitiale contained in
<br /> Trustee'�deed shali be prime facie evidlence of tho truth of the etatements contained theraln.Truetee sfiell apply the proceerls of the sele in the
<br /> el st�atemontfees��lb)to�all sume uecu ed by this�dead of�truatuand(c)thet belance,If eny t�o he pereona egelly entitled to receiva jt,�eeo and
<br /> - 13.Fonclosun. At Lendar'e optian,this dned of trust may be foreclosod in the manner provide by epplicable law for forecloaure of mortgapes "�_ �'
<br />��;; ;,", . on reel properly. -
<br />_�° � 14. Inspsctlon. Lender may onter the properry to Inapoct ft if Lender pives Borrower notice bqforehand. The notice muat atate the reasonabie �,,__
<br /> .....�� . •� cause tor Lendar e Inspection. � �-
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<br />- �.,;� 16.Cond�rtvw8on.Borrower assigns to Lender the proceeds of any awud or claim for dameq as con�octod with a condemnatlon or other taking ;;,_,.
<br /> ' ot all ot any part of the property.Such proceeda will be applied as provided In Covenent 1.7his aseignment fe BubJect to the terma of eny prior �},:.-.,
<br /> - • aecuri.ry egroemant. W' ...
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<br /> '� � 18.W�Iv�r.By exercisinp any romodV avallable to Lender, Lender doea not give up eny rights to later use any othar romody. By not oxorcising �"r"""��_��
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<br /> �,.� ., - eny remedy upo�Borrower's defeult,Lendor doea not wafve any dght to later conaidor the event e defeuit if it happens egein. E.;,�-=-�
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<br /> 17. Jo1M �M Swa�l LI�biHty• Co-siynws; Succ�uaa and Aulyns Bound. All duties unde�this deed of trust are jolnt and several. Any ,��'-�°
<br /> �. .,.��� • Borrawer who ca•aipna thls deed of truat but doea not co•stpn the undorlyinp debt insuument(s)doas so only to grent and convey that ,•_w
<br /> � � Borrower's Interost in the property to the Truatee under the torma of tNS deetl of trust,In edditlon,such e Borrower eprees that the Lender end '=�; �._.,.--.-
<br /> ' any other Borrower undor thia deed of trust may extend, modi�r or meke any other changes in the terms of thie deed of trust or the cecured _ --
<br /> t���� debt withoutthat Borrower'e coneent and without raleesing that Borrower from jhe terms of this doed of trust. ;f`�
<br /> ' 1�"�t' The dutles and benefits of thi�deed of trus4 shall bind and henefit the succoesors and eastgns of Lander end Borrower. '=—�----°�--�-°�
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<br /> 1 18.NoUc�.Unlese otherwiso requlred by taw,any notice to Borrower shall be gWen by dolivertng It o�by maliing It by certified mefl addressed to ��_ �,,,,,,��-�.�,--
<br /> Borrowar at the property eddress or eny other addresa that Borrower hea given to Lende►.Borrower will give eny notice to Lender by cenfiied .•,;;;���;�•,.
<br /> mall to Lender's addree�on paye 1 of this deed of trust,or to any other eddreas whfch Lender has dealpnated.Any otAer notice to Londer shoii ::-•��ru„��,•.�
<br /> *: be sent to Lender's addresa as stated on page 1 of thls deed ot trust. y��'��������
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<br /> Any notice shali be deemed to have been given to Dorrowor or Lender when glvan in the manner steted above. ,'� �.�:�,�r���!y���;+:;���
<br /> "I�LrnYi.��Mi� �.
<br /> 19.Tran�f�r ot th�Property or�B�n�flclN Int�re�t in th�Barow�r. It ell or any part of tho property or any Interest In it la sold or trensi3rred • ,:,��.,,::.�
<br /> wlthout Lender's prior written consent, Lender may demand immedlate payment of the secured dobt. Londor may elso demand Immedlate
<br /> ' payment if the Borrower is not e natural person and a benoficiel interost In the Borrower is sold or transferred. However, Lender may not ;...,:' -
<br /> � demend payment in the ebove eituations ff it is prohibited by federal law es of the date of this deed of irust. �
<br /> � ' 20. R�con��Y�na.When the obllgation secured by this deed of truat hao been pafd,and Lo�'der hae no further obligation to make advancos
<br /> under the inavumants or egreements aecured by thfa deed of trust, the Trustee shall,upan writte� roquost by tho Londor, reconvoy the trust
<br /> � � property.Tho Londor ehell dalivor to tho Borrowor,or to Borrcwer's euccosaor in intorost,tho trust deed end the note or other evidence of the
<br /> . " '� obligetion so eatiefiod.Borrower shall pay eny rocordatlon coets.
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<br /> 21. Succss�or Trustu. Lendar, et Londer's option, ma� romovo Trusteo end oppoint a eucceasor trustoo by flret, maiu�g���y pr me ° --- ----�
<br /> _ � aubstitution of trustao as roqulrod by applicablo Inw,end t ion,by(ili�g tho eubstitutlon of tmatee for rewrd In tho offico of tho rogis or oY dooda
<br /> of ea�h counry in which the truat ptoporty,or somo part thoroof,la situatod.Tho succossor truatoa,without convoyanco ot the proporty,shall
<br /> succeed to dl tho powor,dutles,authority and title of tho Trustoo numed fn tho dead of truat and of any succossor truetoe.
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<br /> iaage?0171
<br /> - BANKERSSVSiEA13.WC..ST.CLOUO.MN 68301 tl•D00•387•19N1 fORM OCP�MTO�HE B�IB/Bt __
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