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<br /> COVENANTB 9?,••, 1��.F��9
<br /> 1. P�ymmt�. Borrowor apraos to make nll peymante on tho socurod dobt whon Auo.Unlaee Qarrowor nnd Londor oproo othorwloo, any '
<br /> paymonta l.ondor rocclvoa from Elorrowor or for Darrowor'o bonofit wlll b� nppll�d Ilrat to nny omounto Dorrowor owoe on tlio socurod Anbt
<br /> oxcluelvo af Intorest or princlpel,tenond to Intereet,end tl�en to principel.If pnrtlel prepaymer�t of tho eocurod dobt occure lor any reason, It wlll -
<br /> not reduco or oxcuseeny 4chodulod peymont untll tho socurod dabt In pald In full. ,
<br /> I 2. CIMm�AyNmt'�Itl�, Bor►p v�r•wlll pay�Il t!xe�i,; � aeemente, end other cherpne ntQnbutoblo tu Iho pruperty whan duo ond wlll datond tltlo "
<br /> to tho proper9y epointt Ilny olelme vyhlqh would Irppe�r e Ilen of thle deed o}truet. Lender mey roqulre Uarrower to aeslpn any rlphte,ctelm�or
<br /> defemef whlch Bo awf�may�h��b 1pUl�ot qi►tlei w�l� oupply labor or meterlel�to Irep►ove or mnlnteln tho proporty
<br /> � 3. In�urena�. Borr��wlN keep the propsrty Insw�d under torma eccepteblo to Lnnder et Borrower'e expeneo end for Lendor'� boneflt.All �
<br /> ' Ineurence pollclee shell Include a stenda►d mortgepe cleusa In favor of Lendar,Londar will bo v�em�d eo lose pnyoo or as tho Insurod on any such .
<br /> Inaurence polloy.Any Insurence proceede mey be applled,wfthtn Lender'e diecret�on,to e��har the rantoreuon or repelr ot tho damcpod property
<br /> � or to the eecured de6L(f Lender requlres mortpepe Inaurence,9orrower egreee to malntnln�uch Insurance for es lonp ee Lender roqulree. I _
<br /> � 4.Prop�rty.Borrower wfll koep the proporty In pood condltfon and make all repalrs raesonebly neceasary.
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<br /> � 6.Expym�s.Borrower agrees to pey all Lender's expanses Including roesonable attorneye'feee, If Borrower bresks any covenanta In thls deed
<br /> of truat or In any oblipation secured by thls deed of trust.�orrower wlll pay thes� amounte to Lender as provlded In Covenent 9 of thle deed oi
<br /> I trust.
<br /> , � ti. Fdor Socurbty Interosts.Unlosa Borrower flrot obtelna Lender's wrltten consent, Borrower will not meko or pormlt any chenpea to any prlor
<br /> aecurlty Intereats. Barower wlll perform all ot Borrower's obllgatlons under any prlor mortpepo, deed of trust or other secunty agreement, n-
<br /> Inaluding Borrower's covennnts to make payments when due. _'�;"�"�-=�'
<br /> I7.Atdpnmmt o!Renta and Proftti.Borrower asslgna to Lender the rents and praflte of the property.Unless Bo►rower and Lendor have agreed �==v_-_ `
<br /> 1 othorwlae In wrlting,Borrower mey colloct and retaln the rente ns long as Borrower is not In default. If Borrowor defaults, Lender, Lender's -,c_
<br /> � apent, or a court appointed recefver may take possesslon and manage the prope►ty n�d colloct the rents. Any rents Lander collocta ahnll be ;
<br /> appllod first to tha costs of inenaglng the property, Includln court costs and attorneys'fees, commisalons to rentel apente,and any other :;_,_
<br /> I necessary refated expensea.The remelning amount of rents wRl then apply to pnyments on tho securod debt as provldod In Covenent 1. !'---_
<br /> j8.L��s�holds•Condominlumr Pl�nn�d Unit DavMopm�nU.Borrowor agrees to comply wlth the provislons o}any Iease if thls deed of truat Ie on
<br /> a Ieeaohold.If thts deed o(trust Is on a unit In a condominfum or a plannod unit dovolopmont, Borrower wlll pe►torm oll of Aormwer's dutlas _____ _
<br /> . under the covenente,by-lewe,ar regulatlons of the condomfnium or planned unit development. -
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<br /> 9. Authorftyr of Lsndv to P�rform for Borrowu. If Borrower falls to perform any of 6arrower's dutles under this deed of truat, Lender mey
<br /> „ parform the dutles a causo them to be performad.Lender may slgn 8orrower's name or pay any amount if necessary far performance. If any , __
<br /> conatructlon on the Vroperty Is dlacontlnued or not carrled on in a roasona6le manner,Lendor may do whatever is necessary to protect Londer's
<br /> ' .i securlty Interest In the property.Thls mey Inalude completing the constructlon. �'���'.�
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<br /> Lender's failure to perform wlll not preclude Lender from exerclaiog any of Its other dghts under the law or thie deed of truat. . _ _
<br /> Any emounts pald by Lender to protect Londer's securlty Interest wlll be secured by thle deed of trust.Such amounts will be due on demand ��.::�;
<br /> � end wlll bear Intereet from the date of the payment untit peld In full at the Interest rata In eH�ct on the aecured dobt. . -
<br /> �� 10. D�hult end Aced�ndon. If Borrower falla 4o make any payment when due or breaks any covnnents under this deed of trust or any :'�: ''°�
<br /> obllgatlon secured by thte doed of trust or any prlor mortgage or deed of trust, Lender may eccelerato the maturiry of the secured debt and
<br /> demend Immedlate payment and may Invoke the power of sale and any other remedles permitted by appllcabte law. . ��-
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<br /> . ___ 11.Rsqusit for Notlee of Clstault.It Is hereby requested that coples of the noticee of default and sale 6e sent to oach peraon who le a party � -u"��� � � _
<br />- - heroto,at the auoraea oi each such pereon,as sat fiorth hernin. --
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<br /> � 12.Pow�►of S�I�.If the Lender Invokes the powur af selo, the Truatee shall first record In the offlce of the ragister of deeds of each county ?��`;:.o.,:
<br /> wheraln the trust prapo►ry or some part or parcel thereof Is sltueted e notice of default contalnlng the Informetion requlred by law. The Trustee '• �'p+,;
<br /> ehell also mail coplea of the notice of detault to the Borrower,to eech person who Is a party hereto, and to other persons as prescrlbed by � �� ,
<br /> appllcable law.Not less then one month after the Truatee records the notice ot default, or two months If tho trust property Is not In any
<br /> Incorporeted clry or vlllage and la usod In farming operatlons cerrled on by the trustor,the Truatee ehall glve publlo notice of eale to the persons M'� � i �. �
<br /> and In the manner qeacrlbed by epppllaable law. 7ruetee,wlthout demend on Bortower,�hall aell the property et publfo euation to the hlgheat �_ •'�u�
<br /> bidder.If requlred by the Farm Homeatead Protectlon Act,Truatea shell offer the property in two separate ealos as requlred by eppllcabla law. •,
<br /> � 7ruetee may poatpane sale of ell or any parcol ot the property by publlo announcement et the tlme end place ot eny prevlously acheduled sale.
<br /> y+ Lander or Ite deslgnee may purchese the property et eny eule. � �- .
<br /> ' • � Upon recetpt ot payment o}the price bld,T�uetee shal!dellver to the purcheeer•Truatee'e deed convoylng the praperty.The recltlals contelned In �
<br /> ' $ Tru�tee's died thall be prlme facle evidlencs of the truth of the statements contelned theretn.Trustee shall apply tho proceeds of the sate In the
<br /> . j, followlnp order. (el to dl expensas ot the sele, Ineludlnp, but not Ilmited to, reesoneble•Trustoe's fees, reasonable attorney'e feee end ----
<br /> ° raln¢tatement fees;Ih)to ell sumo cscured by thls deed of tiust,and Ic)the balancerlf eny,Yo the persans Iegally entltled to recelve It, -
<br /> 1 13.Fonelotun.At Londer'e optlon,thle deed ot truet mey be foreclosed In the mennei�provlde by eppllceble lew for foreclosure of mortgegee ���'
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<br /> �an real property. . �
<br /> J� 14.In�p�aUon.Lender mey enter the property to Inspeot it if Lender glvee 8orrower notice beforehend.The notice mutt stete the reasonable �—�-"��
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<br /> „ - i�' aeuas tor Lsnder's In�pectfon. �_
<br /> 1 B.Cond�rtu��don.8orrower oaelgne to Lender the proceeds of eny ewerd or cleim for dama�ea.cannected with a condemnation or other taking ,�;��
<br /> _ of eIl or eny part of the property.Such proceeds wlll be epptled es provlded In Covenant 1. TNa esslgnment Ia subJeot to the terms of any prlor --—
<br /> socurlty egreement. --
<br /> .� 18.W�Iwr.By exerclsing any remedV evallable to Lender, Lender doea not glve up any dghts to later use nny othor romody. By not exorclsing ,;;����
<br /> eny remedy upon Barower'o default,lendor does not walve eny right to leter conslder the event'a deteult ff it happena apaln.
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<br /> ��r ;: 17. Jdnt �nd S�wnl LI�Wtiri• Co-slpn�n; 3uccason and Asslpm Bound. AII dutioe u�dar thle deed of trust are Jolnt end several. Any = ,�-_
<br /> •�b Borrower who co•alpns thls deed of trust but doeo not co•slgn the underlyIn9 debt Inat�umentld) doea co only to grant and convey that ___
<br /> _ ,� Borrower'e Interest In the property to the Truatoe under the terms of thle deed of tro8t. In eddKlon,suoh a Borrower agreea thet the Lender and �-� _,,,�„_
<br /> eny other Borrower under thls deed of truat may extend,modliv or make any other chengea In thA terms of thls deed of trust or the securod ,
<br /> � debt wlthout thet Borrower's consont and wlthout releesing thet�orrower from the terme of thls deod of trust. .��•
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<br /> • The dutles end banetftb of thle deed of truat shall bind end benefit tho succassora and esslgns o4 Londor and Borrower. � �t�•.`:':=_,;�Y:� •
<br /> ' 18.NoUc�.Unlesa othenvlse roqulrod by lew,eny notice to Borrower shall be glven by deivering It or by mafling It by cortlfled mall addroased to ��`•r'"�'"a..��-
<br /> Borrower at the prope►ty addreas or any other addreas thet Borrower hes given to Lender. Borrower wlll glve any notice to Lender by certlfied � �''"'" -
<br /> mall to Le�der's address on page 1 ot thla deed of trust,or to any other address which LerVder has deslgnntod.Any othor notfco to Londer shall .. � •-•
<br /> • . be sent to Lendar'e�ddress es etated on page 1 of thls deod of trust. '
<br /> „ Any notice shell be deomed to havo boen glven to Bo►rower or Lendor when QI4on In the'munnor atated above.
<br /> � 18.Tnnsfer of th�Prop�rty or�B�n�flcld tnt�r��t In th�Bortow�r.If all or uny pert of tho property or ony Intoroat in It Is sold ar trnnsfarrod �
<br /> wlthout Lender's prlor wrltton consent, Lender mey demand Immedlate payme�t of the secured debt. Lendor may also domand Immodleto ,� '
<br /> demendtp�eymentBlnt e ab�ove sltuatlonsr f ii/e p ohlbted by f doral law as of'thti deto ofthls deedlof trust nsferred. However, Londer may not
<br /> 20.Raconvsyance.Whon tho obllgatlon secuted by thls doed of trust has boen pald, dqd L'ender has nu furthar obllpatlon to make edvancos
<br /> under tho Instrumonts ar egteomenta secured by thls deed ot trust,the Trustee•shell, u�oNWritten�equest by tho Landor, raconvay the trust .
<br /> ' proparty. The Lendaz shell dellver to the Borrower,or to Borrowor's auccessor In Interoat the trust deed end the noto ar othor ovidenco of tho
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<br /> obllgatlon so eatlsfled. Borrower ehell pay ony recordatlon coste. ' '�'
<br /> 21. Succ�tsor Tru►t��. Lendor, ot Londor's optlon, may remove Trurstoe end appoint n succeasor trustee by flrat, meiting a copy of tho �
<br />- substltutlon of truateo as roqulrod by appllcable lew,and then,by fillng the substitutlon oltrustoe for record In the offlco of tho rogistor of doods
<br /> of each county fn which tho trust proporty,or somo pan thoreot, is situated.The succeasor trusteo, wlthout convoyance of tho property,shall
<br /> succeod to all the power,dutlea,authority and tltlo of the Truatoe nomed in the dead of trust and of nny succossor trustoo. .
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<br /> . lpege 10/21 �
<br />- DANKEHS SYSiEMS,tNC..ST.CIOUD,MN G6301(1�80U•397-23411 FOH61 OCP•MT6-NE BA9/91 .
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