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<br /> • CQVENANTB �7 I� 10�j��
<br /> pnym�ente Land rrroco/voaflfrom Bor owor or foi 0orrowor'e bonofit widll bebappl ed fldret to nnY a nou te flo�owor�odwoe on iho��socured nebi :
<br /> oxclusiva of intereat or principel,second to Intorest,ond thnn to prindpol.If pnrtinl prapnymont ol tho nncurod dobt occure for nnV ro�eon.R w.tl `'
<br /> 1 not roduce ar excuae[+ny echetluled peymont untll the aocurod debt Is pald In}ull. _
<br /> 1 2.Clalms ApMnst Titl�•Borrower will poy all Yexes,ndse9&ments,and uthor charpos ettributeble to the propartV whon duo nnd wlll dofnnA tftlo �
<br /> to the property a�gelnst any clalms which would�mpalr the Ilen of this doed of truet.Lende►mey requlrn Borrower to eeelOn ony riphte,clelme or fi
<br /> dufenses whlch 8orrower may heve apefnst pert ea who suppiy labor or meterlals to improve or malnteln tho property. .
<br /> 3.Insunnc�.Bo►rower will keep the praperty insured under terme ecceptable to Lender et Borrower's expense nnd for Lender's bonefit. All ,
<br /> ineuranco policloe shail include a standard mort age clou8e In favor of Lender.Lender will be named oa losa peyee or ee the Insured on eny such
<br /> I or to the secured debt�If Lenderiequres�motL�age P s'u en elt Borrowerrag eles toimeintatnteuchhneurencetfor as lon9ias LondorDroqulro p�oporty
<br /> � 4.Prop�rty.Borrower will keep the proporty in good condition and make all repaire reasonably necessary.
<br /> 6,Facp�nses.Borrower agroes to pay ell Lendor's expenses,including reasonebin attorneys'feea,if Borrawer breaks any covenente in thla dood
<br /> of trust or in any obligation secured by this deed of trust.Borrower wlll pay these amounts to Lender ea ptovided in Covenant 9 of this dood of
<br /> trust. .
<br /> 8.Prior Security Int�n�t�. Unleas Borrower first obtains Lender's written consent, Elonower will not meka or permit any chanpes to any prior
<br /> � security Interests. Borrower will pertorm all of Borrower's obiiflations u��dar any prior mortfla0e, deed of trust or other security agreemont
<br /> � includin8 8orrower's covenants to meke payments when due. _
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<br /> 7.Astlpnm�nt of N�nU and Proflts.Borrower assigns to Lender tho rents and profits of the property.Unless Borrower and Lender have agreod _
<br /> i otherwise In writing, Borrowar may collect and rotain the rents as iong as Borrowor is not in dofault. If Borrower detaults, Lender, Landor's
<br /> agent, or a court eppointed receiver may teke posaeasion and manage the property and collect the rents•Any rents Lender collects ehalt be :.�i.
<br /> applied f(rat to the costs of mnnaging the property, including court col t to�a mente onithe aecured debt as provided ineCovenen d'any other :�vna.,�c;;:�_
<br /> necessery related expenses.The remaining emount of renta will then app y P Y : • • .•-
<br /> 8.Lns�hddr Condominlums;Plsnn�d Unit DwNopm�nU.Borrower aprees to comply with the provlsions of eny lease If this deed of truet ie on �:1-��,�.v:
<br /> a loasahold.I�thle deed of truat is on a unit in a condominium or a plenned unit develapment,Borrowar wlll porform all of Borrower's duties : , .
<br /> `l under tho covenonts,bylaws,or re8uletiona of the condominfum or planned unit devolopment. ^� =-;_�--�
<br /> � 9.AuthoAty of L�nd�r to P�rform for Borrow�r. If B�nde1r ma 8isf ��8orrower s�nem Borrrp Ay a y emount if ecessary forperiormance�lf any ,•...�� �� ��:�y':-
<br /> � f a or cause them to be performed.Le Y B �,'' �t'
<br /> I perform the dut e ."� + � 't•''���'�
<br /> conctruction on the property ia discontinued or not carried on in e reasonablo manner,Lender may do whatever le neceasery to protect Lender's ;.�;�.. , � � i;;....
<br /> socurity interest in the property.Thls mey inctude completing the conetruction. � S`��
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<br /> , Lender's tailure to perform will not preclude Lendsr from exercising any of Ite other rights under the law or this deed of trust ,•''! �r'�"�,F.,;
<br /> .• 'I Any amounte peld by Lender to protecc Lender'e security interost will be secured by thfa deed of trust. Such amounta will be due on demand ,�' �:--
<br /> and will baar Interest from the date of the payment untii paid in fuli at the interest rate In oHect on the secured debt.
<br /> � 10. O�hwit�nd Accslsntlon.It Borrower feils to make any peyment when due or breaks any covenante under this deod oi truat or eny �it ,
<br /> obligatlon secured by thia deed of truat or any prlor mortgage or deed of truat,Lender mey accelerate the maturity of the oecured debt and ,
<br /> demand immediate payment and may Invoke the power of sale and any othar remedies permitted by applicebla law. ,� _.�
<br /> " 11. Requ��t tor Notic�of D�fauk.It la hereby requested thet coplas of the notices of detault and sale bo sent to oach pereon who is a party ':�'�:�j; , ,
<br /> _ � -�� - � -= no�oiv�bi 2i�o S�L�tooS Ct CSCh�ilII�I�.'Ct°-`SR.ee ca*fnrth hereir�. '.;-'��:;, � .:� •�
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<br /> 12. Pow�r of S�lo. If the Londer invokes the power of sele, the Trustee shatt first record In the office ot the re{Iinter of deeda of each county
<br /> � wherein the trust property or aome pert or parcel thereof is situated e notice of default containingereto�and toi otheQperaonn�eap escribedtby ����,'%' i , ,
<br /> � i ahall elso mail copies of the notice of dafault to the Borrower,to each person who is a party h . , • �
<br /> applicable law. Not less than one month after the Trustee recorda the notice of defauit or two months If the truat property ls not In eny ,a �r;�:
<br /> Incorporated ci ty or villa pe and is used in ferming o�eratlons carried on by tha truato►,the fruatee ehell gfve publat nublic euctton to hePhfeheet ,
<br /> and In the man�er prescrtbed by�appplicable law.7 rustee,without demand on Borrower,ahall sell the property P ,�
<br /> 6ldder.If required by the Farm Homeetead Protection Act,Trustee shall oNer the property In two separete eelee ea required by epplicable lew.
<br /> Trustee may pastpone eele of ell or eny parcal of the property by publlc announcoment nt the time and plece of eny prevlousty scheduled sele.
<br /> • Lender or ite deelpnee may purchase the praperty et any eele. � •
<br /> � U on recelpt uf aYment of the price bid,Trustee ahall delivot to the purchasor Trustee's doed conveying the property.The recitiets conteined In �
<br /> Truatee's deed ehalt be prima fecfe evldience of the truth of the stetemonts contelned thereln.Truatee ehall epplY the proceed�of tho seie in the
<br /> F foltowing orde►: (e) to ell expensen of the nele, Includinp, but not Ifmtted to, reasonibte 7ru�tee'• fees, re�sonabte ettorney'e fees end E
<br /> �� rolnstatement feea;(b)to ell suma eecured by thie deed of truet,end lc)the balanco,If any,to the pereons leyelly entitied to reeelve it.
<br /> 18.fa�clo�un.At Lender'�option,thfs deed of uuat may bo foreclosed in tha manner provide by appllcable Isw for foreclosure ot mort�apes ,�
<br /> �.. on reel�ropertY. --- — `J.
<br /> w 14. In�p�otlon Lsnder mey enter the property to Inspect It if Lender qivee Borrower notica befotohand.The notice muat�tate the ►s�ionabie �;._�
<br /> � ceuse for Lender's inepectfon.
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<br /> 16.Cond��tion•Borrower essipn�a to Londar the proCeeds of any award or clelm for demo-{�es connected with e condemnatlon or other tsklnfl e._ _
<br /> of ell or any part ot the property.5uch proceode wlll be appQed sa provided In Covenant 1,Th�e easignment fs subJect to the terma of eny prbr �
<br /> �: �ecurtty agreeme�t � __
<br /> 18.W�iv�r.By exercieing eny remedy available to Lendor,Lendor dooa not pive up eny rights to later uae any othor remady. By not oxorciefnp
<br /> ,�! eny remody upon Borrower's dofault,Lander does not walve any right to later consider the event a defauit ff It happen�epeln. '����K'
<br /> � 17, Jolnt �nd Sw�r�l U�biNty Co-�ipn�n; Succ�sson �r►d A�slyni Bound. All dutiea undar thla deed ot truet ere Joint end severtl. Any �;.'_�
<br />'' � Borrower who co-signs thie dead of Vust but doea not co•sipn the underlyIng debt inatrument(e) doea so oniy to grant end convey that __.__
<br /> � 8orrower'e Interest in the property to the Truatee under the terms of this dead of truat. In addition,such a Borrower aprees t7►at the Lender end
<br /> any othor Borrower under thit deed of truat mey eMend,modliv or maka any other chanpes In the term�of this deed of truet or the secured --.�
<br /> . , debt without that Borrower's conaent cnd wfthout releasinp that Aorrower from the terms of this deed of nust. .��
<br /> �� The dutiea end benefits of this deed of truet sheil bind and benefit the aucceasors and esaipns of Lender and Borrower. - df�'
<br /> cs.Uniess otherwise requlred by law,any notice to Borrower shali be given by delivering It or by mailing It by cenified mefl addressed to '��•,��.;n�'ehti.":
<br /> 18.Not! en notice to Londer by certifled .:��y����
<br /> Borrower at the prop9rty e d dress or eny o t her e d d r e s e t h a t B o r r o w e r h a sg i v o n t o L e n d e r. B o r r o w e r w i l l g l v e y .,�'ry t',,�.
<br /> � mefl to Lender't nddreee on paye 1 of tfiis deed of trust,or to eny other a ddress which Lendar has Coeieneted.Any othsr notice to Len dor a he i l .
<br /> - bo sent to Lendor'a eddress ea stat�d on pago 1 oi thla deed of trust. , : ,.
<br /> Any notice ehall tse doemed to have been given to Borrower or Lender when piven in the mnnner stated ebove.
<br /> 19.Tnnst�r of tM Prop�rty w o B�n�flciv Int�t�tt tn tho Borrowe.If ell or eny part of the property or any interest in it is sold or trensferred
<br /> without Lender's prlor written consent, Lender may domond Immodiete paymont of the secured debt. Lendor rr�ay etso demand Immedlate
<br /> " demendtpaymenB/n the cbove aituetionsr f ip la p ohib ed by tedorai law as of the deterof this dead�of trusLnsterred. However, Lender may not ,
<br /> 2Q.R�conv�yanc�.When the obllgation socured by this doed ofi trust has been pald, and Lender has no turther obiipatlon to make edvances
<br /> under tho Instrumente or agreemente securod by this doad of trust,the Trustoe shall, upon written roquost by the Lender, reconvey tho irust
<br /> property.The Lender ehall deliver to tho Borrower,or to Borrower's successor in interost,the trust deod and the note or other evfdence of tho
<br /> ob�ipetion ao sotfafied.Borrower ehall puy any recordation coate.
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<br /> 21. &uct�sam Trustte. Lender, at Lendar's option, may romovo Trustoo ona oppomt a aucavas�rr �.�o.�... - --
<br /> substitution of ttustoe ns roqufrod by epplicabie law,end then,by filin tho aubstitution ot truateb for rocord tn tho oHice of the regfster of doeds
<br /> �� succe d ta ait the power tdutiessauthorit�y and titlo oft e Trust e na�d��eir,a daed otie st e d of enyisuccessorVtrustoe.of tho proporty,shell
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<br /> " BANKERS SYSTEMS.INC..ST.CLOUD.MN 68301 fl�800397�$$411 FORM OCP-MTGNE 8/1997 �
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