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<br /> ! COVENANTS �'� �01��
<br /> � 1. Psymu+to. �orrowor aproos to mako oll paymonta �n tho oocurnd dobt whan duo. Unluse Borrowor and Landor epreo othorwse, eny ;_
<br /> pnymontu Londor rocolvoo Irom Dorrowot or �or Oorrow��'o bonofl; wiii bo appliod flret to any amounts Borrowor qwoe on the eecurod dobt 4;�
<br /> oxcluslve o}Intorebt or p►Inclpal.eecand tn Interest, and thon to princlpal.If pertfel prepayment ot tho socurod dobt occurn for any ronoon, It will ,�
<br /> � not reduce or oxcuse eny echoduled paymsnt untll the�or.ured dobt le potd In tuil. *;
<br /> 2.Cl�lm�Apaln�t Titl�. Borrower wlll p�y elFt�xe�, itur�m6nt�, qnd other ch�rpe�attrlbutehle 4o the property wfion due and wlll dbiond tltto =
<br /> to the property epe lne t ony c l e l m e w h i c h w o u l A I m p�ir the Ilen of thi�daad of tru�t.Lender mey requlre Barrower to eeelgn eny righte,cla�me or w'`
<br /> defenaet whlah 8orrower mey have apelnst pa►tl��who auppiy I�hor or m�terlel�to Impruvo or melnteln the property. ,
<br /> 3.Insur�nca. Borrower will keep the proptlrty Intured under terme accepteble to Lender et Borrawer's expen�e 6nd tor Lender'a benefit.All
<br /> � � ineuranca policloe nhell Include e�tend�rd mortg�ge clauae In fevor of Londer.Lendor will be nemed aa lobe peyee or ee the Ineured on eny auch ._"
<br /> 1 Iniurance pollCy.Any Insunnce proceedi m�y be spplied,w�thin Lender'o di�cretion,to eiYh�r tho ro�toratlon or ropotr of tho dnmaqed property
<br /> or to the�ecured debt.If LenAer requlre�mortpape Intunnee,Borrower apree�to melnteln auch fnsurence for os lonp ee Lender requlree.
<br /> ' 4.Prop�rty.Eiorrower wlfl keep 4he property In pood cortdltion end meke ell repalro roasonebly neceseary. e_
<br /> � 6.Exp�m�s.Borrowor agree�to pey ell Lender'a expenaee Includinp reeuoneble ettorneyo'feea, If Borrower breaks any covenants in this dood _
<br /> ' of trust or In eny obllpatlon eecured by thla deed of truat.dorrowor will pay theee emounts to Lender ee provlded In Covenent 9 of thl6 deod of �.
<br /> � trust.
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<br /> I 8.Prior&�carlty Int�nsta.Unloae 9arrower firet obtaine Lendor's written consent,Borrower will not make or permit ony chenges to any prior ••�..��,_
<br /> i cecurity Intareste. Borrower wili perform ali of Borrower's obli8etlons under any prlor mortpage, deod of trust or olher sewrity aproomont, - �,p....._.--�
<br /> ' including Borrower'o covonents to meke peyments when duo. _ —_-,___
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<br /> 7.A�sipnm�nt of R�nt�and Protlts. Borrower easfpna to lender tho rents end profits of the property.Unless Borrower end Londor have agreed _
<br /> otherw rse In wr lt ing, Borrower ma y coilect and retaln the rents as long as Borrower la not In default. If Bonower defaults,Lender,Lender's
<br /> agent, or a court appolnted roceiver may take possossion angd manege the property and colloct the rente.Any rents Lendor co l lecte s ha l l ba
<br /> necelnseryrelat d e pensea.f The remaQn ng amount of rentsdwill th�n epply to peymonts on,tho soc ru ed Jebt as provided meCovenant�eny other —
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<br /> 8.L��:�hotd�•Condomin{um+:PIMMd Udt D���lopm�ntr.Borrower apreee to comply with the provialona of any leaae If this deed of trust le on . _
<br /> � underthe�co enantn,by-I ws,uor reguletiona of thec ondom ntlum or pianned unk developmentnt, Borrower wiil perform all of Bor►ower's dutles . _
<br /> � 9.Authorfty of L�nder to P�rform tot Borrow�t. If Borrower feite to pertorm any of Borrowar's dutlea under thla deed of trust, Lender mey
<br /> perform the duties or cause them to be per(ormed. Lender may slgn Borrower's neme or pay eny amount If necessary for pertormence. If any � r_�
<br /> constructlon on the praperty is discontinued or not cerrlad on tn e reasonable menner,Lendar mey do whatever is necoasary to protect Lende►'s ��;.�
<br /> �;�.;(� security interest in the property.Thfs may Include completlnp the con4tructlon.
<br /> � ��.. , i.,'a�
<br /> l.ender's failure to porform wili not preclude Lender from exorcising any of its other rights under the Inw or this deed of trust. ,," . ;�: 'y',_
<br /> Any emounts paid by Londer io protoct Lender's security Interest will be securod b this deed of truat. Such amounta wiil be due on demend '. ",���M,
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<br /> end will b0er interest irom the date of the payment until paid In full at the interest rote In effect on the secured debt. .,,.,
<br /> ' ' 70. O�ftuh�nd Accsl�taUon. If Borrower fails to make any paymant when due or breake any covenants under thia deed of trust or any ,.'
<br /> � obligation eocurod by this deed oi trust ar eny prlor mortgage or dead of truat, Lender mey accelerate the meturity of tho eecured debt and . .
<br /> r � demand immediate payment and may Invoke the power of sele and any other remedies permhted by appliceble law. .�.-,�, ��
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<br /> . :_, ._ _ 1 f.Rsqu�st for NoUc� of D�fault. It ta hereby requested that copfes of the noticea of default end sale be sent to each person who Is n party .�, ,,
<br /> � hereto,et the eddress ot each eucn parson,as aoi iuiii�:�cto�r.
<br /> �' 12.Pcw�r of Svt.If the Londer Invokes the powat of sele,the Trustee ehell fitst racord fn the offico ot the register of deedt of each county
<br /> � � whereln the truat property or some part or parcel thereof le situated a notice of defautt contalning the Informatlon requlred by lew.The Tru�tee `�
<br /> ereto, and to other ersona ns retcribad by
<br /> ehall eiao meil copiet of the notice of default to the Borrower, to eech person who ia e perty h P p ; �;
<br /> applicable lew. Not leae then ona month after the Truatee recorde the notice of defeuit or two montha if the truet property 1�not In�ny �� '.�
<br /> : incorporated city or viilege end le used cable I�ew 7ruste�e�withou tdem�ndhontBorrower�sh�oll sell t el�propeprty�it publlc�untion to t1N RhlpM�t �' .
<br /> � end in the m�nner proscribed by eppp �
<br /> w bidder.If requlred by the Farm Homeateed Proteation Act,Truatee�hafl offer the property In two separate sale�as repulred by�ppllc�b��law.
<br /> Lender or�its decip�ee miy purcA,se the property st iny eele�by publlc announcem�nt et th�tim�md plice of�ny prevlou�ty�ch�dut�d�ele.
<br /> Upon recelpt ot paYment of the prlce bid.Trustee sh�ll deliver to the purchsser Truetee's dead conveyln the praparty.Tho recltld�contaln�d In �
<br /> � Truttee'�de�d shall b�prim�facl�evldi�ncs of tho truth of the�t�temenU contafn�d ihs�sin.Tru�ts���all apply th�proc��d�of th�taie In tho
<br /> tollowlnp order: (a) to ail expense� oi the aele, Inciudlnp, but not Ilmited to, reosonebie Tru�tee's fee�, n��on�bt� sttorney'�fen end
<br /> reinrtetement tees;Ibl to ell sumt secured by thla deed of truet,and(a)the balsnce,If eny,to the pereon�Iepatiy�ntitl�d to�uNvs It.
<br /> 18.Fa�clowr�.At Lender's optlon,thia deed of uust mey ba foreclosed in the menner provlde by applic�ble law tor toncloture o}mortpipe� �r•�
<br /> on real property.
<br /> � 14. Intp�edon.Lendor may enter the property to in�pect it if Lender gives Borrower notice beforehand.The notice must stete the reaaonable �
<br /> - � `• � cauae for Lender's Inspection. �
<br /> � 16.Cmd�mnattw�.Borrower aaslgns to Lender the roceeds of eny award or clalm tor damages connected with a condemnatbn or other taking _ _--_� —
<br /> of ell or eny part of the property Such proceeds wiP be epplied es provided in Covenant 1.Thin asalgnment ie eubJect to the terma of any prior �,:.�
<br /> r securiry egreement. � . _
<br /> eny remedy upon Borrow s defaulta Le�aa1edo e°not weive enyr fght to later�conalder ihe event e�deteult If it heppena palny By not exerciclnp �_��!�
<br />' � 17. Jofnt �r►d 5ev�rr UsWIity;Co•dpner, 3ucc�uw�end Asstges Bound. All dutles under thle deed of trust are Joint end eeveral. Any ° -
<br /> � • � Borrower who co•algns this deed of trust but does not co-slgn the underlying debt instmmentls) doee so onty to grant end cronvey that ,�:__ �
<br /> •. .. : Bortower's Intorett In the property to tho Trustee under the terms of thia deed of trust.I�addition,such e Borrower eprees thet the Lender and -•-�*-
<br /> $ any other Borrower under thia deed o}truat mey extend,modify or make any other ehan�ee in the terme of thle doed of uuat or the secured ��ys�,-,,,,�,,,..rA�,�_
<br /> � . ; � debt without that BorroweYs consent and without releasing that Borrower from the terma ot thla deed o(tmst. x},;�,�ww��_.
<br /> .� ;,'-�YLL-��
<br /> ��;., f The dutfea and benefits of this dead of truat shaii bind end benefit the succeaears and essigns of Lender and Borrowor. ���'' �
<br /> , ':���3C`'�.
<br /> 18.Nodco.Unleas otherwiee raquired by lew,any notice to Barrower shell ba gfven by delivering it or by mellinp it by certifiod meit eddrossed to = �-�"' "
<br /> �.N.��...�w ,/�l�.
<br /> ! Bor►ower et the property addre�s or anV other addreas thet Borrowar has given to Londor.Borrowor wiil pfve eny notice to Lender by certified , �;,;`:•'�f.-
<br />_ , � rnaft to Lender'e eddreae on pape 1 of thls deed of truat,or to any othAr nddress whfch Lendnr hea desipneted.Any other noticd to Lender ehall . .. . ��C%..
<br /> be sent to Lender's eddresa ae atated on page 1 of this deed of trust. t�1'•;-:�::w'�t'pt'��: ;:
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<br /> Any notice shall bo deomed to heve been givcn to Barrowor or Londer whan given In the menner stnted above. � • �
<br /> 19. Trensfer of th�Prop�rty or�B�n�flciat Intonst In th�Borrarfer. If ali or ony part of the propertY o►eny interest In It is told or Vensterred • � " '
<br /> , peyment it he,Borrower Is not a�natural person andda benoficlal�Intaresi Inrtthot6orrowerelsusolddob tronsfer ed BHOwever�Lendermmay not •
<br /> ' demand paVment in the above eituatione if it is prohibited by federal faw es of tho date of thla deed of truat.
<br /> _ � , 20. R�coov�yanc�.When the obligatfon secured by thia deed of trust has been pafd, and Lender has no further obligation to meke advencee : _
<br /> undor the instruments or egreements secured by thla deod of trust,the Trustae chail, upon written requeat by the Londar,reconvey the truet ,• .
<br /> •, • � property.The LAnder shall deliver to the Borrowor,or to Borrower's successor in Interest,the trust deed and the note or other evidonco of the
<br /> _. _._.—_� obllgatfon so satisfled. Borrower shall pay any recordatian costs. .
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<br />' 21. Succ�stor Tru�t��. Lendor, at Lnndor's option, may remove Trustee end appofnt a auccoasor truatoe by first, mnlling a copy of the
<br /> aubatitution of truatee as requtred by epplicablo lew,end than,by filing tho substitutfon of trustoe for record in tho oNice of the re pistpr�deholl
<br /> � of onch county in whfch tho trust property, ar nome part thereof, is situated,Tho succossor truotoo,wfthout conveyanco of tho ro 0
<br /> - succaed to ell tho powor,duties,authority and title of tho Trustee named in the deed of truat and of eny succoesor trustee.
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<br /> - - OANKEHS SYSTEMS.INC..ST.CLOUD,MN G8701 It•80U•397-23411 FOFlM OCP•A1T6�NE 8/19181 _ ^ � �
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