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<br /> . . , +' COVeuar+�rs ' 9 --��i�'��� ; ' .
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<br /> rtower a s to make ellpaym erte on the sasxued debt when due. Un►ess Borrower and�nder agroe otherwisa, any ,,£r°
<br /> . 1. Paymer►ta. Bo S�ee '.,`.'
<br /> • paymsnts l,onder rece{ves tram Borto e or ni r Borro�R���.�R��eQ�ent of the sewred debt occura tor any ea neidwbt ��' '-
<br /> exdusive af interest or pdneip�.se tx � �4 ' r', `
<br /> � , . . �� � not�educe or excuse anY echeduie�i�ll�ehtvn�s�acd�fittet�t is p�d ie tu11. � ,.
<br /> • � atJ�.c•:i�4'1'N..^',;;•.,.
<br /> ` y,q�Ag�t�t iitiB•Bonowe�rwiti�+._�,�tgi�ssmentg�and other charges etaimutabte to tha property when dus and wi11 detond Utlo ,
<br /> � onower to assign am righw,claims ar ,
<br /> ` to the propeny eaa�s�any clalais w uItl 1ttY BSYt�e Rer►ot this Deed of wst.i.ender may req�e B • ,
<br /> � ' ' ' defensea which�onower may have 8ga�s�P��W�o euppN IeDOr or materisle to improve o►mairrtain the property .
<br /> 3,fosuran�e. Boaower will keep tha propertV ins�ued under terms aeeeDtahte ta Lender at Bonowers axpenso and tor Lendere beneft AU , � ,
<br /> � 4 i�surance patides shaii inciude e standard mortgage dause in fawr ot LenCo►.lender wilt bs named as losa paYee or as tha�nsured an any sucA .
<br /> crsm Me uued d�t I�d re �requiree.a�m Ko gage�ruu8rdance�BoKOwer e�ees t8o maEntain euch�ns�nc�e�as tong as LendererequU�sproperty , . ' . .
<br /> - - � Q,p�aperty.Bonower witl keep ffie property in good eondition end make all repave reasonabry neeessary. : __
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<br /> 6,E�penses,Borrower agrees to pay all Lender's e�enses,induding ressonable attomeYS'�.�f Bonower brealcs any covenants in this deed
<br /> •, ` `�:``� ot trust or in any oWigation secured by this deed of trust.Bonower w�tl pay tfiase amouots to Lender as provided in CovanaM 9 of this deed ot �, :: .
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<br /> 6.p��geqi�k�rasls,uo{ess goROwer first o6taios Lendefs wr+tte�consent.Bortawer wll not make or permit arry changes to any prior
<br /> seauity i�erests•Bortower wHl perform ell of Horrower's obfigasions under any D�or mortgage, Qeed of tnut or othst securii7!agreement, .. ,_`,,
<br /> . .. � inctuQing Bomowe►'s eovenenta to mate vaymerrts when due. ; .
<br /> ' 7,psslfgmter►t ot Re�end ProBte•Borrowar assigns m Lender the rents and profits o!the properq►.Unless Boaowar an d L en der hava a g teed , �; -�
<br /> � otherw�se in writing, Botrower may co�fect and retain tne re�as long na Borrower is not in detauit.If Botrower detauits.Lender,lender's �r.�
<br /> ' -`�, agent,or a caurt appoirted rece i ver maY take possession and managa the property and co0ect the rerrta.Any re+rts Lender coVects ehaU be „ ;•:°=,,�_,
<br /> appfied first to ttie costs of mana8ing the proAerty.induding court coste and attumeys'tees,commissions to seMaf agertts. an d ar►Y other � "'
<br /> to ents on the secured debt as Drovlded in Covenant 1. � :`+_
<br /> � ` nocessary rfltated e�enses.The remain3ng amount of teMS v+fi0 then epp[y Paym .F. . �
<br /> ` `' 8.Leaseholds•CondcmWum9:Pfenrted U�t Dev�Opms�.Bonower a rees to comply with the provisions of aml tease if this deed of bvst is on . r �` . _,;:y--_...,.
<br /> uride Me Wvst a��by a�ws,�oi�re8W8Uon.�s of tfie tondominiini�or pFa�nned8unitdavetoAmemit�Borrawer an�l perform a!1 oi Bortowers duUes --_-
<br /> • 9,Authortty ot Lender Lo Per[orm tot 8ortowar. If Borrower fails to pertorm arry of Bocrower's Quttes under this deed af tr�s4 Lender may � _
<br /> . . ,� • perfo�m the duties or cause tftem to be performed.Lender may sign Bartowera name or pay arry amaunt if neCessary far perfortnance.H arry . _ __�.
<br /> consonrction on the property is disconUnued or not carried on in a reasonabie manner,lender may da whatever is necessarY to Prutect lendera —
<br /> '' ' . ;:'�� security irrterest in 4he property.This may IocWde compfeting the construcuon. � �,:._
<br /> ' �� � Lender's fa7ure to perfortn will not precluQe LenQer trom enerdsing arry of its ather dBMs unQer tAe law ar this daed of trust. ;=�
<br /> ` Anq amourtts paid by Lender to protect lenders security irtterest wUl be secured by this deed of trust.Such amounts will be due on demand -- '` �.�-�
<br /> • and wilt Oear iMerest irom tAe date of the paymer�t u�'i paid in tull at the i�rterest rat9 in effect on the secured debt. ,�`��'�
<br /> 10.DeimAt end Aeeaterettan. If Borrower fails m make any OaYment when due ar breaks any cavenams under this deed of trust or any �
<br /> ' •;, + obligatlon secured by this deed of trust or any pflar mortgage or deed of trust, Lendar may accetera�9�b1e�a�rtV of the secured debt and ; � � ,,.,���;
<br /> ' � demand imme0iate paymerrt and may invoke 1l+e power of sale and any other remedes permltted bY aDD� :. ..�_ �
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<br />- ' �•�f� 71,Re�uest tor NatIce of Oetaul4 It is hereby requested that copies of the notices af Qetautt and sate be sent to each person who ia a party r:.•: �__`
<br /> � f f hereto,at the address oi each such Derson,as set forth herein. a{�: -•� _
<br /> ' 12.Powm of Sete.It the Lender invokes the powar of safe,the Tncstee shalt flrst recard in tt�e o�ce of the tagister ot deeds of each courRy �i�� i T�'� -_
<br /> • � ��'��� wherein the Vust propertV or some part ar parcei thereof is sltuated a notice of detauk cortain�ng the irRorrnation required by Iaw•Tha Trustee /�. �°`
<br /> ' %•%' shall atsa maif copies ot the notice o!default to the Borrower,to each Dorson who is e pattY hereto,a�w othe�persons as prescri6ed by ,.t': l��--
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<br /> f.. applieable law. Not tess tfian one month after t4�e Trustee recards the notiee of default ot two months iT the frust property is nat in any
<br /> incorporated ctty or viltags and is used in tarming o�VeraUons carrled on by the uustor,the ftustee shalt g'�ve public notico of sale to the p�sans :'.��`��,.
<br /> 'r� and in the manner prescribed bv eppplicabte law.7rustee,without demand on Barrowar,shall sell the property et public auctlon to the higtiest , ,�r„ ,
<br /> biddef.lf tequhed by the Farm Itomestead Protection Act,Trustee ahall offer the property in two separate sales as required by applicahte taw. • �, i
<br /> Tnwtee may postpone sale of a11 or any parcel of the property by public anrtouncemeM at ths vme and place ot any previously scheduted sale• „���a_
<br /> • ' ' lender or its deslgnee may Durchase the propartV at any sale. -. ��-:�,�;':
<br /> - • •- - Upon�ecetpt of paVm ern ot tha price bid.Trustee sfiatl detivar to the purchaser Trustee's deed conveying the property.The recitlats coamtned in ^-���s`�=-
<br /> Trustee's deed shall be prima fade evldience of the truih of the statemerrcs conmined thareln.Trustee afiari�ply the proceeds of the saie in the ;�r�a_:,_
<br /> � ' totlowing order: (a) to all expensas of the sa1e, induding, but not limited to, reasonable Trustee's fees, reasonabte attorne}re fees an0 ; .,_.��
<br />- reinstatement fees;(bf to all sums seaued by this deed oi trust,and(c)the balance,if any,to the persons tegalty entiUed to receive it. � �>��,_,�_
<br /> ' '•� 13.Foreelos�ue.At Lender's option,this deed of trust may be torectosed in the manner provido by applicabte law for torectosure of moRgages ;.',�.�,T"--
<br /> �� on real property. .,�:. '',i;';:.,d.
<br /> f t4.fnspeettoa.Lender may enter the pro0erty to inspect ft�lender glves Borrower notice betorehand. Tha notice must state tAe reasonable __ -•�;�'-"
<br /> . . ` , cause for Lendar's nspection. � ;-�K�'��'
<br /> � 15.CanQemnetlan.Bonower assiB�ns to Lender the proceeQs os any award or clalm for damages connected wtth a condemnaUon or other taktng �. .,,,
<br /> � of all or any part ot the propertV.Such proceeds will be eppt�e4 as provided in Covenant 1.This assignment is subject to the terms of any prior , �- _,-�.•�=--
<br /> � securttY e9reemetn. . . .. �'`
<br />: ' 18.Watver. By exetclsing eny remedv availabte to Lender,Lender does not give up any rig:��to Iater use any other�eme0y.By not exercising , �: '
<br /> any remedy upon Boaower's delault,Lender does not waive any right to tater consider the event a defauft it it happens again. . �.`1 "����.��;
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<br /> � 17.Jolnt and Severd Uab�y.Co-atgners; Succossora ond Asst�a Botatd.All Quties under this deed o}truat are jotnt and sevaral. Any . , �
<br /> ' '� I Bonower who co-signs this deed ot trust but Aoea not co-sign the undertylne debt ins�rumentfsl does so only to grant and convey that � `:
<br /> . �� B o n o w a r's i�t e r e a t in the pro pe r ry to the Trustee under the termtys o1 thls deea of trust.tn aCdition,sucT�a Bomower agreea that the Lender and • , ,
<br /> . . debt without that 8or ower s�conseni a d witho�i+�t r le easing that Borrowe rfrom the terms ogf this deed o1 trust t h i s d e e d o f tr u s t o r t h e s e e ur e d � ,�
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<br /> ' The dutles and benefits of thls deed of trust shall bind pnd beneflt the successars and assigns of Lender and Bonower. . � «;. ,.
<br /> 18.Natico.Unless otherwise�eQuired by law,any notice to Bonower shall be given by delivering it or by mailing it by certiHed mail add►esaed to .� � ' '����'
<br /> Borrower at the property addrese or any other addres3 that Borrower ha9 Aiven to Lender.Borrower wltl give any notice to Lender by cer8fled
<br /> . 6e sent to Lender8's address as steted onip ee f of thts dned of pnMther address which Lender has designated.Any other rtotice to Lender shall . •
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<br /> � - Any notice shall be deemed to have been given to Borrower or Lender when ghren in the manner stated above. .• - .
<br /> 18.Tranatar o!tho�operty or o 8onoflcla)Interest In tho Bortowat.If atl or a�y part of the propeRlr or any iMerest in it Is sotd or Vansfened �
<br /> without Lender's prior written consem, Lende► may demand immediate payment of tho seeured debt. Lender may also demand immediate
<br /> � payment if the Borrower is not a natural person and a beneticlal interest In the Borrower is sotd or uansterred. However, Lender may not •
<br /> � damand paVmant in the a6ove situations if it is prohibited by federal law as of the date af this deed o}irust.
<br /> � ' . � Y0.Rocanveyanao. Whe�the obllgation secured by this daod of Vust has besn paid and Lender has no further obligation to make advances .
<br /> : . � under tho instrumente or egreementa secured by this deed of bust,the Trustee shat�upon written roqusst by the Lender,reconvey the trust
<br /> � • • � obt gation so saUsfiodBBo�rrower shalltpa yany ecordat�onBco ts.er's successor i�interest,the trust deed and t�e note or other ovldonco ot the `�•
<br /> � • , ,� 21. Sueeosaor Tn�stoo. Londers at lendeYs option, maV remove Trustee and aDPolnt a successor t�usteo by tirst, maiting a copy of the �
<br /> substitution of truatea as requited by�aDPhcabte law,and then,by lilin�the substitution o1 trustee for record in tho otfice o}tho reglstet ot deods
<br /> . . , , � succeed o ali tho powar dutiea eutharity and titlo of t e Tru tee named in ho doud o!trust and of any�suc os[sof trustee.of tho property,ehall . ,
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<br /> . ' � BANKEPS SYSTEMS.INC.ST CLOUO.MN 58301 11 800 397�236/1 iOHM OCP�Mt6NE 811991 _ _ _ __
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