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<br /> � 1, Paymsr�. Bortower a�ees to make all p�yments on the secured debt when Qua. UNess Bortower an� Lende► e8ree othenvlse, any ��
<br /> � �� paymerrta I.e�der recctivea Nom Borrower or Tor 8ortowefs 6anefit will be appited fiest to anY amow�ts Borcpwer owes on the secured Qebt ���••'.
<br /> �� • ot educe o exeuse�+�nY cche��ad paY�e�8 ����d dabt is paid in h�ille1��epayment of Me secured debt occurs for any reaso�,it�nd11
<br /> � p,qalms Aguin9t Thfe.8ortcwer wil{�Ay�t�t'axes,assessments,and ather charges attributabie to ttb raperty whsn due and wiU defend tiUe , .
<br /> - . Y `. dafa�nse�.s whchBBortawer may hav8�e a g st Parties who supply labo oa materiaia o impr�o or�mai�t�n the property�g�any rights,daims or � _
<br /> ' 3.�eo.Borrower wiU kaep the property insured unQer terms aeeeptedle to lende►et Bonowers expense and for Lender's benafrt.AII , � .
<br /> � insivance poliues shatl mdude a stendard mortgaga clause irt tavor ot Lender.LenMr wiA be�amed a9�oss payee or as the insured on any such : .
<br /> • ' ori`a�e ee;�ea ae�i ff%�a pequ�ireedasmor gage Iruur�ance�,BoRO er agae�es m ma(ntain�su�insu anee tor as Iong�as{ender requu�roDerN . , . . .`
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<br /> •" � 4,pr�tyt.Borrower will keep the Q*oPertY in goad condition and make all repa'rts reasonabty netessary• ,
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<br /> 5,E:penses.Borrower agrees to pay all Ldnders e�cpenses,including reasonatte attomeys'feea,if Borrower breaka any covenarrts in this deed �
<br /> � , :-: � of trust dr in any obligatian searad by t��s Qeed of trust•BoROwer wiil pay these amouMs to lender as pravided in Covenant 9 ot this deed of
<br /> ttust.
<br /> . g,p�tOr Sey�aily Urteresta.Unlesa Bortower flrst ob�i�Lende�s written wnseM,Bortowes witl not make a permit any changes to any prior
<br /> � - sequity intere�ts.Bartawer wiil perform all of Bottowers obtigatians under any prior mortgage, deed of trust or other seairity agreemenL
<br /> . �:; i�cluding Borrower's covenants to make payments whe�due. - �
<br /> - ' - t� 7.Asat�unert ot Retne end Pmfits•Barcower assigns to Lender the rema and profits of the property.Unless Borrower and Lender have agreed ;,,,;
<br /> ' ' . ": � ptherwue i�writing, Bonower may coCad and►etain the rents as tong es Bonowar-is not in defaul� tt Borrower defaults,Lender,LenQer's _ �y;;
<br /> agent,or a court aDpoirrteG teceiver may�ke possession and manage the properiy and collect the rems.Any rents Lendar coliects shail 6e .-_,_
<br /> .' • aPPlied fast m the costs of managtng the propertY,induding court costa and atmmeys' fees, commissions to remal agerrts. and any other . -
<br /> ` � << necessary related e�enses.The remaining amourtt of re�s will then apply to PaymeMS on the secured Qebt as provided in CovenaM 1. *�-.� '
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<br /> �>.. . , g_Leaaehold�•Cond�dntuma•Ptacmed U�it Oaveloymetrts;Borrower agrees to compIY with the provlsions of any lease if this deed of trust is on A_
<br /> �,S'. „ ,; ' "" a leasehotd.If tfils deed of trust i.%cn e unk in a condommium or e ptanned unit devetopment,Bartowes wili perfortn all of Bortower's duties
<br /> undar the covenants,by-Iaws,or�egutations of the wndominium or pianned unit deva�apmem. ; _�
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<br /> g,q�a�y p}��tp Pttrtoan tor Besrower.If 8orrawer falla to oerfortn sny of Bor�owar's dutles under this deed of Wst, Lender may . ,'ti-_�_--
<br /> perform the duttes opr eause thsm to be performed.Lender may sign Hortower's name or psy arry amourrt'rf nacessaN tor pertortnance.If arry ,
<br />=f! � � , s�e uti�i�i�mnrest i�itethe property�Thisrm Y inelude compieetin9 the eonstrueUonmanner,Lender may do whatever is necessary W pcotect Lenders . _ —
<br /> Lenders f8ifure to perform will not preclude Lender from exetcising any of its other rigMs undet the law or tfiia deed of trust. -„ - � �;;-.�_
<br />�.; , Arry amounts patd 6y Lender Lo prateet Lenders security inierest wi116e sacured by this deed of ttusG Such amoums witl be due on QemanA ' � �.,._
<br /> ._ , �i and wiil bear irrterest trom the date of the payment imtil paid in full at the interest rate in effect on the secured detrt. �'.�,°�<
<br /> 10. DetauTC and Aceeteratlan. If Bonower fails to make any paymeirt when due or breaks any covenams under this deed of uust ar any � • � �;��,
<br /> � ' � ," obligation secured by this deed of trust or any prirn mmtgage o►deed of trust,lender may accetetate the maturityr of the secured debt and 5 '
<br /> " demand immadiate payment and may(nwke tite powar of sale ar►d any other temedles permitted by appticable law. „ �r`�.y�,iR•,:
<br /> heiotoe a�t t�tie add�re�ss of ead►�sud►personfeas cet�for�Ui he ein.�p��of the notices af defauit and sale be sent to each person who is a party �.,.,
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<br /> '.�-�', '� :;, � 1Z.Power of Sate.ff Me Lende►imrokes the power of sale,the Trustee shali first�ecorA in the offlee ot the register of deeds of each courtty .�,;a�::;
<br /> wherein the trust property or some part or parcel thereof is situated a natice of defauk contain'ng the irtformation required by taw.The TrustEe „•�. i�:.�:
<br /> ' � shall atso mail copies of the notice ot defauft to the Bartowar,to each person who is a party heteto, and to other persons as prescribed by ;<< ��.=Y,._,
<br /> ' � applicab(e taw. Not less than on� month after the Trustee records the notice of defauit, or two martths'rf the Vust property�s aot In an}t -
<br /> � : . ; � incarporated city or vittage and is used in tarming operations pnied on by the trustor,the Trustee chall give public noUce of sete m the persons ` , -:
<br /> and in the manner prescnhed by eAADlicabte taw.Trustee,without demana on Banower,shall sell the property at pu6iic auc6on to the highest �
<br /> bidder.lf required by the Farm Homestead Proteetion Act,trustee ahall offer the property in two separate saias as requireA by appiiCahte law. :��-
<br /> � Tnistee msy postpone sa�e of al�ar any parce�of the property by public announcement at�he Ume and piace of any previausly scheduled sale.
<br /> ' .. _ Lender or its Eestgnee may purchase the property at any sale. '�-�_
<br /> Upon recefpt of paymern of the price bid.Trustee shail Qeliver to the purchaser Tnu^tee's deed conveylng the property.The recftiais co�tainad in ' '� -
<br /> Trustee's Ceed sha8 be pdma facie eviEience of the Vuth of the statements corrtained tfierein.Truatee ahall appty ffie pwceeda of the eaie in the _
<br /> � • foltowinp order: Ia1 to all exDe�s� of the sate, including, but not limited to, reasonaOte Trustee's tees, reasonable attornay's fees and ,.t{�.;
<br /> � reinstatement fees;(b)to all sums secured by this deed of trust,and Ic)the balance,it any,to tt�e pereons IegallY entitted to receive tt. : T``:_
<br /> � 73.Foreolosure.At Lender's option,this deed of uust may be forectosed in the mannsr provide by applicabie law tor forectosure of mortgaBes • ' �y";'-
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<br /> . ,. • on real property. � __ �.
<br /> ' ' 11 14.tns�eotlon.Lender may enter the property to inspect R if Lender gives Boaower notice beforehand.The notice must state the reasonabte '+�;:�� `_�i
<br /> : � " , f cause for LendeYs inspecdon. :
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<br /> 1 16.Candemnetlan.Bonower assigns to Lender the proceeda of any award or claim for damag es connected witA a conQemnatton or ather taking . �;,_
<br /> of all or any part of the D�oparty.Such proceads will be appiied as provlded in Covenant t.7�is essignment is subject to the terms of any p�lor . �r
<br />- I' , ! sacuritll eSteement. �
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<br /> �, ' ' 18.Waiver.By exercising any remedv available to Lender,Lender does not give up any righta to tater use any other remedy.By not exercising
<br /> •� ; arry remedy upon Bortowe►'s defautt,LenQeT doea not�nraive any rigM to later conaider the event a detauk if it happens again.
<br /> � 17,Jotcrt and Several Lia6itity Co-signeta;Succoasma end Aasi�a Bound. AI1 dutles unde� this deed of trust are joint and several. Any . �. �.;• • :
<br /> � � gorrpwgr who co-signs this deed of Vust but does not co-sign the underiyIng debt instrumentla) does so oniy to grant and convey that •
<br /> ' � Borrower's interest in the properry to the Trustee under the terms ot this deed of trust.ln aQdition,such a Borrower agrees that the Le�der and
<br /> � debt without that Bo i�owei siconeseent and withouvt releas ng the�Borroweei from t�he terms of this deed ofmttustf��s deed of ttust ot the&ecured
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<br /> � . i The duties and benefits o}this deed of trust ahaii bind and 6enetit the successora and asslgns of Lender and Bonower.
<br /> � . � 78.NoUce.Unless otherwise required by taw,any notice to Borrower shall be given by delivering it or by mai8ng it by certifled mail addressed to .� .t •
<br /> :�."; ! Borrower at the propertyr addresa or any other address that Borrowar has gtven to Lender.Bortower w�ll give any notice to Lender by cerNfied . . .
<br /> mail to Lender'9 address on page 1 of this daed of trust,or to any othar adQress which lender has designatad.Any other notice to Lender sha0
<br /> � be sent to Lender's aCQreas as atated on page 1 of this deed of trust. •
<br /> . Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above. •
<br /> ' 19.Transfer o!the Croperty or o Bonoflciaf trHaroat in the BoROwer.If ati or any part of the properN or any intereat in it ls sold or Vansferred
<br /> without Lende�'e prior wrltton consent, Lendor may demand immediate payment of the secured debt. Lender may also demand immedlate • _
<br /> ' � payment if the Bortower is rrot a netural person and a beneficial interest in the Borrower is sold as trensterred. Hewevor, Lendor may noi �
<br /> . ,_ � demand payme�t in tho abavo situations if it is prohibited by(ederal law as of the date o}thia deed of trust. •
<br /> Z0.8eeonveyance. Whon tho obligation secured by this deed o1 truat has 6een paid and Lender has no turther obiigatlon to make aQvances ' . . �
<br /> � � under the instruments or agreements secured by th)s deed of trust,the Trustee ahalf upon wrltten requeat by the Lender,reconvey the trust ..
<br /> , . � proporty.The Lender shall detiver to the Bortower,or to Borrower's sucwssor in interest, the trust deed and the note ot other evidonce of the
<br /> • obiigatlon so saUstied.Borrower shalt pay any recardation costs. :
<br /> � 21.Suesossor Trusteo. Lender, at lender's option, may romove Trustee and appoint a successor truatee by firat, mailing a copy o1 the .
<br /> � �° • � substitution of trustee as ruquited by aQplicable law,and then,by titing tho substitution of trustee for record 1n tho oitice of the registet of deeda
<br /> of eatA county in wh{ch the trust ptopetty,or some part thereof,is situated.The successor trustea,without conveyance a}the propetry,shall
<br /> , succoed to a1t the power,duties,authority and titte of the Trustee named in the deed of trust and o)any successor trustee.
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<br /> • lpago 2 0l 2�
<br /> ' ' ' 9ANKEAS SYSTEMS.INC,ST GLOUD,MN 56301 I7 80439P23A11 iOHM OLP�MiGNE 811997 ___ � _ -
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