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<br /> COVENANTS ^� �G'�)Q/y ';�'_
<br /> °9 � ���ilir
<br /> 1. Peyments. Borrowor agroos to mnko oll pnymontn on tho socur9d dobt whon duo. Unloco Borrowor�nd I.ondor nprao othctrwlso, eny -
<br /> pnymonte Londor rocolvoe trom Borrowor or for Borrowor's bonotit will bo appliod firat to ony nmounts Borrowor owne on tho socurod dobt
<br /> ozcluaive of Intoreat or principnl,aecond to Intoroat,und thon to princlpel.It partlol propaymont of the r�etured dobt occure for any roaaon,It wlll
<br /> not reduce or oxcus(e nny schedulod payment until the eecured debt ie paid in full.
<br /> 2.Clalms Ay�intt litl�.8orrowbY witl pay el!tdxarrll ssmente, and other chargee ettributable to the property when due end will dcfend title �,•
<br /> to the property ap ainst eny clefma yvhiah 11vOS1�q��(�Palr t ie Ilen of thle doed of truet.Lender mey raquire Borrower to aselpn any ►Iphte,clalme or Rr,
<br /> de}enaea which Borlowe�.rtNy h�►ye.*p�in��.part��Yut�}pleupply labor or meterlab to Improve or malntatn the property. ;�:3_�•
<br /> 3. Insunnc�. Borrowar wfll keep the property Inaured undar terme accepteble to Lender et Borrower'e oxpanae and for Lendor'e benefit,All �,�,�
<br /> (nsuranco pol(cios shail includo a standard mortpeye clauae in tavur of Lendar.Lender will be named as locs payoo or aa tho in:urod on any cuch , "-
<br /> � Insuronce pollay.Any Inauronce proceedt mny be epplled, within Lender'�di�crotlon,to elther the restor�tion or ropefr a}th�dameged p►operty `��'�':a�
<br /> or to the secured debt.If Lender requlro�mortpepe Intunnce,Borrowe►agree�to melntaln euch inwrance tor a�long as Lsndn �equtre�. ,+:t °:-�•-
<br /> 4.Prop�rty.Borrower wlll keep the property In pood conditlon snd mtke ell repaln rua�onably neceuary, � ,.'t ',.
<br /> � .T �.EKpmi��.Borrawer aqrees to pey ell Lender'�expeme• Includlnp roaeonebin attomeye'feee,If Borrower breakt eny covenAntt In thl�deed �� �'-��
<br /> : I of trutt or In eny obilp�tlon aecured by thl�deed ot truet, �orrower wlil pey theee emounte to Lender ee provlded In Covenant f�of thl�deed of f ti 'i,�:�ti';.-
<br /> 1 trwt. :,� ,o c.:
<br /> �'.Y.��•-,_
<br /> � 6.Pda 8�audty tnteut�.Uniea�6orrower ilrot obtalm Lender'� written aonsent, Borrower wfil not meke or permlt eny ohenQe�to eny prlor ____-'-____
<br /> �ecurity Interest4. Oorrowar wtil perform all of Oorrower'4 oblipatlona undor eny prlor mortpape,deed oi truat or other security agreer��ent, - -
<br /> Inciudlnp Borrower's covenants to make paymente whan due. �.,,?_ ----
<br /> 7.Mdpnm�nt uf Rtnu�nd Protlu.Borrower a�sipns to Lander the rent�snd profite of tha property. Unieae Borrower end lender hava apreed ---
<br /> otherwite In writinp, Bonower m�y colleot end reteln the rente aa long as Borrower 18 not In default,If Barrower defaultn,Lender,Lender's
<br /> agent,ot a court eppolnted recoiver mav teke poasoselon and mariage the property and colloot the rente.Any renxe Lender callecte ehell be � -
<br /> '� app!led firet to tho costa of manoging the property, Including court costa and attorneye'feea, comml�siona to rental agents, end eny other ,�::,�
<br /> } necesaery retated axpenses.The remaining amount of rente will then apply to paymenti on the seCUred Eebt ea providad in Covanant 1.
<br /> ' 8.L��wheldr Condomink�me:PIM►ned UMt Devel '"" �
<br /> opmsnte.Borrowar epreee to comply with the provieione of any leeee if thie deed of truet le on -.�----
<br /> � a loatehold.I�thfa deed of truct le on e unit in e condominfum or a planned unit development. Barrower will perform ell ot Borrower'e duties -
<br /> .. � under the covensnte,by-lawe,or regulationa ot the condominfum or plenned untt development.
<br /> 9. Authaity of L�nd�r to P�rform for Borrow�r. If Borrower talls to pertorm eny of Borrower's dutfae undar thle deed of trust,Lender may �.,.,_
<br /> � parform the dutiea or cauae them to be performed. Lender mey eign 8orrower's nama or pay any emount If necenaary for performence. It any _��_
<br /> �anstruation on the property la discontinued or not carried on in a reaaonable manner,lender may do whatever fe necosaary to proteat Lender'e
<br /> , securfty interost in the property.Thie may include completing the conetructlon. �.+-.
<br /> t=
<br /> • � . Lender's failure to perform will not precluJe Lender from exerclsinp any of its other rfghte under the lew or thia deed of trust. � �
<br /> � Any emounta pald by Lender to protect Lender's security interest will be secured by thls deed of trust.Such amounta will be due on demand .r�`1�{��..
<br /> Y nnd wlll beer Intereat from the date of the peyment until paid In fuil at the Intorest rate in eNect on the sacured debt. �r�, -
<br /> � 10. D�t�ult�ud Acceln�Uon. If Borrower feits to make any peyment when due or breaks any covena�te under thta deed of truat or any °`y�'��
<br /> �� �: oblipatlon secured by this deed of truat nr eny prlor mortgage or doed of trust,Lender mey accelerate the maturlty of the sacured debt and �'�
<br /> -• i demend Immediate payment and may invoke the power of sale end any othar romediea permitted by epplirsble law. --
<br /> �; p_
<br /> -_----=--=L.� '!'!.Fi�s�!!cs Natk�a!L':S-�_.s!!.!2!s hsrab�ra�;:astaC ih�i,:cptao ct ih:. notlwa af datauli and eala`�,: ssrsi io eaah�rs;,z •::ha !s a�arty •
<br /> � -t hereto,et the addresa of each 6uch person,es aet forth harein. } _.-
<br /> . � 72.Pow�r of 8at�.If the Lender Invokee the power of eale,the Truatee ehali firat raCOrd in the office of tho regieter of deeds of each county `•
<br /> wheroin the trust property or some pert or parcel thereof Is situeted e notice of default contalnlng tho INormetion required by law.The Trwtee
<br /> i shall elso mail copies of the notice af default to the Borrower,to oech person who la a perty heroto,end to other person�as prescribed by �.. �,_-
<br /> ,� applicable law. Not leas than one month after the Truttee rocordn the notice of default or two months If the truat property Is not In eny ;4; -�
<br /> � ,�. tncarpareted cfty or vlllape and is uced in tarmi�g o�peratlons carrled on hy the trustor,the fruetee chall pive pubiic notice of seio to the persona • ��r''
<br /> i' and In the menner preacribed by apppliceble lew.Truatee, wlthout demend on Borrower, shell eell the properry at pubilo auctlon to the hlphest =
<br /> bidder.If requlrad 6y the Farm Homestead Proteotlon Act, Trustee shell offor the property In two eeparate ealea at requlred by applicable law. '.`
<br /> Truatee mey poetpone seie of all or any parcel of the praperty by pubilc ennouncemeni at the time and place of eny prevloualy scheduled eale.
<br /> Lender or Ite deaignee mey purchaae the property at any eele. .
<br /> " � Upon reCelpt of payment of the price bld,Truntea shail delfver to the purcheser Trustee's deed conveyi�p the propertyr. The r9clttale conteined in �
<br /> Truatee'e deed ahall be prtme feole evidience of the truth of the etetemente contalnad thoreln.Truetee ehatl appiy the proceede ot the mele In the
<br /> , tollowlnp order: (a) to all expenses of the oele, Including, but not Iim(tod to, reasonable Truateo'�fae�, reaaonable attorney's fees and - — -
<br /> retn�tetemant feea;(b)to ell aums secured by this dead of truat,end(01 tho balance,It any,to the persona lepelly entitlad to receive it.
<br /> 73.Foncla�un.At Lender'e optian,thia deed of truet mey be foreclosed in the menner provide by eppllceble lew tor forecloauro of martyapes ��
<br />. on real property. �-_'
<br /> c.,
<br />_` � 14.In�wction.Lender may anter the property to Inspeat it If Lender pivea Borrower noUce beforehe�d.The notice muat atate tho reasonebte "•
<br />;"". cause for Lender's inapectioo.
<br /> ,� 7 6.Cond�mnatlon.Borrower essigns to Londer the procoeda of any award or clalm for damages connectod wRh e condemnetbn or other taking ``-
<br />. of ell or eny part of the property.5uch proceeda wfll be applied oa provided In Covenant 1.Thla asslg�ment la sub�ect to the termo of eny pdar _ _�___
<br />- �' security epreement. ��-- " _-
<br /> !�_ . 1�.W�vK.By exercisinp any romedY availeblo to Lender, Lender doea not gfva up any righta to later uae eny other remedy.By not exercising �:--—`—
<br />-_-.-�� eny remedy upon Borrower's defeult,Lender doea not waive any right to leter conalder the event a defeuit if it happens ngein. ;==" �
<br />_•°� ,;f� 17.Jotnt and 3�v�rr LI�Wllty; Ca•stp��rs; Succasas and Aaipn� Bound. All duties under thb deed of truet are Jolnt end severol. Any '-
<br /> �•� � Borrower who co-sipna thie deed of trust but does not co•sign the underiying debt inatrumentle) doea so only to yrent end conve thet r--
<br />-„� ;�*',;,;.' Borcower's interest in the property to the Truttee under the terma of thle dead of truat.In edditton,tuch e Borrower egroes thtt the Lender end -
<br /> «. •.,. � any other Borrower under thl�deed oi trust may extend,modl}�or meke e�y othe►cha�gca in the terms of this deed of truat ar the eecurod �'"-- ---
<br /> debt wlthout that florrower's con�ent end without reteasing that Eorrower hom the terms of thls dead of uust. e -
<br /> > '�
<br />�✓"'I
<br />_ , .;, Yhe dut�ea end benefits ot thie deed of truat ehall bind and benofit the succesaoro and easigns of Lender end Borrower. ';���Q-�
<br />. � � 18.NoBc�.Uniesa otha:wise r�rquired by law,any notice to Borrower shall be givan by dellvering(t or by mailinp It by ceni(Iwd meli eddressed to -;r'.ee ��.
<br />_ � Borrower at the properry eddrose or any othor eddroee thet Borrower hae ivon to Lender.Borrower wul piva eny notEce to Lender by cartifled ` - �-�-Rd� -
<br /> • � mail to Lender'a addrase on pege 1 of this deed of truet,or to any other e�drosa which Lender has deeiyneted.Any other notice to Lender ahall "•+��� ��
<br />• ' bo sen�to Lender's eddresa ea atated on page 1 oi thia doed of trust. -�a.�. ,P. e-
<br /> f,n +•_<
<br /> � Any notice ehell be deomed to have been given to Borrower or Lender when given In the manner atated ebove. ������,`'-��,,-,�,f��
<br /> �;-r.�..;�w�..z..
<br /> 79.Tnnst�r o}cJ��Frop�rty or a B�fldat IMerut in th�Borrow�r.It all or any part of tho proparty or eny Interost in it is sotd or trannforred �° A,p��'��''•��
<br /> • without Lender'o prfar wrttten conaent, Lender may domand fmmedlate pay�nont of the secured dobt Lender mey atso demand immedlete '�?'" �'�`�'��P'`�"•��_
<br /> , paymbnt If the Borrower ie not e neturet person and a beneficlal Interest in the Borrower Is �otd or Vansferred.Hawever,Lender may not �'-`F�'"
<br /> , ., „ demand peyment In the abova eftuetiona if ft Is prohibited by fedoral law es of the dete of this dead af truat. „ '
<br />; ` 20.R�caiv�yMC�. When the obifaatlon eecured by thls dned of truet has been pald and Lender hecs no further obiigetlon to meke adven:es �
<br />-. under the inatrumente or egreemente secured by thla deed of trust, the Truetoe shalf upon wrftten roquest by the Londer, reconvey the truet
<br /> . ., properry,The Lender ehell deliver to the Borrower,or to Borrower's nucceasor In Intereat,the truat deed end the note or other evidonce of the
<br /> -.---- ------------ ub110atI0n IIo e&tlatl9d.8nrrnwer nhall nav anv rortnrdatinn nno�. -_.-_-------
<br /> 21. Succ�ssa Trustw. Londor, et Lendor's option, may romove Trusteo and nppolnt a succoesar tmstee by first, maillnp a copy of the
<br /> subatitutfon of truetoa as requlrod by epplicablo lew,and thon,by flling the subatitutfon of uustee for record In the offlae of tha roglster of deede
<br /> of eech county In which tho truet property,or eome port thereof,le eltuated.The succeaeor truatee,without convayance of the property, ehall
<br /> succeed to all the powor,dutlos,euthority and title of the Trustee nemed in the deed of truet end of eny�uocaasor trustee,
<br /> _ rp�y�?or 2l
<br />�- . - . - BANKEflS 6V6TEM8.INC..BT.CLOUD.MN 6E301 11•800��87•2JN1 F00M OCP-MTO-NE 6118/81 , _,
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