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<br /> COVENANTB �T� '�p��
<br /> paymenie Lander recelvee�from Borrower or loi Borrower'i benefit�widll be��epplled���►4t to ony emounte Borsowor odwoaeonihotoocurcd dobt
<br /> excl��ive o}Intoreat or principai,seao�jd lo Inter�nt,�nd than to R'����R°�•�}PAitlel prepayment o}the eecured dobt occure for nny roeaon,It w1i1
<br /> not reduce or excu�a�ny�ch�dul�d p�ym�nt unttl th� accurad d�Dt I�p�ld In full.
<br /> Z.Clrlm�ApNn�t 7td�. M�viaM w���P�V�II t�xe�,oi�n�mmt�,end oth�►ch�rne��ttrlhutebl�to the prop�rty when duo and wlll d�}snd titte
<br /> to tt►e propirty�pNmt y cl�tm�l,whlch would ImDe1► h�Il�n of thb d��d o}truvt.L�nd�r m�y rsqulre Bnrrower to eeUgn any rlpht�,cl�lm�or
<br /> defentu which eorro �hwa�ONmt pn4i��wh eupply I�bor ot m�t�rl�l�to Improw or m�lnt�ln the Droporty.
<br /> 3.Insur�nc�. Bortowor will ku�p 4ho progi�rry tncuresl unde�te�me ecc�ptible to Lender et Borrowor's expenao end for Lender'e benefit. All
<br /> Imurenc�poilcte�sh�ll inalud�a�tnndud mon �p�pclaut�In favor o}Und�r.L�nder will be n�nied oa los�paVao or na tho Incurad on�ny nuch
<br /> � orstoahe aecurid asbtl If Lenderpequfte��morlp�pe Ineu��nce�t 8orrowsr��pre�es to�milntafn iuchhnaurence for ss lo B�es Lender�equlrei roperty
<br /> �� •-� 4.Prop�rly.Borrower will keep the praperty In aood conditfon end make rll repalrs reesonebty necesaary.
<br /> �M �0 6.Expxis��.Borrower epreee to pey ell Lender's expentea,Including reetoneble ettorneys'feee,If Borrower breeke any covenante In thla deed
<br /> of uuat or In any obllpetton teoured by thls deed ot trust.Borrower wiil psy theae emounte to Lender ae provided In Covenent 9 of thls deed ot
<br /> vuet. .
<br /> 8.Ps9w 3sc�dty lnterest�.Untese Borrower first obtaine Lender'e written conaent.Oorrower wltl not make or parmft eny chanflea to any prlor �:,�
<br /> eecu►iry fntereste. BorrowAr will porform ell of Borrower's o6ligetiona under any prlor mortgago, deed of truet or other seeurity egreoment, • th•.:,___-
<br /> includinp Borrower'o covenants to meke payments when due. ' �'r•'_''_-
<br /> 7.As�lpnm�nt of R�nt��nd Proftta.Borrower asslpns to Lender the ronte end profits of the property.Unleta Borrower end Lender have egreed :�.=-----
<br /> othe�wiae In writing,Borrower may callect end reroin tho rents es lone es Borrower te not In default. If Borrower deteulte, Lender, Lender's ��:e�-
<br /> d epent,or e court appointed receiver mey teke posseaelon nnd manage the property end colleat the rente.Any renta Lender collecte shall be ; ,t���r,
<br /> ^ � appliad firtt to the coste of managing the properry. Including court coete and attorneya' fees, commfselons to rentel egente, and eny other -, =��
<br /> neceaury related expensos.The remalning emount of renta wfll then eppiy to peyments on tha socured de6t aa provided In Covenant 1. ,rY
<br /> 8.L�n�hold�•CondortAniums;Wam�d Uoit DwMopmm4�•Borrower aprees to comply vrkh tha provlelons of eny Ieese if this deed of truot la on �;��
<br /> a leasehold.1�this deed of uust i�on e unit In e condominium or a planned unit deveiopment, Borrower w1i1 portorm all of BorroweYs dutiea _;�^�._
<br /> u n d e r t h e c o v e n a n t e,b y-I s w s,o r re puletions o}the condominlum or plenned unit development ,;�;-,...
<br /> 8.Authorfty ot L�nd�r to P�rform fw Borrow�r.If Borrower feils to perform eny of Borrower'a duties under thls deed of trust. Lendar may �'�.�
<br /> perform tM dutles or aauas them to be performed.Lender may eipn Borrower'e neme or pay eny emountif necesaary for performence. It any �,��i;�_,
<br /> construction on the property la disoontinued or�ot aarrled on in e reaeonable menner, Lender may do wheteve►la�ecessary to proteat Lender'o � ._
<br /> socuriry interest In the property.This may include completinfl the construction. � +�:+�-
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<br /> Lender's failure to perform wil!not preciude Lender from exercising any of Its othar riphte under the law or thla deed of truat. �„
<br /> Any �mounts paid by Lander to proteat Lender's�ecurity interest will be secured by this deed of trust. Such amounts will be due on demand �,---
<br /> �, end wlll beer interea from the dete of the payment until paid In tull at the Intereet rote In effect on the secured debt. �:.,_:�_
<br /> � obll�ilon�sacu ed by�thia deed o6uuct or any prior mortg�4epo�deed of truatuLender�mey accelerate�the�miturityihof the�secu ed dsbt and �..a _
<br /> � demand immddiete p�yment and may Invoke the power of sale and any other remedies permitted by applic�bie law.
<br /> �,,, 11. Rrqu�tt ta Notk�of D�fwk.it la hereby requetted thet capfes of tne noiices oi dnieaii sr�d ea s �:�sst:o�s=h gers^n whn ia e Qarty -
<br /> : herato,et the eddrece of each such person,ae set forth hereln.
<br /> ���' 12. Powe o!S�I�.If the Lander Invokes the power of seto,the Truotee ehatl first reco►d In the offtce of the repiater of deeds of oech county
<br /> �' whereln the t►ust properry or some pert or pucel thereof is situated a notice of dofeult contalninpereto�a�ixl to+othei p eaons as p�reacribedtby
<br /> ehail dso msll coplet of the notice ot def�ult to the Borrower,to each person who is a parcy h s not in any
<br /> npplie�bts law. Not le�s than on� montfi�fto►tM Trustee�ecord�the notice of defeuft or two mo�tlu ff the truat properqr I
<br /> Incorporated city or villApa and It used In farminp operetlona oarried on by the Vuator,the frustee shell pive public notice of sale to the persons
<br /> ' � end In the msnnor prescribed by eppplirsable Isw.T►uatee,without demand on Bonower,ehail sell the property at public auotlon to the hipheat
<br />_ . ,,;�r;, bidda,If required by the Farm Homenead Rotactlon Act.Trustee shsll otfer the propertY In two separate tatee es requirod by appliceble law.
<br /> Trustee m�y poapone sale ot ail or eny pucel of the property by pubtic�nnouncement at the time and plece of eny previoualy scheduled saie.
<br /> Lender or Its desiynee msy purchece the prope►tY�t any aele.
<br /> � Upon receipt of paYment of the price bid,Trustee nhell deliver to the purchaser Truttee'�deed conveylnp the proparty.The raciti�ta contained In
<br /> Truat�e'e deed ehall be prima facle evidience of the uuth af the etetemento containod thorsin.Trusteu e#�an uppiy ihe proceeda of the sale In the
<br /> toilowliW order: (el to all expenaea of the aa�e, includinQ, but not Ilmited to, reeaoneble 7'rustee'a feea, reeaonebte ettorney'a fees end
<br /> reEn�tttement fees;lb)to dl suma secured by thit deed of uuat,end(c)the balance,if eny,to the persont lepally entitied to recelve it.
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<br /> �'�'~" 13_Fondosun.At Lender'e optlon,this deed of truet may be foreclosed In the mennor provide by eppflcabie lew for foreclosuro of mortpapet
<br /> -__._, :,n,.[� .. on�e�i property.
<br /> `_'��_�""�"�lfr '�� 14.Ntp�cdoe•Lender maV entet the prnperty to fnspeot It If Lender gives Borrower nottce foetorehend.The notice muet state the roesoneble
<br />.�+� �..'�a- . cawe tor LendcPs Inspection.
<br />''�''�}� * 16_CondMnnetlnn.Bo►rawsr asslpns to Lender tho proceods of any eward or clalm for dama�ges connacted with s condemnet�on or other t�king
<br />';�;��_ .� oP ell oe�ny peR of tho property.Such p►oeeetie will be app8ed aa provided fn Covenent 1.Thls assignment is QubJeot to the terma of eny prior ���
<br />_ :- - security egre�msnt. _ __ _�
<br /> �ti��ii,;;,,. '$ 16.W�iwr.6y exercicing eny remedY avalieble to Lender,Lender doee not give up any righte to leter uae enY other remedy.By not exercislnp
<br /> -- - eny remedy upon Borrower's defauit,Lender doea not watve eny right to teter co��lder the event e defautt if It heppena egYin.
<br /> �'��•�s•`� . �y�JoMt Ntd S�wni L(�biltty; Co-sipn�rr, Succ�s�a� �nd Asst�� Bound• All dutiee under this deed of trust ere Joint and aeveral. Any
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<br /> ,t•.�,�,:,:' Borrower who caclpna this deed of truet but doet not co•sipn the underlyIng debt instrumentls{ doen �so onty to gront and convey t.at _
<br /> _�r,. - t�•.";�; Do�rowsr'e i�►tereM In the property to the Tmstae under the terms of thta deed of Vuct.In addkion,such a Borrower a0reee thet the Lender end
<br /> . :�r«�+- :: � eny other Borrower under thl�deed of trust may extend,moditv or meko eny otMr changea In the terms of this deed ot trust or the eecuroA - --_
<br /> _- • debt withaut that Borrowar's conaent end without releasing thet Borrower from tM terms of thia deed of tiust. ____
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<br />� � The duUei and benefite o}thia deed of t�un ahall bind end benefft the succeaaore end e�ciyns of Lander and Borrower. �
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<br /> 18.Hotle�.Unlese otherwise roquired by law. any�odce to Borrower shell be piven by deliverinp tt or by meflinq It by cortified mail addreased to __-
<br /> Barrower at the prof�erty addreae ar eny othar eddrett thet Borrower hee piven to Lender.Borrower w:ll pivo eny notice to Lender by certifiod
<br /> m a i l t o L e n d er's eddrtldreis asiteted oin�p pe 1 of t�a dee d o f trus ther eddress whieh Lender hea desipneted.Any other nutice ta Lender ehall
<br /> . '�� n4 to Londer'e . -
<br /> ,•...� be ce � `
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<br /> ' ± Any notice shall be deemed to have been pivsn to Barrower or Lender when glvan In the mennsr statod a6ove. � ,� ,j
<br />_ � 19.Tnmfer of tM P�op�e'ty a�8�tfc1�Intx�st in td�BotrowK.If ell or sny part ot the propertv or eny Interoet In it is eold or uansferred ';�,*;.-�_-
<br /> t witlaut Lend�r'e prior written eoneent, Lender may dem�nd immedlate payment of the secured debt,Le�der mny et:o demend immediete _
<br /> � demendtp'eymeneon theeAb�o io situatiencr f li�s prohlb oti d by federel law as of ttie dote of this deed�ot�trrvnensferred. However, Lender maV not
<br /> 20.A�eonv�y�nc�.When the obllpetion secured by this deed ot trust hes been pald,and Lender has no further oblipation to meke advences
<br /> � : t urader the inat�umente or egreemente eocured by thlt deed of vuat,the Trustee shall,upon written reqibst by the Lender, reconvey the trusi
<br /> `=' .,..,.,...., r►.o�o.,do.■h,u delloer to tfio Borrower, or to 8orrower'a aucceseor in intereet,the trunt deed end tho nota or other evidence oi the �
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<br /> • ohl�etion so e�tisfied.Borrower shall pay eny recordetfon coate. • ,
<br /> 21.6uac�ssa Trwte�. Londor, et Lender's option, mey romove Truatee end eppoint e successor vustee by first, mailinp e copy of tha
<br />- sub�titution of truatee as reqvired by eppllc�ble I�w,end then,by filing the aubstitutfon of uustee 4or rocord in tho oHlce of tha rogister af daode
<br /> � succeed to�ellihe power tdutieseeuthorit�y end titie of the Trustee namede^edhe deed ot trustr a d ot eny�euccoesor�truntee,of the property, ahall
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<br /> � '. -- BAHREFtS 8Y6TEMS.INC..ST.ClOUD.MN 6G301 It-000•397•23411 F0t1M OCP�MTCi�NE 61189�
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