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<br /> �� �i 1. PaymorKa. Bortower agrees to meke all paymerrts on the secured deDt when dua Untass Bo ower and Lender agree utherwise, anY -
<br /> � paymerAS Lender receives irom 8orrower or for Borrowafs Eenefit wiil be appiied first m a�/emourns Bortower owes on the secured debt � f.,
<br /> " �� exctusive of i�nerest or prindpal,second to in4erest,en4 then to PrirpAa�•�f Dartia�Drepayment ot ths seared debt occius tor any reason,it wdi . • ,
<br /> ' :{ noi reQuee or exta�e azry scheduted paymeM u�til tha s8eured debt is Daid in full. ,"'' '
<br />_.. . . . .i �t . � �•. :
<br /> I y(Yaima AgaInat e.BoRpwQ r an�l p�y��a6 taues,ass�ssments,and other charges attr�b+rtabte to the property when due and wi0 Qefend tide
<br /> ` ° � 'i ta the proparty a stn}t�aiN1syyh1cA�emutd irpp3Tr tre lien af this deed of uust.Lender may requ(re Bonower to assign erry righta,daims or ' � �
<br /> � . �� detenses wtu�eb�er may havb agairfst'parGes whotsuAP�V��or or matariais to improve ar maintein the property. : , �
<br /> - �.�'n•'i��t-•:.:c.'.e L�,..:• `
<br /> c " '' 3.6�u�tce. garroaret yinfl�aep-tha pwpetty�dLnder terms acoeptable to Lender at Bortower's expanse a�d tur Le+�der's 6enefit.All .. Y.
<br /> ' � insurance poGcies ehelt iaclede a standard mortgage dauae in tavor of Lender.lender uvill 6e named as tass payee or as the insured on arry such y. � f z
<br /> `- - • ins�uanee poGcy.An insurance proeeeds maY 6e apptied,within Lenders disuetion,m either the restoration or repav ot the damaged property - ,
<br />� `. , or to ihe secured Ce�If Lender requires mortgage�nsuranee,Borrower agrees to mai�ein such insurance for as[ong as Leader�equires. ' . . '
<br /> • ' `-c- 4.Prayarly.Bonower will keep tne properry in good condition and make ail repairs reasonably neeessary. , ' ,
<br /> • - • b.6cpenses.Bortower agrees to pay ail Lender's expenses,inGu�ng reasonahte attomeys'fees,if Bonower breaks any covenams in this deed , ,. • .._r_
<br /> ''`� of Uust or in any obligatton secured by this Qeed of trust.Bortower will pay these amouttts to Lender as provided in CoverLant 9 of this deed of � , �
<br /> �-- -- - c:--t tIUSt, -- .- ..
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<br /> �<` � B.Pdm Seeurky tMmasta.Un►ess Bortower fust obtains Lenders written eonsent,Bortower wiil not make or permft arry changes to arry prior . . .
<br /> $�., � `j security interests. Borrower will pertorm atl of BoROwers obGgations under any prior mortgage, deed of Uust or other security agreemerrt,
<br /> _ . inctu�ng Borrowefs eovenants to make paymems when due. . � .
<br />':;p '_ ` ..� 7,psatgnmertt of Rertts a�Rtafita.Borrower assigns to Lender the rertts and profits of the property.Unless Borrower and Lender have agreed _ _ Y ;
<br /> 1 otherw+se in writing, Borrower may caHect and retain the rents as tong as Borrower is not in defauk.If Borrowar defaults,Lender, Le�de�s
<br /> a g ertt,ar a court appoiMed recetvar may take possession and manage the property and caUect the rerrts.Arry rer�s LenQer collects shail be
<br />- � appGed fitst to the costs of managtng t ha propertY,inc(udin�court costs and attomeys'fees,cammissions w remal agerrcs, and any other
<br />;�; ` '. . necessary retated eapenses.The rema[ning emourt of rents vui 1 then aD9fY�DaYmertts on the secured Aebt as previded'm Covenant 1. .:` `�..
<br /> i: ' • " &Leosaholds•Cand�ttuna-Pimmed llnft Devdopmet�te;Bonower agrees to oomply with the provisians af any tease if this deed of Vust Is on ' +�• .' f� ��"`w.
<br />�:i_ - � , a leasefioid.If dsis deed of mist is on a unit in a candommium or a planned unit development,Bartower will perfortn all of Borrower's dudes : • --
<br /> under the covenartts,by-taws,or reguistions af the condomtnium or plaoned unit davetopmertt �� �`'r
<br /> f. —
<br />�F�: _ , 8.p�tyxity o}�Q�to per(p:m tor Borm9r�. If Barrowet fai►s tope rfortn any of Borrowe�s du[ies under this deed of trust, Lender may - _
<br /> � . pertortn the duUes or cause them to be perfarcned.Lender may sign Borrowefs name or pay any amouM if necessary for perfortnance.ff any -
<br /> constructlon on the prope►ty is discantinued or not carried on in a reasonabte manner,Lender may do whatever is necessary to ptotect Lender's � _
<br /> • � secuitty interest in ffie property.This may indude compieting the consbuction. � _-
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<br /> � Lender's failure to peRortn wift not prectude Lender from exercising any of its otfier rigMe under the taw or this deed of trust. , ' �-
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<br /> �.`� ' '' ' � Any emounts paid by Lender to protect Lendars seeurity inLarest v�n'�be seeured by this deed of Vust Such amonrrta�nnll be due on demand �• . ;�-=i<.�_
<br /> '� ' and will bear interest from the date of the payment umii paid in fufl at the ioterest rate in eftect on fhe seared ctabt. -- . . ,.�?r:-�--
<br /> • 10.Defautt and AtceleraUan. If Bortower fails to make arry payment whan due or breaks anyr covenarrts under this deed of trust ar eny , , ;p;;:��
<br /> • obligaUon secured by fhis deed of trust or any prior mortgage or deed of trusi,Lender may acceterate the maturity of the sequed debt and '' `4-�:���-;�-
<br /> ; � demand immediate paymeM and may invoke ihe pawer of sate and any other remedies permitted by appficabte law. ° .+�• .4�:•_:''`'�
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<br /> . 11.Requeat ior rtedee of Detault.k ia hereby requested that copies ot the�otices of detauit and sata ba sent tn eaeh person who is a party , ���--�-=
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<br /> <;.� ' hereto,at the address ai eaeb such person,as set forth herein. • %.'-�
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<br /> 72.Pow�o�Sa1e.►f ffie Le�der invakes the power ot sete,the Trustee sfiaU first record in the office of the register of deads of each county . ,. y.�.:r-
<br /> � wherein the Rusi property or some patt or pareel thereof is situated a notice of defauft corrtaining the informatio�required by law.The Trustes '� �
<br /> shatl atso mad copies of the notice of defautt to tha Borrowar,to each person who is a party hereto,and to other persons as prescxbed by � ''�rt�?'TF
<br /> ,', appticabte taw.Not tess than one morrth after the Trustea reeords the aotice of defauft,or two momhs if Ne trust praperty is nat fi any ' :c��=?��-
<br /> ineorporated city or viliage and is used in fartnirtg operations carried on by the truatar,the Trustee sha11 give pubtic notice of sate to the persons � . '�'•_�
<br />�'";%.' � ��� �,� and in the manner prescribed bY�apppiicable taw.Trustee,wlthaut Qemand on Banower,shail sell the property at public sueuon to the highest '" ';.� '�: ��.w,_
<br /> �':, bidder.If required by the Fatm Homestead Protection Ac4 Trustee shall oHe►the property In two separate sates as requfre0 by app�p6te law. . i ,� _-°
<br /> Trustee may postpone sale of afl or any parcel of the property by pubtic announcemerrt at the time and piace af any prevtousiy schaduted sate. . ; y:-
<br /> � Lender or its designee may purchase the property at amr sate. -=
<br /> " ' � Upon receipt of payment of the price bid,Trustee shall deliver ta the purchaser Tnistee's deed eonveying the property.The rec(tiats contained in �"i`.-.{`t--`=�'
<br /> Trustee's deed shail be Drima facle evidlence of the truth of the atatemeMS cornained therein.Trustee shall appty the procee�s ot the saie in tfie :��';�pr,
<br /> . u' - foflowing order. !a) to afi expenses ot ttte sate, instuding, but not limfted to, reasonebie Trustee's fees, reasonabte attorney's teea and __..-.
<br /> .. . reinstatement fees;lb)to ail sums secured by thfs deed of trust,and(c)the batance,if any,m the persons tegalty entitled to recetva h. , '�,�_:
<br /> `• ` �; 13.Foredoswa.At LgnQer's option,thia deed of trust may be toreclosed in the manner provide by appiicabte law tor foreciosure of martgages . "�`
<br /> . • •� on reai property- , . . ; ��:;�;
<br /> ' •``� 14.(nspectton.Leader may enter the property to inspect it if Lender gives Borrower notice beforehand.The notice must state the reasonabie .� ' � � "`''
<br /> • Ceuse for Lender's inspecdon. - . '`�
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<br /> 16.Condemnatton.Bonower assigna to Lender the�roceeds of any awarA or claim Tor damages connected with a condemnaUon or otfier taking —
<br /> ' � of all or any part ot the property.Such proceeds wi I be applia0 as ptovided in Covenant 1.This assignment is subject Lo the terms of eny prior . -_
<br /> sewrRS►a�eement � _ _-_
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<br /> � • - 18.Waivor.By exerdsing any remedv available to Lender,Lender does not eive up any rights to iater use nny other remedy.By not exercising , �.;,,,�,:
<br /> any remedy upon Bortower's Qefault,Lender does not waive any right to later cons�der the event a defauft if it happens again. ,. . •:,•-
<br /> 17.Johit end Seyeref L1aDi(ity, Co-signere; Sucessaors and Aasigns Bound. All dutlea under this deed of trust are joirn and several. Any �°
<br /> . Bottower who co-signa this deed of trust but doea not co-sign tAe unQertyYng deht instrumentts) Qoes so only to grant and convey that �
<br /> - Bonower's interest in the property to the Trustee under the terms of this deetl of trust.In addition,suct�a Borrower agrees that the Lender and •
<br /> �•a � any other Bonower under thia deed of trust may extand,modify or make any othe►changes in the terms o1 this deed of trust or the secured , ' '
<br /> • � ' debt without that Bonower's consent end without reteasing that Bonower hom the terms oi tti�s deed of trust. •
<br /> • . The duties and benefita of this deed of trust ahall bind and benefit the successora and asaigns of Lender end Borrowet. �
<br /> ' 18.NoBco.Unlesa otherwlse required by�aw,any notiee to Borcower shall be given by deliverl�g it or by maiting it by certifled mail addressed to .
<br /> , � Borrower at the propetty address or any other add►asa that Bonower has given to Lendar.Borrower w�ll give any notice to Lender by certified �
<br /> � mail to Lende�'s address on page 1 0}thia deed of uust,or to any ather address which Lender has designated.Any other notice to LenCer shafl
<br /> , be sent to Lender's address as stated on page t of this deed of vust.
<br /> . . � Any notice shatl be deemed to have been gtven to Borrower or Lendet when given in the manner stated above. � . .
<br /> ' > � � 19.Transfar of tho Proporty or a BeneflNal Interea!in ffie Bonower.�f ail or any part of the prapeny ot any interest in it ia soid or uansferred _ �
<br /> . . � without Lender's prior written consent, Lender may demand immediate payment of the secured debt. Lender may atso demand immediate � .
<br /> � payment if the Borrower Is not a natural petson and a beneticial interest in the Borrower is sofd or bansferred. However, Lender may not . �
<br /> demand paymertt in the ebove situations if it is prohibited by federal taw as of the date of this deed of trust. �
<br /> �•, 20.Reeamreyaneo.When the obiigation secured by this deod of uust hae boon paid,and Londer has na tunher ob8pation to make advances ' �
<br /> � � under the instruments or agreementa secured by thie deed of trust,the 7rustee ahail,upon written request by the Lender,reconvey the trust , �
<br /> . property.The Lender ahall deUvet to the Borrower,or to Bonower's successo�ia irtterest,the trust deed and the note or other evidenw of the '
<br /> � oDtigation so eatisfied.Borrower shatl pay any recardation costs. . '
<br /> ' 21. Succo�so� Truatoo. Londer, at Lender's option, may remove Trustee and appoint a successor trustee by flrst, maiting a copy o} the
<br /> i substitution ot bustee as requited by appOCable law,and then,by filing the substitution of trustee for record in the oiHce of the register o}deeds
<br /> ,:�. � of each county in which tha trust property,or some part thereof,is situated.The successor trustea,without conveyance of the property,shall
<br /> ,t� ' • succeed to atl the power,dutlos,authority and titte of the 7rustee named in the deed of trust and of any successot trustee.
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<br /> ' ' � BANKEAS SYSTEMS.INC.ST CLOUD.MN 66301 Il 800-397 43411 iOHM OCP MT(iNE 6119/91 �
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