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<br /> " ' ' 1, paym�te. Bortower agrees to make ait paYmeMS on the secured debt �d first to an�emowrta Borerower owes on the sewt d�Qetrt �
<br /> ' � paymertts Lender receives hom Bcrrower or for Borrower's benefit wifl be aD�� Y `
<br /> enttusive ot interest ur priACipel,second to u�t6resi,and then to princltoa�,•ff partial prepaymertt of the soaued debt occurs for any reason,it�nn"il � ``� •'
<br /> � , _ not reduce or excuse anV scheduted payment untii dm�ecured debt is pa�d m fulL . �' .
<br /> � .? 2,qaimy pgainst!'ii{i��ouoWAR vaHS p�y�l taxea�assessments,and otfier charges ariributabte to the proAertY�Bn due and wiii defend titte
<br /> � to the propertya�ej�ef►Y�e�����d:imPatr the lien of this deed of trust.Lender may r¢quire Bortower to ess�gn anY ri8hta,claims or
<br /> detenses which Bdrrawer at�lthPv�a�ainst parUa,s�,vyhb suppiy tabor or materiats to improva or mamtam the praperty �
<br /> 3,(nstaan�e, Bortawer�nn11 keep tlia property insured under terms acceptabfe to Lertder at 8ortowels expense and for Lender's heaefit.AII , ,
<br /> insurance poiieies shall inctude a standard mortgage clause in favor at Lender.Le�der will be named as loss payee or as the insured on any sueh ,
<br /> - o tor�Ute�se��.ur�ed bL li t�Lend re�equ�"ues mortgage�npsurdance�.Bo ower agreesc to maiMain�sucA insuran¢e icr as long as LenedereQu'ves���� � . ` `. �
<br /> � � - ` � q,proyacty.Bonower will keep the property in gaod conditioa and make aU repa'us reasa�aDty necessary. " ` '
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<br /> � � . � 5.�es.Bonower agrees to paY aii Lender'a eapenses.including reasonabie attorneys'fees.if Borrower 6reaks any covenants in this desd ; _
<br /> , _ � _ of uust or in any obligation seaued by this deed of trust Borrower wifi pay these emourrts to Leoder as provided in Covenant 9 of this deed of (
<br /> . bvst �.Y-_
<br /> � ` � ; 6.Pdm SeairftY I�resta Untess Borrower tirst obtains Lender's writtan consent,Borrower wiil not make or permit any chan9as to any prior
<br /> - . . Se��y m��e�ts,gorto�yer ynl�pertptm alt of Bor►oweYs obligations under any prio�mortgage, deed of trust or other ascurity agreemenL Y
<br /> \ . ,� indudmg Ba►rower's covenarts to make paymer�when due. , .
<br /> �: • .
<br /> ! ?.ps�gnmor�t of gepts and Profits.Bortower assigns to Lender tt�e rems and profits of the property.Untess Bortower and Lender have agreed ,
<br /> otherwise m writing,Borrower may coltect and retain the rertts as long as Borrower ia not in default.if Borrower defautts,lender,Lendar's
<br />::� ' �,� agert,or a caurt appouned receiver ma'/take possession and manage the property and caliect ths rents.Any rents Lender coilects shali be
<br /> . . .I 8PDIied�rst to the costs of managin�the property, induding court eosts and��on Ufiea s��ea�uemd d bt as�rovided�insCov�enarrt 1ar►y other ',
<br /> n e c e s s az Y r e l a t e d e�enses.'fhe remam�ng amount af rerrts will then apDty to pa}Im :``
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<br /> g.1eacshalds•CandomfnLuna:Piannad Unft DevaloymeMs-Bcrrower agrees w compIV witA xhs provisions of aml lease if this Aeed of mut is on .-_�
<br /> a leasefiotd.lf this deed of trust is on a unit in a condominium or a planned unit devetopment,Bonower wiil perfortn ail of Bortower's duties
<br /> � under the covenarrts,bydaws,or regulatfons of the condomirrium or planned unit developmerrt. _ _•,�_'��'
<br /> g,A�m�ry of Lendsr to peiform far Bocrowrer.tf Barrower faiis to perform amr of Barrowe�s dWes imder this deed of trust, Lender may .
<br /> ' pertorm tise duties or cause them to 6e performed.Lender may sign Barcowers name or pay aml amount if necessary far Performance.If arry __
<br /> `% • constructian on the pmyerty is discorrtinued ar not carried on in a reasonable manner,Lender may do whatever is necessary to protect L.enders _
<br /> `r . . security interest in the properry.This may h+dude completing the construcrion. . --
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<br /> �4 � Lender's failure to perform will not precluQe Lender from exercising any of ita other rights under the!aw or this deed of trust. � .= s'-=:�
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<br /> qr►y amoums paid by Lender to protect Lender's sewrity irtteresi v�n'�be secured by this deed of trust.Such amourtts will bs due on demand �as��:
<br /> "�� and wiil bear iMerest from the date of the payment unbl paid in full at the irrterest rate in effect on the ascured debL ---- „�
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<br /> ',i 10.�efatdt end Acceteration. If Bcrtower faita to make any paymecrt when due or breaka smy covenarrts under this deed of vust or any d� _�:-.
<br /> �i ' Qem�d immed ate paymerrt e d may in oke the p wer of s�ate and areiye ot�here med es Dermittyed by apph'cab e law�oi the secured de6t and
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<br /> � - • ' �'�� 71.Requast for NoSce af Oetaut4 1t is hereby requesced thet coPies of the notices of default and sale be sem to each person who is a party � �� ��.�=�_
<br /> � hereto,at the address of each such person,as set torth herein. .
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<br /> `�`} 12.Powe►of S�a.If the Lender invokes the power of sate,the Trustee shalt first record in the o�ce ot ffie register of deeds of eaeA county :.` �'_m.•
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<br /> - '� wherein the uust property or some part or parcel thereof is situatad a notice of dafault contaiNng the infortnation required by taw.The Trustee :-.',�:�,, ��:��..
<br /> ' sheil aiso mail coAies of the aotice of Cefauk to the Bortower,to eact►person who is a paRy hereto,and to other persons aa pges�be a�Y . ._�►�+_':;.
<br />•`�i � applicabta taw.Not tess than one month aftar the Trustee records the ooUce of QefauIt,or two mortths if the trust pto06nY i Y '. ^`_'z;==
<br /> �;;�.�;� jncorporated c�y or vifiage end is used in tarming operaUons carrled on by the trustor,the Trwtee shall give public noUee of sate to tS�e persons 't.; ++�:�-__:..
<br /> � and in the manner prestxi6ed by�appAlicahle Iaw.Trustee,without demand on Bortower,shall sell the propaRV at pubRc auctioa m�'�`��ble�taw �
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<br /> � ��� ' , bidQer.Ii required by the Farm Homestead Protection Act,Trastee shall oHer the property in two separete safes as required by app' a
<br /> 7rustee may postpone sate of s0 or any parcel of the property by public announcement at the Ume and ptace of any previously scheduted eai9. -��
<br /> -' � . Lender or ita desi8nes may Durchase the propeny at any sate. �`,�L'��
<br /> '� Upon receipt of paymertt of the p�ice bid,Tructee ahait defivar to the purchaser?rustae's deed comreYing the property.The recitials corKeined in '���'±"� -
<br /> .. � Trunee s deed shali be prima facie evld'�ence of the truth of the statements contained therein.Tnistee ehall apply the proeeeds of the sate in the _ , .._'��
<br /> � fotlowing order. 4a1 to alt expenses of the sata, iaGudinB, but not limrted to, raasonable Trustea's tees, reasona6�e attomey/s fees and .'•�•."�;�"•'��,
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<br /> • '� reinstatemer►t fees;(b)to all sums secured by thts deed of trust,and(cl the baiance,(f any,to the persons Iegaily entitled to recetve n. !�:::.- ,��-
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<br /> � � . 13.Foreclosure.At Lender's opUon,this deed of Vust may be forectosed in the manner provide by appiicabte�aw tor toreclosure of mortgagea :,,>.�,T_
<br /> .- . on real property. � � `,r.`,^
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<br /> 14.tnsyeedan.Lende►may enter the property to inspoct it if Lender givea Bortower notice beforehand.The notica must state the reasonable ,',��.
<br /> - ' _ _ cause for Lender's inspecUon. , ' �_
<br />._,ti •,•�r:4,:t�����..
<br /> .,� 1b.Condemnatlon.Bortower assig ucA proceedahwill�b�e applied es provi ed i��Cov nar►tet aThis essignment ia s b ecK tortthe terms of any prlo9 .�`�%'�%•`°_��
<br /> f, . of all or any paR of tfie property.S •`�'�`�
<br /> < sewrity agreement. , ����'"
<br /> ' any remedy uponxBorrowersydetaulf,Lender does not wa ve eny rlght to I ta egconsider ihe evte i a�defa 1t rf tt hay�ns gei���not exercising . :!,
<br /> .�'.. 17.Jotat and Several UaD , Caslgncro; Suceessore and Asaigns Baund. All duties under this deed of truat are joint and soveral. Any . . � '�
<br /> 8oaower wha casigns this�eed of trust but does not co-sign the underiying debt instrumertt(s)doea so oniy to gtant and convey that � . "
<br /> ^',5_ Borcower's i�terest in the property to the Trustee unQer the terms of this deed of trust.In addiUan,such a Bortower egrees that th0 Lender and ,
<br /> any other Borrower under thia deed of trust may extend,mod i f v or make any other changea tn the terms of this deed of uust or the secured
<br /> • debt with�ut that Bonower's consent and witfiout releasing that�ortowet irom the terms of this deed of trust. .
<br /> • The duties and benefita of thia deed oi uust ahall bind and benefit the successora and assigns of Lender and Borrower.
<br /> � I � 18.No�eo.Untess otherwise required by law,any notice to Borrower ahali be gWen by deli+�ering it or by,mailing it by ce►tified mail addressed to �;�.,: '
<br /> � Borrower et the property addreas or any other addresa that Bot►ower has given to LenQer.Borrower will give any notice to Lender by certifieA .
<br /> - � mail to Lender's address on page 1 ot thia dead of trust,or to any other address which Lender has designated.Any other notice to LenCer shall
<br /> � be sent to Lender's addresa ae stated on page 1 of this deed of trust. � •
<br /> Any notice shail be deemeA to have been given to Borrower or Lendor when given in the manner stated above. . .
<br /> . 19.Trenste�of the�+oparty or o Beneflelol lnterost�n tho Bortowe�.11 ail or any pan ot the proporri or any intetest in it 1s soid or vansterred . �
<br /> �,';:� • � ' without LenQer's prior written consent, Lender may demand immediate payment of the secuted debt. Lender may also demand immadiate . , •
<br /> � payment ii the Borrower is not a natural petson and a 6enefieia!intereat in the Borrower is sotd or trensferred. However, Lender may not
<br /> , demand payment in the above situatlons if it is profii6ited by federal law as of the date of this deed of trust. . .
<br /> � 20.Reconveyance.When the obligat�on sacured by this deed of trust has been paid,and Lender has no further obtigation to make advances
<br /> ��' � undet the insbume�ts or agreementa aecured by this daed of trust,the Ttustoe st+ail,upon written request by tho Londar,retonvey the Vust .
<br /> - ' property.The Lender shall detiver to tho Bonower,or to Borrower's suecessor in interest,the Vust deed and the note or other evidonce of the .
<br /> ' ,- o�hgation so eatisfisd.Borrower shall pay any recordatlon coata.
<br /> ' ' 21. Succassor Trustee. Lender, at Lender's option, maV remove Trustee and appoint a successor bustes by first, mailing e copy of the �
<br /> substitutlon of trustee as repuired by appllcable law,and then,by fiting tho substitution o}trustee for record in the oNice of the register of deeds
<br /> ' ' o}oach eounty in which the trust property,ar some part thereof,is situated.Tho successor trustee,without conveyance ot the property,shall ,
<br /> • � • � succeed to all the power,duties,authorlty and titlb ot the Trustee named in the deed of trust and ot any succeasor trustee. .
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<br /> OANKEfiS SYSTEMS.INC-,ST CIOUD.MN 58301 i1 800�97 2307�iORM OCP MTC}NE 8/19/91
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