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<br /> GOVENANTS �sy ��1���
<br /> 1, p�ymt�nt�. Oorrowsr aprees to make ell paymonte on tho aocurod dobt wlion duo. Unloao �orrower ond�l.ondor opraa othorwleo, any
<br /> �� paymente Lender roceivea from Oorrower or for Borro�ve►'e heneflt wfil be epplled flret to eny nmounn Borrower owei on the eeautod debt
<br /> not reduce oi excuie any��ocheduled piyment until ths�tecured debt lil psld In fuljal prepeyment of the secured debt ocaun for eny reaeon, It wlll
<br /> T. CiNrn�Ayalnst T(tl�.Borcower witl pey ell taxe�,atteasments, �nd other cherpe�attributable to the praperty when dua and wlil defend tltie
<br /> • ' to the property ay�imt my clalma whlch would Impdr th�I:en o}thl�deed o}tru�t.Lender may requlre Borrowe�to esslpn�ny riphtr,clafmo or
<br /> I de4eraos which 9orrower may hava ap�lnat p�rtie�who supply I�bor or materlela to Improve or mNntNn the property. .
<br /> 3. In�unnc�. Borrower will keep tho proporty In�urod undor tnrmo eccopteble to Lender et Borrower'e expense end la Lender'�benefit, All
<br /> Inaurance paticiea ehail Include a etend�rd mortqape cl�ute In favor o}Lender.Lender wlil be nemed ea loas payse or ss tM Intured on any wch
<br /> Insurance palicy.Any Inaurence proceed� m�y be epplled, wlthln Lender'�discretlon,to either the restoation or repelr ol the dem�ped property „��
<br /> or to the eecured debt.If Lende►requlre�mortgsge Insurance,Borrower�prese to mafntaln such imunnce for�r long a�Under requl�ee. ..-
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<br /> 4.Prop�rty.Borrower wlll koep the p►operty In pood condition and make all repelro res�onebly neceesery. ��,�g,"
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<br /> ,� 6.Exp�ns�s.8orrower agrees to pay ell Lender's expenfem Inciudinp reasonabte ettorneya' feea,if Borrower breake any eovensnte In thie deed .;;__
<br /> of truet or In any obllgetlan securod by this deed o}truet. �arrower wfll pay these emouMS to Lender ea provided In Covonent 0 of thie doed of �,_;
<br /> . � truet. . � --=—
<br /> 8ocu�rityS tne�iea afnBonsower�wftl per�form ellf�oftBorrowerLe oblipatlana under eny prloramortpage�deed of truetror�other Heculty epaeemer^o�r � °�-
<br /> Includinp Borrower's covonantc to meke payments when due. --
<br /> ' 7.AuiDnm�nt�f R�nts md FroftU.Borrower aselyna to Lendor the rente and profite of the property. Unlese Borrowor end Lender have agreed =
<br /> otherwiae In writing, Borrower mey collect and retain the ronta as long as Borrower la not In default. If Borrower defautts,Lender, Lender'n _n
<br /> agent, or a court appointed receivar may teke poaseaslon end menage the proparty end collect the rentn.Any rents Lender coliects shell bo -_
<br /> applied firet to the ooste of manaping tha property, In�ludlng court costs and ettorneye' tees, commlastone to rental agents, and any other ��
<br /> neaeasary rolatod oxponcea Tho romalnlnfl emount of rente will thon apply to paymanu on tho cocured dobt a�providod in Covsnant 1. ���-:
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<br /> 8.UuN�oldsj Cca�dorninfum�;Pl�d Unk O�vMopm�nts.Borrower s9roes to compty with the proviefons of any leese if this deed of fruet la on ' t,,,Y�--
<br /> • under the�co�enants by lewi or repuletione�of the condom nlium or plenned un(t devaloprentnt, Borrower will perform�q of Borrower's dutiea
<br /> 9. Authority of L�nd�r to P�rfonn ta Borrow�r. If Borrower falla to perform any of Borrower's dutiea under thls deed of trust, Lender may
<br /> � perfarm the dutles or caute them to be pertormed.Lender may eipn Borrower's neme or psy eny amount If neceseary tor performence. If eny
<br /> conatruation on the property la dbcontinued or not aarrled on in e reesoneble menner,Lender msy do whatever ia necesauy to proteat Lender'e -
<br /> security interoat in the property.Thle may include completi�p the constructton. _-_
<br /> �� Lender's fallure to perform will not preclude Lender 6om exercieing any of ite othor riphte unde►the law or this deed of trust. ,
<br /> .��,s„ antl w II bear6inte�re tYfrom thetdate of tha payment until pa dtin fu 1 eti t hintereat�rate in�effect on tho eecuf ed debt unta wiil be due on demend
<br /> �• 10. D�fwtt�nd AecN�r�tlon. If Borrower feits to meke eny payment when due or breeke any covenenta under thla deed ot trust or any
<br /> obtigetion secured by thl�deed of truit or any prior mo►tge�n or deed of truat, Lender may eceelerote the msturity of the seaured debt and _
<br /> � � demand immedinta peyment end msy invoke the power of enle end any other remediea permitted by epplicable law. ��-
<br /> � 11.R�qu��t for NoUa�of D�fauit.It Ia hereby requested thet copies of the notices of defa�it end eele be eent to esah persan who�a a party a. �
<br />� hereto,st the addrosc of eech such penon,as set forth herein. [;
<br />- 12.powar of Sr�.If the Lendflr Invokeo the power ot sato,the Truatee shall flrst record fn the office of the regiater of deeds of sach county �` ,
<br /> whereln the truat property or eome part or parcei thereof i3 aitueted e notice of defauft contalnlnp the Intormatton required by Isw.The Truatee
<br /> • ahall al�o mell copiea of the notice of detault to the Borrower,to each peraon who is a party heroto,end to other persona aa preacribed by ��•�
<br /> appllaeble law. Not lese then one month efter the Truatee recorda the notice of default or two montha if the trust property la not in any -
<br /> Incorponted city or viilap�and la uted In tarming operattona cerrlad on by the trustor,ths frustee ehall givo pubitc notice of tele to the persons —
<br /> =:;��" and in the menner prescribed by appplicab1e law.Truatee, without demand on Borrower,shall Rell the propeny et public euctlon to the hipheat
<br /> ' ' ' bidder.If required by the Ferm Homestead Protectlon Aot, Trustee ehail oNer the property in two aeparate aalea ae requlred by applioable lew.
<br /> Tra�teo may postpons eele of ali or any parcel ot the property by pubifo announcement at the time end plecs of any prevloudy scMduled tde.
<br />= Lender or k�desipnee m�y purchase the prope►ty st any sate.
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<br /> s,:.. ,. ,. � Upon recafpt of p�Vmont of the price bld,Trustee shall deliver to the purchASer Truatee's deed conveyinp the property. The recltiaie cont�tned in
<br />- ' T►uatse'�tleed sh�ll be prims fecie evldience of the truth of the�tetemente contained tharein.Tru�tee�hall eppiy the prac�ed�of the tsl�in the
<br /> ' � , folbwlnp ordsr: (a) to eil expen�es of the �ete, Inciuding, but not Ilmited to, reaROnabie Trwtes'� feet, �ee�onabk attorney's fees end
<br />��•' •: .,s ",� roimtatemmt feer,Ib)to sU�um��ecured�y this deed of trust,and(c)the batance,if eny,to the peraons lefleily entitiedto receive it.
<br />_�1°" �- � 73.Fonciowr�.At Lender'e option,thla deed of truit may be forocloaed in the monner provide by applfcebie lew(or taeclosuro of mortyayea ��_,
<br /> s,;.,--?-. • •- ' on real property.
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<br />�"'-~�'"•"�;'��"`� �' 14.M�p�ctlon. Lender may enter tho properry to Inapect it ff Lender givoa Borrower notice beforehand.The natice muat atete the reasonebte -
<br /> "�'�3��` causs for Lendsr'�inspection. -"
<br /> -----�'• ' 16.Cond�tr�nNlon.B9rrower aseipna to Lender the proceeda of eny ewerd or clalm for dame ea connectod wtth a condemnatlon or other tekinp _
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<br /> =Yw�w• .._.: of NI or eny Aart of the property.Such proceeds wlll be epplied es provided In Covenant 1. is aeslgnment la eubJect to the terme of eny prior
<br /> -,; .'�' security epreement• F"- ----_— __
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<br /> 14.Wdv�r.By exerCfairp any remedy avallable to Lender,Lender doea not pfve u�eny right�to Iater use any p�n�epal�Y�BY not exsrcialnp =---
<br />�.�"�"•F:`��� eny romedy upon Borrower'o defautt,Lender does not weive any right to Ieter cona der the event e dafeult if ft ha - -
<br /> - �r 17. Jolnt�nd 9�vef1 LI��y, Co-sipn�rs; Succusoro and Assipns Bound. All dutiea und9r this deed of truat ere�oint and sevorai. Any -`._
<br /> �, 'w �� Borrower who casiyna this deed of Vuat but doee not co-aipn the undorlylnp debt Inatrument(e) doee so only to prem and convay that
<br /> �,�'. Borrower'�interest In the property to the Trwtes under the terms of this deed of truat.In add(tlon,such a Borrower vBreeo thet tho Lender and �'�
<br /> .� eny othe►Borrower under thia deed of truet may extend, modfPv nr make eny other chanyea in the terme of thfs deed of truat or tho secured �'•i°
<br /> '�`�'�}���""�� debt without that Borrower'�consent�nd without rotetcinp that Borrower hom the terma of thi�desd ot truat.
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<br /> -''=tr•- � ; Tfie dutlea and beneflta of thla deed of trust ehail bind end benefit the succeseors and esalgns of Le�der and Borrower. --�
<br /> 18.Notic�.Unleas otherwise requlred by Iew,any notice to Borrower ahatl be given by delivednp it or by melling it by cerUfied meil nddressad to __-_--.
<br /> Borrower et the property sddress or enV other addrea�that Borrower hes piven to Lender. Borrower will pive any notiu to Lender by cortified =-- __
<br /> mell to Lender'n addresa on pags 1 of thia deed ot tro4t,or to eny oUier nddreas which Lender hae desigoeted. Any other notice to Lend9r ehall "'"�"' =._
<br /> be eent to Lender's addrosa ee eteted on pape 1 ot thia deed of Vust. "`r'�"`_
<br /> Any notice ehall be deomed to have been pfven to Borrower or Lender when Qiven in the manner stated ebove. - - ---
<br /> 79.Transf�r of tM Propety or a B�mllciai Irt[�n�t In tA�Borrow�r.It ell or eny pert of the property or any Interost In it fa coid or tronsferrnd ��.,;ia:��� -
<br /> without Lender's prior written r.onsent, Lender may demand Immediate peyment of the secured deht. Lender may also demand immedleto �-_-��;=-
<br /> ° , payment tf the 8orrower is not e netural person and e bene8clal Interest fn the Borrower le sold or tranaferrod. However, Lender may not • � •'�'-�s�a.
<br /> demend peyment in the ebove sttuatlons.if It la prohibited by fedoral law as of the date of this deed ot truat .. ,�rx�;:
<br /> 20.R�conv�yana.When the obilgatlon secured by thlo deed of trust has baen peEd end Lender has no further obtigation to mako edvances ,
<br /> � , under the instrumente or a reemente secured by thia deed of trust,tho Truatee ohalf upon written request by the Londor,reconvey tho Uust '-' . •' �
<br /> --�_ ............ Tw�...,�...�,on�.u,...r��n. anrrnwar.nr m�orrower's succeesor in InterosL the trust deed end the noto a other ovidence of the _____
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<br /> • obl�etion so setfsfied.Borrower shaU pay any rocordation costs. ` T- `
<br /> 21. Succ�uor Ttu�t��. Londer, et Londer's option, may romove Truateo and appolnt a succossor trustee by first,matling a copy of the
<br /> — • substftutfon of truaiee es requlred by applicable law,end then,by fiiin�the substitution of trustee tor record in the office of tho regiater of deeds �
<br /> � of`ench county In whfch the trust proparty,or eomo pert thoreof, fa s tuated.The euccessor trustee,wfthout conveyenee of the proporty,shail .
<br /> eucceed to ell the powor,dutioa,authority end title of the Tnistoe nemed In the deed of truat end of nny succoesor trustee. •
<br /> � . fP+Bs 2 0/71
<br /> ' B/IHKERS SYBTEMS,INC..ST.CLOUD.MN 66301 11-EW797•2]�11!-0AM OCPdAT4-NE 6/7991 . '
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