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<br /> COVENANYB �7.� 1U13�66 �
<br /> 1. Peyrnente. �orrower aprees to mal:o a!I peyments on tho socured debt when due. Untese 9orrowor end Lendar uproa otherwlae, eny „
<br /> exc utive�ofintoreet or�princ�Dal eecond to/ntereet�end then to printc pal.11 pertlell pra�payment�of the secu ed debt ocCUre fo�eny roaeon,di dobi ,
<br /> , not reduce or excuto any scMduled payment untll the necured dobt I�pald In fuil.
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<br /> �. CI�M�Ap�n�t fli��,Borrower wfll pay�II tsxei,a�aet�msnt�, md other cherpes�ttributsbte to the propeny when due end wlll de}end titla
<br /> to the proportv ap�in�t�ny cl�im�which woutu impalr th Ilen ot thlf deed o1 Yru1t. Lendor mey requlre Botrower to eaelgn eny riphte,cielma or
<br /> , dsfente�which Porrowu mry h�w+�pNnst partle�v���ppiy lebor or m�terlal�to Improve or malnteln the praDertY.
<br /> 3. Inlur�nc�. Oorrower will keep the propeity InaurAd u der terme accepteblo to Lender et Borrower'e expenle end for Lendcr'e benetit. AII
<br /> � insurence poficleo�hell Inelude e 4tandard rnartaoflo clauae in favor of Lendor.londct wIU bo namod an lo�n payoo or ao tho in�urod on nny nuch
<br /> � Insurmce pollay.Any In�unnce prooeed�mey be epplled,within Lender'�dlscrntlon,to elther the rettarstlon or repalr o}the demeped property
<br /> or to the�ecund dabt.If Lender iequlrei mortpsge Inturence,Elor►ower eprees to malnt�in such Iniurance for ai lunp es Lender requlres.
<br /> Y yY 4.Prope►ty.Dorrower wtll keep the proparty In good conditlon and make ell repaitl reatonabiy neceaeery.
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<br /> ,r I B. Exp�nus.Borrower egreee to pay ell Lender'e exponaee Including reaaonabte ettorneye'toes,If Borrower breeks eny covenant�in this deed
<br /> of trutt or in eny obllgetion tecured by thla doed of trunt.�orrower will pey theee amounts to Lender ea provided In Covenant 9 0}thle dsed of
<br /> truat. _
<br /> 8. PdoP B�CUrfty IM�mt�.Unless Borrowor firot obtains Lender's wrftten consent, Borrower wi�not make or permit any changes to any prlor
<br /> security Intereate.Borrower wfll perform ell of Borrower'e obllgatlona under any prlor mortpage, deed of tru�t or othar security agreemont, .
<br /> Including Borrower's covenants to meke payments whon due. -
<br /> 7.A/t1p rm�nt ot N�nU o�d P►a11U.Borrower aesigna tq Lender the rents and profite ot tho praperty.Unless Borrower and Lander have agreeU
<br /> • otherwise In writing, Borrower may collect and retaln the rente ae long es Borrower is not in defeult. If Borrower defeults, Lendor, Lender's -
<br /> epent, or a couK eppolnted recelver may take poasosalon and manege the proporty and coltoct the rents. Any rents Lender collecte ehell be _
<br /> ! applied flrat to the cotts of manaping the proporty, includinp court coete end ettorneys' feee,commisefone to eentai epente, and any other -_
<br /> • neceasary rMlatrd�xpen�es.The remalninp amount of rents wflt theo appiy to peynnan�e on the sacureJ debt as providaJ in Covensnt 1.
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<br /> 8.L�d:a's!s Ccr�m'�semr, PIMe�ex!!lnft�eeelo�nsnte.Borrewer egraea to camply with the provisions at any leo�e If thia deed of trust le on � _
<br /> i e Fa��shold. If thie deed of vuat i�on s unit in a condominlum or�planned uNt development,Borrower wiU perform ell of Barrowar's dutlaa
<br /> under the covensnts,byIsw�,or repulationa of the condominium or planned unit development.
<br /> '• � ' 8. Autl�ority o}L�nd�r to /uform ta Bwrow�►. If Borrower faila to perform any of Borrower'e dutiea under thia deed of truat, Lender may
<br /> perform the dutio�or cause them to be performed.Lender may sipn Borrowe�'e nsme or pey any amount if necesaary for�terform�nce.If eny
<br /> !"� conttruction on the propertl lc dltcontinued or not carried on In a resson�ble mtnner,Lender m�y do vihatever It necesary to protea4 Lender's
<br /> � security intereat In the property.This may inolude completing the constructlon. _ .'
<br /> � Lender'a fsilura to perform will not p►eclude Lender trom exerclsing any of ite otlier►ights under the law or thia deed of truat.
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<br /> AnY emounte paid by Londer to proteci Lender's security Intereat wlll be aecured by thls dead of truet. Such emounte wlll be due on domsnd -
<br /> and wili besr interest from tho deto of the payment until pcid in full at the Intereat rate In effeat on the secured debt. __
<br /> �� 10.D�fwtt snd Acc�Nrnlon. If Borrower fells to meke any payment when due or breaks any covenente under this deed oi trust or any -
<br /> � obllp�tian secured by this daed of truet or any prior mortpage or deod of truat,Lender mey acceterete the meturity of the secured debt end --
<br /> demend Immedlete payment end msy Invoke the power of sale end eny other remedioa permittod by opplfcabte I�w.
<br /> ,� `D.-;-,.i�i.!2!o lt,;r�Dy raquco2:.�!lt�2 pp!ES at Lh£stJ2!tee 4}$9�8UIL anrl g���P1n RPf1t t(f HACF1 O8f8011 WIIO IB 8�18IL�/
<br /> i i."nGijuiai iG:iva.u:'v. -
<br /> hereto,et the eddreaa of eaeh such person,es set torth herain.
<br /> 12.Powu of S�t�. If tha lender invokea the power oi eate,the Truatee thall fint record in the office of the regiiter of deeds of sach county
<br /> whxein the Vust property or aome part or parcel thereof la eituated a notice of default cont+�Inin tha Information requlred by lew.7he Trustee
<br /> shan s1:o meil coples of the notice of default to the Borrower,to eech person who Is a perty�ereto, and to other per�ona as preacribed by --
<br /> eppllcabk law. Not I�u ttun ons month sfter th� Truitse recorda the notice of defeult,or two months if the trust property lo not In any
<br />- incorponted city or villipe end i�used in terming o_perations carrted on by the uuitor,the Truste�shali pive public notice o}ssts to ths psrsons �
<br /> � end In the manner pretcrib�d bY eppplicnbto law.7ruotee,without demand on Borrower,ahall �ell the propeRy et publlo euction to the hiphest
<br />- ' ' bidder. If roquirod by the F�rm Homeeteed Proteotlon Aat,Tru�tee shell offer tM property In iwo aeperate sele�as roqulrod by appliaebte law.
<br />�._ Trutne m�y pos4pone�sle of aIi or eny pucet of the property by publtc mnouncement at the time end place of any previously echedutad sde. ��
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<br /> •• Lender or Ite deaipnee msy purchase the property at eny tate.
<br /> Upon recelpt of p�vment of the prtce bid,Trustee shaU deliver to tho purchaser Trustee's deed conveylng the proparty.The recittete conteined In -----
<br />' � ��� Truitee'e dosd shall be p�ime fecle evidience of the truth of the statemente contelned therein.Truntee shall epply the proceeds ot the sate In the
<br />= inllowi�p order. le) to nit exponeeo of the eolc, Ineluding, but not I(mited to, �oasonabie Truatea's feos, reaeoneble attomey's tees and
<br /> rdln�tatement fee�;(b)to aY�ums secured by thls deed of truat,end(0)the belance,H any,to the pereons legelly antitled to receive it.
<br />=i=";�'"'" 13.Fondown.At Lender'�option,thla deed of t�ust msy be forecloaed In tho manner provide by appllceble Uw tor foroclocure of mortpape� �-
<br /> '-""'-""' on resl property —
<br /> �,�.��OP�nvs.:.
<br /> i�..__,,,,,,, ' 14.Insp�cdan.Lertder may anter the property to Inspect it if Londer givea Borrower notice boforehand.The ratice muat stete the ruaaon�ble
<br />';:'3 5��.. • cau�e for Lender'e InapecYion.
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<br />,�-�:, �#` 16.Cotfd�mmtlen. Barower eaeipna to Lender the proceede of eny eward or clalm for demage�conneated with e oondemnation ot other taklny
<br /> ���•�'• - of 111 or eny p�rt of the property.Such proceeda will be eppiled es prnvided fn Coventnt 1.Thie esaipnmont is wbJecE to the termi ot eny prtor
<br />�" ..:�� security�yreement. __
<br />�,�c j��c`. iny eme�dy upon Borroware deisuit.�Lende�r does not walve eny ripht to litee consfdsr the event e deta�itff it h�ppeni apeln��By not oxcrci�ing -_ "�-_ ---
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<br /> �'?"-�'::°.", 77,JoFM�nd S�we�LlabNtv;Ca�ipnK�; Sueeetsort�nd A�sfpns Bound. AA dutles under thls deed of vuet ero Joint and aeverel. Any �.
<br /> ��T�.��:;'�: Borrowar who co•ainne tW� .3eed of tru9t but daes not co•elgn the underlyIn� debt insvumentl�) doet ao oniy to prant and convey thai ; �
<br /> - �ee�='* Borrower's tnterest in ihs qoperry to the Trustee under the termR of thb deed ot trost.In�ddition, wch e Borrower eproes that the Lender end f_
<br /> � sny otiier BoROwer under Ws deed of trust may exten"modii�r or make eny other chanpes tn the termu of Ui!s deed of trutit or the aecured -
<br />- ��^�T-�" ' � debt without thet Borrower's consent end wtthout releaainp thet Borrower from the terms of Mia deed of trust. -
<br /> �1�"�� The dutiei and benefite of thla deed of truet ehall bind and beneflt the euccesaoro e�d eaeipne of Lender end Borrowea .' -
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<br /> • 18.Noik�.Unlesa otherwise requfred by taw,any notice to Borrowor shall bo 8iven by deliverinp it or by maitinp it bVi certified mefl eddreesed to °.E�-�-�-= — _
<br /> Borrower at the properry addreas or eny other eddress that Borrower hea given to Lender.Borrower wUl plve ony notice to Lender by certiffed - _- _
<br /> � man to lender'd eddrets on page 1 ot tfita dced of truat,or to any other addreae which Lender hes deelpnatod,Any othar notice to Lender ehell ==_--�Y��
<br /> � • . � • be tent to Lender'e a�ddres��s eteted on pege 1 of thlo deed of truat. �'�;�W-_-__
<br /> ' . i '`,��;:F R-"°';�:
<br /> Any notice ehall be deemed to heve been plven to Borrower or Lender when given In the manner stated ebove. ,.� n�t�:;��
<br /> 19,Yranef�r of th� Prop�rty or�B�noflcir Int�r��t In th�Barowe. If eu or any part of the propertv or eny Intereat in It Is sold or trnnaferred " ��' °:" '�--=;_
<br /> � � wlUaut Lendor's prlar wrinen consertt, Lender may demand immediete peyment of the secured debt. Lender may elso demand immediate • :�_:
<br /> _ � payment H the Bor►ower I�not a neturel person and e beneticlel Intereet In the Borrower ie sold or tren�ferred. However, Lender mey not ,:.,��..
<br /> demand psyment In the ebove skustions if tt li prohlbited by federol law aa of tM date of thls deed of truat, . � K�
<br /> � 20.Reconveyance. Whcn tho ohllgation aocurod by this dood of truot has boon paid nnd Londor has no furthor obllpation to muko advancos ��""' �'
<br /> , under the inatruma�te or epreements eocurad by thla deed of trust, the Trustoe shalf,upon written roquest bY the Lender, reconvey the trust • "
<br /> � .- �� pro�erty.The Lendsr ehall deliver to thfl Borrower,or to Borrower's succassor in interest,the uust deed end the note or other evidence of tho ,
<br /> �,.-- ------°- ..�.i .�1....�.....tet��.i n....wu.�..6.t1........o......•d.Nnnnnar.
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<br /> 21.Succ�,taw TnistN. Landor, et Londor's optfon, mey romovo Trueteo and appoint n succeseor truetoe by firet, mailinp o copy of tho
<br /> subatiIIutlon of trueteo es roqufrad by applicable law,and thon,bV flling tho aubstitution of trustoo for rocord in tho oifico of tho roglater ot doode
<br /> -, • of each county in whlch the truat proporty,or some pert thereof, is situetod. The successor truatoe,without conveyance of the property,ehall
<br /> � aucceod to nll the power, dutlos,authority and titio of tho Truatee named In the dned of trust and of ony succeseor trustee.
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<br /> ' PA.NIIFRS 6Y6TEM5,INC.,St.ClOUD. MN 60301 It•L00•387•13111 FOHM OCP-MTC}NE 8/1B181 , " -�
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