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<br /> , COVE�IANT8 �+�~ '����!:A� � ,t .
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<br /> 1. P�yrt!mt�. 8orra�vor nprooa to mako all peyrnonte un tha eocurod datrt whon duo. Unloee 9orrowar and 4ondor eprea ot�ierw � eny
<br /> poymonto Londor racolvoo}rom Borrowor or lor Borrowor'e bonoflt witl bo appilod Ilrnt to any amounte Dorrawor owee on tho secured debt
<br /> excluelve of Intere�t or principal,�econd to Interest,end then to princlpul,if partlal prepeymont of tha soourod dobt occuro for any ranaon,It wlll �
<br /> not roduce or axcueo eny�chedulod peymant untll tho eacurod dobt 16 pald In tull.
<br /> 2.CIMm�ApNntt Tld�. Borrower wlll poy ell texee,ee�ee�mente, end otho►cherpee ottrlbutebte to the raperty when due and wlll de}end tltle
<br /> to the property AU elmt eny clelme whlch woutd Impelr the lien of thl�deed of truet.lendor may requlre�orrower ro esnign eny rlphte,clslme or _
<br /> de}enee�whiol�9o►rowet mey hws�ydmt partleo who supply lebor o►m�terlale to Improve or melnteln the proparty.
<br /> 3. Imurww�. Etorrower wlll keep th�prop�rty Insursd under tum��ac�pt�blo to Lender et Bonower'e expenas nnd for le��der'e benetit. All _
<br /> Insurence pollale�ehall fnelude s otondud mortg�ge cl�uss In favor o}Lendot.Londer wlil be nemeA ne loas payoo or ae tho Ineurod on any euch ___
<br /> or to the iecured debt�if la der requlrii�mo�tyips Iniurin eit Borio er�eproies to�melnte n��uch Ineurnnce}or ee longlee Lendor requlree r���r�y ,
<br /> 4.Proptrty.Borrower wlll keep the p►aperty In pood conditlon end meke ell►epelre reeeonably noceeeary. •n _
<br /> •�� 6.Exp�nat.8orrower apreen to pey ell Lender's expeneee fnciudinp rea�onab!n ettorneye'}ees,If Borrower breaks eny covenents In thle deed
<br /> of truet or In eny obllpatlon eecured by thle doed of t►uat.�orrower wlil pay theao emounte to l.endor ae provlded In Cavenant 9 ot thia deed of
<br /> trust.
<br /> 6,Prior 8ecuritY Intseste.Unleee Borrower firet obtalna Lender'R written conoent,Borrower wlli not make or pormlt eny chanpoa to ony prior
<br /> eecurity Intereste. Borrower wiil perform oll of Borrower'e obllgatlone under any prlor mortpnge, deed ot trust or other r�ecurity eflreement, ., ` „_,
<br /> ' fnciuding 8orrower'e covenant�to mske payments when due. � - """.�'r'���� �
<br /> 7.b s s i�n m�n Y o t R�n t r a�i d P 7otito.Dorrawer asol pns to Londer tho rente end profito of the praperty.Untesa Botrower and Lender hnvo agreed :�,,i��,,�,_;
<br /> otharwise In wdting,Borrower mey collect and retain the rente ae long ea Borrower Is noY In defeult, If Borrower defaults,Lender, Lon der's . --=x;°�=--=
<br /> agent, or e court appointed recelver mey take poeseasion and manepe the property end cailect tha rente.Any renta Lender colloats shall be � �
<br /> applied flrot ta the wste of ineneylng the property, IncludlnQ court co�te and attameye' feee, commiselons to rental ago��ts, and any other . s;�.m:�� -
<br /> noceseary rolstad expense�.The romeining amount of rent�wili then epply to payments on the secured debt es provided In Covenant 1. „_—`
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<br /> 8.L��s�holds•Condomintums;Pl�nmd Unit D�vdopm�nts.Borrower aflreea to comply with the provislone af any lease if this dood of trust Is on :*� .yr•
<br /> a IeaseholJ. 1�thls deed of trust Is on a unit In o candaminium or a plannad unit development.Bonower witl perform all ot Borrower's dutfes
<br /> under the covonante,by-lews,ar roeutetlona of the condominlum or planned unit development. ��'- _
<br /> 8.AuthakY of L�nd�r to P�rform tor Borrown. If 8orrower tella to perform any of Borrower'e dutios under thia deed of trust, Lender may ��
<br /> perform the dutles or cauee them to be pertormed.Lender mey slpn 8orrower's neme or pay eny amount If neceseary for performance, If eny • ';�u. _�
<br /> ' I construction on the property fa discantinued or not aarried on i�a reesonabie manner,Lender may do whatever la neceseary to protect Lender's - . - __�
<br /> ��;�i security Intereat i�the property.This mey inctude completing the conatruction. ` � —
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<br /> Lender'e fellure to perform will not prec�ude Lender from exerclsing any of Ite other riphte un der t he law or t h ia dee d o f t r u e t.
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<br /> _ . •,. , Any amounu p�id by Lendar to proteot Lender'e aecurity Interest wiit be cecured by thla deed of Vwt. Such emounts will be due on demand ;;�
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<br /> � �� antl will bear intereet from the deta of the payment uhtil pald in full et the Intarost rete in effect on the secured debt. '•.'Q ;;�[=i'
<br /> �� 10. D�f�uit �nd AtcN�ndon. If Bmrower felle to make any payment when due or breeke eny covenants undor thie daed of truat or any '",�
<br /> ' oblipatlon secured by thla deed of truat or eny prior mortpepe or deed of truat, Lender may accelerate the maturity of the secured debt and ,�,�
<br /> +�� demend Immedlete peyment a�d msy Invoke the power of eele end my other remedles permitted by eppliaebie law. '*x
<br /> T 11.R�qwit ta,fllotic�of D�fauit. It is hereby requested that coplBa of tho noticos of defeult end sele be sent to each pereon who ie a perty :. �:�
<br /> ' ----r' heroto,et ti�a aadreaa oi encii wcn paroun,ae nni�Orii�i�oibii�. ,`
<br /> 12.Pow�r ot B�I�.If the Lender invokee the power of sale, tha Truetee shell firet record in the oHice of lhe reglater of deeds of each county ' +�
<br /> �,r� wherein the troat property or eome pert or parcol theroof ia eftueted e notice ot datauit contalnin9 tha Informatfon►equirod by law.The Trostee •:' �,_
<br /> �, � shell et�o mail copiea of the notice of detault to the Borrower,to each pereon who Is a party hereto, and to other persons es pa not bn any 'J� "�
<br /> eppllcable law.Not iess than one month efter tho Trustea records the notice of defauit nr two montha if the trust property i �:
<br /> incorporated city or villapo nnd le used In ferming operatlons carried on by the trustor,the frustee shall glve pu611c notice of sate to the persona ; �
<br /> c� and!n the manne►preecrfGed by eppplicab!e law.Truatee,without demend on Borrower,shelt sell the property at pubtla euatlon to the hiphoat �-�
<br />- bidder.If requirod by the Farm Home�tead Protectlon Act,Trustee nhell offer the property In two separete eatee ea requlred by eppllaable law. ,_
<br /> Trustee msy pott�►one saie of ell or any percel ot the property by public ennauncement at the tlme and plece of eny prevlouily scheduled sale. ,i�,
<br />, ;� Lender or its denl�nee may purchase the property at eny a�le. •
<br /> �'° Upon receipt of peyment of the piice bid,Truitee ehell deliver to the purcheser Truetee's deed ccnveying the property.The recitiaia contalned In ��.
<br /> �- Trustee'�deed ehall be prima f�cie evldtence of the truth ot the statements contalned therein.Truatee ehall apply tho proceeda oi the sete tn the _
<br /> following order: (al to all axpenses of tho sale, Inctuding, but not Ilmited to, reasoneblo Tnistee's fees, reesonable Attorney's feee and _ _
<br /> - . relnstatement feea;(b)to ell eums securod by thla deed ot trust,and Ic)the balance,I f any,to t he pertons Ie g a l i y o n t i t l e d t o�e c e i v e I t.
<br /> i-' " 13.Far�closur�.At Lender's option,thia deed of trust may be foreclosed In the manner provide by appltcable law tor foreclosure of mortpapes
<br />�=,� � �. on real property. ��-
<br /> •"•" '' 14.Intp�atlon.Lender mey enter the property to Inapeot it It lender glves Oorrower notice beforehend. The notice must etate the reasonable -
<br />;�ap� .. `���• �� ceu�s for L�nder's Inspeotion. �
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<br /> K;;.' � 76.ComktnnWon.Borrower essig�ns ta Lender the proceeda of any ewerd or claim for damagee connected with e condemnetion or other takinp
<br />=, of ell or eny part of tho proparty.Such proceeda wiil be eppiled ae provided In Covenant 1.7hie essiynment ia subJect to the terme of eny prior �`+i
<br />�. - eecurity epreeme�t
<br /> _. •�:�.t 16.W�Iv�r.By exercising eny remedy avnliable to Lender,Lender does not glve up any riphts to lator uao eny other remady,By not exeralsi�ig E '-'-"— - ---_
<br />- � eny remedy upon Borrower's defeuit,Londer doea not walve any�Ignt to later conefdor the event a defauft ff il Fiaypnuy epe{n. �.
<br /> `� � 17. Jolnt�nd SaveN Llabilitv Co•sipn�rs; Succuson md A�d9ns Bound. All dutiea under this deed of truat ere Jolnt and several. Any ��_:
<br /> f',.,,�..�r.� •- � Borrower who co•alpna thla deed of truat but doas not co•sign the underlYInp debt Inatrumentls)does so only to prant end convey thet
<br /> - ' � Borrower's Interest In the property to the Trustee under tho terms of thfe deed of uust.In eddition,such e Borrower agrees that the Lender and �;:.
<br />_ • eny other Borrower under thle doed of truat mey extend,modify or meke eny other chenges In the terme of thls deed of truat or the secured ,,;_,._. _ -
<br />_ ' � , debt wfthout that Borrower'e eoneent end without releesing thet Borrower from the terms of thia doed of truat. E_�.-_ _
<br /> � �' �;} The dutlea and benefks ut thls deed of trust shell bind and benetit tha succesaora and assigna of Lender and Borrower. �•` _ _
<br /> � ' 18.Notla.Unlesa otherwioe requirod by lew,any notice to Borrower ehelt be given by dellvering It or by meilfng It by certiiled mail eddressed to " � °�----°--°_----_.`
<br /> Borrower at the properry eddrose or any other eddreaa thet Borrower hea given to Lender.Borrower will give any notice to Lender by ce►tified �� �•�
<br /> � � metl to Lender'e eddroae on pepe 1 of this deed of trust,or to any other addrese which Londor hea deaignated.Arty other notice to Lender shell � °��*v"=��
<br /> - be sent to Lender'e eddreas aa ete4od on pape 1 of thla deed of truat. `t: �. �,{+.•
<br />� _. .•�� vAN.t4
<br />_ ; Any notice shell be deemed to have baen given to Borrower or Londer when given in the manner statod above. ��zti�f /v}!';`< �.��:�
<br /> '� 18.Tr�n�f�r ot tfi�Prop�rty or�BenMcfv IntF=et in th�Borrowlr. If all or any part of the property ot eny Intereat in It is sold or tranaferred .���•����,�,T;�;`,�=
<br /> payhmont If�thorlBorrower�le not e naturel pereon endda boneticiclenteroaPen�thetBorrowor la eoddob trensferod. Howevore Lendermmay�not "'r�c�s''-r� '
<br /> "= domend peyment In the ebove oituntlons If ft la prohibited by federel law ea of the dote of thls doed of trust.
<br /> 20.R�conv�yM�c�.When tha obiipatlon secured by thla deed of trust hes beon pnid,and Lender hes no further obligation to make odvances ,. .,
<br /> • under tho InaVuments or agreements secured by thls deed of truet, the Trustoe shall,upun written requost by tho Landnr,roconvay tho truot • _
<br />- . property.7he Lender shali deliver to the Borrower,or to Borrowor'e succeaeor in Interest,the?rust deod end tha note or other evidence of tho .
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<br /> __ _ obiigatlon eo eetiafled.Borrower ehell pny eny rocordatlon costs.
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<br /> '�� a1. Succ�asa Ttu�t��. Londer, at lender's optlon, may romove Trusteo and nppolnt a successor trusteo by first,malling a copy of tho �
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<br /> substitutlon ot trustee as requlred by applicable law,end then,by fillng the substitutfon of trustae for record in tho office of tho rogiator of daeds
<br /> • ot oach county in whlch tho truet property,or some pert thereof,Is aitueted.The suCCeesor trustee,without conveyanco of the proparty,shall
<br /> succeed to ell the power,duties,nuthority and titlo of the Trustoe namod in tho deed of trust and of eny auccossor trustoe. '
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<br /> - BANKEIIS SYSTE�16,INC..5T.CLOUO.MN 68�01 11•600•�97•�3411 FORM OCP�NST6NE O/1B/91 . .
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