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<br /> COVENANTB �'� 1�1�,��� ��
<br /> �� �t��R �".
<br /> 1. f+�ymmts. Borrower epreoe to meke eil paymeN� on th� �acurod debt when due. UNese Borrower �rid�l.en�ler� r e ot isa.
<br /> payrtiente Lender rocelvo9 f�om Horrowar or tor Bonov.rer'e boneflt wlil bo oppIlod flret to eny omounte 90 *Wee� tha � �d� .
<br /> oxciuelvo ot Intoroet ur princfpal,eecond to IntorosY,end then to princlpel.1}pnrtlol prepeyment of the eoaired ��ccure(or dtyl;fdi `�will
<br /> not red�ce or excuse eny�cheduled peyment untll th�Qecured debt le pald In full. C;,,;��,?1", .��:� '� '�������' _�
<br /> 2. GIMm�Apalnf!Tid�.�orrawer wlil pay dl texew,nea�ttmento,end othor oherpoa attrlbsitabto to tho prope �PPdue and wlu dot�n�f tltlo
<br /> to the property eGalmt any clolmi whloh would Imp�V the Ilen of lhl�d�sd uf tnut.LonAer mey requlre Uorrower to s��lpn ony riflhte, clelme or
<br /> deYenres whlch 6orrowsr m�y h�ve npNn�t putlw� who suppiy lehor or m�tetlel�to Improve or melntaln the property. . „ -
<br /> 9. Intur�no�. Borrowu wlll k�Mp th� prop�rtY Inaurb undu Nrm�or,c�pt�Ute to Lende� �t 8orrower'���p�me snd for Lender'�beno}It. All
<br /> Insunnc�pollcle�ahdl Includ���t�nd�rd morty�p�chu��In lavor at Landn.4�nd�r wlll b�n�m�d��lou p�W�ur��ths IntuvaA on eny�uoh
<br /> Inaurence potlay,Any Infursnca procqedo m�y b• �pplled,wlthln Lender'�dl�crotlon,to elther the ro�toretlon or rnpelr o}the demepod prpporty _
<br /> or to th�iecured debt.If Lendrr requiroa roort�oQe{nau��nca, Oorrowor cproao to r�iclntaln auch Inauronco 4or oo lonp nn l.nnAer sequlren.
<br /> 4.Prop�rty.Dorrower wtll keep the property In pood eonditlon end make ell repaln rea�onaUly necee�ary. �,���
<br /> � 6. Hxpanta.8orrower ngreei to pey all Lender's oxp�nse� Includlnp reseonsble ettorneys'}ee�,Ii Dorrowar breek�eny covenent�In thl�deed
<br /> of trutt or In any obllpatlon aecurod by thl�deed of Uus4.�orrower will pey the�e emounte to Lender ee provlded In Covenent 9 of thie deed of
<br /> tfUBI. ��
<br /> � � 8. Pdor B�eudtY Int�n�t�.Unlede Botrower flrot obtelns Lender's written connent, Borrower will not meke or permit any Cheneee to eny prlor �'� �
<br /> Ieecurity Interoaie. Borrower wlli poNorm all o} @arrower'e obilpetlons under eny p►lor mongage, daed of truet or other eecurity egroement, -"'-p`�
<br /> 1 Includinp Borro�ver'e covenante to meke peyments when due. , ^ __�
<br /> 7.Ani nm�M of R�nts�nd Proftb.Borrower aesiyna to Lender the rents and profita of the properry. Unleae Borrower end Lender have ngreod ���--�'�a
<br /> o t h e r w P s e I n w r i t i n p, B o r ro w e r m e y c o l l e c t a n d r e teln t}�e reni�ae lon g bs Barrawsr Is not In dofauit. If Borrower dofaults, Ler.dor, Lender'e ;;•- -
<br /> ' egent, or a court appolnted rocelvar moy teke pns6e8sfon and manago the property end callect the ronte.Any rents Len dar co l lec ts s ha l l b e `�,�:
<br /> ; applled first to the costa of inenagin the property,includin court coata end attorneys' fees, cammisalona to rental agents, and any other r�
<br /> neceseary related exponsea.The remaQninp amount oi re�te w�l then epply to payments on the secured dobt as provided in Covenent 1. '��
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<br /> 8.l�as�holda:Condominiums;Plann�d Udt DwNopm�nU.Borrower agrees to camply with the provisiona of any lease If this deed oi trust le on -
<br /> e leasehold. If this deed of trust Is on a unit In a condominlum or e planned unit development, Borrower will portorm ail of Borro�ver's dutiea • .
<br /> undsr tl�a covcnanta,by-lawa,or reflulet(one of the conaominium or plenned unit devetopment. _
<br /> 9. Authority of L�nd�r to P�rtorm for Bonow�r. If Bonower falla toparform any of Borrower's dutiea undor this deed ot trust,Lander may _�
<br /> ' perform the dutiot or ceuse them to be performed.lender may sign 8orrower'e neme or pey any emount if necessery fo►performence. If any ,
<br /> conat�uctlon an the proparty le dlecontinued or not cerried on in a reasonable manner,lender may do whatever Is necessary to protect Lender's
<br /> security interest in the property.Thla may Inctude compteting the conatruatlon. �-
<br /> � Lende�'e failure to parform wlil not prectude Lender from exercising any of ks other rlghts under tho lew or thla deed of trust. ��,u�
<br /> � '• AnY emounts paid by Lender to protact Lender's security intereat wiil be eecured by thls deed of trust.Such amounta will be due on demend
<br /> and will bear interest from the date of the payment until peid in fuil at;he intorest rate In effect on the aecured debt. �;��?�'-� _
<br /> � �' 10. D�fwk�nd Acc�l�nUon. ff Borrower faile to meke any payment when due or breake any covenents under thle deed of truet or eny ,.; ,
<br /> obllgetion secured by thla deed of uuat or any prlor mortgege or deed of trust, Lender may acceio�ate tho matur(ty of the eecured debt end �� '
<br /> ' demend immedlate payment and mey Invoke tha power of sele and any other remedlea permittad by eppllcabie law. ;
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<br /> 17.R�Quut for Nottc�of D�twit It la hereby requaeted thet copien of the noticea of default and eate be sent to each pereon who is a pnrty �
<br /> ' hereto,at the addrese of each such person,es set forth herein. � � ._�
<br /> 12.Pow�r of BYs.If the Lender Invokoa the power of aele, the Truatee shell iiret record In the office of the regioter of deeds of eech county ;�
<br /> . � wherein the truat property or came part ar parcet theraof Is situetod a notice of default containing the Intormetion requlred by lew,The Trustee ,r
<br /> , shell also mail copie�of the notics of detault to the Borrower,to eaoh petaon who is a party hereto, and to other persona as prascribed by
<br /> nppiloe6te law. Not lesa than one mo�th after the Truatee records the notice of default or two monthe if the trust property Is not in eny .�
<br /> t� inoorporeted city or�Iliapa and la used ir,ferming operations oarried on by the trustor,the frustee ahall pive public notice of eele to the porsons ,.
<br /> � end in the msnner proscribed bV apppltcabie law. TNStee,without damnnd on Borrower, ehell sell the property et publla auctlon to the hiaheat
<br /> bidder.If required by the Farm Homeitead Protectlon Act,Trustee chail offer the propertv In two separate sele6 ae required by epplicoble law.
<br /> ' Trurtee may poetpone eale of ell or any parcel of the property by public ennouncert�ent af the time and place ot any previously echeduied eale.
<br /> Lender or Its d�sip�ee may purch�eo the properry atmy enle. ,
<br /> "�.
<br /> Upon recelpt ot pa�ment of the price bid,Trustee ahall deliver to the purcheser Truetee'e deed convayinp the property.The recitiele conteined in
<br /> Truetee's deed sha I be prima tacle evidience of the Uuth of the etatements conteined thereln.Trustee sh�il appty the proceeda of the eate In ths
<br /> foibw6ip order: (a) to ell expensea of the sele, Inctuding, but not Ilmited to, reasoneble Truatee'e feea, reasoneble attorney's feea end
<br /> � rein�tat�ment fees;(b1 to ell sume�ecured by thia deed of trust,end(c)the betance,if eny,to the pertona leg�lly entitlad to receive it. —
<br /> � 13.Fa�dos�x�.At Lendnr'e optlo�L this deed of uu�t mey ba foroctosed In the menner provide by epplicable law for foraclosure of mortpepee �,,�
<br />= on real property. -
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<br />'_ � ' � ` � 14.Insptntion.Lender may enter the property to Inspect ft if Lender givea 8orrower notice betorehend.The notice muat etete the reasoneble `
<br />-- • � �'� ' cawe for Lender's inepectlon.
<br /> - � � ' 16.CondNnrnUon.Borrower asiiQna to Lender the proceeds of any eward or clalm for damep es conneoted with e condemnetion or other takinp �
<br /> of ell or any psrt of the property.Such proceeda wil be applied as provided in Covenent 1.Thia aaalpnment le subJect to the terma of any prior «
<br /> ' security apreement. �--
<br /> � , ' � 78.W�iwe.By exercising any remedy evallable to Lender,Lender doea not give u�any righte to later uao eny other remedy,By not exerClaing =—
<br /> -' � - en�remedy upnn Borrower e defeok,Lender dooe not weivn eny Hpht to leter cone der 4he evnnt e deteult M h happene egain. ��'"
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<br /> � 17,ddnt ond g�wnl lI�• Casip�r, Succwon�nd Aasipm Bound. All dutiea under this deed of truat are Joint and severel. Any � �
<br /> �•y;� ., Borrowor who co•aiqno thia e�d of trust but doet not co-aign the underlSrIng debt inctrumentls) doee so only ta Orant and convey that _
<br /> ''':,..M.., �� � Borrower's interest In the property to the T�uetee unde►tho terms of thla deod of trust.In edditlon,such a Borrower agreea that the I.ender end
<br /> eny other Borrower under thia doed of trust may exlend,modlfy o�make eny other changes in the terms of thie deed of Vust or the secured �_-
<br /> •,, debt wlthout that Borrower'e cansent end without rebasinp thet Borrower from the terms of thia deed of truat. - --� _
<br /> � ', � The dutie��nd benofits of thle deed of trust shall bind ond benefit the successors and assigne of Lender and Borrower. .:'—�'-°°`°'-
<br /> ,,;asr�?�ar��;.
<br />_ � 18.Notk�.Unleas otherwtse requlred by lew,any mtice to Borrower ehall be piven by dotfvering It or by mailfng it by certified mell eddreasod to r Y.
<br /> Borrower et the pro�arty addreas or any other eddress that Borrower hae qfven to Lender.Borrower will pive any notice ta Lender by cert(fied �` �:�r:.
<br /> mell to Lendar'e eddresa on pape 1 of thla deed oi wat,or to any other nddress whlch Londer hea desipneted.Any other notice to I.ender shali � ' �f;;!.., :'
<br /> .:ti�...x�,
<br /> � . bo sent to Lender'e eddreas es steted on pege 1 of Ods deed of trust. '�;.-�=" ,
<br /> . � �-i,,�w'�r;!''�M }1yf,_1::;'
<br /> , ' ; Any notico ahall be deervied to have been given to Borrower or Lender when given In the manner stated ahovo. `'� .'�. ..,.:::
<br /> . .�nr,n.� r�-.7�,-•
<br /> � 19.Tnn�fnr of tM Propety or�Berntkir IM�►�tlin tM Barow�r.�f all or any part of the propertv or any i�teroat In it Is sold or tranafarred ;_?�i=;;��;:,�.�'�
<br /> without Lender's prlor �ttitten consent, Lender m�y demand Immodlate payment of the eecured debt. Lender may also demend immedloto � .���-•_;%�•�•�
<br /> � �emsndtpaymenB/n the above eftuatio erif li la prolubted by federal Iew os of the daterof thle deed�of trustneforrod. However, Londor mey not
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<br /> '' Z0.Reaonv�ytnc�.When t0e obligation securod by this deed of trusc has been paid end Londer has no further obligatfon to make advances � � "
<br /> � und�er the InsVumoMe or egreements eecurod by Ude deed of auet, the Truatee shelf upon written requeat by the Lender,raconvey the truat "
<br /> • � oblipatrion�o eetinfied6dorrow�er shalltpay eny eaordetion coste.er's succeasor in interest,the trust deed and the note or other evidence ot the
<br /> -- .,-'.. . -,..! �s� Q..r�.r.T....w ��...1.. .� 1 e.vl..'. n..�im mw ►amnva Truntu irvi anminf a au�rsunnr truntnn hv f3rnt mailinn a r.nnv nf thw - .�_ -. .__..-,...--�-
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<br /> subatitution of trustee es raqulred by applicable rew,end then,bY tillnC�the subatitu�lon of truatee for rocord fn tho office of the iaglster of deods . _
<br /> � of each county In whlch tho trunt property,or eomepart tharoot, Is sttuatod.Tho succassor truatoe,without convoyanco ot tho proporty,shell
<br /> succeod to eli the power,duttos,authortty and title of tho Trustoo nemod in tho doud of truat tind of any succosaor tnistoo.
<br /> fpage T ol 2l ,
<br /> — BANKEflS 6Y6TEMS,INC.,6T.CLOUD.MN 66307 I1�Op0397•29lII FOflM OCP�MT6•NE 8/79/91 �'
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