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<br /> COVENANTB f -_°-:_
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<br /> 1. P�ymont�. Borrowe► epreee to meke all payment� on the eecured debt when due. Unleta Borrower end Lender aGroe othorwisa, nnY _
<br /> peymente Lencler rocdveo(fam Qorrower or tor Borrower'e bonefit wlll be applled firot to eny emuun4o Borrov�ar o�voe on tho oocured debt
<br /> not reduco ornoxcuie iny��r.tleduled peymont untllihe�iecured debt le�pe�fd In full�l propnymont of tho eocurad dobt occure for nny roaeon,ft wlll
<br /> Z.Cl�im�ApMa�t TiU�.Borrower wul p�y all axe�,e��ea�ment�,and other cherpee attrlbutabte to the property whon due end wHl dotond tltlo
<br /> detensee whlch�Borr�wer mey heve epe nst pa,ti�pwho eupply�aboiDOr mntorlets to Improv or m�elntaln therpropertyp�elpn any riphte,clelme or ,
<br /> 3. Inwnna�. Borrower wlll kaep the proparly fn�ured und�r terms ecceptabts to Lender et Borrower's expense end for Londer's banetlt. All _`��.
<br /> Ineurance pollcle�eheli Inalude e standerd monpepe clsuss In favor ot Lender.Lender wlli be named�i lo��payee or er the ineured on eny cuoh
<br /> insuranca pollcy.Any Incuranca proceode mey be epplled,withln Lender's dlecretion,to altiier the reetoretlon or ropelr o}tho damaped property �
<br /> or to the�ecured debt.It Lender requlrea mortpega Insurance, dorrower ngreee to meintain such insuranco lor aa lonp nn Londor toqufrae. ;,.�i_
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<br /> : 4.Proputy.Barrower w1ll keep the proparty In Anod condition end make all repairs reesonably necoeeery. , ;i�
<br /> � 6.Exp�et��.Borrower egreen to pay ell Londer's expensee Including reasoneble attorneys'foes,if Borrowor braaks any covenante In thia deed . ���
<br /> of truat or In eny obllpetlon eecured by thia dend of trust.�orrower will pay these amounts to Lnnder ae provided in Covenant 9 of thle deod of ,,:.��,�;
<br /> truat. . -,��'�:.�:=Ti%.. �
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<br /> ' 8.Pdor Oocurity inteut�.Unleas Borrower flrst ohteina LendeYs written consent, Bonower will not make or permit any changes to any p , y�,;;,z,,,_
<br /> security Utereste. Borrower will perfarm oll of Borrower'e obliQations under any prior mortfle8e, deed of truet or othor aecurity egreement, , _;,,:-_—_-
<br /> Including Barrower'e covenanta to meke paymonts when due. �•-•'��:�•'''°
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<br /> 7.Atsl�m�nt of R�na�nd Proflt�.Borrowor asalpna to Lender the rente and profits of tha property.Unlesa Borrower and Lendet hava aereed - _�;rc __
<br /> otherw ai e In writing, Botrower mey colleat end rotein the rente aa long as Borrowor Is not In defeuit. If Borrower de}aufts, Lender, Lender's ����,::_
<br /> agent, or a coun appointed receiver mey take possesalon end manage the property and collect the rents. Any rents Lender collects shall be .�,.
<br /> � epplled first 4o the coats of inenaging the property. Inciudlng court coats and ettorneya' feea, commieaions to rental aeente, and nny other ,�•
<br /> necessery related expensea.The remalnlnp amount of rent4 wfll then epply to peymente on the eecured debt as provided fn Covenant 1. �t„�
<br /> � � 8.U�uhold�s CandomlNumr Phnn�d Unit Dw�Iopmanta.Borrower egrees to camply with the provlaions of any loeso If th(s doed of trust is on • '-.
<br /> a leesehotd.If thia daed of trust la on a unit In a condominium or a Dlenned unit developmenL Borrower will perform ell of Borrower's duties �,�,�;..
<br /> � under the covenants,by-laws,or regulatlona of the condominium or planRed unk dovotopmont. ;. - --
<br /> �' � 9.Authodty of Lsnd�r to P�tform for Borrow�r.If Borrower falis to portorm any of Borrower's dutlea under thie deed of trust, Lender moy ;;.:;�.�;��
<br /> perform the dutlea or cause t hem to be pe r f or m e d.L e n d er ma y si gn Borrower'e neme or pay eny amuunt If neceasary for performance.If any
<br /> constructlon on tho property le dlscontinued or not carriod on in e roasonable mannor, Len der mey do whatever is neceasary to protect Len der's •,,'tc:,1
<br /> security Interest In the property.Thla may Include compteting the construction. :,J ._.:_-
<br /> �� Lender's fatlure to perform will not preciude Lender irom exercleing any ot its othet flghts under the lew or thie daed of trust. ��c=:��
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<br /> Any emounte paid by Lender to proteat Lender's�ecurity Intereat wlll be eecurad 6y this deed of trust.Such amounte wili be due on demand
<br /> ,�, and wiii bear Intereat from the date of the paymant until pald in full et the interest rete in efteat on the secured debt. : _ _ -
<br /> 10. D�fwie �nd AccNeatlon. If 8orrower feils to make nny payment when due or breake eny covenents under 4his deed af trust or any
<br /> f obllystlon secured by thl�deed of truat or eny prlor monpepe or deed of trust, Lender m�y�aoclerets the m�turity of the seourad debt end E�
<br /> demend Immediats psyment end may Invoke iho powsr of�els�nd eny other remedls�pumitt�d by�pplic�bte law.
<br /> � hst`Q�qu��fa N�tl;�}��h�ch�oenon�iiYsat}orth heiein,copie�of the noticet o}de}�uit�nd�d�be ant to sach penon who Is�party
<br /> 12.Powa of BM�.I}the LeMsr Invoke�th�pow�r of ul�, the Tru�tse�hdl 11nt record in th� oNlce of the npl�tsr of dnde of��oh county
<br /> wh�nin th�tru�t propeitty or�ome put or plrcel th�nof U sltu�tnd�notla of d�f�uit contalNnp th�Intorm�tion nqulnd by I�w.Th�Tru�tu
<br /> � ento,�nd to other rsorn e�pr�tcrl6�d by
<br /> � sh�ll dio mell copia of the notice of det�ult to th� Bo:rower,to e�ch peraon who I�� paity h p� _
<br /> �ppllosbN I�w. Not I�s�th�n on� month �h�r the Tru�ta ncordt th� notico of dsfwit or two month� I} th�trwt prop�rty l�not In �ny
<br /> Incorpont�d clty or vlil�p��nd Is und In fumi�y oparatlunf a�rrisd on by the truetor,th�f►ultse thdl pivs publlo notla of tsl�to th�person�
<br /> �nd In th�m�nn�r pnscrlWd by��pppllaable Isw.Trust��,wlthout d�m�nd on Borrow�r,�h�a�all the prop�rty�t publlo�uatlon to ths hipheat
<br /> bidder.If required by tha Farm Home�tead Rrotectlon Aot,Tru�tee�h�ll oHer th�prop�rtv In two ieptnte�des��requlrsd by eppllaable lew.
<br /> - � Truetee msy postpone sats of dl or my p�resl ot ths prope►qt by publlo�nnouncsment�t th�tim��nd pt�ce of my prsvlouNy�cheduled s�te. ;
<br /> • Lender or It�d�flpnee m�y purchaae the property�t any nls. •
<br /> � Upon receipt ot psYmsnt of the price bid,7ruttee ihall deliver to the purcho�er Truttes'�deed convsying the property.Ths recltiele contefned In T'
<br />�, Truatee's deed�hall 6e prime fecie evidlence ot the truth of the etatemente contelned therefn.Trustee shail apD�Y the proceed�ot the�eta In the
<br />- � � ie nstntement feee��lb)to�ell numa eecured 6y thli deed of�trust uend lo)�thetbatence,�iffeny,t�o t e petsone lepally entRted to rottceive li,foea and
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<br /> �r� ' 13.Fowcbax�.At Lender's optlon,this deod of truat mey be foroclosed In the menner provlde by eppilcnbte law for foreclosure of mortpagea ��
<br />�+•:����•==+� onroaiproperty --
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<br /> _�.�� „ <y� : 14.Imp�cdon.Lender may enter the property to In�pect it if Lender givea Borrower notice beforohend.The notice must state the reeaonable
<br />��.. cause tor Lender's in�pactlon. %,��.
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<br /> 1:� . .r 16.Cond�mnttlon.Borrower eesi9�ns to Lendor tha�roceede of any award or cialm for dame�ge�a conneoted with e condemnation or other teking c-
<br /> of all or any pert of the p►operty. such proceeds will be epptled es provided In Covenant 1. 7hls es�ignment la eubJeCt to the term�ot eny prior o_
<br /> -:i eecurity apreement,
<br /> ' • �• y •� a y remedy pon Borrower e defeuRtl Lender dooe not waive enyr tght to late�consider the ovont aidofcultef it h ppeneeepeiny�Bv not exercfain9 c_ '_ -_
<br /> ��� ._ �.- 17. Jolnt Md 8w�rr Lt�piyty. Coaipn�n; Suce�ston�nd Awipm Bound. Ail dutlea under thla deed of truet me Jolnt and ceveral. Any �;,�._
<br /> �:�"'��°^' "• Botrower who ca•sipm thie deed of ttu�t but daes not co•aign the underlYinp debt instrumentls) does so oniy to grant and convey thet �.:.,
<br /> " "��� � : Borrower's interest In tho property to the Truatee under the terms of thls deed of truat.In adNtion,auch a Borrower eprees thet the Lender and
<br /> -��;.,,,.; ' eny other Barrower undet thit deed of trua may oxtend,rrsadliv or make any other chanpe�In the terms of thia deed of uuet or the secured __
<br />�;,. • � debt without thet Borrower's consent and without roleasing that�orrower from the terme of thls deed of truet i:----,�
<br />- • The dutiet and benettte of thla deed of truet shall bind nnd benefit the successors and asalpna of Lender end Borro�vea �_;���
<br /> 18.Notics.Unless otherwise required by lew, eny notice to Borrowor ahall be given by delivering It or by mailinp it by cerNfied mell eddreased to C'-'..�------------
<br /> , �� Borrower et the ptoperty eddress or anV other eddresa that 8orrower has given to Lender. Borrower will give any notice to Lender by certifled
<br /> meil to Lender'e address on pape 1 ot thia deed of vuet,or to eny other eddrone which Lander has deslqneted.Any othor notice to Lendor ahell �;�¢,'-
<br /> ' ;t
<br /> be sent to Lender'e eddreaa aa steted on page 1�of thle deed of truat, �•�Tr:._
<br /> ' Any notice shall be deemad to heve been qive�to Borrower or Londer whon given In tho marmer statod ebovo. `:%�;�i��; �'�si-
<br /> " 19.TnnstK ot th�PropKtY or�B�flciY Inte�tt tn M�Borcowe.If all or any part of the proportV ar eny Interest In it Is eold or transferred � ��'��+.�_�'l?:
<br /> without Lender's prlor written consent, Lender may damand Immediate payment of tho secured dobt. Lender may ateo demend immedlete • . .t�i�,,�.•
<br /> payment if the Borrower te not a neturel pereon end a boneficial Intareat in the Borrower Is sold or trensfarrod. However, Lender mey not , ��.,•�;:�_
<br /> demand payment In the ebove eftuetions If It te prohibfted by faderal law as of the date of thts deed of tront. ;'�'�"�`*'
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<br /> - ' 20. H�com�y�nc�.When the oblipatlon secured by thla deed of trust has beon pold,and lender hes no furthor obllgation to make advances
<br />! i , under the Instrumente or agreemente�ecured by this deed of truet,the Trustoe shall,upon written request by the Lencler,roconvey tho trust ` � . _
<br /> _ , property.The lender sheU deliver to the Borrower,or to Borrower'e succaesor In Intereet, the truet deed+�nd the note or other evidence of the f
<br /> oblipetlon so eatiefled.Borrower shali pay eny recordation coats. 1.
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<br /> 21. Succ�scar 7rustes. Lender, at Lender's opnon, meV romove �ruoioo an� aNw��•• ���•••.����• •.��,�� �. ..._., ..._.....e - --,.. -• = - -
<br /> � subatitutlon of truateo es raquired by appliceble lew,und thon,by filing the suUstitutlon of trustsa for rocord fn tho office of the reQleter of deeda f.
<br /> - suCCOed to all the powor tdutles88uthorty and tRie of tho Tru i e namod In�tho deod of truet e d of a Y�succe9sor t ustoe,of the property, shell
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<br /> ` " • OANKERB SYSTEMS,INC..ST.ClOUO.MN BBJ01 (1�80d-397�I3471 FONA OCP�M7C4NE 0/1891 .
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