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<br /> COVENANTB e��— 1t31�95 .� ...
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<br /> 1, Paym�nt�. Borrower apreea to meke ail peymente on the eecured debt whon duo, Unloee Barrower and Londer apreu otherwiao. any �
<br /> peymento Lender receivee from Borrowor or Por Borrower'e benefit wlli be eppllod tiret to any emounts Borrower o�vee on the aocured debt -_
<br /> uxcluelvo of Intoroet or principnl,eaoonci to intoroet,and thon to princlpal.If pnrtlal prepoyment of tho eocured Uebt occure for eny roeson,It wlll ,�:
<br /> not raduco or oxa�ao�ny achodulod pnym�nt untll tho oocurod debt�o pnld In full. �
<br /> 1,Clalm�ApWn�t Tltl�.Borrower wlll pey ell taxoe,essoeemente,ond other cherpes attrlbutablo to the proporty whon duo end wlll dofond tltle M
<br /> to tha propertY e0elnet any clalme whlch wouid lmpalr the Ilen of thls deed of tru�t. Lendor mey requlre Borrowor to eaeign any riphte,clnime or
<br /> defeme�whlch Horrower may hevo epeinet pertlee who eupply lebor or materinte to fmprove or melntaln tho property. �
<br /> 3.I��unnc�, Borrownr will koep the proporty Imured under termy accapteble to Londer at Barrower'e expenee and for Lander'e baneflt. All
<br /> Inaur�ncs policls�ahNl Include e�t�ndard marcpeye cluuae In favor o}Lender.Lender wlil be nemed ae loae peyee or ae the Inaured on eny such
<br /> Inwrance polloy.Any Infurencs proceedo mey b8 epplied,within Lender'�dlecretlon,to elthor the rnatoratlon ar ropelr uf tho damapod proporty
<br /> � or to the eecured de�t. It landor requlree mort a e Inaurenco,Borrowor eproea to malntaln sur.h Ineuranco for ae lonn ae Londar�equlroe. � `
<br /> ., ' � 4.Prop�rty.Borrowor wlll keep the property fn pood conditlan end meke ell repelre reasonably neceseery. ; -
<br /> 8.Exp�n���.Borrower apreae to pay ell Lender's expensea Inctudinp reaeonable ettornaya'fees,If Borrower breaka eny covenanta tn thfa deed
<br /> of trutt o�In eny obllpation secured by thle dned o}trust. �orrower wlll pay theee emounte to Lender ee provfded In Covenant 8 of thle doed of
<br /> " trott. • ..
<br /> 8.p�lor B�curlty IntusiU.Unleee Borrower flrst obteina Lendor'e written coneent, Borrower wlll not make or permit eny changes tu any prlor ..
<br /> securlty Interos3e. Borrower wtll periarm all of Borrower'�obligatlono under eny prior mortgape, doed of truet or other security agreement,
<br /> fnciudlnp Borrower'e covenente to meke peYmente when due. ' q
<br /> 7.As�l�nmmt ot R�nt��nd Protft�.Borrower asafpna to Lendei the ronts and profite ot the property.Unlesa Barrower end Lender have apreed , 'x.•���
<br /> othe�wlse in writing, Borrower mey colleat end retaln the rente ae long ee Borrower la not In dofault. If Borrowor dofuults, Lander, Lender's • ::- -
<br /> apent.o► a court eppolnted rocelver may take posaession and manage the propetty end collect the rente.Any ronta Londor collocte sholl be r"m�:;�;;:i�.y, .
<br /> applied firet to the coate of inenaging the propeny, Including court coets end attorneys'feee, commisalons to rentel agents, and any other ,
<br /> neceasery related expenaee. Tha remarnlnp emount of rents wlll than apply to paymonte on the securod debt ns providod In Covonant 1. ' � -
<br /> 8,l�p�hddr Condominlums:PUnn�d Unit D�v�lopm�nts.Borrower agroeF ta comply wfth tho provielons of any lease ff tid4 deed of trust ia on - � ---
<br /> a leaoehold.I�this deed of trust ie on a unit In e con�ominlum or e planned unit tlevelopment,8orrower wlll perform all of Borrower'e duttea �
<br /> under the covenant�,by-lawa,or rspulatlons of the condominlurn or planned unft development. ., _
<br /> ^ 9.AuUfo►ity of Lond�r to P�rform for Borrow�r. If Borrower tafli to�perform any of Borrower's dutles �nder this deod of truet, Lender may � L�'�"�
<br /> perform the dutiei or caute them to be pnrformed.Lender mey�Ipn Borrower's neme or pay eny amount If necesaary for performence. If any -
<br /> " conatruction on the property le dlocontinued or not carrled an In a reesoneble menner,Lender may do whatever la necessary to protect Lender's M
<br /> security Interest In the property.Thla may Inciude completinp the Conatructiqn.
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<br /> i Lender'�Toiluro to perform wlll not preciude Lender fram exercistnp any of it�other rights under the law or thie deed of truet. -'�`�� ��_
<br /> Any amounte pald by Londer to protect Lerder's security interest will be aecured by thle deed of truat. Such amounta will be due on demend
<br /> r ' and will bear Intereet from the date o}the payment untii pald In full et tha interest rate In eNect on the�ecured debt. •:: ..
<br /> 10. DHwit�nd AacN�nUan. If Borrower falls to mako an "° '
<br /> ��' obll atlon cecured b thla deed of trust or an Y Peyment when due or breake any covenante under thls deed of truat or any . ��=.,:�
<br /> p y y prior mo rt p a g e o r d e e d o f t r u s t, L e n d e r m e y a c c a l e r a t e t h a m a t u r i t y o f t h e e e c u r o d d o b t a n d
<br /> demand immediete p�yment and mey Invoke the power of eale and any other remedles permittad by applicable law. .�tij:,
<br /> 11.R�qu��t fa Notic� o}Dofault. it is horeby requested thet cop ies o f the noticee of defauit and sale be sent to oach person who Is a party rf�',1 '
<br /> � hereto,et the eddrese of each such peraon,se set tonh herein. ,��,�� �;
<br />-----_ '_= iT.�ow�r oP oaie.ii ina ivnder invokea iha power oi xeie,the iruetee si�aii fust recortl m tha ottice ot the regtater of deeda of each county — --':;;
<br /> wherein the truet property or some part or parcel thereof I&situatnd a notice of default contalnin9 the Nformation requlred by lew.The Trustee _, s7
<br /> ahell also metl coplee of the notico of defnuit to the Borrower, to each peraon who is a perty hereto,and to other pereons as prescribed by ti.
<br /> ��� appliaablo law. Not less than one month after 4he Truatee recordo the notice of detault or two monthe If the trust properry le not in any '�: �: ��
<br /> incorporeted city or village and la used in farming o�perations carried on by the truetor,the frustee ehall pive publlC notice of aale to the persons � �f
<br /> and in the menner prescribed bV opppllaable lew. 7ruetoe, without demand on 8orrower,shell sell the property at public euctlon to the hipheat , •1
<br /> • bldder.If requfred by the Ferm Homeatead Protection Act, Trustoe ahell offer the property In two separete nales ae required by appliceble law. ���; .:r.
<br /> Trwtee may postpana sale of all or any parcal of the p►operry by pubiic announcement at the time end plaCe o!eny previousty schedulAd eale. ,,�.::.
<br /> , Lender or its designee may purchase the property at any eale.
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<br /> Upon rece{pt of paYment of the price bid,Truatee shall deliver to the purchaeer Truatee's deed conveyinp the property.The recitisl�cantsinad in
<br /> Truatee'e tleed ahall be prima facle cvidlence of the truth of the etatemente conteined thereln.Trustee ahell apply the proceeda of the sate In the
<br /> , followlop order. lel to ell expenses of the eele, includinp, but not Iimited to, reesonabie Trustee'e feee, reeaonable ettorney's feee and °— —
<br /> . reln�tatement feee;lb)to dl eumt secured by thla deed of trwt, and(o)the balence,If any,to the pereona Iegaliy entitted to►eceive It.
<br /> �� 13.Foncinsur�.At Lender's optlon,thla deed of truai may be foreclosed in the menner provide by eppticeble taw for foreclosure of martyepes �,��
<br /> on real property.
<br /> 14.Imo�ction. Lender mey enter tho properry to Inapect It If Lender pivea Borrower notica beforehand. The notice muat state the reaeonabie --
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<br /> �auss for Lender'a Inapection. -
<br /> 16.Cor�mn�tlor►.Borrower aselp�na to Lender tho roceed�of eny eward or cleim for dame�gea connected with e condemnetion or other taking -
<br /> of eli or eny part ot the proporty.Such proceeds wiP be applled ae provided tn Covenant 1.Thfa asulgnment Is subjoct to the terms of any prio� -
<br /> security epreement. -
<br /> 18.Walv�r.By exerclsing any remedV avellable to Lender, Lendor doea not give up any righte to leter use any other remedy.By not exarcialnp � -
<br /> _ any remedy upon Uorrowor's defeutt,Lendor does not weive any right to later conalder the event n defeult if it happena egain. --_ _ _ '
<br />-- 17.Jdnt snd S�wr�! LI�D{Ifty; Co-siyesn; Succ��aon snd Assign� Bound. Ali dutles under thle deed of t►ust ere Jotnt end eeveral. Any
<br /> _= Borrower who casipns tNs deed of truat but doee not co•eipn the undertYfn debt tnsuument(s) does co only to prent end convey thut ' `'�'°� Y�
<br /> '*`••�•��•- Borrower's interoat In the property to the Truatee under the terms of thta deed o�trust.ln addition,such e Borrower agreea thet the I.ender nnd �,•'�.�_,:__-_,
<br />��"�,:..:•: any other Borrower undor this deed of trust may oxtend, modl or make any other chanflea in the terms of this dead of truat or the socured '"r�
<br /> . ;„�. debt wkhout that dorrower'e consent end withaut releaeinti th�t�orrower from the terms of thle deed of trust. �
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<br />, The dutiea end boneffte of thia deed of truat ehall bind and benefit the succeasoro end aselgne of Lender and Borrower. w �r
<br /> 18.NoUc�. Unlans otherwiao required by lew,any notice to Borrower shall be pivan by delivarina it or by malling it by certifled meil eddressed to �.-`1'�,�"" �c�:`�}
<br /> Borrower at the properry�ddreea or any other addreae that Borrower has given to Lender.Borrower will give eny notice to Lender by cortified .:�:::j.� '• "
<br /> mall to Lender'e edtlre�s on pepo 1 of thie deed of truat,or to any other addrese whfch Lender hen designated.Any other notice to Lender Rhall •;•�;;;.'•p'� �;;'"�
<br /> be cent to Lender'a addreaa ea stated on pape 1 of thia deod of truat. -.N..,�.,-;
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<br /> Any notice ehall be deemed to have been given to Borrower or Lender whon given In the manner stated above. • • �
<br /> 98.Tremf�r of th�Proptrty ar�B�mftcis►Intenat in tha Borrawer.It u�l or any part of the pr�porty or eny Interest in{t fs sold or transferred
<br /> without Le�dor's prior written consent, Lnnder mey demand Immediate payment oi tho socured debt. Lender may elso demand Immodlate
<br /> payment If the Borrowe� la not a naturat poraon and a boneficiai Intereot in the Borrower Is sold or trenaferrod. tiowovor, :ondor may not
<br /> demend peyment In the above situettona If It Is prohlbited by foderai lew es of tho date of thfs daed of trust. �
<br /> 20.R�conv�y�nc�.When the obligatlon aecurod by this deod of trust has beun pald,and Londer hes no furthor obligetlon to maka edvances �
<br /> under the Inetrumenta or agreemente socured by thla deed of trust,the Trustee shall,upon written request by tho lender,raconvey the truat �
<br /> praperty.The Lender ehall dellver to tho Borrowar,or to Borrowor's succeasor in interest,the truet deed and the note or othor evldonce of the
<br /> obllgation so setiafied.Borrowar shail pay any recordetlon coate. �
<br /> � 21.Succ�ssa Tru�ta�. Lender, at Lender's option, may remove.,Truatoe and,appoint a succossor vustoe bv first, meilino a conv of thn
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<br /> ac�o......��s:,�.°.:a.oa ao:oy�:�ta,�r nyyoi,u`uio�aw,anu�non,o inmg tna sunanmtion oi ttuatoo tor rocord In tho offico of the�egistui of doods
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<br /> of oech county In whlCh the trust property,or some part thereof, Is sftuated. The succossor trusteo, without conveyance of tho proporcy, sholl
<br /> succeed to ell the power,dutios,authorlty and title of the Truatee nemud fn tho deed of truet and of any successor trustee.
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<br /> BANFER9 6YSTEMS.INC.,ST.CLOW,MN 6630t 11•E00•997•P3411 FORM OCP�AIT(�NE 6/19/81
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