|
' .- ({.f:` . . . -
<br /> . . . '�:.1.`:. a'G,.
<br /> .- - � � ' ` - • , `c . - " - [ . -- �-.— .. _ ' .`r, _ c ' _
<br /> • ' �- � 'd. . � . . 3 . - ' ' - . . - . � . .. .._-u�.v_i_-��- ' - .
<br />�. �. � r _..___�--.._ _�f�_.���.�L— -. _ . , _ . __...�._. � . .... - �":. .. . :.._. . . . . ... .._. .. , _ . . �( ,('. .. '�. •c
<br /> . . . ��� . � '•���.`..
<br /> ' , ) CONENA(VIj$ i ��/` .o.• .
<br /> . . 1. p8ymerRS. Bortower agrees to make ali psyments on thenafit vnll be appfed first to any�amou�8��er ow�on���d debt ' -
<br /> - ' ' `5� payments Lender receives from Sovowec or ior Bortower's b ,. �
<br />- • ' exdvsive oPirrterest Cr principal,seconsl eM u I�me eaxe0 deht s pa�id m tu11a�prepayment of the secured debt occurs for any reason,it wiil , t
<br /> . `� nat reduce nr exeuse any acheQuted Paym
<br /> � . ;� 2.qstme Against TtUe.�ortower wwhich would pa�the Gen af t1i�deedeof tr�ust.Lendebmayr e4u'��re Bo Power to eass 9n anY 8��hts cla ms oe , � `� ,
<br /> tp the propertV egainst m�]►��� ( Iabor or materials to improve or mairnein the properry- � r;�:. ,
<br /> • t detenses wNch Borrower may have against parties who suAD Y .
<br /> ,� , ; 4 , ",•� 3,If�suranee.Bortower wiit keep the propa�tlt��ed under teems accepta6le w Lender at Bortowers exPense and tor 6.ender's beneftt.AII �.
<br /> � insurance Policies shatl include a standard martgage Gause�in LenQe�sddiscretion twa eltfiei U�ie restora�tjopn ar�e�paisaf�the damag d pryopertY
<br /> . . �{ insurance RoGcy.Any insurance Proceeds may 6eap p ed. . . , . ... _
<br /> +� � or to the seeured debt If Lender requires murt9age insura��.B°nO1^�r agrees to mairttain svct+insuranee to�as�ong as Le�der requRes.
<br /> � f �n ood condition and make all repairs reasonabiy necessart!• �
<br /> ' 4.pmpertyr-Borrower v�rill keap the property 9 -.
<br /> " � y.6cyenses.Borrower a�rees to ReY etl l.ender's expenses•includi�g�easonable attnrneys'fees.'rf Borrower breaks any covenarts in this deed _
<br /> � ot vust or in any obligaUOn secured by this deed of trust-Bonawer witl pay these amounts to Lender as provtded in CuvenarR 9 of this deed of f
<br /> c
<br />.. . � VUSt• '� .
<br /> 5e�.�y��g��.�goR wer�wip e�frtomi all ort BoROwers obl gatronseundar amr P or mortgage�deed nf�trust or otanherseasrity a9 m M -- • -.
<br /> �, � errts when due. i � =.
<br /> _< ' ; in�i u d i n g B o rtow e P s c o v e n a n t s m m a k e p a y m p Unless Bortower and Lender have agreed -- �,
<br /> _ : .-
<br /> F� ;�� �.pss��mnent of Re�and Rof�es.Bortower assigas to Lender tha rents and proftts of tha roperty. t . _ -
<br /> atherw�se m writing, 8onower may co��ect and retmn the rerrts as long as Borrower is not m defauit. lt Borrower defaufts,Lender,Le�dePs
<br /> 1 age�or a��appo�Med receivermaY take Possession and manage the property and collect the rents.Any rents Lender coliects shall ba «
<br /> ; i apPlied first to the costs of managin�the OroP@►�Y.indudn�caurt wsts a�d a�on,the�s�ecued Cebt a�s pr�ovided in�venant 7�y�er `+,.c:i `_�t`<
<br /> � ndcessary retatfld exPenses•The remaming amourt of rertis innll then apply to payme � �`:f
<br /> . . 8.Leaseho�ds:Ccndomini�:Pianned Umt Devetopmer�..Bortower agrees to compiy with ths Pro�ions o f a r ry l e a s e"rf t h i s d e e d of vust is on `+� � ,;;�•`•t,-,
<br /> a teasehold.If this deed of Vuat is on a unit in a condominium w s Plann9��davetopmert.Bar.awer w�'1�PB��atl ot Borwweds duties ;Y �
<br /> • • under the covanacrts,by-laws,or reSutations of the condominium ar Otanned unit devetopme�t. � . .
<br /> � ��.s erfor�m t�he dutse�s�or ca��e th�em to be Pe[tor�neaf�de1r may signBo owersnname or P Y e Y em�im4�f ne�cessarY forGe�rfOrmanceetf any �. �_,
<br /> -. to rotect Lender's . � �-
<br /> ` ' constructien on the property is discaMiriued or nni carried on in a reasonahte manner,Lender may do whatever is necessarSl P .:-:��
<br /> ':';. '� securitY interest in the pmpercy.This maV irndude compieting the construction. • . �.,;:r:•,
<br /> . '. t ,.:..� .6.._;
<br />_- : ..�. f : ,�. .. .
<br /> Lender's taifure to pertortn�nnli not preciuds Lender trom exercising any of its other rights under the taw or this deed of trust. t1` . � �.�.,
<br /> %. 1 -- �
<br /> Any amaunts.paid by Lender to protect Lender's securi[y interest will be secured by tAis deed of vusK.Such amouttcs wi��be due on demand �._,,�
<br /> :' � and wiil bear u►terest from the date of the paymerrt until paid�n full at the irrterest rate in effect o�tfie secured Qebt � �_
<br /> .,r� a ent when due ar 6reaks arry covenar►ts under this deed of trust or any �:..�.".�."
<br /> 10.DetauEt end Aeee3eradan.If Bonowet fails to make any p ym `�'
<br /> ' � �'� obligaUon secured by this deed of mist or any prior mortgage or deed of trust,Lendar may accelerate the maturity of the secured debt and , � ;�;�,;s
<br /> ' '� ° ' demand immediate payment and cnay invoke tha power of sale and anY other�emedies permitted by apD���b�e�8W .. n '�? �,�
<br /> L � ' 11,Re�est for Nottce of Defmdt.It is hereby requested that copies of the notices of dafauR and sate be sert to each person who is a party ��
<br /> :2 ' hereto,at ihe address of each such person,as set farth fierein. . ����'°`
<br /> �r:�r-
<br /> , ,'. � . .�� 12.Power of Sale.If tfie Le�der invokes the power of sale,the Trustee�natl flrst record in the office of ihe register of deeds of eacfi county . ; u }�.�
<br /> wherein the uust D,roAerty or some part or parcel thereof is situated a notice of defautt coMalning�eo�e�d o ottie4person�.s fas prescnbed bY S �'?'
<br /> ..;.� shall alhie Iaew.No et�s�an one mon h fte the Trustee records the n Uce ct defauitp o�two mortths if the Vust Droparty is not in arry ; _
<br /> appiica
<br /> incorporated ctty or vit lage an d is us e d i n f a r m i n g ope r a t i o n s c a rt i e d o n b y t h e L v s t or,the Truatee shall g'nre public notice of sate to Me persons '..�
<br /> and in the manner prescribed by�apppiiCabie law.Trustee,without demand on Borrower,shall seil t he prope rt y a t p u b l i c a u c t i o n t o't h�ebte 9law. . - _
<br /> bidder.If required by the Farm Homestead Protection Act,Trustee shaii offer the property in two separate saies as tequired by app' ;^�
<br /> � � Trustee may postpone sata of a�l or aml parcel of the Property by pubiic announcamertt at the time and place of any previously scheduled sale. . t
<br /> ,,} . Lender or its designee may purchase the property at a�y sale. �_ _�_
<br /> Upon recei0t of PaYment of the price 6id,Trostee shail deliver to the purcheser Trustee's deed conveying the property.The recitia(s carrtaineA in � :
<br /> . Truste n S erders(a)to peimexpens sV of the ealee includ nph butenort lim t d�to+n teaso�naWe Tr�ust�a s8foes�yreaseonable attom8�s$tees aRd »•��
<br /> � .1 foliowi g - ,a°-��
<br /> reinstatement fees;(b)to all sums secured by this deed of trust.a�d(c)the baiance,if any,to the persons tegaliy emitted to receive it. . +t
<br /> • ���
<br /> � 73.Foreclosure.A4 Lendet's option,this deeA of uust may be foreclosed in the manner proviQe by appticabte taw tar foreclosure of martgages t,: -,�r_:
<br /> ' on real property. � �°'•R-
<br /> '!4,tnspeadon.Lender may errter the property to inspect it if Lendar gives Bortower notico beforehand.The notice must stete the reasonable •-�
<br /> . • . . cause tor Lender's inspection. .. �.;.+;�.
<br /> 76.CondemnaUon.Bortower assigns to Lender the.�roceeds of any award or ctaim for damages coruiecced with a condemnation or other taking _
<br /> of ail or any part o!the propertY•Such proceeds w�1 be apptied as provided i�Covenant 1.This assignment ie subject to the terms of any prlor
<br /> � - security agteement. .
<br /> � . 18.Wahrer.By exercising any remedv avaitabte to Lender,Lender daes not give up any righta to later use anY other remedy.By not exercising ,
<br /> any remedy upon Borrower's defauit,Lander daes not waive any right to Iater considar the evant a defautt if it happens a8ain.
<br /> ' , ' � 17. Jo1rR and Sever�il L1a6ili�y Co-atgnera: Succeasore and Asstgn9 Bound. Ail dutiea under this deed of trust are joint and saveral.Any : . •.
<br /> Bonower who co-signs thla deed of Vust but does not casign the under1�ng debt lnsuumentls) does so only to grant and convey that
<br /> ; Barrower's interest In the property to the Trustee unde�the terms ot thls deed of trust.In addition,such a Borrower agrees that the Lender and ;�
<br /> anY oth�r Borrower under this deed of trust may eutend,modity ot make any other changes in the terms of this deed of trust or the sewred
<br /> ' � debt wlthout that Borrower's consent anA without releasing that Bortower from the terma of tfiis deed of vust. •
<br /> � •�i The duties and beneflts of this deed of trust ahall bind and benefit the auccessora and assigns ot Lender and Borrower.
<br /> ' ' 78.Hotice.Unlesa otherwise required by law,any noUce to 8onower shail be given by deiivering it or by,maiting it by certifled mail addressed to •
<br /> �'.� ' . Borrower at the propertV addresa or any other address that Borrawer has given to Lendar.Borrower will give any notice to lender by cettifled
<br /> � � be sent to lende rs address as st ted onip 888�of this A od of trustther address whicA Lender has designated.Any other notice to Lender shail ,
<br /> , : Any notice shall be deemed to have bee�given to Borrowet or Lender when given in the manner steted above.
<br /> ! 19.Tranator of the Property or a Bcnoflciol Urtorest in tho Bortawer.It aIl or any part o!the propertv or any Interest in it ls sold or transTerted .
<br /> �;�;�; ' ? without Lender's prior written consant, Lender may demand immediate peyment of the secured debt. Lender may also demand immediate ,
<br /> � payment if the Borrower i9 not a natutal pe►son and a benef�e�al interest in tho Botrovier is sold or transterred. However, Lender may not
<br /> ' � demand paymont in the above situations it it is prohibited by federal law as of the date of this deed of trust.
<br /> 20.Roeonvayanee.When the obligation secured by tfiis deed of trust has been paid a�d Lender has no furtner obllgation to mako advances
<br /> under tho instruments or agreemente secured by this deed of uust,the Trustee shalf upon written request bY the Lender,reconvey the trust
<br /> I property.The LanQer shatl detiver to the Borrower,or to Borrower's suecessor in intereat,the t�ust dead and the note or other evidence ot the
<br /> ,;�� � obligation so satisfied.Borrowet shall pay any�ecordation eosts.
<br /> 21. Succassor Trustao. Lender, at Lender's oCtlon, may remove Trustee ard appoint a successot trustee by fltst, mailing a.copy ot the
<br /> I substitution o}trustee as required by applicable law,and then,6y filing the 8ubstitution of trustee for record in the office of the�eg�ster o!deeds
<br /> ' � suc e d to allihe power tduties authorit�y end t Ue of the Tru tee named in the QeeA of Vust end of any�successor trustee.o}the property,shall .
<br /> , � ' �
<br /> , •� . .
<br /> rpage 2 of T� �
<br /> • t
<br /> � BANKERS SVStEMS.�NC.ST CIOUD.MN 58301�t 80P397-73411 F00M OCP MT6NE 6�79/91 . .____ - -
<br /> . i
<br />— -� . . `� �.,---- ---
<br /> i; � � •
<br /> i ' .
<br /> �_.,. , ,:r, — - -
<br /> �•., .
<br /> :
<br /> .76' . . .- . .. _ . ... �•. .� • ..�..... .�.1... �. . . •'- .•- ....•:.•� . i ......�._. .�� . .._ .. ..,�_..�! t........a.r�.�l��..,.....�..�.._..rrt:.ax3mrda..ss.m.ame._�
<br /> .. .. . . . .. .. . . _. +�'- z .i:i. �'!+l' -r�..
<br />
|