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<br /> -�� , � 1. Payme�.Bortower 8�aas to make all psymerts on the sec�ued debt when due. UNess Borrower and Lender agree ott+erwise, any • ; "•4,`�.` ''
<br /> ' � PaytnmKB I.ender rece[ves hbm Borrower or.fol9ompwer'e-0enef�ar�t-0e ' d first w anyr amovnts Ba�rawrer owes an tha s$aued dest . .
<br /> . � exciuslve of fntarest m pNndpaL seeand to sL.�t�tto{utAaipea.li prepayment of the seaued debt oexurs tor airy reason,it v�n'U ° � ;�«�' ��
<br /> � ' not reduee or exwse any seheduted peyme ntft t�e eeeured��i�Qg[�in fu . •
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<br /> � . '"`•-�` � Z CBe1ma A�gayinsqt�T�fHe.Bortower will pay aU .�n�nf�r 81:d��e3f9t� stuibuteLie to theproPartli wh¢n due and w,'U defand tiHe :�`.:;� -: ..t
<br /> ` ..`�,�•,. t� def�en.ses v+hld��Horrowea may heue�against Darties who supAN lab�a matatlala toe i�o�ve ory�m�ta�irai BUa1 rro��assign any dgMs,ctaims or • �.. �• �
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<br /> � � ` � 3.tc�aaaee.Borrower will keep the property insured under tprma acxapte6te to Lender at BorrowaYs e�anse end for Lenders benefri.AU `, .�"`� �
<br /> ` " insurance poiides shatl Indude a standard mor�gage dause in lawr of lender.lsnder wiQ be named as tuss payee or as the Inisured an a�sueh � �
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<br /> , insur�nee policy.My insutanea proeeedss mey 69 apP�ed,tvithin Lend@r's d'isaetion,tn efthsr the restoratlon or repair ot tha damaged property •� �=��
<br /> . . or to the ssc�ued dabt if i.ende►re�hes mortgage ms�ance.Barrower agrees to metrKatn such insraance tnr as tong as Lender reauires. � � � '
<br /> • � . =.:�.�. '4.Prop�ty.Bortower wil!keep t1re properiy in gao0 condition and make att rapairs reasonabiy neeessary. .- ` �
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<br /> , � �Y � 6.Expensoa.Borrawer a�rees to pay all l.ender's expenses,indu�ing reasonabte attomeys'fass,if Barrower breaks any covenart�In tNs deed ,>
<br /> ot tn�t or in arry abOgatten sectaed by th(s deed of tzus�t.Bertower will pay Ufese amounts to LenQer ea provided'm Covenam 9 of this deed of • �� '�•
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<br /> 8.Prlo:Seaufty d�tarest�.Unlesa Bartower ferst obiaHu Lenders written eonsent,Barrower wi0 not make ar pertnit any ehanges to arty prtor ����
<br /> , securiry imerests.Borrower wn71 perform ail of Borrowefs o6figations under eny prior mortgage,deed of trust or offier seauity agreement, `: ��""_'_'
<br /> ':,-c in�iu�ng BorroweYs cavenarrts to make paymems whan due. • ``�
<br /> . . . . ' ` �.' .` .y'�i,�::_...
<br /> - -- ° 7. gnrttern of Rems and RroSte.Bonower assigns to Lender the reRts and pmfrta of the propsrty.Unl�s Bartower and Lender have agreed . : ...�,�-::�•
<br /> � :��l oUte�rwF,e tn wriUng,Borrower may colteei and reta3n the rer�as Iartg as Bortoarer Fs not In dafautL If Borsower defautts,Lendar,Lender's �^ ��,•� . _-._-
<br /> agerrt,or a oourt appaTrrted receiver may tafce possess►on and manage Uie property and oollect the rer�.My rert�lender collecls shall he �-_
<br /> . ` ' eD0lied fitat to the oosts of inenaS�B the pmperty, ine[uding eourt costs and attomeys'fees,eommissians to�ente!8gerns,end arry other �
<br /> , - necessary retated expenses.The remamJng amourtt of re�ta vin"II then appfy to paymerrta on the secured debt as provided in Cavenazrt 1. > -.�._�__
<br /> ` � $ • 8.L88sehoiQs Cactdomtrtlwn8�WatutBd Unit QavBtapmertts:Bonower a8rees tn compiy with the provisions ot any tease ff tNs deed o!uusi is on �:.F.�"��
<br /> •. a feasefiotd.I�this deed cf uust is on e unit in a conQommium or a pfarmed unit developmerft,Bartower wi0 peAarm eU ot Bortowers dudes
<br /> , •� �:• under ths covenas�ts,by-taws,or regutatIona of tfte candominium or planned untf deveiopment
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<br /> � 9.Avtfiority of Lend�tn PeAorm for Barmwer.If Barrower taIIs m�erform any of Borrowefs d�es under tbis deed of trust, LenCer may ---
<br /> " '�`" perfotm the duties or eause them w be per[armed.Lender may si� orcowers�ame ar pay any emoernt it aeeessary tor performance.(f atty � _
<br /> . ` cansVuction on theproparty is discomiwed or not carried an in a�easonabte manner,Lender may do whataver is ne�rti►to pratect Lenders `.�.ti : ::-
<br /> � seciuityr tnterest in the prope►ty.This may induQe compteUng the consuuetlon. -
<br /> � ,•r:� _
<br /> • , , LenGel's faTute to perform v�n�l not predude lender from exerclsing anyr of its other righte under the faw or thia deed of trusG --
<br />__ , ��{ Ami amounts paid by lender to prptect Lender's security irterest w311 bs seciued by thts daed of v�r.Such amourrts wi11 be dua on demend -
<br /> :_ : " �, _ _ �and xn716ear irtterast trom the date.of the payme�rt until�aid fn tull at the irterest rate in effect on the seared Qebt � --
<br /> � „;�•� obriga�ti'o��d b�y�i�s deed oeotrust or a�rsy��iornmortg ge or de8d oWfhetrust,�Lender ma�yr ac�cete�i�a�te�9 m nder this 8eed of trust or erty � �t,• �.,,',-
<br /> anutty of the secured debt an�f � �;.,r`�
<br /> � , � Qemand immediam payment and may imroke the power of sate and arry otfier rertredies pe►mitted by applicabte law. ,;,�
<br />_4 •r • � .'�� 17.Regitest iw Nottce of Dofautt k ts hereby requested that copies of tAe notices of detautt and sete De seM to eacA person who is a party .,� . _`��3'�.�`9
<br /> . _ hereto,et the aQdrass of each such person,as set forth herein. ---
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<br /> � � 12.Powo of SeSe.tf the LenQer tnwkes the power of sale,ffie Trustee shali first recard in the otfice ot tda register o!Qeeds of eacf►county • _
<br /> - . wherein the trust propeRy or some part or parcel thereflf is situamd a natice ot detautt corrtaininD the irtformation required by taw.The Trustee
<br /> • • : shaU aiso mail copies of tAe naUce of defeutt to the Banower,to eacfi person who is a party hereto,and to otAer persons as prescribeQ by
<br /> applieable law.Not tess than one mortth after the T�e records the noUce of defauit,ar two momhs if the Vust properry is not in any �
<br /> � , �:- incarporated city or vNage and is used in famvng ouereUons carried on 6y the wstar,tha Trustee shatl g'rve pubBanoUee of sale m t�e persons ---_
<br /> ,. •� � and In the manner prescribed by_appplicab(a(aw.7rustee,without demand on Borrower,ahafi se0 the propertv et pub►fc auctton to the hfghest ' ,-'�
<br /> bldder.If requUed E the Farm Momestead Protection Act.Trustee shall of[er the property in two separate safes as r `�'=�
<br /> • . ;g�:.; y equired 6Y eDPpca6te law. �,:__.
<br /> • Trustee may Rostpone eate of all or any parcet of the property Dy public announcement at the Ume and place of any previousty schedufed sate. f:,
<br /> , Lendar or its designee may pur c h ese ths property at any sa ls. � ` �.
<br /> Upon receipt o}paymern of tha price btd,Tnist�ae ahall deliver to the purchaser Trustee's deed conveying tfie property.The reciUats contained in �
<br /> • � Trostee's daed shatl be prima taciB evidienee of the vuM of die atatamerna carttained therein.Trustee shall appty the proceeds of the salo in the � f x1V�'�'
<br /> • ' ' toQowing orEer: (a) to a11 expensea ot the sate, inctuding, but not Gm'tted w, reasonabfe Trustee's tees, reasonab)e attomeys tees and
<br /> � . teinstatsmem fees;(b)to all sums seaued by tfils deed ot uw^t,and(c)the batance,if any,to the persorts legatfy entitied to recefve It. � � ���'�?-:_'
<br /> . •� •, 13.Fareclos�rte.At Lenders opUon,this deed of trust may be toreclosed in the manner provide hy apptica�te Iaw far forectosure ot mortgages .•°�,"�'.
<br /> on�eal property. , ___
<br /> 14.IruDecHon.Lender may enter the property to inspect it if lender gives Bortower noUce 6etorehand.The noUce must state the reasanable �•�� -
<br /> ' cause for LandePa inspection. , --
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<br /> � _ � 1b.ConQamnaUon.Bortower essi ans to LenQer the proceeds of any award or ciaim for dama�ges conneeted witb a eondemnatton or other taking � - �
<br /> � of att or any part of the property.Sucfi proceeda wiit be appNed as prov(Hed in Covenans 1.7his asstgnmeM is subJect to the terms of erry pdor -' ��;
<br /> . . . securhy agreement. .
<br /> � t8.Waiwr. By exercising any remedv avaitabte to lende►,LenQer does not give up any rights to later uae any othe►remedy.By not exercising � �• :�
<br /> - arry remedy upon Borcower's delautt,Lender does not walve any dgfit to later considet the ewnt a defauft if h happens again. � ' -��
<br /> . 17.Joirtt und Several tiab�; Casignera;Succoasoro and Assi�a Bound. Ail Qutias under this deed of trust are joirrt end several. Any � �
<br /> ' Bonower who co-aigne thla deeA of trugt but does not eo-sign the undorlyin� debt inaVument(s) daes so only to gra�and convey that � • :
<br /> . . .. . •� Borrower's interest in the property to the Trustea unQer tAe terms of this deed o trust.In eddlUon,such a Bortowor agreas that the Lender an0 '
<br /> r any other Boaower unQer this Qeed ot trust may extend,madltv ar make any other changea In the terma of this Aeed of Vust or the secuted ' '
<br /> , Qebt wlthont that Borrowar's consent and wlthout releasing that�onawer irom the terms ot this deed of trust. . '
<br /> �„ ' The dutles and benefite of thia deed ot vuat shail bind and benefit the successora and assigna of lender and Bonower. • �
<br /> � � ' 18.Notico.Unlesa otherv+rlse required by law,any rsotiee to Bortower shall Ee givan by deiivering it ar by maitlng it by certifted mail addressed to . •
<br /> , �. , Bonower at the pro�erty adQresa Or anY othar addresa thet Barcower has aiven to Lender.Borrower wiil give any notice to Lender Dy eerUfled • - .
<br /> � mail to Lender's aQdresa on page 1 of this Qeed of trust,or to arry offier address wfitefi LenQer has designated.Any other notice to LenCar shatl --- �
<br /> - . be sent to lenQer's addresa as stated on page 1 of this deed of Vust. . , . . ,
<br /> :,.� - • Any noUce shatl be deemed to have been given to 8orrower o�tender when given in the manner stated above. �
<br /> 19.T�anatar oi tho Proporty or a Bonoflctal irttarest tn thB Borrower.If ail or any part of the property or any Interest in it la sold or Vansferred .. .
<br /> . • � withou!Lender's prior wtitten consent, Lender may demand immediato paymant of the secured debt. LenQor may atso demand immodiato �
<br /> . ; � paymertt if tha 8ortawer ia not a natural DerBOn and a beneticial intere8t in the Bo►rower is sotd or transforred.However, lendar may not
<br /> demend payment in the above situaUans i!it is prohi6kad by tederal iaw as of the date of thia deed of trust.
<br /> �..� Y0.Reconvayanco.When the obiigation secured by this Qeed ot Vust has been pald and Lender has no further obtigation to ma&e advanees • '^�, �.
<br /> , , under the instrun�ents or agreementa secured by this deed of Vust,the Trustee shalf upon written request by the Lenaer,reconvoy th�trust
<br /> . . • oblienUon so saUstiedBBoirrowei sha Itpay any/e�rdetlonB�rsotewer's succossor in lnterost,the uust deed and the note or othor evidence of the �
<br /> 21. Suceessor Trustee. Ler�de�, at Lender's option, ma�r �emove Trus�ee nd appoint a successor Vustee by firat, maipng a copy of th9 �
<br /> . subsUtution ot Vustee as�equired by applicabte aw,and then,t�fiting tt�su sU! ion ot Vustee for reeard in the oftice of the ragister of Qeeds •�
<br /> of each county in which t�e trust property,or some part thereoi,is situ$ted.�'+The uccessot trustee,without conveyanee of the proporty,aha{1 '
<br /> . . � succeed to aU the power,dutios,authortty and titt�►of the Trustee named fn th de of bust and ot any succeasor Vustee. • .
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<br /> . BAHKEHS SYSTEMS.INC..ST.CLOUD.MN 58301 I1•SOa39743671 fOfiM OCP-M16NE 8f19�91 '
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