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<br /> � � � 1. Paym�srts. Sortowar egrees 4o meke aU paymems on the secured de6t when due. Unieas Sorrower end Lender e o e � �� ,.; o•',
<br /> gaymenCC Lender receivea tmm 8orrower or Tar Bortowar's Der.efit wiii 6e appQed f6st to erry amounts BoROwer owea on Ne seaued dsbt - •
<br /> �::,� .' , exuustve af iM�reat or QNncFpal,second to irtmesL and then to princiaal.t!partal PrepaymeM of the secured deht accurs tor any reason.it wili �•�'�`. :,ff�
<br /> . . ' .. n a t�e d u c e o r e x a s e erry s e h e d u l B d pn y m e�l t u n t il t h e s a c u r e d d e h t i s p u d in f uU. • -
<br /> • ` . . .•-• ` Z,�ai�CS p�inst�.gorta,xires'yyi11 paY ell�xe��ss�asmer�.end mher charges amibutabie to tha property when due and wUl defend 6tte � ,- •`�;`,,-.
<br /> to th0 propaity a any,dmR�9�vhich.Hto im tt�l�en of tNs 6eed ot bvst Lender mey�equUe Bartower to assign as�y rights,daima ar '� -.. , �
<br /> �' ` .`'',,.� defenses wNeh oROwer may have ega�4st pm4A8. .o dvpDN�or matBdeta to improve or mairetain the property. .�` • .: � .
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<br /> ' ° ' 3.fnsvraiese.Hortav$e�v�i11,.R8@p th�prope[ty(ns�xedamder terms ar.ceptaGte to lender at Borrotiver's expense and tar Lender's beneTrt.Q11 •
<br /> ` , � inSUlenCB p01it309 5}1811Tnctude a standard mortgage dause in fawr of LonQer.Lender wi116e named as loss payee or as tAe insured on any sucA '��
<br /> Insumnoe poil�y.My insuranee proeeeds may 6eapD��ed,within LenQer's disaetion,co either tho rostaraLton or repair of tfie damaged preperty
<br /> or to the seeure�debt.If Lender requires moRgage tnsutanee,Banowet egrees to maiMeln eucA insurance for as tong as Lender reQulres. .`� _.,;;:.-'�
<br /> . ; � `` 4. Borrower wi0 keep the property in good eondition and make all repairs reasonably necessary. ``°� �=�
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<br /> . •�`'�°� �` � 5.Exaanses.Bortower egrees to pay a11 lender's e�enses tnetud�ng reasonabte attomeys'teea,if Bortower hreaks arry covenarts in this deed ` �
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<br /> of trust ar in arry oEligation seared 6y tAfs deed of trusY.�orrower wiil psy these emounta ta tsnder as providad in Covenarrt 9 of this deed of �
<br /> -- - - =. ttust. -' -
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<br /> ` 6.Pdot SoauIty(nterest�.UNess Bartower firsi obtetns lendefs writteo consent,Borrawer vh11 nat maice or permit any ehanges to any prior ?O'�'
<br /> sewrity intere&te.Borrower wilt perform ail of Borrower's ob[igatlons under any prior martgage, daed of trust or other security agreement, �'•E
<br /> � . , � , inctu�ing Bortowers wvenartts to make payments when dua • �
<br /> . T.AsaJg�tterR of Rertt�and Piofio�.Bor►ower assi�s to Lender the reMe and profi�ot the property.Unless Bortower and LenQer have a�eed . �.s .•�.:� ;_•.;
<br /> • � � otherwiss tn+nrsiting, Borrower may toReCt and retatn the rertts as fang es 6arrower is not in Qefautt. If Bor►awer detauJts;tander,lendefs '«;� ,,�.._�=�
<br /> � age�►t,or a eaurt apgomtad recetver may take possession end manage ths propsrty and eoileet the rents.Any rents Lender coiteeta shail be �r+f�`:_"�-.
<br /> �' � , appiied ftrst to the casts of managin the property,Inctuding court wsts and attomeys'fees,commissions to reMal agents, and any other � _ -, -__
<br />� , neeessary ralateQ expenses.The re�ing amount of rems uvill tl�en appty m paymems an ttm sec�ued debt as provided in Covenam 1. � -=-_
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<br /> �� . `°`y` 8.Leaseholds�CondominLuns;Ptmmed Unfi Devetopme�.Borrower sgre es to eomply with the provtsions of any tease it this deed o!trust is on .�`�`` . . -_
<br /> � ,. � - a teasehotG.l�tliis deed of Uust is on a unii in a oondominium or a planned unk developmerrt,Borrower w71 perf+orm all of Borrowers da6es
<br /> � . � ; . . `� under the covenaMS,by-taws,or regulations ot ffie condominium or pianne�unit QevetopmeM. � _ -
<br /> . . � : f: 9.AuQwrhy o't tendar m Perfarm for Barmwer.t!Bortower fails top ertorm atry of Borrowera dutles under tlds deed of trust.Lender may �'"'j`
<br /> • • pertorm the Quties or cause them to be pertormed.Lender may stgn Bortower's name orpa y any amount it necessary tor pertarmance.1!any �
<br /> . `�� . •_E conawction on the property is discorninued or not carNed on in a reasanabte manner,Lender may do whateve►is necessary m protact Lender's
<br /> � � ;�' Security interest in the proparty.Thia may Inctude complettng tha consWCdon. , •��. � .
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<br /> Lender's�fa�7ure to pecform wiN not preciude Lender irom exercising arry of ita other dghts under the law ar tdis deed of trust _ _-
<br /> A amamts paid by isnder to pratect Lenders securityr brterest witi 6e secured by this deed of Vust.Such arrtour�wiii he dae on demand . -..
<br /> - -<-•= an�wift bear irtterest irom t#re date of tlia Paymer�t untii paid in full et the irKerest rate in effeet on ths seeured Qebt. .� ---
<br /> _ " . ` 70.Oefmilt end Aceeleratlott.If Bartower fails w make arry paymertt when due or breaks any covenartts under thts deed of trugt or arry � ��
<br /> � obtigatJan secured by thSs deed o!Uust o►any prlor mortgage or deed of trust,Lender may accelerate the mawrity of the seciaed debt and _.'� .�,�
<br /> ' ' �. demand imm�ats paymertt and may inwke the power ot saie and any other reme�es pefm.jtted by appiipble Iaw. -- - -
<br /> - � .. 11.Re�teat for Noflee o!Qefaui�ft is hereby requested that copies ot the rwtices of defauit and sete be seirt to each person wha is a party ,.t--�p1�
<br /> • .. -, hereto,at the address ot each such person,as set forth herein. •� `�- °�
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<br /> • . • 12.Power ot Safe.ff the Lender invokes the power of sale,the Trustee shall tirst record in the oHice of thb regtster ot deeds of each coumy . -
<br /> _ � v+fierein the uust propeRy or same part or parcel thereof is eidrated a noUce of defautt corrtaining the tnfartnation required by law.The Trostee . ��, °---_-
<br /> sfiall also ma�7 copies of the notfce of default io tfie Borrower, w each parson who is a party hereto, and to other persons as presc�'6ed by . -
<br /> _ applicabte Iaw. Not(ess than one morttA after the Tn�stee records tAe noUce of defautt or two morttpa if the trust property is not in arry '•�•r `-_-
<br /> � ' incoryoiated cfty or village and is used in farming o�peraUons carried on by the trustor,the frustee shaq giva pubiia noUce of sale to the persons - -
<br /> -�;� � . and in the manner,prescri6ed1�y appplicable taw.Trustea,wftfiaut demartd an Barrawer,shalt selt the property at pub0o aucdon to the htghest . •: �;,,_.�_�,;
<br /> .. ' ! bidder.ff requtred Dy the Ferm Homestead Proteetion Aet,Tcustee ehail oHer the proDerty in two seDarate eales as requhed by apprcahte law. , -.
<br /> ' ' ' Tnistae may postpone sale ot atl ar arry pareel oi the property by pu6fic announcement at tAe Ume snd place of arry prevfousiy scheduled sale. `'"'�"'-
<br /> • . • � .. .�.` Lender nr ite designee may purchase tAe praparly at any sate. '���-,.'"��'
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<br /> • . � Upon receipt of payment of the price bid,Trostee shall Qeliver to the purchaser Tastee's deed eonveying the propeRy.The recitiats coMaiaed in `��
<br /> Trustee's deed shail de prima tacia evidience of the uuth of the statements eontained therein.TNStee sha41 appty the proceeda of the eate in the - _ �-
<br /> . . toitowing orQar. (a) to ail e�enses o! the sate, inctuQing, but not Iimited to. reasona6te Trustee's fees, reasonaLte attomeys tees and ��s=
<br /> ' � , reinstatement tees;(61 to ail sums secured by tMS deed ot trust,and(c)the bafance,if any,to the persons tegally entWed to receive R. ' •.,.'^�_;�-
<br /> � 13.Faredasure.At f.ender's opitor►,this deed of trust may be foreclosed in the rttenner pfovide by applicable law for forecfosure of mortgages �"��,.
<br /> . on real proDeny � . - '.�-�s�:
<br /> •., t.a��::..
<br /> . � . 14.fnapaa9on. Lendar may erKer the property to inspact it if Lender gives Borrower noUce betorehand.The notice must state the reasonab(e • -,--
<br /> � � cause for lertder's inspection. '
<br /> 1b.ConQamnaBion.Borrower assigns to Lender the ptoceeda of any awerd or ctaim for damages connected with a condemnatlon or other takirtg �� .'��."�'
<br /> �'�% ' of etl or any part of the property.Such proceeds wiil be applled as provlQed in Covenant t.This esslgnment ls subject to the terms ot eny prbr • �—��
<br /> .� • sac�uity agreement � ---
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<br /> ` 18.Welve►.By exerdsing arry reme�y availabte to Lender,Lender does not giveup arry rtghts to tater use anV ather remedy.By not exetcising •- . 4;-._,-_
<br /> . � , any remedy upon BorrowePs Qefauft,Lendar does not waive any right to tater consider the evertt a Cefautt it R happens again. •
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<br /> , • 17.JaiM and �evemi liabtttty; Co-etgnore; Suecessors and Aasigna Baund. Ail duties under this Qeed of truat are jolnt and several. Any • • • --�
<br /> .. . Borrower who co-signs tAis aeed of trust�ut does not co-stgn the undedYing debt instrumant(al doea so onty to grant and convey that "�• �
<br /> • BonowePa inteseat in the property to the Trustee unQer the terma of thia deed oi trust,in addition,such a Bonower agrees that tha Lender anA � . ;, �
<br /> '' • any othar Bortower unQer this Qeed of vust may extenA, moditv or make any other changea in the terms of this deed of trust or the secured . .
<br /> : � , debt without that BorrowePe consent and withaut reteasing that Bortower Nom the terms of thia QeeC of Vust. �`�. ' •
<br /> � The duttes and 6eneftta of thia deed of vust ahali bind and benefit the successora and assigns of LenQer and Borrower. ' • .
<br /> 18.Notico.Untess otherwiso reQuired by taw,any notice to Bonower ahall be given by delivering it or by maiUng ft by certifled maii addressed to •
<br /> . . Bortower at ths property addross or any other address that Banower has given to LenOer.Bonower wlil give any nosice to lender by certifleA . •
<br /> : • mail to Lender's address on page 1 of thia deed of trust,or to any other address which Lender has designated.Any other notice to Lender shaii � •
<br /> � be sent to LenQer's adQress as stated on page 1 of this Qeed of t►ust , - . .
<br /> • i Any noUee shall be deemed to have been gtven to Bortower or Lender when ghren in the manner atated above. � .�•
<br /> � 19.Teenata►04 tho Deaparty or a Bonsfldal tntmost in tho Borrowor.If ati or any part of the p�ope�ty or any interest in it is soid or banateReO �
<br /> � • • � wtthout londer's prlor wrltten consent. Lender may demand immediate payment of the secured debt. LenQer may atso demand immediate ..
<br /> � payment if tha Borrower la not a natural pe►son and a beneffcial interest in the Borrower is sotd or transferred. However,Lender may not •
<br /> ' � demend paymant in the above situaUons If it is prohibited by tederal law as of the date of this deed of trust. � � ��
<br /> �� • � 20.Roeonwyanco.When the obllgaUon secured by thia deed ot trust has been paid and Lender has no tunher obUgation to make advancos , •
<br /> • under the instruments or agraemente secuted by this deed of truat,the Trustee shaij upon written request b the Lender,reconvey the trust . •
<br /> • property.The Lender ahall deUvor to the Borrowar,or to Borrower's successor in intereat,the uust deed and tXe�ote or other o�iQence of the •
<br /> ohi�gatlon so satiafied.Borrower shall pay any recardation coste. . . .
<br /> ? Z1. Suuoasor Truatae. Lender, at Lendar's o tion, may remove Trustee end appoint a sucwssor trustee by flrst, mailing a copy of the �
<br /> � substitution o}trustee as repuired by aDPlicabfe Paw,and then,by filing the substhution ot trustee tor record in the ofiice of the register of deeda
<br /> �� F of each couMyr in which the truat property,or someAan thereof,ie situated.The successor uustee,withaut convayance of the property,shall .
<br /> :�, succeed to eil the powe�,duHea,authortty and 6Ue of the Trustee name0 in the deed ot trust and of any suecessor vustee.
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<br /> . fAegA2 0121 I.. .
<br />� -�� ' _ BANKFAS SYSTEMS,iNC..S1.CLOUO.MN 68301 11-SOa39t23011 PORM OCP�MT6NE 8/1991 • - , � '
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