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<br /> COVENANT$ 9��' �Qi'��� "'
<br /> 1, p�ym�nt�. Borrower apreee to meke eli peymente on the eecured debt Wled f�et to eny emounte BoroweraweeAOn thoteecured dobi
<br /> � payments Londer receive�from Borrowor or ior Borrower'e benoflt v�lll be app
<br /> ,• not reduce or�excuie�eny��echeduled piyment until the sec�ed debt li peld In tulla��'�epeymunt of the secured debt oacure for any reecon,It wili -
<br /> 2.CINm�Ayatmt TiB�. Borrower will pay etl texa�,e�eeaemento,end other cherpoe ottrlbuteblo ta the property when due end wlll dcfend title -
<br /> • to the property epafnft any alelm�wh�ch would kmpelr the Ilen o}thi�de�d ot tru�t.I.snder m�y requlre Borrower to a�elgn eny ri8ht�,clelms or �,
<br /> , � defenson which Borrower may have epainat pertiea wha eupply leba►ormeterlals to Improve or melntsin the property. ,
<br /> � 3.Inturl�nco. 8orrower wfll keep the property Inaured under terms eccepteble to Le�ider et Borrowar'c oxpan�o and for Landor'a banoflt. AII _
<br /> ineurence policlen shell include a etandard mortqefle clause In favor o}Lender.Lender wlll be nemed a�loas psyee or ee the inaured on eny auch
<br /> or to the secured debtl�f Lender requlresamoartqege P sur anie�t B�orrower�epro�ea�tri�mefnteln euchhniu�ence for ee lonp�es Lender�requires roparty
<br /> � r 4.Prop�rty.Borrower will keep the property In gaod conditlon end meke ail repelre reaeonebly neceesery,
<br /> � Ei.Expsnsa. Barrowe►aprees to pay all Lender's expensea,Includlnp reesonebte ettorneye' foee,If Borrower breaks eny covenants in thts daed
<br /> of truat or In eny o b l ipet lon secure d by t h l a d e e d o f t r u s t.B ar rower wlll pe y these amounts to Lender as providad In Covenent 9 of thls deed of ., _
<br /> LfUBt.
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<br />" 6.Prior 8icurfty Int�nsu.Unl�as Borrower firet obtelne Lender's written cansant,Borrowet will not ma4e or permit any changes to any prior
<br /> security Intereats. Borrower wlli perform all of Borrawer'e obligationa under any prlor mortflege, deed of trust or other security epreement, . r
<br /> Inciuding Borrower's covenantn to meke payments when dua. � - _.
<br /> ' 7.A�slpnm�nt of Rmts md ProfiU.Borrower essigns to Lender the rents end profits of the p►operty.Unleas Borrower and l.ender heve egreod ,� .r�;,�'L;;y�,�;;Q,�v
<br /> �� otherwise In wrlting, Barrowar mey aollect and retaln the rente as long es Borrower le not In default, If Borrower defauits.Lender, Lendor's „�„_
<br /> egent, or e court appointed recefver may tako poseession a�d menage the property and collect the rents. Any rents Lender collecta shull be '}"�. ,, "�Y;
<br /> � neeeasafry relatod exponses fThe remeining amount of rente will then apply to peymentseon theesecured debt as porovided in Covona^td'any other -
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<br /> B.L�auholds•Condomintumt:Plann�d Uni4 Dsvslopmsnt�,Bormwer agreea to comply with the proviaions of ony loase If this deed of trust Is on =_ `
<br /> � under the�co enante,by tewa or regulatlonsl of the condominium or planned unit devefopmentnt, Borrower will perform all of Borrower's dutiea '
<br /> 9.Authority of L�nd�r to PeTorm for Bonoww. If Borrower falis to�perform any of Borrower's duties under thfs deed of truat, Lender mey . , �.��
<br /> � � perform the dutfea or aauso them to be perfofined.Lendar may dpn Borrower'e name or pay any emount if necesaery tor pedormance.M any ,:+�,:
<br /> construotion an the property Is discontfnued or not carried on in e reesoneble men�er, Lender may do whatever la neceaeary to protect Lender'e , :.7..,,
<br /> � ,� � security Intereat in the property.Thie mey include completing the conatruction. • �. ,i�
<br /> r � Lender's failure to perform wlll not proclude Lender from exercfeing any of ite other dghte under the law or thie deed of truat. ���;�
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<br /> � Any amounts pald by Lender to proteat Lander's eecurity Intereat wlll be aecured by thls deed of truat.Such amounte witl be due on demand •;,.,,.:.-.
<br /> antl will bear intareat from the date of the payment until peld in fuil at the intersst rata in effeot on the secured debt. ��
<br /> .�. � 10. Defwk �nd Acc�I�raUan. It Borrower Talla to make eny payment when due or breeke eny covena�its under thla deed of trust or any "� _ —
<br /> obligetlon secured by this deed of trust or any prla mortpage or deed of trust, Lender may ecceleroto the meturity of the eecured debt and I"'��,
<br /> -__ ._1�-. �Iamand Immadiate peyment and mey fnvoke the power of eele end any other remedies permitted by oppliceble law. �
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<br /> +�„ 11.R�qunt tor Notic�of D�iwit.It la heraby requestod that copies of the notices of default end sele be oent to each person who is e party
<br /> �,' hereto,at the addresa of each such person,aa set forth herein.
<br /> 12.Pow�r of S�I�.If the Lender invokea the power of sole, the Trustee ohall first record in the offlae of the register ot deede of each county
<br /> wherefn the trust property or eeme part or parcol thereof q situeted a notice of dofault contalning the information required by lew.The Trustee _
<br /> � ehell atso mall copiea of the notice of default to the Borrower,to eaah percon who is e perty hereto, and to other persons es prescribed by
<br /> epplicabie law. Not lese than one month efter the Truetee ►ecorde the notice of detault or two months if the trust property ia not In eny
<br /> incorporeted clty or villape end Is ueod In farming operations carried on by the trustor,the fruatee ehall glve publio notice of sele to the pereons
<br /> ' and in the manner preacribod by apppllceble lew.Truatee,without demand on Borco�ver,sl�ell sell the property et publio auctlon to the hlpheat
<br /> bldde�.If required by the Ferm Homeatead Proteatfon Aet,T►ustee ehall oNer the propertY In two seperate eales ae required by applloebie law. -
<br /> Tructee may postpone sele of atl or eny parcel of the property by pubtio announcement e4 the time and ptace of any prevlously ccheduted sele. ;
<br /> Lendar or Its designee may purchese the property at eny eele. �1--
<br /> Upon receipt ot payment of the price bid.Tructee shell doliver to the purchaser Truetee's deed conveylny tho property.The recltfata contelned in
<br /> Truatee'�deed ehali be prime facie evidlence of the truth of the statementa contalned therein.Truatee shall appty tho proceeda of the sele In the
<br /> ►ei siaie ent feeie1(b)to�etl sumi�ecured by thic�deed of�trust uend(c)thetbelance,ifseny,t�o t e porsone lepelly entltled�to�eceive k, teea and .
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<br />--_�,,,.,,,, 13.Fonclosun.At Lender'e optton,thia deed of truat mey be foroclosed in the manner provida by eppllaabte law for foroclosuro of moetgaQe�
<br />_ `� on real property.
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<br /> �; � 14.{ntp�aUon.Lender may enter tho property to Inspect R if Lendor givea Borrowe►ratice baforehend.The notice muat etete the reeeoneble
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<br /> .4 a�• ., K cause for Lender'�Inspectlon.
<br />'''�`�', � 16.Cond�mn�Uon.Borrower aosigns to Lender the proceads of eny ewerd or claim for demagee connected with a condemnatlon or other takinp
<br /> ^�.� o f a li or en y pert oi the pro perty.Such proceeda wlll be eppifod es provided fn Covenant 1.This asstpnment le eubJeat to the terma of eny prior
<br /> . „ security egreement `
<br /> '� ' ' eny remedy upqn eor owe rsYdef uittl Lend Irdoes�ot walva uny right to lato0c naPder ihe event e dotauit if(t happens eps{nY�BY not exercislny --
<br /> ,"'�1' ' 17. Jolnt�nd Sw�ral WbUiri• Co•sipn�n:Ruccuaon md Aalpoo Bound. All duties under thls deed of t�uet are Joint end aeverel. Any _
<br /> :a,,:,�.:�.w:._ .
<br /> -���+� � Borrower who co•sipm thie deed of Vust but doea not co•algn the underlyinSt debt Inatrumenttsl does eo only to yrent end convey thet
<br /> _,,,,.;��; • • Borrower'�intoreat In the praperty to tha Truste0 under the tormf�s of this deed of trust.In edditton,such a Borrower egrees thet the Lender and
<br /> debt Iw thout thM Borrower ilconsent end wlthout rele s�inp th t Borrowae rtrom the term�of this deed of truat this deed of trust or the secured — —
<br />.__.tt'1��_f:,> . —
<br /> Tho dutles and benefite of this deed of truat ahell bind end bonefit the successors and aeetgns of Lender end Borrowea � `����
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<br /> �* 18.NoUce.Unlest otherwise requlred by law,eny notice to Borrower shalt be given by dolivering It or by meilfnp it by certified mail eddrosaed to �'�4���
<br /> Borcower at the property addresa ar eny other addresB that Borrower hee Biven to Lender.Borrower wfll give eny notice to Lender by certffled
<br /> � mail to Lendor'�eddrees on pape 1 of thia deed of uuat,or to eny other nddreas wh[ch Lender hee designated.Any other notice to Lender shall '�;
<br /> � be sent to Lender'a eddreae es stated on page 1 of this deed of bust. -
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<br /> " Any notico ehall bo deemed to heve been given to Borrower or Lender when given In the manner steted ebove. , `�`
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<br /> •� ', 18. TnnitN of th�Rrop�rty or�Btn�11c1ai Ir►t�nat in th�Borcow�r.If all ar any part of the proporty or e�y intereat In It is sold a t�anaferred �`�`.°' � �-
<br /> without Lender'e prlor wrltten consent, Lender mey demend immodieta peyment of the secured debt. Lender may elao demend (mmediate `^�`�'f�
<br /> . L�`�J :c?-.a'`.
<br /> ' ,� payment If the Borrower la not a naturai person end e beneficiat Intereat in the Barrower is eotd or transferred. Howover, Lendor may not , .' f�„ u
<br /> � � demand payment In the ebove situetione ff It la prohlblted by federat tew as of the dote of thls deed of trust. r:r�;,�;,�:'^::,i:�
<br /> ., � 20. R�conv�yana.When the obllgetian eecurod by thla daed of truet has been paid,end Londer hoa no furthor obligation to make edvances . ""`''�':- ;
<br /> - - _—•—----,--_ under the inaVUments or ogroements eecured by this deed of truet,the Trusteo shall,upun written request b r�the Lender,reconvey the trust �
<br /> .. --'- -"'------'-'_�_.." .��....�•a....� �..d• ....�...•n*Mr nuWnneo nf thn ' - ---'�-----__--`-.
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<br /> property.The Lender eheil tfeUVer to me norrower,or co ovrrvwo�O OU4400oV� ����...o,00., ..... ......,.......-......._.._.__. _..._. _.__..__ _ -----------
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<br /> obllgation so setiatied.Barrowor shaii pey eny recordatlon coste. � , ., .
<br /> 21. Succ�ssa Trutt��. Londor, et Lender'e option, meV romove Trustee end eppolnt a successor trustoe by ftret, mollinp a copy of tho
<br /> subatitutlon of truetee ee requlrctd by epplicabio law,end then,by flling tho subatitution of truateo for record In the office of the reglstsr of doods ,
<br /> � � of eaCh county in which the truat property,or some part thoroof, ia aftuated.The succesaor trueteo,without conveyance of the property, shelt
<br /> succeed to ell tna power,dutfes,authority und titie of tho Truetee nemed in the deed of trust and of any aucceaeor truetee.
<br /> _ - � Ipaye 2 o1YI .,
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<br /> . LANKER$8Y6TEM5.INC..ST.CLOUD,MN 60301 17-E00•997•2��71 FOIIAI OCP�MTO-NE EA B181 � .. _
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