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<br /> COVENANTB 7 ��1�2
<br /> �� P�Ynte Lender�recafvooflfrom Bor ower or for Borrower'e bnnefit wl�ll be appled IUet to nny amount dorr�or o oonoi�thot5ocurod du�t „ �
<br /> qaymo ,
<br /> exclusive ot Intereet or princlpai, second to fnterest, end then to princlpel. ff parllal propaymont of tho eocuro�dobt occuro tor any roasan, it will
<br /> not reduce or excuse eny scheduled p�yment unti!the seaurad debt la pald!n fuil. • F 2�
<br /> ��
<br /> 2.CINma Ap�inet TIN�.Borrower will pay ell texes, e�ses�ment�, and other cher�ee ettrlbutab!e to the prope►ty whon due and wiil dotend tltle T
<br /> ' to the proparty a�p�Imt�ny cl�lm�which wauld hnpalr tho Ilen of thl�Qeed of truet.Lender mey raqulra Borrower to eeslpn eny riphte,clalms or
<br /> defenees whloh Borrowor m�y haw�palntt partle� who supply 11bor or meterlal�to Improvs or malnteln the property.
<br /> 3.Inauranao. Oorrowor wlll Icocp thn ptoperty ineured under torms acceptebla to Lender nt 8orrawor'e uxpartao und for Londor's bonofit.All
<br /> Inourance poltcle��hell Include��t�nderd mortgtpepcl�uae In fevor of Lender.lender will be nemed es lose payoo or ao tho Insurad on uny ouch
<br /> orsto 4he seaured debt�IT Lendei Pequt/ei�moatg�Be:��urance��Blorrower afl c�ei to�mefntele suchhnaurance for ae lonp�ee Lender�equl�iee roperty _
<br /> . • ' 4.P�op�rty.Borrower will kaep the property In pood conditbn and make sll repairs roesonably neceseary. . _
<br /> ' 6.Exp�nta.Borrower agree�to pey ell Lender'�expenaea Irvcluding reasonable attorneys' fees,If Borrower breako eny covenents En thia deed
<br /> of trutt or In eny oblipetlon aecured by thls deed of truat.�orrower will pey these emounte to Lender ae provided In Covannnt 9 of thle deed of
<br /> trust. z
<br /> • 8.Pria►S�curltY Int�n�ts. Unleca Borrower firot obteins lender's written consnnt,Blorr mortp ge�deodeof truetror�tother securitytagreement�
<br /> security Interests. Borrower witl pertorm ell of Bo►rower'e oblipations under any p „
<br /> Includinp Borrower'e covenantc to make peyments when due. , •.�i�;'_
<br /> 7.Attlpmm�nt of R�nU�nd Proftt�.Borrower aesigns to Lender the rents and profits of the proporty. Unloss Borrower and Lender havo agreed �:�._=
<br /> � otherwlae In writ(np, Borrower may colleat and retaln the rente ae long es Borrower la not In defautt. If Borrower dofaults,Lender, Lendor's ,R�
<br /> ' agent,or e court appolntod recelver may teke poseeaefon end manepe the proporty und coilect the rente. Any rents Lendar cotiects shall be � �v;.;
<br /> applied first to t he costs o f mane ping the prape►ty,inaluding court costs nnd attorneys' teea, cammlaslone to rental agente,and any other wo��,;,-
<br /> � nacesanry related expensea.The reme tninp amount of renta w l ll then epply to paymante on the secured debt ea prov i de d In Covenent 1, -.
<br /> � 8.LM��hold�•Condortdntume;PI�4 UNt��vAopm�nt�,Borrower egreee to comply t11th the providtone of�ny leese it thla deed of trust la on _ _ _____
<br /> +� under ths�co enant�bylew�or repulationt of tho condoMnfum or planned unit developm nt�t� Bonower will peHorm ell of Borrower's dutlee , _
<br /> �, � 9.Authority of L�nd�r to Peform fo�Borrowu. If Borrower fallta to perform eny of Borrower's dutlos under thid deed of truet, Lender may
<br /> + perfarm ths dutiss or ceuse them to be performed.Lendar mey afen 8orrower's neme or pay any emount if naceasary for performance.If any y._��
<br /> construatlon on the proparty le dincontinued or not cerried on In s ree�onable manner,Lender may do whetever is necessery to protect Lender'e :,,.�
<br /> � ; aecurity Interest in the property.Thie mey include completing the conetruotian. • . :� �___
<br /> i� � w -'�•-
<br /> ; � Lendor'e fellure to partorm wlll not preclude Lender from exercising eny oi Ite other rfghte under the Iew or thfs dead of trust.
<br /> Any emounts paid by Lender to protect Lender's seeurity Intefreat will tso sacured by thle deed of truat.Such emounts wiil be due on demand �'.���
<br /> �, and wlil bear Intereat from the dete of the payment until peld fn full at the Interest rete in efiect on the Becured debt. rF ,-
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<br /> 10. Defwit and Acc�IwaUon. If Borrower fails to mako eny payment when due or breaka any covenenta under th�e deed of trust or any �,
<br /> — � obligstlon eecured by this deed of trust or eny prior monpape or deed of Vust, Lender may accelerate the meturity of the secured debt and �
<br /> demand Immedlato payment end mey invoke the power oi eate and eny other remadlea permitted by eppilceble law. �
<br /> '' 11.Requ�at fa Notic�of D�fault.It fe hereby requested tnet copias oi ine��i�i�aao�t�ata�lL�ssd oa:s�.H��S�t LO L�Rl�tl�IR►/1(111 WFIO IB B�19►� � ._
<br /> hereto,et the eddrese ot each euch peroon,ea eet forth herein. `�
<br /> 12.Pow�r of S�l�.If the Lender Invokea the power of sale, the Truatee ehaU iirst record ln the office of the repister of deeda of each county �,
<br /> '•� whereln the trust property or some part or parcol thcreof le situeted a notice of defeult contelnin9 e�eto�and to��otheQu'ersons ee escri6edtby '� -°°
<br /> �`; ";' shell elso mall coplea of the�otice of doteult to the Borrower,to each person who is a party h P P •
<br /> x�- applicable law. Not less thsn one manth after the Truatee record�the notice of defeuit,or two montha If the trust property is not In any ,.
<br /> Incorporated cfty or villego end Ia ueed In farming operotlona cerried on by the trustor,the Trostee shell give public notice of sele to the persone �?'. 'i�_
<br /> � ond In the manner pre�cribed by eppplicable law. Trustee,without demend on Borrower,shalt seil the property at publla auctlon to the hiphest :^
<br /> ' bidder.If required by the Farm Homestead Protectlon Act Trustee ehall oNer the.propartV•�n two separete satea ae required by appliceble law.
<br /> " Trustee may postpone sale of all or eny parcel of the property by public ennouncement et the time end place of any pravlouely scheduled sele. 1 k
<br />- Londer or Ite deaipnae msy purchase the property et eny eale.
<br /> � ' Upon rdcelpt ot payment of the price bld,Trustee ahall deliver to the purcheaer Trustee'a dead conveyinp the property.The recitiele contelnad In
<br /> 1'rustee'o deed shell be prima fecle evidience of the Includinghbutenot limitad�t,�reasonabte Trusteeeeafeespireesoneble�attotney eetees�and
<br /> �� foliowinp order: (e1 to all expenses ot the aele,
<br /> relnatatemsnt feee;(b)to ail sume secured by thls deed of trust,end(o)the balence,tf any,to the persona IepaOy entitled to receivo it.
<br /> ' - � 13.Fonclo�ur�.At Lender's option,thle deed of truat mey be foreciosed in the manner provide by appliceble law for forecloaure of mortqages ��r
<br />�.. ,..., , . on reel property. : -
<br />�:�-��;"'� � 14.Int�on. Lender mey enter the propertlr to Inspect It if Lender gives Borrower notice beforehand.The notice muet stete the reasonable -
<br /> �,:--?•..:.- ceuse of r Lender'e inepeatlon. _
<br />= 16.Cond�mnatlon•Barrower easlp_ns to Lender the roceeds of uny eward or clafm for damagea connectad with a condemnatlon or othar teking
<br />_ � ot ail or eny part of the property.Such procands wiP de epptied ee provided In Covena�t 1.7hla esaignment la subjeat to the terma ot any prfor
<br />= �... securfty apreement. , d�
<br /> ��_-,.�,�
<br /> - ��,� �' .�'e � 16.WNwr.By exercising eny remedY availeble to Lender,Lender doea not give u�any rights to late�use anV other remedy.By not exercfsing - "
<br /> _ _ eny remedy upon Borrower's default,Lender does not weNe eny riyht to Ietar cona der the event e default if it happens apain.
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<br /> 17. Jdnt�nd S�vKSI LlabNtri:Co-siyn�n; Sucatson�nd Asstyns Bound. All duties under thia deed of trust ere Jolnt end sevarol. Any f.
<br /> -���-��u f•-� Bortower who co-signs this deed of trust but doea not co•algn the undorlying debt Inatrumentls) doea so oniy to grant and convey that F,p,r��„_-_..,,,�,,
<br /> _„�_ry:� �� Borrower's Intereat In the property to the Trustee under the terms of thie deod of trust.In eddition,such e 8orrower agrees that the Lender end d�_=�
<br /> eny other Borrower under this deed of trust mey extend,modifv or make eny other changoa In the terms of this deed of trust or the eecured �=__
<br /> ....,r. , debt wfthout thet Borrower'a conaent end without releaeing that�orrowor trom tho terms of thie deed of trust. �v_��_ ��
<br /> �r,� .
<br /> . ;� The dutlea end benefits of thia deed of trust shell blruJ end benefit the succeasore end aseigns of Londer end Borrower. �s�
<br /> 10.Notic�.Untesa otherwice required by taw,any notice ta Borrower shall be�ven by delivering it or by malling It by conifted maU addroaaod to _��"''—*'—".-r�-_:.�•�
<br /> z---: ° r...<c.-
<br /> « Borrowar st the propertV�ddroca or any other address thet Borrower has given to Lender.Borrower will givo any notfce to Lender by certified � ,,; , Y,�,�
<br /> mail to lender'e adtlresa on pape 1 of thie deed of vust,or to any othe�addres's which Lendor has designeted.Any other notice to Lender sheli ,ti�.. *��,��: •' �,
<br />- be sent to Lender's eddresa aa eteted on page 1 of this deed of trust. �; ° ' ..,�:.;:.
<br />- Any notice chall be deemed to have been qiven to Borrower or Lendor when given In the manner atatod ebove. ; . ��,•� .'�_�;.
<br /> 19.Tnnsf�r of th�PropetY or�B�fletr InNrstt in tM BortowK. It ell or eny'peit'br''ttie'propertv or any interest In it is sold or traneforred ��.��
<br /> 6 '-ih
<br /> payment if�t er,Borro�wer�Ia not a�netural pers4n endda beneficial interosten�tha Bor�rove1�erels colddob transferred Howevere Lendermmay�not � �.,-,
<br /> . 1 demend payment in tho obovo eltuatians It It le prohibttad by federal law as op the date or thi$deed�f trust.
<br /> : 20.R�conveyanc�.When tho obtigatlon secured by thla deed of trust has been peid,and Lander hae no further obligation to make advancea ,
<br /> under the instrumente or egrooments encured by this deed of truat, the Trustee shall,upon writton requeat by the Lender,reconvey the trust
<br /> ---- - ,�..,.,om, TM Landar shall doliver to the Borrower,or to Borrower's succeasur In Interest,�tho trust doed ond the note ar othor evidonce of tha
<br /> -- __- .._ .. .
<br /> obl�getlon so satisfiod.Borrov�er shall pay any recordation coacs. - -
<br /> ' 21. Succ�saar Tru�tes. Lender, ot Lender's optlon, mey remove Trustoe ond appolnt a succoasor trusteo by first,malling m copy of tho '
<br /> � substltution of truatee ea requlred by applicabie law,and then,b•/flling tha substitution of Vustee for rocord in the office of tho registor ot duodo
<br /> � of oach county in whlch the trust property,or oomo part theroof,Is situated.The succesaor trustee,without conveyence of tho proporty, ehall
<br /> � succeed to all the power,dutiea,c►uthority and title of the Truatee nnmod In the deod of trust and of any euccesoor trustea.
<br /> fpeye 2 oI 21
<br /> OANKEIiS BYSTEMS.INC..5T.CLOUD.MN 68301 11•800J97•23N 1 FONI OtP•MTO�NE 0/78/81 _^ -
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