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<br /> 1 c , ' 1, pttymertm. H+ortower agtees to maka e�� Paymertts on the sequed debt when due. UNess Bartower and Lender agree otfier�vise, any : `� , � ,
<br /> � ` , . payme�tg Lender retetves f*um Borrower ar for Bo+rowefs benefit w71 be appHed first to anY amotutts 9urrcwer owes on tRe secured debt ,4 tti �, .
<br /> ' � - exefusrve at irrterest or prindPal.second to i[sterest,eM lhen to Drincipai.if p�rtiaf prepaymeM of tha sew►ed debt oer.vrs tor any reaaon.it wll `n . `- �.
<br /> ' � � (iM�eduGe a�6XCUSe ertll 6 C h e d l d l8d p 8 tl m e�L uMH tl18 68CU�ed dBDt is pNd in tull. �'�° .�.f-. �.' _
<br /> : , . . ' • 2 qatms 6lgpirrat Tt�p.BortowBt a�1f aa(t all taxea,easessment6.and other cherges atuibutabte to t!►e property when due and wiD detend vtle y _
<br /> . „•`� �` w the propert�►af�inst�Y ciaims whicA woutd i��g.►2trd►9 Ren af ihis deed ot trust.Lendar may reau[te Borrower to assign any dgMs,daims or . c L� '. .
<br /> dafenses wNeh 8ortawer may ha�►e against part1es vubo s�DPN tabar or materiais Lo improve or meirtain the property. U� . • .
<br /> ._. •., �.. :
<br /> :,�(� 3,(�y�ea,gortower witl keep the proDeR7t insured Wder terms seeeRteb(e to Lender at Barrowers expense an d for ten de rs E e n e T tt.A l l , :
<br /> wi
<br /> � insuranca poiides shaft indude a stendarA mortga9e cimrse in tawr of tender.Lertder�nn�l ba nemed es loss payee or as the insiued an emr sueh , . .
<br /> � ` insutanea poliey.MY insuranee praeeeds may 6e apD�ied,wfthin Lendera disaetian.ta either the reatoret3on or repail of the damaged Oro¢ertY
<br /> :` . ,�_: or to tAe seaued debt if Lender requires mortgaae insurance.Bortower agrees tn maintein such insuranes tor as tong as Lender cequires. ; •
<br /> ' 4.Property.Barrower wi0 keep the property tn good cond�GOn and make all repairs reasanabtY neeessary. ...•...• �
<br /> _ �.f_i
<br /> , 5.6tpunse�,Bortower aptees to pay at!I.e�dar's exAensss inctuding reasomabla ettnmeYs'fees,if Bottower Oreaks an5r covenants in tAis deed ��� ` ` � r ��".
<br /> — � =`� ot trust or m arsy ob�igation secured by this deed of wst.�artower w+ll pay these amaurts to tender es prov[ded in Covenant S ot tfita deed at ==�=t �.
<br /> • '� • Vust. . t.�
<br /> • ` F.�' g,pdor geauity IMesestn.Untess Bartowet first otrtal�Lende►'s mrtitten consertt.Borrawer wi11 not make or pertnit any changes to enY Prior . , ..
<br /> ., , ` ` . �n��d�ing�garroyvers�covenarnsryto make P�Y���n�e btigatlons under any priar mortgsSe,dsed of trust or other security a�eemenL �. 3^ ,
<br /> " , . T.psatgmnerrt of Rerrts and EhoBte.Barrower assigns to Lender the rer�and prof�of ths property.Uniess Bortower and Le�der have agreed '•' J~ �•;,
<br /> o t h e r w i s e i n v v r i ti rt g. 8 o r rower ma y eoQect and retain the re+�ss Iong as Bortower is nat in defauit If Borcower defautta.Lender.Lendefs :h�
<br /> " • . ` ' age+�t.or a court appoirrted recetvar may tate possession an d manage t h e preA e►t Y a n d c o i t e c t t h s re M S.M y r e�t s L s rt Q e r c o l t e e t s shail be .� F_;,
<br /> I° "•' eppl�ed first to the coste of mana8in8?he property,indud'mg tourt costs�nd etto�on•th se eu�uemd d bt a�.s prorne'�in C ovenan�t�18��� , .�- _
<br /> � . . � f,; necessarY related expenses.The remammg amount of rertts wili then aDDh► P Ym ��
<br /> s;�, &Leaseho[d+•CondamWur�,+:Planned U�dt Devetopmerts;Borcower a ees to compty with the provis9ons of anY Iease if this deed of trust is oo � -_
<br /> ' . ' _ unGe�the�cwena�MS,b�ws.uosr�regiilatianst�dea�crondomini m or ptan�ned�unit�dedvet�op'mertt�B��r will pertortn ail of Borrowefs dudes .: , ,-
<br /> • r `, 9.p�ority of Le�dBr m pei(mm{cr Bonower.tf Borroinrer taits to perform any ot Borrower's dutles under this desd of trust. I.ender may :""
<br /> • - pertorm the dutles or cause them to Ae performed.Lender ma}r sign BortowBr's name or pay arry emowrt if necessarY tor pertortnance.if anyr .: *
<br /> - wnstruction on the property is d'iscantinued or nat carried on in a�easonabTe mannar,Lender may da whatever is necessary w p�otect Lendera ,_�.,
<br /> ` � sg�i�l interest in the property.rnis may lnclude coK+plating the consuuetion. s T,
<br /> . v.
<br /> . . . : LenQers iailure to pertarm will�at predude Lender fram exercising any of its other ri8hts under the taw or this deed of vust. + �,._
<br /> , ;�u;� ,:a.�.:r-
<br /> Any amouMs paid by Lender to protect Lendera security irtterest will be secured by this deed of trust Such amoums wt11 be due on demand ��
<br /> '' and vnll bear Irrterest irom the date ot tha payment urrtil paid in full at the irtterest tete in eHect on the secured deM. . _ _
<br /> � "_�
<br /> 7 0.Q e f,a W t m s d A c c a t e i a tl on• H Borrower faAs to make any payment when due or breaka any covenarrts under this Qeed of trust or arry �.f.,�.,,_�-:-
<br /> obiigadon sewred Isy thia deed of mist or amt prior mo rt gage o►d e e d o f o u s t,L e n d e r m a y a c c e t e r e t e t h e m a a a i t Y o f t h e s e c u red Qebt and ,�� .'. � _
<br /> • - . � demarM immediate DaYment and may imoke the power of sate and any other remadies pecmitted by appiicabte law. : - ;=?��,�
<br /> � � ' 11.Request tar Notice of Oeimdt.tt is hereby requested that copies of the noticea of defauit and sate he sent to eact�person w ha i s a pa r t y '�,,�,� ��y
<br /> � � herero,at the address of eacb sueb person,as set forth herein. �! `�
<br /> s�r�lS._..'.
<br /> 12.Fower of Sate.if the Lender invokes the Dower of eate,the Trustee shali fast recard in the offfca af the regtster of deeds of each county �_-
<br /> - � wherein the vust D.�oPenl►or some part ot parcel tfiereof is sftuated a rrotice of defauft contaiNn9e��na^a�o�e�Seer ons�as p•te ct�bed by '"-�
<br /> shal!also maii wp�es of the notice of defautt to the Bortower,to eact�person who is a party h �."� • ;
<br /> ' applica6te law.Not less than one martth after the Trustee records the noUce ot defeuit,or two morths if the wst property is not in arry ; ;•��
<br /> incorporated city or viilage and is used in farming operations carried on by the trustar,the Trustee shall give public notice of safe to tha persons �• ' 'j�%a
<br /> " � ' � and in the manner presuitrad bY�apppiicabte law.Trustee,without demand on Borrower,shall seil the propeRy et pu6lic auction to the highest
<br /> � ' bidder.If required by the Farm Nomestead Protection Act,7rustee shall offer the property in two separate sates as requited by appiicable law. •.���r
<br /> Trustee may postpone sate of all or airy parcel of the property by public annauncemerrt at the time and place of arry previousty scheQuled saie. j�=.
<br />. . lender or its designee may purchase tha propertyr atanY sala. . '��,..
<br /> r„;___
<br /> � Upon�eceipt oi pay�ent of the price bid,Trustee ahaU deiiver to the parchaser Trustee's deed conveying the property.The reciUals contained in �_
<br /> Trustoe's deed shaD be prima facie evldience of the truth o!tha statemertts coMained therein.Trustee sha11 appty tfie prcceeds of the eate ln the . . _ _—
<br /> ' tottowin9 orQe►: (a) to atl expsnses of the sale, including, but not limited to, reasonabte Trustee's fees, reasanabte attomey,s fees ana
<br /> � �-:
<br /> ' reinstatement tees;lb1 to ail sums secured by this deed ot trust,and(c)the 6alance,if any,to the persona legalty eniNad to raceive n. ' �� �,�
<br /> .. :}..,._.
<br /> 13.Foreetosuro.At Lender's option,tfiis deed of Uust may be foreclosed in the manner proviQe by appticehte!aw for foredosure of mortgages ��".�
<br /> on real property. ... �6
<br /> . 14.6�as�ectlon.Lender may enter the propeRy to inspect it it Lender gives BoRCwer notice beforehand.The noUce must state the reasonabte • • , � -�__
<br /> � cause for Lenders inSDe��on. _15_�'
<br /> � 15.Condemna8on.Bortowet asslgn�s to Lender the,proceeQs of any award or claim for Gamages connected witt�a condemnatlon or other taking .
<br /> �� • , of all or eny part of the property.Sucfi proceeds�nnll be applied as Orovlded in Covanant 7.This assignment is subjed to the tetms of any pdor . ,
<br /> . . .; securitY agreement.
<br /> '� � 16.Watver.By exercising any reme�y availabte ta Lender,LenQer does oot give u any rlgMa to later use any otfier remedy.By not exercising • .-
<br /> ';��,. � eny remedy upon Bonowet's detault,lender does not waive any rigM to tater consPder the evertt a defautt it it happena again. ,
<br /> 17.Joi�and 8everal U��y Co-signero: Successon and Asst�s Bound. AII dutiea under this deed of•trust ere jotnt and several. Any ,
<br /> • Bonower who co-signs this deed of trust but does not co-sign the underlving Qebt instrumentfa) does so only to gtant and Convey that .,
<br /> � Borrower's iMerest in the property to the Trustee under the term}ya of thia deed of trust.tn addition,sueh a Bortower agreea that the Lender anC
<br /> �� 1 • � de�t wihout t at Borrower sieonsent and wnhouYt re et asing that Borrowa rtiom the terms�o}Uila de8d of trsust this deed of uust or the secuted .
<br /> ` The duties and bBneTrts of this deed of trust shail bind artd benefit the auccessora and assigns of Lender and Borrower. . �
<br /> � ' 18.Notlae.Unless othetwise requirod by taw,any notice to Borrowe�shall be given 6y delivering it or by mailing it by certified mail adQressed to •
<br /> Borcower et the property address or any other addtesa that Bonower has gIven to Lertder.Borrower will give ami notice to LenQer by certified • �
<br /> � be sent mrle dere address es st ted nip Bee1 oi this Q ed of trugt�er adQress which lender has designated.Any other notice to tender shatl . _ . .
<br /> '' Any notice shall be deemad to have been given to Borrower or lender when given in the manner stated above. -`
<br /> , r 19.Transfer of tho P►oparty or o FtenaRciaf lntoroat in tfie Sortower.if eil or any paR of the propertv or any 1Merest in it is sold or transterted � . ,
<br /> " wlthout Lendera prlor wNtten consent, Lender may demand immedlato payment ot tfie secured debt. Lender may atso demand immodiete
<br /> ' • ,� payme�t if the Borrower is not a naturat perann and a beneflcial interest in the Bortower is sofd or transfened.However, LenQer may not .•
<br /> demand payment in the above situationa if it is prohibited by federal law as of t he date o f t h is dee d of trust.
<br /> i , ..
<br /> • ' � 20.Raconveyance.When the oCligation secured by this deed of trust has been paid and Lender has no furthyer obligation to make advances
<br /> � . � 1 proVeny Tne Lender shail delivereto the Bottowerthoi to Bor�rower s succossaorein interesl the trust deed endthahnote or othe eviAence of the _
<br /> : oD�iletion so satisfied.Borrower ahatl pay any recordation costa.
<br /> �! 21.Successor Tniatoo. nder, at Lender's option, may remove Truetee and appolnt e suceessor Vustee by first, maiting a copy of the • .
<br /> � , substitution o1 uustee as�QuirE9 q plleabio law,and then,by filing the substitution ot trustee for record in the oNice o}the register of deeds
<br /> ' of eacfi county in which�tte VQ�t pr8 ariy, or some Dan theteof,is situated.The successor trustee,without conveyance of the proporty,shatl
<br /> � succeed to atl the power,duties,authority a�d title o!the Trustee namod in the deed o}uust and of any successor trustee. .
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<br /> f0age 2 0l?! ' .
<br /> _ " . ' 9ANKERS SYSTElA9.�NC..ST.CLOUD.MN 66301 it 800-391�23a11 iONM OCP�MI4NE 6l18/91 __ „_ _ . _ t
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