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<br /> .t . ` , 1. �.Borrowar agrees to make all paycnec►ta on the seaued deDt when due. Unless Borrower an��ndar agrea oil�e�rw s�any y c�i,., �-
<br /> - . e xctmusive oteirnitdere t oriv�d�al,m Bse�condeto inte�rest,and then tonetit wi0 bf azpa!dri'irst to any amouMS Borrower owea on the secured ttebt `• ' . .
<br /> 0 A P��• P 0 BD�erst of the seciued debt accurs f or arry reasan.i t�nnU •° ° .`
<br /> . � � not reduce or exw�se any stheduted payment umil the seeured debt is paid in tulL ` �• �-
<br /> � Z txtIms Aga(nst.Titts:BoROwer inril("pay afl tmc'es,a�sessmarrta,and other ehargea amibutable w the pruperty when due and wi0 defenQ tiUe "` '� �
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<br /> � � , . to the propesNeg ahst erR/cl8tms wtueb wouid impair,the Gen oi this deed o1 uus�Lender may require Borrower m asslgn eny rights,etaims or � ° ,, `
<br /> dotanses whtch Horrovret mey have ageM9t partles wt�suppSy labar or materials to fmprove ar mau�tain the proDgrty < '
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<br /> . . 3.U�mnes.Boriov�ter wN keeD�Grope�ty lnsured under tetms aecepta0le to Lender at Bar►ower's expense and far Lende►'s beneftt.All , ' •
<br /> lnsur8nee pollclas ehaU lnctude a standard mortgage dause io favor of Lendsr.Lender will be named aa toss payee or as the insured an any such ' � . �
<br /> ' <. � •� insuranrs potiay.Aml ins�uance proceeda may 6s epplied,within lendera disaetlon,ta.aither the restoration or repair of the damaged proDerty - , , -
<br /> or to the seeured deb�If Lendet requltes mortgage msurance,Borrowar agrees to mairtain such insurance tor as long as lender requires. �, F �• �"'! _
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<br /> � 4.Praperty.BoROwer wUl keep the property in good condition end make a0 repaira re8sonabty necessary. � :; � �
<br /> , � -°'3. �.� &E.�ensoa Borcower agreea w pay eU Lendsr's e�cpenses,indudi�g reasonabte attameys'fees,ii Borrowe►6reaks any covenants in this deed - . -�
<br /> .,. � . . 4.
<br /> '` _ ot treist ar in arry obligarion see+ned by this deed of trust.Bormwer v�nll pay these amauata to Le�de�as provided in Covena�t 9 of Mis deed ot ` ' •
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<br />_ , ' 8.Prio►Sawr(ty 6tleroate.Untass Boaower first abteins Lenders written tonsent,6otrower wilt not make or pertnit any changes to any pdor � � �
<br /> , • ' seeurity imerests. Bowower will perform aI1 0!Borcower's obligations under any prior moRgage, deed of trust or other security agreement,
<br /> ,; , inciuding Bonower's eovenanta w make paymer�when due.
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<br />:•� ` ! 7.Assl�tA of Rm�m�d Profifs.Bartower assfgns to lendet the rents and praftts o!tha property.Untess Borrower and Lender have a�eed , .
<br /> ` :; othe e in wriUng, Bonower may coRect and retain the rents as tonp as Borrowar �s not in default. If Bonower detaults,l.ender, Lende�s .
<br /> .•;•� • " agem,or a tourt appointed recetver may take possession and manage the property and coUect the rertts.Any rents tender coQects sha11 6e , ,� :�., ;�•
<br /> i: ' ' .•� epplled first to the costs of managing the property, inctuding eourt costs end attomeys'tees, commissions to reittal agonta,end eny other '
<br />-,�`�., ��� . necessary retated expenses.The rema�rung amount of renis will then appty to payments on the secured debt as pmvlded in Covenant 1. �
<br /> !:r � ' 8.LeasaAatda•CandomWuma;PlnnnedlJnit Devatapmenta.8orrower agcees to comyty wrtb the prov�slons of a�y tease'rf this deed of Vust is on � . . �
<br />:��. ; � a leasehatd.t�tNs deed ot 4rust Is cn a unit in a canQommium or a plarmed unit davelopmen4 Borrov�er will perfortn a0 of Borrower'a duties t����'
<br />.,} under the covenanta,by-lawa,or regulations of the condominium or planned unit davelayment. :� ��=
<br /> 5,. ,• 9.AWwrTty ot lendar to Pertarm Qar Bartower.ff Bortower fails to�putorm a�ry of Barrower's duttes�mder this deed of trust,lender may �> —
<br /> • pertorm the duUes ar cause them to be per[armed.Leeder may sign Boerower's�ame wpa y any amoum if necessary for pertormance.If any �
<br />'LEx • ' .I ;,� constructlon an the proDerty is disconUnued or not cartied on in a reasonabfe manner, Lender may do wAatever is necessary to protect Lender's � • ---
<br /> r�.. security interest in the ptoperty.Thts may inc(uAe compieting the coaspuctian. ---
<br /> � � ' Lenders faihue to perform will not preetude Lender from exercisirtg any of its other dghis under the law or this deed of trust. ' .' -
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<br /> . + Arrv amounts pald Dy lenQe�to protect Lender's securiry inierest will he seared by this dee0 of trust Such amounts wiJ!be due on demand �-.�- -
<br /> and will Eear interest trom the date ot the payment unUl paid In tult at the IMerest rate in eNeet nn the secured debt /�"
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<br /> � '�5� 10. Qefa�t anA Aceetera$on. l!Bortower isits to make arty payment when due or Oreaks any covenants undat this deed ot trust or any '� � ;r
<br /> ;:` , obligetion secured by this deed of trust or eny prtor mortgage or deed of trust,lsnder may accefe►ate the maturity of the secwed debt and ,. ��,��
<br /> „ � . .�a� demand immediate paymertt and may invoke the power of sale end any other remedies pertnitted 6y applicable Iaw. ...�:•;' r.-_
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<br /> "' ""r 11.Retprsst tar NaSce of Dnta�dt h is hereby requested that copies of the notices of defauft and sale be sent to each person who'is a party T;�'
<br /> heteto,at the eddress of each suct►person,as set forth herein. _
<br /> "'` � � 12.Powar ot 8ete.If the Lender inwkes the power of sete,ttie Trustee shall first record in tAe office of the register of deeds of each courriy ��:��'t
<br /> •• wherein the trust propeRy o►some part or psrce!thereof is sitnated a notice of defauit containlng the tnformatton required by law.The Trustee •: ;s;;�_�.
<br /> , shaU also mail coptes of the not(ce of deTautt to the Bonower,to eaeh person who is a pany hereto,and to othe►perabna as prescribed by � ,:,•-i:.y�
<br /> . • • a�pltcable law.lVot fess than ona month after ihe Trustee rewrds the noUce of default,or two momhs if tAe uust property is not in any . , r�.�.--
<br /> : incarparated city or vitlage and is used in tarmfig op eratians cartled an by tfie trustor,the 7rustee ahall give pubtia notice of s�e to the persons • • --�_
<br /> .�5 and in the manner presctibed bY appplicabJe law.Trustee.without demand on Bortower,shall seil the property at pubtic aucGa�to the hlgAest �
<br /> •; . , blQder.If requtred by tre Farm Homestead Protectlon Act,Trustee shall otfer the pruperty in two separate sates as requhed by aQptica6le law. . . :' .,�+.
<br /> '� Trustee may postyone sela of all or any parcel of the property by publlc announcemant at the Ume and place of any prevlously scheduled sale. • --
<br /> �. ` . 1 Lender or its designee may p�uchase the property at amr sa1e. ,. ' `aT�.
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<br /> :1 Upon recetpt of payment of the prtce 61d,Tnutee shalt dethrer to the purchaser Trustee's deed convey(ng the praperty.The�ecitlats Conteined'm ' _ -^
<br /> _ : Trustee's deed shall be prlma facie evldience o!the uuth of the statemenis contained tlierein.Trustee s6a0 appty the praceeds of the sate In the .-
<br /> • � • ' toltowing order. (a) to a0 expenses of the sate, including, but not limfted to, reasonabte Trustee's fees, reasonabte attomey's feas and � • �`�"'"
<br /> . � `"' relnsta4ement tees;lb)to aIl sums secured by thts deed of ttust,and(c1 the balance,if amr,to the persons Iegal(y errchied to reeeive k. � `-
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<br /> . 13.Fareelosuce.At Lenders option,this deed oi trust may 6e foreclosed in the manner provide by applicabte law for forecfosure of moRgagea •.
<br />� . . on real proparty. ' •.r'�
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<br /> 14.tnspeedon.Lender may enter the property to inspect lt if Lender gives Borrower noUco beforehand.The notice must stete the reasonable , ��.•=
<br /> �:� cause Tor Lender's inspecUao. � °
<br /> ' 1b.Condemnatlon.Bonower assi ns to I.ender the�roceeds of any award or claim for damag es wnnected with a condemnavan or other taki�g
<br /> ' ot at1 ar any part oi the property.�ch procee0s wi I be applied as provlded in CovenaM 1.7hls assignment is subJect to the terms of any pNor . i�
<br />�;:;;-_ . sewrity agreement =�
<br /> ""� -° • - - - 18.LYalvar.Sy sr.ercisfirig any remedy avaitabte ta tendar,Lender does nat ghre up any dgAis to iater use an other remedy.By not exercising -
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<br /> ; � � any remedy upon BoROwer's Qetault,�ender does not weive arry dgM to later consider the event a default H it happens again. ' . � 7
<br /> '_ � � . 17. JaFrt and Sovaral Uah1fIM,Co�tgnars; Successota end Asslgna Bound.All duttes under thls Qeed of vust are jolnt and several. Any "
<br /> Borrowar who co-signs this deed of trust but does not co-sign the underNing debt InsUUmemc(s) doee so only to grant and convey that ��
<br /> , BoROwer's intetest in the proDerty to the Trustee under the terma of thls deed of trust.In addition,such a Bortower agrees that the LenAer and •
<br /> ' any other Borcower under thla deed of uust may extend,modi�or make any other changes ln the terms o!thls deed of trost o►the secured
<br /> '' � . debt wtthout that Borrower's consertt and wfthout releasing that onower from the terms ot thls deed of vust. �
<br /> . The duties anA benefits o!thia dead ot trust shall bind and benefit the successors and assigns of Lender and Bortowe►. - '� ,
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<br /> • � • 18.Nadce.Unlesa otherwise required by law,any notice to Borrower ahall be glven by delivering it or by matting it by certMied mail addteased to -
<br /> � Borrawer at the praperty addrass or any other address that Borcower has given to Lender.Borrower w�ll give any notice to Lender by certit}ed �
<br /> , � mail to Lender's address on page 1 of thia deed ot trust,or to any other addrosa whlch Lender has deslgnated.Any other rtotice to Lender shall '
<br /> , be sent to Lender's addresa as etated on page t of thla deed of trust.
<br /> Any notice shall be deemed to have been given to Bonower or Lender when given in the manner stated above. , .. � �
<br /> � � 18.Tronsfer o}tho Proparty o►o Bonofleiaf tntoresi in tho Bortower.If all or any part of the propertY or any interest in ft is sold or transferred '
<br /> . ' .. . wlthout Lender's prior written consent, Lender may demand immedlate payment o! tfie secured debt. Lender may also demand immedlate '
<br /> • payment i}the 8orrower is not a natural person and a beneficlal intorost in the Bor�ower is sold or transferred. Howevet, Lender may not �
<br /> � demand payment in the above situations if it ia prohibited by tedaral law as of the date of thls deed of trust. •
<br /> '.� 20.Reevnvoyanee.When the obligaiion secured by this deed of truat has been pald and Lender has no further obligation to make advaneea
<br /> � . under the insVUmenta or agreementa secured by this deed of ttust, the Trustee shat� upon wrltton request by the Lender, reconvey the uust
<br /> t : property.The Lender shall doliver to the Borrower,or to Borrower's successor in Interest,the trust deed and the note a other evldence of the , .
<br /> . obllgation so satisfied.Botrower 8hati pay any reeordation costs. �
<br /> 21. Suecoasor Truatoo. Lender, at lender's option, maY remova Trustee and appolnt a successor trustee by flrst, maiting a copy of the �
<br /> • subatitution of nustee as roquired by applicable law,and then,by tiling the substitution of uustee for record in the office o}tho regiater of Qeeda
<br /> • • af each caunty in whicn the trust property,or some part thereof,is sltuated.The successor trustee,without conveyance ot the properry,shall
<br /> � succeed to all the power,dutiea,authorlty and titte of the Trustoe namad in tho dasd of trust and of any successor trustee. �
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<br /> BANREHS SYSTEMS.INC..ST.CLOUD.MN 88301 It 800�397�23411 iORM OCG Mf6NE 8/1991 --� � � ' °
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