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<br /> coveuarars �. . - -
<br /> � gonow�r agreea to make att paymenta an the seciued debt when due. Untess Bortower and Lender agree othorwise, anY ;.:-r. � .
<br /> � ,t �, pBynterta, i first to as�y emou�rts Borrower owes on the secured debt ,
<br /> paymenta Leader reeaivea imm Bortower w for BoROwe�c 6enefic wiR be appi'ed ' .
<br /> ` ``r f exduswe at Ittterest ot ptincipal.eeeond ent�un61 U�es seaured debt ts p�aid in tutl��e��eM of the se�vred debt occ�us tor any reason,it wdl r "
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<br /> not reQuee ar exase arN scheduled paYm , ,« ;` ;�,.
<br /> y q�s pg�tnst Tftla.Bortowe`r will pay all tazes,essessmeMs.end other eharges aaributaAte to the properN w h en due an d wi11 de{end titte :;
<br /> ip tfie PYOparty ag a(nst a�ry daims xfiich wouhl imP�►the tten of this deed of uust.Lender may requUe Borrower to assign any rights.elaims or `
<br /> � defenses whicD Bortower may t�ve against Om9es w1�°�suPPty tabar or meterials to improve or mairrtain tka property.
<br /> . . _ 3.h[�uMCe-8orrower wiU t�p iNa�reIIertY IasWBd urt�er terms aceeD�e�L�nder at Bortower's e:pense and for Lender's EeneTrt. All . ; .
<br /> � - . ins�uanee Polides shaU induda a stendard mortg080��a�e in,���v�^der�'s deJrsc e�on o ebither th0aeastoro�on o�r iePa rs��damaged prospertV .<
<br /> insurence Ooticy.Any insurartce proceeds may 0 epD
<br /> � , � er to the secured debt N Lender requtres mortgage�nsurance.Bortowar agrees te mafntain such insuranee tar as long as Le�der requVes. ` . ,� _� .
<br /> �- _-_�G_' 4.Qroyerty.Bartower will keep tfis property in 8aod condition and make a0 repairs teasonably neceasery. � i :�
<br /> : � 6.6�p�c qes.8orrower a�rees to Pay all Lenders expenses,induding reasonabte attotnsyts'tees.it Borrower breaks any covenants in_this deed ...
<br /> , . ; ot trust or in 8ny obtigaUOn seeured by this de e d o f uu s L Ba r ro w e r w i U p a y t h e s e e maurrts to Lender as prowded in Covenant 9 of this deed of + :
<br /> ltust. � `. '` °°�' •
<br /> . ' 6.pd4r Sec�ity I�esm.Unless Botrower fust obteins LenQers written consent,�r martgage�deemde of�tru�st ot oUrerCSe�anty Breemet►t, _ �f
<br /> : .• • .:,`:� seeurity irtmrests.Bercower wi8 Darfartn a�!ot Bortowers obl'igations under any p .�� r
<br /> induding Bonowe*'s coveaants to maRe P����n due. ��< �
<br /> , .. '- � o�ry� in w�t ng,�BO owe�r m�ay oo�e�teand re�n the rertts as loen9 as Bonowe ris aot inpdefa IU If 8oreroweWr defauats lestdervtender s :,'`' .'-' ,.
<br /> egent,ar a eourt apDointed receiverma�f take pnssession and manage the propertY and wltect the renu.Asry rams Lander cotlects shaN be . -A:. � �`,
<br /> � y� aDPiied first to d�e costs of managin8 the prapeRy,induding eourt costs and attomelre'fees.w��iona to rernal age�us, end any other ... s• .,., ., _ `'.
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<br /> • ` ne�essary related expenses.The remaming amourn of rents will then aPDh►to PaYments an the secured debt as provided in CovenarK 1•
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<br /> a�te�asehotd��tl�iis da eed�ust�is on a u�nrt��n e wmndom nn�im o'r a pien�ned ur�iiimdevetopmentp6or�rower�wal per�fo�rrs►�aU o Borarawe�fs uties
<br /> � ons oi ttea candomWum or pTanned unit davetopmerrt. �'��'4`
<br /> 4. . ' ` under tfie covenarrts,by-taws,or regufati .� .. ..�
<br /> ' s.Authorlty pt Lender to Partartn tar Bartower. if Bortower fails m portow�s name or pa�y any emount�if e�cessary idor per�Wnnan�.red.etf am . ';.�.
<br /> , . �. . .."j pertorm the duties or cause thesn to be Performed.Lender may sign 8 <•:.
<br /> consuuction on the Droperty is discontinued or not tartied on in a reasonaDte manner,Lender may do whatever is necessar�l to Prote«Lertde�8
<br /> . . . _� seetuity ir�terest In the property.This meyt incluQe eompieting tha cansVUCtion. -_
<br /> • - Lender's faflure to pertc+m w+���ot preclude I.ender Nom exercising erry of Ks othet rights under the law ot this deed of trust. _ � _ _ �._,-
<br /> MV amourtts Daid by lender to protect Lenders securitl►iMerest wiil be.secured by this deed of trust.Such amaurAs will be due on demand � ,:y-����
<br /> and will bear interest irom the date of the paymsrtt uMil paid in tu�l at trie�Merest rate in eNect on the sawred dabt , _ �,-
<br /> 10. Detm�tt end AecateraHon. H Bortowet fails to make any paymerrt when due or breaks any covenar�is under this deed at Vust or arry ��^_�
<br /> .,•�� obCgatlon seared by this deed of uust ar any prior mortgage or deed of uust.LenQer may accelerate the maturity of the secured debt and �_
<br /> � demand immediate payment and may invoke the power of sate and arry other►emedies permitted by applicabfe iaw. '�
<br /> � � ��,gequest tor Notice of Qefa��It is hereby requesced that coDies of the notices oi Qetault and sa ia he se n t m ea c h p e r s o n w h o i s a p a rt Y .:;�;_
<br /> '� hereto,at the address of each sueh person,as set torth herein. - ?��
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<br /> « . ,� 72.Power of Sate.If the o r s o m e p a��p�'el thereot�ls situated e�otiCe�of defauh corrta nin g�the informaUon r a4ui e b y w.eThe nw� ,
<br /> w here i n t h e t r u s t p r o p s r t y e r a t o,a n d t o o t h e r p e r s o n s as prescn'bed by ;=:.--.��
<br /> shall also mail copies o f t he natice of detault to the Bortower,to each person w ho is a p a rt y h •� _;[.� s
<br /> applicabte law; Not fess than one moc�after the Trustee reeorda the notice of default,or two mo M h s i f t h e t[ust DTO perty i s not in any , ',�
<br /> ' i n c o r yorated c rt y or village and is used in fartnin9 o peratians cartied on by the t�vstnr,the Tnistes shall give public nattce of eate to the persons `��`
<br /> and in the manner prescribed bY�appp i ica b�e iaw.T r u s t e e,w i t h o u t d e m a n d o n B o n o w er.shatl sell the pro a e rt Y 8t puhlic suction to the highest ,, �
<br /> bidde►.H required by the Farm Momestead Pirotecdan Act,Trustee shail ofter the propertY in two separate sa�es as requ ire d by app lica b�o l a w.
<br /> ' Trus[ee may postpone sate of all or any parcel of the properiy by pubfic annoaneemeat et the tlme and pface ot any previous1Y seheduted sate. ':,_„�;�>
<br /> , • Lender or ita designee may purchase the property at aoy sata. ':�
<br /> � Upon receipt of paymerrt of the price btd,Truatee ahall deinrer w the purchasar Troatee's Qead wrrveying the propertY.The�ecitiata contained in __
<br /> Trustee's deed shall be prima tacie evidienee of the U'uth of the statements contained therein.Trustee shail appty the procaeds of the sate in ttle :���
<br /> � foilowing order: 1a) to all expanses of the sale, inctuding, but not limited to, reasonabie Trustee's fees, reasanabie attome�/s fees and �(:.�`�i_
<br /> ,.�! reinstatament fees;(b)to ail sums secured by this deed of uust,and(cl the balance,if arry,to the petsons tegalty erstttted to receive it. 1
<br /> " 13.�oredosure.At Lender's opUon,this deed of uust may be toreciosed in tha manner provtde by appfica6te law for foreciosure of mortgages , . ;�.;f:-T;
<br /> � . on real property , : ,•"`-=-
<br /> � 74.!ns�ectian.Lendor may enter the property to inspect ft H Lender gives Borrower notice beforehand.The notice must state ffie reasonabte I"i'
<br /> cause for Lendet's inspection. � . • �'.�..+-
<br /> ' 15.Condemnatlan.Bonower assfg�na to LenQer the.proceeds of any award or claim tor damages conrroated with a conQemnaUon or other taking ,'��,
<br /> � � of all or any pan of the propert/.Such proeeeds will be applied as provided in Covenant 7.This assignment ls subject to the terms of arry Drior � :; , -.,„� -
<br /> � ' ! secutity aqreemerrt. , '�.`�'.r
<br /> I 18.Waiver.By exercising any ramedV avaitabte to Le�der,Lender does not give uD any rights to later usa any other remedy.BY noi oxerclsing
<br /> any remedy upon Borrower's default,l.ender doos not waive any�lght to later consiQer the evem a Qetautt N it happens again.
<br /> 17, Jp1nt end Saveral Liahiiitv:CasiBnera; Succossors and Ass1�a Bound. All duties under this deed ot uust are joint and several. Any ' •
<br /> Borrower who casigns thia deed o1 Vust but does not co-si0n the underlying debt insuumentls) does eo only to grant and canvey tfiat , ,
<br /> ..� � Bonowere interest in the property to the Trustee under the terms of this Qeed oi uust.tn addition,such a Borrower agrees that the Lender end
<br /> , � � any other Borrower under this deed of trust may extend,modity or make any other changes in the terms of thia Ceed of vust or the secured ' _ .'
<br /> debt wrthout that Bortower's consent and without releasing that Bonower hom the terma of this Qeed of trust.
<br /> The dutles and benetits of thia deed o1 trust shall bind a�d beneflt the successora and assigns of Lender and Borrower. _
<br /> , • . ''� 18.Nattee.Unless otherwise required by law,any notice to 8orrowet ahall be given by delivering it or by mailing it by certifled mail addressed to
<br /> Bonower at the property addtess or any other address that Borrower has given to Lender.Borcower w�li give any notice to Lendar by certitled
<br /> - � ' • ' be sent to LendePs addtess►as steted on�p ge81 of this d ed of trustther addtesa which Lender has designated.Any other notice to Lendo�sha11
<br /> ' � Any notice shatl be deemed to have been given to Bor�ower or Lender when given in the manner etated above. . �
<br /> ' 19.Transfer of th0 Proparty or a Benefleiel Interost in tho Boaowar.If all or any part of the OroAerty ot eny interest in it ia sotd or transferced • • ��
<br /> vrithout Lsnder'o prior wrltten consent, Lender may Qemand immediate payment ot the secured Q
<br /> ebt. Lender may also demand immediate
<br /> • • demand paymeng in the above situations/f it is p oh bted by tedeial law as of fhe daterof this deed�of trust nsferred. However, lender may not ,
<br /> 20.Reconueyaneo.When the obfigation eecured by this deed of truat has been pald and Lender has no futther obilgation to make edvances
<br /> � under the Instrumenta or agreements seeurod by this deed of trust,the Trustee ahatf upan wr'itten request bV the Lendor,reconvey the trust
<br /> � � property.The Lender shail deliver to the 8anower,or to Borrower's suecessor in interest,the trust deed and the note ot other evidence of tho
<br /> � _ ; obiigation so satistled.Borrower shall pay any recordation costs. .
<br /> 21. Successor Tnutao. Londer, at Lender's option, maV remove T�ustoe and appoint a successor trustee by tirat, mailing a copy of the
<br /> substitution of trustae as requirod by applicabte law,and then,by fiiing the substiri+tion of trustee}or record in the office ot the register o1 deeds . .
<br /> suc eed touall the poweh tduties9 authot�Y and tite of the Trustee named in the deed of Nust and of eny�successarvtrustee.of the property,shell
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<br /> � BANKEqS SYSiEMS.�NC..Si.ClOUD.MN 56301 Il 800�397-T301)FORM OCP�MT6NE 8/19/91 _..__ ._._ '
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